Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

(Mark One)    
x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2018

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____to_____
Commission file number: 814-01035
NEWTEK BUSINESS SERVICES CORP.
(Exact name of registrant as specified in its charter)
  
Maryland
 
46-3755188
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification No.)
 
 
 
1981 Marcus Avenue, Suite 130, Lake Success, New York
 
11042
(Address of principal executive offices)
 
(Zip Code)
Registrant’s telephone number, including area code: (212) 356-9500


Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ¨    No  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company (all as defined in Rule 12b-2 of the Exchange Act).
Large accelerated filer
 
o
Accelerated filer
 
x
 
 
 
 
 
 
Non-accelerated filer
 
o
Smaller reporting company
 
o
 
 
 
 
 
 
 
 
 
Emerging growth company
 
o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial or accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x
As of May 8, 2018 there were 18,666,651 shares issued and outstanding of the registrant’s Common Stock, par value $0.02 per share.




TABLE OF CONTENTS
 
 
 
Page
 
 
 
 
 
 
Item 1.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Item 2.
 
 
 
Item 3.
 
 
 
Item 4.
 
 
 
 
 
 
Item 1.
 
 
 
Item 1A.
 
 
 
Item 2.
 
 
 
Item 3.
 
 
 
Item 4.
 
 
 
Item 5.
 
 
 
Item 6.




Defined Terms

We have used “we,” “us,” “our”, “our company”, and “the Company” to refer to Newtek Business Services Corp. and its subsidiaries in this report. We also have used several other terms in this report, which are explained or defined below:

Terms
 
1940 Act
Investment Company Act of 1940, as amended
2016-1 Trust
Newtek Small Business Loan Trust, Series 2016-1
2017-1 Trust
Newtek Small Business Loan Trust, Series 2017-1
2021 Notes
7% Notes due 2021
2022 Notes
7.5% Notes due 2022
2023 Notes
6.25% Notes due 2023
ASC
Accounting Standards Codification, as issued by the FASB
ASU
Accounting Standards Updates, as issued by the FASB
ATM Equity Distribution Agreement
At the Market equity distribution agreement between the Company and JMP Securities, LLC, Compass Point Research & Trading, LLC, D.A. Davidson and Ladenburg Thalman & Co., Inc., as amended and restated on September 6, 2017
BDC
Business Development Company under the 1940 Act
Board
The Company's board of directors
Capital One
Capital One Bank, N.A.
Code
Internal Revenue Code of 1986, as amended
DRIP
The Company's dividend reinvestment plan
EBITDA
Earnings before interest, taxes, depreciation and amortization
Equity Incentive Plan
The Company's 2015 Equity Incentive Plan
Exchange Act
Securities and Exchange Act of 1934, as amended
FASB
Financial Accounting Standards Board
Goldman Facility
Credit and Guaranty Agreement between UPSW, NTS, Premier, BSP, SBL and GS Bank; as amended on June 21, 2017
Goldman Sachs
Goldman Sachs Bank
LIBOR
London Interbank Offered Rate
NAV
Net Asset Value
Related Party RLOC
Unsecured revolving line of credit agreement between UPSW, NTS, Premier, BSP and SBL as lenders and Newtek as borrower
PLP
Preferred Lender Program, as authorized by the SBA
Redemption Date
March 23, 2018
RIC
Regulated investment company under the Code
S&P
Standard and Poor's
SBA
United States Small Business Administration
SBLC
Small Business Lending Company
SBIC
Small Business Investment Company
SEC
Securities and Exchange Commission
SMB
Small-and-medium sized businesses
Sterling
Sterling National Bank
Sterling 504 Facility
Loan and Security Agreement between NBCS and Sterling, as lender to fund SBA 504 loans
Sterling Receivable and Inventory Facility
Loan and Security Agreement between NBCS and Sterling, as lender to fund accounts receivable and inventory financing arrangements
Taxable Subsidiaries
Companies formed by Newtek which are taxed as corporations for income tax purposes


Table of Contents

Trustee
U.S. Bank, N.A.
U.S. GAAP or GAAP
Generally accepted accounting principles in the United States
 
