NewtekOne Inc (NASDAQ: NEWT) is a bank holding company that operates a national business bank focused on small and medium-sized businesses. It makes money primarily through net interest income on loans, including SBA 7(a), SBA 504, and proprietary ALP loans, plus gains on loan sales and fee income from ancillary business services. NewtekOne operates without traditional physical branches, instead using a branchless model built around digital client interaction and a network of referral relationships. As of December 31, 2025, the bank held $894.3 million in loans held for investment at amortized cost and $971.8 million in loans held for sale at fair value. The company also provides payment processing, point-of-sale technology, and business services through subsidiaries including Newtek Merchant Solutions and POS. NewtekOne divested its technology solutions subsidiary, Newtek Technology Solutions, on January 2, 2025. The company declared common dividends of $0.19 per share for each quarter of 2025 and 2024.

Revenue model

Net interest income from a loan portfolio concentrated in SBA 7(a), SBA 504, and ALP loans; gains on loan sales including securitizations; payment processing fees through Newtek Merchant Solutions and Mobil Money subsidiaries; and referral fees from third-party service providers following the January 2025 divestiture of Newtek Technology Solutions.

Products and services

SBA 7(a) loans, SBA 504 first and second lien loans, ALP (proprietary) loans, deposit accounts, payment processing services, point-of-sale cloud-based technology systems for restaurant and retail businesses (POS subsidiary), payment processing for taxi cab merchants (Mobil Money), inbound and outbound client services via TAM subsidiary, and technology solution referrals following the NTS divestiture completed January 2, 2025.

Customers and end markets

Small and medium-sized business owners across the United States. End markets include restaurants, retail, assisted living, parks, golf courses, taxi cab operators, and general independent business owners seeking SBA-backed and conventional financing. The bank targets non-traditional origination channels including referral relationships, wholesale solicitations, and financial institutions rather than independent sales agents.

Value-chain role

Direct lender and bank holding company. Originates SBA and proprietary loans, holds loans for investment or sale, executes loan securitizations, and cross-sells payment processing and business services to its lending client base. Operates a branchless distribution model using U.S.-based client service specialists available via camera and digital channels.

Geographic exposure

United States national footprint. Branchless model with no disclosed concentration in specific states or regions in the excerpts reviewed.

Source: SEC 10-K, filed 2026-03-10

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