Calling this bank is impossible. You will never talk to person. The endless music, nobody is available. I called them over 37 times. Useless. read more

"Warning: Newtek Bank takes a massive amount of personal data and charges high fees, yet they use every possible excuse to deny your loan. It seems they are more interested in collecting fees than actually lending. Avoid them at all costs." read more

I set up a meeting with Newell to see what all I needed to do when it came to SBA loans and veteran programs they provide, what do I need to approve on my credit score that would help the most and any programs that will help with business plans to help start a business. This would be my first business I have owned. I am not a expert and any of this by any means but a meeting that was supposed to be 30 minutes and only lasted 3 minutes the only thing I got out of it was we can not prequalify and do not have little experience in the industry because of that we can not help you. Don't believe them when they say they are there to help you with anything need to start a business if you already know everything about it it might be a good place to go but if you are looking for financial assistance and someone to help guide you through the process of it all it's not the place to go read more

DO NOT work with Newtek if you value transparency, customer care, or peace of mind. Our experience with Newtek has been one of the most unnecessarily stressful and disappointing business transactions we've ever gone through. They placed a lien on our home and then dragged their feet when we needed a partial lien release to access our VA loan benefits--something that should have been handled efficiently and respectfully, especially given the personal and financial stakes. Instead, we had to chase them for documentation, endure silence and delays, and deal with a drawn-out, anxiety-inducing process just to get what we were legally entitled to. After agreeing to pay all of the equity in our home just to get the release, they continued to delay giving us the final documentation we needed. It was clear we were not being treated as valued customers, but as a file on someone's desk that could be ignored unless pressured. When we attempted to pay down our loan aggressively with large lump sums and requested to restructure or close out the account, Newtek resisted--trying to force us to keep our account open and continue auto-draft payments on top of the lump sum already paid. Instead of offering any flexibility or acknowledgement of our attempt to resolve the balance, they insisted on maintaining the original monthly payment structure, regardless of how much we had already paid. To make matters worse, I saw an internal email from their legal counsel referring to us in a dismissive way--making it clear they did not care about us as customers, only about what benefits Newtek. That level of disregard was not only unprofessional but incredibly revealing about the culture behind the scenes. Newtek may appear to offer convenient SBA loans, but the strings attached, the lack of support, and the disrespect you may encounter behind closed doors make it absolutely not worth it. My warning to other business owners: If you're looking for a funding partner that treats you with respect, urgency, and integrity--look elsewhere. There are better institutions with cleaner processes and actual customer service. You will regret working with Newtek. read more

The SBA matched us with this company for a business loan and indicated they were the #1 Lender for businesses. We did everything they asked and their communication was terrible. We were informed that we were approved but never received the funding after two weeks! Totally unprofessional and obviously we are very disappointed and angry at Newtek Bank for their lousy service. read more

DO NOT give them your info! do your due diligence 1st and read the reviews. nothing but great things art too from sponsored links, but just scroll to very 1st real post or review. bad reviews. my wife and I called and emailed a bunch of times after we gave them all of our info and no one would return our calls or emails. I did however get sales calls from Newtek to buy insurance and other crap I did not need. they have sold/brokered our info to other brokers etc. the harassment from scammers claiming to be from SBA is mind boggling. no contact but they snuck a decline letter in on my application page that was complete. pre approval- we were able to provide all documents required and they knew our scores going in. no contact what so ever after docs submitted until after I file complaints in numerous places. newtek calls from blocked number (no caller info) and says with a rude tone "This is NewTek, What seems to be the problem? We're taking a survey." Disingenuous call from a unethical company... read more

Newtek Business Services - Paid for at the top(sponsored) and real posts/reviews just under those - Financial Advising Near Me - New York, New York

After reading these reviews, I am so glad I did not take a loan from this company. They started acting really shady and changed that my loan amount to double what I originally wanted. I caught it and told them I didn't want that much. in response I got " well just take it and pay it off early then". After they wouldn't answer any of my questions about loan origination fees, I started looking into the company a little bit more. Then they told me if I didn't sign within the next 24 hours, they would revoke my approved loan, -when clearly on my documents, I had another two weeks. I can't believe the SBA actually endorses these people let alone list them as some of their top lenders? It's absolutely disgusting and shame on the SBA. read more

