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Strategies & Market Trends : Dividend investing for retirement
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From: E_K_S4/20/2020 9:49:04 AM
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Financials
Newtek gets SBA loans numbers for $548M of payroll loans
Apr. 20, 2020 9:42 AM ET|About: Newtek Business Services Corp. (NEWT)|By: Liz Kiesche, SA News Editor

Newtek Business Services' ( NEWT -2.5%) SBA lending unit expects to fund more than $340M of Paycheck Protection Program loans by the close of business on Tuesday.

As of today, Newtek Small Business Finance has approved and obtained SBA E-Tran (loan) numbers for $548M of PPP loans, including $340M of loans to be funded by the end of the day and $208M of loans awaiting funding, since the PPP program commenced.

The SBA loan numbers received will result in ~60,000 employees being retained on the payroll of its borrowers.

NSBF has additional prospective borrowers compiling information to be processed for PPP loan approval, that could represent an additional $600M of PPP loans.
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