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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 June 30, 2022

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)
 
Maryland46-3755188
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
4800 T Rex Avenue, Suite 120, Boca Raton, Florida
33431
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (212356-9500
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.02 per shareNEWTNasdaq Global Market LLC
5.75% Notes due 2024NEWTLNasdaq Global Market LLC
5.50% Notes due 2026NEWTZNasdaq Global Market LLC

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 every Interactive Data File required to be submitted 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. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.



Large accelerated filerxAccelerated filero
Non-accelerated fileroSmaller reporting companyo
Emerging growth companyo
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 August 5, 2022, there were 24,355,607 shares issued and outstanding of the registrant’s Common Stock, par value $0.02 per share.




TABLE OF CONTENTS
 
 Page
Item 1.
Consolidated Schedules of Investments as of June 30, 2022 (Unaudited) and December 31, 2021
Item 2.
Item 3.
Item 4.
PART II - OTHER INFORMATION
Item 1.
Item 1A.
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
Item 3.
Item 4.
Item 5.
Item 6.


Table of Contents

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 ActInvestment Company Act of 1940, as amended
2016-1 TrustNewtek Small Business Loan Trust, Series 2016-1, terminated in December 2021
2017-1 TrustNewtek Small Business Loan Trust, Series 2017-1
2018-1 TrustNewtek Small Business Loan Trust, Series 2018-1
2019-1 TrustNewtek Small Business Loan Trust, Series 2019-1
2021-1 TrustNewtek Small Business Loan Trust, Series 2021-1
2022 Notes7.50% Notes due 2022, redeemed in August 2019
2023 Notes6.25% Notes due 2023, redeemed in February 2021
2024 Notes5.75% Notes due 2024
2025 6.85% Notes6.85% Notes due 2025, redeemed in May 2022
2025 5.00% Notes5.00% Notes due 2025
2025 NotesCollectively, the 2025 6.85% Notes and the 2025 5.00% Notes
2026 Notes5.50% Notes due 2026
Amended 2019 ATM Distribution AgreementFirst Amendment and Supplement to the Equity Distribution Agreement, dated as of February 28, 2020, by and among the Company and the placement agents
ASCAccounting Standards Codification, as issued by the FASB
ASUAccounting Standards Updates, as issued by the FASB
2017 ATM Equity Distribution AgreementSecond Amended and Restated Equity Distribution Agreement, dated August 31, 2018 by and among the Company and the placement agents
2019 ATM Equity Distribution AgreementEquity Distribution Agreement, dated July 10, 2019 by and among the Company and the placement agents
2020 ATM Equity Distribution AgreementEquity Distribution Agreement, dated June 25, 2020 by and among the Company and the placement agents, as amended on July 20, 2022
BDCBusiness Development Company under the 1940 Act
BoardThe Company's board of directors
Capital OneCapital One Bank, National Association
CodeInternal Revenue Code of 1986, as amended
Deutsche BankDeutsche Bank AG
DRIPThe Company's dividend reinvestment plan
EBITDAEarnings before interest, taxes, depreciation and amortization
Equity Incentive PlanThe Company's 2015 Equity Incentive Plan
Exchange ActSecurities Exchange Act of 1934, as amended
FASBFinancial Accounting Standards Board
LIBORLondon Interbank Offered Rate
NAVNet Asset Value
NBL Capital One FacilityRevolving Credit and Security Agreement between NBL SPV1, LLC, a wholly-owned subsidiary of NBL, and Capital One
NBL Deutsche Bank FacilityRevolving Credit and Security Agreement between NBL SPV2, LLC, a wholly-owned subsidiary of NBL, and Deutsche Bank
NBL One Florida Bank FacilityRevolving Credit and Security Agreement between NBL SPV3, LLC, a wholly-owned subsidiary of NBL, and One Florida Bank
NBNYCNational Bank of New York City
Receivable and Inventory FacilityLoan and Security Agreement between NBC and Webster, as successor by merger to Sterling National Bank, as lender, to fund accounts receivable and inventory financing arrangements.
Related Party RLOCUnsecured revolving line of credit agreement between NMS as lender and Newtek as borrower
PLPPreferred Lender Program, as authorized by the SBA
PPPPaycheck Protection Program



Related Party RLOCUnsecured revolving line of credit agreement between NMS as lender and Newtek as borrower
RICRegulated investment company under the Code
S&PStandard and Poor's
SBAUnited States Small Business Administration
SBLCSmall Business Lending Company
SECU.S. Securities and Exchange Commission
SMBSmall-and-medium sized businesses
Stock Purchase Agreement Stock Purchase Agreement dated August 2, 2021, between the Company, NBNYC and certain NBNYC shareholders to acquire all of the issued and outstanding stock of NBNYC
Taxable SubsidiariesCompanies formed by Newtek which are taxed as corporations for income tax purposes
TrusteeU.S. Bank, National Association
U.S. GAAP or GAAPGenerally accepted accounting principles in the United States
WebsterWebster Bank, N.A.
Portfolio Companies and Subsidiaries
NSBFNewtek Small Business Finance, LLC, a consolidated subsidiary
NBLNewtek Business Lending, LLC, a wholly-owned controlled portfolio company
NCLNewtek Conventional Lending, LLC, a 50% owned portfolio company
ExponentialExponential Business Development Co., Inc., a Taxable Subsidiary
NMSNewtek Merchant Solutions, LLC (formerly Universal Processing Services of Wisconsin LLC), a wholly-owned controlled portfolio company
PremierPremier Payments LLC, a former wholly-owned controlled portfolio company which merged into NMS at December 31, 2018
Mobil MoneyMobil Money, LLC, a wholly-owned controlled portfolio company
NTSNewtek Technology Solutions, Inc., a wholly-owned controlled portfolio company
IPMInternational Professional Marketing, Inc., a former wholly-owned controlled portfolio company which merged into NTS on July 1, 2021
SIDCOSIDCO, LLC dba Cloud Nine Services, a wholly-owned controlled portfolio company
EWSExcel WebSolutions, LLC, a wholly-owned controlled portfolio company
NBCCDS Business Services, Inc. dba Newtek Business Credit Solutions, a wholly-owned controlled portfolio company
SBLSmall Business Lending, LLC, a wholly-owned controlled portfolio company
BSPADR Partners, LLC dba banc-serv Partners, LLC, a former wholly-owned controlled portfolio company
NPS or PMTPMTWorks Payroll, LLC dba Newtek Payroll and Benefits Solutions, a wholly-owned controlled portfolio company
NIANewtek Insurance Agency, LLC, a wholly-owned controlled portfolio company
TAMTitanium Asset Management LLC, a wholly-owned controlled portfolio company
EMCAPEMCAP Loan Holdings, LLC
POSPOS on Cloud, LLC, dba Newtek Payment Systems, a controlled portfolio company
5




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(In Thousands, except for Per Share Data)
June 30, 2022December 31, 2021
ASSETS(Unaudited)
Investments, at fair value
SBA unguaranteed non-affiliate investments (cost of $470,399 and $431,970, respectively; includes $312,677 and $344,266, respectively, related to securitization trusts)$459,981 $424,417 
SBA guaranteed non-affiliate investments (cost of $26,595 and $65,728, respectively)28,192 72,970 
Controlled investments (cost of $165,273 and $157,289, respectively)267,924 260,398 
Non-control investments (cost of $1,000 and $1,000, respectively)1,000 1,000 
Total investments at fair value757,097 758,785 
Cash4,165 2,397 
Restricted cash121,861 184,463 
Broker receivable78,721 44,537 
Due from related parties841 4,395 
Servicing assets, at fair value31,820 28,008 
Right of use assets6,695 7,310 
Other assets25,097 26,666 
Total assets$1,026,297 $1,056,561 
LIABILITIES AND NET ASSETS
Liabilities:
Bank notes payable$127,414 $50,000 
2024 Notes (par: $38,250 and $38,250 as of June 30, 2022 and December 31, 2021, Note 7)37,790 37,679 
2025 6.85% Notes (par: $0 and $15,000 as of June 30, 2022 and December 31, 2021, Note 7)— 14,545 
2025 5.00% Notes (par: $30,000 and $0 as of June 30, 2022 and December 31, 2021, Note 7)29,187 — 
2026 Notes (par: $115,000 and $115,000 as of June 30, 2022 and December 31, 2021, Note 7)112,487 112,128 
Notes payable - Securitization trusts (par: $207,582 and $249,750 as of June 30, 2022 and December 31, 2021, Note 7)204,690 246,250 
Notes payable - related parties200 11,450 
Due to related parties855 1,490 
Lease liabilities8,323 9,056 
Deferred tax liabilities12,793 12,733 
Due to participants83,050 146,225 
Derivative instruments— 183 
Accounts payable, accrued expenses and other liabilities14,976 10,935 
Total liabilities631,765 652,674 
Commitment and contingencies (Note 9)
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, 24,187 and 24,159 issued and outstanding, respectively)480 483 
Additional paid-in capital368,934 367,663 
Accumulated undistributed earnings25,118 35,741 
Total net assets394,532 403,887 
6
See accompanying notes to consolidated financial statements.


Total liabilities and net assets$1,026,297 $1,056,561 
Net asset value per common share$16.31 $16.72 
7
See accompanying notes to 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 June 30,Six Months Ended June 30,
2022202120222021
Investment income
From non-affiliate investments:
Interest income - PPP loans$— $25,512 $— $49,720 
Interest income - SBA 7(a) loans8,032 6,248 15,111 12,197 
Servicing income3,175 2,787 6,356 5,527 
Other income2,368 1,269 3,947 2,383 
Total investment income from non-affiliate investments13,575 35,816 25,414 69,827 
From non-control investments:
Interest income— 124 — 248 
Dividend income21 21 43 47 
Total investment income from non-control investments21 145 43 295 
From controlled investments:
Interest income670 576 1,334 1,109 
Dividend income4,960 51 12,784 51 
Total investment income from controlled investments5,630 627 14,118 1,160 
Total investment income19,226 36,588 39,575 71,282 
Expenses:
Salaries and benefits4,499 5,926 9,608 10,376 
Interest5,828 4,968 10,495 10,040 
Depreciation and amortization60 79 123 164 
Professional fees1,512 859 2,813 2,047 
Origination and loan processing1,882 2,998 4,336 5,969 
Origination and loan processing - related party5,239 4,510 9,268 7,653 
Loss on extinguishment of debt417 — 417 955 
Other general and administrative costs2,043 1,706 3,796 3,341 
Total expenses21,480 21,046 40,856 40,545 
Net investment (loss) income(2,254)15,542 (1,281)30,737 
Net realized and unrealized gains (losses):
Net realized gain on non-affiliate investments - SBA 7(a) loans19,891 11,414 35,186 18,807 
Net realized gain on derivative transactions— — 445 — 
Net unrealized appreciation (depreciation) on SBA guaranteed non-affiliate investments(4,917)(1,983)(5,645)2,410 
Net unrealized appreciation (depreciation) on SBA unguaranteed non-affiliate investments(872)198 (2,862)1,585 
Net unrealized appreciation (depreciation) on controlled investments1,566 (7,920)(458)(5,545)
Change in deferred taxes886 1,356 (57)723 
Net unrealized appreciation (depreciation) on non-control investments— (3)— 524 
Net unrealized depreciation on servicing assets(781)(1,193)(2,340)(1,706)
Net unrealized appreciation (depreciation) on derivative transactions— (37)183 (37)
Net realized and unrealized gains$15,773 $1,832 $24,452 $16,761 
Net increase in net assets resulting from operations$13,519 $17,374 $23,171 $47,498 
Net increase in net assets resulting from operations per share$0.56 $0.77 $0.96 $2.12 
Net investment (loss) income per share$(0.09)$0.69 $(0.05)$1.37 
8
See accompanying notes to consolidated financial statements.


NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Dividends and distributions declared per common share$0.75 $0.70 $1.40 $1.20 
Weighted average number of shares outstanding24,157 22,524 24,156 22,431 
9
See accompanying notes to consolidated financial statements.


NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)
(In Thousands)
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Increase in net assets:
Net investment income (loss)$(2,254)$15,542 $(1,281)$30,737 
Net realized gain on investments19,891 11,414 35,631 18,807 
Net unrealized depreciation on investments(4,118)(9,582)(11,179)(2,046)
Net increase in net assets resulting from operations13,519 17,374 23,171 47,498 
Dividends to common stockholders(18,008)(15,646)(33,593)(26,812)
Capital share transactions:
Issuance of common stock under dividend reinvestment plan373 214 598 354 
Stock-based compensation expense467 480 1,248 1,174 
Purchase of vested stock for employee payroll tax withholding(299)(271)(779)(1,535)
Issuance of common stock, net of offering costs— — — 8,970 
Net increase in net assets from capital share transactions541 423 1,067 8,963 
Total increase (decrease) in net assets(3,948)2,151 (9,355)29,649 
Net assets at beginning of period398,480 366,851 403,887 339,353 
Net assets at end of period$394,532 $369,002 $394,532 $369,002 
Common shares outstanding at end of period24,187 22,530 24,187 22,530 
Capital share activity:
Shares issued under dividend reinvestment plan21 30 12 
Shares issued in connection with sales of common stock— — — 430 
Purchase of vested stock for employee payroll tax withholding(12)(10)(30)(56)
Restricted shares issued under Equity Incentive Plan, net of forfeitures17 28 173 
Net increase (decrease) in capital share activity26 (1)28 559 
10
See accompanying notes to consolidated financial statements.


NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In Thousands)
Six Months Ended June 30,
20222021
Cash flows from operating activities:
Net increase in net assets resulting from operations$23,171 $47,498 
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:
Net unrealized depreciation on controlled investments458 5,545 
Net unrealized depreciation (appreciation) on non-affiliate investments8,507 (4,524)
Net unrealized depreciation on servicing assets2,340 1,706 
Net unrealized (appreciation) depreciation on derivative transactions(183)37 
Net realized gains on non-affiliate investments(29,035)(15,781)
Loss on extinguishment of debt417 955 
Amortization of deferred financing costs1,250 1,200 
Deferred income taxes60 (723)
Depreciation and amortization124 164 
Purchase of guaranteed SBA loans— (7,332)
Funding of guaranteed non-affiliate SBA loans(273,251)(885,602)
Funding of unguaranteed non-affiliate SBA loans(90,653)(35,679)
Funding of controlled investments(19,750)(20,395)
Proceeds from sale of non-affiliate SBA loans345,510 887,828 
Principal received on SBA non-affiliate investments47,459 34,971 
Principal received from controlled investments2,025 — 
Principal received from non-control investments— 32 
Return of investment from controlled investments9,741 15,000 
Other, net1,523 1,451 
Changes in operating assets and liabilities:
Broker receivable(34,184)17,628 
Due to/from related parties2,919 (625)
Other assets1,767 908 
Due to participants(63,175)78,042 
Accounts payable, accrued expenses and other liabilities3,923 3,005 
Capitalized servicing asset(6,152)(3,025)
Other, net25 
Net cash (used in) provided by operating activities(65,181)122,309 
Cash flows from investing activities:
Purchase of fixed assets(11)— 
Cash flows from financing activities:
Net borrowings (repayments) on bank notes payable77,414 (41,339)
Proceeds from common shares sold, net of offering costs— 8,969 
Net repayments under related party line of credit(11,250)(14,540)
Proceeds from 2024 Notes— 15,000 
Proceeds from 2025 6.85% Notes— 10,000 
Proceeds from 2025 5.00% Notes30,000 — 
Proceeds from 2026 Notes— 115,000 
Redemption of 2023 Notes— (57,500)
Redemption of 2025 6.85% Notes(15,000)— 
Payments on Notes Payable - Securitization Trusts(42,168)(28,769)
11
See accompanying notes to consolidated financial statements.


NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In Thousands)
Six Months Ended June 30,
20222021
Dividends paid(32,995)(26,458)
Additions to deferred financing costs(864)(3,999)
Purchase of vested stock for employee payroll tax withholding(779)(1,535)
Net cash provided by (used in) financing activities4,358 (25,171)
Net (decrease) increase in cash and restricted cash(60,834)97,138 
Cash and restricted cash—beginning of period (Note 2)186,860 51,425 
Cash and restricted cash—end of period (Note 2)$126,026 $148,563 
Non-cash operating, investing and financing activities:
Foreclosed real estate acquired$676 $710 
Dividends declared but not paid during the period$2,003 $— 
Issuance of common shares under dividend reinvestment plan$598 $354 
            


12
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Nerds Xpress, LLC and Barlow Executive Properties(#)25240 Lasher Rd,, Southfield, MI 48033Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/2047$310.0 $310.0 $325.3 0.08 %
Paris Woodhull(#)112 S Gay St, Knoxville, TN 37902Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%6/30/203220.0 20.0 20.3 0.01 %
Storm-Tek, INC(#)100 Glenborough Dr, Houston, TX 77060Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%6/30/2032125.0 125.0 116.3 0.03 %
Westside Quick Services LLC(#)9018 Cambridge Ave N, Minneapolis, MN 55443Administrative and Support ServicesTerm LoanPrime plus 6.5%6/30/203225.0 25.0 25.4 0.01 %
Performance Paint INC and Snyder Holding LLC(#)431 E Main St, Brownsburg, IN 46112Repair and MaintenanceTerm LoanPrime plus 2.75%6/30/2047101.0 101.0 114.0 0.03 %
Priam Vineyards LLC; Winiarski Family Properties LLC(#)11 Shailor Hill Rd, Colchester, CT 06415Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%6/30/2047742.5 742.5 773.7 0.20 %
Zeigler Concrete Reinforcing, Inc(#)2334 Babbitt Ave, Orlando, FL 32833Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/30/2032106.3 106.3 94.1 0.02 %
2XP VENTURES LLC(#)4670 Azalea Dr, Naples, FL 34119Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/30/203222.5 22.5 22.9 0.01 %
Art of Touch Therapeutic Massage and Healing Clinic Audra Erickson LLC(#)4415 NE Sandy Blvd, Portland, OR 97213Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/30/20329.0 9.0 9.1 — %
Omega Express Home Loans Corporation(#)6016 Belfast Way, Roseville, CA 95747Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%6/30/203217.3 17.3 15.2 — %
Orthologo Inc.(#)911 N MacArthur Blvd, Irving, TX 75061Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/30/2032162.5 162.5 169.7 0.04 %
Scenic Vans LLC dba Scenic Vanlife Rentals(#)3250 Granite Creek Pl, Newcastle, CA 95658Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/30/203270.0 70.0 74.1 0.02 %
J. F. Medeiros Construction Inc(#)20471 3rd St, Hilmar, CA 95324Construction of BuildingsTerm LoanPrime plus 2.75%6/30/203262.8 62.8 55.2 0.01 %
Nerds Xpress, LLC and Barlow Executive Properties(#)25240 Lasher Rd, Southfield, MI 48033Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/2032165.0 165.0 145.2 0.04 %
Industrial Control Concepts Inc;ICC Northwest Inc & 301 Memorial LLC(#)301 Memorial Dr, St. Louis, MO 63102Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/20471,250.0 1,250.0 1,283.4 0.33 %
Learn Smart Pre School Inc(#)145 Mortimer Ave, Rutherford, NJ 07070Social AssistanceTerm LoanPrime plus 2.75%6/30/2047225.0 225.0 248.2 0.06 %
VELEZ ENTERPRISES, LLC(#)5602 Heritage Oak Dr, Portola Hills, CA 92679Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/2032334.3 334.3 294.1 0.07 %
The Blonde Bistro LLC and Ciara June Semack(#)2042 Axemann Rd, Bellefonte, PA 16823Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/29/2047141.3 141.3 157.5 0.04 %
AA LLC(#)5761 W 73rd St, Indianapolis, IN 46278Administrative and Support ServicesTerm LoanPrime plus 2.75%6/29/2032427.5 427.5 384.5 0.10 %
Gyer Medical Billing LLC(#)26210 Christen Canyon Ln, Richmond, TX 77406Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/29/203220.0 20.0 20.3 0.01 %
Car Venient Auto LLC(#)2035 Ashby Rd, St. Louis, MO 63114Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/29/204755.6 55.6 62.4 0.02 %
13
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Nano Pharmaceutical Laboratories, LLC(#)700 W. Mississippi Ave, Denver, CO 80223Chemical ManufacturingTerm LoanPrime plus 2.75%6/29/2032750.0 750.0 688.5 0.17 %
JAG Medical Services(#)105 S Cedar St, Summerville, SC 29483Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/29/203215.0 15.0 13.5 — %
SHY Beauty Inc(#)5458 N Ashland Ave, Chicago, IL 60640Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/29/203222.5 22.5 22.9 0.01 %
Viking Athletics LLC(#)635 New Park Ave, West Hartford, CT 06110Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 6.5%6/29/203225.0 25.0 25.4 0.01 %
Stephen Key(#)9140 Stonegarden Dr, Lorton, VA 22079Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/28/203214.1 14.1 12.4 — %
Knowledge Analytics Inc(#)11716 Woodthrush Ln, Potomac, MD 20854Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/28/2032175.0 175.0 154.0 0.04 %
BOBWHITE COUNTER LLC(#)150 Warren St, Jersey City, NJ 07302Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2032150.0 150.0 133.1 0.03 %
Tres Marine Corp and Mark Compeaux(#)142 Evangeline Dr, Houma, LA 70360Support Activities for MiningTerm LoanPrime plus 2.75%6/28/2032900.0 900.0 840.1 0.21 %
TRI-COUNTY SWEEPING SERVICES, INC(#)4900 SW 51st St, Davie, FL 33314Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2032175.0 175.0 154.0 0.04 %
T Z Trading Inc(#)25511 Budde Rd Ste 1503, The Woodlands, TX 77380Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%6/28/2032212.5 212.5 214.1 0.05 %
Digimatics Inc(#)4011 Vermaas Ave, Toledo, OH 43612Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/28/203252.5 52.5 54.6 0.01 %
Skladco LLC(#)25 Wareham St, Middleborough, MA 02346Nonstore Retailers Term LoanPrime plus 2.75%6/28/203216.5 16.5 14.5 — %
T.S.W RESIDENTIAL & COMMERCIAL SERVICES, INC(#)787 Commerce Dr, Venice, FL 34292Construction of BuildingsTerm LoanPrime plus 2.75%6/28/2032175.0 175.0 154.0 0.04 %
JT Way LLC ;Genthree LLC ;Case Restaurant Group &Sonshine Group(#)330 Greater Butler Mart, Butler, PA 16001Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/2032200.0 200.0 176.7 0.04 %
Fara Bender DMD PA(#)6169 Jog Rd Unit B-5, Lake Worth, FL 33467Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/27/203264.9 64.9 60.8 0.02 %
Jump Jump LLC(#)12600 Appaloosa Chase Dr, Austin, TX 78732Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/27/2047194.5 194.5 212.4 0.05 %
SAM'S PLACE LOTTERY & TOBACCO, INC(#)189 Manheim Rd, Schuylkill Haven, PA 17972Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/27/2032250.0 250.0 219.6 0.06 %
Torchmark Enterprises Inc dba Mwah Flowers(#)1086 Broadway , Brooklyn, NY 11221Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/27/2032105.8 105.8 92.9 0.02 %
Solshine Yoga LLC(#)96 College Heights Blvd, Clemson, SC 29631Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/27/203212.3 12.3 13.0 — %
Recovery Pathways LLC(#)863 N Pine Rd Ste A, Essexville, MI 48732Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/27/2032138.8 138.8 121.9 0.03 %
ESD Homes LLC(#)196 14th St NW, Atlanta, GA 30318Construction of BuildingsTerm LoanPrime plus 2.75%6/27/203275.0 75.0 65.9 0.02 %
Golden Phoenix Construction Company, Inc(#)37 N Altadenda Dr, Pasadena, CA 91107Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/27/2032462.5 462.5 434.0 0.11 %
14
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

ACME Saw and Supply and Lodgepole, INC(#)1204 E Main St, Stockton, CA 95205Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/27/2032536.5 536.5 479.9 0.12 %
Suha Restaurants LLC(#)8211 Byron Center Ave SW, Byron Center, MI 49315Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/24/203218.8 18.8 19.8 0.01 %
AVVA MINA INC dba Doctor's Choice Pharmacy(#)639 N 13th Ave, Upland, CA 91786Health and Personal Care Stores Term LoanPrime plus 2.75%6/24/2032125.0 125.0 109.8 0.03 %
JDT Pickup and Delivery Service LLC(#)2870 Gonzaga Ave, Richmond, CA 94806Couriers and MessengersTerm LoanPrime plus 6.5%6/24/203225.0 25.0 25.3 0.01 %
Jadar Entertainment LLC(#)468 N Camden Dr, Beverly Hills, CA 90210Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%6/24/203287.5 87.5 76.9 0.02 %
Northern Builders LLC(#)30 Porter St, Littleton, NH 03561Construction of BuildingsTerm LoanPrime plus 2.75%6/24/2032450.0 450.0 415.5 0.11 %
Don Green Electric LLC(#)Don Green Electric LLC, Stuart, FL 34994Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/24/203282.8 82.8 72.7 0.02 %
Digital Dream Labs, Inc(#)6022 Broad St, Pittsburgh, PA 15206Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/24/2032875.0 875.0 785.9 0.20 %
The Concrete Company, LLC and Cabriales Holding LLC(#)10940 S Parker Rd, Parker, CO 80134Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%6/24/2047347.5 347.5 335.6 0.09 %
Creamalicious Inc(#)6953 Tarragon Ct, Liberty Township, OH 45011Food ManufacturingTerm LoanPrime plus 2.75%6/23/203288.8 88.8 77.9 0.02 %
Perfect Day NY LLC(#)384 Knickerbocker Ave, Brooklyn, NY 11237Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 6.5%6/23/203224.1 24.1 24.3 0.01 %
ABC Intercargo LLC(#)2700 Glades Cir, Weston, FL 33327Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/23/2032103.8 103.8 91.6 0.02 %
TRUYOU RENEW LLC(#)38221 Plymouth Rd, Livonia, MI 48150Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/23/203245.0 45.0 42.4 0.01 %
JNH Consulting Services, LLC and AllTax Associates, LLC(#)2107 Sherry St, Arlington, TX 76010Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/23/2032117.5 117.5 103.2 0.03 %
CT Mets Baseball Academy LLC(#)216 Foxon Rd, North Branford, CT 06471Educational ServicesTerm LoanPrime plus 2.75%6/23/203258.5 58.5 51.6 0.01 %
Penny Almond, LPC, LLC(#)1401 Malvern Ave Ste 260, Hot Springs, AR 71901Social AssistanceTerm LoanPrime plus 6.5%6/23/203225.0 25.0 25.3 0.01 %
Chicago Knife Works Inc(#)6427 Dempster St, Morton Grove, IL 60053Nonstore Retailers Term LoanPrime plus 2.75%6/23/203275.0 75.0 65.9 0.02 %
Ebony T Grimes dba Grimes Day Care(#)5231 Oxford Ave, Philadelphia, PA 19124Social AssistanceTerm LoanPrime plus 6.5%6/23/203212.5 12.5 12.7 — %
Adelko Inc(#)9937 Shirley Ave, Northridge, CA 91324Real EstateTerm LoanPrime plus 2.75%6/23/203252.5 52.5 46.1 0.01 %
Tocino Strategies LLC(#)7133 E Plata Ave, Mesa, AZ 85212Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/23/203225.0 25.0 25.3 0.01 %
The Hills Tandem LLC(#)132 Palmer Pointe Way, Holly Springs, NC 27540Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/22/203260.0 60.0 53.0 0.01 %
15
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Nerac, Inc(#)1 Technology Dr aka 303 Merrow Rd, Tolland, CT 06084Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/22/2047492.5 492.5 556.0 0.14 %
Diabs, LLC(#)2395 San Siro St, Henderson, NV 89044Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%6/22/20329.2 9.2 8.1 — %
Talley Brothers, Inc(#)210 Executive Dr, Newark, DE 19702Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/22/203287.5 87.5 76.9 0.02 %
Power Move Ventures LLC(#)3700 S Conway Rd, Orlando, FL 32812Nonstore Retailers Term LoanPrime plus 2.75%6/22/203222.5 22.5 19.8 0.01 %
Orbilibrium Corporation and Mathew Wanyama(#)102 Pawnee Dr, Montgomery, TX 77316Real EstateTerm LoanPrime plus 2.75%6/22/204722.5 22.5 25.4 0.01 %
On Point Med Spa & Wellness Center LLC(#)799 Christmas Ave, Bethlehem, GA 30620Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/22/203286.3 86.3 77.5 0.02 %
MJ Enterprise Holdings Inc(#)2600 Cabover Dr, Hanover, MD 21076Repair and MaintenanceTerm LoanPrime plus 2.75%6/22/203221.4 21.4 19.0 — %
Conliff Solutions LLC(#)23664 Jayadev Ter, Brambleton, VA 20148Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/22/203215.0 15.0 13.2 — %
MedAir Labs, LLC(#)10500 Antenucci Blvd, Garfield Heights, OH 44125Machinery ManufacturingTerm LoanPrime plus 2.75%6/22/2032375.0 375.0 396.3 0.10 %
Ageless Simplicity LLC(#)21800 Towncenter Plz 239, Sterling, VA 20164Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/22/203222.5 22.5 21.0 0.01 %
Truth Excavation LLC(#)164 Wahikuli Rd, Lahaina, HI 96761Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/22/203287.5 87.5 92.5 0.02 %
Empire Countertops LLC(#)1137 Enterprise Dr, Pilot Point, TX 76258Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%6/21/2032275.0 275.0 290.6 0.07 %
Prancing Paws Grooming Salon LLC(#)120 N Main St, Germantown, OH 45327Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/21/204717.6 17.6 19.0 — %
Empire Countertops LLC(#)1137 enterprise Dr, Pilot Point, TX 76258Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%6/21/2032850.0 850.0 799.8 0.20 %
Maria Pena(#)537 Swallow Ln, Lodi, CA 95240Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/203217.3 17.3 17.8 — %
Shawn Soiland(#)10 Ascot Dr, Santa Rosa, CA 95403Repair and MaintenanceTerm LoanPrime plus 2.75%6/20/203287.5 87.5 81.3 0.02 %
Jason Howard(#)5459 Sherman Ave SE, Huron, SD 57350Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/20/203218.9 18.9 16.6 — %
Teleflex Group Inc dba TL Cargo(#)8520 nw 66 St, Miami, FL 33166Support Activities for TransportationTerm LoanPrime plus 2.75%6/17/203242.5 42.5 38.3 0.01 %
YDK Enterprise LLC(#)115 Mowbray Dr, Kew Gardens, NY 11415Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/17/203225.0 25.0 25.3 0.01 %
Carlos Eduardo Cuesta(#)2304 Silver Palm Dr, Kissimmee, FL 34747Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/17/203219.8 19.8 17.4 — %
H & M Associates LLC(#)108 Harlow St, Pittsburgh, PA 15218Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%6/17/203222.5 22.5 19.8 0.01 %
Mendoza Trucking and Logistics INC(#)2320 Greenbriar Dr, Chula Vista, CA 91915Truck TransportationTerm LoanPrime plus 2.75%6/17/203222.5 22.5 19.8 0.01 %
16
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Mistry's Custom Solutions LLC dba American Body Works(#)420 S Mill St., Lewisville, TX 75057Repair and MaintenanceTerm LoanPrime plus 2.75%6/17/203287.5 87.5 76.9 0.02 %
HYGCO(#)2000 Anchor Ct, Thousand Oaks, CA 91320Chemical ManufacturingTerm LoanPrime plus 2.75%6/17/2032187.5 187.5 182.4 0.05 %
Foundation Business Enterprises, LLC(#)744 Noah Dr, Jasper, GA 30143Construction of BuildingsTerm LoanPrime plus 2.75%6/17/2032131.3 131.3 115.3 0.03 %
STAFFINGPOINT LLC(#)3371 Baywood Terrace, Fremont, CA 94536Administrative and Support ServicesTerm LoanPrime plus 2.75%6/17/203215.0 15.0 13.2 — %
Biocanic, Inc(#)4976 Foothill Blvd, San Diego, CA 92109Publishing Industries (except Internet)Term LoanPrime plus 2.75%6/17/203262.5 62.5 54.9 0.01 %
Muse Enterprises Inc(#)498 County Rd 4711, Kempner, TX 76539Construction of BuildingsTerm LoanPrime plus 2.75%6/17/203251.3 51.3 49.1 0.01 %
Finch Clinic, P.L.L.C. dba Axcel Treatment and Recovery(#)1105 Memorial Dr,, Denison, TX 75020Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/17/203273.1 73.1 69.2 0.02 %
SM Car Sales Inc(#)2340 Royal Ln,, Dallas, TX 75229Motor Vehicle and Parts Dealers Term LoanPrime plus 6.5%6/16/203225.0 25.0 25.3 0.01 %
Erin Cervantes dba Security Carpet Cleaners(#)P O Box 28215, San Antonio, TX 78228Administrative and Support ServicesTerm LoanPrime plus 2.75%6/16/203211.1 11.1 9.9 — %
Edgar Almanzar Insurance Agency Inc.(#)477 central Ave, White Plains, NY 10606Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%6/16/203222.5 22.5 19.8 0.01 %
KT Supply LLC(#)39 Graphic Place, Moonachie, NJ 07024Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/16/203287.5 87.5 76.9 0.02 %
Soapbox Studio, LLC and The Vault Recording Lounge, LLC(#)4031 Fambrough Dr, Powder Springs, GA 30127Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%6/16/20325.3 5.3 5.5 — %
Gentle Partners in Hospice LLC(#)1635 NE Interstate 410 Loop Ste 501, San Antonio, TX 78209Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/16/203268.8 68.8 60.4 0.02 %
Premier Healthcare Service(#)1015 Eden Way North, Chesapeake, VA 23320Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%10/16/204790.7 90.7 102.4 0.03 %
Daedalus Works LLC(#)17 RD 3500, Flora Vista, NM 87415Machinery ManufacturingTerm LoanPrime plus 2.75%6/15/203247.5 47.5 46.4 0.01 %
KLZS Electric LLC dba Mr Electric of Middleton(#)285 E Deer Trail Rd, Clayton, DE 19938Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/15/203212.0 12.0 10.5 — %
Rupisan Companies, LLC(#)30 N Gould St, Sheridan, WY 82801General Merchandise Stores Term LoanPrime plus 2.75%6/14/203222.5 22.5 19.8 0.01 %
Jand J Darling Ventures dba Clean Air Lawn Care Austin NW(#)5404 Pendleton LN, Austin, TX 78723Administrative and Support ServicesTerm LoanPrime plus 6.5%6/14/203210.0 10.0 10.1 — %
Signature Nail Salon Inc.(#)11505 NE Fourth Plain Blvd, Ste F3, Vancouver, WA 98662Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/14/203215.0 15.0 15.2 — %
Spend Less Store LLC(#)516 E Juanita Ave, Ste 3, Mesa, AZ 85204Food and Beverage Stores Term LoanPrime plus 6.5%6/14/203225.0 25.0 25.3 0.01 %
Innovative Concepts Construction LLC(#)2196 Fenton Pkwy,, San Diego,, CA 92108Construction of BuildingsTerm LoanPrime plus 2.75%6/14/203211.3 11.3 9.9 — %
17
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Coast 2 Coast Consulting, LLC(#)5630 S Garth Ave, Los Angeles, CA 90056Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/13/203222.5 22.5 19.8 0.01 %
Sebastian Castelli, PA(#)12187 Beach Blvd, Jacksonville, FL 32246Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/10/203275.0 75.0 66.4 0.02 %
J LaMendola Physical Therapy PC(#)1100 Clove Rd Ste G-C, Staten Island, NY 10301Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/10/2047151.0 151.0 166.0 0.04 %
Nepal Dog Treat LLC(#)11775 Stratford House Pl #303,, Reston, VA 20190Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/10/2032250.0 250.0 219.6 0.06 %
Spartan Bikes, LLC(#)2974 N Alma School Rd, Chandler, AZ 85224Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%6/10/203222.5 22.5 19.8 0.01 %
Code 3 Security LLC(#)6401 Eldorado Pkwy, McKinney, TX 75070Administrative and Support ServicesTerm LoanPrime plus 2.75%6/10/203222.5 22.5 19.8 0.01 %
American Plumbing Solutions Inc(#)34 11th Ave, Farmingdale, NY 11735Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/10/203222.5 22.5 19.8 0.01 %
ALLIANCE DIGITAL PROPERTIES INC(#)1407 Foothill Blvd 305, La Verne, CA 91750Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/10/203222.5 22.5 19.8 0.01 %
Ridge Renovation and Construction LLC(#)1736 E Greenway St, Mesa, AZ 85203Construction of BuildingsTerm LoanPrime plus 2.75%6/10/203257.5 57.5 51.8 0.01 %
Triple Bs Inc(#)12189 Livingston Rd, Manassas, VA 20109Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/10/203287.5 87.5 77.4 0.02 %
Ballard Construction LLC(#)440 Timothy St, Junction City, OR 97448Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/9/203287.5 87.5 92.5 0.02 %
3Dio, LLC(#)5900 NE 152nd Ave, Vancouver, WA 98682Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/9/2032100.0 100.0 87.8 0.02 %
Machfu Inc(#)9200 Corporate Blvd, Rockville, MD 20850Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/9/203287.5 87.5 76.9 0.02 %
TKSPizza LLC(#)505 Hansen Ave, Butler, PA 16001Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/9/203222.5 22.5 23.7 0.01 %
Lighting Management Inc(#)618 Corporate Way, Valley Cottage, NY 10989Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/9/2032375.0 375.0 329.4 0.08 %
Folcon LLC(#)516 West Walnut St, Kalamazoo, MI 49007Real EstateTerm LoanPrime plus 2.75%6/9/204742.3 42.3 46.0 0.01 %
GEMsmash LLC(#)2025 Belford Dr, Walnut Creek, CA 94598Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/9/203287.5 87.5 81.6 0.02 %
EDIA World LLC(#)3345 SW 67th Ave, Miami, FL 33155Nonstore Retailers Term LoanPrime plus 6.5%6/9/203225.0 25.0 25.3 0.01 %
ALL OFF GRID, LLC(#)10927 Big Lake Rd, Wasilla, AK 99694Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/8/203222.5 22.5 21.6 0.01 %
Hurricane Beauty LLC(#)1110 Vandon Loop, Berlin, NJ 08009Nonstore Retailers Term LoanPrime plus 2.75%6/8/203215.0 15.0 13.2 — %
Stella del Mare, LLC(#)2804 NE 8th St, Homestead, FL 33033Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/8/203212.8 12.8 11.2 — %
Iron Valley Insurance Services Inc(#)2366 Navigation Circle, Placentia, CA 92870Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%6/8/203211.3 11.3 9.9 — %
18
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

CarrThom Development, LLC(#)52 T St NW, Washington, DC 20001Construction of BuildingsTerm LoanPrime plus 2.75%6/8/2032107.5 107.5 94.4 0.02 %
MFT Solutions LLC(#)110 E 43rd St, Boise, ID 83714Repair and MaintenanceTerm LoanPrime plus 6.5%6/8/203215.0 15.0 15.2 — %
Black Martin Brands LLC(#)9N915 Heatherington Place, Elgin, IL 60124Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/8/203222.5 22.5 19.8 0.01 %
PERU Q PRODUCTS LLC(#)21772 Ladyslipper Square, Ashburn, VA 20147Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%6/8/203218.8 18.8 16.5 — %
BARSE & CO INC(#)8701 John W. Carpenter Fwy, Dallas, TX 75247Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/7/203215.0 15.0 13.2 — %
Reliant Medical Group LLC(#)3935 W Reno Ave, Las Vegas, NV 89118Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/7/203287.5 87.5 84.0 0.02 %
ANK Mexican Grill Inc(#)74 Roosevelt St, Pequannock Township, NJ 07440Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/7/2032343.1 343.1 301.4 0.08 %
ANK Waterfront Real estate Inc and ANK Waterfront Inc(#)74 Roosevelt St, Pequannock Township, NJ 07440Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/7/2047489.4 489.4 507.3 0.13 %
FOOTHILL FEED AND MERCANTILE LLC(#)1330 GEIGER GRADE Rd, RENO, NV 89521Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 6.5%6/7/203219.5 19.5 19.7 0.01 %
SMART LOGISTICS LLC(#)600 Getty Ave, Clifton, NJ 07011Truck TransportationTerm LoanPrime plus 2.75%6/7/203222.5 22.5 19.8 0.01 %
C.I.I. INC(#)6001 S Decatur Blvd.,, Las Vegas, NV 89118Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%6/7/2032373.3 373.3 328.0 0.08 %
AB Liquor LLC(#)16900 Chenal Pkwy, Little Rock, AR 72223Food and Beverage Stores Term LoanPrime plus 2.75%6/7/203287.5 87.5 92.5 0.02 %
J Michelle's LLC(#)620 Windham St, Petersburg, VA 23803Food Services and Drinking PlacesTerm LoanPrime plus 6.5%6/7/20325.9 5.9 6.0 — %
Bellasky LLC DBA Happy Day(#)26279 CO-74, Kittredge, CO 80457Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/6/204776.3 76.3 86.1 0.02 %
T&F Express Services, LLC(#)16420 SE McGillivary, Vancouver, WA 98663Administrative and Support ServicesTerm LoanPrime plus 2.75%6/6/203215.0 15.0 13.2 — %
CWM Professional Consulting Inc(#)19490 SW 24th St, Miramar, FL 33029Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/3/203222.5 22.5 19.8 0.01 %
Gun Guardian, LLC(#)1136 Brick Rd, Winter Garden, FL 34787Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%8/3/203227.5 27.5 27.3 0.01 %
Que Duong LLC(#)6 W. 126th St, Apt 5F, New York, NY 10027Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/3/203217.5 17.5 17.7 — %
C.A.L.M. Home, LLC(#)757 West Magma Rd, San Tan Valley, AZ 85143Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/3/203274.8 74.8 65.7 0.02 %
805 Transportation LLC(#)132 Easy St, Buellton, CA 93427Transit and Ground Passenger TransportationTerm LoanPrime plus 6.5%6/3/203225.0 25.0 25.3 0.01 %
Spine and Orthopedic Center of New Mexico PC(#)400 N Pennsylvania Ave, Roswell, NM 88201Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/3/203275.0 75.0 65.9 0.02 %
KRAMER LLC dba Kramer Injury Law LLC(#)161 N Clark St, Chicago, IL 60601Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/3/203215.8 15.8 13.8 — %
19
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Longo Acquisitions LLC dba Hello Garage of Stony Brook(#)176 10th Ave, Holtsville, NY 11743Construction of BuildingsTerm LoanPrime plus 2.75%6/2/20329.2 9.2 8.2 — %
Jules Enterprise Group, Inc dba Anuco Rx(#)549 Sawgrass Corporate Pkwy, Sunrise, FL 33323Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/2/203287.5 87.5 76.9 0.02 %
ADW Communications Services, Inc.(#)425 S McClintock Dr Ste 1,, Tempe, AZ 95281Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%6/1/2032189.5 189.5 166.5 0.04 %
Farmer Investments LLC dba Fetch! Pet Care(#)3840 Charbon Ln, Bartlett, TN 38133Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/1/203213.2 13.2 11.6 — %
MS Garage Plano, LLC(#)1504 SW 57th Terrace, Cape Coral, FL 33914Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/31/203277.5 77.5 80.5 0.02 %
LUBECON USA, LLC(#)201 N Webster St, White Cloud, MI 49349Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%5/31/2032405.0 405.0 420.1 0.11 %
Modir Transportation LLC(#)3225 Church St, Scottdale, GA 30079Truck TransportationTerm LoanPrime plus 2.75%5/31/20321,040.0 1,040.0 1,019.9 0.26 %
Skyship Services Inc.(#)161 T Com Dr, Elizabeth City, NC 27909Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%5/31/2032312.5 312.5 325.3 0.08 %
Global One Media, Inc(#)1750 Manzanita Dr, Elko, NV 89801Broadcasting (except Internet)Term LoanPrime plus 2.75%5/31/2032306.0 306.0 274.0 0.07 %
Zhenya, Inc. dba Scale Your Genius(#)90 Pearl St., Denver, CO 80203Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/31/203220.5 20.5 20.8 0.01 %
Duncan Electrical LLC(#)8445 S Van Ness Ave, Inglewood, CA 90305Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/31/203242.5 42.5 37.3 0.01 %
Water Damage Rescue Inc.;123 W Orange St LLC;Service Magic Restoration(#)7232 Owensmouth Ave, Canoga Oark, CA 91303Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/31/2032625.0 625.0 562.7 0.14 %
Smashachusetts, LLC(#)303 Third St, Cambridge, MA 02142Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/31/203287.5 87.5 81.6 0.02 %
PoleSet Equipment, LLC(#)5355 Prosperity Pike, Prosperity, PA 15329Machinery ManufacturingTerm LoanPrime plus 2.75%5/31/2032750.0 750.0 792.5 0.20 %
Big Brand Management Inc. and Big Brand Management Ltd. Co.(#)512 E 11th St, Houston, TX 77008Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%5/31/2032332.8 332.8 313.6 0.08 %
TMC General Construction Inc.(#)3457 Fitzgerald Dr, Rancho Cordova, CA 95742Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/31/20321,250.0 1,250.0 1,099.5 0.28 %
Domi Health, LLC and B's Homecare Inc.(#)5500 Nicollet Ave, Minneapolis, MN 55419Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/31/2032358.9 358.9 315.2 0.08 %
FRAMEWORXFL, INC(#)139 S Pebble Beach Blvd., Sun City Center, FL 33573Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/31/203262.5 62.5 54.9 0.01 %
REAL HOUSE INC and BFM Holdings 176 Harding LLC(#)95 Grove St, Montclair, NJ 07042Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%5/31/20471,076.0 1,076.0 1,214.8 0.31 %
IDEAL FURNITURE RENTAL & SALES INC(#)84 Madison Ave, Roslyn Heights, NY 11577Rental and Leasing ServicesTerm LoanPrime plus 2.75%5/27/203287.5 87.5 76.9 0.02 %
Distinctive Corporation dba Carmel Burger Bar(#)Carmel Plaza #106, Carmel-By-The-Sea, CA 95070Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/27/2032173.2 173.2 155.0 0.04 %
20
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Moody's Hardware LLC and MSH Holdings LLC(#)22754 W 220 St, Springhill, KS 66083Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/27/20488.0 8.0 9.0 — %
Beach Life Flooring LLC(#)5802 Terncrest Dr, Lithia, FL 33547Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/27/203215.9 15.9 14.0 — %
Ninefold Design LLC(#)160 Saint Elmo Way, San Francisco, CA 94127Nonstore Retailers Term LoanPrime plus 2.75%5/27/203211.3 11.3 9.9 — %
Billfold LLC and Billfold Solutions Inc(#)240 Kent Ave, Brooklyn, NY 11249Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%5/27/2032625.0 625.0 654.7 0.17 %
Caromark Building Group LLC(#)18137 Sunset Cove Ln, Cornelius, NC 28031Construction of BuildingsTerm LoanPrime plus 2.75%5/27/2032180.3 180.3 158.3 0.04 %
Vanco LLC(#)3919 and 3925 E Miami Ave, Phoenix, AZ 85040Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/26/203287.2 87.2 92.2 0.02 %
Insight Recovery Services, LLC(#)2123 Hendersonville Rd, Arden, NC 28704Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/26/203278.8 78.8 69.3 0.02 %
ACES of Brevard(#)1430 Glendale Ave NW, Palm Bay, FL 32907Social AssistanceTerm LoanPrime plus 6.5%5/26/203212.5 12.5 12.7 — %
MJZ, Inc.(#)31917 Cypress Glen Ct, Lake Elsinore, CA 92532Administrative and Support ServicesTerm LoanPrime plus 2.75%5/26/203219.5 19.5 17.1 — %
Superior Image Hair Studio llc(#)709 MacDade Blvd, Collingdale, PA 19023Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/26/204739.4 39.4 43.6 0.01 %
Best Value Multi Services Inc(#)452 S Cypress Rd, Pompano Beach, FL 33060Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/26/203211.3 11.3 9.9 — %
The BEDOS Group LLC(#)8190 Barker Cypress Rd, Cypress, TX 77433Administrative and Support ServicesTerm LoanPrime plus 2.75%5/26/203241.2 41.2 37.3 0.01 %
Beecher Development Services, Inc(#)2329 W Main St, Littleton, CO 80120Construction of BuildingsTerm LoanPrime plus 2.75%5/25/203257.5 57.5 50.5 0.01 %
Grade A Computer Services LLC(#)3347 Wickham Ave, Bronx, NY 10469Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/25/203212.5 12.5 12.7 — %
Copper Rose LLC(#)539 NE 94th St, Seattle, WA 98115Food ManufacturingTerm LoanPrime plus 2.75%10/25/20325.4 5.4 5.7 — %
Patriot Motors of KC LLC(#)4103 N Oak Trafficway, Kansas City, MO 64116Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%5/25/203254.2 54.2 47.6 0.01 %
DRKSL LLC, dba Andrew Levine Hai(#)127 E 59th St, 2nd Floor , Ste 6, New York, NY 10022Personal and Laundry ServicesTerm LoanPrime plus 6.5%5/24/203225.0 25.0 25.3 0.01 %
Roam Overland Vehicles LLC(#)12308 NE 56th St, Vancouver, WA 98682Repair and MaintenanceTerm LoanPrime plus 6.5%5/24/203220.0 20.0 20.2 0.01 %
C2PM(#)22601 Summerfield, Mission Viejo, CA 92692Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/24/203252.5 52.5 46.6 0.01 %
Serenity Keepers Home Care LLC(#)312 Broad St, Sumter, SC 29150Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/24/204747.5 47.5 52.0 0.01 %
Tampa Bay Physical Therapy LLC(#)13328 Telecom Dr, Temple Terrance, FL 33637Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/24/203250.0 50.0 44.0 0.01 %
American Dream Restaurants LLC(#)2761 Lake Shore Rd, Gilford, NH 03249Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/24/20321,250.0 1,250.0 1,097.9 0.28 %
21
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Dream Builders Child Care, LLC and Dreams in Action LLC(#)210 Snyder Rd, Hermitage, PA 16148Social AssistanceTerm LoanPrime plus 2.75%5/24/2047115.8 115.8 125.8 0.03 %
Jay Jalaram Lodge LLC dba Quality Inn(#)2055 E. Lincoln Hwy, Wooster, OH 44691AccommodationTerm LoanPrime plus 2.75%5/23/203265.0 65.0 68.7 0.02 %
Harvinderpal S. Dhatt dba Cold Stone Creamery(#)714 W Onstott Frontage Rd, Yuba City, CA 95991Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/23/203256.8 56.8 53.0 0.01 %
Capital Trading LLC(#)4911 Lyons Technology Pkwy, Coconut Creek, FL 33073Nonstore Retailers Term LoanPrime plus 2.75%5/23/2032610.0 610.0 535.8 0.14 %
Savage Sweets, Inc. dba Rita's of Doylestown(#)132 Veterans Ln, Doylestown, PA 18901Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/23/203254.4 54.4 49.4 0.01 %
Melissa J. Kopple(#)18840 SW Boones Ferry Rd, Tualatin, OR 97062Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%5/23/203225.0 25.0 25.3 0.01 %
Small Express LLC(#)20 St Andrews Ct, Westampton, NJ 08060Truck TransportationTerm LoanPrime plus 2.75%5/20/203210.6 10.6 10.0 — %
ESG International, Inc(#)8520 Allison Pointe Blvd, Indianapolis, IN 46250Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/20/203225.0 25.0 25.3 0.01 %
H&W Creative Branch LLC(#)7246 Wynnwood Ln, Houston, TX 77008Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%5/20/2032106.8 106.8 94.5 0.02 %
Wrenching Whalls, LLC(#)2428 Broad River Rd, Columbia, SC 29210Repair and MaintenanceTerm LoanPrime plus 2.75%5/20/203222.3 22.3 20.2 0.01 %
KNA Racing(#)102 N 1st St, Williams, AZ 86046Nonstore Retailers Term LoanPrime plus 2.75%5/20/203215.0 15.0 13.2 — %
Brothers Trucking Company Inc(#)202 Drakewood Pl, Cary, NC 27518Truck TransportationTerm LoanPrime plus 2.75%5/20/203250.0 50.0 52.8 0.01 %
VULCAIN NINE INC dba Charley's Philly Steaks(#)17650 NW 2nd Ave, Miami Gardens, FL 33169Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/20/2032153.3 153.3 135.8 0.03 %
Blount Auto Market(#)355 E Lanier Ave, Fayetteville, GA 30214Motor Vehicle and Parts Dealers Term LoanPrime plus 6.5%5/19/203225.0 25.0 25.3 0.01 %
EMC2 Mechanical Solutions LLC(#)10375 Plum Tree Cir, Hales Corners, WI 53130Specialty Trade ContractorsTerm LoanPrime plus 6.5%5/19/203212.5 12.5 12.7 — %
Stems, LLC and Meredith Hawksworth(#)1702 Utica Square, Tulsa, OK 74114Miscellaneous Store Retailers Term LoanPrime plus 2.75%5/19/203266.6 66.6 59.0 0.01 %
Hope Restored Counseling Services, PLLC(#)610 N Montana St, Dillon, MT 59725Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%5/19/203225.0 25.0 25.3 0.01 %
Natur Zone of Arizona, LLC dba Naturzone Pest Control(#)12633 N Cave Creek Rd, Ste 101, Phoenix, AZ 85022Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/19/203250.0 50.0 43.9 0.01 %
Arledge Enterprises, LLC .and Arledge Holdings, LLC.(#)7355 Tribble Gap Rd, Alto, GA 30510Social AssistanceTerm LoanPrime plus 2.75%5/19/2047146.3 146.3 164.6 0.04 %
Cordurouy LLC(#)665 Valley Dr, Hermosa Beach, CA 90254Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/18/203214.0 14.0 14.2 — %
Steckman Pilates and Wellness, LLC.(#)920 Woodstock Rd, Roswell, GA 30075Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/18/203214.6 14.6 13.3 — %
Guilin Construction, LLC(#)379 GGrandview Ave, Waterbury, CT 06708Construction of BuildingsTerm LoanPrime plus 2.75%5/18/2032250.0 250.0 230.3 0.06 %
22
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Liberty Guns and Equipment LLC(#)214 E. McIntyre St, Mullins, SC 29574Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%5/17/203256.9 56.9 56.2 0.01 %
Solfire Contract Manufacturing Inc & Solfire Holdings LLC(#)4939 Decatur Rd, Fort Wayne, IN 46806Miscellaneous ManufacturingTerm LoanPrime plus 2.75%5/17/2047196.5 196.5 200.7 0.05 %
Tesla Nail Salon LLC(#)157 S Compass Wy, Dania Beach, FL 33004Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/17/2032140.8 140.8 126.1 0.03 %
Safari Lux Lounge LLC(#)5020 E Independence Blvd, Charlotte, NC 28212Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/16/2047325.0 325.0 361.4 0.09 %
GreenKoat Solutions LLC dba FlexRock Coatings(#)824 S. Franklin St, Denver, CO 80209Chemical ManufacturingTerm LoanPrime plus 2.75%5/16/203222.5 22.5 19.8 0.01 %
The Feder Construction Company LLC(#)14 Manor Dr, Monsey, NY 10952Construction of BuildingsTerm LoanPrime plus 6.5%5/13/203225.0 25.0 25.3 0.01 %
Samiah & Co. LLC(#)15128 S Harlan Rd, Lathrop, CA 95330Nonstore Retailers Term LoanPrime plus 2.75%5/13/203219.5 19.5 17.1 — %
A Pro Duction Painting Company LLC(#)6810 Sagamore Court, French Village, MO 63036Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/12/203222.5 22.5 19.8 0.01 %
Abundant Life Surrogacy LLC(#)2716 Rose Hill St, Boise, ID 83705Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%5/12/203225.0 25.0 25.3 0.01 %
Empower Marketing, Inc(#)610 Jefferson Dr, Palmyra, VA 22963Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/12/203239.5 39.5 37.1 0.01 %
Bronze Goddess Beauty LLC(#)333 University Ave, Sacramento, CA 95825Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/11/203247.5 47.5 44.1 0.01 %
Infrared Girl LLC(#)42 Nashua Rd, Londonderry, NH 03053Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/11/203283.0 83.0 76.0 0.02 %
Replays Games LLC(#)1203 Woodward Ave, Muscle Shoals, AL 35661Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%5/11/203210.3 10.3 9.0 — %
Originals and Organics LLC(#)1902 Sussex Ln, Colorado Springs, CO 80909Clothing and Clothing Accessories Stores Term LoanPrime plus 6.5%5/10/203225.0 25.0 25.3 0.01 %
Concrete Buildings Tech Inc(#)6790 Williams Hwy, Grants Pass, OR 97527Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%5/10/2047336.3 336.3 365.9 0.09 %
Semilla Baking Co LLC(#)2310 McDuffie St, Houston, TX 77019Food ManufacturingTerm LoanPrime plus 6.5%5/10/203219.5 19.5 19.7 0.01 %
Wesley S. Brown dba Lynfield Hauling(#)3607 Waitesfield Rd, Johns Island, SC 29455Truck TransportationTerm LoanPrime plus 2.75%5/10/20329.8 9.8 8.7 — %
TPACUPS Inc. and GVCUPS, Inc(#)3810 W Neptune St, Tampa, FL 33629Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/10/203278.8 78.8 69.3 0.02 %
Inner Light Healing LLC(#)1025 Reynolds Rd, Johnson City, NY 13790Educational ServicesTerm LoanPrime plus 6.5%5/10/203225.0 25.0 25.3 0.01 %
MJD Truck Wash Inc(#)609 Old Omega Rd,, Tifton, GA 31793Repair and MaintenanceTerm LoanPrime plus 2.75%5/6/203252.5 52.5 55.5 0.01 %
AOG Investments LLC dba Fratello Cigars(#)44621 Guilford Dr, Ashburn, VA 20147Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%5/6/203262.5 62.5 54.9 0.01 %
23
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

