Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Newtek sells second round of small biz loan securitizations
NEW YORK (1/9/12)--Newtek Business Services, The Small Business Authority, has completed the securitization and sale of an additional $20.5 million of non-guaranteed portions of U.S. Small Business Administration (SBA) small-business loans. 

The Small Business Authority, Powered by Newtek, is a CUNA Strategic Services provider.

The transaction was made possible through an amendment to the securitization of $23 million in loans that closed in December 2010. The sale of the additional trust notes was handled by Guggenheim Securities, LLC, which advised Newtek.

Newtek has been active in small-business lending and, with the latest transaction, it will have completed the securitization of about $43.5 million of non-guaranteed portions of SBA small business loans within the past 12 months. 

Standard and Poor's has rated the securitization trust notes as AA, based on the collateral in the entire, upsized pool.
Other Resources

RSS print
News Now LiveWire
New offices mean moving sale at @TheKCUA https://t.co/xaof5SJkmE
10 minutes ago
Existing-home sales slump in August as cash purchases decline @REALTORS
1 hours ago
How #creditunions use FHLBs in their operations, Part 3 #NewsNow #System http://t.co/DXgRqXiRAn
3 hours ago
Retirement reality fairs: Looking at post-work futures today. #NewsNow http://t.co/IcM4uK3IOl
3 hours ago
#HomeDepotBreach: What it means for consumers with 56 million compromised cards See #NewsNow http://t.co/9MJ9JTnHYC
3 hours ago