NewtekOne, Inc.'s consolidated subsidiary, Newtek ALP Holdings, has successfully amended and expanded its revolving credit facility with Deutsche Bank AG. This facility, which supports the origination of Alternative Loan Program (ALP) loans, has been increased to $170 million. Deutsche Bank has been a consistent warehouse lender for the ALP since 2019, and this expansion aligns with NewtekOne's ongoing strategy to bolster its ALP business. Earlier this year, NewtekOne closed a $184 million securitization backed by $216 million in ALP loans, marking its third asset-backed securitization in this category. CEO Barry Sloane expressed appreciation for Deutsche Bank's unwavering support, highlighting its role in leading the company's last ten securitizations.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.