Partner Resources

Referral fees are processed for payment twice per month: At the end of the current month for loans funded on the 1st through the 15th. By the middle of the following month for loans funded on the 16th through month-end.

Effective 7/1/25, the referral fee achievement program enables partners to increase their referral fees from 2% to 3% over a quarter. Partners with $4.5M or more loans funded by Northeast Bank within a quarter will earn a 3% referral fee on all loans funded by Northeast Bank the next quarter. For example, to earn a 3% referral fee on Northeast Bank funded loans in Q4, partners must refer $4.5M of closed loans funded by Northeast Bank beginning at 12:00am CT on 7/1/25 through 12:00am CT on 10/1/25. Partners must maintain the $4.5M hurdle each quarter to keep the 3% referral fee in the subsequent quarter. If they do not meet the $4.5M hurdle, they will earn a 2% referral fee in the following quarter.

Loans are counted towards the $4.5M hurdle when: 1. They’re funded by Northeast Bank 2. The close (funded) date is between the first day of the quarter and the last day of the quarter 3. The loan was referred via the partner

The partner team will notify you if you have met or exceeded the $4.5M hurdle and will earn 3% referral fees in the next quarter.

Not at this time. This program is for Northeast Bank-funded loans only.

The NEWITY Growth Term Loan is exclusive to the NEWITY platform and is not offered by other loan facilitators.

NEWITY Growth Term Loan is a business term loan offered through the NEWITY platform. It is similar to an SBA 7(a) loan, without government approval or involvement.

No, unless you have already confirmed your interest with a NEWITY partner team member, you must toggle access to the loan on within your partner portal. To toggle access on – 1. Log into your Partner Portal Account 2. Click “Account Settings” in menu bar 3. Click “Service Offering Preferences” 4. Scroll down to “Additional Services” 5. Click on the “Alternative Loans” tab and check “NEWITY Growth Term Loan” 6. Click “Save Changes”

A NEWITY Growth Term Loan can be used for working capital needs such as rent, payroll, inventory, 1099 payments, supplies, utilities, and more. A NEWITY Growth Term Loan can also be used to refinance debt, including MCA debt. In the future, a NEWITY Growth Term Loan may be used for equipment financing, but it is not currently an eligible loan use.

Upon completion of the application, eligible applicants will see a loan offer for a NEWITY Growth Term Loan. By selecting to proceed with the offer, businesses will continue to be reviewed and underwritten for a NEWITY Growth Term Loan.

No, NEWITY Growth Term Loan is not an SBA loan. While it carries similar terms to an SBA loan, such as a long repayment period, wide eligible uses, and competitive interest rates, the loan is not guaranteed by the government or SBA.

The qualification requirements for a NEWITY Growth Term Loan can be seen here.

NEWITY Growth Term Loans require 24 months of payment before the loan is eligible for pre-payment without additional fees. If your client prepays the loan before 24 months, the pre-payment penalty is calculated by totaling the interest amount that would have accrued up until 24 months.

Businesses will be qualified for a NEWITY Growth Term Loan and SBA loan simultaneously. If businesses qualify for both loans, the loan terms and amounts will be presented on a final application screen for eligible applicants to select one of the loans. Businesses with an existing SBA loan through NEWITY can apply for a NEWITY Growth Term Loan one year from their SBA loan funding date.

Businesses with an existing SBA loan through NEWITY can apply for a NEWITY Growth Term Loan one year from their SBA loan funding date.

All SBA 7(a) loans through NEWITY carry these terms: Interest Rate: WSJ Prime + 2.75% to 3.75%, Term: 10-Years, Prepayment Penalties: None. Interest rates are adjusted quarterly to reflect changes to WSJ Prime. For the first quarter of payments after loan funding, the interest rate is based on the WSJ Prime Rate in effect the 1st business day of the month that the client’s application was submitted and NEWITY’s team confirmed that all initial documents have been provided. Updated as of: October 30, 2025

SBA 7(a) working capital loans through NEWITY can be used for everyday expenses like inventory, payroll, supplies, 1099 payments, rent, utilities, marketing, and more. SBA 7(a) loans can also be used for refinancing debt at the time of underwriting. Please note, Merchant Cash Advances (MCA) loans may not be eligible for refinance as well as debts that have been taken out after the most recent filed tax return year. For example, if the most recent tax return was filed in 2024, debts taken out in 2025 cannot be refinanced.