 
Portfolio Companies and Subsidiaries
 
NSBF
Newtek Small Business Finance, LLC, a consolidated subsidiary
Exponential
Exponential Business Development Co., Inc., a Taxable Subsidiary
UPSW or NMS
Universal Processing Services of Wisconsin, LLC dba Newtek Merchant Solutions, a wholly-owned controlled portfolio company
Premier
Premier Payments LLC, a wholly-owned controlled portfolio company
NTS
Newtek Technology Solutions, Inc., a wholly-owned controlled portfolio company
IPM
International Professional Marketing, Inc., a wholly-owned controlled portfolio company
SIDCO
SIDCO, LLC dba Cloud Nine Services, a wholly-owned controlled portfolio company
EWS
Excel WebSolutions, LLC, a controlled portfolio company
NBCS
CDS Business Services, Inc. dba Newtek Business Credit Solutions, a wholly-owned controlled portfolio company
SBL
Small Business Lending, LLC, a wholly-owned controlled portfolio company
BSP
ADR Partners, LLC dba banc-serv Partners, LLC, a wholly-owned controlled portfolio company
NPS
PMTWorks Payroll, LLC dba Newtek Payroll and Benefits Solutions, a wholly-owned controlled portfolio company
NIA
Newtek Insurance Agency, LLC, a wholly-owned controlled portfolio company
UCS
United Capital Source, LLC, a wholly-owned controlled portfolio company
TAM
Titanium Asset Management LLC, a wholly-owned controlled portfolio company





NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(In Thousands, except for Per Share Data)
 
March 31, 2018
 
December 31, 2017
ASSETS
(Unaudited)
 
(Note 1)
Investments, at fair value
 
 
 
SBA unguaranteed non-affiliate investments (cost of $299,604 and $287,690, respectively; includes $256,656 and $265,174, respectively, related to securitization trusts)
$
290,938

 
$
278,034

SBA guaranteed non-affiliate investments (cost of $19,473 and $22,841, respectively)
21,841

 
25,490

Controlled investments (cost of $63,014 and $59,898, respectively)
157,442

 
153,156

Investments in money market funds (cost of $9 and $9, respectively)
9

 
9

Total investments at fair value
470,230

 
456,689

Cash
2,606

 
2,464

Restricted cash
22,950

 
18,074

Broker receivable
29,833

 
8,539

Due from related parties
2,268

 
2,255

Servicing assets, at fair value
20,404

 
19,359

Other assets
11,608

 
12,231

Total assets
$
559,899

 
$
519,611

 
 
 
 
LIABILITIES AND NET ASSETS
 
 
 
Liabilities:
 
 
 
Bank notes payable
$
30,500

 
$

Notes due 2022 (Note 7)
7,957

 
7,936

Notes due 2021 (Note 7)

 
39,114

Notes due 2023 (Note 7)
55,659

 

Notes payable - Securitization trusts (Note 7)
153,041

 
162,201

Notes payable - related parties
3,675

 
7,001

Due to related parties
37

 

Deferred tax liabilities
8,462

 
8,164

Accounts payable, accrued expenses and other liabilities
21,296

 
16,866

Total liabilities
280,627

 
241,282

 
 
 
 
Commitment and contingencies (Note 8)
 
 
 
Net assets:
 
 
 
Preferred stock (par value $0.02 per share; authorized 1,000 shares, no shares issued and outstanding)

 

Common stock (par value $0.02 per share; authorized 200,000 shares, 18,561 and 18,457 issued and outstanding, respectively)
371

 
369

Additional paid-in capital
247,607

 
247,363

Undistributed net investment income
4,602

 
14,792

Net unrealized appreciation, net of deferred taxes
21,453

 
20,448

Net realized gains/(losses)
5,239

 
(4,643
)
Total net assets
279,272

 
278,329

Total liabilities and net assets
$
559,899

 
$
519,611

Net asset value per common share
$
15.05

 
$
15.08


1
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In Thousands, except for Per Share Data)
 
Three Months Ended March 31, 2018
 
Three Months Ended March 31, 2017
Investment income
 
 
 
From non-affiliate investments:
 
 
 
Interest income
$
5,174

 
$
4,235

Servicing income
2,065

 
1,646

Other income
1,055

 
665

Total investment income from non-affiliate investments
8,294

 
6,546

From controlled investments:
 
 
 
Interest income
149

 
147

Dividend income
2,625

 
2,300

Total investment income from controlled investments
2,774

 
2,447

Total investment income
11,068

 
8,993

Expenses:
 
 
 
Salaries and benefits
4,878

 
4,651

Interest
3,512

 
2,530

Depreciation and amortization
120

 
89

Professional fees
940

 
847

Origination and servicing
1,605

 
1,384

Change in fair value of contingent consideration liabilities
10

 

Loss on extinguishment of debt
1,059

 

Other general and administrative costs
1,717

 
1,586

Total expenses
13,841

 
11,087

Net investment loss
(2,773
)
 
(2,094
)
Net realized and unrealized gains (losses):
 
 
 
Net realized gain on non-affiliate investments
9,881

 
8,685

Net unrealized (depreciation) appreciation on SBA guaranteed non-affiliate investments
(280
)
 
113

Net unrealized appreciation (depreciation) on SBA unguaranteed non-affiliate investments
992

 
(556
)
Net unrealized appreciation on controlled investments
1,170

 
931

Change in deferred taxes
(299
)
 
(566
)
Net unrealized depreciation on servicing assets
(579
)
 
