Newtek Business Services Inc., a New York-based payments company, says it has refinanced a $15 million line of credit with Capital One N.A.
The new deal replaces a line of credit Newtek had with General Electric Commercial Capital that matures May 31, Newtek says.
Newtek uses this financing primarily to lend money to small businesses through a U.S. Small Business Administration loan program.
Only 16% of 206 banking pros rated their institution "high" or "very high" — and most of those ratings rest on no formal measurement.
A proposed update to Basel III capital rules from federal banking regulators does not specifically include mortgage insurance as a factor in determining the risk weight for a mortgage loan held on a bank's balance sheet. Industry experts say it should.
The Dallas bank continues to advance a multiyear transformation strategy. On Thursday it laid out plans to expand its newly revamped private banking and family office business.
The Mortgage Bankers Association is recommending the option for Fannie Mae and Freddie Mac borrowers with strong credit with a tri-merge for others. Here's why.
Three months after the merger of equals between Pinnacle Financial Partners and Synovus Financial was completed, the company reported strong hiring trends. Executives say hiring success is key to the bank's growth strategy.
The Justice Department recategorized state and federally approved cannabis products from Schedule I to Schedule III, a move that falls short of full legalization but could ignite renewed interest from banks and credit unions in servicing state-legal cannabis businesses.