While NEWITY continues to revise it’s turndown funding partners, most offer term loans, lines of credit, or merchant cash advance. You have the ability to toggle access to these loans on and off in your partner portal account settings. To see these features, please watch the partner portal features video.

No, as of September 1, 2025, NEWITY does not provide access to SBA 7(a) startup loans.

Yes, NEWITY provides access to SBA 7(a) loans for businesses in all 50 states.

Yes, please see the list of restricted industries by NAICS code [as provided in the source document].

The general stages are as follows: 1. Application submitted – If the application is initiated by a partner, partners will be prompted to enter the majority owner(s) contact information so they can fill out their personal information 2. Prequalification offer presented 3. Offer accepted and initial documents requested 4. SBA Form 1919 sent to majority owner(s) for e-signature 5. Application and documents reviewed for eligibility 6. IRS Form 8821 sent to majority owner(s) for ink signature 7. Application sent to Underwriting for final loan offer 8. Final offer accepted and bank approval requested 9. Bank approved and closing procedures begin 10. Closing documents finalized and reviewed by legal 11. Funds dispersed – Please refer to the funding FAQ and debt refinance FAQ for more information

The list of initial required documents is outlined here. The following documents will be requested as part of the underwriting and closing process. Additional documents may be requested to address specific aspects of a business’s application. Please ensure documents are uploaded to the application in the appropriate denoted location. If documents are uploaded to the incorrect section, it causes delays for manual review. For loans up to $50,000: 1. Driver’s License / Passport or Permanent Resident Card, if applicable 2. Voided Check for Business Checking Account 3. Business License(s) / Permit(s) – if required by county/state 4. Corporate Bylaws / Operating Agreement 5. Not required if 100% of owners sign the loan documents, SBA Form 1919, or personal guaranty(ies) 6. Affiliate Tax Return (most recent filed year), if the Guarantor(s) own(s) any other businesses, as shown on Schedule C or Schedule E within the personal tax return 7. Personal Financial Statement – A template will be provided if personal financial questions are not answered in the initial application. For loans up to $50,001 – $350,000: 1. Driver’s License / Passport or Permanent Resident Card, if applicable 2. Voided Check for Business Checking Account 3. Business License(s) / Permit(s) – if required by county/state 4. Corporate Bylaws / Operating Agreement 5. Not required if 100% of owners sign the loan documents, SBA Form 1919, or personal guaranty(ies) 6. Affiliate Tax Return (most recent filed year), if the Guarantor(s) owns any other businesses, as shown on Schedule C or Schedule E within the personal tax return 7. Personal Financial Statement – A template will be provided if personal financial questions are not answered in the initial application 8. Asset List (to include business-owned assets individually valued at $5,000 or more, excluding vehicles) 9. If refinancing debt, the fully executed loan agreements and any amendments for all accounts being paid off 10. Insurance – please see the Insurance FAQ for additional details 11. General Liability, Workers Compensation, and Business Personal Property 12. Fully Executed lease agreement and all amendments (if applicable) 13. Lease option to Renew may be required, as determined by Underwriter

For businesses that have been in operation for two or more years, cash flow eligibility is based on EBITDA for those two years. Revenue is based on the average gross sales revenue of the past two years. EBITDA = net income + interest + depreciation + amortization

The new loan’s lien position on all business assets (ABA) must be fourth or lower to qualify. All UCCs must correspond to the business’s debt schedule. For any UCC filings not listed on the debt schedule, borrowers must provide either the terms of liability or the UCC3 termination statement from the lender.

There is no revolving debt limit.

If short-term, high-interest rate debt exists and is eligible for refinance based on the date taken out, NEWITY + Northeast Bank require it to be refinanced with an SBA loan. However, MCA loans cannot be refinanced and thus are not required to be refinanced with an SBA 7(a) loan. If the borrower does not wish to refinance or is not eligible to refinance, the loan will be capped at 25% of average annual revenue, less existing debt. Note, the election not to refinance may result in a longer approval process.

If a borrower has an existing SBA loan that was originated in the past 12 months, the borrower must meet requirements for the new proposed total loan amount to qualify for a new SBA loan through NEWITY + Northeast Bank.