T M Z Plants & Trees, Inc.(#)13667 Okeechobee Blvd, Loxahatchee Groves, FL 33470Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%5/5/203267.5 67.5 60.2 0.02 %
True Care Lawn Service of Lee County Inc(#)1522 Senior Court, Lehigh Acres, FL 33971Administrative and Support ServicesTerm LoanPrime plus 2.75%5/5/203216.1 16.1 14.2 — %
Comprehensive Health & Wellness Center LLC(#)1785 Airport Rd Ste Bd, Gallatin, TN 37066Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/4/20328.2 8.2 7.2 — %
Cartesios Precision Collison, LLC(#)1702 PA-940, Pocono Pines, PA 18350Repair and MaintenanceTerm LoanPrime plus 2.75%5/4/2047220.0 220.0 237.2 0.06 %
Blue Oaks Financial LLC(#)5716 Lonetree Blvd, Rocklin, CA 95765Educational ServicesTerm LoanPrime plus 6.5%5/3/203225.0 25.0 25.3 0.01 %
Ryno Resumes, LLC(#)1015 Grupp Rd, Des Peres, MO 63131Administrative and Support ServicesTerm LoanPrime plus 6.5%5/3/203215.0 15.0 15.2 — %
Motion Physical Medicine & Wellness, PLLC and Campus Motion Holdings(#)8118 Fry Rd, Houston, TX 77065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/2/204774.2 74.2 80.8 0.02 %
Ghostcat Holdings, LLC and VJ Supply Inc(#)392 N Lake Rd, Hoover, AL 35242Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%4/29/2032149.1 149.1 130.9 0.03 %
Silbertechit LLC(#)23 Sussex Rd, Bergenfield, NJ 07621Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/29/2032164.0 164.0 155.3 0.04 %
New York Home Health Care Equipment, LLC(#)30 Hopper St, Westbury, NY 11590Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/29/2032372.0 372.0 372.2 0.09 %
TJ Rising Group LLC dba Gastrome Market and J's Restaurant Group LLC(#)1359 E Weldon Ave, Phoenix, AZ 85014Food and Beverage Stores Term LoanPrime plus 2.75%12/29/203281.3 81.3 76.0 0.02 %
Eagle Theater Corp,Beautiful City LLC,Eagle Theater Operating LLC ,Eag(#)1802 W. Main St,, Robinson, IL 62454Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%4/29/2047730.2 730.2 813.8 0.21 %
Vanguard Utility Service, Inc.(#)1421 West 9th St, Owensboro, KY 42301Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/29/2047686.5 686.5 705.3 0.18 %
Get Your Beauty On LLC(#)11150 Huron St, Northglenn, CO 80234Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/29/20329.2 9.2 8.2 — %
Vanguard Utility Service, Inc.(#)1421 West 9th St, Owensboro, KY 42301Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/29/2032435.8 435.8 382.8 0.10 %
The Elysian Fields Optimum Wellness & Mental HealthGroup, LLC(#)2222 North Howard St, Baltimore, MD 21218Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%4/29/2032106.3 106.3 93.4 0.02 %
North America Lighting LLC(#)8509 Phoenix Dr, Manassas, VA 20110Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%4/29/2032198.5 198.5 175.0 0.04 %
World Fire Protection Inc(#,^)41905 Boardwalk, Palm Desert, CA 92211Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/29/2032215.7 215.7 203.7 0.05 %
Superior Equipment Repair Inc.and Timothy Ayles(#)1905 Aviation Blvd., Lincoln, CA 95648Repair and MaintenanceTerm LoanPrime plus 2.75%4/29/20471,246.7 1,246.7 1,297.2 0.33 %
Bella Sloan Enterprises LLC(#)6950 Castor Ave, Philadelphia, PA 19149Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/29/2032418.6 418.6 391.5 0.10 %
Tomorrows LLC(#)713 S Washington St, Junction City, KS 66441Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/29/204756.2 56.2 60.9 0.02 %
24
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

1st Choice Property Services LLC(#)554 Deer Ridge Ln S, Maplewood, MN 55119Administrative and Support ServicesTerm LoanPrime plus 2.75%4/29/203287.0 87.0 76.4 0.02 %
Goodtimez Campground LLC(#)43779 Van Dyke Ave, Sterling Heights, MI 48314Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/29/203286.1 86.1 77.0 0.02 %
CameoFX Inc(#)1 Park Plaza, Irvine, CA 92614Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%4/29/2032161.5 161.5 147.3 0.04 %
GARI'S TRUCK TIRES, LLC(#)3005 Mountain Pass Blvd, Anthony, TX 79821Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%7/29/203287.5 87.5 92.6 0.02 %
Brianna Sawyer dbaPacific Mechanical Contractor(#)1120 Sequoia St, Klamath Falls, OR 97601Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/28/203254.7 54.7 48.0 0.01 %
Ambrosial Living LLC(#)508 Olympia St, DeSoto, TX 75115Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%4/28/2047174.7 174.7 185.0 0.05 %
Central Florida Health and Rehab Clinic LLC(#)3975 S Orange Blossom Trl, Orlando, FL 32839Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/28/2047842.5 842.5 912.4 0.23 %
99 Sai Ram LLC dba South Main Wine & Spirits(#)442 S Main St, West Hartford, CT 06110Food and Beverage Stores Term LoanPrime plus 2.75%4/28/2032112.8 112.8 99.1 0.03 %
Guy Driscoll dba Metal Parts Machine(#)5551 Belle Ave, Cypress, CA 90630Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/28/2032104.4 104.4 97.3 0.02 %
Johnson Racing Suspension(#)153 Northway Park Rd, Machesney Park, IL 61115Repair and MaintenanceTerm LoanPrime plus 6.5%4/27/203222.4 22.4 22.7 0.01 %
Shepherd Fitness, LLC dba Workout Anytime Ooltewah and Shepherd Fitnes(#)9408 Apison Pike, Ooltewah, TN 37363Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/27/2032149.2 149.2 140.8 0.04 %
Bullseye Products International, LLC(#)3595 Polaris Ave, Las Vegas, NV 89103Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%4/27/203239.1 39.1 34.4 0.01 %
Six Mile Station LLC(#)350 W Whalen St, Guernsey, WY 82214AccommodationTerm LoanPrime plus 2.75%4/27/2047132.3 132.3 147.6 0.04 %
Sterling Light Productions Inc(#)6250 White Mill Rd, Fairburn, GA 30213Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%4/27/203262.1 62.1 54.6 0.01 %
DA BUSINESS MANAGEMENT INC(#)6700 Tampa Ave, Reseda, CA 91335Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%4/27/203224.9 24.9 25.2 0.01 %
Valley Remodel and repair LLC(#)1103 W Sam St, Kent, WA 98032Construction of BuildingsTerm LoanPrime plus 6.5%4/27/203224.9 24.9 25.2 0.01 %
Pure Recovery California, Inc ,ZK Sports, LLC & 239 Investments, LLC(#)721 Mandalay Beach Rd, Oxnard, CA 93035Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%4/27/2032621.2 621.2 546.0 0.14 %
Gulfside Property Maintenance & Services LLC(#)1503 Chat Holley Rd, Santa Rosa Beach, FL 32459Repair and MaintenanceTerm LoanPrime plus 6.5%4/27/203224.7 24.7 25.0 0.01 %
Storm-Tek, Inc(#)100 Glenborough Dr, Houston, TX 77060Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%4/27/2032525.3 525.3 488.0 0.12 %
Phylicia Taniel Cook(#)9A Rue Dubois, Lady’s Island, SC 29907Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/26/20327.6 7.6 7.0 — %
Royal Home Care and Staffing LLC(#)2288 Blue Water Blvd, Odenton, MD 21113Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/26/2032124.2 124.2 112.6 0.03 %
NetDVS Limited Liability Company(#,^)164 Brighton Rd, Clifton, NJ 07012Nonstore Retailers Term LoanPrime plus 2.75%4/26/203249.7 49.7 43.6 0.01 %
25
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Lowery Pena Construction Company Inc(#)249 Mylnar Ave, Manteca, CA 95336Construction of BuildingsTerm LoanPrime plus 2.75%4/26/2032218.7 218.7 192.1 0.05 %
Sherwood Sporthorses Inc(#)20530 Forestview, Magnolia, TX 77355Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/25/20328.9 8.9 7.9 — %
Matai's Creamery Inc(#)152 S Aiken Ln, Aiken, SC 29803Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/25/203219.4 19.4 17.4 — %
Social Link LLC dba Must See Nashville(#)1200 Clinton St, Nashville, TN 37203Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/22/203218.6 18.6 16.4 — %
SilverLo Enterprises LLC(#)2720 Old Rosebud Rd, Lexington, KY 40509Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/22/203249.7 49.7 52.5 0.01 %
LegacyWorx LLC dba HOTWORX(#)19764 Anderson Rd, Mt Vernon, WA 98274Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/22/203254.8 54.8 50.7 0.01 %
Miksanek Enterprises Inc(#)7633 East St Joe Hwy, Grand Ledge, MI 48837Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%4/22/203277.5 77.5 68.1 0.02 %
HealThySelf HealThyWorld LLC(#)3741 Parke Dr, Edgewater, MD 21037Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/22/203285.7 85.7 86.4 0.02 %
Squarehaus LLC(#)119 Regal Row, Ste D, Dallas, TX 75247Construction of BuildingsTerm LoanPrime plus 2.75%4/22/2032273.3 273.3 247.4 0.06 %
Olde Colonial Realty, Inc dba Olde Colonial Restoration(#)2033 Forest Dr, Fayetteville, GA 30214Construction of BuildingsTerm LoanPrime plus 2.75%4/22/203241.7 41.7 36.8 0.01 %
Pitmilly LLC(#)28 Scarlet Oak Dr, Lafayette Hill, PA 19444Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/21/203212.5 12.5 11.6 — %
CARMEN STOCKING LLC(#)84122 Avendia Cedrus, Coachella, CA 92236Truck TransportationTerm LoanPrime plus 6.5%4/20/203224.9 24.9 25.2 0.01 %
Hartman Family Wellness, PLLC.(#)3951 Brown TRL, Colleyville, TX 76034Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/20/203245.7 45.7 43.4 0.01 %
Lice Ladies Atlanta, LLC(#)6 Executive Park Dr NE Ste T25, Atlanta, GA 30329Health and Personal Care Stores Term LoanPrime plus 2.75%4/20/20328.6 8.6 7.6 — %
Alien Technologies Inc dba Apex Call Centers(#)6640 Lusk Blvd., San Diego, CA 62121Administrative and Support ServicesTerm LoanPrime plus 2.75%4/20/2032492.5 492.5 442.6 0.11 %
Dahlberg Enterprises LLC dba Alpine Janitorial(#)4070 Bluewing Ln, Washoe Valley, NV 89704Administrative and Support ServicesTerm LoanPrime plus 2.75%4/20/203271.0 71.0 62.7 0.02 %
Melanj Hair LLC(#)3781 Alpine Ridge Ln, Memphis, TN 38125Nonstore Retailers Term LoanPrime plus 2.75%4/20/203222.4 22.4 19.6 — %
Relax Mind & Body Massage PLLC(#)3710 168th St NE, Arlington, WA 98223Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/19/203250.8 50.8 44.6 0.01 %
Chu Management Group, LLC dba Juicy Lou's Burgeria(#)1245 Libra Dr, Lincoln, NE 68512Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/19/203218.6 18.6 16.7 — %
Redmond Investments LLC dba FiiZ Drinks(#)2340 Texas Heritage Pkwy, Ste 900, Brookshire, TX 77423Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/19/203225.6 25.6 23.6 0.01 %
CBK Construction LLC(#)315 E North St, Kalamazoo, MI 49007Construction of BuildingsTerm LoanPrime plus 2.75%4/18/2032496.9 496.9 466.3 0.12 %
Taylor Events Inc.(#)2502 Chelsea St, Orlando, FL 32803Administrative and Support ServicesTerm LoanPrime plus 2.75%4/18/203252.2 52.2 46.8 0.01 %
26
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Ambient Bamboo Products, Inc(#)6375-6411 E Northwest Hwy Ste 160, Dallas, TX 75214Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%4/15/2032170.2 170.2 149.6 0.04 %
Ag to go, LLC(#)395 Summit Point Dr, Henrietta, NY 14467Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%4/15/2032124.2 124.2 112.2 0.03 %
Salamanca Foods Inc.(#)35 Church St, Salamanca, NY 14779Food and Beverage Stores Term LoanPrime plus 2.75%4/15/2032310.6 310.6 294.2 0.07 %
B.G. Technical, Inc..& Linal OG Services LLC(#)12808 West Airport Blvd., Sugar Land, TX 77478Support Activities for MiningTerm LoanPrime plus 2.75%4/15/20321,242.3 1,242.3 1,263.8 0.32 %
QVS Corporation dba Quilcene Village Store(#)294235 US-101, Quilcene, WA 98376Food and Beverage Stores Term LoanPrime plus 2.75%4/15/204747.7 47.7 53.8 0.01 %
OP Electric LLC(#)1201 Silva St, Snohomish, WA 98290Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/15/203218.6 18.6 16.4 — %
Terra Motor Sports LLC(#)11935 124th Ave NE, Kirkland, WA 98034Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%4/14/203214.9 14.9 13.5 — %
Evolution Eats LLC(#)843 Highland View Ln, Metamora, MI 48455Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/14/203254.9 54.9 48.7 0.01 %
IMO GLOW LLC(#)4251 Salzedo St, Coral Gables, FL 33134Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/13/2032145.1 145.1 129.6 0.03 %
Law Office Yesenia Collazo PA(#)10200 NW 25th St, Doral, FL 33172Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/13/204765.2 65.2 73.6 0.02 %
STAR AUTO BODY, LLC(#)1610 N Fairview St, Santa Ana, CA 92706Repair and MaintenanceTerm LoanPrime plus 2.75%4/12/2047277.3 277.3 297.7 0.08 %
Jeremy Handyman Service LLC(#)319 Spring Ln, Destin, FL 32541Repair and MaintenanceTerm LoanPrime plus 6.5%4/12/203215.0 15.0 15.1 — %
Russell Major(#)5329 Main Rd, Sweet Valley, PA 18656Repair and MaintenanceTerm LoanPrime plus 6.5%4/12/203212.5 12.5 12.6 — %
Royaltyzilla Associates LLC(#)40315 Michigan Ave #99, Canton, MI 48188Support Activities for TransportationTerm LoanPrime plus 6.5%4/12/203224.9 24.9 25.2 0.01 %
Lewes Bottom Line LLC(#)32099 Conleys Chapel Rd, Lewes, DE 19958Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/12/203248.3 48.3 45.1 0.01 %
Maureen E Sweeney PsyD(#)4612 Overland Rd, Bensalem, PA 19020Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/12/203220.2 20.2 19.1 — %
Active Learning Academy-Norton LLC(#)2535 North Studio Rd, Bend, OR 97701Social AssistanceTerm LoanPrime plus 2.75%4/11/2047163.4 163.4 181.6 0.05 %
Neitz Electrical Contracting LLC(#)547 Crown St, Morrisville, PA 19067Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/11/203214.9 14.9 13.6 — %
TSMA of Short Hills Inc(#)531 Millburn Ave, Short Hills, NJ 07078Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/8/203211.5 11.5 10.1 — %
PER-Gus, LLC(#)70 River Run Rd, Keystone, CO 80435Rental and Leasing ServicesTerm LoanPrime plus 2.75%4/8/2047649.3 649.3 733.1 0.19 %
Royal Brand Resturants Inc dba Huckleberry’s(#)4360 W. Shaw Ave, Fresno, CA 93722Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/8/203341.4 41.4 38.9 0.01 %
Bakersfield Glass and Window Inc & M & M Rogers LLC(#)1030 Alta Vista Dr, 954, Bakersfield, CA 93305Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/8/203279.5 79.5 84.0 0.02 %
27
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Eminat, LLC dba Eminat Research Group(#)14601 SW 29th St, Miramar, FL 33027Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/8/203222.4 22.4 19.6 — %
Optima Holdings LLC(#)45 Charles Hommel Rd, Saugerties, NY 12477Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/7/203214.8 14.8 13.0 — %
Little Milestones For Small Discoveries LLC(#)28 Suburbia Dr, Jersey City, NJ 07305Social AssistanceTerm LoanPrime plus 2.75%6/6/203238.5 38.5 34.4 0.01 %
Devine Fitness LLC(#)40 N 2nd St, Rio Vista, CA 94571Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/6/203219.0 19.0 17.4 — %
Designer Golf Scorecards LLC(#)1014 US-19, Holiday, FL 34691Printing and Related Support ActivitiesTerm LoanPrime plus 6.5%4/1/203225.0 25.0 25.3 0.01 %
Jonathan D. Pratt dba Jon Pratt Carpentry(#)1405 Canton Ave, Milton, MA 02186Specialty Trade ContractorsTerm LoanPrime plus 6.5%4/1/203215.0 15.0 15.2 — %
Samson Cinema Holdings, Inc(#)1400 Pile St, Clovis, NM 88101Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%9/30/2047361.7 361.7 408.3 0.10 %
New Life Center for Family Enrichment LLC(#)Plaza 38, 1509 Route 38, Units 1 & 2, Hainesport, NJ 08036Social AssistanceTerm LoanPrime plus 2.75%3/31/203246.7 46.7 41.0 0.01 %
Remote Alaska Solutions Inc; Alaska Concrete Solutions Inc & RAS Energy(#)450 S Old Trunk Rd, Palmer, AK 99645Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/31/2032630.7 630.7 593.6 0.15 %
Brandon Liberty Enterprises LLC(#)216 N Main St, Plattsburg, MO 64477Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%3/31/203215.6 15.6 13.7 — %
ZenDog, LLC(#)858 C Ridge Rd, Duson, LA 70529Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/31/203238.0 38.0 33.4 0.01 %
JLK Construction, LLC(#)1214 Frederick Ave, St Joseph, MO 64501Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/31/20321,235.1 1,235.1 1,153.2 0.29 %
Robert H Lund DDS Inc.(#)3829 Hayvenhurst Dr, Encino, CA 91436Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/2032175.1 175.1 161.8 0.04 %
Appian Logic LLC(#)911 Falls Manors Ct,, Great Falls, VA 22066Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/31/2032494.0 494.0 435.1 0.11 %
Lounge Around, LLC;Enlight, LLC;Hour Entertainment LLC;Bobby Morganste(#)77 Buck Rd, Huntingdon Valley, PA 19006Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/30/2047278.8 278.8 314.8 0.08 %
Lounge Around, LLC;Enlight, LLC; Hour Entertainment LLC(#)77 Buck Rd, Huntingdon Valley, PA 19006Rental and Leasing ServicesTerm LoanPrime plus 2.75%11/30/2047190.9 190.9 215.5 0.05 %
LINDBERG-TURNER MEDICAL EQUIPMENT LLC(#)315 Mission St SE Ste 100, Salem, OR 97302Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/30/2032227.0 227.0 201.1 0.05 %
Jack's Legacy Services, LLC(#)1901 Avacado Ave, Melbourne, FL 32935Support Activities for TransportationTerm LoanPrime plus 2.75%3/29/2032509.1 509.1 482.3 0.12 %
All Green Turf Management LLC(#)126 Emerald Ct, Liberty, SC 29657Crop ProductionTerm LoanPrime plus 2.75%3/29/203213.2 13.2 14.0 — %
Tiny's Gumbo Bar NYC LLC(#)275 Church St, New York, NY 10013Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/29/203222.4 22.4 20.4 0.01 %
Rella Rells Solutions, LLC(#)15401 Delahunty Ln, Pflugerville, TX 78660Merchant Wholesalers, Durable Goods Term LoanPrime plus 6.5%3/28/20325.4 5.4 5.5 — %
28
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Compass Innovations LLC(#)8950 Villa La Jolla Dr C-114, San Diego, CA 92037Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/28/2032494.0 494.0 439.6 0.11 %
SHIELD TRANSPORTATION INC(#)9739 S Harlem Ave. Unit 3E, Chicago Ridge, IL 60415Transit and Ground Passenger TransportationTerm LoanPrime plus 6.5%3/28/203224.8 24.8 25.1 0.01 %
Ignite Health Solutions LLC(#)3251 Cedar St, Unit B, Philadelphia, PA 19134Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/28/203264.2 64.2 56.9 0.01 %
Chantay Richards LLC(#)19800 Hawthorne Blvd, Torrance, CA 90503Personal and Laundry ServicesTerm LoanPrime plus 6.5%3/28/203224.8 24.8 25.1 0.01 %
RS Dean Enterprises and RCSC Properties(#)3609 RICHLAND AVE W, Aiken, SC 29801Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%3/25/2047397.0 397.0 411.0 0.10 %
The Atticus Group, LLC(#)2 W Market St, West Chester, PA 19382Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%3/25/2032247.0 247.0 235.2 0.06 %
Aspen Welding LLC(#)28803 Hwy 6, Rifle, CO 81650Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/25/2032202.1 202.1 179.7 0.05 %
4 POINTS TOWING & ROADSIDE SERVICE LLC;4 Points Automotive LLC(#)5425 Willow Grove Rd, Camden Wyoming, DE 19934Repair and MaintenanceTerm LoanPrime plus 2.75%3/25/2047449.0 449.0 468.9 0.12 %
I'm HO-B LLC(#)3320 Silas Creek Pkwy, Winston-Salem, NC 27103Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%3/25/2032123.5 123.5 108.3 0.03 %
Todd Eric Chumbley and Neptune Aquarium Design Inc(#)11315 Sunrise Gold Circle, Rancho Cordova, CA 95742Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/24/203276.0 76.0 66.6 0.02 %
Little Angels Daycare and Learning Center LLC and Laboy & Diaz LLC(#)4551 Summit Blvd, West Palm Beach, FL 33415Social AssistanceTerm LoanPrime plus 2.75%3/24/20485.0 5.0 5.6 — %
Leedann Properties LLC(#)534 Mill St SE, Gainesville, GA 30501Rental and Leasing ServicesTerm LoanPrime plus 2.75%11/24/203229.5 29.5 26.0 0.01 %
All American Spirit Moving Co. LLC(#)14512 SE 262nd St, Kent, WA 98042Truck TransportationTerm LoanPrime plus 2.75%3/24/203242.1 42.1 36.9 0.01 %
JC Wild Birds LLC(#)5020 N Nevada Ave, Colorado Springs, CO 80918Miscellaneous Store Retailers Term LoanPrime plus 2.75%3/24/203221.2 21.2 18.8 — %
Wonderly Trucking & Excavating, LLC and Wonderly Real Estate, LLC(#)3939 Fremont Pike, Perrysburg, OH 43551Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/24/2032489.1 489.1 460.4 0.12 %
Alert Traffic Control, Inc and Remsund Group Inc(#)543 Sower Dr, Bayfield, CO 81122Administrative and Support ServicesTerm LoanPrime plus 2.75%3/24/2047486.3 486.3 505.3 0.13 %
Early Care Evolution LLC(#)823 Roget Way, Lawrenceville, GA 30045Educational ServicesTerm LoanPrime plus 6.5%3/23/203218.3 18.3 18.5 — %
Impresa Building Systems of Greenwood, SC, LLC(#)161 Rock Church Rd SE, Greenwood, SC 29649Wood Product ManufacturingTerm LoanPrime plus 2.75%10/23/2032605.6 605.6 576.6 0.15 %
Lehigh Auto Sales and Service LLC(#)826 Hanover Ave, Allentown, PA 18109Motor Vehicle and Parts Dealers Term LoanPrime plus 6.5%3/23/203224.8 24.8 25.0 0.01 %
GAIA INC(#)513 1st St, Cheney, WA 99004Real EstateTerm LoanPrime plus 6.5%3/23/203224.8 24.8 25.0 0.01 %
29
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Happy Employment LLC(#)268 Brookdale Dr, Little Elm, TX 75068Administrative and Support ServicesTerm LoanPrime plus 2.75%3/23/204767.3 67.3 76.0 0.02 %
Zenoff Products. Inc.(#)25 Tamalpais Ave, San Anselmo, CA 94960Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%3/21/2032494.0 494.0 433.2 0.11 %
Evolving Nurse, LLC(#)2940 Noble Rd, Cleveland Heights, OH 44121Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/18/204786.5 86.5 97.7 0.02 %
Zeroholding, LLC(#)11175 Cicero Dr, Alpharetta, GA 30022Administrative and Support ServicesTerm LoanPrime plus 2.75%3/18/2032864.5 864.5 769.5 0.20 %
Firm Foundations, Inc.(#)1455 S Richland Creek Rd, Sugar Hill, GA 30518Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/18/20321,086.9 1,086.9 1,013.3 0.26 %
Ramay Consulting Inc(#)12 Lone Pine Trail Loop, High Rolls, NM 88325Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%3/17/203224.8 24.8 25.0 0.01 %
GreenLite Holdings LLC(#)2415 E Camelback Rd, Phoenix, AR 85016Real EstateTerm LoanPrime plus 2.75%3/17/203222.2 22.2 19.5 — %
Digital 1 Enterprises, Inc(#)5521 Fort Ave, Lynchburg, VA 24502Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/17/2032129.7 129.7 122.0 0.03 %
Resurgence Medical Spa LLC(#)3025 Matlock Rd, Arlington, TX 76015Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/17/2032153.6 153.6 142.7 0.04 %
Venture 35 LLC(#)871 Buck Swamp Rd, Goldsboro, NC 27530Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/17/2032229.8 229.8 242.5 0.06 %
East Side Muay Thai LLC(#)2135 General Booth Blvd, Virginia Beach, VA 23454Educational ServicesTerm LoanPrime plus 6.5%3/17/203212.4 12.4 12.5 — %
Venture 35 LLC(#)871 Buck Swamp Rd, Goldsboro, NC 27530Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/17/2047374.1 374.1 422.3 0.11 %
Sip E Cup 225 LLC(#)1833 Beaumont Dr, Baton Rouge, LA 70806Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/16/203216.4 16.4 16.8 — %
Tess Care Living Home LLC(#)19200 SW Kinnaman Rd, Beaverton, OR 97078Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/15/203214.8 14.8 13.0 — %
HAVAM LLC & Anderson and Mason LLC dba Foxes Bar & Grill(#)30 Welland Ave, Irvington, NJ 07111Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/15/2047140.4 140.4 146.5 0.04 %
North Atlanta pediatrics and family care and Zuberi Medical Clinic, PC(#)325 Lester Rd NW, Lawrenceville, GA 30044Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/15/2032151.2 151.2 132.5 0.03 %
Silbertechit LLC(#)300 Tice Blvd, Woodcliff Lake, NJ 07677Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/15/20321,072.0 1,072.0 940.0 0.24 %
Berens and Miller PA(#)80 S 8th St, Ste 3720, Minneapolis, MN 55402Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/15/2032296.4 296.4 260.4 0.07 %
Stuff by SJ LLC(#)342 Bloomfield Ave, Montclaire, NJ 07042Food ManufacturingTerm LoanPrime plus 2.75%3/15/203247.8 47.8 42.8 0.01 %
AISJ1, Inc. dba America Italiana(#)275 E Brokaw Rd, San Jose, CA 95112Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/14/2032274.2 274.2 240.4 0.06 %
Exclusive Automation, LLC dba Surety Automation(#)488 Gilia Dr, Spring Creek, NV 89815Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/14/203220.0 20.0 17.5 — %
Charlotte County Painting and Resurfacing Inc.(#)1439 Shields St, Port Charlotte, FL 33980Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/14/2047126.4 126.4 140.3 0.04 %
30
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Eagle Resource Group Inc(#)5775 Glenridge Dr, Ste B430, Sandy Springs, GA 30328Administrative and Support ServicesTerm LoanPrime plus 2.75%3/11/203261.8 61.8 61.5 0.02 %
Happier Now LLC(#)724 Homestead Rd, La Grange Park, IL 60526Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/11/20326.3 6.3 5.5 — %
Stones Flippin Pizza, Inc(#)127614 Clinton Keith Rd, Ste D-102, Murrieta, CA 92562Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/11/203237.2 37.2 32.7 0.01 %
AMG Auto Inc(#)1020 Route 22, Somerville, NJ 08876Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/11/2032688.1 688.1 603.3 0.15 %
MVT Contractors LLC(#)46 Bayard St, Ste 418, New Brunswick, NJ 08901Construction of BuildingsTerm LoanPrime plus 2.75%3/11/203214.8 14.8 13.4 — %
Southdown Coffee, LLC;Southdown Coffee Port Jefferson, LLC & Southdown(#)49 Maple Ave, Sea Cliff, NY 11579Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/11/203223.1 23.1 21.8 0.01 %
Asad N. Chaudhry DDS PLLC;Asad N Chaudhry, LLC and MNC PROPERTIES(#)2571 Baglyos Circle, Bethlehem, PA 18020Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/11/2032153.9 153.9 151.1 0.04 %
Hawthorne Country Store Inc(#)665-675 W Grand Ave, Escondido, CA 92025Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/11/203251.9 51.9 54.7 0.01 %
Eminere Hair LLC(#)303 W Division St, Chicago, IL 60610Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/11/20327.4 7.4 6.5 — %
Ororeal LLC(#)350 7th Ave, New York, NY 10001Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/11/2032988.0 988.0 866.3 0.22 %
Magnum Paving, Inc. and Steven Haws Enterprises Inc(#)2425 S 10th Ave, Tucson, AZ 85713Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/11/2032870.7 870.7 800.1 0.20 %
Two Chicks in the Mix LLC(#)6018 Shenandoah Ave, Los Angeles, CA 90056Food ManufacturingTerm LoanPrime plus 2.75%3/11/203216.3 16.3 14.8 — %
CELEBRATIONS! LLC(#)100 St..Marks St Dr, South Pekin, IL 61564Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/10/20476.6 6.6 7.3 — %
Point Loma Tea, Inc.(#)2770 Historic Decatur Rd, San Diego, CA 92106Food and Beverage Stores Term LoanPrime plus 2.75%3/10/203246.7 46.7 40.9 0.01 %
SOGO TRADING, INC(#)23497 Eichler St, Hayward, CA 94545Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%3/10/2032213.4 213.4 188.2 0.05 %
Inno Knits, LLC and Sports Brand Group, Inc.(#)2 Clerico Ln, Building 2 Ste 221, Hillsborough Township, NJ 08844Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%3/10/2032370.5 370.5 324.9 0.08 %
NTIT Solutions, LLC dba GoLocker(#)141 Flushing Ave, Brooklyn, NY 11205Administrative and Support ServicesTerm LoanPrime plus 2.75%3/10/203221.8 21.8 19.1 — %
DTT Enterprises, LLc dba Highstroke Media(#)6565 Austin Hope Ave, Las Vegas, NV 89118Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/10/203286.5 86.5 75.8 0.02 %
Far Out Tiny Homes, Inc.(#)2870 E Serene Ave, Henderson, NV 89074Construction of BuildingsTerm LoanPrime plus 2.75%3/10/203214.8 14.8 13.0 — %
31
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Willows Associates Psychological & Counselling Services Inc. and Bryan(#)857 Turnpike St., North Andover., MA 01845Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/10/20324.7 4.7 4.1 — %
Szoj Jewelers Corp.(#)6 Georgia St, Jackson Township, NJ 08527Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%3/9/203214.8 14.8 13.3 — %
Under the Rose Inc dba Avocado Cafe(#)11 Primrose St, Palmer Lake, CO 80133Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/9/2047299.0 299.0 322.3 0.08 %
LAST DROP FILMS, INC(#)4536 Avocado St, Los Angeles, CA 90027Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/9/203286.5 86.5 83.1 0.02 %
Edge Fitness Performance(#)100 General Oakley Dr, Ashland City, TN 37015Nonstore Retailers Term LoanPrime plus 2.75%3/9/203216.0 16.0 14.0 — %
Lion Inc. and Group1 Acquisitions LLC(#)318 W Half Day Rd, Buffalo Grove, IL 60089Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/8/2047150.9 150.9 170.3 0.04 %
Wayne Rebarber D.C., P.C and Wayne C Rebarber(#)307 Raritan Ave, Highland Park, NJ 08904Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/8/2047158.6 158.6 170.6 0.04 %
Heart to Heart Senior Care Center Inc(#)125 Charlton Dr, Madison, MS 39110Social AssistanceTerm LoanPrime plus 2.75%3/8/203239.0 39.0 40.9 0.01 %
Miramar MBA Financial Co(#)8380 Miramar Mall, San Diego, CA 92121Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/7/2032123.8 123.8 108.5 0.03 %
LoveBirds LLC dba Wine and Design Fayetteville(#)113 Donaldson St, Fayetteville, NC 28301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/7/203244.2 44.2 38.8 0.01 %
Rogers Remodeling LLC(#)830 W 17th St, Bloomington, IN 47404Construction of BuildingsTerm LoanPrime plus 2.75%3/7/203214.8 14.8 13.0 — %
Pulaski Lumber Company Inc(#)218 S 2ND ST Pulask,iIowa, Pulaski, IA 52584Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/7/2032148.2 148.2 144.8 0.04 %
Malone Enterprises LLC dba Glass Doctor Auto of Midvale(#)8395 700 W, Midvale, UT 84070Repair and MaintenanceTerm LoanPrime plus 2.75%3/7/20328.7 8.7 7.7 — %
Short Order LLC and Kimmy Sue, LLC(#)2244 Wilmington Pike, Dayton, OH 45420Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/4/204784.4 84.4 89.2 0.02 %
Overgaard's Artcraft Printers Inc(#)2213 S Michigan St, South Bend, IN 46613Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/4/203269.2 69.2 66.2 0.02 %
PBKW Ltd dba KIDZ WATCH(#)580 Craig Dr Ste 8, Perrysburg, OH 43551Social AssistanceTerm LoanPrime plus 2.75%3/4/203250.6 50.6 44.5 0.01 %
Island Kaii & Company dba Island Kaii(#)20140 Livernois, Detroit, MI 48221Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%3/4/203219.5 19.5 17.1 — %
Breakthrough Clinical Services LLC(#)378 Windsor Ave, Windsor, CT 06095Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/4/204758.4 58.4 64.0 0.02 %
Lions of Fortitude LLC dba : Fortitude Coffee Company(#)13086 Crestbrook Dr, Manassas, VA 20112Food ManufacturingTerm LoanPrime plus 2.75%3/4/203214.8 14.8 13.8 — %
Aracena Agency Corp(#)1767 NJ-10 Unit 4, Morris Plains, NJ 07950Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%3/2/203211.1 11.1 9.7 — %
EAZZY AUTOMOTIVE INC.dba Eazzy Auto Brokers & Leasing(#)17087 E 8 Mile Rd, Eastpointe, MI 48021Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/2/204722.2 22.2 23.8 0.01 %
32
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Hardscape Factory LLC(#)3069 Lodgepole Dr, Whiteland, IN 46184Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/2/20327.4 7.4 6.5 — %
Morris Law Firm P C(#)375 Linwood Ave, Buffalo, NY 14209Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/28/203285.9 85.9 78.4 0.02 %
SidEats Inc and Mad Twist, LLC(#)3633 S Ridgewood Ave, Port Orange, FL 32129Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2032199.9 199.9 176.6 0.04 %
Gravy LLC dba Gravy and Salt & Schmaltz LLC(#)17629 Vashon Hwy SW, Vashon, WA 98070Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2047165.6 165.6 179.9 0.05 %
Erupted Vapor LTD(#)6303 NE Hwy 99, Vancouver, WA 98665Miscellaneous Store Retailers Term LoanPrime plus 2.75%2/28/203273.7 73.7 64.6 0.02 %
Candor Homes, LLC(#)217 NW Scott St, Ankeny, IA 50023Construction of BuildingsTerm LoanPrime plus 2.75%2/28/203215.5 15.5 15.2 — %
Braswell Services, LLC(#)139 Miller Ave, New Boston, TX 75570Repair and MaintenanceTerm LoanPrime plus 2.75%2/28/2032417.4 417.4 366.0 0.09 %
Brittany L Smith dba Money Ball Enterprises(#)17 Davis Ave, Salem, NJ 08079Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/204722.2 22.2 24.0 0.01 %
Benjamin J. Gush dba Professional Auto Wash(#)1345 Athalia Ave, Monessen, PA 15062Repair and MaintenanceTerm LoanPrime plus 2.75%2/28/203243.0 43.0 42.3 0.01 %
S. Heaney Marine Construction Inc(#)118 Washington Ave, Greenport, NY 11944Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%2/28/203246.3 46.3 44.8 0.01 %
Praeder Ranch Resort L.L.C(#)30400 S Sunray Trail, Worley, ID 83876AccommodationTerm LoanPrime plus 2.75%2/28/2047535.6 535.6 595.5 0.15 %
Finishing Touch Lawncare and Landscape LLC(#)38575 Kost Trail, North Branch, MN 55056Administrative and Support ServicesTerm LoanPrime plus 2.75%2/28/203214.7 14.7 13.0 — %
Jason Watt Pictures, LLC.(#)110 Broadway , Brooklyn, NY 11249Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%2/25/203211.0 11.0 9.7 — %
Grey Enterprises LLC(#)1035 Pine Ave, Union, NJ 07083Educational ServicesTerm LoanPrime plus 2.75%2/25/203214.7 14.7 12.9 — %
Sunny Deals LLC(#)757 E Lewis and Clark Pkwy, Clarksville, IN 47129Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/25/203273.6 73.6 68.0 0.02 %
Action Lock and Key LLC(#)18428 N 32nd Dr, Phoenix, AZ 85053Repair and MaintenanceTerm LoanPrime plus 2.75%2/25/20327.4 7.4 6.5 — %
Fisher Custom Carpentry(#)79 Longwood Dr, Portland, ME 04102Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/25/203214.4 14.4 12.7 — %
Northern Block Cortland LLC(#)38 Scammell St, Cortland, NY 13045Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%2/24/20329.3 9.3 8.1 — %
Howell Chiropractic Center, PLLC(#)975 Riverbend Rd, Frankfort, KY 40601Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/24/203222.1 22.1 20.0 0.01 %
21st Century Living LLC(#)637 Violet Ave, Hyde Park, NY 12538Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/24/2047108.3 108.3 111.5 0.03 %
KAAST Machine Tools Inc(#)3 Merion Terrace, Aldan, PA 19018Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/24/2032196.4 196.4 190.8 0.05 %
Titheotokos, LLC(#)1995 US-1, Vero Beach, FL 32960Health and Personal Care Stores Term LoanPrime plus 2.75%7/24/2047239.0 239.0 261.4 0.07 %
 J.D Towing LLC(#)1122 E Michigan Ave, Ypsilanti, MI 48198Support Activities for TransportationTerm LoanPrime plus 2.75%6/24/2032205.8 205.8 180.7 0.05 %
33
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

CFB Labor Solutions LLC(#)3330 Jack RD STE B, Clayton, NC 27520Administrative and Support ServicesTerm LoanPrime plus 2.75%2/24/203285.9 85.9 90.4 0.02 %
Puget Sound Plastering LLC(#)19104 Des Moines Memorial Dr, SeaTac, WA 98148Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/24/203216.2 16.2 14.2 — %
PlantBased Innovations LLC(#)320 Hamilton St, Leominster, MA 01453Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%2/23/2032939.6 939.6 856.5 0.22 %
IMO GLOW LLC dba IMO Cosmetic Dermatology(#)55 SE 6 St, Miami, FL 33131Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/23/203249.1 49.1 43.3 0.01 %
Red-Cap Industrial LLC(#)3314 GA-24, Waynesboro, GA 30830Construction of BuildingsTerm LoanPrime plus 2.75%2/23/203290.2 90.2 82.0 0.02 %
Prepster Brands LLC(#)401 McCalmont Rd, Renfrew, PA 16053Publishing Industries (except Internet)Term LoanPrime plus 2.75%2/23/20329.3 9.3 8.1 — %
Destined BJJ LLC(#)33390 Barmetta Ln, Temecula, CA 92592Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/23/203214.1 14.1 12.3 — %
The Refined RN LLC(#)7 Kimball Ln, Lynnfield, MA 01940Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/23/20327.4 7.4 6.5 — %
530 Strength & Conditioning(#)629 Entler Ave, Chico, CA 95928Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/22/20327.4 7.4 6.5 — %
Electronics Row LLC(#)10601 W Interstate 70 Frontage Rd N, Wheat Ridge, CO 80033Nonstore Retailers Term LoanPrime plus 2.75%2/22/2032245.5 245.5 215.2 0.05 %
Icebox Café L.C(#)219 NE 3rd St, Hallandale Beach, FL 33009Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/22/203243.0 43.0 37.7 0.01 %
Sound Track USA LLC(#)6309 NW 99th Ave, Doral, FL 33178Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/22/203251.6 51.6 46.2 0.01 %
Sherwood Hospitality Group LLC and Sherwood Walker Properties LLC(#)5404 Hoover Blvd, Tampa, FL 33634Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/22/20471,245.0 1,245.0 1,405.7 0.36 %
Mike N Jac Enterprises, Inc. dba Batteries Plus(#)115 Fairview Rd, Unit 8, Ellenwood, GA 30294Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/22/203294.5 94.5 84.3 0.02 %
Easy Touch Personal Home Care(#)89 Stallion Way, Hiram, GA 30141Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/22/204787.2 87.2 94.7 0.02 %
NBR Group LLC(#)1068 Pontiac Rd, Drexel Hill, PA 19026Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/22/203222.1 22.1 19.9 0.01 %
Kinly Signs, Inc(#)2485 County Rd 1, South Point, OH 45680Miscellaneous ManufacturingTerm LoanPrime plus 2.75%2/22/203267.5 67.5 59.2 0.02 %
Blessing Hands Home Care LLC(#)610 N Jackson St, Raymore, MO 64083Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/22/203214.7 14.7 13.0 — %
A&RS CPR LLC dba CPR Cell Phone Repair Beaverton(#)3905 SW 117th Ave, Oregon City, OR 97045Repair and MaintenanceTerm LoanPrime plus 2.75%2/22/203253.0 53.0 55.9 0.01 %
Mack Thornton Logistics LLC dba The UPS Store(#)300 A Ave Building 1605, Fort Lee, VA 23801Administrative and Support ServicesTerm LoanPrime plus 2.75%6/22/203238.3 38.3 33.8 0.01 %
Temecula Electrical Supply Inc(#)41992 Avenida Alvarado, Temecula, CA 92590Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/18/2032122.7 122.7 121.7 0.03 %
Flavor Junction LLC(#)5 Karbe Pl, Dix Hills, NY 11746Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/18/203214.1 14.1 13.0 — %
34
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Black Phoenix Enterprises LLC(#)228 Park Ave S, New York, NY 10003Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%2/18/203214.7 14.7 15.2 — %
Wbe line services, LLC(#)437 Twining Ford Rd, Richboro, PA 18954Administrative and Support ServicesTerm LoanPrime plus 2.75%2/18/2032270.8 270.8 237.5 0.06 %
Mr and B Snacks Inc(#)1391 Clay St, Elmont, NY 11003Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%2/18/2032147.3 147.3 129.1 0.03 %
Unlimited Communication, Inc(#)1238 E Beamer St, Ste A, Woodland, CA 95776TelecommunicationsTerm LoanPrime plus 2.75%2/18/20321,229.2 1,229.2 1,121.1 0.28 %
Donald Patton dba Splash N' Go(#)3367 Hwy 48 N, Charlotte, TN 37036Repair and MaintenanceTerm LoanPrime plus 2.75%2/18/204785.9 85.9 96.9 0.02 %
MAIC Operations Corp(#)2145 Couty Rd 39, Southampton, NY 11968Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%2/18/2032208.6 208.6 220.2 0.06 %
Hillside Kitchens Inc.(#)345 Hillside Ave Ste C, Williston Park, NY 11596Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/18/203270.5 70.5 61.9 0.02 %
Enchanted Jewelry CT LLC & Keith and St George Enterprises, LLC(#)26 Tanglewood Dr, Preston, CT 06365Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%2/17/204782.4 82.4 86.7 0.02 %
Liberty Lane Stables LLC(#)N5090 Bowers Rd, Elkhorn, WI 53121Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%2/17/2047174.3 174.3 190.3 0.05 %
Brooklyn Cannery LLC(#)145 12th St, Brooklyn, NY 11215Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/17/203255.2 55.2 54.6 0.01 %
J R Bolton Services, Inc and My Guy Heating & Air Conditioning Inc(#)160 Peachtree Industrial Blvd, Sugar Hill, GA 30518Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/17/2032147.3 147.3 129.6 0.03 %
4MAS Grooming Inc(#)148 Burnetts Way, Suffolk, VA 23434Nonstore Retailers Term LoanPrime plus 2.75%2/17/203285.9 85.9 75.3 0.02 %
FAVIS USA INC(#)5321 Perimeter Pkwy, Montgomery, AL 36116Machinery ManufacturingTerm LoanPrime plus 2.75%2/16/203246.5 46.5 46.5 0.01 %
Commercial Properties R US LLC(#)3800 Inverrary Blvd, Lauderhill, FL 33319Real EstateTerm LoanPrime plus 2.75%2/16/203215.2 15.2 13.7 — %
Tidal commerce Inc(#)2100 Clearwater Dr, Oak Brook, IL 60523Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%2/16/2032286.0 286.0 250.7 0.06 %
Phat Patrick Tran Winfield Kenny Auto Service(#)3637 Snell Ave, San Jose, CA 95136Repair and MaintenanceTerm LoanPrime plus 2.75%2/16/203219.1 19.1 16.9 — %
Behr Enterprise Solutions LLC(#)110 Garren Rd, Belton, SC 29627Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/15/203222.1 22.1 21.8 0.01 %
Spickard Agency LLC(#)6874 Reinhardt College Pkwy, Waleska, GA 30188Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%2/14/203222.1 22.1 19.4 — %
Apple Spider LLC dba The Huntsman & Renninger Properties LLC(#)4923 Buck Lake Rd, Tallahassee, FL 32317Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/14/2047250.0 250.0 274.6 0.07 %
GET CLEAN SERVICES LLC(#)4100 W Eldorado Pkwy STE 100-64, McKinney, TX 75070Administrative and Support ServicesTerm LoanPrime plus 2.75%2/14/20321,229.2 1,229.2 1,083.8 0.27 %
Initium health(#)1401 Wewatta St, Wheat Ridge, CO 80202Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/14/2032326.5 326.5 286.3 0.07 %
35
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Faza Contractors Inc.(#)798 Prairie Rd, West Palm Beach, FL 33406Construction of BuildingsTerm LoanPrime plus 2.75%2/14/203214.7 14.7 12.9 — %
GREEN COPPERFIELD LLC(#)7730 Pinemont Dr, Houston, TX 77040Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%2/11/2032147.3 147.3 129.1 0.03 %
JOSEPH COSTA dba COSTA AG COMPLIANCE(#)27912 Cooperstown Rd, La Grange, CA 95329Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%2/11/203210.3 10.3 9.0 — %
William R Kretzer LLC(#)10375 Park Meadows Dr, Lone Tree, CO 80124Real EstateTerm LoanPrime plus 2.75%2/11/203211.6 11.6 10.2 — %
Yachting Solutions LLC(#)229 Commercial St, Rockport, ME 04856Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%2/11/2032143.6 143.6 139.2 0.04 %
AJ Benavidez Inc dba The Camp Transformation Center(#)417 Unity Court, Roseville, CA 95678Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/11/203258.9 58.9 52.6 0.01 %
DA VINCI FILMS LLC dba MEATPACKING PRODUCTIONS(#)2813 Palisade Ave, Union City, NY 07087Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%2/11/203285.9 85.9 75.3 0.02 %
NaSH Lifestyle LLC(#)123 Emery St, Hempstead, NY 11550Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/11/204787.2 87.2 98.4 0.02 %
Homescapes LLC(#)170 Kehle Rd, Madison, MS 39110Administrative and Support ServicesTerm LoanPrime plus 2.75%2/10/203264.6 64.6 56.9 0.01 %
589 11th Tavern Inc.dba MCQUAIDS PUBLIC HOUSE(#)589 11th Ave, New York, NY 10036Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/10/203214.7 14.7 12.9 — %
BSRR LLC(#)400 N McKinney St, Mexia, TX 76667Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/9/2032143.6 143.6 131.8 0.03 %
Tatum Global Services LLC(#)8097 Sudley Rd, Manassas, VA 20109Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/9/2032140.8 140.8 127.0 0.03 %
Safetypawz LLC(#)11110 Sunset Hills Rd, Reston, VA 20195Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/9/2032110.5 110.5 96.8 0.02 %
ERA SOLUTIONS, LLC(#)2824 Progressive Dr, Edmond, OK 73034Educational ServicesTerm LoanPrime plus 2.75%2/9/203231.0 31.0 27.2 0.01 %
Redwell Enterprises LLC(#)417 Red Well Rd, New Holland, PA 17557Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/9/203280.7 80.7 71.5 0.02 %
Sacred Space Midwifery, LLC(#)16050 Wayne St, Union, MI 49130Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/7/204746.1 46.1 50.4 0.01 %
Element RCM, LLC(#)8354 Northfield Blvd, Ste 300, Denver, CO 80238Administrative and Support ServicesTerm LoanPrime plus 2.75%2/7/203270.9 70.9 62.2 0.02 %
Lee Phamily Group, LLC dba Nothing Bundt Cakes(#)701 N Milwaukee Ave, Vernon Hills, IL 60061Food and Beverage Stores Term LoanPrime plus 2.75%2/4/2032187.8 187.8 167.0 0.04 %
JayJs Zone LLC dba Wing Zone(#)1860 Front St, East Meadow, NY 11554Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/4/20327.1 7.1 6.2 — %
Satsuma Resources LLC dba Triumph International(#)22 N Bardsbrook Circle, Ste 201, Spring, TX 77382Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/4/203277.3 77.3 68.0 0.02 %
Coffee Sales LLC(#)85 N Gould St Ste 400, Sheridan, WY 82801Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/4/203211.5 11.5 10.1 — %
Neuline Health Management LLC(#)1402 S Custer Rd, McKinney, TX 75072Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/4/2032638.2 638.2 589.5 0.15 %
36
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

GUY HANCOCK INVESTMENTS, INC.dba GUY'S AIR CONDITIONING & HEATING(#)19917 FM 1485 Rd, New Caney, TX 77357Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/3/203251.5 51.5 45.2 0.01 %
James Hercey dba East River Armament(#)274 Chapelview Rd, Bluefield, WV 24701Nonstore Retailers Term LoanPrime plus 2.75%2/2/203215.8 15.8 13.9 — %
Third Coast Parasail Company(#)1237 N Stingaree Dr, Crystal Beach, TX 77650Educational ServicesTerm LoanPrime plus 2.75%2/2/204766.2 66.2 72.5 0.02 %
Tasker Healthcare Group P.C.(#)910 E Willow Grove Ave, Wyndmoor, PA 19038Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/31/203289.0 89.0 88.2 0.02 %
BITM Legacy LLC dba 911 Restoration of San Antonio(#)8839 Feather Trail, Helotes, TX 78023Construction of BuildingsTerm LoanPrime plus 2.75%1/31/203217.3 17.3 15.6 — %
Pernicano Enterprises Inc(#)1138 S Rio Vista Blvd, Fort Lauderdale, FL 33316Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/31/203265.8 65.8 57.7 0.01 %
JG Beauty Group Inc dba SUGARINGNYC DALLAS(#)11617 Coral Hills Dr, Dallas, TX 75229Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/30/203295.0 95.0 83.5 0.02 %
The Natural Place Medspa Inc and The Natural Place Property Management(#)11975 Main St, Broomfield, CO 80020Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/31/204782.8 82.8 87.7 0.02 %
Arcas Machine Inc(#)700 N Neely St, Gilbert, AZ 85233Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%1/31/2032170.7 170.7 149.7 0.04 %
Change Inc,Turning Leaf Agency Inc,Change Meadowbrook Manor Inc(#)1251 South Main St, Middletown, CT 06457Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/31/203269.9 69.9 67.4 0.02 %
Tasker Healthcare Group, P.C.and Cleotomarie, LLC(#)910 E Willow Grove Ave, Wyndmoor, PA 19038Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/31/2047323.2 323.2 364.9 0.09 %
ALTAMAHA DME INC(#)477 S 1st St, Jesup, GA 31545Health and Personal Care Stores Term LoanPrime plus 2.75%1/28/203271.5 71.5 70.7 0.02 %
Apex Grading Inc(#)3156 Gloria Ter, Layfayette, CA 95429Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/28/2032243.9 243.9 213.8 0.05 %
Cutone & Company Consultants, LLC(#)43 W 33rd St, New York, NY 10001Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/28/20471,248.6 1,248.6 1,375.8 0.35 %
Sims Management Services LLC(#)2905 Eastern Willow Ave, Orlando, FL 32808Nonstore Retailers Term LoanPrime plus 2.75%1/28/203214.6 14.6 12.8 — %
Choice Care Learning Centers Inc(#)123 Park Ln Dr, Rutherfordton, NC 28139Social AssistanceTerm LoanPrime plus 2.75%4/28/204780.0 80.0 89.3 0.02 %
LR Greenview LLC dba Teaspoon(#)2977 Ygnacio Valley Rd, Walnut Creek, CA 94598Food and Beverage Stores Term LoanPrime plus 2.75%1/27/203238.2 38.2 34.1 0.01 %
TAMARIND LEARNING INC(#)20283 FL-7, Boca Raton, FL 33498Educational ServicesTerm LoanPrime plus 2.75%1/27/2032317.1 317.1 278.0 0.07 %
TeugByeolHan Licensed Clinical Social Worker Inc(#)1611 S Pacific Coast Hwy, Redondo Beach, CA 90277Social AssistanceTerm LoanPrime plus 2.75%1/26/20328.5 8.5 7.4 — %
S&W Sales and Service LLC(#)240 Industrial Park Rd, Fort Valley, GA 31030Construction of BuildingsTerm LoanPrime plus 2.75%1/26/2032134.1 134.1 130.6 0.03 %
K&A Automotive Inc(#)2070 Nooseneck Hill Rd, Coventry, RI 02816Gasoline Stations Term LoanPrime plus 2.75%5/26/204756.1 56.1 63.4 0.02 %
37
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

