NEWITY LLCReviews of newitymarket.com

The whole process was misleading and deceptive. The told me on intrest price than at closing it almost tripled. When I called it out they claimed it was a glitch in the computer system and they refused to honor the original rate. In the end I was already over a month in so had no choice but to take the loan. I would definitely apply here only as a last resort. They will more than likely reply to any bad comments with something making it look like they didnt do anything wrong but I will 200% be reporting them to SBA , CFPB, BBB and FTC. Their practices are definitely fraudulent and criminal.

My experience with Newity Bank has been disappointing for several reasons: 1. I was initially approved for a $53,000 loan and signed closing documents reflecting that amount. However, just before the final payment was sent, the approved amount was unexpectedly reduced to $33,000 without any prior notice or explanation. 2. I was repeatedly asked to submit documents that I had already provided, which created unnecessary delays and confusion. 3. Communication was consistently slow—often taking weeks to receive a response, only to be met with additional requests for more documentation. 4. Every time I contacted customer service, I received conflicting information regarding my loan status, which made the process even more frustrating. 5. Overall, the communication between myself, the broker, and Newity Bank was poor. Reducing the loan by $20,000 without explanation, after an additional five-week delay in disbursing the funds, was both unprofessional and unacceptable. It reflects a serious lack of transparency and integrity within the organization. It’s disheartening to see how easily federal funds are distributed to non-citizens—often without thorough background checks or documentation—while I, as a lifelong American citizen, face roadblocks in securing a business loan intended to create jobs and sustain my business. The disparity is deploy troublesome.

Newity makes a promise of making SBA 7a loans more streamlined. That promise was far from fulfilled in my case. They are also not transparent at all about what you qualify for or what the underwriting criteria are up front. I was initially told I qualified based on my business type and revenue, then later completely denied a SBA loan once the application reached Northeast bank based on my business type. If you have a modern business that operates online, don't waste your time with Newity or Northeast bank as they will tell you that you aren't a legitimate business. Huge waste of my time, please save yours.

I worked with this organization for eight months on an SBA loan. After submitting countless documents and going through what seemed like an endless process, the loan was finally approved and moved to closing. That’s when things fell apart. Three weeks into closing, they kept asking for more information—details the underwriter should have addressed earlier. Then they discovered an old UCC filing that had somehow been missed entirely. As a result, the loan was suddenly denied at the final stage. If the loan was already approved, why wasn’t the UCC thoroughly checked beforehand? The communication was also incredibly poor. There were long stretches—sometimes weeks or even months—where no one responded to emails or provided updates. When the loan was ultimately denied, instead of a call, I received a flood of generic apology emails from different people, promising better staff training and wishing me luck. Overall, this was an exhausting and disappointing experience. The process felt disorganized and unprofessional, and it was clear that several people involved didn’t fully understand what they were doing. I would not recommend this organization to anyone seeking reliable, transparent lending processes. The worst thing there is no phone calls its all emails. The other thing is they just vanish for.weeks and months, no communications nothing.

Poor communication

Working with Newity was a total nightmare. it took them 6 months. They would ask for one document at a time and than ask for another and another. Get your act together and ask for all documents art once. Nothing but terrible customer service. Avoid them like the plague

NOT GOOD SERVICE . DONT SAID NOTHING ABOUT REAL INTERES. DONT SHOW THE STATEMENT RIGHT. HAVE HIDDEN FEES . I NEED TO KNOW HOW MUCH I PAID FOR INTERES AND HOW MUCH GO TO CAPITAL, ONLY BLAME TO THE SYSTEM.

They started off saying we qualified for 500,000 than after weeks and much time spent with them, they said we only qualified for 50,000. than after several more weeks and paperwork they said because we had an SBA already, we didn't qualify for anything. They waisted our time and resources. It would have been easy to check this qualification from the beginning . Not impressed.