NewtekOne, Inc.
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
NEWT$10.70+0.3%Stored close · as of Nov 6, 2026
Contents
Defined Terms
We have used “we,” “us,” “our,” “our company,” and “the Company” to refer to NewtekOne, Inc. and its subsidiaries in this report. We also have used several other terms in this report, which are explained or defined below:
| Terms | |
|---|---|
| 1940 Act | Investment Company Act of 1940, as amended |
| 2017-1 Trust | Newtek Small Business Loan Trust, Series 2017-1, terminated in February 2023 |
| 2018-1 Trust | Newtek Small Business Loan Trust, Series 2018-1, terminated in October 2024 |
| 2019-1 Trust | Newtek Small Business Loan Trust, Series 2019-1, terminated in October 2024 |
| 2021-1 Trust | Newtek Small Business Loan Trust, Series 2021-1 |
| 2022-1 Trust | Newtek Small Business Loan Trust, Series 2022-1 |
| 2023-1 Trust | Newtek Small Business Loan Trust, Series 2023-1 |
| 2025-1 Trust | NALP Business Loan Trust, Series 2025-1 |
| 2024 Notes | 5.75% Notes due 2024, matured August 1, 2024 |
| 2025 5.00% Notes | 5.00% Notes due 2025, matured March 31, 2025 |
| 2025 8.125% Notes | 8.125% Notes due 2025, exchanged for 2027 Notes |
| 2025 Notes | Collectively, the 2025 5.00% Notes and 2025 8.125% Notes |
| 2026 Notes | 5.50% Notes due 2026 |
| 2027 Notes | 8.125% Notes due 2027 |
| 2028 Notes | 8.00% Notes due 2028 |
| 2029 8.50% Notes | 8.50% Notes due 2029 |
| 2029 8.625% Notes | 8.625% Notes due 2029 |
| 2029 Notes | Collectively, the 2029 8.50% Notes and 2029 8.625% Notes |
| 2030 Notes | 8.375% Notes due 2030 |
| ABL | Asset based lending |
| ACL | Allowance for credit losses |
| Acquisition | The Company’s Acquisition of NBNYC, pursuant to which the Company acquired from the NBNYC shareholders all of the issued and outstanding stock of NBNYC |
| ALP | Alternative Lending Program |
| ASC | Accounting Standards Codification, as issued by the FASB |
| ASU | Accounting Standards Updates, as issued by the FASB |
| Original ATM Equity Distribution Agreement | The Original ATM Equity Distribution Agreement, dated November 17, 2023, by and among the Company and the placement agents |
| Amended and Restated Equity Distribution Agreement | The Amended and Restated Equity Distribution Agreement, dated June 6, 2025, by and among the Company and the placement agents |
| BDC | Business Development Company under the 1940 Act |
| BHCA | Bank Holding Company Act of 1956 |
| Board | The Company's board of directors |
| Capital One | Capital One Bank, National Association |
| C&I | Conventional commercial and industrial loans |
| Code | Internal Revenue Code of 1986, as amended |
| CODM | Chief Operating Decision Maker |
| CRE | Commercial real estate |
| Deutsche Bank | Deutsche Bank AG |
| DRIP | The Company's former dividend reinvestment plan |
| EBITDA | Earnings before interest, taxes, depreciation and amortization |
| 2015 Stock Incentive Plan | The Company's 2015 Stock Incentive Plan |
| 2023 Stock Incentive Plan | The Company’s 2023 Stock Incentive Plan |
| ESPP | Employee Stock Purchase Plan |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| FASB | Financial Accounting Standards Board |
| Federal Reserve | Board of Governors of the Federal Reserve System |
|---|---|
| FDIC | Federal Deposit Insurance Corporation |
| FV | Fair Value |
| HFI | Held for investment |
| HFS | Held for sale |
| LCM | Lower of amortized cost basis or fair value |
| LTV | Loan-to-Value |
| NAV | Net Asset Value |
| NBNYC | National Bank of New York City, renamed Newtek Bank, National Association |
| NOO | Non-owner occupied |
| OCC | Office of the Comptroller of the Currency |
| PCD | Purchased Financial Assets with Credit Deterioration |
| PLP | Preferred Lenders Program, as authorized by the SBA |
| PPP | Paycheck Protection Program |
| RIC | Regulated investment company under the Code |
| S&P | Standard and Poor's |
| SBA | United States Small Business Administration |
| SEC | U.S. Securities and Exchange Commission |
| SMB | Small-and-medium sized businesses; revenue from $1.0 million to $100.0 million |
| SOFR | Secured Overnight Financing Rate |
| SPV I Capital One Facility | Revolving Credit and Security Agreement between NBL SPV I, LLC, a wholly-owned subsidiary of NALH, and Capital One |
| SPV II Deutsche Bank Facility | Revolving Credit and Security Agreement between NBL SPV II, LLC, a wholly-owned subsidiary of NALH, and Deutsche Bank |
| SPV III One Florida Bank Facility | Revolving Credit and Security Agreement between NBL SPV III, LLC, a wholly-owned subsidiary of NALH, and One Florida Bank |
| Trustee | U.S. Bank, National Association |
| TSO II | TSO II Booster Aggregator, L.P. |
| U.S. GAAP or GAAP | Generally accepted accounting principles in the United States |
| VIE | Variable Interest Entity |
| Webster | Webster Bank, N.A. |
| Consolidated Subsidiaries | |
| NSBF | Newtek Small Business Finance, LLC |
| NBL | Newtek Business Lending, LLC, a former wholly-owned subsidiary of Newtek Bank, merged into SBL on May 2, 2023 |
| NCL | Newtek Commercial Lending, Inc., a former wholly-owned subsidiary of NewtekOne Inc., merged into NALH on May 13, 2025 |
| Newtek Bank | Newtek Bank, National Association |
| NALH or Newtek ALP Holdings | Newtek Business Services Holdco 6, Inc. |
| NMS | Newtek Merchant Solutions, LLC, a wholly-owned subsidiary of NBC |
| Mobil Money | Mobil Money, LLC, a wholly-owned subsidiary of NMS |
| NTS | Newtek Technology Solutions, Inc., a former wholly-owned subsidiary of the Company, sold to IPM on January 2, 2025 |
| NBC | CDS Business Services, Inc. dba Newtek Business Credit Solutions |
| SBL | Small Business Lending, LLC, a wholly-owned subsidiary of Newtek Bank |
| PMT | PMTWorks Payroll, LLC, dba Newtek Payroll and Benefits Solutions |
| NIA | Newtek Insurance Agency, LLC |
| TAM | Titanium Asset Management, LLC |
| POS | POS on Cloud, LLC, dba Newtek Payment Systems, an 88.34% owned consolidated subsidiary |
| Joint Ventures and Non-Control Investments | |
|---|---|
| NCL JV | Newtek Conventional Lending, LLC, a former 50% owned joint venture, 100% Company owned as of August 27, 2025 and dissolved on September 30, 2025 |
| TSO JV | Newtek-TSO II Conventional Credit Partners, LP, a 50% owned joint venture |
| IPM | Intelligent Protection Management Corp., formerly Paltalk, Inc. (PALT) |
| IPM Preferred Stock | 4.0 million shares of IPM Series A Non-Voting Common Equivalent Stock |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.