(609
)
Net realized and unrealized gains
$
10,885

 
$
7,998

Net increase in net assets resulting from operations
$
8,112

 
$
5,904

Net increase in net assets resulting from operations per share
$
0.44

 
$
0.36

Net investment loss per share
$
(0.15
)
 
$
(0.13
)
Dividends and distributions declared per common share
$
0.40

 
$
0.36

Weighted average number of shares outstanding
18,495

 
16,383


2
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS (UNAUDITED)
(In Thousands)
 
Three Months Ended March 31, 2018
Increase in net assets:
 
Net investment loss
$
(2,773
)
Net realized gains on investments
9,881

Net change in unrealized depreciation on investments
1,004

Net increase in net assets
8,112

Distributions to common stockholders:
 
Dividends to common stockholders from net investment income
(7,370
)
Total distributions to stockholders
(7,370
)
Capital share transactions:
 
Issuance of common stock under dividend reinvestment plan
168

Stock-based compensation expense
65

Purchase of vested stock for employee payroll tax withholding
(32
)
Net increase in net assets from capital share transactions
201

Total increase in net assets
943

Net assets at beginning of period
278,329

Net assets at end of period (includes $4,602 of undistributed net investment income)
$
279,272

Common shares outstanding at end of period
18,561

Capital share activity:
 
Shares issued under dividend reinvestment plan
10

Purchase of vested stock for employee payroll tax withholding
(2
)
Restricted shares issued under Equity Incentive Plan, net of forfeitures
94

Net increase in capital activity
102


3
See accompanying notes to unaudited condensed consolidated financial statements.





NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In Thousands)
 
Three Months Ended March 31, 2018
 
Three Months Ended March 31, 2017
Cash flows from operating activities:
 
 
 
Net increase in net assets resulting from operations
$
8,112

 
$
5,904

Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:
 
 
 
Net unrealized appreciation on controlled investments
(1,170
)
 
(931
)
Net unrealized (appreciation) depreciation on non-affiliate investments
(712
)
 
443

Net unrealized depreciation on servicing assets
579

 
609

Net realized gains on non-affiliate investments
(9,881
)
 
(8,685
)
Allowance for doubtful accounts
24

 

Change in fair value of contingent consideration liabilities
10

 

Loss on extinguishment of debt
1,059

 

Amortization of deferred financing costs
378

 
412

Deferred income taxes
299

 
566

Depreciation and amortization
120

 
89

Purchase of SBA 7(a) loan portfolio

 
(175
)
Funding of controlled investments
(4,639
)
 
(5,423
)
Funding of guaranteed non-affiliate SBA loans
(69,973
)
 
(60,046
)
Proceeds from sale of non-affiliate SBA loans
83,457

 
68,471

Funding of unguaranteed non-affiliate SBA loans
(21,387
)
 
(18,598
)
Return of investment from controlled investments

 
50

Principal received from controlled investments
1,522

 
1,254

Payments received on SBA non-affiliate investments
8,732

 
9,832

Other, net
370

 
483

Changes in operating assets and liabilities:
 
 
 
Broker receivable
(21,294
)
 
(15,450
)
Due to/from related parties
(1
)
 
(929
)
Other assets
699

 
860

Accounts payable, accrued expenses and other liabilities
4,499

 
1,039

Capitalized servicing asset
(1,624
)
 
(1,459
)
Other, net
3

 
84

Net cash used in operating activities
(20,818
)
 
(21,600
)
Cash flows from investing activities:
 
 
 
Purchase of fixed assets
(83
)
 
(136
)
Cash flows from financing activities:
 
 
 
Net borrowings on bank notes payable
30,500

 
13,200

Proceeds from common shares sold, net of offering costs

 
37,042

Net repayments on related party line of credit
(3,326
)
 
(1,400
)
Proceeds from Notes due 2023
57,500

 

Redemption of Notes due 2021
(40,250
)
 

Payments on Notes Payable - Securitization Trusts
(9,376
)
 
(8,892
)

4
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In Thousands)
 
Three Months Ended March 31, 2018
 
Three Months Ended March 31, 2017
Dividends paid
(7,202
)
 
(6,151
)
Additions to deferred financing costs
(1,893
)
 

Purchase of vested stock for employee payroll tax withholding
(34
)
 

Other, net

 
(1
)
Net cash provided by financing activities
25,919

 
33,798

Net increase in cash and restricted cash
5,018

 
12,062

Cash and restricted cash—beginning of year (Note 2)
$
20,538

 
$
22,896

Cash and restricted cash—end of year (Note 2)
$
25,556

 
$
34,958

 
 
 
 
Non-cash investing and financing activities:
 
 
 
Foreclosed real estate acquired
$
478

 
$
62

Issuance of common shares under dividend reinvestment plan
$
168

 
$
91

            


5
See accompanying notes to unaudited condensed consolidated financial statements.





NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS MARCH 31, 2018 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
Performing SBA Unguaranteed Investments (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Alaska Industrial Paint LLC
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
3/30/2043

