Frequently Asked Questions
Get the answers you need before you start.
General Account Information
NEWITY is your source for small business capital. We’ve helped 125,000+ small businesses secure more than $12 billion. Unlike other platforms, our team is here to help every step of the way.
To see how much capital your small business could qualify to receive, create a free NEWITY account and submit an application. It takes less than 10 minutes and does not impact your credit score.
No, NEWITY is not a lender. NEWITY is a Lender Service Provider for Northeast Bank.
We work with thoroughly vetted lenders to provide SBA and non-SBA financing options. Together with Northeast Bank, we help small business owners access working capital through the SBA 7(a) loan program, NEWITY Growth Term Loans, SBA Grocery Guarantee Loans, and SBA Made in America Loans.
Yes! To speak with a NEWITY representative in Spanish, please call us at (773) 839-8089.
Para hablar con un representante de NEWITY en Español. Llámenos al (773) 839-8089.
Yes, we do. We work with all kinds of businesses who want to help their small business clients.
If you’d like to learn more about our referral partner program you can visit our partnership page and submit the contact form to connect with our Partnership team.
No, NEWITY does not provide access to grants.
NEWITY can help you access capital through SBA 7(a) loans, NEWITY Growth Term Loans, SBA Grocery Guarantee Loans, and SBA Made in America Loans, which can be beneficial for your business growth.
To see how much capital you could receive, create your NEWITY account and submit an application. It takes less than 10 minutes and does not impact your credit score.
We match you to the best available loan option based on your credit score, time in business, and annual revenue. Applying won’t affect your credit score.
To see your loan options, log into your NEWITY account and apply today.
If you cannot remember the password to your NEWITY account, please:
- Navigate to the NEWITY login screen
- Click Reset your password above the green Log In button
- In the next screen, enter the email address associated with your NEWITY account and click Continue
- In your email, look for a password reset message from [email protected] and follow the enclosed instructions. Be sure to check spam or junk if you do not see the email in your inbox.
If you have not received the reset link after several minutes, please feel free to call us at (773) 839-8089. We’re happy to help.
You can easily update the primary email address, phone number, or add a new primary contact to your account by logging in and clicking on the icon in the top right corner.
First, log into your NEWITY account using your current email address. If necessary, you can click ’Forgot Password’ to reset your password.
Once logged in:
- Click My Business to view your business details and the users assigned to your account.
- Click the Edit symbol to easily update your business info and user info.
- Click Save Changes to save the new information.
Note: only the primary user can make changes to the primary account. Other users can only update their own information.
Lost access to your primary email? Contact our Member Support team.
If your login code was never sent, didn’t work, or you can’t find it, contact our support team for help.
You can submit a support ticket or call us at (773) 839-8089.
No, we will use your information to provide loan options from lenders, but your information is not sold to third parties. You will only continue with the lender you choose.
Small Business Loans
Alongside Northeast Bank, NEWITY provides access to SBA 7(a) loans and NEWITY Growth Term Loans up to $350,000.
For businesses in manufacturing or the food supply chain, NEWITY and Northeast Bank provide access to SBA Grocery Guarantee Loans and SBA Made in America Loans up to $1,000,000.
The application will automatically present you with a loan amount for your application. To see how much you qualify to receive, create a NEWITY account and submit an application. It takes less than 10 minutes and will not impact your credit score.
To qualify for an SBA loan through NEWITY’s platform, your business must be:
- In operation for at least 2 years as a for-profit business
- US-based location and operations
- Owner supported / owner funded
- Eligible per the SBA’s requirements
To qualify for a NEWITY Growth Term Loan, your business must be:
- In operation for at least 2 years as a for-profit business
- US-based location and operations
To see if you qualify, submit the loan application in your NEWITY account. It takes less than 10 minutes and does not impact your credit score.
For SBA 7(a) loans through NEWITY, collateral is not required for loans $50,000 and under. Collateral is required for loans between $50,001 and $1,000,000 based on the business’ balance sheet.
