Revolving Lines of Credit
Newtek provides financing solutions that meet a business’ short-term cash-flow needs. Our Secure Line of Credit is distinguished by its flexible facilities, ranging in size from $50,000 to $3,000,000. Funds may be used to satisfy a range of business needs, including:
- Working capital purposes
- Meet payroll needs
- Take advantage of trade discounts
- Extend credit to customers
- Fuel business growth
- Pay taxes
Services
Lines of Credit Secured by Receivables:
- Lines from $50,000 to $3,000,000
- Get cash now for invoices due 30, 60, or 90 days out
- Up to 80 percent advance rate, renewable 1-year term
Why Asset-Based Financing?
- More flexibility than a traditional loan
- Less rigorous underwriting and quicker turnaround time compared with conventional financing
- Receive your funds in two weeks or less
- Use funding for working capital, meeting payroll, pay taxes, or other operational needs
- Competitive interest rates
Why Finance My Receivables?
Instead of waiting 30, 60 or 90 days to be paid by your customers, we provide you with capital today to meet payroll, take advantage of vendor discounts, hire additional staff, improve your credit rating, pay taxes, or to fulfill many other needs.
What Types Of Receivables Are Eligible For Financing?
Unlike other companies, we’ll finance both business-to-consumer receivables as well as business-to-business receivables. In order to be eligible, the goods or services must be delivered or completed, and accepted by a U.S.-based customer.
What Types Of Businesses Do You Work With?
We will work with start-up and existing businesses alike, located anywhere in the continental United States. Many of our clients are in the following industries:
- Temporary Staffing Agencies
- Wholesalers/Distributors
- Manufacturing Companies
- Janitorial Maintenance Companies
- Limousine Companies
- Magazines and Related Publications
- Security Guard Agencies
- Printing Companies
- Pharmacies
- Hardware Stores
- Florists
- Dry Cleaners
Why Should You Work With Us?
We have been providing our services to clients across the country since 1998. Our experience and track record make us an invaluable resource to our clients. Our financing experts take the time to understand the individual needs of every client, and to support and service those needs with a solution that aligns with their overall goals. Regardless of your situation, chances are we’ve worked with others just like you.