Newtek Business Services increased the aggregate principal amount of its term loan facility with Goldman Sachs Bank USA to $50 million from $38 million.

Concurrent with the increase in the aggregate principal amount of this term loan facility, NMS, Premier, SBL, BSP and NTS received a reduction in the interest rate of between 1.0% and 2.0% from the present facility. The term of this facility has been extended through June 21, 2021.

Barry Sloane, chairman, president and CEO, said, “This additional financing gives us increased flexibility to continue to grow our business as we seek synergistic investments in the business services arena, as well as provides us with additional general working capital. Our business model continues to prove its value and, as a result, has enabled us to access capital at increasingly attractive rates, demonstrated by this rate reduction in the Goldman Sachs term loan and the interest rate reduction we received when we increased our revolving credit facility with Capital One last month.”

Newtek Business Services provides a wide range of business services and financial products under the Newtek brand to the small- and medium-sized business market.