 
$
141.8

 
$
141.8

 
$
151.6

 
0.05
%
B&C Texas Leasing Inc and M&W Hot Oil, Inc.
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
3/30/2028

 
980.0

 
980.0

 
928.1

 
0.33
%
GQ Investments,LLC
 
Electrical Equipment, Appliance, and Component Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
3/30/2028

 
210.5

 
210.5

 
187.9

 
0.07
%
Technical Ordnance Solutions, LLC
 
Fabricated Metal Product Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
3/30/2028

 
1,250.0

 
1,250.0

 
1,100.5

 
0.39
%
America's Little Leaders Academy, Inc
 
Social Assistance
 
Term Loan
 
Prime plus 2.75%
 
3/30/2043

 
22.5

 
22.5

 
23.4

 
0.01
%
Master Roofing and Siding Inc.
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
3/30/2028

 
265.0

 
265.0

 
231.6

 
0.08
%
Romancing the Stone
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
3/30/2043

 
362.5

 
362.5

 
365.5

 
0.13
%
Payne's Environmental Services LLC
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
3/30/2028

 
226.6

 
226.6

 
213.1

 
0.08
%
Alaska Industrial Paint LLC
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
3/30/2028

 
124.8

 
124.8

 
122.5

 
0.04
%
Michael S Brown Physical Therapy, P.C
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
3/30/2028

 
98.3

 
98.3

 
85.9

 
0.03
%
Arrow Freight Inc
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
3/30/2028

 
704.7

 
704.7

 
615.8

 
0.22
%
B&C Texas Leasing Inc., M & W Hot Oil, Inc
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
3/30/2043

 
270.0

 
270.0

 
267.8

 
0.10
%
Fifth Wheel Truck Stop 001
 
Gasoline Stations
 
Term Loan
 
Prime plus 2.75%
 
3/30/2043

 
1,145.5

 
1,145.5

 
1,120.5

 
0.40
%
Boulevard Books Inc.
 
Publishing Industries (except Internet)
 
Term Loan
 
Prime plus 2.75%
 
3/30/2043

 
121.3

 
121.3

 
125.2

 
0.04
%
Kaz Wellness, LLC dba Grounded Wellness Center
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
3/29/2028

 
15.9

 
15.9

 
14.5

 
0.01
%
Hot Shot Services, Inc and TFB, Ltd Co
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
3/29/2043

 
400.0

 
400.0

 
427.7

 
0.15
%
Lou & Choo Enterprises Inc.
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
3/28/2043

 
21.5

 
21.5

 
23.0

 
0.01
%
Kenneth Whelchel dba Whelchel Fencing and Construction
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
3/28/2028

 
65.0

 
65.0

 
59.8

 
0.02
%
Cartwright Termite & Pest Control Inc.
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
3/28/2028

 
232.8

 
232.8

 
217.5

 
0.08
%

6
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS MARCH 31, 2018 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
Bebos Inc dba Pizza Hut and Sunoco
 
Gasoline Stations
 
Term Loan
 
Prime plus 2.75%
 
3/28/2028

 
217.5

 
217.5

 
206.3

 
0.07
%
Clancy 15 LLC and Allied Molded Products LLC
 
Plastics and Rubber Products Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
3/28/2043

 
220.0

 
220.0

 
216.9

 
0.08
%
Corning Lumber Company Inc & Frank R Close & Son Inc
 
Building Material and Garden Equipment and Supplies Dealers
 
Term Loan
 
Prime plus 2.75%
 
3/28/2028

 
87.5

 
87.5

 
89.6

 
0.03
%
Montage Mountain Resorts, LP
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
3/28/2043

 
1,250.0

 
1,250.0

 
1,336.6

 
0.48
%
Clancy 15 LLC and Allied Molded Products LLC
 
Plastics and Rubber Products Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
3/28/2028

 
154.6

 
154.6

 
145.5

 
0.05
%
K.C. Communications, Inc.
 
Telecommunications
 
Term Loan
 
Prime plus 2.75%
 
3/27/2028

 
62.5

 
62.5

 
64.0

 
0.02
%
Towing Professionals of Arizona Inc dba Shamrock Towing
 
Support Activities for Transportation
 
Term Loan
 
Prime plus 2.75%
 
3/26/2028

 
150.0

 
150.0

 
136.5

 
0.05
%
Towing Professionals of Arizona Inc dba Shamrock Towing
 
Support Activities for Transportation
 
Term Loan
 
Prime plus 2.75%
 
3/26/2043

 
538.8

 
538.8

 
514.5

 
0.18
%
Cable Management, LLC
 
Waste Management and Remediation Services
 
Term Loan
 
Prime plus 2.75%
 
3/23/2028

 
99.0

 
99.0

 
93.6

 
0.03
%
Aque Investment Group LLC
 
Real Estate
 
Term Loan
 
Prime plus 2.75%
 
3/23/2028

 
265.5

 
265.5

 
270.0

 
0.10
%
Shweiki Media Inc dba Study Breaks Magazine
 
Publishing Industries (except Internet)
 
