NewtekOne to Offer Banking and $5K–$15M Loans to 190,000+ Merchants handling $125B Volume
NEWT•NewtekOne has formed a strategic banking alliance with Payroc to offer its over 190,000 merchants access to financing from $5,000 to $15 million with 10–25 year amortization and real-time payroll services. Merchants will also receive depository products including a zero-fee business checking account paying 1% and a 3.50% savings rate.
1. Strategic Alliance Formation
NewtekOne and Payroc have agreed to a strategic banking partnership integrating NewtekOne’s business and financial solutions into Payroc’s platform, which serves over 190,000 active merchants processing more than $125 billion in card and ACH volume annually. Payroc selected NewtekOne as its preferred embedded finance partner after evaluating potential providers.
2. Financing and Depository Solutions
Participating merchants will gain access to loan products ranging from $5,000 to $15 million with 10-to-25-year amortization schedules, including the Newtek Seven Day Business Loan™ and Triple Play™. The partnership also introduces Newtek’s Zero-Fee Business Banking® account offering 1% interest on checking and a 3.50% savings rate, plus a Visa-branded debit card.
3. Payroll, Insurance and Technology Integration
The alliance offers real-time payroll functionality with same-day payroll execution and a suite of commercial insurance products. NewtekOne’s NewTracker® processing system will track merchant referrals from application through closing, ensuring transparency and high service levels.