I do not have time to give the full 9 week account of my attempt to close an SBA loan through Newtek. Suffice it to say, we were in closing twice, were yanked out of closing twice, both times for the same issue that the bank had previously approved, twice. The damage this institution did to my business has been profound, and nothing short of a confirmed sighting of the 4 Horsemen of the Apocalypse would convince me to ever have any dealings with this company again. read more

- Wasn't too bad a firm until we got hit with a natural disaster. Now they won't sign off on my insurance check to fix my house. To get the loan we collateralized our home and when it got destroyed, they had to sign off on the first "no questions" check from our insurance company. They are refusing to sign off, claiming "it's such a large check" and that they need receipts for the work done. There are no receipts b/c we haven't been able to pay for the work. Sent pics of our house and a screen shot of the first estimate we got which is more than the check they're holding hostage. Our insurance appraiser/rep offered to speak with them and explain how this first check works but they can't seem to do that. Don't expect great service from this company. They only want the interest payments from you and that's about it. They tried overcharging us b/c they didn't change our bank info for auto billing, even though we'd notified them two months ahead of time and completed ppwk at that time. They sent letters about our insurance expiring and that we could insure through them, they'd do it automatically if we didn't show we had insurance up to date, and we went with their offer. Then amazingly enough they claimed the coverage was cancelled 2-3mos prior to the disaster hitting. Claimed it was force place insurance and not flood coverage, even though the notice of premium said flood coverage on it. We went back to the withdrawals taken over time and there was no change to the auto withdrawal and no other withdrawals indicating the premium was being pulled. It appears they left us naked and uncovered the entire time, with no notice. Avoid them if you can read more

I just created an account with this so called Newtek Bank today Sunday February 25, 2024. After taking all my personal information such as; name, Date of Birth, address, Social security number Etc. When I log in it doesn't work. It always says it was an error. I tried to contact Newtek Bank regarding this problem and again it says it was an error. I tried to change my log in ID and password thinking perhaps I can log in, and again it says it was an error! This is ridiculous! This sucks! Hope Newtek bank doesn't share or sale my personal information. read more

I have to be honest in my opinion of Newtek Lending. They are are quick to gather information and if approved, they will get back to you quickly. However, when there is a decline...they will NOT tell you. You will need to chase them down if it is declined. IMHO is that they need to be able to deliver both good and bad news with the same speed. I do not recommend these folks based on past experiences with them. read more

Newtek Lending will issue a preapproval with the SBA loan process. Then, they will make constant mistakes and requests with the portal, and will string you along for 30-45 days with a preapproval and underwriting process only to decline and end it after you have done a month plus work of work and documents and verification. I am glad my loan fell through before I read these reviews because now I know how others felt. read more

If i could give 0 stars i would. Need an SBA loan go elsewhere. They will mislead you for weeks telling you everything looks great, complete waste of time. read more

I did the process of business acquisition with them. At the day of closing, they asked me for additional $161k or else they would not close. I was left with no option rather than coughing up the additional $. I will highly recommend against this company and their borrowing process. They are completely online that is another big red flag. You can never reach them and even after leaving several voicemails they will never get back to you. I will say on thing you can avoid this bank and be 1 million steps ahead. read more

They charging Hella money after I canceled my application with them,, I request for refund and they start to hide away from you.. when they want you to loan their money they called you every freaky day.. when you canceled your application with them you never can't find them... it felt like they not in this world anymore... The SBA recommended the wrong lender... read more

This was a potential lender recommended by the SBA. I am appalled that SBA would recommend these rip off artists. After weeks and weeks of providing reams of documentation of sensitive financial information from me and about my 17 year old business, I continue to get request after request for more information with no resolution in sight. Nor would they tell me precisely what my interest rate would be on such loan. I wish I had taken the time read all these negative reviews before I started this process, wasting so much time, effort and energy. I DO NOT recommend them. read more

