Newtek Partners with Pennsylvania CU to Deliver $679,900 in Growth Capital for Small Business to ‘Brew’ Their Own Thing
December 5, 2022
In early 2022 Newtek struck a strategic partnership with a small, regional credit union in Pennsylvania to increase their product offerings for their business owning members.
The business member had exhausted their other lending options and looked to their credit union for help in obtaining financing necessary for expanding their business.
Through the partnership referral program with Newtek, credit union staff were able to provide a warm hand off of the member and allowed for Newtek to walk the member through their lending programs and find a solution that fit the member’s short- and long-term goals.
By working with Newtek, the credit union was able to meet the member’s financing needs and keep the member’s deposits in-house by not allowing another financial institution to step in.
Download the case study to learn more about how Newtek's lending programs and how they were able to partner with this credit union to preserve a popular business in the community.
Businesses expect more and Newtek Business Services Corp (NASDAQ: NEWT) delivers core solutions that help businesses grow. As a partner, Newtek provides business lending, merchant processing, payroll, insurance and website/technology services that credit unions can offer to members. Their model ensures that credit unions keep their members doing business with them, rather than looking for other providers. Newtek enhances the relationship and strengthens the dependency between businesses, members and the credit union.