1st Star Alacer LLC(#)2251 Dehne Rd,, Northbrook, IL 60062Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/25/203214.6 14.6 12.8 — %
Shauna Roberts Licensed Marriage Family Therapist(#)2270 Douglas Blvd, Roseville, CA 95661Social AssistanceTerm LoanPrime plus 2.75%1/24/203214.6 14.6 13.1 — %
Normandie Eateries Inc(#)10111 Normandie Ave, Los Angeles, CA 90044Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/21/2032122.0 122.0 107.2 0.03 %
Kynytyx Inc.(#)990 Station Rd, Bellport, NY 11713Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%1/21/2032109.7 109.7 104.0 0.03 %
Treehouse Enterprises, Inc. dba Graze Craze(#)100 Cote Ave, Chicopee, MA 01020Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/203219.4 19.4 17.5 — %
CJAUTOPROS L.L.C.(#)943 Asheville Ave, Apt 207, Fort Mill, SC 29708Nonstore Retailers Term LoanPrime plus 2.75%1/21/20325.9 5.9 5.2 — %
Strive Design Inc dba Fully Promoted(#)22221 Palos Verdes Blvd, Torrance, CA 90505Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/21/203256.1 56.1 49.2 0.01 %
Better Care Homes LLC(#)26677 W. 12 Mile Rd, Southfield, MI 48034Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/21/203261.0 61.0 53.5 0.01 %
KILTED BUILDERS, LLC dba KILTED HOME REPAIR(#)42 Stonehenge Dr, Henniker, NH 03242Construction of BuildingsTerm LoanPrime plus 2.75%1/21/20327.3 7.3 6.4 — %
Maverick Well Service LLC(#)300 Farm to Market Rd 1252 E, Kilgore, TX 75662Support Activities for MiningTerm LoanPrime plus 2.75%1/20/20321,219.4 1,219.4 1,186.2 0.30 %
LOOK AD ME LLC(#)9208 Ansel, Irvine, CA 92618Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/20/20324.7 4.7 4.7 — %
TruYou Aesthetics LLC(#)3493 Rankin Ferry Loop, Louisville, TN 37777Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/20/203219.8 19.8 17.3 — %
Wibaux Industries, L.L.C. dba Wibaux General Store(#)121 Wibaux St, Wibaux, MT 59353Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%1/19/203215.1 15.1 16.0 — %
Vines & Bines, LLC dba Vintage Views Bar(#)515 Owens Way, Severna Park, MD 21146Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/19/203211.2 11.2 9.9 — %
Astrodynamic Wines, LLC dba Oceano Wines(#)485 Morro Bay Blvd, Morro Bay, CA 93442Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%1/19/203222.0 22.0 19.7 — %
MNJR0912 Inc dba HOTWORX(#)2703 East Broadway , Columbia, MO 65201Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/19/203230.6 30.6 29.9 0.01 %
Elizabeth Heil dba Harmony Hair Design(#)244 West Main St, Ste 2, Goshen, NY 10924Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/18/20325.8 5.8 5.0 — %
Gs Chips inc(#)1010 4th St. SE, Canton, OH 44707Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%1/18/203272.4 72.4 64.4 0.02 %
11th Avenue, Inc.f/k/a Groopville Inc; Groopdealz, LLC and Grizzly(#)2728 E14th North, Idaho Falls, ID 83401Nonstore Retailers Term LoanPrime plus 2.75%1/14/2047194.9 194.9 200.9 0.05 %
Fulton Beer Hall LLC dba Fulton Hall(#)250 Ashland Pl, Brooklyn, NY 11217Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/14/203211.3 11.3 9.9 — %
Creek Outdoors LLC dba Creek Archery(#)114 McGrogan Rd, Ruffs Dale, PA 15679Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%1/14/203240.7 40.7 35.7 0.01 %
38
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Equestrian Services International, LLC(#)1261 F Rd, Loxahatchee, FL 33470Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/13/203269.8 69.8 61.3 0.02 %
Elite Roofing LLC(#)3600 Chamberlain Ln, Louisville, KY 40241Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/13/203213.2 13.2 11.5 — %
Prime Way USA LLC dba Primeway Wood(#)3700 NW 124th Ave, Unit #137, Coral Springs, FL 33065Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%1/13/203285.4 85.4 74.8 0.02 %
Concord Technologies Inc(#)4635 SE 44th Ave, Portland, OR 97206Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/12/203257.1 57.1 50.0 0.01 %
HPT SOLUTIONS, INC.(#)1215 Lake Rise Overlook, Gallatin, TN 37066Truck TransportationTerm LoanPrime plus 2.75%1/12/203236.6 36.6 32.1 0.01 %
Atlas Tr Inc dba Atlas General Construction(#)36391 Haley St, Newark, CA 94560Construction of BuildingsTerm LoanPrime plus 2.75%1/12/203261.0 61.0 55.2 0.01 %
Matthew McDonough dba Changing Gearz(#)161 Main St, West Newbury, MA 01985Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%1/6/20327.9 7.9 7.4 — %
Clinical Assessment Group, LLC(#)4801 Lang Ave NE, Albuquerque, NM 87109Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/6/20324.4 4.4 3.8 — %
OPC Group LLC(#)45 Irving Ave, Brooklyn, NY 11237Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%1/5/203219.8 19.8 17.7 — %
Life at the Beach LLC dba Garra Spa(#)5675 N Atlantic Ave, Cocoa Beach, FL 32931Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/4/203236.8 36.8 32.9 0.01 %
3815 Media, Inc.(#)3201 Peachtree Corners Circle, Peachtree Corners, GA 30092Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/30/2031360.9 360.9 375.8 0.10 %
Kosovar Corporation dba La Vista Ristorante Italiano(#)355 Smith Ridge Rd, South Salem, NY 10590Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/29/2046337.9 337.9 371.4 0.09 %
Belcher's Electric LLC(#)138 Dorchester St, Greenwood, SC 29646Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/203119.6 19.6 17.1 — %
Clean Pro 1, LLC(#)385 Boston Post Rd, Orange, CT 06477Construction of BuildingsTerm LoanPrime plus 2.75%5/29/204798.0 98.0 110.2 0.03 %
Calderon Insurance Agency dba California Liberty Insurance(#)5127 Franklin Blvd, #3, Sacramento, CA 95820Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/29/2046179.8 179.8 188.3 0.05 %
Arclight Industries LLC(#)340 Quail Run Rd,, Venetia, PA 15367Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/29/204637.2 37.2 40.4 0.01 %
Lillie Mae's Place LLC(#)57 Main St, East Haven, CT 06512Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/29/204698.3 98.3 102.8 0.03 %
Happy Wheels Charter LLC(#)4 Old Elm St, Salusbury, MA 01952Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/29/2046178.7 178.7 194.2 0.05 %
Henry J Fishman MVPC(#)2021 K St Ste 400 NW, Washington, DC 20006Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/29/2031327.1 327.1 287.2 0.07 %
3 Generations LLC(#)2800 Baton Rouge Rd, Williamstown, KY 41097Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/2032139.1 139.1 121.5 0.03 %
Inspired Education 2 LLC dba Happy Days 2(#)221 Edinburg Rd, Mercerville, NJ 08619Social AssistanceTerm LoanPrime plus 2.75%12/29/2046248.2 248.2 254.8 0.06 %
39
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Altitude Roofing LLC(#)2909 N Tindle Blvd, Flagstaff, AZ 86004Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/203177.5 77.5 66.7 0.02 %
CPH Milpitas LLC dba Curry Pizza House(#)1806 Milmont Dr, Milpitas, CA 95035Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/29/203184.8 84.8 73.4 0.02 %
Champion Volleyball Club of Houston LLC(#,^)19418 Pinehurst Trail Dr, Humble, TX 77346Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/29/2046160.3 160.3 171.1 0.04 %
Monticello Corporation dba Reid Super Save Market #3 and Millclem(#)600 Preston Ave, Charlottesville, VA 22903Food and Beverage Stores Term LoanPrime plus 2.75%12/29/203167.8 67.8 71.1 0.02 %
Beyond the Numbers CPAs Inc(#)1004 Lewis Ave, Billings, MT 59102Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/2046139.0 139.0 149.7 0.04 %
NORTHCOMM LLC dba RFS Construction(#)213 Cascade View Court, East Wenatchee, WA 98802Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/203184.5 84.5 72.7 0.02 %
The Dance Affair, Inc(#,^)850 N Winchester Blvd, San Jose, CA 95128Educational ServicesTerm LoanPrime plus 2.75%12/29/20317.8 7.8 6.8 — %
Hacienda Car Wash Inc.(#)2400 S Goliad St, Rockwall, TX 75032Repair and MaintenanceTerm LoanPrime plus 2.75%12/29/204651.6 51.6 56.5 0.01 %
Salon Sora LLC and Frank Marino(#)1675 North Military Trail, Boca Raton, FL 33433Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/29/203183.8 83.8 72.2 0.02 %
Pole Dance Carolinas LLC dba PoleFit Carolinas(#)9826 Gilead Rd, C -200, Hunterville, NC 28078Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/29/203140.0 40.0 34.4 0.01 %
Eastern Aero Marine, Inc, dba EAM Worldwide(#)5502 NW 37th Ave, Miami, FL 33142Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/29/20461,240.9 1,240.9 1,393.3 0.35 %
High Q Automotive Consulting andRide 4 U LLC(#)747 N State Rd 7, Plantation, FL 33317Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/29/20461,240.8 1,240.8 1,321.2 0.33 %
RV'S-4-Less dba RV Liquidation Center(#)984 W Shaw Ave, Clovis, CA 93612Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/29/2031335.5 335.5 301.8 0.08 %
Nova Engineering Inc(#)4373 Viewridge Ave, Ste A, San Diego, CA 92123Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/203148.5 48.5 41.7 0.01 %
The Queen Ready Mix, Inc.(#)8702 Liberty Rd, Houston, TX 77028Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%12/29/2031487.0 487.0 456.8 0.12 %
Hacienda Car Wash Inc.(#)2400 S Goliad St, Rockwall, TX 75087Repair and MaintenanceTerm LoanPrime plus 2.75%12/29/20319.7 9.7 9.6 — %
Bright Horizons Preschool, LLC(#)275 Enterprise Dr, Valdosta, GA 31601Social AssistanceTerm LoanPrime plus 2.75%12/29/2046218.6 218.6 235.6 0.06 %
Unique Surveillance LLC and Fast Guard Service Worldwide, LLC(#)925 South 21st Ave, Hollywood, FL 33020Administrative and Support ServicesTerm LoanPrime plus 2.75%12/28/20311,189.4 1,189.4 1,046.7 0.27 %
Freedom Construction LLC(#)2897 E Massengale Rd, Shelbyville, IN 46176Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/28/203110.5 10.5 9.8 — %
CS Concept Holdings, LLC and CS Holdings 409 South Main, LLC(#)4350 Canada Rd, :, Lakeland, TN 38002Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/28/203146.5 46.5 40.3 0.01 %
Lotus Care LLC(#)14000 Sunfish Lake Blvd, NW, MN 55303Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/28/203121.8 21.8 18.8 — %
40
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Shieldcoat Technologies Inc(#)308 Ellen Trout Dr, Lufkin, TX 75904Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%12/28/2046732.1 732.1 822.0 0.21 %
Colorado Avocado LLC dba Toastique(#)11590 Ridgeline Dr, Colorado Springs, CO 80921Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/2032167.5 167.5 146.5 0.04 %
Alaska Demolition, LLC(#)2817 Rampart Dr, Anchorage, AK 99501Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/20461,240.9 1,240.9 1,393.3 0.35 %
The Beginning Zone(#)13709 S. Wilkie Ave, Gardena, CA 90249Social AssistanceTerm LoanPrime plus 2.75%12/23/2046188.6 188.6 202.3 0.05 %
Nyssa Mercantile, LLC(#,^)119 Main St, Nyssa, OR 97913Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/23/204641.7 41.7 44.2 0.01 %
PKLoop Peer LLC(#,^)1051 Kaylie St, Grand Prairie, TX 75052Health and Personal Care Stores Term LoanPrime plus 2.75%12/23/203121.8 21.8 20.0 0.01 %
Sk8 House Virginia Beach LLC(#)600 Lynnhaven Pkwy, Virginia Beach, VA 23452Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/23/203115.3 15.3 13.1 — %
Nyssa Mercantile LLC(#)119 Main St, Nyssa, OR 97913Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/23/203155.7 55.7 51.0 0.01 %
M-23 Mechanical Systems(#,^)2974 Betsy Way, San Jose, CA 95133Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/23/203156.9 56.9 48.9 0.01 %
Outdoor Equipment Manufacturer, LLC(#)3520 NW 51st St, Miami, FL 33142Textile Product MillsTerm LoanPrime plus 2.75%12/23/203190.8 90.8 95.0 0.02 %
Riaz and Son Inc and Uddin Family Realty(#)100-15 94th Ave, Ozone Park, NY 11416Food and Beverage Stores Term LoanPrime plus 2.75%12/23/2046144.2 144.2 161.7 0.04 %
LDI Energy Services, LLC(#)6519 103 West Ave, Tioga, ND 58852Support Activities for MiningTerm LoanPrime plus 2.75%12/22/2046271.3 271.3 293.9 0.07 %
Plantation Shutter Co Inc(#)11704 Wilshire Blvd, Los Angeles, CA 90275Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/22/203184.8 84.8 72.9 0.02 %
Rana N. Hassan, M.D P.C(#)71 Franklin Ave, Franklin Square, NY 11010Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/2031110.5 110.5 96.0 0.02 %
Kinly Signs Corporation(#)2485 County Rd 1, South Point, OH 45680Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/22/2046296.6 296.6 304.4 0.08 %
Scott Hollingsworth Equipment Company(#)17621 Perkins Rd, Baton Rouge, LA 70810Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/22/203163.7 63.7 66.7 0.02 %
The Handyman Clarksville, LLC(#)2727 Union Hall Rd, Clarksville, TN 37040Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/22/2031181.7 181.7 190.1 0.05 %
Mobile Bottling Source LLC(#)611 Green Sage Way, las Vegas, NV 89138Administrative and Support ServicesTerm LoanPrime plus 2.75%12/22/2031181.7 181.7 160.2 0.04 %
C&C Contracting(#)10620 Southern Highlands Pkwy, Las Vegas, NV 89141Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/22/203161.2 61.2 52.6 0.01 %
LDI Energy Services, LLC dba LDI Excavation(#)6519 103 West Ave, Tioga, ND 58852Support Activities for MiningTerm LoanPrime plus 2.75%12/22/2031318.1 318.1 291.3 0.07 %
HHLM LLC(#)535 Shawmut Ave, Boston, MA 02118Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/22/203113.6 13.6 11.8 — %
BYC - La Quinta LLC dba Broken Yolk Cafe(#)78430 CA-111, La Quinta, CA 92253Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/22/2046566.2 566.2 606.4 0.15 %
41
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Mercury Pharmacy Corporation(#)480 Chadbourne Rd, Fairfield, CA 94534Health and Personal Care Stores Term LoanPrime plus 2.75%12/21/2031181.0 181.0 155.6 0.04 %
360 GRIP AND ELECTRIC LLC and Julien Janigo(#,^)3500 Eagle Rock Blvd, Los Angeles, CA 90065Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/21/203179.9 79.9 71.6 0.02 %
Yours II Cosmetology Academy Inc(#)1416 W Columbia Ave, Battle Creek, MI 49015Educational ServicesTerm LoanPrime plus 2.75%12/21/2047823.8 823.8 925.3 0.23 %
QUICK DROP IMPOUNDING, TOWING & RECOVERY, INC(#)2565 Lake Rockaway Rd SW, Conyers, GA 30012Support Activities for TransportationTerm LoanPrime plus 2.75%12/21/2046146.2 146.2 164.0 0.04 %
Alaska Industrial Paint, LLC and Endeavor Properties LLC(#)1301 North Post Rd, Anchorage, AK 99501Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/21/204725.0 25.0 28.1 0.01 %
Inobe LLC dba BLD2GO(#,^)1146 W Buckeye Rd, Phoenix, AZ 85007Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/21/204697.8 97.8 100.7 0.03 %
Storm Trooper Transportation Corp(#)2205 W Highland Ave, San Bernardino, CA 92407Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2031762.3 762.3 660.9 0.17 %
Lauren Taylor Beauty LLC dba Evolution Body Works(#)195 E 4th St Ste 10, Long Beach, CA 90802Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/21/203176.5 76.5 71.1 0.02 %
Storm Trooper Transportation Corp(#)2205 W Highland Ave, San Bernardino, CA 92407Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2046455.5 455.5 496.7 0.13 %
Regal Express Corporation(#)4122 County Rd 516, Matawan, NJ 07747Truck TransportationTerm LoanPrime plus 2.75%12/20/2031130.0 130.0 111.7 0.03 %
Robo-Breaking New York Inc(#)302A W 12th St, New York, NY 10014Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2031290.7 290.7 301.1 0.08 %
Nextstep Counseling Services, LLC(#)1707 Linwood Dr, Paragould, AR 72450Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/20/203130.1 30.1 25.8 0.01 %
Unlimited Investors Group, Inc.(#)252 Aster Place, Hampstead, NC 28443Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/20/2031363.4 363.4 312.2 0.08 %
First Lone Star Pharmacy Group LLC(#)6901 Preston Rd, Dallas, TX 75205Health and Personal Care Stores Term LoanPrime plus 2.75%12/20/2031121.5 121.5 104.5 0.03 %
Vidya Technologies LLC(#,^)2509 George Mason Dr, Virginia Beach, VA 23456Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/20/20317.7 7.7 6.6 — %
Theramove & Diagnostics LLC(#,^)110 West Rd, Towson, MD 21204Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/20/20318.5 8.5 8.3 — %
First Lone Star Pharmacy Group II, LLC dba Trinity Pharmacy(#)1925 East Rosemeade Pkwy, Carrollton, TX 75007Health and Personal Care Stores Term LoanPrime plus 2.75%12/20/2046137.9 137.9 140.0 0.04 %
LA TAQUERIA INC(#)10 Greenwich Ave, GREENWICH, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/2032160.1 160.1 140.6 0.04 %
MR3 LLC dba dba Union Fence(#)1340 Hartford Ave, Johnston, RI 02919Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/17/2046332.6 332.6 365.2 0.09 %
Venture Coffee Company, LLC dba Venture Roastery(#)13406 W Center Dr, Lakewood, CO 80228Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/17/203119.8 19.8 17.1 — %
Maxwell, Hendry & Simmons LLC(#,^)1619 Jackson St, Fort Myers, FL 33901Real EstateTerm LoanPrime plus 2.75%12/17/2031147.8 147.8 127.0 0.03 %
42
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

SoCal Propane LLC(#)220 N San Jacinto St, Hemet, CA 92543Nonstore Retailers Term LoanPrime plus 2.75%12/17/2031329.5 329.5 344.7 0.09 %
Ponce & Ponce, Inc(#)3015 NW 74th Ave, Miami, FL 33122Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/17/203172.7 72.7 62.4 0.02 %
Logo Concepts LLC(#,^)1265 W 1275 North #2, Centerville, UT 84014Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%12/17/2031343.0 343.0 296.7 0.08 %
Invisishield, L.L.C(#)6120 Louetta Rd, Houston, TX 77379Repair and MaintenanceTerm LoanPrime plus 2.75%12/17/203136.3 36.3 31.4 0.01 %
Leedann Properties LLC(#)534 Mill St SE, Gainesville, GA 30501Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/17/2046247.0 247.0 254.6 0.06 %
Brooker Construction LLC dba Sampson Tree Service(#)2170 SW Conant Ave, Port St. Lucie, FL 34953Administrative and Support ServicesTerm LoanPrime plus 2.75%12/17/2031260.0 260.0 229.7 0.06 %
VENDALL VENTURES LLC(#)25027 South Interstate, WaKeeney, KS 67672AccommodationTerm LoanPrime plus 2.75%12/17/2046272.5 272.5 291.1 0.07 %
SEC LLC(#)4470 Sunset Blvd, Los Angeles, CA 90027Utilities Term LoanPrime plus 2.75%12/16/203169.8 69.8 59.9 0.02 %
Milson Restaurants LLC dba El Chico Granbury(#)1151 E US Hwy 377, Ste #110, Granbury, TX 76048Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/203173.2 73.2 62.9 0.02 %
LGB Tax and Accounting LLC dba Loretta GriefBarbaro EA(#,^)2944 Valentine Pl, Wantagh, NY 11793Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/16/2046110.7 110.7 122.1 0.03 %
JMJ Sales Group LLC(#)210 S. Linn Ave.,, Wentzville, MO 63385Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/16/203148.4 48.4 43.7 0.01 %
Sivalingam Medical Corporation, Inc dba First Valley Medical Group(#)44725 10th St W, Ste 210, Lancaster, CA 93534Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/16/2031778.6 778.6 669.0 0.17 %
Pool Logic Design and Construction Inc(#,^)277 W Allen Ave, San Dimas, CA 91773Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2031489.1 489.1 420.2 0.11 %
Throop Family Holdings Inc dba Rogue Metal & Supply(#)7130 Crater Lake Hwy, White City, OR 97503Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/16/2031205.9 205.9 189.5 0.05 %
Empowering Families Educational Services(#,^)504 W Baseline Rd, STE A, Glendora, CA 91740Educational ServicesTerm LoanPrime plus 2.75%12/16/20317.3 7.3 6.2 — %
The Great Gatsby Motel Inn Corporation(#)214 County Hwy 152, Northville, NY 12134AccommodationTerm LoanPrime plus 2.75%12/15/204699.3 99.3 110.0 0.03 %
TSM New Beginnings(#)8850 W Sunset Rd, Las Vegas, NV 89148Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/15/203126.2 26.2 22.6 0.01 %
Avtek Integration Services, Inc(#)4733 122nd Ave N., Unit E, Pinellas Park, FL 33762Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/15/203166.6 66.6 62.1 0.02 %
Christopher C Copeland PA(#)8331 SE Royal St, Hobe Sound, FL 33455Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/15/203160.6 60.6 53.6 0.01 %
Aqua Salon and Spa LLC(#)6730 Post Rd, North Kingston, RI 02852Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/15/204680.7 80.7 87.3 0.02 %
Cooks BBQ Products dba Cooks International(#)7 World Trade Center, New York, NY 10006Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/15/2031969.1 969.1 879.1 0.22 %
Quandry Enterprises LLC dba Twinkle Toes Nanny(#,^)1600 E Sunrise Blvd, Fort. Lauderdale, FL 33304Social AssistanceTerm LoanPrime plus 2.75%12/15/20316.5 6.5 5.6 — %
43
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Good Fortune Supermarket (Rhode Island) Corp(#,^)101 Cadillac Dr, Providence, RI 02907Food and Beverage Stores Term LoanPrime plus 2.75%12/15/2031629.9 629.9 640.9 0.16 %
Erin Dewey dba Castle Rock Bakery(#)160 Huntington Ave, Ste A & B, Castle Rock, WA 98611Food ManufacturingTerm LoanPrime plus 2.75%12/14/203145.8 45.8 40.3 0.01 %
First Choice Brokerage Corporation First Choice Strategies LLC(#)822 A1A N, Ponte Vedra Beach, FL 32082Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/14/203161.0 61.0 52.4 0.01 %
CTS MANAGEMENT USA INC(#)17 Marion Ave, Franklin Park, NJ 08823Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/203160.6 60.6 52.0 0.01 %
Smart Wired Services LLC(#)123 McCreary Rd, New Brighton, PA 15066Administrative and Support ServicesTerm LoanPrime plus 2.75%12/14/20317.8 7.8 8.1 — %
Corporate Tax Services, Inc.(#)1250 Broadway 36th Floor, New York, NY 10001Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/203114.5 14.5 12.5 — %
Nicholas Peter Berry dba Nick Berry Production Lighting(#)1081 Hayes Ave, San Diego, CA 92103Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/14/20311.6 1.6 1.5 — %
Sky’s The Limit Yoga Company(#)115 W 25TH St, Norfolk, VA 23517Educational ServicesTerm LoanPrime plus 2.75%12/13/20315.8 5.8 5.0 — %
Momentum Metal Finishing, Inc.(#)1286 Anvilwood Ave, Sunnyvale, CA 94089Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/13/204784.6 84.6 95.1 0.02 %
Lloyd Hardware LLC(#,^)2319 W. Court St, Janesville, WI 53548Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/13/203196.9 96.9 89.5 0.02 %
IV Therapy Management Inc(#)2 Sears Dr, Paramus, NJ 07652Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/13/203229.4 29.4 25.6 0.01 %
EBG Re-Sell LLC(#,^)26943 Ruether Ave, Santa Clarita, CA 91351Nonstore Retailers Term LoanPrime plus 2.75%12/13/20317.3 7.3 6.2 — %
BGF Bobby Q's Inc(#)365 W Sunrise Hwy, Freeport, NY 11520Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/13/2047198.0 198.0 215.8 0.05 %
Nonnos Ice Cream Shoppe Inc(#,^)270 Seabury St, Fall River, MA 02720Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/10/204619.9 19.9 22.3 0.01 %
ANR Insulation , LLC dba King Insulation(#,^)25 N 47th Ave, Phoenix, AZ 85043Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/10/2031484.5 484.5 416.3 0.11 %
Phillips Rental RV, LLC(#,^)5827 Stanida Circle, Holladay, UT 84121Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/10/20319.7 9.7 8.3 — %
Blooms Pharmacy LLC(#,^)16347 Middlebelt Rd, Livonia, MI 48154Health and Personal Care Stores Term LoanPrime plus 2.75%12/10/203125.2 25.2 26.4 0.01 %
Stehlik Service and Tire INC(#,^)2410 N Powers Blvd, Colorado Springs, CO 80915Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/2046116.6 116.6 118.8 0.03 %
Suha Signs LLC dba Signaramaa(#)8211 Byron Center Ave SW, Byron Center, MI 49315Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/9/203229.7 29.7 31.2 0.01 %
Railhead, Inc(#,^)13800 Coppermine Rd, Herndon, VA 20171Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/203133.9 33.9 29.1 0.01 %
Suha Promotions LLC dba Fully Promoted(#)8211 Byron Center Ave SW, Byron Center, MI 49315Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/9/203227.1 27.1 28.5 0.01 %
44
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

NEW FRONTIER INSURANCE AGENCY OF FORT CALHOUN, INC(#,^)510 North 14th, Fort Calhoun, NE 68023Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/9/203115.3 15.3 16.0 — %
Suha Restaurants LLC dba The Great Greek Grill(#)8211 Byron Center Ave SW, Byron Center, MI 49315Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/9/2032100.0 100.0 104.9 0.03 %
World Diamond Source, Inc(#,^)2987 Center Port Circle, Stes 4 & 5, Pompano Beach, FL 33064Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/9/2031193.8 193.8 202.7 0.05 %
Freedom Toast LLC dba Sunrise Diner(#,^)401 N Atlantic Ave, Ocean City, MD 21842Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/8/203118.3 18.3 16.0 — %
Broadway Ethos Holdings, LLC(#,^)218 Elizabeth St, East Jordan, MI 49727AccommodationTerm LoanPrime plus 2.75%12/8/204651.4 51.4 55.0 0.01 %
Myoung & Lee Inc(#,^)10251 Little Brier Creek Ln, Ste 106, Raleigh, NC 27617Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/8/203116.5 16.5 14.2 — %
Clean Energyz LLC(#,^)881 Alma Real Dr, Pacific Palisades, CA 90272Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/8/20461,003.4 1,003.4 1,043.2 0.26 %
Foster the Community LLC(#)13451 and 13453 Fishhawk Blvd, Riverview, FL 33569Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/8/203218.3 18.3 19.2 — %
Wilcompute(#,^)200 W Pondera Ave, Lancaster, CA 93534Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/7/204641.7 41.7 46.8 0.01 %
Sweet Pink’s Creamery LLC dba Sweet Charlies(#)391 Quill Dr, Dawsonville, GA 30534Food ManufacturingTerm LoanPrime plus 2.75%12/7/20316.2 6.2 5.4 — %
Atomic Dog LLC dba Jack's Hard Cider(#,^)1865 Gettysburg Village Dr, Unit 5, Gettysburg, PA 17325Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%12/7/20311,102.3 1,102.3 970.4 0.25 %
Cali Weights LLC(#,^)650 Pressley Rd, Charlotte, NC 28217Nonstore Retailers Term LoanPrime plus 2.75%12/7/203141.2 41.2 35.4 0.01 %
Alley Taco 402, LLC dba Alley Taco 402(#,^)2002 Missouri Ave, Omaha, NE 68107Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/6/204622.3 22.3 23.7 0.01 %
Patsy McCraken(#,^)514 E Main St, Henryetta, OK 74437Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/6/203136.6 36.6 34.4 0.01 %
Mudshark Studios, LLC(#,^)1930 NE Oregon St, Portland, OR 97232Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/6/203114.0 14.0 12.0 — %
HMG Strategy, LLC(#)55 Post Rd West, Westport, CT 06880Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/203184.8 84.8 72.9 0.02 %
BB's Childcare, LLC dba Brilliant Brains Learning Center(#,^)7076 Blondo St, Omaha, NE 68104Social AssistanceTerm LoanPrime plus 2.75%12/3/203114.0 14.0 12.0 — %
Pinnacle Pools, Inc(#,^)20442 Palomar St, Wildomar, CA 92595Administrative and Support ServicesTerm LoanPrime plus 2.75%5/3/203210.2 10.2 8.8 — %
Cliff's Motor Inn, LLC(#,^)4785 Saint Leonard Rd, Saint Leonard, MD 20685AccommodationTerm LoanPrime plus 2.75%12/3/204657.1 57.1 61.1 0.02 %
LEBAT Properties, LLC(#,^)6418 N New Braunfels Ave, San Antonio, TX 78209Food ManufacturingTerm LoanPrime plus 2.75%12/3/203135.8 35.8 37.5 0.01 %
Reliance Healthcare Services LLP dba Always Best Care Senior Services(#)1101 Kings Hwy N, Cherry Hill, NJ 08034Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/3/203137.6 37.6 32.3 0.01 %
45
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Metalhouse LLC(#,^)4705 S. Apopka Vineland Rd, Orlando, FL 32819Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/2/2031305.3 305.3 262.3 0.07 %
Carolina Decompression and Physical Therapy LLC(#,^)11618 US Hwy 70 W, Ste 106, Clayton, NC 27520Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/1/203172.7 72.7 62.4 0.02 %
Ryan M. White dba Precision Engraving and Signs(#,^)2419 Heather Ave, Long Beach, CA 90815Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%12/1/203117.4 17.4 16.2 — %
CDM Field Services, Inc. dba Xcite Automotive(#,^)328 South Jefferson St, Chicago, IL 60661Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/1/2031378.8 378.8 329.7 0.08 %
Pro Source Services, Inc dba Pro Source Services(#,^)6970 Wallis Rd, West Palm Beach, FL 33413Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/1/2031104.7 104.7 90.0 0.02 %
RECS LLC dba Richmond Express(#,^)1804 Dabney Rd, Richmond, VA 23230Couriers and MessengersTerm LoanPrime plus 2.75%12/1/2031143.7 143.7 123.6 0.03 %
L.O.T Early Learning Center LLC(#,^)650 NW 183rd St, Miami, FL 33169Social AssistanceTerm LoanPrime plus 2.75%11/30/203124.1 24.1 23.3 0.01 %
JMH GROUP, LLC dba Hotworx Studio(#)13435 University Ave, Clive, IA 50325Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/30/203241.3 41.3 36.5 0.01 %
Poquoson Law Group, P.C.and Holcomb Solutions, LLC(#,^)720 Roger Brown Dr, Newport News, VA 23602Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/30/2046167.0 167.0 175.1 0.04 %
Ascent Holdings LLC and First Ascent, LLC(#,^)3516 N Spaulding Ave, Chicago, IL 60618Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%1/30/2032170.5 170.5 149.8 0.04 %
The Four Star Ranch, LLC(#,^)238 Oak St, Medford, NY 11763Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/30/204699.1 99.1 108.7 0.03 %
Runyaro Richardson dba Self Made Musicnaire(#,^)14855 Memorial Dr, Houston, TX 77079Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%11/24/20317.7 7.7 6.7 — %
POLARIS BARRE LLC dba PURE BARRE POLARIS(#,^)1513 Gemini Place, Columbus, OH 43240Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/24/20317.2 7.2 6.4 — %
LR Greenview LLC dba Teaspoon(#)2977 Ygnacio Valley Rd, Unit 2977, Pleasant Hill, CA 94523Food and Beverage Stores Term LoanPrime plus 2.75%7/24/203225.5 25.5 22.0 0.01 %
Edenburg Hospitality Inc(#,^)2750 SW 145th Ave, Ste 304, Miramar, FL 33027Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/23/203160.2 60.2 62.9 0.02 %
Southern Latitude Charters LLC(#,^)425 N. Osprey Ave, Sarasota, FL 34236Scenic and Sightseeing TransportationTerm LoanPrime plus 2.75%11/23/203119.4 19.4 17.6 — %
Alpine Rings, LLC(#,^)2040 Independence Commerce Dr, Matthews, NC 28105Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%11/23/203114.4 14.4 12.4 — %
J Lan CPA Inc(#,^)12225 South St, Artesia, CA 90701Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/23/203121.7 21.7 18.6 — %
Flener IP Law, LLC(#,^)77 West Washington St Ste 800, Chicago, IL 60602Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/203114.4 14.4 12.4 — %
Barahona Plumbing LLC(#,^)2789 Jefferson Davis Hwy, Unit 107, Stafford, VA 22554Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/22/204624.5 24.5 26.7 0.01 %
OneCare Health-Advanced Practice Health & Wellness Corp(#,^)97 Port Richmond Ave, Staten Island, NY 10302Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/22/20319.6 9.6 8.3 — %
46
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Gerland Investments, Inc dba Premier Martial Arts(#)12611 I-10 West, Ste 102, San Antonio, TX 78230Educational ServicesTerm LoanPrime plus 2.75%4/22/203217.2 17.2 14.9 — %
Cause of a Kind, LLC(#,^)3989 Long Beach Rd, Island Park, NY 11558Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/203183.5 83.5 71.8 0.02 %
Those Guys Fitness LLC.(#,^)2850 Main St, Ste 104, Mesa, AZ 85213Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/22/20317.2 7.2 6.2 — %
Pho 99 III Vietnamese Restaurant LLC(#)3151 Route 27, Unit K, Franklin Park, NJ 08846Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/19/203114.4 14.4 12.4 — %
Sudha Spirit LLC dba Cork Shop(#)317 East Main St, Branford, CT 06405Food and Beverage Stores Term LoanPrime plus 2.75%11/19/203152.1 52.1 44.7 0.01 %
Ryshaan LLC dba Fyzical Therapy and Balance Center(#)3780 Riverchase Village, Ste 900, Hoover, AL 35244Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/19/203241.5 41.5 36.2 0.01 %
Kouklet LLC(#,^)744 South St, Philadelphia, PA 19147Food ManufacturingTerm LoanPrime plus 2.75%11/19/20316.3 6.3 5.4 — %
IVF Cryo LLC(#,^)12526 Promise Creek Ln (Building 3), Unit 326, Fishers, IN 46038Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/19/204629.8 29.8 30.5 0.01 %
M & M Liquidation(#,^)16 Millstone, Irvine, CA 92606Nonstore Retailers Term LoanPrime plus 2.75%11/19/20313.4 3.4 2.9 — %
Double Scoop Ice Cream Cascade LLC(#,^)2970 Stonecrest Pass, Stonecrest,, GA 30038Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/19/2046123.9 123.9 130.8 0.03 %
New Magnolia Garden Center, Inc(#,^)9620 Chicago Ridge Mall, Chicago Ridge, IL 60609Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%11/19/20313.4 3.4 2.9 — %
BECCS BROWS LLC(#,^)3950 Long Beach Blvd, Ste 203, Long Beach, CA 90807Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/19/204684.0 84.0 90.9 0.02 %
JJBen, Corporation dba Benson Crane Service(#,^)437 Route 212, Saugerties, NY 12477Rental and Leasing ServicesTerm LoanPrime plus 2.75%11/18/2031150.4 150.4 139.9 0.04 %
West Ballantyne Animal Hospital PLLC(#,^)11926 Providence Rd W, Charlotte, NC 28277Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/18/203110.2 10.2 8.7 — %
Guardian Cyber Solutions, LLC(#,^)14011 Hollow Crest Place, Riverview, FL 33579Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/18/20319.6 9.6 8.3 — %
Caroline Cecil Textiles, LLC(#,^)3834 N 35th Place, Phoenix, AZ 85018Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/18/20315.3 5.3 4.6 — %
Dayo J. Jones dba DayoSense(#,^)2306 South Eddy St, Seattle, WA 98108Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/18/203110.6 10.6 9.4 — %
Brevard Water Systems Sales & Services Inc(#,^)3101 US-1, Mims, FL 32754Administrative and Support ServicesTerm LoanPrime plus 2.75%11/17/203126.8 26.8 23.1 0.01 %
EKGolf Inc(#,^)10890 Douglas Ave, Urbandale, IA 50322Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/17/20314.4 4.4 4.1 — %
Reset Cryotherapy LLC(#,^)1220 20th St, Miami Beach, FL 33139Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/16/203133.7 33.7 30.7 0.01 %
Casablanca Floral Studio(#,^)106 Ram Cat Alley, Seneca, SC 29678Miscellaneous Store Retailers Term LoanPrime plus 2.75%11/16/20311.1 1.1 1.0 — %
Uniglobal Pension Planning Inc(#,^)4114 Legato Rd, Fairfax, VA 22033Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/16/2031101.1 101.1 86.9 0.02 %
47
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Georgia Two-Way Inc(#,^)1206 GA Hwy 30 West, Americus, GA 31719Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%11/12/203128.9 28.9 24.8 0.01 %
Colin Forde DDS PC dba Family & Cosmetic Dental Design(#,^)7520 Montgomery Blvd NE Bldg C, Albuquerque, NM 87109Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/12/2046161.1 161.1 172.2 0.04 %
Ghioni Tax & Accounting Solutions, LLC(#,^)958 NE Kelly Ave, Gresham, OR 97030Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/12/20314.8 4.8 4.1 — %
Jay Kalimai LLC(#,^)310 S Robinson Dr, Waco, TX 76706Gasoline Stations Term LoanPrime plus 2.75%11/12/204631.8 31.8 35.6 0.01 %
Kebab Daddy Inc(#,^)3701 Ocean View Blvd. A-3, Montrose, CA 91020Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/12/203115.9 15.9 14.8 — %
The Loyal Subjects Wave 2, LLC(#,^)144 West Washington Blvd, Los Angeles, CA 90007Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/10/2031192.6 192.6 165.4 0.04 %
Bofill's Barbeque LLC(#)15159 South Cicero Ave, Oak Forest, IL 60452Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/10/204734.8 34.8 36.0 0.01 %
New Generation Products LLC(#,^)5013 Pacific Hwy E, Fife, WA 98424Electronics and Appliance Stores Term LoanPrime plus 2.75%11/10/2031192.6 192.6 165.4 0.04 %
US Ideal Diamond Cutting Works Inc(#,^)5757 Alpha Rd,Ste 502, Dallas, TX 75240Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/10/203119.3 19.3 16.5 — %
Codame Enterprises LLC dba Firehouse Subs #142(#,^)1547 Main St, Dunedin, FL 34698Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/10/203126.2 26.2 22.5 0.01 %
Cresson-Inn Bar & Grille, Inc.(#,^)114 Gay St, Manayunk, PA 19127Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/10/204647.5 47.5 51.5 0.01 %
Sargas Pharmaceutical Adherence & Compliance Intl, LLC(#,^)109 H St, Bakersfield, CA 93304Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/9/204619.3 19.3 21.2 0.01 %
Solo Creer LLC dba DoodyCalls(#,^)13096 County Rd 192, Tyler, TX 75703Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%11/9/20316.1 6.1 5.2 — %
Branded Goods LLC(#,^)1975 Stirling Rd, Stes A, B, and C, Davie, FL 33004Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/203172.2 72.2 69.6 0.02 %
ORCHID ENERGY SOLUTIONS(#,^)3662 Clyde Park Ave SW, Wyoming, MI 49509Miscellaneous Store Retailers Term LoanPrime plus 2.75%11/8/203124.1 24.1 20.7 0.01 %
LA SCAPES LLC(#,^)1812 Portview Dr, Spring Hill, TN 37174Administrative and Support ServicesTerm LoanPrime plus 2.75%11/8/203110.1 10.1 8.7 — %
Michelle Rianne Turney dba The Collective Salon Suites(#,^)809 Frolich Dr, Midwest City, OK 73110Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/8/20324.0 4.0 3.4 — %
The Soda Spot LLC(#,^)7240 W. Azure Rd, Ste #105, Las Vegas, NV 89130Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/5/20325.3 5.3 4.8 — %
Ricky W. Kent dba VT-Doors-N-More(#,^)49 Mill Rd, Mount Tabor, VT 05739Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%11/5/204621.5 21.5 23.7 0.01 %
Bettencourt Flying Service, Inc.(#,^)1066 South Bert Crane Rd, Atwater, CA 95301Air TransportationTerm LoanPrime plus 2.75%11/5/203181.4 81.4 70.5 0.02 %
New Mexico Rey LLC(#,^)3520 Pan American Fwy NE, Albuquerque, NM 87107Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/5/20316.7 6.7 6.0 — %
Ecuadane, Inc.(#,^)9 Windsor Court, Purchase, NY 10577Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/5/203133.7 33.7 29.0 0.01 %
48
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Top Knot Studio, LLC dba Goldenrod Parlor(#,^)220 NW 8th Ave, Ste 50, Gainesville, FL 32601Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/5/20314.8 4.8 4.1 — %
Sivalingam Medical Corporation, Inc dba First Valley Medical Group(#,^)44725 10th St W, Ste 210, Lancaster, CA 93534Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/5/2031140.6 140.6 130.3 0.03 %
Paul Genzink LLC dba VSBL(#,^)1332 Pinegrove NW, Grand Rapids, MI 49504Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%11/5/20314.8 4.8 4.2 — %
ECOCOSM, INC.(#,^)201 Spear St, San Francisco, CA 94105Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/5/203133.7 33.7 29.0 0.01 %
Square One Step LLC(#)10710 Barker Cypress Rd, Ste B, Cypress, TX 77433Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/4/203232.8 32.8 29.3 0.01 %
Wiser ID LLC(#,^)26 Twin Oaks Dr, Nashville, TN 37211Publishing Industries (except Internet)Term LoanPrime plus 2.75%11/4/20314.8 4.8 4.1 — %
INE Incorporated dba Juice It Up Colton(#)1040-1100 S. Mt. Vernon Ave, Riverside, CA 92507Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/3/203263.9 63.9 55.1 0.01 %
Finally Pest Control, LLC(#,^)12118 Sellerton Dr, Fishers, IN 46037Administrative and Support ServicesTerm LoanPrime plus 2.75%11/3/203112.1 12.1 10.4 — %
LoCo Apparel LLC(#,^)2201 Long Prairie Rd, Unit 107-314, Flower Mound, TX 75022Nonstore Retailers Term LoanPrime plus 2.75%10/29/203195.6 95.6 88.0 0.02 %
Gin Ray International LLC(#,^)8776 & 8778 NE Sandy Blvd, Portland, OR 97220Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/29/2046138.6 138.6 140.7 0.04 %
MDx BioAnalytical Laboratory, Inc(#,^)5890 Imperial Loop Dr. Ste 12, College Station, TX 77845Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/29/203123.9 23.9 24.3 0.01 %
Pride Gymnastics Academy, LLC(#,^)7801 Old Hwy 51, Broken Arrow, OK 74014Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/29/203110.1 10.1 8.7 — %
100% Permanent Inc.(#,^)1315 N Larrabee, Chicago, IL 60610Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/29/203113.3 13.3 12.3 — %
JMC Auto,LLC(#,^)644 Southfield Rd, Lincoln Park, MI 48146Repair and MaintenanceTerm LoanPrime plus 2.75%10/29/203183.7 83.7 79.8 0.02 %
Arcas Machine Inc.(#,^)700 N Neely St., Gillbert, AZ 85233Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/29/2031101.0 101.0 93.5 0.02 %
CPH Fremont South LLC CPH Palato , CPH Palo Alto, CPH Cupertino(#,^)46703 Mission Blvd, Fremont, CA 94539Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/29/203191.8 91.8 79.8 0.02 %
HI5 HOME INNOVATION, LLC(#,^)9187 Holliston Creek Place, Winter Garden, FL 34787Nonstore Retailers Term LoanPrime plus 2.75%10/29/20315.7 5.7 4.9 — %
Half-Pass Ltd dba Canterbury Tack & Apparel(#,^)1291 West 137th Court, Broomfield, CO 80023Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%10/29/20317.0 7.0 6.1 — %
Idiot Racing LLC dba Idiot Racing(#,^)13701 Sweetwater Cove Place, Tampa, FL 33613Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%10/29/20312.9 2.9 2.5 — %
Cortlandt Racquet Club, Inc. dba(#,^)2127 Albany Post Rd, Montrose, NY 10548Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/29/20461,237.2 1,237.2 1,388.0 0.35 %
La Cueva Inc(#,^)9742 E Colfax Ave, Aurora, CO 80010Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/28/204667.9 67.9 76.2 0.02 %
49
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Potato Bros, LLC dba Crumbl Cookies Chicago Old Town(#)1435 N Wells St, Chicago, IL 60610Food and Beverage Stores Term LoanPrime plus 2.75%3/28/203260.9 60.9 53.6 0.01 %
Love at First Bite LLC dba Standlee's(#,^)880 Blackwood Rd, Chula Vista, CA 91910General Merchandise Stores Term LoanPrime plus 2.75%10/27/203124.9 24.9 21.4 0.01 %
UnVeil Media Group LLC(#,^)2251 Stone Pile Dr, Concord, NC 28025Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/27/20314.8 4.8 4.1 — %
Kedai Indonesian Cafe(#)110 S Mountain Ave, Upland, CA 91786Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/203216.1 16.1 13.9 — %
Healthcare At Home LLC(#,^)5243 Snapfinger Woods Dr, Unit #104, Decatur, GA 30035Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/26/204623.9 23.9 26.4 0.01 %
Jason Watt Pictures, LLC(#,^)110 Broadway , Brooklyn, NY 11249Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%10/26/203114.3 14.3 12.3 — %
By Modern Design LLC(#,^)1436 Luz De Sol Dr, El Paso, TX 79912Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/26/20314.8 4.8 4.1 — %
Owkalasho LLC dba The UPS Store 299(#,^)3755 Avocado Blvd, La Mesa, CA 91941Couriers and MessengersTerm LoanPrime plus 2.75%10/25/203134.2 34.2 29.4 0.01 %
Right Choice Accounting Solutions, LLC(#,^)3210 Royal Creek Way, Lilburn, GA 30047Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/25/20313.3 3.3 2.9 — %
ProBio Search & Career Services Corporation(#,^)735 County Line Rd, Villanova, PA 19085Administrative and Support ServicesTerm LoanPrime plus 2.75%10/22/203114.0 14.0 12.1 — %
Sabri Enterprises, Inc.(#,^)11134 Hoffman Dr, Germantown, MD 20876Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%10/22/20315.8 5.8 5.0 — %
M&P_CAL, LLC dba Hotworx Anaheim Hills(#)8086 East Santa Canyon Rd, Anaheim, CA 92808Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/22/203229.2 29.2 26.1 0.01 %
Tucker Management Group, LLC(#,^)115 Tyler Rd, Remlap, AL 35133Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/22/203121.5 21.5 22.4 0.01 %
Kynytyx, Inc.(#)990A Station Rd, Bellport, NY 11713Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/22/2032131.2 131.2 128.7 0.03 %
Alicia A. Oswald dba Elevated Chiropractic(#,^)3555 Kenyon St, San Diego, CA 92110Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/22/20312.3 2.3 1.9 — %
Voyager Scientific, LLC(#,^)309 Washington St, Conshohocken, PA 19428Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/22/20319.6 9.6 8.2 — %
Premiere, Inc(#,^)615 North Landry Dr, New Iberia, LA 70563Support Activities for MiningTerm LoanPrime plus 2.75%10/21/203176.5 76.5 80.0 0.02 %
Simply Appliances, Inc.(#,^)1811 Douglas Blvd., Ste 5, Roseville, CA 95611Electronics and Appliance Stores Term LoanPrime plus 2.75%10/21/203114.3 14.3 12.3 — %
Balanced Health & Fitness LLC dba F45 NW Reno(#)5110 Mae Anne Dr, Ste 702, Reno, NV 89521Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/203285.4 85.4 75.9 0.02 %
Big Creek Travel LLC(#,^)5020 Chase Ln, Cumming, GA 30240Administrative and Support ServicesTerm LoanPrime plus 2.75%10/19/20313.3 3.3 2.9 — %
J&L Naturals LLC(#,^)110 Oak Park Dr Ste 102, Mooresville, NC 28115Health and Personal Care Stores Term LoanPrime plus 2.75%10/15/203112.8 12.8 11.0 — %
Blue 360 Media, LLC(#,^)2750 Rasmussen Rd, Park City, UT 84098Publishing Industries (except Internet)Term LoanPrime plus 2.75%10/15/2031394.0 394.0 339.3 0.09 %
50
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Barber's Home Innovations LLC(#,^)3287 Enisgrove Dr E, Palm Harbor, FL 34683Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/15/203128.7 28.7 24.7 0.01 %
LN Accounting Advisor LLC(#,^)3663 Washington Ave, Houston, TX 77007Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/15/20319.6 9.6 8.2 — %
Skate-A-While Longer, LLC(#,^)220 Ridge St and 229 South George St, Rome, NY 13440Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/13/204615.9 15.9 17.6 — %
Symmonds, LLC dba North End Tavern(#,^)914 IA-5 Business North, Pleasantville, IA 50225Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/13/204614.3 14.3 15.5 — %
A&D Enterprise Inc dba FastFrame(#,^)4150 Legacy Dr, Ste 412, Frisco, TX 75034Miscellaneous Store Retailers Term LoanPrime plus 2.75%10/12/203122.4 22.4 19.5 — %
Bella Ottica LLC dba Eyes on Towne Lake(#,^)1075 Buckhead Crossing, Ste 130, Woodstock, GA 30189Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/12/203114.3 14.3 12.3 — %
Mitchell Authentic Inc RockBox Fitness(#)4880 Lower Roswell Rd, Marietta, GA 30068Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/12/2032138.1 138.1 118.9 0.03 %
Mary Rozzi LLC(#,^)52153 Pipes Canyon Rd #552, Pioneertown, CA 92268Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/12/20317.7 7.7 6.6 — %
Jed Thomas Consulting, Inc dba Woggle Consulting(#,^)3 Trackside Dr, Kennebunk, ME 04043Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/8/20312.9 2.9 2.5 — %
Agape R. E. Solutions LLC(#,^)33 Market Point Dr, Greenville, SC 29607Real EstateTerm LoanPrime plus 2.75%10/8/20314.8 4.8 4.1 — %
Because it's Better Inc(#,^)84 Stonecrest Rd, Ridgefield, CT 06877Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/8/2031167.4 167.4 143.8 0.04 %
Shattered Prism LLC(#,^)63 Flushing Ave, Brooklyn, NY 11205Rental and Leasing ServicesTerm LoanPrime plus 2.75%10/8/203114.8 14.8 14.6 — %
Be Known, LLC(#,^)802 Evolve Way, Knoxville, TN 37915Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/7/20317.2 7.2 6.2 — %
Angels Learning Center Inc,Hector A. Velasquez,Milene A. Velasquez(#,^)2801 Central Ave, Union City, NJ 07087Social AssistanceTerm LoanPrime plus 2.75%10/7/203131.5 31.5 27.0 0.01 %
Greylab LLC dba Mighty Dog Roofing North DFW(#,^)10215 El Cinco Dr, Frisco, TX 75033Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/7/203125.8 25.8 22.2 0.01 %
SIDCOR Gunsmithing LLC(#,^)3213 Catalpa Dr, Springfield, IL 62712Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/7/20315.2 5.2 4.7 — %
Kotyark L.L.C.dba Gibsonton Motel(#,^)11545 US Hwy 41 S, Gibsonton, FL 33534AccommodationTerm LoanPrime plus 2.75%10/6/203114.8 14.8 14.8 — %
Krown Records, LLC(#,^)5311 S Big Horn Pl, Chandler, AZ 85249Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%10/5/20318.0 8.0 6.9 — %
The Gold Standard Accounting & Tax Inc(#,^)4911 Warner Ave Ste 211, Huntington Beach, CA 92649Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/4/203210.1 10.1 8.7 — %
Orchard Collision, Inc(#,^)14898 Telegraph Rd, Redford, MI 48239Repair and MaintenanceTerm LoanPrime plus 2.75%9/30/204660.3 60.3 63.5 0.02 %
New Greater Generation Family Funeral Group, LLC(#,^)1400 N Hampton Rd, DeSoto, TX 75115Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/30/204624.1 24.1 25.6 0.01 %
51
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Skaggs RV Outlet, LLC(#,^)301 Commerce Dr, Elizabethtown, KY 42701Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/30/203147.5 47.5 49.7 0.01 %
Timothy A Chapamn dba Tim's Auto Tech(#,^)62 North Canal St, Oxford, NY 13830Repair and MaintenanceTerm LoanPrime plus 2.75%9/30/203114.7 14.7 15.3 — %
Coast 2 Coast Restoration LLC,Coast 2 Coast Real Estate LLC(#,^)3505 Veterans Memorial Hwy, Ronkonkoma, NY 11779Construction of BuildingsTerm LoanPrime plus 2.75%9/30/2046375.1 375.1 409.5 0.10 %
Motion Physical Medicine & Wellness, PLLC(#,^)13100 Wortham Center Dr, Houston, TX 77065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/203113.9 13.9 12.1 — %
LOVEBUG NUTRITION Inc(#,^)115 E 34th St, New York, NY 10156Health and Personal Care Stores Term LoanPrime plus 2.75%9/30/2031114.8 114.8 105.2 0.03 %
Faxon Enterprises Inc(#,^)3107 Nichols Ave, Bay City, TX 78259Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/30/20461,023.2 1,023.2 1,042.3 0.26 %
Aitheras Aviation Group, LLC, a Florida Liimited Liability Company(#,^)2301 N Marginal Rd, Cleveland, OH 44114Air TransportationTerm LoanPrime plus 2.75%9/30/203171.3 71.3 62.0 0.02 %
Garage Floor Coating of MN.com, LLC(#,^)6701 W 23rd St, Minneapolis, MN 55426Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/30/203164.1 64.1 55.2 0.01 %
OSSA LLC(#,^)300 Iberia St, Youngsville, LA 70503Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/203176.0 76.0 76.9 0.02 %
Champion's Florida LLC & Market Vision Holdings, LLC(#,^)1360 NW 88th Ave, Doral, FL 33172Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/30/20461,207.3 1,207.3 1,354.5 0.34 %
Lively's Collision, Center LLC(#,^)5115 Jefferson Davis Hwy, North Augusta, SC 29841Repair and MaintenanceTerm LoanPrime plus 2.75%9/30/2046145.5 145.5 150.7 0.04 %
Tony D's Hooked, LLC ((#)378 Rope Ferry Rd aka Mago Point Way, Waterford, CT 06385Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2046133.5 133.5 139.6 0.04 %
Generation Real Estate Accumulation Team- and Zillah Investments LLC(#)142 WA-150, Chelan, WA 98816Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/30/2031985.8 985.8 847.0 0.21 %
WALKING URGENT CARE, INC(#,^)10308 W Sample Rd, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/203162.1 62.1 55.4 0.01 %
Great II, LLC(#,^)4390 Commerce Circle, Idaho Falls, ID 83401Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/30/2046210.1 210.1 234.3 0.06 %
Centre Storage and Matthew Wayne Vines(#,^)1650 Clarence E Chesnut Jr Bypass, Centre, AL 35960Real EstateTerm LoanPrime plus 2.75%9/30/204668.6 68.6 77.0 0.02 %
Creche N Crew, LLC(#,^)3185 West Ward Rd, Dunkirk, MD 20754Social AssistanceTerm LoanPrime plus 2.75%9/29/2046254.5 254.5 283.8 0.07 %
Prestige Products of Central Florida, Inc dba Milcarsky's Appliances(#,^)1180 Emma Oaks Trail, Lake Mary, FL 32746Electronics and Appliance Stores Term LoanPrime plus 2.75%9/29/2031237.6 237.6 204.1 0.05 %
Metro of Livernois Inc(#)17149 Livernois, Detroit, MI 48221TelecommunicationsTerm LoanPrime plus 2.75%5/29/2047202.5 202.5 208.5 0.05 %
Norma Skin Care and SPA LLC(#,^)3364 Coral Way, Miami, FL 33145Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/29/203113.3 13.3 11.4 — %
Chris Landscaping Inc dba New England Tree Co.(#,^)1139 Washington St, Stoughton, MA 02072Administrative and Support ServicesTerm LoanPrime plus 2.75%9/29/203175.1 75.1 66.8 0.02 %
52
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Jafar and Jamal, Inc dba Foodland ; IMAD Corporation(#)11 Highland Ave, Malden, MA 02148Food and Beverage Stores Term LoanPrime plus 2.75%6/29/203240.2 40.2 35.3 0.01 %
Pueblo Canyon, LLC, Matthew Benjamin Allen and Elizabeth Kelly Allen(#,^)199 SAN ILDEFONSO Rd, LOS ALAMOS, NM 87544AccommodationTerm LoanPrime plus 2.75%9/29/2046101.0 101.0 105.2 0.03 %
Daring Business Strategies Inc.(#,^)600 Front St, Lynden, WA 98264Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/29/203133.3 33.3 28.6 0.01 %
Agerton Timber LLC and Agerton Transportation, LLC(#,^)3166 Aurelle Rd, Strong, AR 71765Forestry and LoggingTerm LoanPrime plus 2.75%9/29/203127.8 27.8 25.3 0.01 %
TRI-COUNTY SERVICES, INC. and Andrew M Chehata(#,^)4900 SW 51st St, Davie, FL 33314Administrative and Support ServicesTerm LoanPrime plus 2.75%9/29/2031321.6 321.6 276.4 0.07 %
Nidal Radwan, M.D., P.A(#,^)18100 N.E. 19th Ave, North Miami Beach, FL 33162Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/29/203178.6 78.6 70.3 0.02 %
Group Vertical, LLC dba Group Vertical(#,^)678 Front Ave Northwest, Grand Rapids, MI 49504Nonstore Retailers Term LoanPrime plus 2.75%9/29/2031170.7 170.7 146.6 0.04 %
SoCal Propane LLC(#,^)220 N San Jacinto St, Hemet, CA 92543Nonstore Retailers Term LoanPrime plus 2.75%9/29/2046299.5 299.5 336.0 0.09 %
NMFM Consulting, LLC(#,^)3636 Lake Ave, Wilmette, IL 60091Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/29/2046264.2 264.2 273.7 0.07 %
Catching Fish LLC dba Man Overboard Bait and Tackle(#,^)1825 S. Patrick Dr, Ste B, Harbour Beach, FL 32937Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%9/28/20315.1 5.1 4.4 — %
LuLu Kingdom LLC(#,^)18 S. 20th St, Philadelphia, PA 19103Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/203215.1 15.1 13.7 — %
Teaghlach Firearms LLC dba TFirearms(#,^)117 S. Main St, Altus, OK 73526Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/28/20312.6 2.6 2.3 — %
Art Food Attitude Inc. dba Bamboo Leaf Thai Eatery(#,^)724 Main St, Bradley Beach, NJ 07720Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/28/203124.7 24.7 21.4 0.01 %
Cj Real Estate Partners LLC(#)1800 E Palm Ave, Tampa, FL 33605Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2047281.7 281.7 298.5 0.08 %
JRBA Inc dba Bulger True Value(#,^)1185 W Santa Fe St, Olathe, KS 66061Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/28/203124.5 24.5 21.0 0.01 %
Momentum Metal Finishing Inc.(#,^)1286 Anvilwood Ave, Sunnyvale, CA 94089Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/27/20461,046.2 1,046.2 1,147.4 0.29 %
Daisi Inc.(#,^)10300 West Charleston Blvd, Las Vegas, NV 89135Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%9/27/2031104.6 104.6 89.7 0.02 %
Michael Risoldi's Auto Repair Inc.(#,^)1435 WoodLn Rd, Eastampton, NJ 08060Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2031120.2 120.2 123.4 0.03 %
Strong Tower 10933, Inc.(#,^)15530 NW US Hwy 441, Alachua, FL 32615Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/20317.9 7.9 6.8 — %
C.D.A. Serviceability Trust Inc(#)4501 6th Ave, Tacoma, WA 98406Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/204668.1 68.1 75.6 0.02 %
D&M Properties, LLC(#,^)2600 Coon Rapids Blvd Nortwest, Coon Rapids, MN 55433Repair and MaintenanceTerm LoanPrime plus 2.75%9/24/203124.3 24.3 20.8 0.01 %
53
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Teach 2 Teach Music Lessons, LLC(#)184 Marshall Hill Rd, West Milford, NJ 07480Educational ServicesTerm LoanPrime plus 2.75%9/24/203110.0 10.0 8.6 — %
3-2-1 Go LLC dba Burgerz and Ballz(#,^)868 Fulda Ave NW, Palm Bay, FL 32907Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/24/20315.1 5.1 4.7 — %
Taurus Legacy, LLC dba Papas Diner(#,^)626 FL-50, Clermont, FL 34711Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/24/20319.0 9.0 7.7 — %
RightTalents LLC(#)639 Passaic Ave, Nutley, NJ 07110Administrative and Support ServicesTerm LoanPrime plus 2.75%9/24/20319.5 9.5 8.2 — %
USA Security Services Corporation(#)844 Hebron Ave, Glastonbury, CT 06033Administrative and Support ServicesTerm LoanPrime plus 2.75%9/24/203195.0 95.0 81.5 0.02 %
Black Market Restaurant Group Inc. dba Black Market Meal Prep(#)29941 Aventura, Ste K, Rancho Santa Margarita, CA 92688Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/24/203234.5 34.5 30.4 0.01 %
Forays, Ltd dba Northern Comfort(#,^)2800 N. Lagoon Dr, Wasilla, AK 99654Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%9/24/2046170.5 170.5 181.9 0.05 %
Great Dog Products for Great People LLC dba Royal Frenchel(#,^)13207 Squawwood Ln SE, Rainier, WA 98576Animal Production and AquacultureTerm LoanPrime plus 2.75%9/24/203111.9 11.9 10.6 — %
Gateway Auto Service and Collision #2 Inc(#,^)1205 South 8th Ave, Maywood, IL 60153Repair and MaintenanceTerm LoanPrime plus 2.75%9/24/204629.4 29.4 33.0 0.01 %
Rightworks Staffing Inc.(#,^)1201 Kenwood Ave, Austin, TX 78704Administrative and Support ServicesTerm LoanPrime plus 2.75%9/24/2031142.5 142.5 122.2 0.03 %
Ben Anderson 365(#,^)9920 Research Dr, Irvine, CA 93108Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/24/203147.5 47.5 40.8 0.01 %
Quinn da Matta Productions LLC(#,^)2155 Outpost Dr, Los Angeles, CA 90068Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/23/20314.0 4.0 3.4 — %
Vincent Remodeling, LLC(#,^)4667 Riverbend RdTrussville, Trussville, AL 35173Construction of BuildingsTerm LoanPrime plus 2.75%9/23/203114.3 14.3 12.2 — %
MDJ Chiropractic PC(#,^)18009 Jamaica Ave, Jamaica, NY 11432Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/22/20314.8 4.8 4.1 — %
Udder Free Only, LLC(#,^)3603 Vinton Ave Unit 205, Los Angeles, CA 90034Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%9/21/203117.1 17.1 15.1 — %
Oui Pastry LLC(#,^)1905 Scenic Hwy N #10000b, Snellville, GA 30078Food and Beverage Stores Term LoanPrime plus 2.75%9/17/20314.8 4.8 4.1 — %
Goode Tax and Resolution, LLC(#,^)2527 Standifer Place, Lanham, MD 20706Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/17/20313.0 3.0 2.6 — %
Phillips Diesel Service LLC(#,^)4150 S 32nd St W, Muskogee, OK 74401Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/204630.2 30.2 31.6 0.01 %
Tiny Homer(#,^)62361 Mary Miller Ave, Homer, AK 99603Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/17/20315.2 5.2 5.5 — %
Hurricane Beauty LLC(#)1110 vandon loop, Berlin, NJ 08009Nonstore Retailers Term LoanPrime plus 2.75%9/17/20319.5 9.5 8.2 — %
Radiator Fans Unlimited LLC and Gros Holdings Unlimited, Inc(#,^)6179 Alameda Ave, El Paso, TX 79905Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/15/203151.0 51.0 44.4 0.01 %
54
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Radiator Fans Unlimited LLC and Gros Holdings Unlimited Inc(#,^)6179 Alameda Ave, El Paso, TX 79905Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/15/204644.3 44.3 48.4 0.01 %
Aaron Mahoney dba Alaska Gulf Coast Expeditions(#,^)16347 Deerfield St,, Ninilchik, AK 99639Scenic and Sightseeing TransportationTerm LoanPrime plus 2.75%9/14/203127.6 27.6 23.6 0.01 %
JEMS Transportation & Logistics LLC(#,^)30715 Basil Trace Dr, Spring, TX 77386Truck TransportationTerm LoanPrime plus 2.75%9/14/203114.3 14.3 12.2 — %
R & S Chroniger Enterprises, LLC(#,^)1681 Beech Ln, Hanover, PA 17331Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/14/203117.0 17.0 14.6 — %
For The Love Athletics LLC(#,^)225 N Downing St, Davidson, Davidson, NC 28036Educational ServicesTerm LoanPrime plus 2.75%9/14/20314.7 4.7 4.0 — %
SkyEstate LLC dba Vango's Drive Thru(#,^)4000 Leap Rd, Hilliard, OH 43026Food and Beverage Stores Term LoanPrime plus 2.75%9/14/203129.1 29.1 24.9 0.01 %
MTR Designs LLC(#,^)205 North 12th St, Opelika, AL 36801Nonstore Retailers Term LoanPrime plus 2.75%9/14/20317.1 7.1 6.1 — %
Octopus Records LLC(#,^)72-05 72nd Place, 2B, Glendale, NY 11385Nonstore Retailers Term LoanPrime plus 2.75%9/13/20314.3 4.3 3.7 — %
O&O Welding Zone Corp(#,^)2100 4th St, Orlando, FL 32824Repair and MaintenanceTerm LoanPrime plus 2.75%9/13/204647.6 47.6 51.5 0.01 %
Touch of Therapy Massage, LLC(#,^)8510 Warner Rd, Ste 300, Plain City, OH 43064Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/13/203114.3 14.3 14.9 — %
Dennis Hair Studio Inc(#)1566 Union Turnpike, New Hyde Park, NY 11040Personal and Laundry ServicesTerm LoanPrime plus 6.5%9/13/20316.0 6.0 5.8 — %
MattCole Construction and Roofing, LLC(#,^)2529 Boxford Ln, Cordova, TN 38016Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/13/203152.3 52.3 47.6 0.01 %
Tri T. Le dba AN Company(#,^)1431 Amro Way, South El Monte, CA 91733Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%9/10/203115.0 15.0 13.8 — %
Trash Can Rescue LLC(#,^)1096 Nast Chapel Rd, Martinsville, IN 46151Administrative and Support ServicesTerm LoanPrime plus 2.75%9/10/203118.0 18.0 16.6 — %
Kyle Keiper LLC(#,^)3408 Spring St #1, Pompano Beach, FL 33062Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/10/203111.5 11.5 10.8 — %
Remsund Group Inc dba Remsund Group(#,^)6581 Westland Dr, Brownsburg, IN 46112Couriers and MessengersTerm LoanPrime plus 2.75%9/10/203152.3 52.3 44.8 0.01 %
Essex Trade, Inc.dba Artesano's(#,^)33 Bearskin Neck, Rockport, MA 01966Miscellaneous Store Retailers Term LoanPrime plus 2.75%9/10/20315.7 5.7 4.9 — %
Panditos LLC dba White Lotus Home(#)745 Joyce Kilmer Ave, New Brunswick, NJ 08901General Merchandise Stores Term LoanPrime plus 2.75%9/10/203119.0 19.0 16.3 — %
B & W Towing, LLC(#)701 Addison Rd, Painted Post, NY 14870Support Activities for TransportationTerm LoanPrime plus 2.75%2/9/204789.2 89.2 94.9 0.02 %
Queen Oxygen Co. dba Quest Cylinder Co.(#,^)239 Lafayette St, London, OH 43140Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/9/203143.1 43.1 41.8 0.01 %
Y & C Company INC dba Miji-Mura Hibachi & Sushi(#,^)8045 NW 115th Way, Parkland, FL 33076Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/9/2046243.9 243.9 273.4 0.07 %
Le Bajec Le LLC(#,^)810 N Alamo St,, San Antonio, TX 78215Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/8/204678.5 78.5 83.5 0.02 %
55
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Alaska Industrial Paint, LLC dba Alaska Fleet and Collision Specialist(#)1301 North Post Rd, Anchorage, AK 99501Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/8/203249.9 49.9 52.2 0.01 %
Almina Concept, Inc.(#,^)5042 Willshire Blvd., Los Angeles, CA 90036Nonstore Retailers Term LoanPrime plus 2.75%9/7/20312.4 2.4 2.0 — %
Grand Portage LLC(#,^)3306 Chelsea Cir, Ann Arbor, MI 48108Nonstore Retailers Term LoanPrime plus 2.75%9/7/203131.7 31.7 27.2 0.01 %
Sassy Sista's Boutique LLC(#,^)851 W. State Rd 436 Ste. 1005, Altamonte Springs, FL 32714Health and Personal Care Stores Term LoanPrime plus 2.75%9/7/20316.2 6.2 5.3 — %
JD Hunt Custom Homes Incorporated dba JD Hunt Construction(#,^)5515 Parkcrest Dr, Austin, TX 78731Construction of BuildingsTerm LoanPrime plus 2.75%9/3/2031870.4 870.4 746.5 0.19 %
XL Auto Group LLC dba Autos Wholesale(#,^)28900 Mission Blvd, Hayward, CA 94544Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/3/203117.7 17.7 15.2 — %
4 Points Towing & Roadside Service LLC(#,^)5425 Willow Grove Rd, Camden Wyoming, DE 19934Support Activities for TransportationTerm LoanPrime plus 2.75%9/2/203133.3 33.3 30.4 0.01 %
RGV Poke LLC dba Pokeworks(#)5401 North 10 St Unit 126, McAllen, TX 78504Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/2/203234.8 34.8 30.6 0.01 %
Sheryl's Candy Apple Creations, LLC(#,^)131 Piney Green Rd, Ste 300, Jacksonville, NC 28546Food and Beverage Stores Term LoanPrime plus 2.75%12/2/20315.8 5.8 5.2 — %
331 Foley Sound Inc(#,^)19355 Business Center Dr, Unit #9, Northridge, CA 91324Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%1/2/203224.2 24.2 21.0 0.01 %
Kenbenco, Inc.dba Benson Steel Fabricators(#,^)437 Route 212, Saugerties, NY 12477Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%8/31/2031155.2 155.2 152.2 0.04 %
Tactical Integrated Systems Inc dba Techy(#,^)2501 Citrus Blvd, Leesburg, FL 34748Repair and MaintenanceTerm LoanPrime plus 2.75%8/31/203117.6 17.6 15.1 — %
Big Heart LLC dba Chick'n Cone(#,^)1158 W San Marcos Blvd, San Marcos, CA 92078Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/203122.4 22.4 19.7 — %
Shrijee LLC dba Econo Lodge(#)908 Washington St, Manitowoc, WI 54220AccommodationTerm LoanPrime plus 2.75%6/30/2047162.8 162.8 174.8 0.04 %
RM Interiors Inc.dba House of Moseley(#,^)8200 Stockdale HWY D-6, Bakersfield, CA 93311Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%8/31/203128.3 28.3 24.3 0.01 %
Cadena Co.(#,^)2133 Southend Dr. #301, Charlotte, NC 28213Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/31/203110.0 10.0 8.6 — %
JeanAnn Schwark, MS, FNP-C PLLC dba Serenity Women's Care(#,^)10615 N Hayden Rd C100, Scottsdale, AZ 85260Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/31/2031156.7 156.7 140.3 0.04 %
Rosy Rings, Inc(#,^)2400 Industrial Ln, Ste 700, Broomfield, CO 80020Miscellaneous ManufacturingTerm LoanPrime plus 2.75%8/31/2031157.4 157.4 135.0 0.03 %
Hair and Beauty Market Place, LLC dba LAOR(#)7900 S. Orange Blossom Trail, Unit 1, Orlando, FL 32809Health and Personal Care Stores Term LoanPrime plus 2.75%8/31/2046187.3 187.3 210.0 0.05 %
paws Boarding LLC dba paws DayCamp and Boarding(#,^)2449 Breanna Way, Little Elm, TX 75068Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/31/20312.5 2.5 2.2 — %
56
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