Yes, a prequalified SBA 7(a) loan amount may change in underwriting. Typically, this occurs due to outstanding debt. In many instances, the applicant can still receive an SBA loan at a lower loan amount. If the loan amount is reduced, the team will notify the client directly and seek confirmation whether to proceed with underwriting at the new loan amount.

Yes. Generally, businesses need a minimum of 2 years in business to qualify. Businesses in the construction industry require at least 4 years to be eligible.

To close loans over $50,000, businesses must provide specific proof of insurance. Northeast Bank must receive evidence/certificates of insurance with several components in place. 1. The policies must be effective at the time of closing and their expiration dates should be more than 30 days beyond that date. 2. The policies must provide for 30 days written notice to Northeast Bank and its successors and assigns of any material change in, or cancellation of the policy. 3. Certificates with disclaimers for certificate holders will not be accepted. 4. Deductibles should not exceed $5,000. Required Policies: General Liability – Northeast Bank must be listed as Certificate Holder and Additional Insured: $2,000,000 – General Aggregate, $1,000,000 – Each Occurrence, $1,000 – Medical Expenses, Pending the business type, there are two other liability policies that could be required: $1,000,000 – Malpractice for Attorneys, Physicians, etc., $1,000,000 – Liquor Liability/Dram Shop for liquor stores, gas stations, or restaurants that serve alcohol. Business Personal Property – Northeast Bank must be listed as Lender Loss Payable: For businesses that lease or own their location. Coverage must be in the amount of full replacement cost(s) on all real estate and/or machinery, equipment, fixtures, and inventory that is collateral for the Loan. If full replacement cost insurance is not available, coverage should be for the maximum insurable value. Insurance must be documented for all locations where assets are located. If the business is located in a flood zone as determined by a third party partnered with FEMA, flood insurance is required and Northeast Bank must be listed as Lender Loss Payable. Northeast Bank will determine the amount based on Collateral Schedule. Workers’ Compensation – Northeast Bank must be listed as Certificate Holder, unless the policy is issued through the State: Only required if it’s required by the business’s state. Northeast Bank’s information to include on policies is as follows: Northeast Bank ISAOA /ATIMA, ATTN: NEWITY, 1123 W Washington Blvd, Fl 3, Chicago, IL 60607

During closing, business owners will need to perform identity verification through our secure system and confirm account instructions. If the loan amount is over $50,000, the business must provide specific proof of insurance at closing as outlined in the Insurance FAQ. Without properly completed insurance certificates, the application cannot advance to funding. Once all closing steps are complete, the loan will queue for funding, which occurs on Monday, Wednesday, and Friday – To participate in the Monday funding, all requirements must be complete by 12PM ET on Thursday. To participate in the Wednesday funding, all requirements must be complete by 12PM ET on Monday. To participate in the Friday funding, all requirements must be complete by 12PM ET on Wednesday.

There are two scenarios for loan disbursements that incorporate refinancing debt: 1. Credit Card or Line of Credit Refinance – Depending on the language within the payoff letter, the bank will either pay off the balance directly or wire the funds to the borrower to pay off. Upon receipt of proof that the account is paid in full AND closed, the remaining working capital will be released. 2. Term Loan Refinance – Depending on the language within the payoff letter, the bank will either pay off the balance directly or wire the funds to the borrower to pay off. Upon receipt of proof that the account is paid in full, the remaining working capital will be released.

The SBA requires banks to take title to property(ies) if there is over 25% equity. There are two instances in which the lender is required to take title to the real estate: 1. If the real estate is owned directly by the business (business name is on the title) 2. If the guarantor(s) have ownership interest in an entity that owns real estate at an address where the business operates. The process of taking title to real estate creates additional requirements and costs, which can extend the time to close and result in potential non-refundable upfront costs. If this is applicable for a business: A mortgage statement will be requested (if applicable) and an appraisal will be scheduled to determine the valuation. If equity is less than 25%, no further action is required. If the valuation shows 25% or more equity, Northeast Bank will determine if an environmental inspection will be required. This is determined by: Results of the environmental questionnaire, Loan amount exceeds $250,000, NAICS code. If an environmental inspection is required, the borrower will need to provide an upfront $3,000 non-refundable deposit and should expect a closing delay of at least one month for the inspection and its reports to be completed. Please note, if the initial inspection triggers additional inspections, costs could exceed $10,000 and add further delays.