NewtekOne closes $295M ALP loan securitization, its largest; weighted average yield 6.08%

NewtekOne, Inc.

Closed $295M securitization (Class A $251.9M, Class B $35.9M, Class C $6.8M) backed by $342M of ALP loans.
Notes priced at weighted average yield of 6.08% and spread of 243 bps (improvement from 271 bps in prior ALP deal).
Securitization was 10x oversubscribed by 32 institutional investors; advance rate 86% vs 85% in 2025.
Collateral pool has gross weighted average coupon of 12.74%; net of 100 bps servicing is 11.74%.
Since 2019, NewtekOne originated ~$850M of ALP loans with only 6 defaults and 1 charge-off ($6M).

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