K's Salon 1 LLC dba Gerard Anthony Salon(#,^)580 Amsterdam Ave, New York, NY 10024Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/30/203221.3 21.3 18.4 — %
Kadence Consulting Inc(#,^)13315 Bishops Ct, Roswell, GA 30075Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/30/203117.6 17.6 15.1 — %
Angela Barbara(#,^)51 Bennington Square, Hackettstown, NJ 07840Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/30/204624.2 24.2 26.1 0.01 %
25 Dials LLC(#,^)875 North High St, Ste 300, Columbus, OH 43215Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%8/27/20318.9 8.9 9.3 — %
Willow Falls Venue LLC(#,^)23122 S North Carolina Hwy 109, Denton, NC 27239Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/27/204620.4 20.4 22.0 0.01 %
Downtown Dance Academy Limited Liability Company(#,^)1204 Hooper Ave, Toms River, NJ 08753Educational ServicesTerm LoanPrime plus 2.75%8/27/20315.1 5.1 4.4 — %
3D Printed Tabletop, LLC(#,^)2870 Sonata Court, St. Cloud, FL 34772Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%8/27/20312.8 2.8 2.4 — %
Debut Solutions LLC(#,^)2000 Frankfort St, Laredo, TX 78040Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%8/27/2031260.2 260.2 228.0 0.06 %
DebutSolutions, LLC dba Emerald Pacific Resources(#,^)2000 Frankfurt St, Laredo, TX 78040Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%8/27/204663.7 63.7 68.6 0.02 %
7 BRANCHES CORPORATION dba Nikos(#,^)410 Pearl St, Lake Wales, FL 33853Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/27/20316.8 6.8 5.9 — %
Island Kaii & Company dba Island Kaii(#,^)20140 Livemois, Detroit, MI 48221Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/26/20317.1 7.1 7.1 — %
Tapuya Brands Corporation(#,^)23 Leroy St, New York, NY 10014Nonstore Retailers Term LoanPrime plus 2.75%8/26/203163.2 63.2 54.2 0.01 %
HHD Aviation, LLC dba Great Milwaukee Training and Testing Center(#,^)2820 Bobmeyer Rd, Hanger C-7, Hamilton, OH 45015Real EstateTerm LoanPrime plus 2.75%8/26/204646.1 46.1 51.7 0.01 %
Premiere Inc(#,^)615 N Landry Dr, New Iberia, LA 70563Support Activities for MiningTerm LoanPrime plus 2.75%8/25/2031368.1 368.1 384.4 0.10 %
Gralyn Fabrication & Machining LLC  (#,^)1119 Bluff Ridge Rd, Waynesburg, PA 15370Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%8/25/20318.5 8.5 7.3 — %
Trinity Lumber and Building Supply, Inc(#,^)1231 East Cypress Ave, Redding, CA 96002Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%8/25/204669.1 69.1 75.3 0.02 %
Swick & Son Enterprises, Inc(#,^)108 Mashell Ave North, Eatonville, WA 98328Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/25/203117.0 17.0 14.7 — %
Christopher John Looney Agency Inc.(#,^)426 South Atlanta St, Unit 110, Roswell, GA 30075Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/25/20312.5 2.5 2.2 — %
Force3 Enterprises, LLLP(#,^)240 Hathway Dr, Stratford, CT 06615Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%8/25/2046193.2 193.2 206.4 0.05 %
Tiny's Gumbo Bar NYC LLC(#)275 Church St, New York, NY 10013Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/25/203249.7 49.7 43.6 0.01 %
MA Allen LLC dba Premier Martial Arts(#)380 East Bethany Dr, Allen, TX 75002Educational ServicesTerm LoanPrime plus 2.75%3/25/203223.6 23.6 20.3 0.01 %
CJNR LLC dba Parkhurst Motel(#,^)208 East Main St, Elma, WA 98541AccommodationTerm LoanPrime plus 2.75%8/24/204639.5 39.5 44.3 0.01 %
57
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Patoruzu, Inc. dba Sharkey's Cuts For Kids(#,^)18121 Tuckerton Rd, Ste 130, Cypress, TX 77433Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/20/20319.4 9.4 8.1 — %
Power Enterprise LLC(#,^)119 East 710 South Circle, Ivins, UT 84738Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/20/20313.0 3.0 2.6 — %
The Jar Circle, Inc dba Frida's Mexican Grill(#)3545 Merrick Rd, Seaford, NY 11783Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/20/203229.3 29.3 25.4 0.01 %
PCH Ventures, LLC dba Chop Stop(#,^)18515 Brookhurst St, Fountain valley, CA 92618Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/20/203139.0 39.0 40.7 0.01 %
Dallas MTV, LLC(#,^)2911 Turtle Creek Blvd, Ste 300, Dallas, TX 75219Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/20/203117.7 17.7 15.1 — %
Royal Home Care and Staffing LLC(#,^)453 Oakton Rd, Odenton, MD 21113Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/20/203130.5 30.5 31.8 0.01 %
Kiwi Vision, LLC(#,^)27518 Portsmouth Ave, Hayward, CA 94545Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/19/20319.4 9.4 8.1 — %
Elizabeth K. Little and dba Mrs. Little's Tea and Toys(#,^)108 North Davis St, Hamilton, MO 64644Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/19/20312.5 2.5 2.7 — %
Derheim, Inc dba My Aquatic Services(#,^)601 Main Ave.W, West Fargo, ND 58078Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/19/2046160.9 160.9 166.2 0.04 %
Vida Meat Company LLC(#,^)1370 West Cheyenne Ave, North Las Vegas, NV 89030Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%8/19/203144.8 44.8 41.9 0.01 %
Luxury Tree Services LLC(#,^)5925 SW 69th St, Miami, FL 33413Forestry and LoggingTerm LoanPrime plus 2.75%8/18/203194.3 94.3 81.5 0.02 %
Glorious Training Group Inc dba F45 Training Murabella(#,^)185 Murabella Pkwy, St. Augustine, FL 32092Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/18/203114.2 14.2 12.9 — %
Hartwood Hospitality Labs, Inc.(#,^)1312 GILBERT ST, CHARLES CITY, IA 50616AccommodationTerm LoanPrime plus 2.75%8/17/204639.5 39.5 44.3 0.01 %
Cezary A. Lapa dba Globe Polska Ksiazka(#,^)5747 West Irving Park Rd, Chicago, IL 60634Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%8/17/20316.6 6.6 5.7 — %
Transatlantic Translations Company, LLC(#,^)411 Theodore Fremd Ave, Rye, NY 10580Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/16/203123.6 23.6 20.2 0.01 %
Baite Auto Sales LLC(#,^)2865 Suwanee Rd, Columbus, OH 43224Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%8/13/204611.4 11.4 12.7 — %
Revive Aesthetics & Wellness, LLC(#,^)175 Main St, East Greenwich, RI 02818Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/13/203126.0 26.0 23.1 0.01 %
DTT ENTERPRISES, LLC(#,^)6565 Austin Hope Ave, Las Vegas, NV 89118Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/13/203133.0 33.0 28.3 0.01 %
Bird's Nest Florist & Gifts, LLC(#,^)549-E College Park Rd, Ladson, SC 29456Miscellaneous Store Retailers Term LoanPrime plus 2.75%8/12/20315.6 5.6 4.8 — %
Montauk Donut Group, Inc dba Dunkin Donuts(#)1669 Montauk Hwy, Bellport, NY 11713Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/12/203294.9 94.9 99.6 0.03 %
Lovely Moments Iowa Photography, LLC(#,^)527 Broad St, Story City, IA 50248Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/11/20312.8 2.8 2.4 — %
Game Time Vending, LLC(#,^)10105 Amberwood Rd Stes #1 and #5, Fort Myers, FL 33913Nonstore Retailers Term LoanPrime plus 2.75%8/11/20311,179.7 1,179.7 1,096.1 0.28 %
58
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

KBO Investment and Sterling HTS KBO Investments LLC(#,^)748 West Big Beaver Rd, Troy, MI 48084Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/10/203143.4 43.4 37.9 0.01 %
C4 Technologies Inc.(#)171 C Ave, Ste C, Coronado, CA 92118Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/6/20316.0 6.0 5.8 — %
The Hiccup Inc(#,^)158 Humphrey St, Swampscott, MA 01907Miscellaneous Store Retailers Term LoanPrime plus 2.75%8/6/203119.5 19.5 16.8 — %
Dara, Inc.(#,^)29 Old Planters Rd, Beverly, MA 01915Nonstore Retailers Term LoanPrime plus 2.75%8/5/203131.1 31.1 26.7 0.01 %
Ronald L. McFarlain dba Cajun Connection(#,^)2958 IL-178, North Utica, IL 61373Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/5/204633.1 33.1 35.2 0.01 %
C&J General Engineering(#,^)3060 Thorntree Dr #10, Chico, CA 95973Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/4/204627.1 27.1 26.0 0.01 %
Kings Autoshow Inc and Grand Auto Group LLC(#,^)5815 Church Ave, Brooklyn, NY 11203Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%7/30/2031109.1 109.1 96.0 0.02 %
Melissa S. Scharf(#,^)14313 Califa St, Sherman Oaks, CA 91401Social AssistanceTerm LoanPrime plus 2.75%7/30/20318.4 8.4 7.2 — %
Patriot Services Group Inc(#,^)108 Phillips Circle, Columbiana, AL 35051Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/30/203121.1 21.1 18.1 — %
GLH delivering services Inc and Paisley Logistics Inc(#,^)121 Pine Rd, Easley, SC 29642Couriers and MessengersTerm LoanPrime plus 2.75%7/30/2031260.4 260.4 223.3 0.06 %
Blue Water Dynamics, LLC dba Dougherty Manufacturing & Solace Boats(#,^)308 South Old County Rd, Edgewater, FL 32132Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%7/30/20461,140.6 1,140.6 1,278.5 0.32 %
Crux Solutions LLC dba Waddell's Riverside Funeral Directors(#)6938 Westover St, Houston, TX 77087Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/30/203243.5 43.5 41.3 0.01 %
The Travel Society LLC;Religious Travel International LLC(#,^)650 S Cherry St, Denver, CO 80246Administrative and Support ServicesTerm LoanPrime plus 2.75%7/30/203181.7 81.7 70.1 0.02 %
J &C May Properties, LLC.(#,^)315 Sylamore Ave, Mountain View, AR 72560Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%7/30/203118.5 18.5 15.9 — %
100% Permanent Inc.(#,^)1315 N. Larrabee St, Chicago, IL 60610Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/30/204632.5 32.5 34.6 0.01 %
CIRLABS, INC,Outcome Driven Innovation and Spracht Inc(#,^)974 Commercial St Ste 101, Palo Alto, CA 94043Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%7/30/203148.7 48.7 41.8 0.01 %
AA Power Equipment, Inc(#,^)999 Mansell Rd, Ste B, C, & D, Roswell, GA 30076Nonstore Retailers Term LoanPrime plus 2.75%7/30/203175.0 75.0 64.3 0.02 %
Charles P Carpenter dba All-Ways Pumping(#,^)5701 Beckford Ave, Tarzana, CA 91356Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/30/2031105.4 105.4 103.4 0.03 %
On Spot Techs Ltd dba Wi-Fi Surveyors(#,^)4732 Dixie Dr South, Dayton, OH 45439Repair and MaintenanceTerm LoanPrime plus 2.75%7/29/204616.9 16.9 17.8 — %
Global Packaging Solutions, Inc(#,^)6259 Progressive Ave, San Diego, CA 92154Miscellaneous ManufacturingTerm LoanPrime plus 2.75%7/29/2031210.9 210.9 187.6 0.05 %
59
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

GN Enterprises LLC(#,^)4507 SE Ramona St, Portland, OR 97206Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%7/29/204684.3 84.3 91.3 0.02 %
Kamboj Investments Inc dba Chicago's Pizza with Twist(#)1156 South Main St, Manteca, CA 95337Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/29/203130.3 30.3 26.1 0.01 %
Dream Splash International LLC(#,^)650 S Cherry St, Denver, CO 80246Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/29/203179.7 79.7 68.6 0.02 %
Karson A Schepp(#,^)8715 Hwy 14, Kramer, ND 58748Crop ProductionTerm LoanPrime plus 2.75%7/29/203132.8 32.8 29.5 0.01 %
Tiny Tots Kingdom Inc(#,^)4961 N Dixie Hwy Stes 2-6, Oakland Park, FL 33334Social AssistanceTerm LoanPrime plus 2.75%7/29/203118.7 18.7 16.1 — %
Cherich Enterprises dba Yogasix Pasadena(#,^)277 W Green St Ste 110, Pasadena, CA 91105Educational ServicesTerm LoanPrime plus 2.75%10/29/203150.0 50.0 43.3 0.01 %
Five Rivers 1938 Enterprises, Inc dba The Hummus Republic(#)3032 W Jack London Blvd, Livermore, CA 94551Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/28/203232.8 32.8 28.7 0.01 %
Travis Construction Company, LLC(#,^)11258 Bayou Bernard Rd, Gulfport, MS 39503Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/28/203128.1 28.1 24.9 0.01 %
WLG Inc(#,^)6257 West Ave J9, Lancaster, CA 93536Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%7/27/2046179.4 179.4 188.6 0.05 %
Jaime Gervasi & Associates LLC(#,^)3243 Eastern Ave, Baltimore, MD 21224Real EstateTerm LoanPrime plus 2.75%7/27/203114.5 14.5 13.2 — %
Clinically Speaking, LLC(#,^)207 N Davies Rd, Lake Stevens, WA 98258Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/27/2031337.4 337.4 289.4 0.07 %
K Wallace, LLC dba Fit Learning Columbus(#,^)6631 Commerce Pkwy Ste G, Dublin, OH 43085Educational ServicesTerm LoanPrime plus 2.75%7/26/20313.2 3.2 2.7 — %
Mattress and Rug outlet LLC(#,^)1818 State St, Schenectady, NY 12304Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%7/23/203156.2 56.2 58.2 0.01 %
Tarun LLC, dba Signature Wine & Liquor(#)325 South Limestone, Lexington, KY 40508Food and Beverage Stores Term LoanPrime plus 6.5%7/23/20315.9 5.9 5.8 — %
Big Brand Management Ltd. Co.(#,^)512 East 11th St, Houston, TX 77008Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%7/23/204678.9 78.9 88.5 0.02 %
Delbello Enterprises LLC dba Il Portico(#,^)273 West Route 130 South, Burlington, NJ 08016Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/23/203145.7 45.7 47.7 0.01 %
Premier Tech Security, LLC(#,^)1616 Westgate Circle, Ste 111, Brentwood, TN 37027Administrative and Support ServicesTerm LoanPrime plus 2.75%7/23/203116.0 16.0 13.7 — %
52 Tran, LLC(#,^)773 South MacArthur Blvd, Ste 205, Coppell, TX 75019Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/23/203116.5 16.5 14.1 — %
L.A. Crescent LLC dba Aamco Car Care Center(#,^)1010 East 6th Ave, Stillwater, OK 74074Repair and MaintenanceTerm LoanPrime plus 2.75%7/23/203128.1 28.1 24.8 0.01 %
GSK Industries Inc dba Quality One Pool Management(#,^)3217 W Tompkins Ave, Las Vegas, NV 89103Administrative and Support ServicesTerm LoanPrime plus 2.75%7/23/203114.1 14.1 12.1 — %
All Regional Recyclers of Wood LLC and Superior Carting & Waste System(#,^)104 Wooster St, Bethel, CT 06801Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%7/22/203151.5 51.5 48.4 0.01 %
60
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Ever Prosperous Realty Inc(#,^)430 S Chandler Ave, Monterey Park, CA 91754Real EstateTerm LoanPrime plus 2.75%7/22/203113.7 13.7 11.8 — %
Profit Stewards LLC dba AAMCO Transmissions of Phoenixville(#,^)458 Schuylkill Rd, Phoenixville, PA 19460Repair and MaintenanceTerm LoanPrime plus 2.75%7/21/20315.0 5.0 4.3 — %
TDI Global Solutions Inc(#,^)1 Riverfront Plaza, Ste 12, Lawrence, KS 66044Paper ManufacturingTerm LoanPrime plus 2.75%7/21/2031187.5 187.5 167.9 0.04 %
Basha Home Improvement LLC(#)41 Van Houten Ave, Jersey City, NJ 07305Construction of BuildingsTerm LoanPrime plus 6.5%7/21/20312.4 2.4 2.4 — %
Jeragardens Wedding Rentals LLC,(#)5842 South 1150 West, Ogden, UT 84405Rental and Leasing ServicesTerm LoanPrime plus 6.5%7/20/20316.0 6.0 5.8 — %
Ecos Consulting, LLC(#,^)1519 Roller Rd, Ocean Township, NJ 07712Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/20/203119.1 19.1 16.4 — %
110 Enterprises, LLC dba Boomerang Bar and Grill(#,^)110 Limekiln Rd, Unit 2, New Cumberland, PA 17070Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/20/2046273.1 273.1 299.0 0.08 %
Sparta Athletic Campus, LLC(#,^)115 Sparta Ave, Sparta, NJ 07871Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/20/2046211.0 211.0 235.0 0.06 %
K-M-P Auto Group LLC(#,^)1788 Austin Hwy, San Antonio, TX 78218Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%7/19/204631.0 31.0 34.3 0.01 %
Colorado Travel Solutions LLC(#,^)2895 Queen St, Colorado Springs, CO 80904Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%7/16/203164.0 64.0 54.9 0.01 %
Monarch Construction and Roofing LLC(#,^)700 Corporate Circle, Golden, CO 80401Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/16/203141.7 41.7 35.7 0.01 %
Rymax Electronics Inc(#,^)1805 5th Ave. Ste F, Bay Shore, NY 11706Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/8/204649.8 49.8 55.8 0.01 %
Accommodating Financial & Tax Services, LLC(#,^)5151 Monroe St, Toledo, OH 43623Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/8/203112.1 12.1 11.9 — %
The Iron Smith LLC dba Anytime Fitness Nevada(#,^)1818 Fawcett Pkwy, Nevada, IA 50201Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/8/203127.6 27.6 23.7 0.01 %
156 W. Salon & Boutique, llc dba Shabby Shek Salon and Boutique(#,^)156 West Tioga St, Tunkhannock, PA 18657Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/2/204639.5 39.5 39.9 0.01 %
Jason M. Eberhart dba State Farm(#,^)600 Allegheny St, Jersey Shore, PA 17740Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/2/204625.1 25.1 25.7 0.01 %
Afrodisiac Enterprises LLC dba Afrodisiac Nola(#,^)5363 Franklin Ave, New Orleans, LA 70122Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/1/204629.6 29.6 31.8 0.01 %
Sheldon T Banks LLC(#,^)2340 W Carpenter Rd, Flint, MI 48505Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/30/204657.4 57.4 64.3 0.02 %
Holland Holdings LLC(#,^)1102 Blackbriar Cir Ne, Hartselle, AL 35640Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/30/2031186.2 186.2 165.3 0.04 %
Tidal Commerce Inc(#,^)2100 Clearwater Dr, Oak Brook, IL 60523Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%6/30/2031304.9 304.9 261.4 0.07 %
Royal Restaurants, LLC(#,^)138 Griffin Rd, Ruston, LA 71270Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/2031232.3 232.3 222.1 0.06 %
Gene Properties LLC,4 Winnapaug Rd LLC and,144 Atlantic Ave LLC(#,^)149 Atlantic Ave, Westerly, RI 02891AccommodationTerm LoanPrime plus 2.75%6/30/20461,107.1 1,107.1 1,241.0 0.31 %
61
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Craftwork Carpentry and Millwork Inc.(#,^)2777 S Financial Ct., Sanford, FL 32773Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/30/2031108.0 108.0 93.0 0.02 %
Zollner Enterprises, Inc(#,^)221 Hulls Chapel Rd, Fredericksburg, VA 22406Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/30/203146.5 46.5 40.0 0.01 %
Martin C. Liu & Associates, PLLC(#,^)135 Bowery St, New York, NY 10002Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/203146.5 46.5 48.6 0.01 %
Eagle's Eye Comfort Care Miramar LLC(#,^)6308 SW 27th St, Miramar, FL 33023Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/30/204664.6 64.6 69.4 0.02 %
Neil Hoss, D.M.D., LLC.(#,^)115 Hartford Turnpike, Tolland, CT 06084Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/30/203126.2 26.2 22.9 0.01 %
New York Equestrian Center Ltd(#,^)633 EAGLE AVE, WEST HEMPSTEAD, NY 11552Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/30/2046697.3 697.3 781.7 0.20 %
Kings Autoshow Inc dba Brooklyn Mitsubishi and Grand Auto Group LLC(#,^)5815 Church Ave, Brooklyn, NY 11203Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/30/203135.8 35.8 36.2 0.01 %
360 Concepts Group, LLC dba Bowl 360 Astoria(#,^)19-45 49th St, Astoria, NY 11105Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/29/2031108.9 108.9 93.4 0.02 %
Seema Aijaz Enterprises Inc dba Edible Arrangements(#,^)1040 South Broadway , Unit 6, Hicksville, NY 11801Food and Beverage Stores Term LoanPrime plus 2.75%6/29/203126.9 26.9 23.7 0.01 %
O.P.P. Presents LLC(#,^)15927 Pioneer Blvd, Norwalk, CA 90650Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/29/203113.4 13.4 11.5 — %
La Favorita Radio Network(#,^)4043 Geer Rd, Hughson, CA 95326Broadcasting (except Internet)Term LoanPrime plus 2.75%6/29/2046177.4 177.4 196.6 0.05 %
Little Imaginations Learning Center Inc(#,^)189 toll Gate Rd,, Warwick, RI 02886Social AssistanceTerm LoanPrime plus 2.75%6/29/2046112.6 112.6 116.4 0.03 %
CALTEL, INC.(#,^)2309 Acie Ave, Conway, SC 29528Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%6/29/203184.1 84.1 80.7 0.02 %
Yogi's Logistics Inc and 9371 Truck Yard LLC(#,^)9371 Jackson Rd, Sacramento, CA 95826Truck TransportationTerm LoanPrime plus 2.75%6/29/2046139.7 139.7 156.6 0.04 %
HTE Acquisition, LLC dba Hi Tech Engineering(#,^)4600, 4610, and 4620 Calle Quetza, Camarillo, CA 93012Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/28/203150.2 50.2 45.5 0.01 %
Troung Enterprises Inc(#,^)1305 SW 107th Ave, Miami, FL 33174Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/28/20319.3 9.3 8.0 — %
KDKB Properties, LLC and US Press, LLC(#,^)1628-A James P. Rodgers Dr, Valdosta, GA 31601Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%6/25/2031680.8 680.8 604.0 0.15 %
Nevada Adult Day healthcare Centers Inc(#,^)2008 S Jones Blvd, Las Vegas, NV 89146Social AssistanceTerm LoanPrime plus 2.75%6/25/203141.9 41.9 43.7 0.01 %
The Buckeye Health Group, LLC(#,^)8120 Walcot Ln, Cincinnati, OH 45249Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/203146.5 46.5 40.6 0.01 %
J & J Rocket Fizz General Partnership(#,^)3155 Outlet Dr Space E020, Edinburgh, IN 46124Food and Beverage Stores Term LoanPrime plus 2.75%6/25/203114.0 14.0 12.0 — %
US Press, LLC(#,^)1628-A James P. Rodgers Dr, Valdosta, GA 31601Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%6/25/2046538.9 538.9 563.9 0.14 %
Alpha Variance Solutions, LLC(#,^)48 Western Dr, Ardsley, NY 10502Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/203169.8 69.8 60.7 0.02 %
62
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