Term Loan
 
Prime plus 2.75%
 
3/23/2028

 
75.0

 
75.0

 
74.9

 
0.03
%
Denton BioFuels LLC and Amercian BioSource, LLC
 
Waste Management and Remediation Services
 
Term Loan
 
Prime plus 2.75%
 
3/23/2028

 
97.5

 
97.5

 
90.1

 
0.03
%
All Regional Recyclers of Wood LLC dba ARROW
 
Waste Management and Remediation Services
 
Term Loan
 
Prime plus 2.75%
 
3/23/2028

 
131.3

 
131.3

 
124.0

 
0.04
%
Sunshine Tents and Event Rentals LLC
 
Rental and Leasing Services
 
Term Loan
 
Prime plus 2.75%
 
3/23/2028

 
62.5

 
62.5

 
64.0

 
0.02
%
Sofasco, Inc
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
3/23/2043

 
100.0

 
100.0

 
98.1

 
0.04
%
Kajun Martial Arts LLC
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
3/23/2028

 
22.5

 
22.5

 
20.0

 
0.01
%
New York Label & Box Corp
 
Printing and Related Support Activities
 
Term Loan
 
Prime plus 2.75%
 
3/23/2043

 
1,250.0

 
1,250.0

 
1,274.1

 
0.46
%
ME Interiors LLC
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
3/22/2028

 
18.8

 
18.8

 
16.4

 
0.01
%

7
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS MARCH 31, 2018 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
GeoTek Alaska, Inc
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
3/21/2043

 
850.0

 
850.0

 
871.2

 
0.31
%
Rexco Foods LLC dba Papa John's
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
3/20/2028

 
42.5

 
42.5

 
37.1

 
0.01
%
RTSP Union LLC
 
Sporting Goods, Hobby, Musical Instrument, and Book Stores
 
Term Loan
 
Prime plus 2.75%
 
3/20/2028

 
50.0

 
50.0

 
51.2

 
0.02
%
TX Superior Communications, LLC
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
3/19/2028

 
93.3

 
93.3

 
84.9

 
0.03
%
Cest Chic Concepts, LLC dba Salon Cest Chic
 
Personal and Laundry Services
 
Term Loan
 
Prime plus 2.75%
 
3/19/2028

 
11.3

 
11.3

 
10.1

 
%
Petroleum Equipment & Services, Inc
 
Support Activities for Mining
 
Term Loan
 
Prime plus 2.75%
 
3/16/2028

 
250.0

 
250.0

 
252.5

 
0.09
%
Camerabots Media, LLC
 
Motion Picture and Sound Recording Industries
 
Term Loan
 
Prime plus 2.75%
 
3/16/2028

 
15.0

 
15.0

 
13.4

 
%
Car Pro Auto Spa of Stuart, LLC dba Tide Pools Island Gifts
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
3/16/2028

 
22.5

 
22.5

 
23.0

 
0.01
%
Rojenco, Inc. dba Buggy Bathe Auto Wash Lube & Detail Shoppe
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
3/15/2043

 
519.1

 
519.1

 
546.7

 
0.20
%
Bear Bones, Inc.
 
Beverage and Tobacco Product Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
3/15/2043

 
22.5

 
22.5

 
23.5

 
0.01
%
CTD Operations Inc
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
3/15/2028

 
22.8

 
22.8

 
20.8

 
0.01
%
Rojenco II, Inc.
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
3/15/2043

 
402.5

 
402.5

 
423.9

 
0.15
%
Summit Insights Group LLC
 
Securities, Commodity Contracts, and Other Financial Investments and Related Activities
 
Term Loan
 
Prime plus 2.75%
 
3/14/2028

 
95.5

 
95.5

 
83.5

 
0.03
%
Bovill Creative LLC
 
Real Estate
 
Term Loan
 
Prime plus 2.75%
 
3/14/2028

 
53.8

 
53.8

 
55.1

 
0.02
%
SRG Waterfront LLC
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
3/9/2028

 
312.5

 
312.5

 
276.7

 
0.10
%
Dante Ultimate Cleaning Service LLC
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
3/9/2028

 
10.2

 
10.2

 
9.5

 
%
HG Ventures, Inc.
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
3/9/2028

 
133.1

 
133.1

 
116.3

 
0.04
%
2b Mom Inc dba Mom's the Word Maternity
 
Clothing and Clothing Accessories Stores
 
Term Loan
 
Prime plus 2.75%
 
3/9/2028

 
97.5

 
97.5

 
85.3

 
0.03
%

8
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS MARCH 31, 2018 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
Bee Kidz Funzone Inc
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
3/9/2028

