NEWTEK BUSINESS SERVICES CORP. (NASDAQ:NEWT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On November 27, 2018, a wholly-owned affiliate of Newtek Business Services Corp. (“Newtek”), Newtek Commercial Lending, Inc., and a wholly-owned affiliate of BlackRock TCP Capital Corp. (“BlackRock TCP”), Conventional Lending TCP Holdings LLC, entered into a joint venture, Newtek Conventional Lending, LLC (the “JV”), governed by the Limited Liability Company Agreement for the JV. Newtek and BlackRock TCP each committed to contribute an equal share of equity funding to the JV and each will have equal voting rights on all material matters. The JV intends to deploy capital over the course of time with additional leverage supported by a warehouse line of credit. The intended purpose of the JV will be to originate commercial loans to middle-market companies as well as small businesses.
The information in this report shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement to the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
Newtek Business Services Corp. ExhibitEX-10.1 2 newtform8knov292018ex101.htm EXHIBIT 10.1 ex101newtekconventionall Exhibit 10.1 NEWTEK CONVENTIONAL LENDING,…To view the full exhibit click
About NEWTEK BUSINESS SERVICES CORP. (NASDAQ:NEWT)
Newtek Business Services Corp. is a non-diversified closed-end management investment company. The Company is engaged in non-bank lending providing a range of business services and financial products under the Newtek brand to the small- and medium-sized business (SMB) market. Its products and services consist of Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), e-commerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll Solutions. The Company offers services along with its controlled portfolio companies. The Company’s portfolio consists of guaranteed and unguaranteed non-affiliate loan investments that are through its small business finance platform.