T.A.L.E.N.T. Leadership LLC dba T.A.L.E.N.T. Leadership Napoli's(#,^)4280 Lavon Dr, Garland, TX 75040Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/25/203127.0 27.0 23.1 0.01 %
CURVE MART C-STORE AND CAJUN DELI LLC dba Curve Mart(#,^)44063 Hwy 431, Saint Amant, LA 70774Gasoline Stations Term LoanPrime plus 2.75%6/25/2046182.1 182.1 194.9 0.05 %
Kevin Head Agency, LLC(#,^)941 Moores Ferry Rd, Villa Rica, GA 30180Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%6/25/204675.2 75.2 84.3 0.02 %
Craftwork Carpentry and Millwork Inc(#,^)2777 S Financial Ct., Sandford, FL 32773Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/24/2046177.1 177.1 188.0 0.05 %
DAVIS WINES LLC and BRICK & MORTAR WINES, LLC(#,^)25 Healdsburg Ave Bld 20, Healdsburg, CA 95448Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%6/24/203186.6 86.6 79.4 0.02 %
Northwest Evergreen Innovations, LLC and James Hamilton Gregersen(#,^)6791 Bethel Rd SE, Port Orchard, WA 98367Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/24/204651.8 51.8 57.4 0.01 %
Pampanguena Market Place Corp(#,^)18623 SW 107th Ave, Miami, FL 33157Food and Beverage Stores Term LoanPrime plus 2.75%6/23/204647.8 47.8 47.9 0.01 %
The AAC Speech Clinic, LLC and Red Rock Neurorehabilitation Center(#,^)9260 West Sunset Rd, Ste 204, Las Vegas, NV 89148Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/23/203132.7 32.7 28.1 0.01 %
JC's Tall Glass Inc(#,^)2810 Hypoluxo Rd, Lantana, FL 33462Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/23/2046206.5 206.5 223.5 0.06 %
2B St. Marks, Inc dba Duetto(#,^)540 Greene St, Unit 1, Key West, FL 33040Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/22/203119.6 19.6 16.7 — %
Prestige Nationwide, LLC dba Eastern Standard(#,^)1131 Burke St, Winston-Salem, NC 27101Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/22/204649.4 49.4 51.6 0.01 %
Vance Ewing LLC dba The Bow & Barrel Sportsmen Center(#,^)22940 Harlan Ln, St Robert, MO 65584Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/22/204649.2 49.2 53.8 0.01 %
Bluewater Laundry & Linen, llc(#,^)2315 Main St, Loris, SC 29569Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/21/204670.6 70.6 79.0 0.02 %
Vancole Investments, Inc(#,^)876 Virginia Ave, Hapeville, GA 30354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/203166.5 66.5 56.9 0.01 %
Bluewater Laundry & Linen, LLC(#,^)2315 Main St, Loris, SC 29569Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/21/2031112.4 112.4 104.6 0.03 %
Two Mean Beans, LLC dba Coffee and Crepes(#,^)315 CrossRds Blvd, Floor G, Cary, NC 27518Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/203110.8 10.8 9.6 — %
Francis L Bailey Jr dba Carolina GPS Services(#,^)1545 Langston Dr, Johns Island, SC 29455Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/21/203119.0 19.0 16.3 — %
Ellerman Engineerting & Innovations, Inc and R & S Properties and Hold(#,^)4444 Forest St, Leonard, MI 48367Machinery ManufacturingTerm LoanPrime plus 2.75%6/21/203143.3 43.3 40.7 0.01 %
Butcher Block of Woodland Park, LLC(#,^)320 S Baldwin St, Woodland Park, CO 80863Food and Beverage Stores Term LoanPrime plus 2.75%6/21/203114.0 14.0 12.0 — %
K&R Enterprises III Inc dba The Frozen Cow(#,^)6710 Post Rd, North Kingstown, RI 02852Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/18/204635.5 35.5 38.5 0.01 %
63
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Subhash Joshi LLC dba Mata Hardware(#,^)6370 Mae Anne Ave, Stes 1 and 2, Reno, NV 89523Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/18/203132.0 32.0 27.8 0.01 %
Semper Foods, LLC(#,^)7000 W. Palmetto Park Rd,, Boca Raton, FL 33433Wholesale Electronic Markets and Agents and Brokers Term LoanPrime plus 2.75%6/15/203146.5 46.5 39.8 0.01 %
Integrated Rehabiilitation Inc(#,^)10340 SE Division St, Portland, OR 97266Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/15/2031141.7 141.7 133.0 0.03 %
360 Cloud Solutions, LLC and 360 Cloud Apps, LLC(#,^)299 S Main St, Salt Lake City, UT 84111Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/2031329.0 329.0 281.6 0.07 %
AAAK Investments LLC(#,^)19595 15 Mile Rd, Clinton Twp, MI 48035Repair and MaintenanceTerm LoanPrime plus 2.75%6/14/204640.6 40.6 44.8 0.01 %
Edgar I Cordoba dba Edgar Cordoba Insurance Agency(#,^)9201 Dyer St, El Paso, TX 79924Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%6/14/203114.9 14.9 12.8 — %
21st Century Living LLC dba 21st Century Concierge(#,^)33 Fitchett St, Poughkeepsie, NY 12601Construction of BuildingsTerm LoanPrime plus 2.75%6/11/203123.3 23.3 23.8 0.01 %
The Ogden Group of Rochester, Inc(#,^)78 Brunswick St, Rochester, NY 14607Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/11/203110.2 10.2 8.8 — %
BearWaters Brewing Company(#,^)101 Park St, Canton, NC 28716Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/11/204664.0 64.0 70.7 0.02 %
Dulceria NYC Inc(#,^)2220 Frederick Douglass Blvd, New York, NY 10026Food ManufacturingTerm LoanPrime plus 2.75%6/10/20319.3 9.3 8.2 — %
Halikamai Inc dba Neighborhood Beer and Wine(#,^)510 Farm Market Rd 718, Unit A, Newark, TX 76071Gasoline Stations Term LoanPrime plus 2.75%6/10/203118.6 18.6 19.4 — %
LVM Constructiion LLC(#,^)194 N Grove St, East Orange, NJ 07017Administrative and Support ServicesTerm LoanPrime plus 2.75%6/10/203114.0 14.0 12.1 — %
899 Toscanini, LLC(#,^)899 Main St, Cambridge, MA 02139Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/203128.9 28.9 28.8 0.01 %
Tri-Span Construction LLC dba Lawrence County Sand and Stone(#,^)136 Southland Dr, Louisa, KY 41230Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%6/8/203141.9 41.9 43.3 0.01 %
Swantown Inn & Spa LLC(#,^)1431 11th Ave SE, Olympia, WA 98501AccommodationTerm LoanPrime plus 2.75%6/8/204634.4 34.4 38.6 0.01 %
La Taqueria, Inc.(#,^)10 Greenwich Ave, Greenwich, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/3/203123.3 23.3 19.9 0.01 %
Center for Jewish Addiction Rehabilitation, LLC dba Tikvah Lake Recovery(#,^)6549 Rajol Dr, Sebring, FL 33875Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/3/203132.6 32.6 34.0 0.01 %
Tec-Com Low Voltage Solutions Inc(#,^)2045 Live Oak Blvd, Yuba City, CA 95991Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/2/203132.6 32.6 28.1 0.01 %
Amazing G, LLC and Victoria Armstrong-Mensah(#,^)3030 N Saranac, Mesa, AZ 85207Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%5/28/203124.5 24.5 24.1 0.01 %
Aeffect, Inc(#,^)5600 N River Rd, Ste 800, Rosemont, IL 60018Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/28/203137.0 37.0 31.7 0.01 %
Shericka Newsome dba Little Sunshine's Academy(#,^)474 N Chew Rd, Hammonton, NJ 08037Social AssistanceTerm LoanPrime plus 2.75%5/27/20314.6 4.6 4.0 — %
64
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Neuline Health Management LLC(#,^)1402 S Custer Rd, McKinney, TX 75070Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/27/203174.4 74.4 63.7 0.02 %
Keystone Contracting, LLC dba Keystone Roofing and Siding, LLC(#,^)205 Route 9 N, freehold, NJ 07728Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/27/2046184.0 184.0 189.5 0.05 %
Compass Technical Services, Inc.(#,^)2600 Gravel Dr, Building 7, Fort Worth, TX 76118Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/27/203123.1 23.1 19.8 0.01 %
Eckles Generation Heating & Air Service, Inc(#,^)6000 Poplar Ave, Memphis, TN 38119Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/26/20314.9 4.9 4.7 — %
ELIOT'S ADULT NUT BUTTERS LLC(#,^)1140 SE 7th, Ste 190, Portland, OR 97214Nonstore Retailers Term LoanPrime plus 2.75%5/26/203110.4 10.4 8.9 — %
Dr. Karissa Walton, PLLC dba The Mobile Health Doc(#,^)140 N Granite St, Prescott, AZ 86301Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/26/203144.8 44.8 40.3 0.01 %
Rachel Reyes-Bergano, D.O. Inc dba Contempo Aesthetics(#,^)708 E Colorado Blvd, Pasadena, CA 91101Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/26/203161.9 61.9 53.0 0.01 %
BGS Consulting LLC dba Your Digital Canvas(#,^)5608 Malvey Ave, Fort Worth, TX 76107Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/25/20316.9 6.9 5.9 — %
Bock Technologies Inc.(#,^)11496 Luna Rd Ste 1200, Dallas, TX 75234Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/25/203132.4 32.4 27.7 0.01 %
Hotel California Salon LLC dba Beverly Hills Lashes(#,^)872 Huntley Dr, West Hollywood, CA 90069Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/203125.4 25.4 21.8 0.01 %
Ecru Designs LLC(#,^)275 North Wyoming Ave, South Orange, NJ 07079Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%5/24/203158.2 58.2 49.9 0.01 %
JJBM LLC dba Alumni Grill(#,^)3316 Pacific Ave, Wildwood, NJ 08260Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/21/204620.1 20.1 22.6 0.01 %
League One Logistics, LLC(#,^)150 Hiram Industrial Dr, Hiram, GA 30141Truck TransportationTerm LoanPrime plus 2.75%5/21/204673.7 73.7 79.7 0.02 %
LEX-MAR SERVICE INC(#,^)12278 NW 106th Court, Medley, FL 33178Repair and MaintenanceTerm LoanPrime plus 2.75%5/21/204619.7 19.7 21.1 0.01 %
Hankemeier Holdings LLC dba Grow Salon(#,^)205 W 6th St, Ste 105 & 110, Georgetown, TX 78626Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/20/203117.6 17.6 15.0 — %
Vernon Alexander dba Southern Ohio Hunting Preserve(#,^)31625 Goosecreek Rd, McArthur, OH 45651Animal Production and AquacultureTerm LoanPrime plus 2.75%5/19/203121.7 21.7 22.7 0.01 %
Compass CFO Holdings, LLC(#,^)4400 Rt 9 Ste 1000, Freehold, NJ 07728Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/19/203111.3 11.3 9.6 — %
Woodzzy LLC dba Dba Woodzzy Bar & Resturant(#)1133 Clarkson Ave, Brooklyn, NY 11212Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/19/2047192.9 192.9 209.5 0.05 %
Motor Messenger NYC Inc(#,^)81-36 Baxter Ave, Queens, NY 11373Couriers and MessengersTerm LoanPrime plus 2.75%5/18/2031162.6 162.6 144.9 0.04 %
Earth Analytical Sciences, Inc.(#,^)4825 Ward Dr, Beaumont, TX 77705Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/17/203187.6 87.6 79.7 0.02 %
Rev Motorsports, LLC dba Speed Concept(#,^)20745 SW Tualatin Valley Hwy, Ste 120, Aloha, OR 97003Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%5/13/203123.8 23.8 20.3 0.01 %
Silverado Sales Inc dba Husker Sit N Sleep(#,^)2120 Central Ave, Kearney, NE 68847Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%5/11/203117.6 17.6 15.0 — %
65
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Clavismen LLC dba Katy Wines and Spirits(#,^)5901 B Hwy Blvd, Katy, TX 77494Food and Beverage Stores Term LoanPrime plus 2.75%5/7/20317.9 7.9 6.8 — %
Foy Commerce LLC(#)1725 Park Ln S, Ste 2,, Jupiter, FL 33458Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/5/20315.9 5.9 5.7 — %
Hank Thomas Performance(#,^)917 Dixie Club Rd, Winston-Salem, NC 27107Nonstore Retailers Term LoanPrime plus 2.75%5/5/203132.4 32.4 32.3 0.01 %
Boyd's Cardinal Hollow Winery Corp dba Boyd's Cardinal Hollow Winery(#,^)1830 West Point Pike, West Point, PA 19486Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%5/4/204688.4 88.4 97.8 0.02 %
Grover Jackson Engineering, LLC(#,^)1880 Campbellsville Rd, Pulaski, TN 38478Miscellaneous ManufacturingTerm LoanPrime plus 2.75%4/30/204653.0 53.0 56.2 0.01 %
NebulOS, Inc(#,^)5428 Twilight Way, Parker, CO 80237Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/203155.8 55.8 49.4 0.01 %
3G Graphix LLC dba Elemento Graphics(#,^)7160 Zionsville Rd, Indianapolis, IN 46268Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/203113.2 13.2 11.6 — %
Thomas Wayne Belcher Jr dba Area 51 Tattoo Body Piercing & Supply(#,^)230 Broadway St, Jackson, OH 45640Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/29/204611.4 11.4 12.5 — %
5 Star Renovations, Inc. and Five Star Group, Inc.(#,^)2997 US-29, Moreland, GA 30259Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/29/203120.1 20.1 19.7 — %
Cajun Made Charters, L.L.C(#,^)27900 Hwy 1, Golden Meadow, LA 70357Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%4/28/203142.7 42.7 41.1 0.01 %
822 GROUP LLC(#,^)136 Treehaven St, Gaitherburg, MD 20878Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/28/203145.9 45.9 39.3 0.01 %
G.A.P. Mechanical Inc.(#,^)2500 North Forsyth Rd, C29, Orlando, FL 32807Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/28/203120.6 20.6 18.0 — %
Janie Lacy & Associates, LLC dba Life Counseling Solutions(#,^)670 N Orlando Ave, #103, Maitland, FL 32751Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/26/204633.4 33.4 36.6 0.01 %
Max Rosin & Associates, Inc(#,^)37-43 West 14th St, Ste 304, New York, NY 10011Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/23/203152.7 52.7 45.1 0.01 %
J-Tech Industries Inc(#,^)232 Alexandria Dr, Mooresville, NC 28115Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/23/20316.0 6.0 5.1 — %
Acra Cast, Inc.(#,^)1837 First St, Bay City, MI 48708Primary Metal ManufacturingTerm LoanPrime plus 2.75%4/22/203119.4 19.4 18.9 — %
Wells Cutting Edge, LLC(#,^)4201 North Cochrane Ln, Erda, UT 84074Administrative and Support ServicesTerm LoanPrime plus 2.75%4/22/203132.1 32.1 28.0 0.01 %
Twenty Ten Agency, LLC(#,^)340 S Lemon Avnue, Walnut, CA 91789Educational ServicesTerm LoanPrime plus 2.75%4/21/20313.7 3.7 3.1 — %
AMERICAN CINEMA INSPIRES, INC and CEO Multimedia, Inc(#,^)15363 Victory Blvd, Van Nuys, CA 91406Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%4/20/203132.1 32.1 27.5 0.01 %
Oregon Glass Repair, LLC dba SuperGlass Windshield Repair(#,^)2972 SE 38th Court, Hillsboro, OR 97123Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/203115.8 15.8 13.6 — %
Tierra Corrosion Control, Incorporated(#,^)1608 Schofield Ln, Farmington, NM 87401Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/16/203122.9 22.9 23.9 0.01 %
66
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Gateway Veterinary Services P.C. dba Liberty Animal Clinic(#,^)9212 Liberty Ave, Ozone Park, NY 11417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/15/203141.3 41.3 39.2 0.01 %
RV Solar LLC(#)3442 E Bulk Ln, Oak Creek, WI 53154Specialty Trade ContractorsTerm LoanPrime plus 6.5%4/14/20315.8 5.8 5.7 — %
Lockett Trucking and Transport LLC(#)612 Colebridge Dr, Blacklick, OH 43004Truck TransportationTerm LoanPrime plus 6.5%4/14/20315.8 5.8 5.7 — %
Stephanie Ann Doty(#)82 Diggins Dr, Folsom, CA 95630Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%4/14/20313.4 3.4 3.3 — %
College Economy Inc(#,^)679 Wedgewood Dr, Hanover Park, IL 60133Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/13/203132.0 32.0 27.4 0.01 %
Gerald Scott Lyda and Marvina Michae Lyda(#,^)3555 Chimney Rock Rd, Hendersonville, NC 28792Wood Product ManufacturingTerm LoanPrime plus 2.75%4/9/204632.2 32.2 36.0 0.01 %
Motor City Bakery Inc dba Mexi bake(#,^)8100 Radcliffe St, Detroit, MI 48210Food ManufacturingTerm LoanPrime plus 2.75%4/7/2046102.6 102.6 110.9 0.03 %
La Dolce Vita Water Sports LLC,LDV GOLF CART & BIKE RENTALS LLC(#,^)408 Kelly Plantation Dr, Destin, FL 32541Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/31/2031326.1 326.1 340.0 0.09 %
Walking Urgent Care Inc(#,^)10308 West Sample Rd, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/2031228.0 228.0 210.9 0.05 %
Suncoast Premier Medical, LLC and Mario R Perez MD PA(#,^)1239 US-27, Clermont, FL 34714Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/204699.4 99.4 102.8 0.03 %
Barrett Enterprises, LLC(#,^)920 N Columbia St, Milledgeville, GA 31061Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/31/203119.2 19.2 16.5 — %
TK Cleaning and Lawn Service LLC(#,^)4449 Beechaven Dr, Rock Hill, SC 29732Administrative and Support ServicesTerm LoanPrime plus 2.75%3/31/204624.5 24.5 27.5 0.01 %
Quality Sound Communications, Inc dba Technology Source(#,^)1551 North Tustin Ave, Ste 125, Santa Ana, CA 92705TelecommunicationsTerm LoanPrime plus 2.75%3/31/2031122.2 122.2 104.7 0.03 %
TK Cleaning and Lawn Service LLC(#,^)4449 Beechaven Dr, Rock Hill, SC 29732Administrative and Support ServicesTerm LoanPrime plus 2.75%3/31/2031110.9 110.9 101.1 0.03 %
Trailer Marketing Services Inc(#,^)4560 State Route 233, Clinton, NY 13323Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/31/204666.1 66.1 74.1 0.02 %
Batteries in a Flash.com, Inc.(#,^)720 W Cheyenne Ave, North Las Vegas, NV 89030Nonstore Retailers Term LoanPrime plus 2.75%3/31/2046100.7 100.7 105.6 0.03 %
Knight Settlement Sand & Gravel, LLC(#,^)7291 Knight Settlement Rd, Bath, NY 14810Mining (except Oil and Gas)Term LoanPrime plus 2.75%3/31/2031151.7 151.7 133.8 0.03 %
Barrett Enterprises, LLC dba Barrett and Sons Used Cars(#,^)920 N Columbia St, Milledgeville, GA 31061Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/31/204643.6 43.6 42.4 0.01 %
Statewide Health Care, Inc(#,^)102 Oglethorpe Professional Court, Savannah, GA 31406Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/203156.6 56.6 48.6 0.01 %
Tober Building Company, LLC(#,^)3351 Brecksville Rd, Richfield, OH 44286Construction of BuildingsTerm LoanPrime plus 2.75%3/31/2031585.9 585.9 519.0 0.13 %
Thomson Holdings Enterprises LLC dba Volusia County Towing(#,^)345 8th St, Daytona Beach, FL 32117Support Activities for TransportationTerm LoanPrime plus 2.75%3/31/2046108.5 108.5 109.0 0.03 %
67
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Underground Toys USA, LLC dba Seven 20 and Wozniak Distribution(#,^)7626 Miramar Rd, San Diego, CA 92126Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/30/2031262.6 262.6 224.8 0.06 %
Bojax Auto Collision, Inc dba Bojax Auto Body Repair and Seman(#,^)4712 Fernlee Ave, Royal Oak, MI 48073Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/204623.3 23.3 24.0 0.01 %
RH All Around Repair, LLC(#,^)2008 Coahuila Rd, Odessa, TX 79763Repair and MaintenanceTerm LoanPrime plus 2.75%6/30/204650.2 50.2 52.8 0.01 %
Empire State Adjuster's Corp.DBA Frankie M’s Auto Body East(#,^)419 West Main St, Smithtown, NY 11787Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/2046172.2 172.2 175.5 0.04 %
Drake Dance Academy LLC(#,^)5790 Marble Creek Stree, Dublin, OH 43016Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%7/30/2046135.2 135.2 143.1 0.04 %
The Sign Company of Wilmington, Inc.(#,^)428 Landmark Dr, Wilmington, NC 28412Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/30/2046100.5 100.5 109.6 0.03 %
Bojax Auto Collision, Inc. dba Bojax Auto Body Repair(#,^)4712 Fernlee Ave, Royal Oak, MI 48073Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/203134.9 34.9 32.6 0.01 %
Kidz Choice Service Inc and Kidz Choice Holdings Inc(#,^)14-34 110th St, Flushing, NY 11356Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/2031191.6 191.6 164.0 0.04 %
Jason Watt Pictures, LLC(#,^)110 Broadway #507, Brooklyn, NY 11249Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/29/203116.9 16.9 14.5 — %
Markell Construction Inc(#,^)6248 N Woodstock St, Philadelphia, PA 19138Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/29/203115.6 15.6 13.4 — %
Signet Media Inc(#,^)630 S.1st St, San Jose, CA 95113Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/203173.0 73.0 71.7 0.02 %
QXC Communications, Inc(#,^)3785 North Federal Hwy, Ste 205, Boca Raton, FL 33431TelecommunicationsTerm LoanPrime plus 2.75%3/29/203195.8 95.8 85.8 0.02 %
ALG-Health LLC and Axis LED Group, LLC(#,^)520 West Mulberry St, Bryon, OH 43506Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/29/20311,098.3 1,098.3 1,001.9 0.25 %
AUBURN ANALYTICAL LABS, INC(#,^)2107 Bay City Rd, Midland, MI 48642Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/26/203122.8 22.8 19.5 — %
Zebra Enterprises, LLC dba Shanty(#,^)213 3rd St, Eureka, CA 95501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/26/204633.3 33.3 37.3 0.01 %
Rob Smith dba Laundry Land(#,^)8913 Sierra Ave, Fontana, CA 92335Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/26/203117.8 17.8 15.5 — %
Ground Breakers Construction, Inc.(#,^)2292 a/k/a 2274 Hayride Rd, Lebec, CA 93243Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%3/26/203122.4 22.4 23.3 0.01 %
Johnson Diversified, Inc dba Plumbing Solutions(#,^)29802 Avenida De Las Banderas, Rancho Santa Margarita, CA 92688Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/26/203179.9 79.9 80.1 0.02 %
New Image Window & Doors Inc(#,^)705 Hennis Rd, Winter Garden, FL 34787Administrative and Support ServicesTerm LoanPrime plus 2.75%3/26/203124.1 24.1 25.1 0.01 %
Leo Marketing LLC(#,^)1127 E Rio Grande Ave, El Paso, TX 79902Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/26/203113.7 13.7 12.8 — %
Diversified Electric, LLC(#,^)1571 Mapledale St, Ferndale, MI 48220Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/26/203119.4 19.4 16.6 — %
68
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Party Town Chico LLC(#,^)1937 East 20th St #B6, Chico, CA 95928Miscellaneous Store Retailers Term LoanPrime plus 2.75%3/25/203113.6 13.6 11.6 — %
Allan Gilbert dba Allan Gilbert Builders(#,^)50 Jodi Dr, Belmont, NH 03220Construction of BuildingsTerm LoanPrime plus 2.75%3/25/203122.8 22.8 19.8 0.01 %
Millennium Family Practice LLC(#,^)6310 Steven Forest Rd, Columbia, MD 21045Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/25/203187.7 87.7 91.3 0.02 %
Companion Plus Care, LLC(#,^)19849 Middlebelt Rd, Livonia, MI 48152Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%3/25/2046129.4 129.4 130.3 0.03 %
Linh Luong and Loc Luong(#,^)1209 W Main St, Peroria, IL 61606Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/24/203179.9 79.9 79.9 0.02 %
Capco Swimming Pools LLC and. Capco Industries, LLC dba Premier Pools(#,^)5115 Savannah Green, Voy Omy, TX 78073Construction of BuildingsTerm LoanPrime plus 2.75%3/24/203132.0 32.0 31.2 0.01 %
Malik Dough L.L.C. and Steven L. Malik II(#,^)3347 Riverside Dr, North Tazewell, VA 24630Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/24/20319.6 9.6 8.3 — %
Oscar Rene Guzman and American United Construction LLC(#,^)12520 Taylor Rd, Houston, TX 77041Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/24/2031164.4 164.4 142.8 0.04 %
Blasco Tire LLC(#)960 Memorial Dr, Griffin, GA 30223Motor Vehicle and Parts Dealers Term LoanPrime plus 6.5%3/24/20315.8 5.8 5.6 — %
Sundown Audio, LLC(#,^)514 W 21st St, Newton, NC 28658Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%3/24/203191.3 91.3 78.4 0.02 %
Icebox Cafe, L.C and Icebox Pantry, LLC(#,^)219 NE 3rd St, Hallandale Beach, FL 33009Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/24/2031134.5 134.5 117.9 0.03 %
Clear Impact LLC and Clear Impact Inc(#,^)11300 Rockville Pike, #1001, Rockville, MD 20852Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/22/2031141.9 141.9 123.1 0.03 %
Spartan Technology Solutions, Inc.(#,^)125 Venture Blvd, Spartanburg, SC 29306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/22/203145.7 45.7 39.0 0.01 %
Tripark LLC(#,^)12630 Haynes Rd, Houston, TX 77066Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/19/2046147.3 147.3 151.3 0.04 %
JEJ LLC dba Hawaii Jerky Shop; DE.HI Foods(#,^)111 Sand Island Access Rd, Honolulu, HI 96819Food ManufacturingTerm LoanPrime plus 2.75%3/19/2046147.3 147.3 155.9 0.04 %
David Edwin Harries(#,^)5506 Riverside Dr, Chino, CA 91710Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%3/19/203113.7 13.7 11.7 — %
Richard Keith Robison Jr. Enterprises, Inc. dba R & R Restoration(#,^)1539 Apache Dr, Montgomery, TX 77316Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/19/203113.7 13.7 11.7 — %
Natalie Dress Designers, LLC DBA Azaria Bridal(#,^)3710 US Hwy 9, Space D218, Freehold, NJ 07728Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%3/19/2031297.1 297.1 257.0 0.07 %
Jemas, LLC Dba Medicine Shoppe St Charles(#,^)488 S 5th St, St Charles, MO 63301Health and Personal Care Stores Term LoanPrime plus 2.75%3/19/203182.3 82.3 70.4 0.02 %
Northern Services Inc(#,^)2266 Central St, Ste6, Richmond, CA 94801Administrative and Support ServicesTerm LoanPrime plus 2.75%3/18/203145.7 45.7 39.1 0.01 %
LT Johnson DDS PLLC dba Brueggen Dental Implant Center(#,^)14626 Bellaire Blvd., Houston, TX 77083Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/18/2031306.2 306.2 261.6 0.07 %
69
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Crystal H Thompson dba Advertise IT(#,^)718 N Main St, Norwood, CT 28128Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/18/203129.3 29.3 26.5 0.01 %
AZ Dropship LLC dba A-Z Trading Co(#,^)735 Crofton St SE, Grand Rapids, MI 49507Nonstore Retailers Term LoanPrime plus 2.75%3/18/203145.7 45.7 39.1 0.01 %
Zmetra Clear Span Structures, LLC(#,^)2 Old Worcester Rd, Dudley, MA 01571Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/18/2031114.3 114.3 112.1 0.03 %
WSCL, Inc(#,^)176 Rosa Court, Colton, CA 92324Construction of BuildingsTerm LoanPrime plus 2.75%3/18/203146.1 46.1 39.4 0.01 %
Ryan Doyle Enterprises, LLC dba Earthworkers Landscaping(#,^)802 Klinger Ln, Lebanon, PA 17042Administrative and Support ServicesTerm LoanPrime plus 2.75%3/17/203113.7 13.7 12.7 — %
Battle Forged Fitness, LLC dba CrossFit 1976(#,^)3251 East Stone Court, Eagle Mountain, UT 84005Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/17/204654.2 54.2 50.6 0.01 %
EXAGEN SOLUTIONS INC(#,^)32 Waverly Cir, Waverly, NY 12189Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/16/203148.5 48.5 41.4 0.01 %
274 Construction Group, Inc(#,^)420 Raleigh St, Ste F, Wilmington, NC 28412Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%3/16/2031169.3 169.3 155.1 0.04 %
Crispeno Realty, Inc(#,^)9812 235th Pl SW, Edmonds, WA 98020Real EstateTerm LoanPrime plus 2.75%3/16/20317.4 7.4 6.3 — %
Pavesh, LLC(#,^)9576 Potranco Rd, San Antonio, TX 78251Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2046164.7 164.7 173.3 0.04 %
INB Enterprise LLC(#)7761 Diamondback Dr, College Park, MD 20742Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%3/15/20315.8 5.8 5.6 — %
DTJ Enterprises, Inc dba West Falmouth Market(#,^)623 W Falmouth hwy, Falmouth, MA 02540Food and Beverage Stores Term LoanPrime plus 2.75%3/15/2046176.8 176.8 184.6 0.05 %
Benevolent Family Services LLC,(#)522 S Independence Blvd, Ste 201, Virginia Beach, VA 23452Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%3/15/20315.8 5.8 5.6 — %
Craftworks NW, LLC(#,^)12421 NE 117th Ave, Vancouver, WA 98662Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%3/12/203113.8 13.8 12.5 — %
Kris-Leigh Catered Living at Severna Park LLC(#,^)831 Ritchie Hwy, Severna Park, MD 21146Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%3/12/2031669.6 669.6 697.3 0.18 %
Hany and Associates LLC dba Integrity Tax Group(#,^)2020 S Oneida St, Denver, CO 80224Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/12/203120.7 20.7 17.7 — %
Swick & Son Enterprises, Inc.(#,^)108 Mashell Ave North, Eatonville, WA 98328Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/12/203166.0 66.0 57.0 0.01 %
Torchlight Academy Schools, LLC(#,^)116 County Farm Rd, Windsor, NC 27983Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/12/2046221.7 221.7 248.1 0.06 %
Clean Energyz LLC(#)881 Alma Real Dr Ste T-16, Pacific Palisades, CA 90272Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/11/203138.5 38.5 36.1 0.01 %
Clean Energyz LLC(#,^)881 Alma Real Dr, Stes T-16, Pacific Palisades, CA 90272Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/11/203154.9 54.9 47.0 0.01 %
Motus Inc. dba Stage Your Home San Diego(#,^)7557 Convoy Ct, San Diego, CA 92111Real EstateTerm LoanPrime plus 2.75%3/11/203148.1 48.1 41.1 0.01 %
INTERNETZONE I, INC.(#,^)3131 Laurel Ave, Fullerton, CA 92835Other Information ServicesTerm LoanPrime plus 2.75%3/10/20319.2 9.2 7.8 — %
70
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Monark, LLC(#,^)26050 Acero, Ste 411, Mission Viejo, CA 92691Food ManufacturingTerm LoanPrime plus 2.75%3/10/203132.1 32.1 27.4 0.01 %
ACTIVE FACILITY MONITORING, LLC(#,^)702 Ernest Dr, Port Orange, FL 32127Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/9/20319.0 9.0 7.7 — %
True Electrical Services LLC dba True Breaker Services(#,^)3773 Dinosaur St, Castle Rock, CO 80109Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/5/20315.5 5.5 4.7 — %
Charlie Chedda's LLC(#,^)1867 Academy Blvd 1871 S Academy Blvd, Colorado Springs, CO 80916Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/5/203117.1 17.1 17.8 — %
Nadal Company LLC(#,^)5923 Robindale Rd, Catonsville, MD 21228Repair and MaintenanceTerm LoanPrime plus 2.75%3/5/20314.6 4.6 3.9 — %
3 A Ideas, LLC dba Bizzy Kids Learning Center(#,^)1401 Caplin Dr, Arlington, TX 76018Social AssistanceTerm LoanPrime plus 2.75%3/5/2046117.5 117.5 127.1 0.03 %
Giles Title and Escrow Services, LLC and Morgan Andrew Hoover(#,^)203 North 1st St, Pulaski, TN 38478Real EstateTerm LoanPrime plus 2.75%3/4/203128.3 28.3 26.4 0.01 %
Reginald L McClain dba McClain's Auto Detailing and Paint Refinish(#,^)2753 N 29th St, Milwaukee, WI 53210Repair and MaintenanceTerm LoanPrime plus 2.75%3/3/20467.1 7.1 7.9 — %
Ambrose Cubed LLC(#,^)6780 Hudspeth Rd, Harrisburg, NC 28075Wholesale Electronic Markets and Agents and Brokers Term LoanPrime plus 2.75%3/3/2046197.4 197.4 220.8 0.06 %
Metroguard Security & Risk Mgmt Inc.(#,^)338 Commerce Dr, Fairfield, CT 06825Administrative and Support ServicesTerm LoanPrime plus 2.75%3/2/2031188.6 188.6 161.2 0.04 %
Miss Academy, LLC dba Miss Houston Pageant(#,^)1111 Uptown Park Blvd #12, Houston, TX 77056Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/26/20319.1 9.1 7.7 — %
Goodsell/Wilkins, Inc(#,^)28175 Bluebell Dr, Laguna Niguel, CA 92677Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/25/203190.6 90.6 77.4 0.02 %
Anne M Prior LLC(#,^)5933 NW Wins Sivers Dr, Portland, OR 97220Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/25/203116.0 16.0 13.7 — %
Innovative Dental of Hannibal LLC(#,^)515 Clinic Rd., Hannibal, MO 63401Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/24/203145.3 45.3 38.7 0.01 %
Medissage Integrative Therapies, LLC(#,^)103 Twinridge Ln, Richmond, VA 23235Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/23/20467.3 7.3 8.1 — %
KOLOA KAI LLC and Stay Beach Cities, Inc(#,^)2-2514 Kaumualii Hwy, Kalaheo, HI 96741Real EstateTerm LoanPrime plus 2.75%2/22/20316.8 6.8 5.8 — %
Eagle Creek Landscape & Design(#,^)7574 Eagle Creek Rd, Cincinnati, OH 45247Administrative and Support ServicesTerm LoanPrime plus 2.75%2/19/203143.0 43.0 37.4 0.01 %
TELAVERGE COMMUNICATIONS, LLC(#,^)8229 Foutain Ridge Dr, Plano, TX 75025Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/19/203131.7 31.7 27.1 0.01 %
Eddy Auto Service Inc(#,^)901 NY-109, West Babylon, NY 11704Repair and MaintenanceTerm LoanPrime plus 2.75%2/18/204685.6 85.6 95.8 0.02 %
Ben Anderson 365(#,^)1567 E Valley Rd, Montecito, CA 93108Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/18/203145.3 45.3 38.7 0.01 %
Surgeon & Associates, Inc(#,^)733 Bargain St, Fayetteville, NC 28303Administrative and Support ServicesTerm LoanPrime plus 2.75%2/17/203127.2 27.2 27.0 0.01 %
71
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

ReenBoog Natural Hair Care, LLC(#,^)4051 Stone Mountain Hwy, Ste E106, Lilburn, GA 30047Health and Personal Care Stores Term LoanPrime plus 2.75%2/17/203118.1 18.1 15.8 — %
Commonwealth Warehouse, Inc.(#,^)400-500 Murray Rd, Cincinnati, OH 45217Warehousing and StorageTerm LoanPrime plus 2.75%2/17/203152.1 52.1 44.6 0.01 %
Alima Mandiang, dba Mandiang Hair Braiding(#)242 E. Claremont Rd, Philadelphia, PA 19120Personal and Laundry ServicesTerm LoanPrime plus 6.5%2/17/20312.3 2.3 2.2 — %
White Pine Logistics Inc(#,^)1281 Cobble Pond Way, Vienna, VA 22182Truck TransportationTerm LoanPrime plus 2.75%2/16/203152.3 52.3 44.7 0.01 %
Design Moves LLC(#,^)3235 North Dixie Hwy, Oakland, FL 33334Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/16/204683.1 83.1 89.6 0.02 %
Ryan Spataro dba The Minty Goat(#,^)6801 N Crystal Ave, Kansas City, MO 64119Administrative and Support ServicesTerm LoanPrime plus 2.75%2/16/20314.5 4.5 4.3 — %
A-One Refrigeration and Heating, Inc(#,^)910 N 20th Ave, Pasco, WA 99301Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/11/2031149.9 149.9 133.7 0.03 %
UniGuide Media,LLC(#)105 Pearl St, Sausalito, CA 94965Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%2/11/20315.8 5.8 5.6 — %
A-One Refrigeration and Heating, Inc.(#,^)910 N 20th Ave, Pasco, WA 99301Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/11/2046283.6 283.6 302.3 0.08 %
Little Swimmers Inc.(#,^)2395 Monument Blvd, Concord, CA 94520Educational ServicesTerm LoanPrime plus 2.75%2/11/203145.3 45.3 39.3 0.01 %
Hybrid Drive Batteries LLC(#,^)22607 E La Palma Ave, Ste 406, Yorba Linda, CA 92887Repair and MaintenanceTerm LoanPrime plus 2.75%2/10/203113.6 13.6 11.7 — %
Michael Miller dba Affordable Paint and Auto Body(#,^)4738 Randleman Rd, Greensboro, NC 27406Repair and MaintenanceTerm LoanPrime plus 2.75%2/9/204621.7 21.7 23.2 0.01 %
Little Angels Daycare and Learning Center LLC(#)4551 Summit Blvd, West Palm Beach, FL 33415Social AssistanceTerm LoanPrime plus 2.75%2/3/204793.8 93.8 92.8 0.02 %
Davis Laboratories, Inc.(#,^)611 Lunar Ave., Brea, CA 92821Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/1/203156.6 56.6 53.0 0.01 %
Dexter Lillie dba Kreative Kutz Barber Shop(#,^)865 Cassat Ave, Jacksonville, FL 32205Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/29/204617.6 17.6 19.7 — %
TC3, LLC(#,^)1036 Country St 2945, Tuttle, OK 73089Administrative and Support ServicesTerm LoanPrime plus 2.75%1/29/20314.8 4.8 4.7 — %
CULTIVA Solutions, LLC(#,^)8000 Towers Crescent Dr,, Vienna, VA 22182Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/29/20313.6 3.6 3.1 — %
Jazma Deaungilae Wise(#)110 Golden Pine Rd SW, Austell, GA 30168Personal and Laundry ServicesTerm LoanPrime plus 6.5%1/28/20313.7 3.7 3.5 — %
Payne's Environmental Services LLC(#,^)5617 Causeway Blvd., Tampa, FL 33619Administrative and Support ServicesTerm LoanPrime plus 2.75%1/28/2031166.3 166.3 150.6 0.04 %
Chrysalis MSP LLC(#,^)14550 Torrey Chase Blvd, Ste 110, Houston, TX 77014Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/26/203110.3 10.3 8.8 — %
WILD THING ACCOUNTING & TAX LLC(#)805 NE 190th Ave, Portland, OR 97230Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/22/20315.7 5.7 5.5 — %
Greater Vision Healthcare Services, LLC(#,^)788 Montgomery Ave, Ocoee, FL 34761Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/22/2046903.3 903.3 964.5 0.24 %
72
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Wild Wellness LLC(#)151 Lake St, Lancaster, OH 43130Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%1/22/20312.5 2.5 2.4 — %
Andrew's Spotless Cleaning, LLC(#)1604 Marcella Dr, Covington, KY 41011Administrative and Support ServicesTerm LoanPrime plus 6.5%1/22/20315.7 5.7 5.5 — %
Inland Empire Spine and Disc Laser, Inc.(#,^)802 Magnolia Ave, Ste 103, Corona, CA 92879Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/22/203145.0 45.0 40.1 0.01 %
VIIXVII Sewing Studio, LLC(#)227 E Girard Ave, Philadelphia, PA 19125Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 6.5%1/22/20314.1 4.1 3.9 — %
Skypie Studio & Crafts LLC(#)933 Mary Ave, Opelousas, LA 70570Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/22/20315.5 5.5 5.3 — %
R & L Timber, Inc(#,^)524 Callen Crabb Rd, Sagle, ID 83860Forestry and LoggingTerm LoanPrime plus 2.75%1/20/2031216.9 216.9 195.5 0.05 %
Centre for Autism Treatment LLC(#)13090 Sundown Rd, Victorville, CA 92392Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/20/20315.7 5.7 5.5 — %
Valley Towing & Sons, Inc(#,^)16 NY-6N, Mahopac, NY 10541Support Activities for TransportationTerm LoanPrime plus 2.75%1/19/203110.5 10.5 9.0 — %
Diamond Ridge Professionals LLC,(#)8629 Mesquite Circle, Magna, UT 84044Construction of BuildingsTerm LoanPrime plus 6.5%1/19/20315.7 5.7 5.5 — %
Austen Felder Holdings LLC dba Austin R Styling(#)23642 Hwy 25, Franklinton, LA 70438Personal and Laundry ServicesTerm LoanPrime plus 6.5%1/18/203111.5 11.5 11.1 — %
Retro Rangers LLC and Retro 1951, Inc(#,^)750 International Pkwy #105, Richardson, TX 75081Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%1/15/2031178.2 178.2 152.3 0.04 %
Big Brand Management Ltd. Co and Food Civilization LLC(#,^)68700 Dinah Shore Dr, Cathedral, CA 92234Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%1/14/2046239.7 239.7 247.1 0.06 %
Tapia Auto Care, LLC dba Shoreline Quick Lube and Car Wash(#,^)2 Center Rd, Old Saybrook, CT 06475Repair and MaintenanceTerm LoanPrime plus 2.75%1/12/2031116.8 116.8 108.8 0.03 %
Silx LLC(#,^)4120 3rd Ave, Timnath, CO 80525Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/12/20314.1 4.1 3.5 — %
White Pine Logistics, Inc.(#,^)1281 Cobble Pond Way, Vienna, VA 22182Truck TransportationTerm LoanPrime plus 2.75%1/11/2031356.6 356.6 309.1 0.08 %
Athletic Performance Training Center, LLC(#,^)12855 York-Delta Dr, North Royalton, OH 44133Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/8/203113.5 13.5 11.5 — %
Westby Grocery LLC(#,^)212 Main St, Westby, MT 59275Food and Beverage Stores Term LoanPrime plus 2.75%1/8/204642.7 42.7 42.8 0.01 %
Inter-Insurance Agency Services, Ltd. and Universal Casualty Risk Ret(#,^)380 N Broadway , Jericho, NY 11753Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/31/2030116.0 116.0 99.3 0.03 %
Moran Tax & Accounting LLC(#,^)128 N Franklin St, Brazil, IN 47834Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/31/204517.0 17.0 18.3 — %
Tissue Plus LLC F/K/A Soft Touch Tissue &Paper, LLC(#,^)1491 Hammond St, Bangor, ME 04401Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/31/2045341.3 341.3 381.9 0.10 %
TNJ Products, Inc.(#,^)4912 N Lincoln Ave, Ste 101, Chicago, IL 60625Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/31/2030191.7 191.7 163.9 0.04 %
73
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Seven C's Manufacturing, Inc(#,^)3895 Corsair St, Reno, NV 89502Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/31/2030490.5 490.5 459.4 0.12 %
M2 Lumber LLC(#,^)110 Brick House Rd, Laurens, SC 29360Wood Product ManufacturingTerm LoanPrime plus 2.75%12/31/203010.0 10.0 9.3 — %
The Spot Bar & Restaurant LLC(#,^)10540 State Route 195, Killeen, TX 76542Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/204537.1 37.1 41.5 0.01 %
Hawthorne Food Company dba Eastern Standard Provis(#,^)117 Beaver St, Waltham, MA 02452Food ManufacturingTerm LoanPrime plus 2.75%12/31/2030780.4 780.4 668.1 0.17 %
Leila Zamiri, DDS, Inc(#,^)3317 E 10th St, Long Beach, CA 90804Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/31/2045152.2 152.2 170.3 0.04 %
Performance Online, Inc(#,^)1550 Melissa Ct, Corona, CA 92879Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/30/2030234.3 234.3 200.8 0.05 %
NDRS Construction Inc.dba Disaster(#,^)18730 Cortez Blvd, Brooksville, FL 34601Construction of BuildingsTerm LoanPrime plus 2.75%12/30/203062.5 62.5 53.7 0.01 %
SDI Black 011, LLC(#,^)1091 YONKERS AVE, YONKERS, NY 10704Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/30/2030198.4 198.4 183.4 0.05 %
George Family Cremation and Burial LLC(#,^)1260 W Mission Ave, Escondido, CA 92029Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/30/203192.7 92.7 84.3 0.02 %
Lightstat Inc.(#,^)22 W West Hill Rd, Barkhamsted, CT 06063Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/30/2030334.4 334.4 335.4 0.09 %
Eppy's Tool & Equipment Warehouse, Inc(#,^)809 East 42nd St, Brooklyn, NY 11210Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/30/2030232.8 232.8 199.0 0.05 %
Trident E&P, LLC(#,^)320 Circle of Progress Dr, Pottstown, PA 19464Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/30/20301,102.7 1,102.7 1,012.7 0.26 %
Shlama Two LLC dba Village Park Daycare(#,^)7440 Broadway , Merrillville, IN 46410Social AssistanceTerm LoanPrime plus 2.75%12/30/2045243.5 243.5 261.2 0.07 %
Vacation Link of Florida, Inc., Island Vacation and Cruises, Inc(#,^)501 N Wymore Rd, Winter Park, FL 32789Administrative and Support ServicesTerm LoanPrime plus 2.75%12/30/2030356.7 356.7 371.5 0.09 %
Bourque Sales and Service Inc.(#,^)9160 Linwood Ave, Shevport, LA 71106Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/30/2045139.3 139.3 155.9 0.04 %
Educare Early Intervention, Corporation(#,^)4557 S Calumet Ave, Chicago, IL 60653Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/203039.5 39.5 33.7 0.01 %
United Security Specialists, Inc.(#,^)275 Saratoga Ave. Ste 200, Santa Clara, CA 95050Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/30/2030104.9 104.9 89.8 0.02 %
Center of New England Primary Care Inc(#,^)775 Center of New New England Blvd, Coventry, RI 02816Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2045410.9 410.9 459.8 0.12 %
Petroleum Equipment & Services, Inc.(#,^)5631 Silverado Way, Anchorage, AK 99518Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/30/2030375.7 375.7 326.5 0.08 %
Bourque Sales and Service Inc(#,^)9160 Linwood Ave, Shreveport, LA 71106Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/30/2045142.0 142.0 158.9 0.04 %
Real Estate Personnel, Inc., Tara Matta and Sara Pierce(#,^)1758 Emerson St, Denver, CO 80218Administrative and Support ServicesTerm LoanPrime plus 2.75%12/30/2030891.9 891.9 762.4 0.19 %
Center of New England Primary Care Inc, North Providence Urgent Care(#,^)775 Centre of New England Blvd, Coventry, RI 02816Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2045442.9 442.9 495.6 0.13 %
74
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Perfect Game Incorporated(#,^)850 Twixt Town Rd NE, Cedar Rapids, IA 52402Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/30/20301,114.8 1,114.8 1,050.8 0.27 %
Khangri Sourcing Inc.(#,^)6021 129th. Ave SE, Bellevue, WA 98006Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/29/2030149.0 149.0 138.1 0.03 %
Bojax Auto Collision Inc(#,^)4706 Fenlee Ave., Royal Oak, MI 48073Repair and MaintenanceTerm LoanPrime plus 2.75%12/29/2045334.9 334.9 362.0 0.09 %
Litchy Electric L.L.C.(#,^)4035 E Post Rd, Las Vegas, NV 89120Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/203089.2 89.2 83.7 0.02 %
E R Kilpatrick, LLC dba Jefferson Street True Value(#,^)212 Greenwood St, La Grande, OR 97850Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/28/2030128.2 128.2 121.9 0.03 %
Sondra Gayle Insurance Agency Inc.(#,^)2107 Veterans Memorial Blvd, Metaire, LA 70002Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/24/20306.7 6.7 6.9 — %
SLCP Transport, LLC(#,^)111 Brentwood Dr, College Station, TX 77840Repair and MaintenanceTerm LoanPrime plus 2.75%12/23/203054.5 54.5 51.6 0.01 %
Title2Land,LLC(#,^)11851 Wentling Ave, Baton Rouge, LA 70816Real EstateTerm LoanPrime plus 2.75%12/23/2045109.6 109.6 123.7 0.03 %
Terry A. Humphreys dba Tiki Torch Liquors(#)101 Dallas St., Talihima, OK 74571Food and Beverage Stores Term LoanPrime plus 6.5%12/23/203011.4 11.4 11.9 — %
NetLevel5 LLC dba Moutain Air Duct(#,^)4724 Poleplant Dr, Colorado Springs, CO 80918Administrative and Support ServicesTerm LoanPrime plus 2.75%12/23/203014.4 14.4 13.6 — %
Spectrum Dynamics, Inc dba Clean Water Works(#)27727 Dalton Bluff Court, Katy, TX 77494Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/23/203011.4 11.4 11.9 — %
KCL Business Service Inc.(#)1042 San Fernando Rd., San Fernando, CA 91340Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/23/203011.4 11.4 11.9 — %
Southeastern Esthetics Institute, LLC and Pura Medical Spa, Corp, LLC(#,^)1644 Main St Ste 1, Columbia, SC 29201Educational ServicesTerm LoanPrime plus 2.75%12/23/2030518.4 518.4 495.9 0.13 %
UBIF 86 CO dba UBREAKIFIX(#,^)1539 Town Center Dr, Lakeland, FL 33803Repair and MaintenanceTerm LoanPrime plus 2.75%12/23/203051.1 51.1 47.2 0.01 %
Chris' Angels Cleaning Service LLC(#)2090 Dunwoody Club Dr, Sandy Springs, GA 30350Administrative and Support ServicesTerm LoanPrime plus 6.5%12/23/203011.4 11.4 11.9 — %
Summerfield Farm, Inc(#,^)24 Baker Rd, Pittstown, NJ 08867Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%12/23/204557.2 57.2 64.6 0.02 %
ASIL Ventures, LLC(#)4354 N Bell Ave, Apt G2,, Chicago, IL 60618Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/22/20303.9 3.9 4.0 — %
US Dedicated LLC(#,^)13410 SE 26th Cir, Vancouver, WA 98683Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/22/2030195.1 195.1 180.3 0.05 %
N.W.F.F., Inc.(#,^)687 E. Central Ave, Sutherlin, OR 97479Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/204542.6 42.6 48.1 0.01 %
Lynch Mining LLC(#,^)7262 West Hunt Hwy, Queen Creek, AZ 85142Mining (except Oil and Gas)Term LoanPrime plus 2.75%12/21/2045355.1 355.1 392.0 0.10 %
Price Educational Services, LLC dba Mathnasium of South OKC(#,^)10740 S May Ave, Oklahoma City, OK 73170Educational ServicesTerm LoanPrime plus 2.75%12/21/20307.5 7.5 7.1 — %
75
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

N.W.F.F., Inc. and Environmental Contracting Solutions, Inc.(#,^)687 E Central Ave, Sutherlin, OR 97479Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2030691.2 691.2 659.2 0.17 %
Allied Molded Products, LLC, Clancy 15 LLC, and Crusader 5088, LLC(#,^)1145 13th Ave East, Palmetto, FL 34221Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/18/2030195.3 195.3 180.4 0.05 %
Tahzoo LLC(#,^)1015 7th St NW, Washington, DC 20001Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/2030694.1 694.1 642.4 0.16 %
REST Enterprises Inc dba Upstyled Properties(#,^)1440 W Taylor St Unit 595, Chicago, IL 60607Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/203013.4 13.4 14.1 — %
Yinlink International Inc(#,^)2 Corporate Dr, Suiite A, East Windsor, NJ 08512Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/18/203062.5 62.5 63.2 0.02 %
Giant Development Inc and Crabtree Development Corp(#,^)509 Pylon Dr, Ste 110, Raleigh, NC 27606Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/18/20301,114.8 1,114.8 1,061.6 0.27 %
Pumpkin Patch Child Care and Early Education Center, LLC(#,^)310 Grove Beach Rd N, Westbrook, CT 06498Social AssistanceTerm LoanPrime plus 2.75%12/18/2045112.0 112.0 125.1 0.03 %
Katie Cox & Co. LLC(#,^)6605 Longshore ST, Ste 240, Dublin, OH 43017Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/20306.7 6.7 6.2 — %
Code 3 Apps LLC.(#,^)843 Tempted Ways Dr, Longmont, CO 80504Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/18/20306.7 6.7 6.2 — %
Horne Chiropractic Center, P.A(#,^)3820 Mountain Rd, Stes B & C, Pasadena, MD 21122Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/18/203089.2 89.2 82.4 0.02 %
RJL Texas International Corporation(#,^)17401 Triton,, Schertz, TX 78154Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/18/2030242.3 242.3 234.3 0.06 %
Neeld Rentals Inc dba Mills True Value Hardware(#,^)205 Clinton Blvd, Clinton, MS 39056Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/18/203010.7 10.7 9.9 — %
Edgar E. Herrera Garcia, Rocio L. D. Herrera dba Integral Delivery(#,^)3100 Delaware Ave, Des Moines, IA 50313Truck TransportationTerm LoanPrime plus 2.75%12/18/2045219.2 219.2 245.2 0.06 %
People United of Louisiana LLC(#,^)1401 Hudson Ln, Monroe, LA 71201Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/18/2030133.8 133.8 127.8 0.03 %
Splashlight Photographic & Digital Studios LLC ,Splashlight Technologies(#,^)75 Varick St, 3rd Floor, New York, NY 10013Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/20301,114.8 1,114.8 1,030.1 0.26 %
Last Touch LLC(#,^)927 E 10th St, Fairmont, MN 56031Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/18/204550.4 50.4 56.9 0.01 %
AccountPics, LLC(#,^)903 S WW White Rd, San Antonio, TX 78220Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/204577.9 77.9 88.0 0.02 %
Anthony Connelly Holdings LLC(#,^)7260 Dean Martin Dr, Ste 800, Las Vegas, NV 89118Nonstore Retailers Term LoanPrime plus 2.75%12/17/2030223.0 223.0 206.0 0.05 %
Carolina Roofing Siding Painting LLC(#,^)204 Depot St, Camponbello, SC 29322Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/17/204514.6 14.6 16.2 — %
David M. Benson LLC(#)1422 Euclid Ave, Cleveland, OH 44115Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/16/203011.4 11.4 11.9 — %
76
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Savannah Area Language & Culture Exchange, LLC(#)6 Dovetail Crossing, Savannah, GA 31419Educational ServicesTerm LoanPrime plus 6.5%12/16/203011.4 11.4 11.9 — %
McFarlin, LLP(#,^)4 Park Plz Ste 1025, Irvine, CA 92614Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/16/2030158.4 158.4 146.3 0.04 %
Signature Graphic LLC(#,^)14425 N 79th St, Ste B, Scottsdale, AZ 85260Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/16/203075.8 75.8 70.0 0.02 %
Vege Investments, LLC dba Sunoco Homestead(#)26400 SW 177th Ave, Homestead, FL 33031Gasoline Stations Term LoanPrime plus 6.5%12/16/203011.4 11.4 11.9 — %
Highstar Travel Group, LLC(#,^)2869 Wilshire Dr, Ste 204, Orlando, FL 32835Administrative and Support ServicesTerm LoanPrime plus 2.75%12/16/203020.1 20.1 18.5 — %
Last Minute Effects Inc.(#,^)1016 Hamline Place, Burbank, CA 91504Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%12/15/203013.4 13.4 12.6 — %
Vector Utilities LLC(#,^)8501 San Gabriel Dr, Laredo, TX 78045Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/14/2030334.4 334.4 336.5 0.09 %
Droplette Marketing Co(#,^)6481 Orangethorpe Ave, Buena Park, CA 90620Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/20306.0 6.0 5.8 — %
Accommodating Financial & Tax Services, LLC(#,^)1642 Ralston Circle, Toledo, OH 43623Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/204541.2 41.2 46.5 0.01 %
Aeromax Industries Inc(#,^)1310 Ranchers Legacy Trail, Fort Worth, TX 76126Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/14/2030156.1 156.1 144.2 0.04 %
Corple Enterprisees Inc(#,^)17887 US Hwy 380 West, Ponder, TX 76259Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/14/203055.7 55.7 51.5 0.01 %
Efficient, Fast & Good Cleaning Services Inc(#,^)2444 NW 177th Terrace, Miami Gardens, FL 33056Administrative and Support ServicesTerm LoanPrime plus 2.75%12/14/20306.7 6.7 6.4 — %
Jamali LLC dba Saahten(#)2741 Raceway Fairfield West, Pensacola, FL 32503Food Services and Drinking PlacesTerm LoanPrime plus 6.5%12/11/203011.4 11.4 11.9 — %
Donald W. Harris dba Bowman Creek Mini Storage(#)1625 US-59 N, Linden, TX 75563Warehousing and StorageTerm LoanPrime plus 6.5%12/11/203011.4 11.4 11.9 — %
TJ Pant LLC and Tailored Cartage LLC(#,^)25993 US 12, Sturgis, MI 49091Truck TransportationTerm LoanPrime plus 2.75%12/11/203076.9 76.9 78.5 0.02 %
Shattered Prism LLC(#,^)3333 Broadway , New York, NY 10031Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%12/11/20306.7 6.7 7.1 — %
Premium Marketing Co. Inc. dba Vera Moore Cosmetics(#,^)4 Shadow Ln, Woodbury, NY 11797Health and Personal Care Stores Term LoanPrime plus 2.75%12/11/203020.1 20.1 18.8 — %
LTD Broadband, LLC(#,^)69 Teahouse St, Las Vegas, NV 89138TelecommunicationsTerm LoanPrime plus 2.75%12/10/20301,076.9 1,076.9 1,050.4 0.27 %
Just In Time Refrigeration LLC(#,^)6400 EDNA TAYLOR PKWY, MONONA, WI 53716Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/10/2045224.5 224.5 244.9 0.06 %
Inner Beauty Salon and Suite LLC(#,^)825 Beecher St SW, Atlanta, GA 30310Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/10/204563.3 63.3 71.5 0.02 %
M-Den, Inc(#,^)315 Main St, Ann Arbor, MI 48104Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%12/10/20301,025.2 1,025.2 1,035.9 0.26 %
HWH Unlimited, Inc.(#,^)43386 Business Park Dr, Temecula, CA 92590Real EstateTerm LoanPrime plus 2.75%12/9/203066.9 66.9 70.6 0.02 %
77
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

LBR Partners LLC dba Techy(#,^)1450 Johns Lake Rd, Clermont, FL 34711Repair and MaintenanceTerm LoanPrime plus 2.75%12/9/203041.6 41.6 38.5 0.01 %
Zebra House Coffee, LLC(#,^)1001 S El Camino Real, San Clemente, CA 92672Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/9/203040.1 40.1 37.1 0.01 %
CashLine Solutions, LLC(#,^)467741 E 1050 Rd, Sallisaw, OK 74955Administrative and Support ServicesTerm LoanPrime plus 2.75%12/7/203010.7 10.7 9.9 — %
Northeast Coverages Inc. and Southeast Coverages Inc.(#,^)910 Franklin Ave, Ste 210, Garden City, NY 11530Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/7/2030151.6 151.6 160.1 0.04 %
Indecon Builders Inc(#,^)1382 Valencia Ave, Tustin, CA 92780Construction of BuildingsTerm LoanPrime plus 2.75%12/4/203044.6 44.6 41.2 0.01 %
Travel with Love, LLC dba Style & The Storyteller(#)8465 W Sahara Ave, Ste 111, Las Vegas, NV 89117Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/4/20304.5 4.5 4.7 — %
Perez Law Office, PLLC(#,^)80 N McClintock Dr, Chandler,, AZ 85226Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/4/204565.8 65.8 74.2 0.02 %
Combs Creative LLC(#)157 Antler Ridge Circle,, Nashville, TN 37214Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/4/20304.5 4.5 4.7 — %
SME Business Services LLC(#,^)930 Chesaco Ave, Rosedale, MD 21237Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/203020.1 20.1 18.5 — %
Moxie Marketing, LLC(#,^)51 Lee Dr, Palm Coast, FL 32137Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/2030111.5 111.5 103.0 0.03 %
Tina D. Coker DBA Diane's Accounting Service(#)119 E Haywood St, England, AR 72046Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/3/203011.4 11.4 11.9 — %
Staffhink Limited dba Barn Owl Drone Services(#,^)4283 Deerfield Hills Rd, Colorado Springs, CO 80916Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%12/3/20304.7 4.7 4.6 — %
American Retail Properties, Inc.(#,^)125 Main St 2nd Floor, Reading, MA 01867Real EstateTerm LoanPrime plus 2.75%11/30/203019.9 19.9 18.4 — %
Jonathan J Klaczik LLC dba Veterans Fence Company(#,^)7417 Dover Ln, Parma, OH 44130Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/27/203019.9 19.9 19.2 — %
Hartley S Johnson & Son, Inc. dba Mark T. Wendell Tea(#,^)14a Craig Rd, Acton, MA 01720Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/27/203035.4 35.4 32.9 0.01 %
LIAISON STAINLESS INC(#,^)630 James Lee Dr NW, Suwanee, GA 30024Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/25/203066.4 66.4 61.3 0.02 %
The Alder SmokeHouse LLC(#,^)1055 Virginia Ave, North Bend, OR 97459Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/203010.0 10.0 10.5 — %
Flex Beauty Labs, LLC(#)7512 Dr. Phillip Blvd, Orlando, FL 32819Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 6.5%11/24/203010.9 10.9 11.4 — %
Next Level Detailing, LLC(#,^)3235 Odeon Way, Ste 201-203, Acworth, GA 30102Repair and MaintenanceTerm LoanPrime plus 2.75%11/24/20306.6 6.6 6.1 — %
Dearly LOved Counseling, L.L.C(#)14052 N Dale Mabry Hwy, Ste 215, Tampa, FL 33618Social AssistanceTerm LoanPrime plus 6.5%11/24/203011.3 11.3 11.8 — %
Ellis Apex LLC dba Inage360 Marietta(#,^)2060 Franklin Way SE, Ste 150, Marietta, GA 30067Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/24/203081.9 81.9 76.0 0.02 %
78
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Thompson Enterprises of Florida LLC dba TCBY FROZEN YOGURT(#,^)14543 SW 5th St, Pembroke Pines, FL 33027Food and Beverage Stores Term LoanPrime plus 2.75%11/20/203013.0 13.0 12.0 — %
Prosperity Tool, Inc(#,^)2006 National Guard Dr, Plant City, FL 33563Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/19/2045291.8 291.8 329.4 0.08 %
The Number Masters(#,^)3325 Highland St, Grove City, OH 43123Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/18/203015.4 15.4 14.2 — %
Italian Heritage Tile and Stone Inc(#,^)4725 Morgan Territory Rd, Clayton, CA 94517Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/18/203069.7 69.7 64.4 0.02 %
T.S.I.-VA, LLC and Alpha Business Services Inc.(#,^)2525 Pointe Center Court, Ste 200, Dumfries, VA 22026Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/17/203096.9 96.9 89.6 0.02 %
Master Printing and Signs Corp & Artishirt Co.(#,^)386 Squire Rd, Revere, MA 02151Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/10/2045195.4 195.4 220.5 0.06 %
Modutech Marine Inc(#,^)2218 Marine View Dr, Tacoma, WA 98422Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%11/9/2030354.0 354.0 373.7 0.09 %
Protek Pest Control Inc, Protek Nurseries LLC & Protek Irrigation LLC(#,^)8712 60th Terrace South, Lake Worth, FL 33467Administrative and Support ServicesTerm LoanPrime plus 2.75%11/4/203046.5 46.5 44.2 0.01 %
GoodGuyS Enterprises Inc dba Goodguys;Good Guy Enterprises(#,^)1071 Serpentine Ln, Pleasanton, CA 94566Administrative and Support ServicesTerm LoanPrime plus 2.75%11/4/2030181.6 181.6 191.8 0.05 %
Supersonic Cleaning Services Inc(#,^)36 Seitz Terrace, Arlington, NY 12603Administrative and Support ServicesTerm LoanPrime plus 2.75%10/29/203034.0 34.0 31.8 0.01 %
Marcus Horn dba Versatile Styles and Cuts(#,^)2018 24th Ave, Meridian, MS 39301Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/15/204510.2 10.2 11.3 — %
Shades of U, Inc. dba Diva by Cindy(#,^)15212 Hanover Pike, Upperco, MD 21155Health and Personal Care Stores Term LoanPrime plus 2.75%10/9/204587.4 87.4 97.7 0.02 %
VIP Lawn Care Services LLC dba VIP Services(#,^)3875 Fay Blvd, Cocoa, FL 32927Administrative and Support ServicesTerm LoanPrime plus 2.75%10/8/203016.8 16.8 15.6 — %
KTF Consulting Corp(#,^)2471 N Geneva Terrace, Chicago, IL 60614Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/6/203065.9 65.9 69.6 0.02 %
The Hall at the Yard LLC dba The Hall on the Yard(#)1412 Alden Rd, Orlando, FL 32803Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/2/20311,130.0 1,130.0 1,054.3 0.27 %
South Park Hardware, LLC(#,^)16074 South Park Ave, South Holland, IL 60473Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/25/204572.7 72.7 82.1 0.02 %
Hazleton Oil & Environmental, Inc(#,^)300 Tamaqua St, Hazleton, PA 18201Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/25/20451,053.3 1,053.3 1,189.1 0.30 %
Babys on Broadway LLC(#,^)47 East Broadway , Little Falls, MN 56345Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%9/25/203065.4 65.4 61.3 0.02 %
7PSolutions, LLC(#,^)136 North Van Buren St, Nashville, IN 47448Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/25/203043.6 43.6 40.4 0.01 %
Blakeslee Arpaia Chapman, Inc and Chapman Construction Services, LLC(#,^)200 North Branford Rd, Branford, CT 06405Construction of BuildingsTerm LoanPrime plus 2.75%9/24/2030327.0 327.0 331.6 0.08 %
BulkMore LLC(#,^)12741 Ocean Gateway, Ocean City, MD 21842Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/18/2030131.9 131.9 124.8 0.03 %
79
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Mister Dexters LTD dba Shuga's(#,^)702 S. Cascade Ave, Colorado Springs, CO 80903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/28/204555.7 55.7 61.9 0.02 %
Mister Dexters LTD dba Shuga's(#,^)702 S Cascade Ave, Colorado Springs, CO 80903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/28/2030159.0 159.0 146.6 0.04 %
Alliance Heating & Air Conditioning, Inc.(#,^)10 Brookfield Ave, Bridgeport, CT 06610Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/6/2030627.9 627.9 579.8 0.15 %
Terry & Tammy Jacobsen, Inc.dba Appliance Recycling Outlet(#,^)10105 Airport Way, Snohomish, WA 98296Electronics and Appliance Stores Term LoanPrime plus 2.75%4/3/2045806.5 806.5 881.4 0.22 %
Terry and Tammy Jacobsen, Inc dba Appliance Recycling(#,^)10105 Airport Way, Snohomish, WA 98296Electronics and Appliance Stores Term LoanPrime plus 2.75%4/3/2030281.5 281.5 259.0 0.07 %
Profit Stewards, LLC(#,^)458 Schuylkill Rd, Phoenixville, PA 19460Repair and MaintenanceTerm LoanPrime plus 2.75%4/2/203036.2 36.2 34.0 0.01 %
Caplan Home Care, LLC(#,^)6029 Berkshire Ln, Dallas, TX 75225Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/1/2045847.8 847.8 934.4 0.24 %
Montana Custom Log Homes, Inc.(#,^)2036 US Hwy 93 North, Victor, MT 59875Wood Product ManufacturingTerm LoanPrime plus 2.75%3/31/2045351.2 351.2 396.5 0.10 %
Blackwater Diving LLC(#,^)112 Forrest Rd, Morgan City, LA 70380Support Activities for MiningTerm LoanPrime plus 2.75%3/30/2030315.1 315.1 301.8 0.08 %
Tomco Inc. dba Rental City dba Tomco Equiptment Sales(#,^)6470 State St, Saginaw, MI 48603Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/27/203018.7 18.7 17.2 — %
Suburban Transmission of Northern Illinois, Inc.(#,^)1714 E Oakton St, Des Plaines, IL 60018Repair and MaintenanceTerm LoanPrime plus 2.75%3/27/2045143.8 143.8 162.4 0.04 %
Dunaway and Hart, Inc(#,^)575 Harkrider St, Conway, AR 72032Real EstateTerm LoanPrime plus 2.75%3/26/203041.5 41.5 38.1 0.01 %
Patoruzu Inc dba Sharkey's Cuts for Kids(#,^)18121 Tuckerton Rd, Ste 130, Cypress, TX 77433Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/20/203011.3 11.3 10.4 — %
Kris-Leigh Catered Living at Severna Park,LLC(#,^)831 Richie Hwy, Severna Park, MD 21146Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%3/20/2030447.4 447.4 469.8 0.12 %
Firefly Developement LLC dba Firefly Earthworks(#,^)4818 Vicksburg St, Dallas, TX 75207Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/19/2045288.1 288.1 311.8 0.08 %
Coffeestamp LLC(#,^)2511 S Jefferson Ave, St. Louis, MO 63104Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/17/20303.7 3.7 3.7 — %
Mid Ohio Hospitality, LLC dba Bucks Bar and Grill(#,^)192 E Main St, Mansfield, OH 44904Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/17/2045220.2 220.2 248.6 0.06 %
Forest Scientific Corporation(#,^)668 Elm St, Tionesta, PA 16353Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/17/203062.3 62.3 65.4 0.02 %
Kanga Lean, Inc. dba F45 Training Trinity(#,^)8900 Strengh Ave, New Port Richey, FL 34655Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/16/203047.9 47.9 45.5 0.01 %
Integrated Equipment Inc; Intergrated Elastomers Inc(#,^)5701 Brittmoore Rd, Houston, TX 77041Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/13/20451,235.0 1,235.0 1,394.4 0.35 %
Stretch of NW Georgia, LLC dba Stretch Zone(#,^)1430 Towne Lake Pkwy, Ste 26100, Woodstock, GA 30189Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/13/203012.2 12.2 11.2 — %
Mark Allen Taylor dba Taylor Auction(#,^)20 & 68 Westfield Rd, Nicholls, GA 31554Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/13/2030115.4 115.4 110.6 0.03 %
80
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Rapid Trucking and(#,^)4225 W Capitol Ave, West Sacramento, CA 95691Truck TransportationTerm LoanPrime plus 2.75%3/13/2045731.1 731.1 825.4 0.21 %
Native Fields Landscaping LLC and My Two Girls LLC(#,^)73 Taylor Rd, Wharton, NJ 07885Administrative and Support ServicesTerm LoanPrime plus 2.75%12/13/2045507.9 507.9 556.5 0.14 %
Signet Media dba Signet Media inc.(#,^)630 S 1st St, San Jose, CA 95113Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/13/2030307.2 307.2 322.5 0.08 %
Astoria-Pacific Inc(#,^)15130 SE 82nd Dr, Clackamas, OR 97015Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%3/13/2030103.8 103.8 109.0 0.03 %
GQ Investments LLC(#,^)5772 Miami Lakes Dr, Miami Lakes, FL 33014Electrical Equipment, Appliance, and Component ManufacturingTerm LoanPrime plus 2.75%3/12/2030124.5 124.5 114.4 0.03 %
C3 Capital, Inc(#,^)10010 North Hampton Cove Ln, Indianapolis, IN 46236Nonstore Retailers Term LoanPrime plus 2.75%3/11/2030470.1 470.1 485.2 0.12 %
Quarles Service Systems, Inc.(#,^)1740 September Ave, Memphis, TN 38116Administrative and Support ServicesTerm LoanPrime plus 2.75%3/10/204592.2 92.2 101.9 0.03 %
The Ugly Mug's Coffee and Tea Inc.(#,^)1390 Broadway Ste C, Placerville, CA 95667Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/9/203030.4 30.4 27.9 0.01 %
Peter & Suzanne Scott, Inc., Phillip Showen & Bryan Phelan(#,^)2342 NY- 37, Port Covington, NY 12937Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/6/2030116.2 116.2 119.3 0.03 %
KR Enterprises, Inc. dba Carriage Inn(#,^)1065 Tower Hill Rd, North Kingstown, RI 02852AccommodationTerm LoanPrime plus 2.75%3/6/2045307.5 307.5 337.8 0.09 %
Big Brand Management LTD. CO. dba Ivox Media(#,^)512 E 11th St, Houston, TX 77008Real EstateTerm LoanPrime plus 2.75%3/6/203055.0 55.0 55.0 0.01 %
Outcome Driven Innovation dba Spracht; Celltek, ODI, ODI Security(#,^)974 Commercial St, Palo Alto, CA 94303Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/6/2030321.6 321.6 295.4 0.07 %
Advans IT Services, Inc.(#,^)One Mercantile St, STE 560, Worcester, MA 01608Other Information ServicesTerm LoanPrime plus 2.75%3/6/2030103.8 103.8 95.3 0.02 %
Minifox Inc. dba Pho Hoa and Jazen Tea(#,^)10624 South Eastern Ave Stes R & S, Hendersen, NV 89502Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/5/203062.3 62.3 57.8 0.01 %
Jones Roger Sherman Inn, Inc. dba Jones Roger Sherman Inn(#)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/4/203019.2 19.2 20.2 0.01 %
Chet Lemon Enterprises, Inc. dba All American Sports(#,^)1544 Ln Park Cut off, Tavares, FL 32778Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/3/2031248.0 248.0 262.3 0.07 %
14th State Learning, LLC dba Sylvan Learning, LLC(#,^)1 Market Pl #10, Essex Junction, VA 05452Educational ServicesTerm LoanPrime plus 2.75%3/2/203042.7 42.7 39.5 0.01 %
Toju Bay Inc. dba Fiesta Americana Restaurand and Club(#,^)1622-1624 N. Mannheim Rd, Stone Park, IL 60165Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2045436.5 436.5 492.8 0.12 %
Breakers Electric, LLC dba Merrill Sports(#,^)13600 Mustang Dr, Mead, CO 80542Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/27/20308.6 8.6 7.9 — %
Crux Solutions LLC dba Waddell's Riverside Funeral Directors(#,^)6938 Westover St, Houston, TX 77087Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/27/204577.5 77.5 86.4 0.02 %
81
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