For Growth Term Loans, your business assets are used as security.
Once you apply, your loan specialist will walk you through what’s needed.
SBA loans through NEWITY have a variable interest rate based on the Prime Rate plus 2.75% to 3.75%.
As of December 11, 2025, the Prime Rate is 6.75% in the U.S., which can be monitored via The Wall Street Journal’s Money Rates table.
At the current WSJ Prime rate of 6.75%, SBA loans interest rates via NEWITY range from 9.50% to 10.50%.
NEWITY Growth Term Loans have a fixed interest rate that generally ranges between 15%-24%.
Your rate depends on your credit scores, loan amount, and business profile. You’ll see your exact rate when you complete the application.
Last Updated: December 11, 2025
Yes, sole proprietors can apply for loans through NEWITY.
To see how much you qualify for, submit the loan application in your NEWITY account. It takes less than 10 minutes and does not impact your credit score.
Yes, businesses with multiple owners are more than welcome to apply for an SBA loan or a NEWITY Growth Term Loan.
We’ve made it fast and simple to apply. At NEWITY, we can help you get funding 3x faster than the national average.
To get started, submit the loan application in your NEWITY account. It takes less than 10 minutes and does not impact your credit score.
SBA loans and NEWITY Growth Term Loans can be used for working capital to grow your business. Working capital can cover daily expenses such as:
- Payroll – This includes salaried, hourly, part-time and 1099 employees.
- Debt Refinancing – Swap high-interest rate business debt with a loan with better terms and a lower rate.
- Operating Expenses – This includes short-term expenses such as marketing, membership programs, inventory purchases and day-to-day expenses.
- Rent – This includes the cost of renting the space your business operates in, or any other rental specific to the operation of your business.
- Utilities – This includes all utility expenses incurred by your business.
Note: The funds from the loan may be used for one category or may be split among multiple categories.
Yes, U.S. Nationals, Lawful Permanent Residents (LPRs), and U.S. Citizens are all eligible for NEWITY Growth Term Loans.
As of March 1, 2026, SBA Procedures prohibit Lawful Permanent Residents from receiving SBA loans.
Yes, you can apply for an SBA 7(a) loan or a NEWITY Growth Term Loan to refinance debt.
You may be able to use a lower rate SBA loan or NEWITY Growth Term Loan to pay off high-interest rate debt. You can also use these loans to combine multiple debts into one payment. If you qualify, your NEWITY loan specialist will walk you through the next steps.
You can refinance business loans and business credit card debt. Merchant Cash Advances (MCAs can’t be refinanced with an SBA 7(a) loan, but a Growth Term Loan can refinance. Neither SBA loans nor NEWITY Growth Term Loans can be used to refinance any type of personal debt.
To determine if you qualify, get started by submitting the loan application in your NEWITY account. It takes less than 10 minutes and does not impact your credit score.
SBA 7(a) Loans
An SBA loan is a government-backed loan that is available to small businesses that are owned and operated within the United States. The Small Business Administration created the 7(a) loan program as the primary method to provide financial assistance to small businesses.
The name “7(a)” is derived from the clause number and letter within SBA legislation that provides the standards for this specific loan program.
SBA 7(a) loans offer lower rates and longer terms than most business loans, which means lower monthly payments and a larger amount you can borrow. They’re also easier to get approved for because SBA loans are government-backed.
Yes, if you got an SBA 7(a) loan through NEWITY, you may be able to get a second one if you qualify.
To get started, log into your NEWITY account and apply. Your information will be saved from your first application.
SBSS stands for Small Business Scoring Service. It’s a score that ranges from 0 to 300 and shows lenders how risky it is to lend to your business. It’s based on your business and personal credit history plus other financial data
NEWITY Growth Term Loans
NEWITY Growth Term Loans are small business working capital loans provided by NEWITY & Northeast Bank and are available to small businesses owned and operated within the United States.