 
51.8

 
51.8

 
51.1

 
0.02
%
Integrity Machinery Moving, LLC
 
Support Activities for Transportation
 
Term Loan
 
Prime plus 2.75%
 
3/8/2028

 
22.5

 
22.5

 
23.0

 
0.01
%
Treft Systems Inc
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
3/8/2028

 
15.0

 
15.0

 
13.2

 
%
Play4Fun dba Luv 2 Play
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
3/7/2028

 
52.9

 
52.9

 
53.1

 
0.02
%
Unpainted Arizona, LLC dba Westside Bowl
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
3/7/2043

 
61.5

 
61.5

 
65.8

 
0.02
%
Stepping Stones Childrens Academy
 
Social Assistance
 
Term Loan
 
Prime plus 2.75%
 
3/2/2043

 
253.3

 
253.3

 
264.2

 
0.09
%
Espinoza & Salinas Group Ltd dba Credit 360 Consulting
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
3/2/2028

 
5.0

 
5.0

 
4.5

 
%
BC Bishop Enterprises LLC dba 9Round Pooler
 
Educational Services
 
Term Loan
 
Prime plus 2.75%
 
3/2/2028

 
8.4

 
8.4

 
7.5

 
%
The Law Offices of Samuel R Miller LLC
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
2/28/2043

 
119.0

 
119.0

 
126.7

 
0.05
%
Connie Engelbrecht
 
Nonmetallic Mineral Product Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
2/28/2028

 
3.0

 
3.0

 
2.7

 
%
Urban Fitness Group LLC dba Crunch Fitness Group LLC
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
2/28/2028

 
103.0

 
103.0

 
105.5

 
0.04
%
Merciful Heavenly Homes, LLC
 
Nursing and Residential Care Facilities
 
Term Loan
 
Prime plus 2.75%
 
2/28/2043

 
66.0

 
66.0

 
70.5

 
0.03
%
Carey Collision Repairs Inc.
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
2/27/2028

 
75.0

 
75.0

 
67.2

 
0.02
%
Betty's Catering Corp, Betty's Decoration & Wedding Center Inc.
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
2/26/2043

 
355.0

 
355.0

 
379.6

 
0.14
%
Purely Seed LLC
 
Merchant Wholesalers, Nondurable Goods
 
Term Loan
 
Prime plus 2.75%
 
2/26/2028

 
125.0

 
125.0

 
109.2

 
0.04
%
Carries Cakes and Catering, Inc dba Carrie's Cakes and Confections
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
2/23/2028

 
5.3

 
5.3

 
4.6

 
%
Jackpine Technologies Corporation
 
Publishing Industries (except Internet)
 
Term Loan
 
Prime plus 2.75%
 
2/22/2028

 
80.0

 
80.0

 
76.2

 
0.03
%
Crossfit iQ LLC
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
2/21/2028

 
42.5

 
42.5

 
38.2

 
0.01
%

9
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS MARCH 31, 2018 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
Wellfleet Consulting Inc.
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
2/21/2028

 
15.0

 
15.0

 
13.1

 
%
New View Media Group LLC
 
Publishing Industries (except Internet)
 
Term Loan
 
Prime plus 2.75%
 
2/16/2028

 
82.5

 
82.5

 
84.5

 
0.03
%
Town & Country Transportation Co.
 
Transit and Ground Passenger Transportation
 
Term Loan
 
Prime plus 2.75%
 
2/16/2028

 
66.3

 
66.3

 
67.9

 
0.02
%
Lulinjett LLC dba All American Printing & Design
 
Printing and Related Support Activities
 
Term Loan
 
Prime plus 2.75%
 
2/14/2043

 
106.3

 
106.3

 
113.6

 
0.04
%
Margab Inc dba Smoothie King
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
2/13/2028

 
12.8

 
12.8

 
11.4

 
%
JumboMarkets, Inc.
 
Food and Beverage Stores
 
Term Loan
 
Prime plus 2.75%
 
2/13/2028

 
207.5

 
207.5

 
187.6

 
0.07
%
Start "UP "Dreams, Inc dba SDC Concrete and Start"UP" Dream Construction
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
2/9/2028

 
75.0

 
75.0

 
69.2

 
0.02
%
Tony Herring & Associates, Inc.
 
