NewtekOne Announced Total Loan Pipeline Growth
Portfolio Pulse from Benzinga Newsdesk
NewtekOne announced significant growth in its total loan pipeline across all products, with a 24.0% increase year-to-date through January 31, 2024, reaching $1.4 billion. The alternative loan finance program saw a 38.2% increase, reaching $183.2 million, and the SBA 7(a) loans pipeline grew by 17.8%, reaching $771.6 million.
February 05, 2024 | 6:42 pm
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POSITIVE IMPACT
NewtekOne's total loan pipeline has seen a significant increase across all products, indicating strong growth and potential revenue increase.
The substantial growth in NewtekOne's loan pipeline across various segments suggests an expanding business and potential for increased revenues. This positive development is likely to be viewed favorably by investors, potentially leading to a short-term increase in NEWT's stock price.
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