M & L ENTERPRIZES, LLC(#,^)2401 Wrightsville Ave, Wilmington, NC 28403Food and Beverage Stores Term LoanPrime plus 2.75%2/26/203041.1 41.1 43.1 0.01 %
Feras Alshadaida dba Allura Dairy(#,^)8809 N Grove Ave, Rancho Cucamonga, CA 91730Food and Beverage Stores Term LoanPrime plus 2.75%2/26/203049.7 49.7 46.9 0.01 %
Abe Chahrour Investment, LLC(#,^)4001 S Wayne Rd, Wayne, MI 48154Administrative and Support ServicesTerm LoanPrime plus 2.75%2/25/204521.2 21.2 24.0 0.01 %
Bora Enterprises, LLC(#,^)44255-B Fremont Blvd,, Fremont, CA 94538Truck TransportationTerm LoanPrime plus 2.75%2/21/203010.5 10.5 9.6 — %
Skimino Enterprises LLC(#,^)197 Ewell Rd, Williamsburg, VA 23188Support Activities for TransportationTerm LoanPrime plus 2.75%2/21/203061.6 61.6 56.6 0.01 %
Bell Oak LLC dba Bell Oak Academy & Paradise Strategics LLC(#,^)7215 Waelti Dr, Melbourne, FL 32940Social AssistanceTerm LoanPrime plus 2.75%2/21/2045374.1 374.1 402.6 0.10 %
Sherwood Sporthorses Inc.(#,^)20502 Forestview, Magnolia, TX 77355Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/21/2046388.9 388.9 428.8 0.11 %
Alex Roit Chiropractic, P. C(#,^)55 Northern Blvd, Ste 103, Great Neck, NY 11021Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/19/203016.4 16.4 15.0 — %
Little Feet Academy of Jacksonville, LLC(#,^)10265 Normandy Blvd, Jacksonville, FL 32221Social AssistanceTerm LoanPrime plus 2.75%2/17/204545.2 45.2 49.3 0.01 %
All Modes Transportation & Logistics LLC(#)4313 Collingtree Dr, Rockledge, FL 32955Support Activities for TransportationTerm LoanPrime plus 6.5%2/14/203010.6 10.6 10.9 — %
Romo Medical Equiptment LLC(#,^)3453 North Panam Expressway, San Antonio, TX 78219Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/14/2030410.6 410.6 377.1 0.10 %
Shaw, Ltd dba Fitness 1440 North Coventry(#,^)54-58 Glocker Way, Pottstown, PA 19465Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/13/203050.0 50.0 47.6 0.01 %
Damiano Global Corp.(#,^)333 Birch Hills Dr, Rochester, NY 14622Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/10/203041.0 41.0 37.7 0.01 %
Fortson Janitorial Inc(#,^)462-482 Chattahoochee St, Cornelia, GA 30531Nonstore Retailers Term LoanPrime plus 2.75%2/5/2045102.8 102.8 116.1 0.03 %
A1 Radon Services, LLC(#,^)9980 Dell Rd, Eden Prairie, MN 55347Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%1/31/203073.1 73.1 67.1 0.02 %
Daftarnow Inc dba Venture X Parsippany(#,^)8 Campus Dr. Ste 105, Parsippany, NJ 07054Real EstateTerm LoanPrime plus 2.75%7/30/2030158.4 158.4 146.1 0.04 %
Spinnaker PSL Inc., Spinnaker Subs- N-Shine& Spinnaker Vero Inc(#,^)6967 Hancock Dr, Port St Lucie, FL 34952Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%1/30/2045302.7 302.7 328.2 0.08 %
3 Fat Labs Inc. and Energy Conservation Solution Inc.(#,^)2001 S County Rd 400 W, Greencastle, IN 46135Rental and Leasing ServicesTerm LoanPrime plus 2.75%1/30/2045266.8 266.8 292.8 0.07 %
Adorable Home Heath Care LLC(#,^)6114 W Capitol Dr Ste 205, Milwaukee, WI 53206Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/30/203034.2 34.2 31.4 0.01 %
Codame Enterprises LLC dba Firehouse Subs(#,^)1547 Main St, Dunedin, FL 34698Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/29/203086.2 86.2 79.1 0.02 %
Amina Financial Solutions LLC dba Expat Tax Solutions(#,^)1433 Chestnut St, Macon, GA 31201Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/24/203017.1 17.1 15.7 — %
82
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Affinity Integrated Solutions Inc.(#,^)115 Pomona Dr, Greensboro, NC 27402Administrative and Support ServicesTerm LoanPrime plus 2.75%1/23/2045289.1 289.1 316.7 0.08 %
Affinity Integrated Solutions Inc(#,^)115 Pomona Dr, Greensboro, NC 27407Administrative and Support ServicesTerm LoanPrime plus 2.75%1/23/2030191.1 191.1 175.5 0.04 %
Align Sports Management, LLC(#,^)15822 Caminito Cantaras, Del Mar, CA 92014Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%1/22/203018.3 18.3 16.9 — %
Emmalina LLC(#,^)3602 Rock Bay Dr, Louisville, KY 40245Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/21/20307.6 7.6 7.4 — %
Motorsport Imagery, Inc(#,^)16362 Cherokee Rd, Brooksville, FL 34601Apparel ManufacturingTerm LoanPrime plus 2.75%1/17/203018.7 18.7 18.0 — %
Lyon Cubs LLC dba Dayton Valley Learning Center(#,^)357 Dayton Valley Rd, Dayton, NV 89403Social AssistanceTerm LoanPrime plus 2.75%1/16/2045160.3 160.3 176.1 0.04 %
Luster Custom Homes LLC(#,^)18801 North Thompson Peak Pkwy, Ste 240, Scottsdale, AZ 85255Construction of BuildingsTerm LoanPrime plus 2.75%1/10/203029.8 29.8 27.4 0.01 %
VetMed LLC(#,^)908 4th Ave, Decatur, AL 35601Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/10/203071.3 71.3 65.5 0.02 %
Jordi X Kellogg, M.D.,P.C(#,^)9200 SE 91st Ave STE 340, Happy Valley, OR 97086Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/10/203050.9 50.9 46.8 0.01 %
CV Flores LLC dba A All Animal Control(#,^)2140 E Southlake Blvd L-503, Southlake, TX 76092Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/9/20303.8 3.8 3.6 — %
Global Information Technology, Inc(#,^)1 Cragwood Rd, Ste 101, South Plainfield, NJ 07080Administrative and Support ServicesTerm LoanPrime plus 2.75%12/31/2029458.5 458.5 421.1 0.11 %
Bearwaters Brewing Company(#,^)101 Park St, Canton, NC 28716Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2044247.8 247.8 278.3 0.07 %
Nick's Country Kitchen, LLC(#,^)3 Flanders Rd, Bethlehem, CT 06751Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2044274.2 274.2 304.0 0.08 %
Home Decor Liquidators, LLC dba Home Decor Outlets;Home Decor Mattress(#,^)8780 Pershall Rd, Hazelwood, MO 63042Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/30/2029103.7 103.7 110.9 0.03 %
Larry J. Frick dba L & S Trucking(#,^)157571 E Wausau Ave, Wausau, WI 54403Truck TransportationTerm LoanPrime plus 2.75%12/30/202940.0 40.0 41.0 0.01 %
Jauchem & Meeh Inc.dba Gregory Meeh Design;Jermy Chernick Design;J&M(#,^)524 Sackett St, Brooklyn, NY 11217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/30/2029209.6 209.6 218.5 0.06 %
Kiddie Garden Child Development Center, LLC(#,^)2809 W. Atkinson Ave, Milwaukee, WI 53209Social AssistanceTerm LoanPrime plus 2.75%12/30/204441.0 41.0 46.3 0.01 %
Spinnaker Vero Inc.(#,^)983 12th St, Vero Beach, FL 32960Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%12/30/2044752.0 752.0 849.1 0.22 %
Dilpreet Hundal dba Kwik Stop(#,^)1001 Sacramento Ave, West Sacramento, CA 95605Gasoline Stations Term LoanPrime plus 2.75%12/30/2044230.8 230.8 260.5 0.07 %
Vance Ewing LLC(#,^)22940 Harlan Ln, St. Robert, MO 65584Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/30/202990.9 90.9 97.2 0.02 %
83
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Mankamana Holdings, LLc dba Perfect Brow Art, Mankamana Holdings, LLC(#,^)7302 Kirby Ave, Lubbock, TX 79424Gasoline Stations Term LoanPrime plus 2.75%12/27/2029111.1 111.1 115.2 0.03 %
Irony LLC dba Mulberry’s Garment Care(#,^)2579 Fairview Ave North, Roseville, MN 55113Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/27/2029910.0 910.0 908.7 0.23 %
Pro-Tek Pest Control, Inc, Pro-Tek Nurseries, LLC, Pro-Tek Irrigation(#,^)8712 60th Terrace South, Lake Worth, FL 33467Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029150.5 150.5 152.6 0.04 %
313 Air Duct LLC Dba Jouny Cleaning Services, M & J Restoration Emerge(#,^)25150 W Warren Ave., Dearborn Heights, MI 48127Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044214.5 214.5 242.1 0.06 %
313 Air Duck LLC dba Jouny Cleaning Services, M & J Restoration Emerge(#,^)25150 W Warren Ave., Dearborn Heights, MI 48127Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029130.9 130.9 133.8 0.03 %
American Landscaping Company and Ground Effects Landscaping, LLC(#,^)6151 A St, Anchorage, AK 99518Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044616.7 616.7 696.3 0.18 %
Protek Pest Control, Inc. Pro-tek Nurseries LLC, Pro-Tek Irrigation(#,^)8712 60TH TER South, Lake Worth, FL 33467Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044135.9 135.9 153.4 0.04 %
K&S Hardware LLC dba Gopher Ace(#,^)1865 Wayzata Blvd, Long Lake, MN 55356Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/27/202950.5 50.5 52.9 0.01 %
Watearth Inc(#,^)3371 Glendale Blvd Ste 208, Los Angeles, CA 90039Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/27/202937.8 37.8 37.6 0.01 %
A Family Member Homecare Group Inc, A Family Member Homecare Holdings(#,^)11788 Sample Rd, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/27/2044117.0 117.0 132.1 0.03 %
QXC Communications, Inc(#,^)4541 N Dixie Hwy, Boca Raton, FL 33431TelecommunicationsTerm LoanPrime plus 2.75%12/27/2029430.7 430.7 429.0 0.11 %
Tatoo Tony's Under My Skin LLC(#,^)73 Memorial Pkwy, Atlantic Highlands, NJ 07716Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/27/204495.4 95.4 107.7 0.03 %
Icebox Cafe L.C. and Icebox Pantry, LLC(#,^)219 NE 3rd St, Hallendale Beach, FL 33009Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/26/2030385.8 385.8 392.2 0.10 %
Bhatti LLC 2, Bhatti LLC(#,^)1451 Coral Ridge Ave, Coralville, IA 52241Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/26/202990.9 90.9 91.4 0.02 %
Ink! Coffee Company(#,^)2851 Larimer St, Denver, CO 80205Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/24/2029447.1 447.1 445.3 0.11 %
Richwood Enterprises, LLC, Richwood Transport LLC, Richwood Transport(#,^)2564 Branch St, Middleton, WI 53562Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/24/2029201.6 201.6 208.8 0.05 %
Synergistic-Designs, LLC(#,^)493 Wilson Mill Rd, New Wilmington, PA 16142Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/24/20296.1 6.1 6.0 — %
Aitheras Aviation Group, LLC and International Aviation Sales, Ltd.(#,^)2301 N Marginal Rd, Cleveland, OH 44114Air TransportationTerm LoanPrime plus 2.75%12/23/2029396.3 396.3 401.7 0.10 %
512 E 11th Street LLC and Big Brand Management Ltd. Co.(#,^)512 E 11th St, Houston, TX 77008Real EstateTerm LoanPrime plus 2.75%12/23/2044318.7 318.7 359.8 0.09 %
84
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

The Lamkin Group LLC and National Championship Enterprises LLC(#,^)901 Lily Creek Rd, Ste 102, Louisville, KY 40243Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/23/2029539.5 539.5 537.5 0.14 %
Chris Farley DVM PA. dba Farley Veterinary Clinic(#,^)6487 Taft St, Hollywood, FL 33024Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202910.9 10.9 11.6 — %
Freedom Enterprises, Inc(#)2431 14th Ave SE, Watertown, SD 57201Truck TransportationTerm LoanPrime plus 2.75%12/20/2029258.9 258.9 261.6 0.07 %
ACC International LLC(#,^)200 N Furnace St, Birdsboro, PA 19508Administrative and Support ServicesTerm LoanPrime plus 2.75%12/20/2044307.6 307.6 347.2 0.09 %
La Tradicion Cubana Inc(#)9357 S.W. 40th St, Miami, FL 33165Miscellaneous Store Retailers Term LoanPrime plus 6.5%12/20/202910.5 10.5 11.7 — %
Macon Arts Center LLC(#,^)4570 Pio Nono Ave, Macon, GA 31206Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/20/2044617.8 617.8 697.5 0.18 %
Freedom Enterprises, Inc(#)2431 14th Ave SE, Watertown, SD 57201Truck TransportationTerm LoanPrime plus 2.75%12/20/2044191.2 191.2 215.9 0.05 %
Nebulos, LLC(#,^)5428 Twilight Way, Parker, CO 80134Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/19/202951.4 51.4 53.1 0.01 %
Kuros, LLC(#,^)21221 Baron Lake Dr, Cedaredge, CO 81413AccommodationTerm LoanPrime plus 2.75%12/19/2044379.6 379.6 428.6 0.11 %
Kuros, LLC(#,^)21221 Baron Lake Dr, Cedaredge, CO 81413AccommodationTerm LoanPrime plus 2.75%11/19/204582.9 82.9 93.6 0.02 %
GDIM Enterprises Inc dba AAMCO(#,^)1657 Whiskey Rd., Aiken, SC 29803Repair and MaintenanceTerm LoanPrime plus 2.75%12/19/202917.4 17.4 17.8 — %
United Capital Group LLC(#,^)23022 La Cadena Dr, Laguna Hills, CA 92653Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/19/2029260.2 260.2 264.1 0.07 %
Skyfall LLC dba EZ Self Storage(#,^)2705 US Hwy 45 North, Henderson, TN 38340Real EstateTerm LoanPrime plus 2.75%12/18/2044139.5 139.5 157.5 0.04 %
Premier Gaming Solutions Inc(#,^)17 South Grand Ave, Pasadena, CA 91105Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/18/20299.1 9.1 9.7 — %
HADD Corp(#)364 Rugby Rd, Cedarhurst, NY 11516Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/17/202910.4 10.4 11.6 — %
J and K Project Management Consultants LLC(#,^)350 Mc Donnell St, Lewisville, TX 75057Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2044298.8 298.8 337.4 0.09 %
Signco America LP & Sparkle corporation Inc.(#,^)7938 Wright Rd, Houston, TX 77041Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/16/2044907.2 907.2 1,024.3 0.26 %
J and K Project Management Consultants dba A. C. T. Construction(#,^)350 Mc Donnell St, Lewisville, TX 75057Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2029167.8 167.8 179.0 0.05 %
Nulane Entertainment LLC(#,^)4100 W. Alameda Ave # 300, Burbank, CA 91505Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/20296.0 6.0 6.0 — %
Dr Steven J Seidel(#,^)42 Campeau Place, Bergenfield, NJ 07621Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/13/202965.6 65.6 65.4 0.02 %
Essex Indoor Golf Center LLC(#,^)23 Saybrook Rd, Essex, CT 06426Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/13/202963.6 63.6 65.1 0.02 %
Jen Macias LLC dba Duende(#,^)2301 NW Thurman St, Portland, OR 97210Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/20296.5 6.5 6.5 — %
85
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

WURA LLC dba Dickey's Barbecue Pit(#,^)4325 E. University Dr, Ste 40, Prosper, TX 75078Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/13/202977.2 77.2 77.8 0.02 %
The Crane Guys, LLC(#,^)14480 Alondra Blvd, La Mirada, CA 90638Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/13/20291,100.8 1,100.8 1,125.9 0.29 %
The Floor Covering Warehouse, Inc(#,^)112 Orchard St, Stamford, CT 06902Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/13/2044228.9 228.9 258.4 0.07 %
Belle Properties Northwest, Inc.(#,^)223 Ave B, Snohomish, WA 98290Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/12/2044125.2 125.2 141.3 0.04 %
Joyner5, Inc.dba British Swim School(#,^)3986 Hope Valley, Wake Forest, NC 27587Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/12/202918.2 18.2 18.1 — %
Abylex, Inc and Worpex LLC(#,^)7473 Reese Rd #2, Sacramento, CA 95828Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/12/204490.6 90.6 100.7 0.03 %
Stockton TRI Industries, LLC(#,^)2141 E Anderson St, Stockton, CA 95205Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/12/20441,056.4 1,056.4 1,192.7 0.30 %
Chambers Funeral Home & Crematorium PA & Riverdale Park Crematory, LLC(#,^)5801 Cleveland Ave, Riverdale, MD 20737Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/11/2044286.1 286.1 323.0 0.08 %
Vaughn Chiropractic, PLLC dba Catalyst Chiropractic and Rehab(#,^)10904 Baltimore St NE, Blaine, MN 55449Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/11/202933.5 33.5 33.4 0.01 %
CCD Construction Services LLC dba Clearwater Outdoor Design, CCD (#,^)175 W Borgfeld Dr, San Antonio, TX 78260Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/11/2044107.3 107.3 121.1 0.03 %
Ciel Du Mel LLC dba Lala's Creamery(#,^)134 Petaluma Blvd North, Petalumaca, CA 94952Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/10/202913.3 13.3 13.5 — %
Helping Hands Group Daycare dba Dawn to Dusk Learning and Child Care(#,^)10 Tremont Rd, Tremont, PA 17981Social AssistanceTerm LoanPrime plus 2.75%12/10/204437.2 37.2 42.0 0.01 %
SLCP Transport, LLC dba Aamco(#,^)1407 Lomaland Dr, El Paso, TX 79935Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/202950.5 50.5 52.2 0.01 %
Elita 7, LLC and Behavioral Nutrition Inc.(#,^)16 Marble St, Worchester, MA 01603Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/9/2029262.3 262.3 272.5 0.07 %
Eagle Eye Truck Lines LLC and Eagle Eye Logistics LLC(#,^)560 56th St SW, Grand Rapids, MI 49548Truck TransportationTerm LoanPrime plus 2.75%12/6/2029888.9 888.9 890.9 0.23 %
Wolf Pack, LLC(#,^)939 South 25th East, Ste. 115, Ammon, ID 83406Management of Companies and EnterprisesTerm LoanPrime plus 2.75%3/6/2030184.8 184.8 187.8 0.05 %
Mazhar Family, Inc dba Edible Arrangements(#,^)601 Portion Rd, Store #17, Lake Ronkonkoma, NY 11779Nonstore Retailers Term LoanPrime plus 2.75%12/6/202954.5 54.5 54.5 0.01 %
Scott's Hardware, Inc., dba Medford Inc(#)200 Tuckerton Rd, Medford, NJ 08055Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 6.5%12/6/202910.4 10.4 11.6 — %
Bay Area Metal Fabricarion LLC(#,^)510 -512 Stone Rd, Benicia, CA 94510Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/6/2029110.5 110.5 112.8 0.03 %
DB Talak LLC(#,^)2018 SE 6th Ave, Portland, OR 97214Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/6/2044151.5 151.5 171.0 0.04 %
86
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

The Stout Group LLC(#,^)10850 NW 138th St, Hialeah Gardens, FL 33018Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/6/2029189.2 189.2 192.9 0.05 %
Glen Lamb dba Lambs Tree And Plant Health Care(#,^)413 Pond Meadow Rd, Westbrook, CT 06498Administrative and Support ServicesTerm LoanPrime plus 2.75%12/6/202915.1 15.1 15.5 — %
Natalie Enterprise Inc(#,^)2500 Grand Ave, Billings, MT 59102Administrative and Support ServicesTerm LoanPrime plus 2.75%12/6/202916.4 16.4 17.5 — %
Clearwater Engineering Inc(#,^)301 N River St, Derby, KS 67037Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/5/2029476.7 476.7 486.6 0.12 %
Used Tire Express 1, Corp(#,^)437 N. Battlefield, Chesapeake, VA 23320Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/5/202969.7 69.7 70.5 0.02 %
Standard Capital Corp(#)2349 Wessington Dr, Virginia Beach, VA 23456Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%12/5/202910.5 10.5 11.7 — %
Hook Line and Schooner Vinings LLC(#,^)400 West Village Way #3009, Smyrna, GA 30008Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/4/202917.6 17.6 18.0 — %
Soto Injury Law Firm, PA and My Attorney Inc(#,^)2050 Capital Circle NE Ste B, Tallahassee, FL 32308Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/202950.3 50.3 50.1 0.01 %
Mega Sales Detergent Distributor, LLC(#,^)1 Ackerman Ave, Clifton, NJ 07011Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/29/202940.1 40.1 39.9 0.01 %
Loading Arms Plus Inc(#,^)5401 Mitchelldale St, Ste B4, Houston, TX 77092Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/27/202963.5 63.5 63.6 0.02 %
Behind the Scenes Chicago, LLC dba Paramount Events(#,^)2744 W. Roscoe St, Chicago, IL 60618Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2029277.0 277.0 283.2 0.07 %
Codorado, Inc. dba Dentalmart(#,^)10 Glorieta Rd, Sante Fe, NM 87508Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/27/20298.4 8.4 8.4 — %
American Bio Source, LLC dba Dieselgreen Fuels(#,^)2522 N Hwy 287, Decatur, TX 76234Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%11/27/202939.5 39.5 42.2 0.01 %
Alice's Tea Cup, ATC !! LLC and ATC 111, LLC(#,^)102 W 73rd St, New York, NY 10023Food ManufacturingTerm LoanPrime plus 2.75%11/27/2029236.2 236.2 236.5 0.06 %
Kanti Group Inc, Marina 84 Sport Bar & Grill LLC and Pub 52 Sports(#,^)2440 Wesr State Rd 84, Fort Lauderdale, FL 33312Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2029139.4 139.4 139.5 0.04 %
Haversack Holdings LLC(#,^)7930 W Kenton Circle, Ste 260, Huntersville, NC 28078Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/27/2029100.2 100.2 99.7 0.03 %
Roots'n Shoots, LLC(#,^)86 Boston Rd, Chelmsford, MA 01824Administrative and Support ServicesTerm LoanPrime plus 2.75%11/27/20298.5 8.5 8.5 — %
Ford Custom Renovation LLC(#,^)405 Broadway St, Muncy, PA 17756Construction of BuildingsTerm LoanPrime plus 2.75%11/26/20296.6 6.6 6.6 — %
Ultra Flow Dispense, LLC(#,^)820 Prospect Hill Rd, Windsor, CT 06095Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/26/202989.0 89.0 88.9 0.02 %
Fullmer's Landscaping, Inc.(#,^)9547 W Third St, Dayton, OH 45417Administrative and Support ServicesTerm LoanPrime plus 2.75%11/26/2029153.0 153.0 154.9 0.04 %
Hurricane Group, Inc.dba Crate Club Group(#,^)1357 Ashford Ave Ste 429, San Juan, PR 09070Other Information ServicesTerm LoanPrime plus 2.75%11/25/202944.5 44.5 44.3 0.01 %
B.S Carrier LLC and United Truck & Trailer Repair LLC(#,^)3716 Garman Rd, Salem, VA 24153Truck TransportationTerm LoanPrime plus 2.75%11/25/2029189.3 189.3 198.5 0.05 %
87
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Cum Laude Enterprises, LLC(#,^)15218 Penn Hills Ln, Houston, TX 77062Nonstore Retailers Term LoanPrime plus 2.75%11/22/202915.4 15.4 15.9 — %
A&N Design Studios Inc dba Door3 Business Application(#,^)370 Lexington Ave Ste 1806, Manhattan, NY 10007Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/202972.1 72.1 74.0 0.02 %
Place Vendome Holding Co Inc.dba R&F Marketing(#)610 East Main St, Swainsboro, GA 30401Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/22/2029189.4 189.4 195.9 0.05 %
Peanut Butter & Co Inc(#,^)119 West 57th St, Ste 300, New York, NY 10019Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/22/2029150.2 150.2 149.6 0.04 %
S&C Cookies, Inc(#,^)1969 Jericho Turnpike, East Northport, NY 11731Miscellaneous Store Retailers Term LoanPrime plus 2.75%11/22/202945.1 45.1 44.9 0.01 %
Best Choice Meats, Inc,(#,^)12646 S Springfield Ave, Alsip, IL 60803Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/22/20441,280.6 1,280.6 1,445.8 0.37 %
ZUMI LLC dba Allstate Insurance(#,^)1537 W 79th St, Chicago, IL 60620Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/22/20299.6 9.6 10.3 — %
Place Vendome Holding Co. Inc.dba R&F Marketing(#)308 Glenwood Rd, Swainsboro, GA 30401Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/22/2044415.2 415.2 468.0 0.12 %
Coral Springs Family Wellness LLC(#,^)2902 North University Dr, Coral Springs, FL 33065Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/21/2030102.5 102.5 102.6 0.03 %
The Rollin' Trapp LLC(#,^)1731 Prevatt Rd, Dothan, AL 36301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/20296.8 6.8 7.0 — %
Cobb Roofing LLC(#,^)8101 NW 10th St, Oklahoma City, OK 73127Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/21/202946.5 46.5 46.3 0.01 %
Weeping Willow Kennel Inc(#,^)6041 Hammond School Rd, Salisbury, MD 21804Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/21/20293.6 3.6 3.8 — %
AMH Construction, Inc.(#,^)30 South Ivey Ln, Orlando, FL 32811Construction of BuildingsTerm LoanPrime plus 2.75%11/20/2044261.9 261.9 295.7 0.07 %
Cable Management LLC(#,^)290 Pratt St, Meriden, CT 06450Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/20/2029110.2 110.2 112.2 0.03 %
AMH Construction, Inc.(#,^)30 South Ivey Ln, Orlando, FL 32811Construction of BuildingsTerm LoanPrime plus 2.75%11/20/202960.1 60.1 63.1 0.02 %
AD Learning Group, LLC dba The Learning Experience & AD Learning NH(#,^)181 Shunpike Rd, Cromwell, CT 06416Social AssistanceTerm LoanPrime plus 2.75%11/18/2029110.1 110.1 109.6 0.03 %
Ryan & Selena LLC dba Head of the Class Learning Center(#,^)1836 Kathleen Rd, Lakeland, FL 33805Social AssistanceTerm LoanPrime plus 2.75%11/18/2044424.3 424.3 479.1 0.12 %
Lindsley Excavating LLC(#,^)92 Town Line Rd, Fulton, NY 13069Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/15/2029154.3 154.3 160.6 0.04 %
MToxins Venom Lab LLC(#,^)717 Oregon St, Oshkosh, WI 54902Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/15/204496.9 96.9 109.4 0.03 %
Champions Of Diversity Media Inc dba Champions of Diversity: Politics(#,^)5100 Transamerica Dr, Columbus, OH 43228Administrative and Support ServicesTerm LoanPrime plus 2.75%11/15/204469.1 69.1 78.1 0.02 %
SSH Princeton LLC dba Stumpy's Hatchet House of Princeton(#,^)745 Alexander Rd, Ste 1-3, Princeton, NJ 08540Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/15/203035.8 35.8 35.7 0.01 %
88
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Ninth Avenue, LLC(#,^)Empire Mall, 5000 W Empire Place, Room 916, Sioux Falls, SD 57106Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/14/203055.1 55.1 55.6 0.01 %
Sean McNamara(#)5639 Wood Ln, Allentown, PA 18106Nonstore Retailers Term LoanPrime plus 6.5%11/14/202910.4 10.4 11.5 — %
Winning Sales Plan Inc(#,^)17811 Fairhaven Gateway, Cypress, TX 77433Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/14/202940.1 40.1 42.7 0.01 %
The Pinnacle Development Group Inc dba The Goddard School(#)105 Springside Dr, Akron, OH 44333Social AssistanceTerm LoanPrime plus 6.5%11/14/202910.4 10.4 11.5 — %
HH Wireless Connect LLC(#,^)48267 Deer Trail Dr, Canton, MI 48187Electronics and Appliance Stores Term LoanPrime plus 2.75%11/12/20296.6 6.6 6.6 — %
Steven French dba French Woodworking(#,^)1101 Horizon Dr Ste 101, Fairfield, CA 94533Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/12/204459.5 59.5 67.2 0.02 %
Adrienne's Gourmet Foods, Imagine Baking Inc(#,^)1034 Hancock St, Sandusky, OH 44870Food ManufacturingTerm LoanPrime plus 2.75%11/12/2044386.8 386.8 436.7 0.11 %
Ameen Enterprises, LLC dba Bargain Town(#,^)1111 E Washington St, Stephenville, TX 76401Gasoline Stations Term LoanPrime plus 2.75%11/12/2029100.2 100.2 106.8 0.03 %
Two Roses Salon 1, Inc.dba National Fluid Power Institute and NFPI(#,^)908 S Jefferson St, Amarillo, TX 79101Educational ServicesTerm LoanPrime plus 2.75%11/12/2029308.1 308.1 316.4 0.08 %
James Richard Farkas Jr. dba Lil Black Bear Inn(#,^)8072 State Rd 46 East, Nashville, TN 47448AccommodationTerm LoanPrime plus 2.75%11/12/2044104.0 104.0 117.5 0.03 %
Adrienne's Gourmet Foods, Imagine Baking, Inc(#,^)1034 Hancock St, Sandusky, OH 44870Food ManufacturingTerm LoanPrime plus 2.75%11/12/2029424.1 424.1 446.0 0.11 %
NJ Floats, Inc(#,^)327 Route 202/206, Bedminster Township, NJ 07921Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/12/2046274.0 274.0 309.3 0.08 %
Integrated Vascular Services LLC(#,^)1452 Franklin Ave, Salem, OR 44460Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/8/202963.2 63.2 63.1 0.02 %
East River Plumbing, LLC(#,^)997 E River Loop, Priest River, ID 83856Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/8/204447.6 47.6 53.8 0.01 %
Link Recreational, Inc(#,^)304 Business Hwy 53, Minong, WI 54859Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/7/2029686.1 686.1 687.4 0.17 %
Link Recreational, Inc(#,^)304 Business Hwy 53, Minong, WI 54859Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/7/2044375.0 375.0 423.3 0.11 %
Guru Kirpa, Inc(#,^)3006 New Castle Ave, New Castle, DE 19720Gasoline Stations Term LoanPrime plus 2.75%10/31/2044185.9 185.9 209.9 0.05 %
Maine Service Corp(#,^)59-24 55th St, Maspeth, NY 11378Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%10/31/202999.3 99.3 106.0 0.03 %
Mariscos El Oceano, Inc.(#,^)5960 S Archer Ave, Chicago, IL 60638Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2044120.3 120.3 135.8 0.03 %
MJ Group, Inc(#,^)26691 Loma Verde, Mission Viejo, CA 92691Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/202917.0 17.0 17.0 — %
C&P Trading and Sales Inc(#,^)950 Peninsula Corporate Circle Ste 3016, Boca Raton, FL 33487Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/31/2029198.7 198.7 197.9 0.05 %
89
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Sunburst Trout Farm, LLC(#,^)314 Industrial Park Dr, Waynesville, NC 28786Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%10/31/2044221.2 221.2 249.7 0.06 %
Fave Realty, Inc.(#,^)217-84 Hempstead Ave, Jamaica, NY 11429Real EstateTerm LoanPrime plus 2.75%10/31/2044111.3 111.3 125.6 0.03 %
L& F Gullo Service Corp(#,^)520 Main St, Westbury, NY 11590Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/31/2029139.1 139.1 138.5 0.04 %
The Committed Pig LLC(#,^)28 West Park Place, Morristown, NJ 07090Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2029236.9 236.9 252.7 0.06 %
Sunburst Trout Farm, LLC(#,^)314 Industrial Park Dr, Waynesville, NC 28786Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%10/31/202953.6 53.6 57.2 0.01 %
Automotive Standard, LLC(#,^)4028 Coldwater Rd, Fort Wayne, IN 46805Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/2044130.8 130.8 147.7 0.04 %
Automotive Solutions, LLC(#,^)1910 W. Dupont Rd, Fort Wayne, IN 46818Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/2044282.9 282.9 319.4 0.08 %
D & H Construction Services, Inc.(#,^)711 Hospital St, Richmond, VA 23219Construction of BuildingsTerm LoanPrime plus 2.75%10/31/2029111.2 111.2 112.8 0.03 %
Kerzner Contracting Corp(#,^)1620 Ocean Ave, Bohemia, NY 11716Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/31/202989.4 89.4 89.1 0.02 %
Lightning Strike Distributing, LLC dba Jedidiah's Jerky & Gournet Snack(#,^)9912 Arizona Dr, Mohave Valley, AZ 86440Miscellaneous Store Retailers Term LoanPrime plus 2.75%10/30/202951.6 51.6 51.8 0.01 %
Plastic Depot, Inc(#,^)363 East Alondra Blvd, Gardena, CA 90248Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%10/30/2029125.7 125.7 125.3 0.03 %
BGB Leasing Inc and BGB Leasing Co.(#,^)50 Industrial Park Rd, Princeton, KY 42445Truck TransportationTerm LoanPrime plus 2.75%10/30/2029921.8 921.8 945.4 0.24 %
Paul Wintner dba P & R Props(#,^)23901 Calabasas Rd, Calabasas, CA 91302Miscellaneous Store Retailers Term LoanPrime plus 2.75%10/30/202944.7 44.7 44.5 0.01 %
BGB Leasing Co.(#,^)50 Industrial Park Rd, Princeton, KY 42445Truck TransportationTerm LoanPrime plus 2.75%10/30/204485.6 85.6 96.6 0.02 %
Blue Agave & Brothers, LLC dba Blue Apachie Mexican Restaurant(#,^)905 Savoy Rd, Youngsville, LA 70592Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/30/202957.8 57.8 58.0 0.01 %
Corple Enterprises, Inc(#,^)17887 US-380, Ponder, TX 76259Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%10/28/2029133.2 133.2 140.6 0.04 %
Marnon Vending LLC dba Naturals 2 Go San Antonio(#,^)6713 Biscay Hbr, San Antonio, TX 78249Nonstore Retailers Term LoanPrime plus 2.75%10/28/20296.3 6.3 6.5 — %
OWL Inc,(#,^)5300 S Orange Blossom Trail, Orlando, FL 32839Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%10/28/2029168.9 168.9 168.2 0.04 %
Perisseia Physicians LLC(#,^)1644 Lebanon Rd, Lawrenceville, GA 30043Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/28/2044380.4 380.4 429.5 0.11 %
Landmark Ventures USA, Inc(#,^)475 Park Ave S, 25th Floor, New York, NY 10016Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%10/25/202983.4 83.4 83.1 0.02 %
Diamond Solutions LLC(#,^)7845 East Evans Rd . Ste A, Scottsdale, AZ 85260Machinery ManufacturingTerm LoanPrime plus 2.75%10/25/202910.1 10.1 10.1 — %
90
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Four Ace Electrical Services Corporation(#,^)3723 Far Niente Way, Sacramento, CA 95834Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/25/20299.5 9.5 9.6 — %
Jbang LLC, WM Bang LLC, Bang Investments LLC(#,^)125 Westchester Ave, White Plains, NY 10601Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/202955.6 55.6 59.2 0.01 %
Fimac Inc dba American Educational Services(#,^)26300 La Alameda, Ste 200, Mission Viejo, CA 92691Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/23/202917.9 17.9 17.9 — %
James Clark and Company, Inc.(#)8885 Haven Ave, Ste 120, Rancho Cucamonga, CA 91730Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%10/22/202910.3 10.3 11.5 — %
Pyle Garage Doors OKC, INC dba Precision Door Service OKC(#,^)8860 S SunnyLn Rd, Oklahoma City, OK 73135Repair and MaintenanceTerm LoanPrime plus 2.75%10/22/202911.6 11.6 11.6 — %
Todd's Car Wash, LLC(#,^)5505 Johnston St, Lafayette, LA 70506Repair and MaintenanceTerm LoanPrime plus 2.75%10/18/2044326.9 326.9 369.1 0.09 %
Owens Family and Cosmetic Dentistry PLLC(#,^)403 E College St, Pulaski, TN 38478Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/17/2029212.9 212.9 215.4 0.05 %
UNIQUE PAVER INSTALLATIONS, INC.(#,^)4930 Mars Hill Rd, Bogart, GA 30622Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/17/202918.3 18.3 18.6 — %
Roughcut LLC(#,^)41540 National Rd, Belmont, OH 43718Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/17/2029367.4 367.4 391.9 0.10 %
Pine Mountain Residential LLC(#)10240 Cosmopolitan Circle, Parker, CO 80134Specialty Trade ContractorsTerm LoanPrime plus 6.5%10/16/202910.3 10.3 11.5 — %
Glenda D Brewer dba Bargain Store(#)107 Tabernacle Church Rd, Candor, NC 27229General Merchandise Stores Term LoanPrime plus 6.5%10/11/202910.3 10.3 11.5 — %
S&D Beauty Spa Inc dba Elite Nails, dba Bella's Nails &dba Onyx Nail(#,^)5604 Slide Rd, Lubbock, TX 79414Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/11/2029134.4 134.4 134.7 0.03 %
Q2 Ventures, LLC(#,^)2805 W Arimo Rd, Arimo, ID 83214Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/8/2029141.0 141.0 149.6 0.04 %
Paketo LLC dba West Loop UPS Store(#,^)623 W Lake St, Chicago, IL 60661Couriers and MessengersTerm LoanPrime plus 2.75%10/4/202913.1 13.1 13.2 — %
A Child's Dream Educational Center LLC(#,^)4127 NW 34th St, Gainesville, FL 32605Social AssistanceTerm LoanPrime plus 2.75%9/30/2044177.3 177.3 200.1 0.05 %
In Power Motors, LLC, In-Power Motors II LLC, In-Power Motors III LLC(#,^)2301 W. Buckeye Rd, Phoenix, AZ 85009Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/30/2044593.4 593.4 669.9 0.17 %
AV Strategy, Inc(#,^)9468 American Eagle Way Ste 100, Orlando, FL 32837Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/30/2029221.9 221.9 227.4 0.06 %
Joseph P Fusco DDS PC(#,^)77 N Centre Ave, Rockville Centre, NY 11570Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/202952.2 52.2 52.0 0.01 %
A Child's Dream Educational Center LLC(#,^)4127 NW 34th St, Gainsville, FL 32605Social AssistanceTerm LoanPrime plus 2.75%9/30/2029160.9 160.9 160.5 0.04 %
Heart and Vascular Associates of Tampa, LLC(#,^)17 David Blvd, Tampa, FL 33606Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/2044735.5 735.5 830.4 0.21 %
50 Taps, LLC dba Colorado Taproom & Grill(#,^)19539 Hess Rd Ste Ste #101, Parker, CO 80134Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/202961.1 61.1 61.1 0.02 %
91
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Atlantic Pacific Hospitality Solutions Inc dba North Beach Bistro(#,^)725 Atlantic Blvd, Atlantic Beach, FL 32233Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/20296.8 6.8 6.8 — %
Meldi Maa, Inc dba The River Complex(#,^)74 S Main St, Woonsocket, RI 02895Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2044407.2 407.2 459.8 0.12 %
Zima Dining Inc. dba Country Kitchen(#,^)1497 N Mt. Vernon Ave, Colton, CA 92324Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/202949.6 49.6 52.8 0.01 %
Wagner & Sons Inc(#,^)22365 Alydar Dr, Lexington Park, MO 20653Nonstore Retailers Term LoanPrime plus 2.75%9/27/202914.8 14.8 14.7 — %
Hoagie Barmichaels Inc(#,^)1101 River Rd, New Windsor, NY 12553Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/2044108.0 108.0 122.0 0.03 %
Double H Services, LLC, C&T Oil Field Services, LLC and Brian S. Holma(#,^)3721 North 162nd St, Garber, OK 73701Support Activities for MiningTerm LoanPrime plus 2.75%9/27/2029903.9 903.9 923.7 0.23 %
Universe Appliance Repairs Inc.(#,^)3790 Merrick Rd, Seaford, NY 11783Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044557.8 557.8 629.7 0.16 %
Aztec Machine & Repair Inc, Cranrd & Material(#,^)1715 N 1st St, Bloomfield, NM 87413Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044676.5 676.5 763.7 0.19 %
Cherry and Candlewood Inc dba Aamco(#,^)3029 South St, Long beach, CA 90805Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044410.8 410.8 463.8 0.12 %
Zmetra Clearspan Structures LLC(#,^)2 Old Worcester Rd, Webster, MA 01571Miscellaneous ManufacturingTerm LoanPrime plus 2.75%9/27/2044415.4 415.4 469.0 0.12 %
Stiegelbauer Associates Inc.(#,^)63 Flushing Ave Unit 342, Brooklyn, NY 11205Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/2029157.6 157.6 156.8 0.04 %
Titan Laser Screed Concrete Services, LLC(#,^)8908 Wildlife Ln, Sanford, FL 32771Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/202939.4 39.4 39.7 0.01 %
Universe Appliance Repairs Inc.(#,^)3790 Merrick Rd, Seaford, NY 11783Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2029521.9 521.9 531.3 0.13 %
Santa Fe Flooring LLC(#,^)3711 Paseo Del Norte NE, Albuquerque, NM 87113Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%9/26/2029392.4 392.4 396.5 0.10 %
Adam's Construction & General Contracting LLC(#,^)7808 N Custer Rd, Freesoil, MI 49411Construction of BuildingsTerm LoanPrime plus 2.75%9/26/202957.4 57.4 58.0 0.01 %
Anderson's Outdoor Adventures, LLC(#,^)4060 SW County Rd 232, Bell, FL 32619Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/25/202917.7 17.7 18.8 — %
Byler, Wolfe, Lutsch and Kampfer CPAs, Inc(#,^)360 East State St, Salem, OH 44460Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/25/204449.7 49.7 56.1 0.01 %
Flamingo Bowl, Inc(#,^)3301 N 23rd St, McAllen, TX 78501Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/24/2029173.9 173.9 178.3 0.05 %
Unified Utility Services LLC(#,^)206 Frankie Ln, Ladson, SC 29456Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/20/2044150.0 150.0 169.4 0.04 %
Standard Real Estate Services LLC(#)500 West Silver Spring Dr, Ste K 200,, Glendale, WI 53217Real EstateTerm LoanPrime plus 6.5%9/19/202910.3 10.3 11.4 — %
Host Marketing, LLC(#)206 Bell Ln, Ste B, West Monroe, LA 71291Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/18/202910.2 10.2 11.3 — %
Payne's Enviromental Service, LLC dba Bamaco(#,^)5617 Causeway Blvd, Tampa, FL 33619Administrative and Support ServicesTerm LoanPrime plus 2.75%9/18/2044495.5 495.5 559.5 0.14 %
92
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Vancole Investments, Inc. dba Smoothie King #913 &;Dream Development(#,^)876 Virginia Ave, Hapeville, GA 30354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/20299.4 9.4 9.4 — %
Natalie Hart LLC dba Lady of Luxury &dba Country Sugar Events(#,^)1702 Fawn Gate St, San Antonio, TX 78248Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/17/202948.9 48.9 50.5 0.01 %
Win Health Institute, LLC(#,^)711 E Valley Rd, Basalt, CO 81621Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/17/20295.9 5.9 6.0 — %
Bay Bowl Inc dba Shasta Lanes(#,^)11093 Black Marble Way, Redding, CA 96003Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/13/2044510.3 510.3 576.2 0.15 %
ACSS CPA, LLC(#,^)1016 S Texas Blvd, Weslaco, TX 78599Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/12/204437.9 37.9 42.8 0.01 %
Oak Park Social LLC(#,^)14691 W 11 Mile Rd, Oak Park, MI 48237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/12/2045127.7 127.7 144.2 0.04 %
The Steel Method LLC dba Sneeze It(#,^)250 Passaic Ave Ste 200, Fairfield, NJ 07004Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/12/2029132.9 132.9 132.3 0.03 %
Covert Recordings LLC(#,^)31-65 138th St Apt 3K, Flushing, NY 11354Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/11/20299.3 9.3 9.9 — %
Miami Squeeze Inc dba Miami Squeeze, LLC(#,^)18315 W. Dixie Hwy, North Miami Beach, FL 33160Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/11/202991.0 91.0 92.8 0.02 %
Body on Cue Health and Fitness LLC(#,^)129 A Orpha Dr, Middlebury, IN 46840Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/6/202935.4 35.4 35.5 0.01 %
Philly Games Inc.dba Queen & Rock Game Cafe(#,^)607-609 S 2nd St, Philadelphia, PA 19147Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/5/202949.1 49.1 48.9 0.01 %
Eco Electric LLC(#,^)5380 Cameron St, Las Vegas, NV 89118Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/5/202951.8 51.8 51.4 0.01 %
SVT Masonry Limited Liability Company(#,^)1208 Houghton Ln, Bennington, VT 05201Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/5/202958.5 58.5 61.5 0.02 %
Dog House Sportfishing Charters Inc(#)83413 Overseas Hwy, Islamorada, FL 33036Scenic and Sightseeing TransportationTerm LoanPrime plus 6.5%8/30/202910.1 10.1 11.2 — %
No Push Backs, LLC(#)5405 Neshaminy Blvd, Bensalem, PA 19020Personal and Laundry ServicesTerm LoanPrime plus 6.5%8/30/20299.8 9.8 10.9 — %
Double Scoop Ice Cream, LLC(#,^)2970 Stonecrest Pass, Lithonia, GA 30038Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/29/204491.7 91.7 103.6 0.03 %
3C Consumer Network & Designs LLC(#,^)7676 Hillmont St, Ste 109, Houston, TX 77040Real EstateTerm LoanPrime plus 2.75%8/29/202911.7 11.7 11.9 — %
Camror LTD dba Jersey Mike's(#,^)5946 Meijer Dr, Cincinnati, OH 45150Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/29/203070.8 70.8 75.7 0.02 %
Crown Heights Bunch O Bagels & More Inc & 361 Bagel Holding LLC(#,^)361 Troy Ave, Brooklyn, NY 11213Food and Beverage Stores Term LoanPrime plus 2.75%8/29/202931.2 31.2 33.3 0.01 %
Esquire Mini Mart LLC & Morgan Store Building LLC(#,^)12595 S Somerton Ave, Yuma, AZ 85365Food and Beverage Stores Term LoanPrime plus 2.75%8/29/202940.0 40.0 41.7 0.01 %
Groton Bowling Center and Entertainment Inc(#,^)27 Kings Hwy, Groton, CT 06340Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/29/2044930.1 930.1 1,050.1 0.27 %
HRS2, LLC(#,^)5410 Pipers Creek Court, Sugar Land, TX 77479Nonstore Retailers Term LoanPrime plus 2.75%8/28/2029180.8 180.8 189.8 0.05 %
93
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

