NewtekOne’s 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 (ALP) loans before they are placed into securitizations. The amendment provides for, among other things, a facility increase to $170 million.
Deutsche Bank has been an ALP warehouse lender to the company since 2019. As previously reported on April 23, the company closed a $184 million securitization backed by $216 million of ALP loans, which represented the company’s third asset-backed securitization secured by ALP loans, and the company’s 16th rated securitization.
“We appreciate the ongoing support from Deutsche Bank as we continue to grow the ALP business, which is as an important element to the company’s financial performance,” Barry Sloane, chairman, president, and CEO of NewtekOne, said. “Deutsche Bank has proven to be a valuable, steady partner, having led our last ten securitizations.”
