Janney has partnered with Newtek One, Inc., (“Newtek”), Newtek, operating through its affiliates (collectively, the “Affiliated Companies” and individually an “Affiliated Company”), including but not limited to, Newtek Small Business Finance, LLC; Newtek Merchant Solutions, LLC; Newtek Insurance Agency, LLC; PMTWorks Payroll LLC d/b/a Newtek Payroll and Benefits Solutions; Small Business Lending, LLC; Newtek Bank, National Association; Newtek Business Lending, LLC; POS On Cloud, LLC d/b/a Newtek Payment Systems; Newtek Technology Solutions, Inc.; and Newtek Business Services Holdco 6, Inc., to provide a platform of valuable services (collectively, “Newtek Services” and individually, a “Newtek Service”), including commercial business lending, commercial real estate financing, revolving lines of credit and Property & Casualty Insurance (P&C Insurance).  Newtek facilitates the ability of Janney financial advisors to make loan or P&C Insurance options available to Janney clients through Newtek One, LLC.

Lending

Janney is making this information publicly available to provide basic facts about Newtek and possible lending options they can provide.  Please consult your Financial Advisor regarding any questions or concerns you may have about Newtek.

Janney is not a lender and does not take or accept any loan applications, offer, or negotiate loan terms, make credit decisions for loans, issue loan commitments or rate lock agreements or originate, make or service loans.

Any loan application you make would be with Newtek and not Janney.  Janney does not make any representations or warranties regarding the rates, fees, or other loan terms offered by Newtek for its services and does not charge any related fees to consumers. Any interest and additional fees paid to Newtek in connection with the loan are separate from, and in addition to, the fees that you pay Janney for services on your Janney account(s).  Janney does not endorse, recommend, or provide advice on any of the services or products offered by Newtek. The services provided by Janney are as a referral tool that consumers may use among other resources to compare loans.  Janney does not guarantee that you will be approved for a loan.  Newtek may approve or decline the application. If your application is approved for a loan, Janney may be apprised of such information by Newtek.

For business or commercial loans, Janney will receive a onetime compensation payment of 75 bps of the loan amount for each loan that we have referred and is closed by Newtek. There is a financial incentive for Janney to utilize Newtek, however you are not required to use these services and can utilize other resources and tools to compare and negotiate, potentially more favorable, lending arrangements. Janney does not share this compensation with its Financial Advisors, and therefore, Janney Financial Advisors do not have a financial incentive if one Lender is selected over another.

Newtek is solely responsible for loan terms and underwriting of any loans obtained by consumers.  If, at any point, a dispute should arise between you and Newtek you should refer to your applicable loan agreement for further details.  Janney is not responsible for consumer satisfaction with any loan obtained through the Newtek. Credit lines and loans are subject to credit approval and creditworthiness.  Some restrictions may apply.

Consumers should be aware of the potential impact of rising interest rates on their loans.

Loan Options Available Through Newtek

  1. Term Loans: A business term loan provides the full approval loan amount to the borrower upfront.  The borrower then repays the principal and interest on the loan through a series of periodic payments over an agreed upon amount of time.  Term loans are generally given to businesses that need cash to purchase equipment, a building, or any other type of fixed assets.
  2. Revolving Lines of Credit: A small business line of credit is subject to credit review and annual renewal and is revolving.  Interest begins to accumulate once you draw funds, and the amount you pay (excluding interest) is again available to be borrowed as you pay down your balance.

Insurance

Newtek Insurance Agency, LLC, a division of Newtek, offers a concierge level service for P&C Insurance. Newtek offers Commercial Homeowners, Collectible, Fine Art & Private Collections, Auto and Umbrella/Excess Liability Insurance.

Janney does not endorse, recommend, or provide advice on any of the services or products offered by Newtek or its Affiliated Companies. The services provided by Janney are as a referral tool that consumers may use among other resources to compare insurance policies.

Janney is not compensated for insurance referrals and is solely acting as the referrer.  Client is not obligated to utilize Newtek or its Affiliated Companies for Commercial or Property & Casualty Insurance.

For more information about Janney, please see Janney’s Relationship Summary (Form CRS) on www.janney.com/crs which details all material facts about the scope and terms of our relationship with you and any potential conflicts of interest.

To learn about the professional background, business practices, and conduct of FINRA member firms or their financial professionals, visit FINRA’s BrokerCheck website: http://brokercheck.finra.org/