Furniture and Home Furnishings Stores
 
Term Loan
 
Prime plus 2.75%
 
2/9/2028

 
8.3

 
8.3

 
8.2

 
%
Quality Machine of Iowa, Inc
 
Fabricated Metal Product Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
2/9/2028

 
1,250.0

 
1,250.0

 
1,188.6

 
0.43
%
Apps Inc., Market Share, and Singular Leaseholdings LLC
 
Telecommunications
 
Term Loan
 
Prime plus 2.75%
 
2/8/2028

 
525.0

 
525.0

 
458.8

 
0.16
%
De La Vega LLC dba De La Vega Deland and De La Vega Oviedo
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
2/7/2028

 
49.9

 
49.9

 
46.3

 
0.02
%
Macrotech Integrated Management Solutions dba Extreme Lawn Care
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
2/5/2028

 
12.0

 
12.0

 
12.3

 
%
Midlothian Hardware Inc dba Grills True Value
 
Building Material and Garden Equipment and Supplies Dealers
 
Term Loan
 
Prime plus 2.75%
 
2/2/2028

 
15.0

 
15.0

 
15.1

 
0.01
%
M&R Wong LLC
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
2/1/2028

 
12.0

 
12.0

 
10.5

 
%
Chace Building Supply of CT Inc.
 
Building Material and Garden Equipment and Supplies Dealers
 
Term Loan
 
Prime plus 2.75%
 
1/31/2043

 
300.0

 
300.0

 
320.8

 
0.11
%
Rocco's Landscaping LLC
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
1/31/2043

 
74.9

 
74.9

 
80.1

 
0.03
%
USA General Investment LLC dba Braniff Paint and Body Shop
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
1/31/2028

 
14.9

 
14.9

 
13.4

 
%
WydeBodi, LLC dba Wyde Bodi Auto Tags
 
Support Activities for Transportation
 
Term Loan
 
Prime plus 2.75%
 
1/30/2043

 
47.4

 
47.4

 
48.9

 
0.02
%
New Phaze Packaging Inc
 
Paper Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
1/26/2043

 
958.1

 
958.1

 
1,016.5

 
0.36
%

10
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS MARCH 31, 2018 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
Parati USA Inc
 
Merchant Wholesalers, Nondurable Goods
 
Term Loan
 
Prime plus 2.75%
 
1/25/2028

 
22.4

 
22.4

 
19.5

 
0.01
%
Concrete Services LLC and James Ward
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
1/25/2028

 
99.4

 
99.4

 
91.9

 
0.03
%
Southside BBQ Corp
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
1/25/2028

 
19.4

 
19.4

 
19.8

 
0.01
%
Flair Interiors, Inc dba Giant Don's Flooring America
 
Furniture and Home Furnishings Stores
 
Term Loan
 
Prime plus 2.75%
 
1/24/2028

 
136.7

 
136.7

 
140.0

 
0.05
%
Tier 1 Solutions LLC
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
1/23/2028

 
7.5

 
7.5

 
6.7

 
%
Friend Contractors, LLC
 
Construction of Buildings
 
Term Loan
 
Prime plus 2.75%
 
1/19/2043

 
232.2

 
232.2

 
235.8

 
0.08
%
Weeping Willow Kennels, Inc.
 
Personal and Laundry Services
 
Term Loan
 
Prime plus 2.75%
 
1/19/2028

 
10.4

 
10.4

 
10.6

 
%
Lavish Specs Inc
 
Machinery Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
1/19/2028

 
7.5

 
7.5

 
6.5

 
%
Driven Warehouse/Distribution LLC
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
1/18/2028

 
132.4

 
132.4

 
115.7

 
0.04
%
MedWorxs Inc.
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
1/18/2028

 
78.3

 
78.3

 
68.4

 
0.02
%
Lou & Choo Enterprises Inc dba Lou & Choo Lounge
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
1/18/2043

 
114.9

 
114.9

 
115.8

 
0.04
%
Specialized Dairy Processors LLC and Nathaly Zapata
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
1/16/2028

 
64.6

 
64.6

 
56.5

 
0.02
%
Work of Heart Inc dba Little Nest Portraits
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
1/10/2028

 
5.2

 
5.2

 
4.6

 
%
Human Resource Time Manager LLC
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
1/8/2028

 
15.4

 
15.4

 
15.7

 
0.01
%
Impress Therapeutic Massage LLC
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
1/8/2043

 
62.9

 
62.9

 
65.4

 
0.02
%
Crad Holding LLC dba Neighborhood Laundry of Bloomfield
 
Personal and Laundry Services
 
Term Loan
 
Prime plus 2.75%
 
1/5/2028

 
62.1

 
62.1

 
54.7

 
0.02
%
Sandfree Systems LLC
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
1/5/2028

 
7.5

 
7.5

 
7.6

 
%
Social Link LLC
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
12/29/2027

 
11.1

 
11.1

 
9.7

 
%
Farec, Inc
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
12/29/2042

 
280.5

 
280.5

 
286.6

 
0.10
%

11
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS MARCH 31, 2018 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
Best Choice Meats, Inc
 