I'd recommend to stay away from this company. I was pre-approvad for a business loan and give the company a $1250 good faith deposit to complete all loan requirements to include closing and funding the loan. I was working with an Alexander and he definitely slandered the requirements and process. Subsequent taskers right up to closing day to satisfy loan requirements made the process extremely stressful (I've been through a dozen or more loan & mortgage approval processes and nothing came close to Newtek's shotgun takers throughout the month long process). Through the process I did find another lender that I will most likely be utilizing as I've heard good reviews from first hand users. The lack of transparency of Newtek, and integrity issues with the loan broker were the major reasons I backed out of there business loan. Sadly the good faith estimate which I was told was refundable will not be refunded. If that is what is costs to get out of bed with a shady company than I suspect it will have been worth it. If you do go with this company do your diligence ahead of time. read more

NewTek steered me through the process of getting my SBA approved loan with helpful guidance every step of the way and now I own my first pizza joint! read more

Check out the reviews for this company, be it internal from staff or external from loan applicants. Big yikes. My experience aligns with the others. Not trustworthy; they'll take your application fee and disappear. Stay away. read more

Paid our loan in ful July 23 yet they have not released liens on titles held for collateral. as of October 2023. Rep Arnaldo laughed, lied abd laughed again. He seems gain pleasure from our frustration. , this company does not care about your business. Beware!! read more

I called Newtek about a loan for a ground up franchise. The franchise figures are McDonalds x 40% (40% of the land, development costs, revenue, and pre-tax profit---thus, just as profitable as a McDonalds on a return basis). To make a loan, Newtek requires: secured first position in the development (lets call it $100), 10-20% cash equity in the transaction ($20), unrelated real estate and equipment equity value equal to 80% of the transaction ($80), and SBA approval (which is = to the government pledging $80). Finally, you need to have outside income and personally guarantee the loan....but let's just set that aside for now. All total, Newtek requires $280 in security to make a $80-90 loan. NO ONE SHOULD BORROW MONEY FROM NEWTEK BASED ON THIS CRITERIA. This type of lending should be illegal. read more

The worst lender ever. Failure to follow thru on all levels of PPP loans already approved and funded by the SBA. Waited for over two months and nothing but false promises! Withdrew application, used another lender and was funded in 5 business days. Newteks lack of closing and funding probably put some folks out of business. read more

Made me wait and wait and now we are 5 days from no longer able to get a ppp loan. HORRIBLE COMPANY!!!!!! No responses from anyone. Closer never called. Just a very sad way to do business. read more

The statement from my previous credit processing company was so complicated I could not reconcile my charges through my business account with my checking account. Newtek has made my accounting work easy & understandable. read more

Newtek is a very incompetent lender. They made me miss the PPP loan from the government because their employee was on maternity leave. Then to make matters worse they deleted my original application which we put in on April 3, 2020. Newtek is horrible to deal with and extremely slow to respond. DO NOY USE THIS COMPANY FOR ANY LOAN. read more

Newtek Merchant Solutions are crooks! They charged me for an annual fee I was not aware about for an account I had not used in months with Clover. Clover provided poor customer service which prompted me to look elsewhere for better credit card services. I called Newtek right after I was charged and was told I would get a refund for the new annual fee of $99. I called today since I had not seen that refund and the "supervisor" denied the request for refund. If you are looking for more reliable and honest credit card services, look elsewhere--this company is NOT what you want. If you want to just give money to a corporation because you have money to burn, then feel free to donate it to Newtek Merchant Solutions--they will take your money for providing NO service! read more

