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NewtekOne, Inc. helps independent business owners and small and midsize businesses obtain financing. Its branchless Newtek Bank takes deposits and makes business loans, including loans partly guaranteed by the U.S. Small Business Administration (SBA). For SBA 7(a) loans, it generally sells the government-guaranteed portion to investors at a premium, keeps the unguaranteed portion, and continues collecting payments and administering the loan for servicing fees. Borrowers pay interest, while loan buyers provide sale proceeds. Loan-sale gains and other noninterest income play a larger role than at a conventional bank.
Newtek ALP Holdings also lends to business owners who may not qualify for SBA financing. These loans are initially funded with company capital and credit lines, then may be sold or pooled to back securities sold to investors. Newtek retains servicing and some loan risk. Separately, Newtek Merchant Solutions helps merchants accept card payments and earns processing fees from them.
Referral partners are an important source of customers, with NewTracker used to follow leads through closing; those partners are not obliged to send business. Lending depends on access to funding, borrowers making payments, and the difference between loan interest earned and funding costs. The SBA business also depends on federal program funding, continued loan-buyer demand and compliance with SBA rules. Newtek Bank's preferred-lender status lets it approve most guaranteed loans without prior SBA review, and losing that authority would constrain originations. Banking capital and liquidity rules limit lending and payments to the parent company. The payments business relies on sponsoring banks to access Visa and Mastercard because Newtek Merchant Solutions cannot access those networks directly.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Byline Bancorp competes with NewtekOne nationwide for small-business loans backed by the Small Business Administration (SBA). Both originate loans, sell the government-guaranteed portions and keep servicing them, making Byline a rival for both borrowers and loan-sale income.
Hope Bancorp’s Bank of Hope competes with Newtek Bank for SBA and commercial business loans, so both face changes in small-business borrowing demand and SBA program conditions. Watch Bank of Hope’s SBA lending for another view of the market that hurt Newtek’s loan originations in 2025 amid program changes and the fourth-quarter U.S. government shutdown.
FirstSun Capital Bancorp’s Sunflower Bank competes with Newtek Bank to finance small and midsize businesses through SBA loans, loans secured by business assets and other commercial credit. Its lending for working capital, operations and expansion offers a read on borrowing demand among the business customers Newtek also serves.
First Financial Bancorp competes with NewtekOne for business-owner financing, including equipment purchases and longer-term credit. Its nationwide lending to restaurant franchisees and professional businesses, alongside equipment financing, is where to watch demand for these overlapping borrowing needs.
Visa and NewtekOne’s merchant-processing business both earn from card spending: Visa carries payments across its network, while Newtek helps merchants process card payments, substantially all involving Visa or Mastercard. Visa’s payment-volume trends offer a read on this revenue driver, while network rule changes can affect Newtek’s ability to keep processing.
Mastercard and NewtekOne both have exposure to card-transaction growth: Mastercard routes and settles payments between banks, while Newtek processes payments for merchants, substantially all involving Mastercard or Visa. Watch Mastercard’s card-transaction activity rather than cardholder interest income—it does not issue cards or lend to cardholders.
Byline Bancorp, Inc. earningsBY
Byline’s report shows whether a bank competing with NewtekOne for SBA borrowers can keep originating loans and selling their government-guaranteed portions.
Look at Byline’s SBA originations and sales of guaranteed loan portions. If both hold up, the market is still producing borrowers and loan-sale activity, but Byline remains a rival for NewtekOne’s borrowers and sale income. If both weaken, competition may ease, but demand or SBA program conditions may also be deteriorating, so that alone does not mean NewtekOne benefits. The report helps read the market and competitive pressure; it does not replace NewtekOne’s own lending figures.
FirstSun Capital Bancorp earningsFSUN
FirstSun’s report shows whether Sunflower Bank is lending more to small and midsize businesses, offering a read on the financing demand NewtekOne also serves.
Look at Sunflower Bank’s business lending growth alongside loan quality. More lending with sound credit suggests businesses are still seeking financing, a useful signal for the customer base NewtekOne also serves. Weaker lending could mean less demand or tighter underwriting; it does not prove NewtekOne is seeing the same change. Treat it as a market clue, then use NewtekOne’s own originations and credit figures to reach a conclusion.
VISA Inc. earningsV
Visa’s report shows how payment volume on its network is changing, offering a clue to the card-spending backdrop for NewtekOne’s merchant processors.
Read Visa’s reported payment-volume trend alongside NewtekOne’s own merchant transaction volume and payments income. Stronger Visa volume signals more activity across its network and supports the backdrop for transactions at merchants NewtekOne serves; weaker volume points to a possible slowdown. Visa covers a much broader network, however, so its figures are not NewtekOne’s processed transactions and cannot establish that its revenue moved the same way. Visa shows the wider payments climate; NewtekOne’s figures show whether it reached the business.
NewtekOne, Inc. earningsThis company
NewtekOne sells the government-guaranteed portions of SBA loans and keeps servicing them, so its report shows whether that income can outweigh credit costs.
Read loan-sale gains alongside the provision for credit losses: stronger gains with credit costs contained show NewtekOne is turning lending into income without losing too much to borrower defaults; weaker gains with rising provisions show that engine losing ground. Then check net interest margin—the gap between returns on loans and other earning assets and the cost of deposits and borrowings. A steady margin says funding costs are not squeezing returns further. Together, these figures show whether lending is producing income or being eroded by credit and funding costs.
Fed Interest Rate Decision
NewtekOne’s bank earns interest on business loans and pays for deposits and other funding, so Fed rate decisions can change how much it earns after funding costs.
Expected4.0%Last release4.0%
If it comes in above expectations
If rates rise more than expected, Newtek Bank may earn more on Prime-based loans, but deposit and other borrowing costs may also rise; if funding costs rise faster, its margin narrows, and borrowers may find payments harder to meet.
If it comes in below expectations
If rates rise less than expected or fall, loan yields and funding costs may both ease; slower reductions in deposit and borrowing costs than in loan yields could support the bank’s margin and ease borrowers’ payment strain.
