NewtekOne upsizes warehouse facility to support ALP business growth

NewtekOne (NEWT) announced that its consolidated subsidiary, Newtek ALP Holdings, amended and upsized its revolving credit facility with Deutsche Bank, which facility is employed to fund the origination of Alternative Loan Program loans before they are placed into securitizations. The amendment provides for, among other things, a facility increase to $170M. DB has been an ALP warehouse lender to the Company since 2019. As previously reported on April 23, the Company closed a $184M securitization backed by $216M of ALP loans, which represented the Company’s third asset-backed securitization secured by ALP loans, and the Company’s 16th rated securitization.