NewtekOneReviews of newtekone.com

NewtekOne’s process is extremely disorganized. There is clearly no internal coordination between teams—documents are requested multiple times, even after being uploaded and confirmed. It feels like no one is actually reviewing the file properly. Communication is even worse. Emails go unanswered for weeks, and when responses do come in, they often don’t address the actual questions asked. For a lender handling business funding, this level of responsiveness is completely unacceptable. What’s most concerning is the amount of time wasted. After going through their lengthy process, submitting full documentation, and complying with every request, the application was ultimately declined with vague, generic explanations that don’t align with the information provided. It gives the impression that decisions are either poorly reviewed or made without a clear understanding of the business. If you value your time, avoid this lender. There are far more professional institutions that communicate clearly, respect your effort, and operate with a structured underwriting process. NewtekOne needs serious improvements in organization, communication, and accountability.

NewtekOne has consistently raised prices on my com/lia insurance while the service continued to deteriorate year after year. Every year I ask them to re-evaluate my policy with unsatisfactory results. Well now that I found a better agency to handle my insurance...at a much better price (line for line)... I'm getting zero cooperation from them on the cancellation. If you're dealing with Y.G., you're in for a real treat. In today's business world, I'm not surprised that someone with such a dignified title is so lackluster on their desire to serve the customer. I never really had any great experience with Newtek and now that I'm done with them, the level of service is even worse. My next step is to go to the BBB and any other form of social media until I can "inspire" them to respond to my email. They do collect your money real well though. If thats what you're looking for then they are an easy 5 star. Oh…. One more thing…. Did anyone happen to notice the canned responses on this review site? I can’t wait to read the response to a 1 star. If i had to guess it will go something like this…. “ We’re sorry to hear that you had a negative experience with Newtek. We take all feedback seriously and would like to make things right. Please contact us at hello at newtekone.com so we can discuss the issue further and find a solution. Thank you for bringing this to our attention.” For your information i did email hello at newtekone.com and it proved to be a waste of time. Why do you think I’m giving you a 1 star.

Wasn’t too bad a firm until we got hit with a natural disaster. Now they won’t sign off on my insurance check to fix my house. To get the loan we collateralized our home and when it got destroyed, they had to sign off on the first “no questions” check from our insurance company. They are refusing to sign off, claiming “it’s such a large check” and that they need receipts for the work done. There are no receipts b/c we haven’t been able to pay for the work. Sent pics of our house and a screen shot of the first estimate we got which is more than the check they’re holding hostage. Our insurance appraiser/rep offered to speak with them and explain how this first check works but they can’t seem to do that. Don’t expect great service from this company. They only want the interest payments from you and that’s about it. They tried overcharging us b/c they didn’t change our bank info for auto billing, even though we’d notified them two months ahead of time and completed ppwk at that time. They sent letters about our insurance expiring and that we could insure through them, they’d do it automatically if we didn’t show we had insurance up to date, and we went with their offer. Then amazingly enough they claimed the coverage was cancelled 2-3mos prior to the disaster hitting. Claimed it was force place insurance and not flood coverage, even though the notice of premium said flood coverage on it. We went back to the withdrawals taken over time and there was no change to the auto withdrawal and no other withdrawals indicating the premium was being pulled. It appears they left us naked and uncovered the entire time, with no notice. Avoid them if you can

Tried to open a 6 month CD. The process was cumbersome. They wanted a copy of my SS card, a utility bill verifying my address, etc. Then today I got a request to unfreeze my credit reports. Absolutely ridiculous. I'm giving them money, not taking a loan. I've opened 25 other CDs in the past year online. Never have I had this horrible experience. As of a few days ago, NewtekOne is asking for more information to verify I'm a person. How ridiculous considering all the information I provided. Why not just pick up the phone or email me directly? Stay away from this bank.

Worst experience ever. Was assured process should be simple and lending specialist trusted that loan would get approved. Completed process, provided all documentation needed. Poor communication, never a call back, never a response to email, call no one knows anything. Finally a person got on phone and said "your application was denied." This process started in August, ending in November, with me having to call in several times. This company is a complete joke! Let's good entrepreneurs working hard to have their time truly wasted. I should have listened to the reviews I read. Some businesses had to close behind NewTek promising funding then denying later.