DB Talak LLC(#,^)2018 SE 6th Ave, Portland, OR 97214Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/28/202974.1 74.1 78.8 0.02 %
Khari E. J. Myers dba Khari Imagery & 190 Minerva LLC(#,^)190 Minerva St, Tonawanda, NY 14150Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/28/204457.0 57.0 64.3 0.02 %
Blue Eagle Transport Inc.,Golden Eagle Tran and Green Eagle Transport(#,^)377 Boston Post Rd, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%8/28/2029386.5 386.5 391.0 0.10 %
Linsey Schwertdfeger,, Inc.(#,^)740 Dennery Rd, San Diego, CA 92154Repair and MaintenanceTerm LoanPrime plus 2.75%8/28/202955.4 55.4 55.4 0.01 %
Maryland Urgent Care, Inc.(#,^)9831 Greenbelt Rd Ste 208 (Unit H-2), Lanham, MD 20706Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/27/204443.7 43.7 49.4 0.01 %
ADA Internacional Inc(#,^)10891 La Reina Rd, Ste 100, Delray Beach, FL 33446Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%8/26/202917.6 17.6 17.5 — %
Crystal S. Prado dba Crystal Clear Accounting(#)34099 Tuscan Creek Way, Temecula, CA 92592Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/26/20292.6 2.6 2.9 — %
Elite Motors LLC(#,^)1046-1050 Orange Ave, West Haven, CT 06516Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%8/23/202973.2 73.2 77.9 0.02 %
SRJ construction Corp(#,^)8358 W Oakland Park Blvd. #203E, Sunrise, FL 33351Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/23/20298.8 8.8 8.8 — %
PJT Logistics, Inc.(#,^)2-4 Commerce Way, Auburn, NY 13021Truck TransportationTerm LoanPrime plus 2.75%8/23/202940.3 40.3 42.9 0.01 %
MS Integrated Psychotherapy & Counseling, LLC(#,^)1157 Main St, Clifton, NJ 07011Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/22/202958.0 58.0 59.5 0.02 %
The Roux Southern Kitchen, LLC(#,^)252 FM 3162, Sandia, TX 78383Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/22/202914.2 14.2 15.1 — %
Metro R Services Inc. and Metal & Roof Supplies, Inc.(#,^)20 Universal Place, Carlstadt, NJ 07072Repair and MaintenanceTerm LoanPrime plus 2.75%8/21/2029151.3 151.3 157.7 0.04 %
William Martinez dba Bad Ass Coffee of Hawaii(#,^)14101 Main St, Ste 4101, Hesperia, CA 92345Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/20/202918.1 18.1 18.2 — %
Auto Unique LLC(#,^)305 W Main St, Mayo, FL 32066Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%8/20/204411.7 11.7 13.2 — %
Signature Rooms, Inc.(#,^)2066 Route 112, Medford, NY 11763Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%8/19/2029131.8 131.8 140.3 0.04 %
American Healthy Vending, Inc(#,^)5420 NW 161 St, Palmetto Lakes, FL 33014Nonstore Retailers Term LoanPrime plus 2.75%8/15/202983.0 83.0 84.4 0.02 %
Accent Home Services LLC dba Benjamin Franklin Plumbing of Kansas City(#,^)7748 Troost Ave, Kansas City, MO 64131Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/15/202980.2 80.2 83.2 0.02 %
Accelerate Educational Solutions, LLC dba Tutor My Success(#,^)135 Clove Branch Rd, Hopewell Junction, NY 12533Educational ServicesTerm LoanPrime plus 2.75%8/14/202913.5 13.5 13.4 — %
Ranson Excavating, Inc(#,^)8343 Kaula Dr, Fair Oaks, CA 95628Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/13/202911.3 11.3 11.3 — %
Love Playing LLC(#,^)2200 Eastridge Loop, San Jose, CA 95122Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/9/2030142.5 142.5 145.2 0.04 %
94
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Elixir Enterprises, LLC dba Guilford Renee's(#,^)637 Boston Post Rd, Guilford, CT 06437Food and Beverage Stores Term LoanPrime plus 2.75%8/8/202915.3 15.3 15.2 — %
Accord Law, APC(#,^)82555 Grass Flat Ln, Indio, CA 92203Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/2/20295.9 5.9 5.8 — %
East Coast Flight Services, Inc and Aviation Consulting Enterprise(#,^)27603 Pkwy Rd, Easton, MD 21601Air TransportationTerm LoanPrime plus 2.75%7/31/2029424.0 424.0 430.2 0.11 %
Billy Auto Inc(#,^)632 N Broadway , Amityville, NY 11701Repair and MaintenanceTerm LoanPrime plus 2.75%7/31/2044307.7 307.7 347.4 0.09 %
St. Francis Home Health Inc(#,^)5246 SW 8th St 103B, Coral Gables, FL 33134Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/31/202958.1 58.1 57.7 0.01 %
Quick and Quality Services dba Bella Roma Pasta & Pizza & Farshad(#,^)28940 Golden Lantern, Laguna Niguel, CA 92677Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/20298.8 8.8 9.0 — %
Canyon Lake Kids Academy, LLC(#,^)130 Charter Oak Dr, Canyon Lake, TX 78133Social AssistanceTerm LoanPrime plus 2.75%7/31/204493.0 93.0 105.0 0.03 %
Genecco Produce, Inc. & Leo Genecco & Sons, Inc.(#,^)1850 Rochester Rd, Canadaigua, NY 14424Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%7/31/2029619.5 619.5 643.4 0.16 %
Gray Rock Quarry, LLC and William E Dailey III(#,^)54 West Milton Rd, Milton, VT 05468Mining (except Oil and Gas)Term LoanPrime plus 2.75%7/31/2044426.8 426.8 476.9 0.12 %
La Mount Group LLC(#,^)3111 Princeton Rd, Hamilton, OH 45011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/2029197.5 197.5 196.2 0.05 %
Jbelis Stop N' Go, LLC dba Planet Smoothie(#,^)2565 E 17th St, Ammons, ID 83406Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/30/202915.9 15.9 15.9 — %
Dant A Sandras, D.D.S. LLC(#,^)13373 Hwy 3235, Larose, LA 70373Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/30/2029195.7 195.7 196.5 0.05 %
Aeromax Industries, Inc, HITM, Inc and TMCB LLC(#,^)9027 Canoga Ave, Canoga Park, CA 91301Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%7/30/2044746.5 746.5 842.8 0.21 %
Grad Street LLC(#)2437 Corinth Ave Apt 130, Los Angeles, CA 90064Nonstore Retailers Term LoanPrime plus 6.5%7/30/20295.8 5.8 6.5 — %
Micheal Birch and Tracy M. Pierce(#,^)E 2947 H-44, Traunik, MI 49891Gasoline Stations Term LoanPrime plus 2.75%7/29/204451.3 51.3 58.0 0.01 %
Sou's LLC(#,^)739 NE MLK Blvd, Portland, OR 97221Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/26/20294.6 4.6 4.7 — %
Power Associates Inc.(#,^)2766 West Good CT, Boise, ID 83702Real EstateTerm LoanPrime plus 2.75%7/26/202911.6 11.6 11.5 — %
Dan Dahlin Inc.(#,^)16465 MN-65, Ham Lake, MN 55304Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/26/2044387.2 387.2 437.1 0.11 %
Moore Chiropractic Center, P.A.(#,^)936 Roosevelt Trail Unit 1 & 2, Windham, ME 04062Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/26/20297.1 7.1 7.5 — %
Franklin Care Pharmacy Incorporated(#,^)520 N Franklintown Rd, Baltimore, MD 21223Health and Personal Care Stores Term LoanPrime plus 2.75%7/25/202942.0 42.0 44.7 0.01 %
A&W ALF, LLC dba A & W Assisted Living Facility(#,^)6600 Liberty Rd, Gwynn Oak, MD 21207Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%7/24/204494.0 94.0 106.2 0.03 %
Hardrock Alpha Enterprises, LLC(#,^)5101 Stine Rd, Bakersfield, CA 93313Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/19/202912.2 12.2 12.3 — %
95
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Lawrence Adeyemo & Co LLC(#)209-34 112 Ave, Queens Village, NY 11429Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%7/19/20298.1 8.1 8.9 — %
700 Services Inc.dba 700 Credit Repair(#,^)1201 N Goliad St, Rockwall, TX 75087Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%7/19/20295.8 5.8 5.8 — %
Bonfire Hot Yoga LLC(#,^)3665 SW Hall Blvd, Beaverton, OR 97005Educational ServicesTerm LoanPrime plus 2.75%7/18/20296.4 6.4 6.4 — %
JDM2 Water Station LLC(#,^)125 Chestnut Hill Dr, York, PA 17408Nonstore Retailers Term LoanPrime plus 2.75%7/18/2029162.1 162.1 167.0 0.04 %
Baton Rouge Cargo Services Inc(#,^)6013 McRaven Rd, Jackson, MS 39209Support Activities for TransportationTerm LoanPrime plus 2.75%7/17/2044277.3 277.3 313.1 0.08 %
Adam Family Bowl Inc(#,^)1504 Chestnut St, Mishawaka, IN 46545Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/16/2044125.9 125.9 142.2 0.04 %
Garage Floor Coating of MN.com,LLC(#,^)6701 West 23rd St, St. Louis Park, MN 55426Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/16/2044946.0 946.0 1,068.0 0.27 %
Bouquet Canyon Kennels(#,^)29973 Bouquet Canyon Rd, Santa Clarita, CA 91390Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/16/2044285.3 285.3 322.1 0.08 %
Beacon Metal Fabricators, Inc.(#,^)5425-D Hamilton Ave, Cleveland, OH 44114Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%7/12/202954.2 54.2 56.1 0.01 %
Last Touch, LLC(#,^)1612 Jackson St, Spirit Lake, IA 51360Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%7/11/204496.2 96.2 108.6 0.03 %
D DeGregoria LLC dba The UPS Store 4235 Massapequa(#,^)4940 Merrick Rd, Massapequa Park, NY 11762Couriers and MessengersTerm LoanPrime plus 2.75%7/10/202961.4 61.4 61.6 0.02 %
Menskha Inc(#)88 High St, Mountclair, NJ 07042Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%7/10/202910.1 10.1 11.2 — %
Nash-Delphia LLC(#,^)2135 Gallatin Pike N, Store 4, Madison, TN 37115Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%7/2/20297.1 7.1 7.0 — %
Nevada Recycling and Salvage LTD, AMCB LLC(#,^)1085 Telegraph St, Reno, NV 89502Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/28/20441,177.4 1,177.4 1,329.3 0.34 %
Upul's Travel Service & Tours Inc(#,^)654 Shoppers Ln, Covina, CA 91723Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2029246.4 246.4 244.2 0.06 %
5161 LLC(#,^)1478 E Mountain Dr, Santa Barbara, CA 93108Nonstore Retailers Term LoanPrime plus 2.75%6/28/2029486.5 486.5 516.7 0.13 %
Big Picture Group LLC(#,^)935 N La Jolla, Los Angeles, CA 90046Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/28/2029124.5 124.5 123.4 0.03 %
Richmond Street Partners, LLC(#,^)200 E Chestnut St, Chicago, IL 60611Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%6/28/202979.7 79.7 79.3 0.02 %
Crestview Ridge Farms LLC(#,^)1172 Co Rd 956, Ashland, OH 44805Crop ProductionTerm LoanPrime plus 2.75%6/28/2044509.3 509.3 575.0 0.15 %
K & K Restaurant LLC(#,^)6607 S Central Ave, Phoenix, AZ 85042Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2044117.6 117.6 132.7 0.03 %
Good News Cafe, LLC(#,^)694 Main St South, Woodbury, CT 06798Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2044236.4 236.4 266.9 0.07 %
Port Huron Ophthalmology, PLLC dba Black River Optical(#,^)1660 Stone St, Port Huron, MI 48060Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/202911.5 11.5 11.4 — %
96
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Advance Transit LLC(#,^)574-614 Tonnelle Ave, Jersey City, NJ 07307Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/28/2044746.0 746.0 842.2 0.21 %
Jian Yang and Kanger House LLC(#,^)48 Horse Hill Rd, Cedar Knolls, NJ 07927Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/27/202992.1 92.1 91.5 0.02 %
Sundown Audio, LLC(#,^)514 West 21St St, Newton, NC 28658Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/28/2044859.3 859.3 970.1 0.25 %
Balboa Fashion LLC(#,^)1016 S. Towne Ave, Unit 123, Los Angeles, CA 90021Apparel ManufacturingTerm LoanPrime plus 2.75%6/28/20295.8 5.8 5.7 — %
Baobab Asset Management LLC(#,^)2 Greenwich Office Park, Ste 260, Greenwich, CT 06831Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/28/202938.8 38.8 38.5 0.01 %
NJ Floats Inc(#,^)1 Robertson Rd, Ste 13, Bedminster, NJ 07921Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/2044172.3 172.3 194.6 0.05 %
Upul's Travel Service & Tours Inc(#,^)654 Shopping Ln, Covina, CA 91723Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2044343.5 343.5 387.7 0.10 %
S & T Hardware Inc(#,^)2300 Nooseneck Hill, Coventry, RI 02816Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/27/2044190.5 190.5 215.0 0.05 %
Crescent Event Productions, Inc(#,^)1327 Wood Branch Dr, Charlotte, NC 28273Administrative and Support ServicesTerm LoanPrime plus 2.75%6/27/2029268.7 268.7 270.5 0.07 %
Ailky Corporation & Wyspen(#,^)352 Bedford St, Lakeville, MA 02347Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/27/202937.4 37.4 37.1 0.01 %
All-City Towing LLC, Jeffrey James Piller(#,^)1213 W Mallory Ave, Milwaukee, WI 53221Support Activities for TransportationTerm LoanPrime plus 2.75%6/26/2029310.4 310.4 321.5 0.08 %
Lynx Inspection Technologies LLC(#,^)8101 Miller Rd 2, Houston, TX 77049Support Activities for MiningTerm LoanPrime plus 2.75%6/26/2044550.6 550.6 621.6 0.16 %
Soft Touch Tissue & Paper LLC(#,^)1491 Hammond St, Bangor, ME 04401Paper ManufacturingTerm LoanPrime plus 2.75%6/26/2044220.7 220.7 249.2 0.06 %
Tekoa Enterpises, Inc(#,^)1033 Cannon Bridge Rd, Cordova, SC 29039Truck TransportationTerm LoanPrime plus 2.75%6/26/202944.2 44.2 44.8 0.01 %
Selective Automotive & Accessories Group, Inc(#,^)2221 Pelham Pkwy, Pelham, AL 35124Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/26/2029191.6 191.6 195.8 0.05 %
Child Care Ventures LLC dba Childcare Adventures ELC(#,^)3542 Glendale Ave, Toledo, OH 43614Social AssistanceTerm LoanPrime plus 2.75%6/26/2044139.5 139.5 157.5 0.04 %
Soft Touch Tissue & Paper LLC(#,^)1491 Hammond, Bangor, MA 04401Paper ManufacturingTerm LoanPrime plus 2.75%12/26/202991.0 91.0 97.0 0.02 %
Vanchoc Transport Inc(#,^)275 52nd St, Brooklyn, NY 11220Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/25/202933.4 33.4 34.2 0.01 %
Paradise Towing & Recovery Inc(#,^)1115 S. Horner Blvd, Sanford, NC 27330Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/204469.4 69.4 78.3 0.02 %
Paradise Towing & Recovery Inc(#,^)1115 S Homer Blvd, Sanford, NC 27330Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/202950.9 50.9 54.1 0.01 %
Spartan Technology Solutions, Inc(#,^)125 Venture Blvd, Spartanburg, SC 29306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/2044461.9 461.9 521.5 0.13 %
Professional Tire Limited Liability Company(#,^)6655 Country Rd 32, Norwich, NY 13815Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/2044131.9 131.9 148.9 0.04 %
97
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Sweets By Karla LLC(#,^)3273 South John Young Pkwy, Kissimmee, FL 34746Food ManufacturingTerm LoanPrime plus 2.75%6/24/20299.8 9.8 9.8 — %
Krsto, LLC dba Italian Butter Breadsticks(#,^)34683 Nova Dr, Clinton Twp, MI 48035Food ManufacturingTerm LoanPrime plus 2.75%6/24/2044180.4 180.4 203.6 0.05 %
Scissor Kids Inc(#,^)63 Hebron Ave, Ste F, Glastonbury, CT 06033Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/24/20297.8 7.8 7.8 — %
Port Diesel L.L.C.(#)3212 Alex Trask Dr, Castle Hayne, NC 28429Repair and MaintenanceTerm LoanPrime plus 6.5%6/21/202910.0 10.0 11.0 — %
Peninsula Self Defense LLC(#,^)2766 Bay Rd, Redwood City, CA 94063Educational ServicesTerm LoanPrime plus 2.75%6/21/20294.0 4.0 4.1 — %
Campuscuts LLC(#)930 Robtrice Ct, Edmond, OK 73430Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/21/20296.0 6.0 6.7 — %
William Rose Inc(#,^)1 Grace Cove Rd, New Shoreham, RI 02807Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/21/204482.7 82.7 91.7 0.02 %
LuLuBelle's Mountain Banana Bread LLC(#,^)31621 Pleasant Dr., Running Springs, CA 92382Food ManufacturingTerm LoanPrime plus 2.75%12/21/2045245.1 245.1 276.7 0.07 %
Small Batch Creations Inc. dba The Office Bar & Grill(#,^)295 E WASHINGTON AVE, SUNNYVALE, CA 94086Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/202947.8 47.8 47.4 0.01 %
Central Texas Hygiene, LLC.(#,^)10201 McKalla Place, Austin, TX 78758Administrative and Support ServicesTerm LoanPrime plus 2.75%6/20/202966.3 66.3 65.8 0.02 %
Zion Motors Inc(#,^)6949 Wall Triana Hwy, Madison, AL 35757Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/19/204457.4 57.4 64.8 0.02 %
Bader Furniture Company Inc.(#,^)704 N Liberty St, Shamokin, PA 17872Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%6/19/20295.8 5.8 6.1 — %
Beck's Pub & Grill LLC(#,^)N6630 WI-49, Weyauwega, WI 54983Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/204466.2 66.2 74.7 0.02 %
Ivesters Transportation, Inc(#,^)4299 South 2675 West, Roy, UT 84067Truck TransportationTerm LoanPrime plus 2.75%6/11/2029187.9 187.9 189.1 0.05 %
Archer Cleaners Inc(#)1514 W. 33rd St, Chicago, IL 60608Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/10/202910.0 10.0 11.0 — %
J&A Elliott Company(#,^)1118 Thornberry Dr, Clarksville, TN 37043Nonstore Retailers Term LoanPrime plus 2.75%6/7/20298.1 8.1 8.6 — %
Neely Motorsports, Inc dba Earl's Store #1;Earl's Performance Plumbing(#,^)15825-15827 Hawthorne Blve, Lawndale, CA 90260Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/7/2044229.2 229.2 258.7 0.07 %
Throop Family Holding Inc dba Klamath Basin Metals and Supply(#,^)7130 Crater Lake Hwy, White City, OR 97503Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/7/202930.7 30.7 31.2 0.01 %
Allison K. Chipak dba Still Photography(#)195 Terrace Place, Apt. 2, Brooklyn, NY 11218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/6/202910.0 10.0 11.0 — %
Jamestown Quick Stop LLC(#,^)3097 24th Ave, Hudsonville, MI 49426Food and Beverage Stores Term LoanPrime plus 2.75%6/5/204465.9 65.9 74.4 0.02 %
Preferred Manufacturing Services Inc(#,^)4261 Business Dr, Cameron Park, CA 95682Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/5/2029364.7 364.7 387.4 0.10 %
98
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Oasis Senior Advisors Franchise Systems, LLC(#,^)24870 Burnt Pine Dr, Bonita Springs, FL 34134Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)Term LoanPrime plus 2.75%6/4/2029232.9 232.9 247.4 0.06 %
Evoke Growth Advisory LLC(#,^)2600 Brookwood Way Dr, Unit 311, Rolling Meadows, IL 60008Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/3/20295.8 5.8 5.7 — %
G.S.A.T. Restoration Inc. dba Paul Davis Restoration & Remodeling(#,^)1450 Oakbrook Dr, Norcross, GA 30093Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/31/202988.4 88.4 88.7 0.02 %
Martin Inventory Management, LLC(#,^)304 1/2 Main St, Edgefield, SC 29824Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/31/202938.0 38.0 40.4 0.01 %
V & M Transportation LLC(#,^)1307 27th St Apt B, North Bergen, NJ 07047Truck TransportationTerm LoanPrime plus 2.75%5/31/202910.0 10.0 9.9 — %
Morey Publishing LLC(#,^)575 Underhill Blvd, Ste 216, Syosset, NY 11791Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/31/202947.6 47.6 47.3 0.01 %
Inside & Out Maintenance LLC(#,^)1698 SW Pancoast St, Port St Lucie, FL 34987Administrative and Support ServicesTerm LoanPrime plus 2.75%5/30/202976.1 76.1 75.7 0.02 %
Aspen Welding LLC(#,^)28803 US-6, Rifle, CO 81650Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%5/30/2044386.7 386.7 436.6 0.11 %
AGR, Inc(#,^)2-255555 Kaumualii Hwy, Kalaheo, HI 96741Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/2044768.8 768.8 868.0 0.22 %
Brooklyn Breakfast Shop LLC(#,^)7707 S IH 35 Frontage Rd #730, Austin, TX 78744Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/20293.8 3.8 3.9 — %
PD Financial LLC(#,^)364 Parsippany Rd, Unit 7-B, Parsippany, NJ 07054Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%5/28/204433.7 33.7 38.1 0.01 %
2820 US HWY 98 N LLC dba Total Package Car Wash(#,^)2820 US Hwy 98 N, Lakeland, FL 33805Repair and MaintenanceTerm LoanPrime plus 2.75%5/23/2029101.3 101.3 107.6 0.03 %
MCM Design LLC(#)5926 Vinings Vintage Way, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/23/20297.7 7.7 8.5 — %
McGuckin & Pyle Inc(#,^)120 Corporate Ln, New Bern, NC 28562Machinery ManufacturingTerm LoanPrime plus 2.75%5/23/2044291.4 291.4 328.9 0.08 %
ES&A, INC., A LAW CORPORATION(#,^)1003 Bishop St, Honolulu, HI 96813Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/22/202985.6 85.6 85.2 0.02 %
Kappa Investments LLC dba Buddy's Home Furnishings(#,^)365 Lowe's Dr, Ste H, Danville, VA 24540Rental and Leasing ServicesTerm LoanPrime plus 2.75%5/17/2029330.1 330.1 327.9 0.08 %
Covalent Holding LLC(#,^)18 West Chestnut St,Unit 2F, Chicago, IL 60610Nonstore Retailers Term LoanPrime plus 2.75%5/17/2029200.9 200.9 206.8 0.05 %
BD Branson Victorian LLC dba Branson Surrey Inn(#,^)430 a/k/a 450 South Hwy 165, Branson, MO 65616AccommodationTerm LoanPrime plus 2.75%5/17/2029194.3 194.3 206.4 0.05 %
CJNR LLC dba Chenney Bear Cafe, Elma Lodge & Suites, Parkhurst Motel(#,^)208 East Main St, Elma, WA 98541AccommodationTerm LoanPrime plus 2.75%5/16/202914.3 14.3 15.2 — %
Cut To The Chase 502 LLC(#,^)6903 Lakegreen Ct, Louisville, KY 40291Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/16/20292.6 2.6 2.6 — %
Two Pie Lovers LLC dba Pizza Outpost(#,^)302 E. Millitary Hwy U1122, Brackettville, TX 78832Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/10/204441.3 41.3 46.6 0.01 %
99
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

The Lobster Pot Inc(#,^)119 Hope St, Bristol, RI 02809Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/10/2044349.1 349.1 394.1 0.10 %
NYM Solutions Inc.dba NYM Solutions, Inc(#)12150 SW 128th St CT Ste 209, Miami, FL 33186Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%5/6/20299.9 9.9 10.9 — %
Folklore Music Exchange LLC(#,^)617 Tennessee Ave, Charleston, WV 25302Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%5/6/20293.8 3.8 3.8 — %
Life View Prenatal Imagery, LLC(#,^)312 79th Ave North, Myrtle Beach, SC 29572Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/3/20294.6 4.6 4.6 — %
Global Enterprises LLC dba Verdi Pizza(#,^)3111 S Valley View Blvd, Las Vegas, NV 89102Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/3/202915.9 15.9 15.7 — %
EPIFAB,LLC(#,^)1341 Brooks St Unit D, Ontario, CA 91762Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%5/3/202916.2 16.2 16.5 — %
Art Amore Studios, LLC(#,^)6507 Jester Blvd, Ste #107, Austin, TX 78750Educational ServicesTerm LoanPrime plus 2.75%5/3/20294.2 4.2 4.2 — %
Modern Trousseau, LLC(#,^)125 Bradley Rd, Woodbridge, CT 06525Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%5/1/2029122.2 122.2 129.8 0.03 %
Midlothian Hardware, Inc dba Grills True Value(#,^)475 West 147th St, Midlothian, IL 60445Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%4/29/202930.2 30.2 32.0 0.01 %
Sona USA, Inc(#,^)15280 NW 79th Ct Ste 109, Miami Lakes, FL 33016TelecommunicationsTerm LoanPrime plus 2.75%4/26/2029124.5 124.5 126.9 0.03 %
Pellegrin Marine Transportation, LLC(#,^)117 Country Village Dr, Raceland, LA 70394Support Activities for TransportationTerm LoanPrime plus 2.75%4/26/2029112.9 112.9 114.4 0.03 %
La Dolce Vita LLC.(#,^)196 N. Holiday Rd, Miramar Beach, FL 32550Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/25/2044444.4 444.4 501.7 0.13 %
La Dolce Vita, LLC, La Dolce Vita Watersports LLC, LDV Golf Cart(#,^)196 N. Holiday Rd, Miramar Beach, FL 32550Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/25/2029377.2 377.2 383.3 0.10 %
Jones Roger Sherman Inn, Inc.(#,^)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/25/2029115.2 115.2 122.4 0.03 %
All My Best Inc.(#,^)4320 Anthony Court Stes 1,2,3, Rocklin, CA 95677Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%4/19/202947.2 47.2 47.6 0.01 %
ER & DC McPherson Holdings, LLC(#,^)6957 W Broward Blvd., Plantation, FL 33317Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/19/202937.0 37.0 37.0 0.01 %
2Choice2Friends dba 2 N 1 Salad Bar and Grill(#)901 W Braker Ln, Austin, TX 78758Food Services and Drinking PlacesTerm LoanPrime plus 6.5%4/17/20299.8 9.8 10.8 — %
Expert Building Services LLC(#,^)74 Roosevelt St, Pequannock Township, NJ 07440Administrative and Support ServicesTerm LoanPrime plus 2.75%4/17/202915.4 15.4 15.2 — %
Rello, Inc. dba ID Salon(#)8063 Jericho Turnpike, Woodbury, NY 11797Personal and Laundry ServicesTerm LoanPrime plus 6.5%4/17/20294.7 4.7 5.2 — %
Modern Demo & Services LLC(#,^)10161 W Park Run Dr, Las Vegas, NV 89145Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/202994.3 94.3 94.0 0.02 %
Pranamji Inc dba Ohara's Beverage Spot(#,^)2300 Levit Rd, Lorain, OH 44052Food and Beverage Stores Term LoanPrime plus 2.75%4/16/204444.5 44.5 50.3 0.01 %
100
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Bill Berger LLC(#,^)8728 Tireman Ave, Detroit, MI 48204Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%4/12/20296.8 6.8 6.7 — %
Southern Gulf Construction, Inc.(#,^)367 Pine Island Rd, North Fort Myers, FL 33903Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/202983.9 83.9 87.5 0.02 %
J.T. ONeill Company, LLC(#,^)19972 Willowin Farm Ln, Purceville, VA 20132Real EstateTerm LoanPrime plus 2.75%4/12/20297.3 7.3 7.3 — %
P. Moss Enterprises, LLC dba Garage Experts-Mid Atlantic(#,^)3563 South River Terrace, Edgewater, MD 21037Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/202933.2 33.2 33.4 0.01 %
Samco Food Corp dba C-Town Supermarket(#,^)1761 Nostrand Ave, Brooklyn, NY 11226Food and Beverage Stores Term LoanPrime plus 2.75%4/12/202975.4 75.4 74.8 0.02 %
Maxiflex LLC(#,^)512 Verret St, New Orleans, LA 70114Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%4/11/202947.1 47.1 50.1 0.01 %
VRGE Strategies LLC(#,^)1155 15th St NW, Washington, DC 20005Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/10/202947.8 47.8 47.4 0.01 %
Georgetown Milling Co, LLC(#,^)9001 Wentworth Springs Rd, Georgetown, CA 95634Wood Product ManufacturingTerm LoanPrime plus 2.75%4/9/20299.6 9.6 9.7 — %
FRAJOVI Urban Air, LLC dba Urban Air Trampoline& Adventure Park(#,^)1256 Indian Head Rd, Toms River, NJ 08755Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%1/8/2030465.1 465.1 497.3 0.13 %
Marnon Enterprise LLC(#,^)6713 Biscay Hbr, San Antonio, TX 78249Administrative and Support ServicesTerm LoanPrime plus 2.75%4/5/20293.6 3.6 3.6 — %
Bose and Avinder, Inc.and Carmel and Preet Inc(#,^)28201 Date Palm Dr, Cathedral City, CA 92234Gasoline Stations Term LoanPrime plus 2.75%4/5/202946.5 46.5 49.4 0.01 %
Ren Investment Group Inc dba True Positon Manufacturing(#,^)40 Sandra Dr, South Windsor, CT 06074Machinery ManufacturingTerm LoanPrime plus 2.75%3/29/2029597.9 597.9 598.0 0.15 %
J Brothers Enterprises, LLC(#,^)1101 NW 12TH Ave, Ava, MO 65608Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/29/2044607.1 607.1 685.4 0.17 %
EJ & James Transport LLC(#,^)3100 Drewsky Ln Unit 108, Fort Mills, SC 29715Truck TransportationTerm LoanPrime plus 2.75%3/29/20297.1 7.1 7.2 — %
NuBe Business Group LLC(#,^)2140 44th St SE, Ste 201, Grand Rapids, MI 49508Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/204438.6 38.6 43.6 0.01 %
Bayco Enterprises, Inc(#,^)128 Cowesett Ave, West Warwick, RI 02893Gasoline Stations Term LoanPrime plus 2.75%3/29/2044187.1 187.1 211.3 0.05 %
Raven's Place LLC(#,^)13031 S Western Ave, Blue Island, IL 60406Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/2044672.4 672.4 759.2 0.19 %
Turtle Shirts, LLC(#,^)10241 Metro Pkwy# 108, Ft Myers, FL 33966Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/29/202942.6 42.6 42.6 0.01 %
Complete Care IT LLC(#,^)4801 South University Dr Ste 125, Davie, FL 33328Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/202939.2 39.2 38.9 0.01 %
Outtasight Careers, LLC dba Gecko Hospitality(#,^)109 W Fern St, Tampa, FL 33604Administrative and Support ServicesTerm LoanPrime plus 2.75%3/29/202925.3 25.3 25.1 0.01 %
Royalty Freight Inc.(#,^)3728 W McKinley Ave, Fresno, CA 93772Truck TransportationTerm LoanPrime plus 2.75%3/29/2029324.4 324.4 332.3 0.08 %
101
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Bhatti LLC dba Auntie Ann's & Bhatti LLC 1(#,^)7219 Silver Mist Ave, North Chesterfield, VA 23237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/2029123.2 123.2 122.1 0.03 %
Reliable Power Group Inc. dba Batteries + bulbs Pensacola(#,^)6895 N. 9th Ave Ste B, Pensacola, FL 32504Repair and MaintenanceTerm LoanPrime plus 2.75%3/29/202974.7 74.7 74.2 0.02 %
Bright Freight Solution, LLC(#,^)1112 N Main St, Manteca, CA 95336Truck TransportationTerm LoanPrime plus 2.75%3/29/2029710.2 710.2 725.8 0.18 %
Key HR Associates, Inc dba Parents Choice for Kids(#,^)3150 West Park Dr, Burnsville, MN 55306Social AssistanceTerm LoanPrime plus 2.75%3/29/2044443.8 443.8 501.1 0.13 %
Hamsons Inc.(#,^)4900 Hopyard Rd, Pleasanton, CA 94588Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%3/29/2029140.1 140.1 138.9 0.04 %
Pizzaplex L3C(#,^)4458 West Vernor Hwy, Detroit, MI 48209Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/202933.4 33.4 33.5 0.01 %
Stillwater Ventures, LLC(#,^)8272 W. Sunset Blvd, Los Angeles, CA 90048Nonstore Retailers Term LoanPrime plus 2.75%3/29/2029286.7 286.7 297.0 0.08 %
GS Bath Inc(#,^)5335 E. Kaviland Ave, Fresno, CA 93725Truck TransportationTerm LoanPrime plus 2.75%3/28/2029238.9 238.9 243.3 0.06 %
Custom Vinyl Products LLC(#,^)260 Enterprise Dr, Newport News, VA 23603Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/28/2044953.4 953.4 1,076.4 0.27 %
Skaggs RV Outlet ,LLC(#,^)301 Commerce Dr, Elizabethtown, KY 42701Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/28/2029186.2 186.2 197.4 0.05 %
J.C. Pallet Company, Inc.(#,^)18427 New Kent Hwy, Barhamsville, VA 23011Wood Product ManufacturingTerm LoanPrime plus 2.75%3/28/202960.7 60.7 64.4 0.02 %
Cocomo Joe's LLC(#,^)3949 New Rd, Youngstown, OH 44515Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/20292.6 2.6 2.6 — %
PA Sobol Partners LLC dba Sobal(#,^)206 Rohrerstown Rd, Lancaster, PA 17603Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/28/202938.9 38.9 39.2 0.01 %
DC AG, LLC dba Big B Sales(#,^)674 LA- 8, Sicily Island, LA 71368Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/27/2044553.5 553.5 624.9 0.16 %
Danielle Vance LPC, LLC dba Danielle Vance MA, LPC(#,^)1127 Auraria Pkwy, Ste 201, Denver, CO 80204Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/27/20294.3 4.3 4.2 — %
Cinco Fit LLC dba Cinco Fit(#,^)23010 Highland Knolls Blvd, Ste G, Katy, TX 77494Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/27/2029123.3 123.3 122.0 0.03 %
Ocean Trans LLC and Dehal Trucking LLC(#,^)1415 W Anderson St, Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%3/27/202957.7 57.7 61.2 0.02 %
Heritage Hills Athletics 1, LLC and Heritage Hills Athletics 1, LLC(#,^)2880 Carol Rd, East York, PA 17402Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/26/2044990.2 990.2 1,117.9 0.28 %
District 5 Boutique LLC(#,^)317 N Farview Ave, Paramus, NJ 07652Nonstore Retailers Term LoanPrime plus 2.75%3/26/202993.4 93.4 92.4 0.02 %
J & C May Properties, LLC(#,^)315 Sylamore Ave, Mountain View, AR 72560Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/22/20441,081.8 1,081.8 1,214.3 0.31 %
Virginia Industrial Plastics, Inc.(#,^)2454 North East Side Hwy, Elkton, VA 22827Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/22/2029220.4 220.4 233.6 0.06 %
102
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Virginia Industrial Plastics, Inc.(#,^)2454 N East Side Hwy,, Elkton, VA 22827Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/22/2044290.0 290.0 327.4 0.08 %
Gary Krause dba Gary Krause Landscaping & Design(#,^)489 Hamilton Rd, Jacksonville, OR 97530Administrative and Support ServicesTerm LoanPrime plus 2.75%3/22/20294.5 4.5 4.6 — %
Dependable Lawn Care, Inc.(#,^)2320 138TH ST, Blue Island, IL 60406Administrative and Support ServicesTerm LoanPrime plus 2.75%3/21/2029413.4 413.4 419.0 0.11 %
Dependable Lawn Care, Inc.(#,^)2320 138th St, Blue Island, IL 60406Administrative and Support ServicesTerm LoanPrime plus 2.75%3/21/2044185.0 185.0 208.9 0.05 %
American Trails Transport, LLC(#,^)8704 Grand Ave, Billings, MT 59106Truck TransportationTerm LoanPrime plus 2.75%3/21/202940.9 40.9 41.6 0.01 %
Sound Manufacturing Inc(#,^)1 Williams Ln, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/20/202937.3 37.3 36.9 0.01 %
Michigan Neurosurgical Institute, P.C., Optical Spine,LLC, MNI Great(#,^)9400 South Saginaw St, Unit 1, Grand Blanc, MI 48439Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/20/2044273.5 273.5 308.8 0.08 %
Michigan Neurosurgical Institute P.C.(#,^)9400 South Saginaw St, Unit 1, Grand Blanc, MI 48439Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/20/2029138.6 138.6 137.4 0.03 %
Mega Trucking LLC and Olyimpian Industries LLC(#,^)5979 NW 151st St, Miami Lakes, FL 33014Truck TransportationTerm LoanPrime plus 2.75%3/20/2029298.8 298.8 307.0 0.08 %
Marvellous Print & Ship LLC(#,^)605 W Main St, Oxford, KS 67119Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/19/20292.5 2.5 2.5 — %
Vanchoc Transport Inc(#,^)137 3rd St, Brooklyn, NY 11231Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/15/202965.1 65.1 64.4 0.02 %
B & W Towing LLC(#,^)701 Addison Rd, Painted Post, NY 14870Support Activities for TransportationTerm LoanPrime plus 2.75%3/15/202943.0 43.0 45.5 0.01 %
Panetcarne Inc.dba Jersey Mike's Subs Greenfield(#,^)23077 Greenfield Rd, Southfield, MI 48075Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/202970.1 70.1 70.2 0.02 %
Screening Services Group, LLC(#,^)8670 Wilshire Blvd, Beverly Hills, CA 90211Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/14/2029222.5 222.5 222.7 0.06 %
Mill Creek Early Childhood Program LLC(#,^)510 South Batavia Ave, Batavia, IL 60510Social AssistanceTerm LoanPrime plus 2.75%8/11/202947.7 47.7 47.4 0.01 %
Alpine Remediation, Inc, T & M Holdings, LLC(#,^)14252 W 44th Ave Unit F, Golden, CO 80403Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/8/202965.5 65.5 67.0 0.02 %
Precise Air Systems, Inc(#,^)5467 W San Fernando Rd, Los Angeles, CA 90039Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/8/2029208.4 208.4 207.3 0.05 %
Wildflour Bakery & Cafe LLC(#,^)5137 Clareton Dr Ste 100,110 & 120, Agoura Hills, CA 91301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/8/202965.3 65.3 64.6 0.02 %
D & S Village Hardware LLC dba Cedar Mountain Country Store(#,^)76 Ranch Rd a/k/a 3695 Movie Ranch Rd, Duck Creek, UT 84762Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/8/2044189.8 189.8 214.3 0.05 %
Seeds of Knowledge Creative Learning Center LLC(#,^)15101 West McNichols Rd, Detroit, MI 48235Social AssistanceTerm LoanPrime plus 2.75%3/7/204421.2 21.2 23.9 0.01 %
103
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Doble Rentals, L.L.C , Doble Rentals 2, LLC, Doble Rentals 3, LLC(#,^)487 Elizabeth Lake Rd, Waterford, MI 48328Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/4/2029117.5 117.5 116.2 0.03 %
Monkey Bones LLC(#,^)3361 Dayton Xenia Rd, Beavercreek, OH 45432Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/204417.7 17.7 20.0 0.01 %
Woodard Electric Services, Inc.(#,^)1600 Carter Cove Rd, Hayesville, NC 28904Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/202916.0 16.0 15.9 — %
Shah Medical Center SC & Heeena Shyamani(#,^)484 Summit St, Elgin, IL 60120HospitalsTerm LoanPrime plus 2.75%2/28/2044213.0 213.0 239.8 0.06 %
Wooter Apparel, Inc(#,^)727 Page Ave., Staten Island, NY 10307Nonstore Retailers Term LoanPrime plus 2.75%2/28/202937.0 37.0 36.9 0.01 %
NY Scoops LLC dba Cool Suppliers and Breakneck Road LLC(#,^)20 Silver Fox Ln, Sussex, NJ 07461Food ManufacturingTerm LoanPrime plus 2.75%2/28/20293.7 3.7 3.9 — %
Matrix Z LLC(#)800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 6.5%2/27/20299.7 9.7 10.6 — %
Harbor Management Company Inc dba Jamba Juice(#,^)5501 Josh Birmingham Pkwy Concourse A, Charlotte, NC 28208Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/22/2029111.1 111.1 110.5 0.03 %
Mia Restoration Inc dba PuroClean and Puroclean of Morristown NJ(#,^)3633 B Hill Rd, Parsippany, NJ 07054Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/21/202930.5 30.5 30.6 0.01 %
Rob Barletta's Hockey School, Inc(#,^)2130 Providence Hwy, Walpole, MA 02081Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%2/19/202980.6 80.6 85.4 0.02 %
Bowl 360 Inc.(#,^)98-18 Rockaway Blvd, Far Rockaway, NY 11417Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/2029103.3 103.3 102.4 0.03 %
Bowl 360 Inc.(#,^)98-18 Rockaway Blvd, Ozone Park, NY 11417Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/2029120.4 120.4 123.3 0.03 %
Outler Transportation Services,LLC(#,^)3775 Carriage Downs CT SW, Snellville, GA 30039Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/19/202935.3 35.3 35.2 0.01 %
Integris Roofing, Inc(#,^)1174 Yellostone Dr, Lake Arrowhead, CA 92532Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/15/202916.7 16.7 16.5 — %
M & M Burgers Inc dba Checkers(#,^)530 Willis Ave, Bronx, NY 10455Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/202986.7 86.7 86.8 0.02 %
Par-Man, Inc. dba Rockstar Tattoo(#,^)450 Fremont St #109 and 113, Las Vegas, NV 89101Health and Personal Care Stores Term LoanPrime plus 2.75%2/14/202946.3 46.3 46.0 0.01 %
KHSE Parks, Inc.(#,^)600 West Charles St, Matthews, NC 28105Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/14/202959.2 59.2 58.6 0.01 %
Tony Herring & Associates, Inc(#,^)211 West Camellia Dr, Slidell, LA 70458Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%2/14/202911.1 11.1 11.8 — %
Gateway Veterinary Services, P.C. dba Liberty Animal Clinic(#,^)9212 Liberty Ave, Ozone Park, NY 11417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/14/2044130.1 130.1 146.8 0.04 %
Precedence Enterprises LLC dba Spartan Junk Removal(#,^)8101 Sandy Spring Rd Ste 250N, Laurel, MD 20707Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/8/202910.0 10.0 10.2 — %
Shepherd Fitness, LLC dba Workout Anytime Ooltewah(#,^)9408 Apison Pike, Ste 11, Ooltewah, TN 37363Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/8/2029126.1 126.1 128.2 0.03 %
104
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Pamletics LLC dba F45(#,^)22015 IH 10 West, San Antonio, TX 78249Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/8/20292.8 2.8 2.9 — %
EJGR Corp dba Brite Energy Solutions(#,^)87 Main St Upper Level, Hastings-on-Hudson, NY 10706Utilities Term LoanPrime plus 2.75%2/8/202934.9 34.9 34.6 0.01 %
Creative Counseling Nashville PLLC(#,^)4119 Gallatin Pike, Nashville, TN 37216Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/7/20290.6 0.6 0.6 — %
Hernando Beach Motel Inc.,The Purple Cow House of Pancake Inc(#,^)4291 Shoal Line Blvd, Hernando Beach, FL 34607AccommodationTerm LoanPrime plus 2.75%2/1/202911.1 11.1 11.8 — %
Jesus and Son's Landscape Contractors, LLC(#,^)4371 Durham Court, Denver, CO 80239Administrative and Support ServicesTerm LoanPrime plus 2.75%2/1/202942.6 42.6 42.7 0.01 %
Employer Resource Services LLC dba Data Pool(#,^)500 Research Rd, Richmond, VA 23236Administrative and Support ServicesTerm LoanPrime plus 2.75%1/31/202926.4 26.4 26.1 0.01 %
MYC Motors Inc(#,^)3808 Vegas Dr, Las Vegas, NV 89108Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%1/30/204470.5 70.5 79.6 0.02 %
FNF LLC dba AK Wine Grotto(#,^)11109 Old Seward Hwy, Anchorage, AK 99515Food and Beverage Stores Term LoanPrime plus 2.75%1/22/2029181.7 181.7 179.7 0.05 %
IGWT Coffee, LLC dba PJ's Coffee of New Orleans(#,^)414 Union St, Nashville, TN 37219Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/18/202960.6 60.6 59.9 0.02 %
MMC Investors, LLC dba Clean Juice(#,^)2879 W 95th St Ste 195, Naperville, IL 60564Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/18/202965.7 65.7 65.7 0.02 %
Hilco Athletics & Graphics Inc(#,^)55 Green Hill St, West Warwick, RI 02816Apparel ManufacturingTerm LoanPrime plus 2.75%1/16/204465.0 65.0 73.3 0.02 %
Fluid Connections LLC dba BurgerIM(#,^)174 El Cerrito Plaza, El Cerrito, CA 94530Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/11/202945.9 45.9 46.8 0.01 %
CMLCLEARWATERBEACH.LLC dba Cousins Maine Lobster(#,^)309 Coronado Dr, Clearwater Beach, FL 33767Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/11/202968.3 68.3 68.2 0.02 %
HSR Tacos LLC dba California Tortilla(#,^)11694 Sudley Manor Dr, Manassas, VA 20109Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/11/202939.9 39.9 39.5 0.01 %
Rashed and Shabila LLC(#,^)14865 Hwy 92, Woodstock, GA 30188Gasoline Stations Term LoanPrime plus 2.75%1/4/202916.5 16.5 16.9 — %
The Chop House Inc.(#,^)191 Old Tower Hill Rd., South Kingstown, RI 02879Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2043523.8 523.8 591.4 0.15 %
Superior Concepts Acquisition Corp(#,^)1710 Tiles Court, Grand Haven, MI 49417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/28/2043497.4 497.4 561.6 0.14 %
American Rewinding of NC Inc dba MTS(#,^)1825 N Rocky River Rd, Monroe, NC 28110Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/28/2028352.3 352.3 368.0 0.09 %
Omega Funeral and Cremation Services,LLC(#,^)9503 Kenwood Rd, Cincinnati, OH 45242Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/28/2043320.5 320.5 361.8 0.09 %
Nix and Nix Funeral Home North Inc,(#,^)1621 W. Dauphin St, Philadelphia, PA 08065Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/28/2043547.6 547.6 618.2 0.16 %
Superior Concepts Acquisition Corp(#,^)1710 Tiles Ct, Grand Haven, MI 49417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/28/202893.8 93.8 98.0 0.02 %
105
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Galt Insurance Group of Bonita Springs, LLC & Bonita Safety Institute(#,^)10911 Bonita Beach Rd SE Unit 104 A & 104B, Bonita Springs, FL 34135Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/28/204317.6 17.6 19.9 0.01 %
Fave Realty Inc.(#,^)74 Larkfield Rd, East Northport, NY 11731Real EstateTerm LoanPrime plus 2.75%12/27/2043116.0 116.0 130.9 0.03 %
Medworxs Inc.(#,^)6857 Timbers Dr, Evergreen, CO 80439Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/27/20287.6 7.6 7.9 — %
East Breeze LLC dba Historic Springdale Pub and Eatery(#,^)32302 East Historic Columbia River Hwy, Corbett, OR 97019Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/27/2043120.4 120.4 136.0 0.03 %
Green Valley Landscape Management Inc. dba Apopka Mower and Equipment(#,^)2975 W Orange Blossom Trail, Apopka, FL 32712Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2043435.8 435.8 492.0 0.12 %
Reservations Unlimited LLC(#,^)312 W Main St, Red River, NM 87558Real EstateTerm LoanPrime plus 2.75%12/26/204384.7 84.7 95.7 0.02 %
BD Branson Victorian LLC dba Branson Victorian Inn(#,^)450 South Hwy 165, Branson, MO 65616AccommodationTerm LoanPrime plus 2.75%12/24/2043467.4 467.4 527.7 0.13 %
Timios Enterprises Corp dba Palm Court(#,^)1912 N Arlington Heights Rd., Arlington Heights, IL 60004Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/24/2043683.7 683.7 771.9 0.20 %
Fifth Wheel Truck Stop 001, Inc.(#,^)3767 South Golden State Blvd, Fresno, CA 93725Gasoline Stations Term LoanPrime plus 2.75%12/21/202874.9 74.9 77.2 0.02 %
Royalty Freight Inc(#,^)3728 W McKinley Ave, Fresno, CA 93722Truck TransportationTerm LoanPrime plus 2.75%12/21/202871.6 71.6 73.7 0.02 %
The Law Office of Jared E. Shapiro, P.A(#,^)7777 Glades Rd, Ste 100, Boca Raton, FL 33434Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/20288.2 8.2 8.4 — %
Burgess and Dudley, Incorporated(#,^)24462 NW 9th Place, Newberry, FL 32669Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/21/2028172.7 172.7 179.9 0.05 %
Diamond Estates LLC(#,^)110 Court St Ste 1, Cromwell, CT 06416Construction of BuildingsTerm LoanPrime plus 2.75%12/21/202854.5 54.5 56.1 0.01 %
Sesolinc GRP, Inc.(#,^)806 Randy Lowery Rd, Statesboro, GA 30461Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/21/2028272.8 272.8 286.3 0.07 %
D.A.F.S Transport, LLC(#,^)207 S. Teresa St, Monahans, TX 79756Truck TransportationTerm LoanPrime plus 2.75%12/21/2028491.9 491.9 523.1 0.13 %
Precision Bytes LLC dba Tower Connect(#,^)607 West Magnolia Ave, Fort Worth, TX 76104Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/202894.4 94.4 97.3 0.02 %
Baseline Health, LLC & Baseline Health Management, LLC(#,^)1101 Stewart Ave Ste 104, Garden City, NY 11530Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/202886.4 86.4 89.5 0.02 %
Accel Compression Inc.,Accel Workover Services Inc dba Mica Tool(#,^)4500 S Country Rd, Odessa, TX 79768Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/21/2044164.1 164.1 185.2 0.05 %
C&D Trucking & Equipment Service, Inc.(#,^)4015 Jennings Rd, Cleveland, OH 44109Repair and MaintenanceTerm LoanPrime plus 2.75%12/21/2043109.9 109.9 124.1 0.03 %
Alaska Motor Home Inc(#,^)6633 Brayton Dr, Anchorage, AK 99507Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2028218.5 218.5 229.4 0.06 %
106
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Local Liberty Inc dba The Wardsboro Country Store(#,^)23 Main St, Wardsboro, VT 05355Food and Beverage Stores Term LoanPrime plus 2.75%12/20/2043145.8 145.8 164.6 0.04 %
Yellow Fin Marine Services LLC, K Marine XI, LLC K Marine VIII, LLC(#,^)2043 Coteau Rd, Houma, LA 70364Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2028279.7 279.7 298.6 0.08 %
Flashii App, Inc.(#,^)3031 Tisch Way, 1st Floor, San Jose, CA 95128Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202845.5 45.5 48.5 0.01 %
Healthy and Fresco LLC(#,^)1671 Belle Isle Ave Ste 110- Office C, Mount Pleasant, SC 29464Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/20/202933.7 33.7 35.0 0.01 %
Roots N Shoots, LLC & Yardplus LLC(#,^)86 Boston Rd, Chelmsford, MA 01824Administrative and Support ServicesTerm LoanPrime plus 2.75%12/20/202839.2 39.2 40.6 0.01 %
CK Green Partners, LLC dba Reis and Irvy"s Columbus(#,^)5898 Chandler Court STE B, Westerville, OH 43082Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/20/2029139.7 139.7 147.3 0.04 %
Hotel Compete, LLC(#,^)223 W Jackson Blvd, Chicago, IL 60606Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202845.4 45.4 46.8 0.01 %
Accent Comfort Services, LLC(#,^)5035 W. W.T. Harris Blvd Ste C, Mecklenburg, NC 28269Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/19/202850.0 50.0 51.6 0.01 %
Sheldon T Banks and Sheldon T Banks LLC dba Serenity Funeral chapel ll(#,^)G-2340 West Carpenter Rd, Flint, MI 48505Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/19/2044400.2 400.2 451.8 0.11 %
JejoJesi Corp dba Dukunoo Jamaican Kitchen, Dunkunoo(#,^)316 NW 24th St, Miami, FL 33180Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/19/202946.0 46.0 48.5 0.01 %
The Cromer Company(#,^)9800 NW 78th Ave, Hialeah Gardens, FL 33016Miscellaneous Store Retailers Term LoanPrime plus 2.75%12/19/2028396.6 396.6 408.9 0.10 %
Alpha Omega Trucking LLC(#,^)14432-14452 Stateline Rd, Brookings, OR 97415Truck TransportationTerm LoanPrime plus 2.75%12/14/202851.0 51.0 54.4 0.01 %
Cordoba Foods LLC, Multi Logistics Network Inc, Karina Mena(#,^)4477 E 11th Ave, Hialeah, FL 33013Food ManufacturingTerm LoanPrime plus 2.75%12/14/2028231.0 231.0 240.8 0.06 %
Alpha Landscape Contractors, Inc(#,^)2823 Fllintstone Rd, Millers, MD 21102Administrative and Support ServicesTerm LoanPrime plus 2.75%1/14/2029235.9 235.9 246.9 0.06 %
Peanut Butter & Co., Inc.(#,^)119 West 57th St, Ste 300, New York, NY 10019Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/14/2028181.9 181.9 187.3 0.05 %
Mediterranean Tastes Inc dba Mediterranean Tastes Since 1974(#,^)196-15 Northern Blvd, Flushing, NY 11318Food and Beverage Stores Term LoanPrime plus 2.75%12/14/202811.5 11.5 11.8 — %
Ventures TBD LLC dba The Bottle Tree(#,^)102 Davis St, Belmont, NC 28012Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/204392.7 92.7 104.7 0.03 %
Healthy Human, LLC(#,^)1007 Johnnie Dodds Blvd., Ste 123, Mount Pleasant, SC 29464Nonstore Retailers Term LoanPrime plus 2.75%12/14/202890.9 90.9 93.6 0.02 %
Fitness Orlando LLC & Fitness Orlando Oviedo, LLC(#,^)160 Tuskawilla Rd Ste 1214, Winter Springs, FL 32708Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/14/2028202.1 202.1 210.4 0.05 %
107
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Sound Contracting LLC(#,^)148 Holmgren Place, Girdwood, AK 99587Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/14/2043185.3 185.3 209.2 0.05 %
Sound Contracting LLC(#,^)148 Holmgren Place, Girdwood, AK 99587Construction of BuildingsTerm LoanPrime plus 2.75%12/14/202831.3 31.3 32.8 0.01 %
L&M Services, LLC(#,^)560 Main St, Milford, UT 84751Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/14/2043187.8 187.8 212.0 0.05 %
Tapia Auto Care, LLC dba Shoreline Quick Lube and Car Wash(#,^)2 Center Rd,, Old Saybrook, CT 06475Repair and MaintenanceTerm LoanPrime plus 2.75%12/13/2043917.4 917.4 1,035.7 0.26 %
OC Helicopters LLC(#,^)19711 Campus Dr Ste 260, Santa Ana, CA 92707Air TransportationTerm LoanPrime plus 2.75%12/13/202864.0 64.0 68.4 0.02 %
The Miller Center for Esthetic Excellence,(#,^)22 Old Short Hills Rd,, Livingston, NJ 07039Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/13/2043378.2 378.2 427.0 0.11 %
Plan B Burger LLC(#,^)484 Farmington Ave, Hartford, CT 06105Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/13/2029768.7 768.7 803.3 0.20 %
Burton Realty Co., Inc dba Anchor Realty, Northeast(#,^)2200 Michener St, Ste 12, Philadelphia, PA 19115Real EstateTerm LoanPrime plus 2.75%12/13/2028143.4 143.4 147.7 0.04 %
Mateo Enterprise Inc dba El Milagro Market(#,^)575 Panama Ln, Bakersfield, CA 93307Food and Beverage Stores Term LoanPrime plus 2.75%12/12/2043112.7 112.7 127.2 0.03 %
Ashwood Food Services, Incorporated dba Jake Rooney's(#,^)119 Brooks Rd, Harwich Port, MA 02646Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/12/202949.3 49.3 51.5 0.01 %
Mateo Enterprise Inc dba El Milagro Market(#,^)575 Panama Ln, Bakerfield, CA 93307Food and Beverage Stores Term LoanPrime plus 2.75%1/12/202943.8 43.8 45.2 0.01 %
Behind The Scenes Chicago, LLC dba Paramount Events(#,^)2744 W. Roscoe St, Chicago, IL 60618Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/12/2029116.3 116.3 124.4 0.03 %
Ashwood Food Services Inc. dba Jake Rooney's(#,^)119 Brooks Rd, Harwich Port, MA 02646Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/12/2043201.9 201.9 228.0 0.06 %
Airstrike Firefighters LLC(#,^)18115 62nd Ave NE, Kenmore, WA 98028Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%12/12/2028964.6 964.6 1,014.1 0.26 %
Duck's Nuts Inc dba Pet Place Market(#,^)212 Bendigo Blvd. N, North Bend, WA 98045Miscellaneous Store Retailers Term LoanPrime plus 2.75%1/11/202931.6 31.6 33.2 0.01 %
TFE Resources ,LTD(#,^)11 Easter Court Ste G, Owings Mills, MD 21117Utilities Term LoanPrime plus 2.75%1/11/2029424.3 424.3 441.8 0.11 %
Hilltop Wine Shop, Inc dba Hiltop Wine Shop(#,^)7505 Highland Rd, White Lake, MI 48383Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/11/2043120.2 120.2 135.7 0.03 %
EMES Supply, LLC(#,^)35622 Vine St, EastLake, OH 44095General Merchandise Stores Term LoanPrime plus 2.75%1/11/202991.3 91.3 94.8 0.02 %
White Wilson & Associates LLC(#,^)16238 Louis Ave., South Holland, IL 60473Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/11/204339.9 39.9 45.1 0.01 %
Team Henry, LLC dba Kelly Automotive of Deltona(#,^)1290 Doyle Rd, Deltona, FL 32725Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/2043367.4 367.4 414.8 0.11 %
ZLM Services LLC(#,^)9422 Marine City Hwy, Casco, MI 48064Administrative and Support ServicesTerm LoanPrime plus 2.75%1/10/202929.2 29.2 30.2 0.01 %
Food Service Industry Consultants Inc.(#,^)1465 Kelly Johnson Blvd, Colorado Springs, CO 80920Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/7/202952.2 52.2 54.0 0.01 %
108
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Metro R Services Inc. and Metal & Roof Supplies Inc.(#,^)20 Universal Place, Carlstadt, NJ 07072Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/6/2029151.5 151.5 162.1 0.04 %
CET Inc(#,^)4709 N El Capitan Ave. Ste 205, Fresno, CA 93722Truck TransportationTerm LoanPrime plus 2.75%1/6/2029839.5 839.5 876.2 0.22 %
Unique Home Solutions Inc. and Unique Home Solutions of Ohio(#,^)5550 Progress Rd, Indianapolis, IN 46241Construction of BuildingsTerm LoanPrime plus 2.75%1/5/2029182.8 182.8 195.6 0.05 %
Access Staffing, LLC(#,^)360 Lexington Ave 8th Floor, New York, NY 10017Administrative and Support ServicesTerm LoanPrime plus 2.75%1/4/2029141.8 141.8 146.5 0.04 %
The Altitude Group LLC(#,^)949 A Clint Moore Rd, Boca Raton, FL 33487Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/4/2029100.0 100.0 103.4 0.03 %
Swantown Inn and Spa, LLC(#,^)1431 11th Ave SE, Olympia, WA 98501AccommodationTerm LoanPrime plus 2.75%1/3/20299.9 9.9 10.5 — %
York Concrete Corp(#,^)1 Plumb CT., Huntington Station, NY 11746Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/3/2043181.6 181.6 205.0 0.05 %
Hernando Beach Motel LLC,The Purple Cow House o APancake AInc.(#,^)4291 Shoal Line Blvd, Hernando Beach, FL 34607AccommodationTerm LoanPrime plus 2.75%11/30/2043211.0 211.0 238.2 0.06 %
Cabrera's Auto Services LLC(#,^)2206 N Central Ave, Chicago, IL 60639Repair and MaintenanceTerm LoanPrime plus 2.75%11/30/204376.1 76.1 85.9 0.02 %
Luxury Furniture, Inc.dba Venicasa & Luxe Home Interiors(#,^)13762 W State Rd 84, Davie, FL 33325Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/30/202890.4 90.4 96.4 0.02 %
Microplex Co, Third Market LLC(#,^)244 Spokane Ave, Whitefish, MT 59937Food and Beverage Stores Term LoanPrime plus 2.75%12/30/2028119.3 119.3 123.2 0.03 %
Water Station Holdings LLC(#,^)1104 N Keystone Ave, Indianapolis, IN 46201Nonstore Retailers Term LoanPrime plus 2.75%12/30/2028477.3 477.3 504.1 0.13 %
Littleton Food and Spirits LLC.(#,^)235 North Mosby Ave, Littleton, NC 27850Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/2044419.1 419.1 473.1 0.12 %
JJB Production LLC(#,^)458 N 7th St, Newark, NJ 07107Administrative and Support ServicesTerm LoanPrime plus 2.75%12/29/20285.3 5.3 5.5 — %
Albert M. Quashie, DDS, PC(#,^)3331 Toledo Terrace Ste 308, Hyattsville, MD 20782Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/29/204346.9 46.9 53.0 0.01 %
Extreme Granite Corp(#,^)251 NW 1st St, Deerfield Beach, FL 33441Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/28/2043175.9 175.9 198.6 0.05 %
Level Up Gaming, Inc(#,^)1132 Creighton Rd, Pensacola, FL 32504Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%11/28/204384.4 84.4 95.3 0.02 %
True Love Christian Academy LLC(#,^)466 E Raines Rd, Memphis, TN 38109Social AssistanceTerm LoanPrime plus 2.75%12/28/204339.4 39.4 44.5 0.01 %
Sky Wonder Pyrotechnics, LLC dba Sky Wonder Fire and Safety Gear Up(#,^)3626 CR 203, Liverpool, TX 77577Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/28/2043419.9 419.9 474.0 0.12 %
BEK Holdings LLC, Veseli Fine Art Galleries, LLC, Trusted.com LLC, Exe(#,^)12930 Worldgate Dr, Herndon, VA 20170Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2028927.4 927.4 990.2 0.25 %
Thames Aquatic Club, LLC(#,^)14 Iron St, Ledyard, CT 06339Educational ServicesTerm LoanPrime plus 2.75%10/21/202934.2 34.2 36.9 0.01 %
109
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