No, NEWITY Growth Term Loans are not SBA loans. They are small business loan products created and offered by NEWITY & Northeast Bank up to $200,000.
Like SBA 7(a) loans, they provide working capital, but with more flexible uses and different requirements to qualify.
Growth Term Loan fundings are temporarily paused due to high demand. We expect to resume funding in Q2 2026.
Note, SBA 7(a) Loans through NEWITY are fully available and actively funding.
SBA Grocery Guarantee Loans
The SBA Grocery Guarantee Loan is a new government-backed loan that helps small businesses in farming, grocery, and food processing access up to $1,000,000 in working capital. NEWITY is already accepting applications for the program ahead of the SBA’s May 2026 program launch date. Apply today to see if you qualify.
Your business must operate in one of these industries:
- Agriculture and farming (crop farming, livestock, agribusiness)
- Grocery and food retail (grocery stores, specialty food shops, co-ops)
- Food processing and packaging (manufacturers, packers, processors)
Additional requirements:
- Minimum annual gross revenue of $100,000
- FICO score of 600 or higher for all majority owners
- At least 2 years in business
Not sure if you qualify? Apply in under 10 minutes — it won’t affect your credit score. To get started, create a NEWITY account and apply.
You can borrow up to $1,000,000 for working capital. The loan term is 10 years at a variable rate of WSJ Prime + 3.00%.
Funds can be used for:
- Expansion and modernization of facilities and infrastructure
- Real estate and equipment purchases
- Technology, inventory, and supplies
- General working capital
Once you apply and select your loan offer, you’ll need to upload business and personal tax returns, debt schedules, and bank statements – or connect your bank through Plaid.
To see the exact files you will need, please visit our document checklist.
You can start your application now at newitymarket.com. Our team will review and submit your application to the SBA when the program opens in May 2026.
SBA Made in America Loans
The SBA Made in America Loan helps U.S. manufacturers, domestic or global, access affordable capital to upgrade facilities, strengthen supply chains, and bring production back to the U.S. NEWITY is already taking applications so you’re first in line when the program opens.
The program is open to U.S. manufacturers operating under NAICS sectors 31, 32, and 33. This includes:
- Non-durable and consumer goods: food manufacturing, textiles, leather, apparel
- Durable goods and processed materials: chemicals, plastics, paper, wood products
- Durable machinery and finished products: machinery, electronics, appliances
Additional requirements:
- Minimum annual gross revenue of $100,000
- FICO score of 600 or higher for all majority owners
- At least 2 years in business
Manufacturers with global operations are eligible; this program was built with them in mind.
You can borrow up to $1,000,000 for working capital. The loan term is 10 years at a variable rate of WSJ Prime + 3.00%.
Eligible use of funds include:
- Facility and production line modernization
- Equipment purchases, upgrades, and replacements
- Supply chain diversification
- Relocating or reshoring production to the U.S., including real estate purchases
- Hiring and expaning a domestic workforce
Once you apply and select your loan, you’ll need to upload business and personal tax returns, debt schedules, and bank statements – or connect your bank through Plaid.
To see the exact files you will need, please visit our document checklist.
You can start your application now at newitymarket.com.
NEWITY will review and submit your application to the SBA when the program opens in May 2026.
Application & Documents
Yes, you must provide 2025 tax returns or proof of extension if you prequalify for an SBA loan or NEWITY Growth Term Loan.
You can review the list of required documents on the Document Checklist.
Yes. If you pre-qualified but haven’t uploaded documents yet, please upload them. Once you do, your NEWITY contact will reach out. You can let them know you’d like to change your loan amount.
If you prequalified and uploaded documents, simply notify your NEWITY loan specialist that you’re interested in a different loan amount.
There are many factors that determine your loan amount. The final loan amount may be different from your requested amount.
No, NEWITY’s online application uses a “soft” credit check, which does not impact your credit score. This allows you to submit your application and see how much funding you’re qualified to receive without concern.
Once you submit your application, a member of our will contact you via email and outline next steps.