I inquired to the SBA about a very small business loan to help expand my real estate business. Representative Faustino Gonzales from Newtek reached out and set an appointment with me for the next week. We had a phone conversation and I thought it was interesting when we spoke that he indicated that I would need some collateral for a 40k loan and I should take a loan out on my home instead. I have a high income and I have excellent credit and documentation to backup my position. I could understand if I was requesting a six figure loan but he didn't seem interested in helping. The icing on the cake is, he disconnected the call in mid conversation! I allow for phone issues, so I waited for a call back and I even tried to call him back but didn't get an answer, nor did I get a follow up email. His actions made his company seem very undesirable to work with and after reading the reviews about the company, I am inclined to believe all of it. I am now working with one of my current financial institutions and I think I will just keep it right there. SBA needs to be aware of the type of financial lenders they are pairing people up with. I advise anyone looking for a small business loan to skip this company and add them to your "Do Not Disturb" list. read more

Newtek Business Services solicited a loan that they CANNOT fulfill. They targeted me through the SBA.gov and defrauded me to send in HIGHLY CONFIDENTIAL documents related to a loan application. Weeks later, their rep (Daniel Mass) made outrageous presumptions about our business plan (from partnering with another couple to stating that they couldn't underwrite a loan without a structure) though these items were discussed PRIOR to submitting the consuming documents of personal information. This company claims to underwrite SBA loans, yet even with perfect credit and a highly detailed business plan to drive this success, the company balked and said that they couldn't underwrite such a loan ($175K). Waste of resources and now my information is a victim of fraudulent advertising. The SBA will be forewarned. Update: March 2018, Newtek servers were hijacked, according to the NJ Cyber Security Communications Patrol. Search "Newtek" "Cybersecurity" "New Jersey" "threat" And it seems that their dirty tactics have made them suspicious by the FBI, according to Newsday, which has led to an in-office raid: Search "Newtek" "FBI raid" "Indiana" read more

The office in New Hyde Park, NY has a management team that put the employees one against another. People don't respect each other and are mostly afraid that someone can tell on them behind their back. They don't have a team spirit. They humiliate people. They call you in to work for them during a busy season. Once the season is over they lay off the people. They don't give an actual reason but make up a false report. Most mentally healthy and friendly people leave this company because they can not survive there. read more

horrible, frustrating experience! newtek sucks!!!! having a website and updating it is enough work.... but with newtek, you will spend your days having website issues (not being able to upload, username doesnt work, site has been hacked).... i have called newtek tech support hundreds of times!! i know many by first name! because there is always a f'in issue to deal with! host the site yourself --- but do not use this company for hosting! horrible, frustrating experience! read more

Very unprofessional, and the reviews prove what I've suspected about this company. Was attempting to receive funds but received judgment from Faustino Gonzales before I supplied the entire details. I'm cutting off my application and my ties to this company. read more

I used newtek for my web hosting and merchant credit card processing .They use a company called trust wave for compliance issues for both your web page and credit. You have to fill out forms and constantly review your web page to stay in compliance. If you are out of compliance in any way you get charged a fee. The company was very unresponsive to any concerns I had and would not budge on the extra fees charged. Look elsewhere for your web hosting. There are better companies out there I will never use them again, read more

Wait and wait and wait now we are no longer able to get a loan. HORRIBLE COMPANY!!!!!! No responses from anyone. They will drag you to the end and then you are out money you have paid for inspections and fees. HORRIBLE COMPANY!!!!!! read more

Terrible PPP lender. Nonresponsive and intentionally make it so you can't reach them by phone. The platform is not intuitive. Avoid them at all costs. Funding Circle is much better and very responsive. read more

Horrible Experience DO NOT use.. Don't waste your time. Put in application for PPP, sba approved and for 2 months they toyed around, never returned emails or phone calls. I finally have withdrawn my application, but now must look for new lender within limited time. Unprofessional, rude, unconcerned, not business oriented to say the least. read more

I have my Bank Contact in there system 6 weeks and email every day small business here down . They don't answer anything ?