Merchant Wholesalers, Nondurable Goods
 
Term Loan
 
Prime plus 2.75%
 
12/29/2027

 
64.3

 
64.3

 
64.5

 
0.02
%
Morrocco Method, Inc
 
Chemical Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
12/27/2042

 
859.3

 
859.3

 
877.6

 
0.31
%
Anglin Cultured Stone Products LLC
 
Construction of Buildings
 
Term Loan
 
Prime plus 2.75%
 
12/27/2042

 
642.1

 
642.1

 
625.3

 
0.22
%
^Advance Case Parts Inc
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
49.0

 
49.0

 
46.6

 
0.02
%
Gorilla Warfare LLC
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
22.3

 
22.3

 
20.2

 
0.01
%
^TrialHawk Litigation Group LLC
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
15.6

 
15.6

 
13.6

 
%
Landmark Ventures USA Inc
 
Securities, Commodity Contracts, and Other Financial Investments and Related Activities
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
61.8

 
61.8

 
53.9

 
0.02
%
^Salida Family Chiropractic-PPLC dba Salida Sport and Spine
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
11.9

 
11.9

 
10.4

 
%
^Lab Partner, LLC and Beechtree Diagnostics, LLP
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
770.1

 
770.1

 
681.0

 
0.24
%
Jacliff Investments Inc
 
Publishing Industries (except Internet)
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
49.4

 
49.4

 
43.1

 
0.02
%
Driven Warehouse/Distribution LLC
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
741.3

 
741.3

 
647.2

 
0.23
%
Bisson Transportation Inc
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
74.1

 
74.1

 
72.0

 
0.03
%
Anderson Farms Inc
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
1,235.6

 
1,235.6

 
1,090.1

 
0.39
%
^Medical Plaza of Boro Park PC
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
61.8

 
61.8

 
53.9

 
0.02
%
Muckamuck Trucks, Inc.
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
13.6

 
13.6

 
12.9

 
%
O'Rourke's Diner, LLC
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
3.7

 
3.7

 
3.6

 
%
^Dudeck Enterprise LLC dba Detail Garage Las Vegas
 
Motor Vehicle and Parts Dealers
 
Term Loan
 
Prime plus 2.75%
 
12/22/2027

 
16.1

 
16.1

 
16.4

 
0.01
%
DHD Enterprise LLC dba Edible Arrangements #1699
 
Miscellaneous Store Retailers
 
Term Loan
 
Prime plus 2.75%
 
12/21/2027

 
13.6

 
13.6

 
12.7

 
%
^Street Magic Enterprise LLC
 
Gasoline Stations
 
Term Loan
 
Prime plus 2.75%
 
12/21/2027

 
86.9

 
86.9

 
83.6

 
0.03
%

12
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS MARCH 31, 2018 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
^Tropical Stone LLC
 
Merchant Wholesalers, Durable Goods
 
Term Loan
 
Prime plus 2.75%
 
12/21/2027

 
185.3

 
185.3

 
189.7

 
0.07
%
Ameco Forest Products LLC
 
Merchant Wholesalers, Durable Goods
 
Term Loan
 
Prime plus 2.75%
 
12/21/2027

 
173.0

 
173.0

 
177.0

 
0.06
%
^CT Auto Spa LLC
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
12/21/2027

 
213.4

 
213.4

 
214.5

 
0.08
%
^Blue Lagoon Resort, LLC dba Hill View Cottages
 
Accommodation
 
Term Loan
 
Prime plus 2.75%
 
12/21/2042

 
188.3

 
188.3

 
201.2

 
0.07
%
^DBMS Consulting, Inc.
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
12/20/2027

 
74.1

 
74.1

 
70.3

 
0.03
%
Best Quality Home Care LLC
 
Nursing and Residential Care Facilities
 
Term Loan
 
Prime plus 2.75%
 
12/19/2027

 
7.9

 
7.9

 
6.9

 
%
^CZAR Industries, Inc.
 
Machinery Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
12/19/2027

 
260.0

 
260.0

 
241.5

 
0.09
%
^Auto Excellance of Fort Myers Inc.
 
Motor Vehicle and Parts Dealers
 
Term Loan
 
Prime plus 2.75%
 
12/19/2042

 
106.0

 
106.0

 
113.3

 
0.04
%
^Dr. Richard R. Rolle, Jr., PLLC dba Rolle Oral & Facial Surgery
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
12/18/2027

 
123.8

 
123.8

 
116.5

 
0.04
%
^JMD Aviation Holdings, LLC
 
Rental and Leasing Services
 
Term Loan
 
Prime plus 2.75%
 
12/15/2027

 
494.2

 
494.2

 
493.5

 
0.18
%
^Peanut Butter & Co., Inc
 
Merchant Wholesalers, Nondurable Goods
 
Term Loan
 
Prime plus 2.75%
 
12/15/2027

 
222.4

 
222.4

 
194.2

 
0.07
%
^Demand Printing Solutions Inc
 
Printing and Related Support Activities
 
Term Loan
 
Prime plus 2.75%
 
12/15/2027

 
17.5

 
17.5