When your NEWITY representative reaches out, let them know what you need to change. We are happy to assist you.
No documents are needed to apply! Our 10-minute application will check if you prequalify without affecting your credit score.
Once you’ve chosen your loan, we’ll need a few documents, which can be found in the Document Checklist.
No, we need your actual tax returns. We’ll pull your IRS transcripts on our end. Look out for a consent request from your loan specialist. Note: The SBA needs tax transcripts from the IRS and your tax returns to process your loan.
Loan Servicing & Payments
During the loan closing process you’ll receive a link to view and download your closing documents. If you can’t find the link or the link has expired, you can request copies of your closing documents by reaching out to our loan servicing team.
Simply submit your request by filling out our contact form.
After your SBA loan or NEWITY Growth Term Loan closes, it takes approximately 2 weeks for the loan to be added to your account.
If you need assistance with logging into your account, please contact our member services team by filling out our contact form or calling us at (773) 839-8089.
Your first SBA loan payment from your bank account is due two months from the date of your loan note. For example, if your loan closed on June 15th, your first payment would be due on August 15th.
Your first NEWITY Growth Term Loan payment from your bank account is based on the date your loan was funded, but it always falls on the 5th of the month. The date your funding occurred influences your first payment date:
- If your Growth Term Loan funded between the 1st and 5th of a month, your first payment is due on the 5th of the following month. For example: A loan funded June 1–5 has a first payment due July 5.
- If your Growth Term Loan funded on the 6th or later, your first payment is due on the 5th of the month after next. For example: A loan funded June 6–30 has a first payment due August 5.
After your loan funds, we’ll email you a confirmation with all the specifics, including the date we’ll apply your first payment from your bank account, the date your first payment is due, and confirmation that you’re enrolled in autopay. If you don’t see this email within a few days of funding, please check your spam folder or contact us at [email protected].
Yes, your loan payments are set up to be drafted from the account listed on the voided check you provided during the loan closing process.
You can view or edit this information in your NEWITY account. If you have questions, please submit our contact us form or call us at (773) 839-8089. We’re happy to help.
Unfortunately, we are unable to change your SBA 7(a) loan payment due date.
However, you are able to change the date your payment is drafted from your account as long as this is before your payment’s due date.
There is no prepayment penalty for SBA loans. However, if you are paying more than 20% of your outstanding principal balance a written notice is required 21 days in advance.
NEWITY Growth Term Loans must be paid for at least 24 months before you can pay them off early without a fee. If you pay before 24 months, the penalty equals the interest that would have built up through the 24-month mark. You can submit these notices to our Loan Servicing team by filling out our contact form.
Yes, you can make additional payments on your SBA 7(a) loan or NEWITY Growth Term Loan above the monthly payment. However, the payments cannot be applied to future bills.
For example, you cannot make a large payment in March to cover the April and May payments. Payments go to interest first, then principal, then any late fees.
To obtain a payoff letter for your SBA 7(a) loan or NEWITY Growth Term Loan, you can request a payoff letter in your NEWITY account or email our billing team at [email protected].
Paycheck Protection Program (PPP)
We no longer accept PPP applications, but we can help you access other types of SBA loans or a NEWITY Growth Term Loan. To get started, submit an application. It takes less than 10 minutes and does not impact your credit score.
If you have a PPP loan that is serviced by NEWITY and need assistance, submit our contact us form and select a PPP option so we can get to your request faster.
NEWITY LLC and its affiliates are not lenders participating in the SBA loan program. NEWITY LLC is a lender service provider. SBA loans are ultimately processed and approved by a lender participant in the SBA loan program.
Yes, use our contact form and select PPP option so we can get to your request faster.
If you received your PPP loan or filed for forgiveness through NEWITY, the team is still on-staff and available to help if you have questions. To reach the PPP team, please submit the contact form.
Please note, PPP has ended. We can’t accept new PPP loan applications.
More resources to help you.
View our Guides & Webinars or our Insights blog for more resources on how to grow your business.