Can I apply for my clients twice?
Clients are eligible for reapplication every 90 days. Re-submitting or creating a new application for your clients in less than 90 days is not permitted.
Why isn’t my client appearing in my partner portal?
Your client will not appear in the Business Loans tab until they’ve started an application. If your client has created their NEWITY account using your referral link, they can be located on the Marketing Leads tab under Created Account. When your client begins an application, they will move from the Marketing Leads tab to the […]
What will my clients see when they complete the Ownership Information section?
When you apply on behalf of your clients, you’ll be required to share the Ownership form with them to complete the necessary information themselves. View our video overview of the Ownership Information process to learn more.
When are referral fees paid?
Referral fees are processed for payment twice per month: At the end of the current month for loans funded on the 1st through the 15th. By the middle of the following month for loans funded on the 16th through month-end.
What is NEWITY’s referral fee incentive program?
Effective 7/1/25, the referral fee achievement program enables partners to increase their referral fees from 2% to 3% over a quarter. Partners with $4.5M or more loans funded by Northeast Bank within a quarter will earn a 3% referral fee on all loans funded by Northeast Bank the next quarter. For example, to earn a […]
When are loans counted towards the $4.5M hurdle in the incentive program?
Loans are counted towards the $4.5M hurdle when: 1. They’re funded by Northeast Bank 2. The close (funded) date is between the first day of the quarter and the last day of the quarter 3. The loan was referred via the partner
How will I know if I will earned the 3% referral fee next quarter?
The partner team will notify you if you have met or exceeded the $4.5M hurdle and will earn 3% referral fees in the next quarter.
Is there an incentive program for non-Northeast Bank loan products provided through NEWITY?
Not at this time. This program is for Northeast Bank-funded loans only.
What kind of loan is the NEWITY Growth Term Loan?
NEWITY Growth Term Loan is a business term loan offered through the NEWITY platform. It is similar to an SBA 7(a) loan, without government approval or involvement.
If my client already has an SBA loan through NEWITY, can they get a NEWITY Growth Term Loan?
Businesses with an existing SBA loan through NEWITY can apply for a NEWITY Growth Term Loan one year from their SBA loan funding date.