Should of read reviews before applying for an sba loan over a month ago submitted all documents requested. Now they say more documents needed that I already submitted and now it's gonna be another 3weeks before I have an answer. Seriously guys after you told me this 3 weeks ago I would have an answer. Obviously they don't know what they are doing there read more

DO NOT DO BUSINESS WITH THESE PEOPLE. I lost everything due to the Almeda Fire in Oregon. I was approved for $8,500 by the SBA these crooks gave me $800 and took the rest were complete jerks to me their closers are lazy and can't do their jobs The lending supervisor basically told me to f*** off to and he said it to somebody who is a small business owner who has been through two horrific major life changing disasters in one year and didn't care unprofessional customer service was a double negative zero timeliness was a double negative zero if I could give them a negative 10 I would jerks and thieves is what you'll get if you do business with these people my contact at the SBA called my case with them and extreme case. read more

Back in the day, Crystal Tech was a solid Web hosting service. Then it was bought out by The SBA and had some early problems but seemed to stabilize. Then NewTek bought them out and the problems really started, particularly with a particularly frustrating (for clients) issue of hijacked nameservers in Feb. of 2018 which was "covered up" by Newtek and then led to all kinds of problems including service and performance problems, a real CF. In the summer of 2019, they had some serious problems after they "updated" their servers, and the DDOS's over the years. Currently, I am simply trying to get a site hosting account cancelled and nothing has been done for 4 days. Pretty easy to turn a site off and note that in the Billing records, I would think. At one point, I had almost 40 sites hosted here but I have been gradually moving all sites off their servers. Soon, I will be down to 5 or so. I recommend going elsewhere... read more

DO NOT USE THIS COMPANY.... Where to begin? This company has been a nightmare! Between the lack of internal communication and organization this has bee the worst business decision I have ever made. We applied for an SBA loan and a line of credit to help us with payroll and pay for equipment. The process was just a pain! They asked for so many documents and paperwork that we found ourselves working overtime to send everything in. The representative assigned to our case, which was a different person every day, was asking for documents that were submitted the day before, so we did double the work. They have zero organization skills and were unable to give a straight answer when we called in. Within the first month of the application process we had to make a payment. After six months of submitting documents and paying half of the equipment ourselves they decided to give us a closing date. They change the date week after week, then another four months went by with the excuse of new documents needed before closing. Finally, after waiting so long they finalized the closing date and time. without any notification a notary arrived at our office with no contract to sign and telling us that the contract was supposed to be overnighted to us to be signed the next day. After closing we had no idea that we needed to wait for a second process for the line of credit... again waiting and waiting while not been able to do anything or get additional funding. The following day we received a check to pay our vendor's broker for the equipment. They check had a foreign address and the name on the check was not even the correct name, again this goes back to the lack of organization and communication. The loan office just told us to give the check to the vendor and let them deal with it. Our vendor tried to deposit the check and the broker's account got close due to the foreign address and not having the full name on the check. We tried to call to get assistance and the loan officer just told us that he had no time for this and had too many cases to work on and hang up the phone. They had to recall the check. then they accuse of fraud and even try to intimidate us saying that an investigation was open because we didn't do business with no vendors. they didn't do anything even after they contacted the owner of our vendor which confirmed that we did, in fact do business with them. No check has been received and here we are still waiting for the check to be recall. Every time we called to get an update no one was able to give us an answer and just told us that an email was sent... there is no communication within departments and no one had an answer for us. Nothing was explained to us on how the process for the line of credit worked. They assigned a representative for the line of credit to "supposedly" help us with the process. However, she didn't take the time to explain anything and just dump a bunch of information, talking extremely fast! And she has no patient at all. She then asks me to submit request on the portal they use, without explaining or showing us how to use it, when I ask her for help she just emailed an outdated guide which had nothing to do with the portal. Then after having all our client's payments rerouted to them they decided to freze our account due to the "investigation" and we didn't get funded, so we had no funds available and all of our client's payments had been sent to them, so we had no money for payroll. We decided to terminate all relationship with them and sent out an email asking them for the next step to terminate. After three days of waiting they sent us an email with a letter showing a balance and a note stating " we have decided to terminate our contract" then the representative assigned to our account sent an email to our client directly asking for status of a payments which was escalated to the owner of our client. This was just unacceptable in many levels... they were supposed to contact accounting not the owner. Apparently, our nightmare will continue until we receive a release letter. Please safe your time and money DO NOT USE THEM! read more