M.A.W. Enterprises LLC dbaY-Not Pizza(#,^)45 E Main St, New Palestine, IN 46163Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/21/202816.3 16.3 17.0 — %
On Call Electrical of Georgia LLC(#,^)2120 Plaster Bridge Rd NE, Atlanta, GA 30324Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/20/2043616.3 616.3 695.8 0.18 %
Commonwealth Warehouse Inc(#,^)11013 Kenwood Rd., Cincinnati, OH 45242Warehousing and StorageTerm LoanPrime plus 2.75%12/20/2028306.0 306.0 321.4 0.08 %
K & A Automotive Inc(#,^)2070 Nooseneck Hill Rd, Coventry, RI 02816Gasoline Stations Term LoanPrime plus 2.75%11/19/2043114.6 114.6 129.3 0.03 %
High Desert Transport, Inc.(#,^)2973 Via Meridiana, Henderson, NV 89012Truck TransportationTerm LoanPrime plus 2.75%12/19/202854.0 54.0 56.2 0.01 %
Cali Fit Meals(#,^)3450 East Orangethrope Ave, Anaheim, CA 92806Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/202845.2 45.2 46.6 0.01 %
Cocomo Joe's LLC(#,^)3949 New Rd, Youngstown, OH 44515Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/20280.5 0.5 0.5 — %
Saunders Management LLC dba Northern Light Espresso Bar and Cafe(#,^)536 Spruce St, Scranton, PA 18503Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/16/202829.2 29.2 31.2 0.01 %
Schafer Fisheries Inc.(#,^)21985 Waller Rd, Fulton, IL 61252Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/14/202840.5 40.5 43.3 0.01 %
US Dedicated LLC(#,^)13410 SE 26th Circle, Vancouver, WA 98683Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/2028340.0 340.0 351.7 0.09 %
Salon Femi LLC(#,^)1107 Broad St, Bloomfield, NJ 07003Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/9/20285.4 5.4 5.7 — %
McNeill Stokes(#,^)5372 Whitehall Pl SE, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/8/20284.9 4.9 5.0 — %
Vancole Investments, Inc. dba Smoothie King #913(#,^)876 Virginia Ave, Hapeville, GA 30354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/7/2044392.7 392.7 443.4 0.11 %
Peter Thomas Roth Labs LLC and June Jacobs Labs, LLC(#,^)400 Park Ave, Floor 14, New York, NY 10022Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/1/2028235.0 235.0 242.1 0.06 %
Modutech Marine Inc(#,^)2218 Marine View Dr, Tacoma, WA 98422Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/1/2028271.2 271.2 289.6 0.07 %
Abington Caregivers, LLC(#,^)7804 Montgomery Ave Unit 3-6, Elkins Park, PA 19027Social AssistanceTerm LoanPrime plus 2.75%11/30/2043118.1 118.1 133.4 0.03 %
Steele Security, LLC dba Signal 88 Security of San Antonio(#,^)11230 West Ave, Ste 2210, San Antonio, TX 78213Administrative and Support ServicesTerm LoanPrime plus 2.75%10/31/202878.0 78.0 80.7 0.02 %
C.A.T.I. Armor, LLC(#,^)435 Packard Hwy, Charlotte, MI 48813Apparel ManufacturingTerm LoanPrime plus 2.75%10/30/2043197.1 197.1 222.6 0.06 %
UK, LLC dba Pita Pit(#,^)20038 West Valley HWY, Kent, WA 98032Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/202945.3 45.3 47.3 0.01 %
Organic Juice Bar Wexford LLC dba The OJB "The Organic Juice Bar"(#,^) 1500 Village Run Rd, Wexford, PA 15090Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/202959.4 59.4 61.7 0.02 %
Ohio Gold & Pawn LLC, Our New Building LLC and Corey Fischer(#,^)3970 Everhard Rd, NW, Canton, OH 44709Miscellaneous Store Retailers Term LoanPrime plus 2.75%10/26/2028104.9 104.9 112.0 0.03 %
110
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

The Face Place, LLC dba Classic Aesthetics(#,^)4268 Cahaba Heights CT Ste 115, Vestavia, AL 35243Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/25/20287.2 7.2 7.4 — %
Bellas Sports Pub, Inc dba Brewmasters Tavern(#,^)1152 Main St, Coventry, RI 02816Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/24/204364.9 64.9 73.3 0.02 %
Shovels and Whiskey LLC(#,^)446 SE Washington St, Hillsboro, OR 97123Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%10/16/204371.7 71.7 81.0 0.02 %
Cater To You Agency, LLC, dba Cater To You(#,^)1319 Sherrick Rd SE, Canton, OH 44707Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/11/204321.0 21.0 23.8 0.01 %
MB Click It Photography, LLC(#,^)100 Manchester Ranch Place, Aynor, SC 29511Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/10/204335.9 35.9 40.5 0.01 %
Apps Inc and Market Share Inc.(#,^)80 Main St, Old Saybrook, CT 06475TelecommunicationsTerm LoanPrime plus 2.75%10/5/202869.9 69.9 72.0 0.02 %
Moore Care LLC(#,^)8550 United Plaza Blvd., Baton Rouge, LA 79809Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/4/202837.1 37.1 38.2 0.01 %
JAM Media Solutions LLC(#,^)11 Netherwood Terrace, East Orange, NJ 07017Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/28/2028768.2 768.2 796.8 0.20 %
A-1 Van Sevices, Inc.(#,^)154 Sandy Creek Rd, Verona, PA 15147Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/28/202875.1 75.1 79.6 0.02 %
SwabCo Inc.(#,^)2341 East Ellis St, Leveland, TX 79336Support Activities for MiningTerm LoanPrime plus 2.75%9/28/2043905.6 905.6 1,022.4 0.26 %
Throop Family Holdings, Inc(#,^)7130 Crater Lake, White City, OR 97603Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/28/2043600.6 600.6 678.1 0.17 %
Burd Brothers Inc.(#,^)4005 Borman Dr, Batavia, OH 45103Truck TransportationTerm LoanPrime plus 2.75%9/28/2028346.4 346.4 366.3 0.09 %
La Venezia Corporation dba La Venezia Ballroom & Robertos Lounge(#,^)4646 SE 11th Place, Cape Coral, FL 33904Food and Beverage Stores Term LoanPrime plus 2.75%9/28/2043309.3 309.3 349.2 0.09 %
Rami Technology USA, LLC(#,^)10400 NW 33rd St, Miami, FL 33172Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%9/28/2028127.1 127.1 131.3 0.03 %
Blackwater Diving, LLC(#,^)112 Forrest Rd, Morgan City, LA 70380Support Activities for MiningTerm LoanPrime plus 2.75%9/27/2028572.8 572.8 593.0 0.15 %
Blue Seven, LLC(#,^)11111 San Jose Blvd, Ste 70, Jacksonville, FL 32223Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/27/202942.4 42.4 44.3 0.01 %
LG Law Center, Inc(#,^)15452 Amar Rd, La Puente, CA 91744Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/202810.6 10.6 11.0 — %
Quality Electric & Data Inc.(#,^)85 Franklin RD Unit 9B, Dover, NJ 07801Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/2043121.1 121.1 136.7 0.03 %
TFR Transit Inc, The Free Ride Inc, South Florida Free Ride Inc.,Tag(#,^)777 South Flagler Dr Ste 800W, West Palm Beach, FL 33401Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/27/202888.1 88.1 92.3 0.02 %
Quality Electric & Data(#,^)85 Franklin Rd Unit 9B, Dover, NJ 07801Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/202870.1 70.1 73.9 0.02 %
Action Barricade Company, LLC and Barricade Holding LLC(#,^)208 South 67th Ave, Phoenix, AZ 85043Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/27/2028228.2 228.2 240.4 0.06 %
111
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Dentistry By Design, P.C(#,^)315 Walt Whitman Rd Ste 204-205, South Huntington, NY 11746Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/26/202810.6 10.6 10.9 — %
US Shipping Trans Inc, Esteem Trucking Inc(#,^)16102 Sweetwater Court, Lathrop, CA 95330Truck TransportationTerm LoanPrime plus 2.75%9/26/2028542.2 542.2 576.4 0.15 %
LTS School, Inc.(#,^)3731 NW 9th Ave, Deerfield Beach, FL 33064Educational ServicesTerm LoanPrime plus 2.75%9/26/204394.4 94.4 106.6 0.03 %
Above and Beyond Preschool LLC(#,^)672-678 Camellia Dr, Royal Palm Beach, FL 33411Social AssistanceTerm LoanPrime plus 2.75%9/26/2043515.9 515.9 582.4 0.15 %
Bhatti LLC, Bhatti 3 LLC, dba Auntie Annes(#,^)7219 Silver Mist Ave, North Chesterfield, VA 23237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/25/202888.0 88.0 91.3 0.02 %
Phillip Ramos Upholstery Inc.(#,^)3835 Elm St, Denver, CO 80207Repair and MaintenanceTerm LoanPrime plus 2.75%9/24/202810.9 10.9 11.2 — %
DC Lofty, LLC,(#,^)301 I St NW, Washington, DC 20001AccommodationTerm LoanPrime plus 2.75%9/21/202815.9 15.9 16.3 — %
Southern Services and Equipment, Inc(#,^)321 Bayou Rd, Saint Bernard, LA 70085Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/2028307.6 307.6 323.3 0.08 %
Southern Services and Equipment, Inc.(#,^)321 Bayou Rd, Saint Bernard, LA 70085Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/2043199.3 199.3 225.0 0.06 %
MillClem Corporation & Monticello Corporation(#,^)16660 Oak St, Dillwyn, VA 22936Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%9/21/2043308.8 308.8 348.6 0.09 %
The Garden Club, LLC(#,^)125 South DuBuque St, Iowa City, IA 52240Miscellaneous Store Retailers Term LoanPrime plus 2.75%9/21/20284.7 4.7 4.8 — %
Watearth Inc(#,^)445 South Figuerora Ste 3128, Los Angeles, CA 90071Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/19/202815.9 15.9 16.3 — %
Super Station Inc(#,^)8855 N Country Rd 25A, Pique, OH 45356Gasoline Stations Term LoanPrime plus 2.75%9/19/2043195.3 195.3 220.5 0.06 %
Dash Point Distributing LLC, Dash Point Logistics LLC and Sara Consal(#,^)35000 Pacific Hwy, Federal Way, WA 98003Truck TransportationTerm LoanPrime plus 2.75%9/19/2028398.7 398.7 409.7 0.10 %
C3 Capital, Inc(#,^)10010 N. Hampton Cove Ln, Indianapolis, IN 46236Nonstore Retailers Term LoanPrime plus 2.75%9/19/2028446.4 446.4 471.9 0.12 %
M&P RV LLC dba M&P RV(#,^)10 Century Ln, Dillsburg, PA 17019Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/19/204398.9 98.9 111.7 0.03 %
DB Talak LLC(#,^)2018 SE 6th Ave, Portland, OR 97214Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/18/2043147.2 147.2 166.2 0.04 %
E & G Enterprises LLC dba Comfort Keepers(#,^)220 Middle St, Franklin, VA 23851Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/18/20284.2 4.2 4.3 — %
Glendale Grill Inc, Roddy Cameron, Jr & John K Symasko(#,^)65 Glendale St, Easthampton, MA 01027Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/2043163.2 163.2 184.3 0.05 %
Pastel de Feira LLC dba Original Pastel De Feira(#,^)4244 Pine Ridge CT, Weston, FL 33331Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/20284.3 4.3 4.5 — %
Culmination Motorsports, Inc.(#,^)160 W 91st Ave, Unit B, Anchorage, AK 99515Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/2043521.8 521.8 589.1 0.15 %
112
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

L&M Equipment, Inc(#,^)Mile 2.5 Alaska Peninsula Hwy, Naknek, AK 99633Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/14/20431,165.7 1,165.7 1,316.1 0.33 %
QBS, LLC dba Sterling Optical Exton(#,^)211 W Lincoln Hwy, Exton, PA 19341Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/14/202857.3 57.3 59.0 0.01 %
J & C Garcia LLC(#,^)26 Broad St, Alexander City, AL 35010Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/14/202852.1 52.1 53.9 0.01 %
Innovim LLC(#,^)6401 Golden Triangle Dr Ste 200, Greenbelt, MD 20770Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/14/202877.5 77.5 79.6 0.02 %
Baby's on Broadway LLC(#,^)47 East Broadway , Little Falls, MN 56345Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%9/14/202835.2 35.2 36.8 0.01 %
Underground Productions LLC dba 31 Escape(#,^)1731 Decatur Hwy, Fultandale, AL 35068Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/13/204392.1 92.1 104.0 0.03 %
Innovative Network Solutions Inc(#,^)31567 West 10 Mile Rd, Farmington Hills, MI 48336Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/13/202888.4 88.4 91.5 0.02 %
Rancho Paving, Inc(#,^)339 Cypress Ln, El Cajon, CA 92020Repair and MaintenanceTerm LoanPrime plus 2.75%9/10/2028144.6 144.6 153.2 0.04 %
Asheville Spine and Nerve Institute PC(#,^)190 Broadway St Ste 205, Asheville, NC 28801Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/7/204383.3 83.3 94.1 0.02 %
Pelican Executives Suites, LLC(#,^)2200 Colorado Ave Sutie 131, Santa Monica, CA 90404Administrative and Support ServicesTerm LoanPrime plus 2.75%9/7/2028260.9 260.9 268.0 0.07 %
MurlinComputerCompany LLC dba Murlin Computer,(#,^)1014 Thompson Blvd Ste 38B, Sedalia, MO 65301Repair and MaintenanceTerm LoanPrime plus 2.75%9/7/202811.0 11.0 11.4 — %
Pool Guard of LA(#,^)10866 Washington Blvd, Apt #24, Culver City, CA 90232Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/7/202815.8 15.8 16.3 — %
Living Centers Inc. dba Veranda House Senior Living(#,^)5129 E 5th St, Katy, TX 77493Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%8/31/2043392.7 392.7 443.3 0.11 %
XL Soccer World Orlando. LLC, XL Soccer World Saco LLC, XL Sports World(#,^)825 Courtland St., Orlando, FL 32804Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/30/2043418.9 418.9 473.0 0.12 %
Extreme Engineering, Inc.(#,^)598 Oliver Dr, Troy, MI 48084Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/29/202887.1 87.1 89.7 0.02 %
Kotyark LLC dba Gibsonton Motel(#,^)11545 US Hwy 41S, Gibsonton, FL 33534AccommodationTerm LoanPrime plus 2.75%8/29/204376.8 76.8 86.7 0.02 %
ARVAmethod LLC(#,^)516 N Ogden Ave # 150, Chicago, IL 60642Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/29/20281.7 1.7 1.7 — %
Greenfield Hill Wines & Spirits, LLC(#,^)65 Hillside Rd, Fairfield, CT 06824Food and Beverage Stores Term LoanPrime plus 2.75%8/29/202864.2 64.2 66.1 0.02 %
Graphish Studio, Inc.(#,^)231 Main St, Stamford, CT 06901Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/28/20285.2 5.2 5.4 — %
Atlas Geo-Constructors LLC(#,^)3466 Thomasville Rd Winston, Winston-Salem, NC 27107Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/24/202856.4 56.4 59.9 0.02 %
Wearware Inc dba FlyWire Cameras(#,^)2204 Blackmoor Park Ln, Lexington, KY 40509Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%8/24/202815.7 15.7 16.2 — %
113
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Montana Life Group, LLC(#,^)8 N 9th Ave, Bozeman, MT 59715Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/24/20285.2 5.2 5.4 — %
Finn & Emma LLC(#,^)1275 Bloomfield Ave Building 5 Unit 28B, Fairfield, NJ 07004Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%8/24/202887.3 87.3 89.7 0.02 %
Zash LLC dba Papa Murphy's take 'N' Bake Pizza(#,^)2303 White Bear Ave, Maplewood, MN 55025Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/23/202829.4 29.4 30.7 0.01 %
Buffalo Biodiesel Inc.(#,^)225 Sawyer Ave, Tonawanda, NY 14150Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%8/21/2028933.7 933.7 990.7 0.25 %
GeoTek Alaska, Inc(#,^)2756 Commercial Dr, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/17/2044118.8 118.8 134.1 0.03 %
ATI Jet, Inc.(#,^)7007 Boeing Dr, El Paso, TX 79925Air TransportationTerm LoanPrime plus 2.75%8/16/2028139.6 139.6 147.3 0.04 %
Lewins Law, P.C.(#,^)7920 Belt Line Rd Ste 650, Dallas, TX 75254Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/16/202812.5 12.5 12.9 — %
GS Bath Inc(#,^)5335 E Kaviland Ave, Fresno, CA 93725Truck TransportationTerm LoanPrime plus 2.75%8/15/2028359.3 359.3 382.6 0.10 %
Pamletics LLC dba F45(#,^)22015 IH 10 West, San Antonio, TX 78257Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/14/202831.3 31.3 32.7 0.01 %
David D. Sullivan dba DMS Construction(#,^)6400 Charwood Place, Bakersfield, CA 93306Specialty Trade ContractorsTerm Loan6%8/9/20289.5 9.5 9.0 — %
Crystal Shores Inc. dba Shorewood Laundromat(#,^)700 West Jefferson St, Shorewood, IL 60404Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/9/202815.6 15.6 16.2 — %
Palanuk & Associates, Inc.dba Wolfpk(#,^)28110 SE Fern Dr, Boring, OR 97009Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/8/202871.4 71.4 73.5 0.02 %
CJNR, LLC(#,^)208 East Main St, Elma, WA 98541AccommodationTerm LoanPrime plus 2.75%8/7/2043113.4 113.4 128.0 0.03 %
Mercedes Cab Company, Inc(#,^)35 Alden St, Province Town, MA 02657Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%8/7/202889.3 89.3 92.6 0.02 %
Ron's Pool and Spa Services LLC(#,^)1419 NE 30th St., Pompano, FL 33064Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/3/20282.6 2.6 2.7 — %
20th Century Lanes, Inc dba West Seattle Bowl(#,^)4505 39 Ave SW, Seattle, WA 98116Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/3/202881.7 81.7 86.5 0.02 %
Alma Jacobsen,ODD Family Eye Care & Contact Lens LLC(#,^)1700 Nottingham Way Ste 12A, Hamilton, NJ 08619Health and Personal Care Stores Term LoanPrime plus 2.75%8/3/202841.9 41.9 43.2 0.01 %
Millwork Unlimited, Incorporated(#,^)8264 Pine Cay Rd, Wellington, FL 33414Wholesale Electronic Markets and Agents and Brokers Term LoanPrime plus 2.75%8/2/20285.2 5.2 5.4 — %
Accel Compression Inc., Accel Workover Services, Inc(#,^)4500 S Country Rd, Odessa, TX 79765Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/1/2043284.5 284.5 321.2 0.08 %
Accel Compression Inc., Accel Workover Services Inc. dba Mica Tool(#,^)4500 S. Country Rd 1310, Odessa, TX 79765Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/1/2028336.1 336.1 354.9 0.09 %
Samy Optical LLC dba Site for Sore Eyes(#,^)1350 Travis Blvd Ste 1507A, Fairfield, CA 94533Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/1/202855.4 55.4 56.9 0.01 %
114
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

CSL Services Inc(#,^)7905 Browning Rd, Ste.312,314,316, Pennsauken, NJ 08109Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/27/2028377.8 377.8 394.7 0.10 %
Nunez Enterprises Corporation dba La Casa(#,^)3330 Piedmont RD NE, Atlanta, GA 30305Miscellaneous Store Retailers Term LoanPrime plus 2.75%7/26/20284.2 4.2 4.4 — %
Relevant Elephant ,LLC(#,^)ON320 Woodvale St, Winfield, IL 60190Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/25/20283.8 3.8 3.9 — %
TR Nails, LLC dba Simple Nails(#,^)158 Great Rd, Bedford, MA 01730Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/20/202843.1 43.1 44.3 0.01 %
ZA Trucking LLC(#,^)5945 York Way, East Lansing, MI 48823Truck TransportationTerm LoanPrime plus 2.75%7/17/20283.6 3.6 3.8 — %
674 Club LLC(#,^)674 N Orleans, Chicago, IL 60654Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/2043253.2 253.2 285.9 0.07 %
Mother's Cantina LLC dba Mother's Cantina(#,^)2810 Philadephia Ave Unit #10, Ocean City, MD 21842Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/13/202847.4 47.4 49.0 0.01 %
HQTRONICS LLC(#,^)10135 South Roberts Rd Ste 209, Palos Hills, IL 60465Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%7/13/202843.1 43.1 44.3 0.01 %
Smart-tel Communications LLC(#,^)9720 W. Colfax Ave Ste 100, Lakewood, CO 80215Administrative and Support ServicesTerm LoanPrime plus 2.75%7/13/202814.5 14.5 15.4 — %
Smoove Move Productions, LLC dba Smoove Move Productions(#,^)3932 North 16th St, Omaha, NE 68110Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%7/12/20287.3 7.3 7.8 — %
Vital Inspection Professionals, Inc. dba VIP(#,^)180 Airpark Industrial Rd, Alabaster, AL 35007Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/3/2028214.7 214.7 226.6 0.06 %
US Cargo Express, LLC(#,^)4735 22 Mile Rd, Utica, MI 48317Support Activities for TransportationTerm LoanPrime plus 2.75%7/2/204378.5 78.5 88.6 0.02 %
Bio-Haz Solutions, Inc.(#,^)23 Tonoli Rd, Nesquehoning, PA 18240Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/29/2044346.8 346.8 391.5 0.10 %
Bio-Haz Solutions, Inc(#,^)23 Tonolli Rd, Nesquehoning, PA 18240Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/29/2029185.2 185.2 198.0 0.05 %
M J Losito Electrical Contractor's, Inc(#,^)98 Wooster St, Bethel, CT 06801Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/20286.3 6.3 6.7 — %
Corptek Solutions LLC(#,^)2363 N. Hwy # 287 Ste # 111, Mansfield, TX 76063Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/28/202832.4 32.4 33.2 0.01 %
Critter Cabana, LLC dba Critter Cabana(#,^)516 East Main St, Newberg, OR 97132Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/28/202845.9 45.9 47.1 0.01 %
Nick's Country Kitchen, LLC(#,^)3 Flanders RD, Building #1, Bethlehem, CT 06751Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/202815.4 15.4 15.8 — %
Bengals, Inc. dba Royal Liquor Mart(#,^)3714 E State St, Rockford, IL 61108Food and Beverage Stores Term LoanPrime plus 2.75%6/26/204398.6 98.6 111.3 0.03 %
Peter Thomas Roth Labs LLC, & June Jacobs Labs, LLC(#,^)400 Park Ave, Floor 14, New York, NY 10022Health and Personal Care Stores Term LoanPrime plus 2.75%6/26/2028631.4 631.4 652.7 0.17 %
DPF Filters Inc.(#,^)2832 Golden State Blvd., Madera, CA 93637Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/25/202846.3 46.3 47.8 0.01 %
Martha Beauty Supply And Braiding, Inc.(#,^)538 E Boughton Rd, Bolingbrook, IL 60440Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/22/2043129.2 129.2 145.9 0.04 %
115
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Sushi Prime, LLC and Vasilia Investments(#,^)32 SE 2nd Ave, Delray Beach, FL 33444Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/22/2028189.7 189.7 197.7 0.05 %
The Desert House Assisted Living ,LLC dba The Desert House Assisted(#,^)11055 E Grove St, Mesa, AZ 85208Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/22/204373.0 73.0 82.4 0.02 %
York Woods Tree Service, LLC dba York Woods Tree and Products, LLC(#,^)300 Harold Dow Hwy, Elliot, ME 03903Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/21/2043225.9 225.9 255.1 0.06 %
York Woods Tree Service, LLC dba York Woods Tree and Products, LLC(#,^)300 Harold Dow Hwy, Eliot, ME 03903Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/21/202897.3 97.3 102.7 0.03 %
Jones Roger Sherman Inn, Inc.(#,^)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/2028323.6 323.6 343.8 0.09 %
Colovic Hackettstown Dairy LLC(#,^)22 Route 57, Hackettstown, NJ 07840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/2043255.4 255.4 288.3 0.07 %
Mid America Motorworks, Inc and Yager Holdings L.P(#,^)2900 North 3rd St, Effingham, IL 62401Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/19/2043265.0 265.0 299.2 0.08 %
Schumacker Recreation, LLC(#,^)5325 S University Dr, Davie, FL 33328Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/18/2028102.3 102.3 108.6 0.03 %
Allen Theatre and Back Stage Cafe LLC(#,^)36 East. Main St, Annville, PA 17003Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%6/18/2043116.9 116.9 132.0 0.03 %
Softrol Systems Inc dba Softrol Systems(#,^)1100 Northpoint Pkwy SE, Acworth, GA 30102Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/15/2028601.8 601.8 619.3 0.16 %
Venzix Ventures Inc. dba Venzix(#,^)750 Legend Oak Dr, Fountain, CO 80817Nonstore Retailers Term LoanPrime plus 2.75%6/15/20286.1 6.1 6.5 — %
Oil Palace Inc.(#,^)10408 Hwy 64 East, Tyler, TX 75707Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/15/2043135.0 135.0 152.4 0.04 %
Dianne Williams and Louis Williams dba Sweetlips Store(#,^)3870 Sweet Lips Rd, Henderson, TN 38340Food and Beverage Stores Term LoanPrime plus 2.75%6/15/204342.9 42.9 48.4 0.01 %
Tele Tax Express Inc(#,^)166 Getty Ave, Paterson, NJ 07503Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/202815.4 15.4 16.3 — %
Team Sandy Blanton Realty, Inc(#,^)1225 West Gregory St, Pensacola, FL 32502Real EstateTerm LoanPrime plus 2.75%6/14/204390.4 90.4 102.0 0.03 %
E & J Sims Co. LLC(#,^)28 Broad St, Bloomfield, NJ 07003Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/14/202834.1 34.1 35.3 0.01 %
Mastiff Studios LLC(#,^)2919 West Colorado Ave, Colorado Springs, CO 80904Educational ServicesTerm LoanPrime plus 2.75%6/13/204339.7 39.7 44.8 0.01 %
Camp K-9 Pet Resort & Spa, Inc.(#,^)18501 Le Claire Ave, Tinley Park, IL 60478Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/8/20285.6 5.6 5.8 — %
Icebox Cafe, L.C. and Icebox Cafe at Doral,LLC(#,^)1855 Purdy Ave, Miami Beach, FL 33139Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/8/2028592.1 592.1 610.1 0.15 %
Beyond Grooming LLC and Michelle McWatters(#,^)1200 Old Martindale Rd, San Marcos, TX 78666Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/8/204339.9 39.9 45.0 0.01 %
Anurag, LLC dba Oakwood Package Store(#,^)191-195 Oakwood Ave, West Hartford, CT 06107Food and Beverage Stores Term Loan6%6/6/2043126.9 126.9 123.4 0.03 %
116
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Hardway Inc and A F C Leasing, Inc(#,^)12533 S. 73rd East Place, Bixby, OK 74008Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/6/2028219.4 219.4 224.9 0.06 %
Sowells Consulting Engineers, LLC(#,^)13430 Northwest Freeway #260, Houston, TX 77040Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/6/202815.3 15.3 15.7 — %
Funtime ,LLC dba Indoor Playgrounds International(#,^)13200 West Foxfire Dr Ste 144, Surprise, AZ 85378Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/5/2028206.2 206.2 211.4 0.05 %
Mastrocinque Restaurant Management Company LLC dba Santionii's(#,^)3535 Hwy 17 Unit 14 &15, Fleming Island, FL 32003Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/1/202842.7 42.7 45.4 0.01 %
Awan Business Management Group LLC, Awan Sign Company lLLC(#,^)14429 South Wallin Dr, Plainfield, IL 60544Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/31/2043255.7 255.7 288.7 0.07 %
Crowley Ventures, LLC(#,^)665 Worthington Rd, Westerville, OH 43082Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/202850.4 50.4 51.9 0.01 %
Ocean Breeze Holdings, LLC, Ocean Beach Resort LLC & Ocean Breeze(#,^)3 Williams Ave, Mystic, CT 06355AccommodationTerm LoanPrime plus 2.75%5/25/20431,245.1 1,245.1 1,405.7 0.36 %
Starship, LLC dba Tint World Smyrna(#,^)2274 S Atlanta Rd SE, Smyrna, GA 30080Repair and MaintenanceTerm LoanPrime plus 2.75%5/25/204391.3 91.3 103.1 0.03 %
Broadalbin Properties LLC dba Broadalbin Hotel & 1854 Pub & Eatery(#,^)59 West Main St, Broadalbin, NY 12025AccommodationTerm LoanPrime plus 2.75%10/25/2043189.1 189.1 213.4 0.05 %
Dream Spa LLC and Dream Spa Greenwich LLC(#,^)1220 Post Rd East, Westport, CT 06880Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/202874.0 74.0 76.1 0.02 %
DMA Equipment LLC(#,^)700 Lee St, Elk Grove Village, IL 60007Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/24/2043251.5 251.5 284.0 0.07 %
Chem-Flotronics, Inc.(#,^)195 Paterson Ave, Little Falls, NJ 07424Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%5/22/202867.5 67.5 69.6 0.02 %
Mark A Espinoza, DDS PLLC dba Central Dental Care(#,^)9315 N Central Ave, Phoenix, AZ 85020Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/18/202842.6 42.6 43.6 0.01 %
Joshua One Limited Liability Company dba Genesis Personal Fitness(#,^)28 North State St Unit 100, Newtown, PA 18940Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/16/2043297.4 297.4 335.7 0.09 %
Clore Construction LLC(#,^)21220 FM 1420, Harlingen, TX 78550Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%5/16/2028100.9 100.9 105.2 0.03 %
Fireplace Outlet Inc(#,^)8216 Main St, Williamsville, NY 14221Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%5/15/202812.3 12.3 13.0 — %
Circle and Square, Inc dba Stamford Kumon(#,^)50 Forest St Ste 902, Stamford, CT 06901Educational ServicesTerm LoanPrime plus 2.75%5/11/202830.9 30.9 31.7 0.01 %
Daniel Woodward, DC PLLC dba Doc's Body Shop(#,^)3084 N Goliad St, Ste 114, Rockwall, TX 75087Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/11/202822.9 22.9 23.4 0.01 %
Baby Gentry's Childcare & Learning Academy(#,^)4203 Shenandoah Dr, Dayton, OH 45417Social AssistanceTerm LoanPrime plus 2.75%5/10/20287.6 7.6 7.8 — %
Buy Gitomer Inc., Gitgo LLC.,GitGo Archives, LLC, and Jeffrey Gitomer(#,^)310 Arlington Ave Unit 329, Charlotte, NC 28203Educational ServicesTerm LoanPrime plus 2.75%5/9/2043673.7 673.7 760.6 0.19 %
117
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Container Shipping, LLC(#,^)533 Nova Rd Ste 213B, Ormond Beach, FL 32174Support Activities for TransportationTerm LoanPrime plus 2.75%5/4/202833.7 33.7 34.6 0.01 %
Wilbur Standford Jr Trucking and Excavating, LLC(#,^)7505 North Chases Lake Rd, Watson, NY 13343Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/3/2028162.0 162.0 171.5 0.04 %
Olmsted LLC and 626 Van LLC dba Maison Yaki(#,^)659 Vanderbilt Ave, Brooklyn, NY 11238Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/1/2029171.6 171.6 178.5 0.05 %
Corona Dance, LLC dba Huracan Dance Studio(#,^)480 West Main St, Stamford, CT 06902Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%4/30/20287.9 7.9 8.0 — %
Saltamontes Tire Company, LLC(#,^)1955 Boston Ave, Brodgeport, CT 06604Repair and MaintenanceTerm LoanPrime plus 2.75%4/30/204394.8 94.8 107.0 0.03 %
Sunlinc Inc(#,^)170 Canterbury Court, East Windsor, NJ 08520Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/20286.5 6.5 6.7 — %
Metropolitan Solutions Inc.(#,^)1420 Chestnut St, Portsmouth, VA 23704Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/2043163.9 163.9 185.1 0.05 %
Brenden Kehren Development LLC(#,^)14689 Gemara Rd, Sparta, WI 54656Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/20282.0 2.0 2.1 — %
Little Angels Daycare and Learning Center LLC(#,^)4551 Summit Blvd, West Palm Beach, FL 33415Social AssistanceTerm LoanPrime plus 2.75%4/27/2043148.6 148.6 167.8 0.04 %
Rory James Contracting LLC(#,^)33 Bennett Place, Amityville, NY 11701Construction of BuildingsTerm LoanPrime plus 2.75%4/27/202810.7 10.7 11.0 — %
Kastoria Inc. dba Bantam Pizza(#,^)768 Bantam Rd, Bantam, CT 06750Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/202810.0 10.0 10.3 — %
RWT Corporation dba Welding Works(#,^)32 New Rd, Madison, CT 06443Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/26/2043196.9 196.9 222.3 0.06 %
K&S Hardware LLC(#,^)1865 W Wayzata Blvd, Long Lake, MN 55356Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%4/26/202815.0 15.0 15.4 — %
Pledge 4 Hope LLC(#,^)53 Bayberry Loop South, Purvis, MS 39475Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%4/26/20289.4 9.4 9.6 — %
Matrix Z, LLC(#,^)800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%4/26/202861.6 61.6 65.1 0.02 %
LMH Optics LLC dba Sterling Optical(#,^)1272 Smallwood Dr West, Waldorf, MD 20603Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/26/202833.4 33.4 34.2 0.01 %
Joe & Sons Service, Inc(#,^)855 Atwood Ave, Cranston, RI 02920Repair and MaintenanceTerm LoanPrime plus 2.75%4/24/202869.0 69.0 73.3 0.02 %
Spitnale's Garage LLC(#,^)3761 Mahoning Ave, Youngstown, OH 44515Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/204355.8 55.8 63.0 0.02 %
Rosemarie Products Company LLC(#,^)5400 Crooked Tree Dr, Mason, OH 45040Health and Personal Care Stores Term LoanPrime plus 2.75%4/18/202810.0 10.0 10.3 — %
Veterinary Preventive Care, LLC(#,^)945 Riverview Ct, Xenia, OH 45385Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/18/202831.2 31.2 32.3 0.01 %
A New Dawn Psychotherapy Associates, LLC(#,^)308 E Broad St, Bethlehem, PA 18018Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/18/204380.9 80.9 91.4 0.02 %
118
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Southern HVAC LLC(#,^)119 Ouachita 212, Camden, AZ 71701Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/204320.8 20.8 23.5 0.01 %
Southern Oaks Athletic Club, LLC(#,^)15253 Shenandoah Ave, BATON ROUGE, LA 70817Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/17/2043339.2 339.2 382.9 0.10 %
Southern HVAC LLC(#,^)119 Ouachita 212, Camden, AR 71701Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/202826.4 26.4 27.7 0.01 %
Patricia A. Freeman & Samuel C. Freeman dba Teenas Pizza(#,^)35 E Main St, Pekin, IN 47165Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/13/204338.7 38.7 43.6 0.01 %
Precision Components Group Inc(#,^)190 Doty Circle, West Springfield, MA 01089Miscellaneous ManufacturingTerm LoanPrime plus 2.75%4/11/202815.0 15.0 15.8 — %
Sexy Nails Center LLC(#,^)57 Passaic St, Garfield, NJ 07026Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/10/2043187.3 187.3 211.4 0.05 %
Mark Baker(#,^)1653 Evalie Dr, Fairfield, OH 45014Truck TransportationTerm LoanPrime plus 2.75%4/9/20286.5 6.5 6.8 — %
Innovation Transport LLC(#,^)1 International Blvd, Ste 400, Mahwah, NJ 07495Truck TransportationTerm LoanPrime plus 2.75%4/6/202834.3 34.3 36.1 0.01 %
Shree Lakshminarayyn Grocery Stores LLC(#,^)3307 Charles St, Rockford, IL 61108Gasoline Stations Term LoanPrime plus 2.75%4/5/2043111.0 111.0 125.3 0.03 %
Newsome Mobile Notary LLC(#,^)8153 12th Ave SW, Seattle, WA 98106Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/5/20283.5 3.5 3.6 — %
Fifth Wheel Truck Stop 001(#,^)3767 S Golden State Blvd, Fresno, CA 93725Gasoline Stations Term LoanPrime plus 2.75%3/30/20431,057.8 1,057.8 1,194.3 0.30 %
Michael S Brown Physical Therapy, P.C(#,^)300 Hempstead Tpke Ste. 3 & 4, Hempstead, NY 11552Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/30/202864.1 64.1 65.7 0.02 %
America's Little Leaders Academy, Inc(#,^)2570 NW 152nd Terrace, Opa-Locka, FL 33054Social AssistanceTerm LoanPrime plus 2.75%3/30/204320.8 20.8 23.4 0.01 %
Technical Ordnance Solutions,LLC(#,^)9950 Business Circle, Ste 13, Naples, FL 34112Fabricated Metal Product ManufacturingTerm Loan7.75%3/30/2028901.9 901.9 860.9 0.22 %
Payne's Environmental Services LLC(#,^)5617 Causeway Blvd, Tampa, FL 33619Administrative and Support ServicesTerm LoanPrime plus 2.75%3/30/2028149.6 149.6 157.0 0.04 %
Alaska Industrial Paint LLC(#,^)1301 N Post Rd, Anchorage, AK 99501Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/2043205.0 205.0 231.4 0.06 %
GQ Investments,LLC(#,^)5772 Miami Lakes Dr East, Miami, FL 33014Electrical Equipment, Appliance, and Component ManufacturingTerm LoanPrime plus 2.75%3/30/2028138.9 138.9 143.3 0.04 %
Romancing the Stone(#,^)140 Centre of New England Blvd, Coventry, RI 02816Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/30/2043323.0 323.0 364.7 0.09 %
Alaska Industrial Paint LLC(#,^)1301 N Post Rd, Anchorage, AK 99501Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/202882.3 82.3 87.5 0.02 %
Kaz Wellness, LLC dba Grounded Wellness Center(#,^)104 Clover Court, Bartlett, IL 60103Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202810.5 10.5 10.9 — %
Lou & Choo Enterprises Inc.(#,^)2101 West Hunting Park Ave, Philadelphia, PA 19140Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/2044100.9 100.9 113.9 0.03 %
Clancy 15 LLC and Allied Molded Products LLC(#,^)1145 13th Ave East, Palmetto, FL 34221Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/28/2028111.5 111.5 116.6 0.03 %
119
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Cartwright Termite & Pest Control Inc. and Cartwright Termite &Pest Co(#,^)1376 Broadway , El Cajon, CA 92021Administrative and Support ServicesTerm LoanPrime plus 2.75%3/28/2028147.3 147.3 154.1 0.04 %
Montage Mountain Resorts, LP(#,^)1000 Montage Mountain Rd, Scranton, PA 18505Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/28/20431,154.0 1,154.0 1,302.8 0.33 %
Clancy 15 LLC and Allied Molded Products LLC(#,^)1145 13th Ave East, Palmetto, FL 34221Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/28/2043205.2 205.2 231.7 0.06 %
Corning Lumber Company Inc & Frank R Close & Son Inc dba True Valley(#,^)111 E. Laurel St, Willows, CA 95988Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/28/202857.7 57.7 61.2 0.02 %
K.C. Communications, Inc.(#,^)2715 Saturn St, Brea, CA 92821TelecommunicationsTerm LoanPrime plus 2.75%3/27/202841.2 41.2 43.7 0.01 %
Cable Management, LLC(#,^)200 Pratt St, Meriden, CT 06450Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202853.0 53.0 56.0 0.01 %
Aque Investment Group LLC(#,^)3838 N. Sam Houston Pkwy E, Houston, TX 77032Real EstateTerm LoanPrime plus 2.75%3/23/2028175.2 175.2 185.7 0.05 %
Kajun Martial Arts LLC(#,^)36546 Mission St, Prairieville, LA 70769Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/23/202814.8 14.8 15.2 — %
Shweiki Media Inc dba Study Breaks Magazine(#,^)4954 Space Center Dr, San Antonio, TX 78218Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/23/202848.7 48.7 51.6 0.01 %
Sofasco, Inc(#,^)182 Garber Ln, Winchester, VA 22602Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/23/204387.3 87.3 98.6 0.02 %
New York Label & Box Corp(#,^)50 Oval Dr, Islandia, NY 11749Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/23/20431,197.8 1,197.8 1,352.3 0.34 %
All Regional Recyclers of Wood LLC dba ARROW(#,^)104 Wooster St, Bethal, CT 06801Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202886.6 86.6 90.9 0.02 %
Denton BioFuels LLC and Amercian BioSource, LLC(#,^)624 W. University Dr.#359, Denton, TX 76201Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202863.7 63.7 66.3 0.02 %
GeoTek Alaska, Inc(#,^)2756 Commercial Dr, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/21/2043599.9 599.9 677.3 0.17 %
Rexco Foods LLC dba Papa John's(#,^)18640 Fm 1488 Ste C, Magnolia, TX 77354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/20/202828.0 28.0 28.7 0.01 %
RTSP Union LLC(#,^)2438 Route 22 East, Union, NJ 07083Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%9/20/2028848.3 848.3 887.6 0.22 %
Cest Chic Concepts, LLC dba Salon Cest Chic(#,^)15231 Hall Station Rd Unit 104, Bowie, MD 20721Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/19/20287.4 7.4 7.7 — %
Petroleum Equipment & Services, Inc(#,^)5631 Silverado Way Unit G, Anchorage, AK 99518Support Activities for MiningTerm LoanPrime plus 2.75%3/16/2028165.0 165.0 174.9 0.04 %
Camerabots Media, LLC(#,^)4501 Ford Ave Ste 207, Alexandria, VA 22302Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/16/20289.9 9.9 10.2 — %
Rojenco, Inc. dba Buggy Bathe Auto Wash Lube & Detail Shoppe(#,^)2217 Richmond Rd, Williamsburg, VA 23188Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2043479.1 479.1 540.9 0.14 %
Rojenco II,Inc.(#,^)4357 Shore Dr, Virginia Beach, VA 23455Repair and MaintenanceTerm LoanPrime plus 2.75%9/15/204371.3 71.3 80.5 0.02 %
120
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Rojenco II, Inc.(#,^)4357 Shore Dr, Virginia Beach, VA 23455Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2043371.5 371.5 419.4 0.11 %
Rojenco, Inc. dba The Buggy Bathe Auto Wash Lube & Detail Shoppe(#,^)2217 Richmond Rd, Williamsburg, VA 23188Repair and MaintenanceTerm LoanPrime plus 2.75%9/15/204371.3 71.3 80.5 0.02 %
Summit Insights Group LLC(#,^)19 Briant Pkwy, Summit, NJ 07901Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/14/20281.9 1.9 2.0 — %
SRG Waterfront LLC(#,^)88 District Square SW, Washington, DC 20005Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/9/2028191.8 191.8 197.0 0.05 %
Dante Ultimate Cleaning Service LLC(#,^)16969 River Park Dr, Covington, LA 70345Administrative and Support ServicesTerm LoanPrime plus 2.75%3/9/20286.7 6.7 7.0 — %
Unpainted Arizona, LLC dba Westside Bowl(#,^)2617 Mahoning Ave, Youngstown, OH 44509Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/7/204396.9 96.9 109.4 0.03 %
BC Bishop Enterprises LLC dba 9Round Pooler(#,^)105-107 Grand Central Blvd, Pooler, GA 31322Educational ServicesTerm LoanPrime plus 2.75%3/2/20285.2 5.2 5.3 — %
Merciful Heavenly Homes, LLC(#,^)401 Dillar's Mill Rd, Tyner, NC 27980Nursing and Residential Care FacilitiesTerm Loan8%2/28/204361.2 61.2 60.5 0.02 %
Urban Fitness Group LLC dba Crunch Fitness Group LLC(#,^)2800 S IH-35, Ste 220, Round Rock, TX 78681Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/28/2028146.1 146.1 154.9 0.04 %
The Law Offices of Samuel R Miller LLC(#,^)7405 Lake Worth Rd, Lake Worth, FL 33467Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/28/2043109.7 109.7 123.8 0.03 %
Connie Engelbrecht(#,^)20640 Raven Dr, Eagle River, AK 99577Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%2/28/20282.0 2.0 2.0 — %
Betty's Catering Corp, Betty's Decoration & Wedding Center Inc.(#,^)94-33 Corona Ave, Corona, NY 11373Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/26/2043326.7 326.7 368.9 0.09 %
Jackpine Technologies Corporation(#,^)1 Mill & Main Pl., Ste 330, Maynard, MA 01754Publishing Industries (except Internet)Term LoanPrime plus 2.75%2/22/202824.1 24.1 25.6 0.01 %
Crossfit iQ LLC(#,^)342 Pike Rd Ste 27, West Palm Beach, FL 33411Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/21/202827.7 27.7 28.6 0.01 %
Town & Country Transportation Co.(#,^)191-193 Arch St, New Britain, CT 06051Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/16/202843.0 43.0 45.6 0.01 %
Lulinjett LLC dba All American Printing & Design(#,^)4621 Bayshore Rd, Fort Myers, FL 33917Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%2/14/204398.0 98.0 110.6 0.03 %
JumboMarkets, Inc.(#,^)15500 SW Trail Dr, Indiantown, FL 34956Food and Beverage Stores Term LoanPrime plus 2.75%2/13/2028135.3 135.3 139.9 0.04 %
Margab Inc dba Smoothie King(#,^)14200 SW 8th St Unit #102, Miami, FL 33184Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/13/20282.3 2.3 2.4 — %
Tony Herring & Associates, Inc.(#,^)211 West Camellia Dr, Slidell, LA 70458Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%2/9/20285.4 5.4 5.7 — %
Apps Inc., Market Share, and Singular Leaseholdings LLC(#,^)80 Main St, Old Saybrook, CT 06475TelecommunicationsTerm LoanPrime plus 2.75%2/8/2028378.3 378.3 386.8 0.10 %
De La Vega LLC dba De La Vega Deland and De La Vega Oviedo(#,^)128 North Woodland Blvd, Deland, FL 32720Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/7/202823.1 23.1 24.2 0.01 %
121
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Macrotech Integrated Management Solutions dba Extreme Lawn Care(#,^)2425 Durrance LN, Ormond Beach, FL 32174Repair and MaintenanceTerm LoanPrime plus 2.75%2/5/20287.8 7.8 8.3 — %
Midlothian Hardware Inc dba Grills True Value(#,^)4751 West 147th St, Midlothian, IL 60445Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%2/2/20289.8 9.8 10.4 — %
Rocco'sLandscaping LLC(#,^)151 Kitts Ln, Newington, CT 06111Administrative and Support ServicesTerm LoanPrime plus 2.75%1/31/204369.0 69.0 77.9 0.02 %
USA General Investment LLC dba Braniff Paint and Body Shop(#,^)2290 NW 21st Terrace, Miami, FL 33142Repair and MaintenanceTerm LoanPrime plus 2.75%1/31/20289.7 9.7 10.0 — %
WydeBodi, LLC dba Wyde Bodi Auto Tags(#,^)706 North 37th St, Philadelphia, PA 19104Support Activities for TransportationTerm LoanPrime plus 2.75%1/30/204343.7 43.7 49.3 0.01 %
New Phaze Packaging Inc(#,^)9533 Irondale Ave, Los Angeles, CA 91311Paper ManufacturingTerm LoanPrime plus 2.75%1/26/2043882.3 882.3 996.2 0.25 %
Concrete Services LLC and James Ward(#,^)24 County Rd 901, Jemison, AL 35085Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/25/202860.7 60.7 63.3 0.02 %
Flair Interiors, Inc dba Giant Don's Flooring America(#,^)7725 Old Seward Hwy, Anchorage, AK 99502Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%1/24/202888.6 88.6 93.9 0.02 %
Lavish Specs Inc(#,^)262 Glen St, Glen Cove, NY 11542Machinery ManufacturingTerm LoanPrime plus 2.75%1/19/20284.8 4.8 4.9 — %
Weeping Willow Kennels, Inc.(#,^)6041 Hammond School Rd, Salisbury,, MD 21804Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/19/20286.8 6.8 7.2 — %
Lou & Choo Enterprises Inc dba Lou & Choo Lounge(#,^)2101,2103 & 2105 West Hunting Park Ave, Philadelphia, PA 19140Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/18/2043106.2 106.2 119.9 0.03 %
MedWorxs Inc.(#,^)6857 Timbers Dr., Evergreen, CO 80439Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/18/202850.7 50.7 51.9 0.01 %
Specialized Dairy Processors LLC and Nathaly Zapata(#,^)2200 N Commerce Pkwy, Weston, FL 33326Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/16/202844.5 44.5 45.4 0.01 %
Work of Heart Inc dba Little Nest Portraits(#)1000 Merdian Blvd, Ste 112, Franklin, TN 37067Professional, Scientific, and Technical ServicesTerm Loan7.5%1/10/20283.5 3.5 3.3 — %
Sandfree Systems LLC(#,^)116 Cricket Ave Ste B, Ardmore, PA 19003Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/5/20284.8 4.8 5.1 — %
Crad Holding LLC dba Neighborhood Laundry of Bloomfield(#,^)60 Dodd St, Bloomfield, NJ 07003Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/5/202839.6 39.6 40.6 0.01 %
Social Link LLC(#,^)41Peabody St, Nashville, TN 37210Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/20277.2 7.2 7.5 — %
Farec, Inc(#)30250 W Nine Mile Rd, Farmington, MI 48336Amusement, Gambling, and Recreation IndustriesTerm Loan7.5%12/29/2042242.4 242.4 239.8 0.06 %
O'Rourke's Diner, LLC(#,^)728 Main St, Middleton, CT 06457Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/22/20272.4 2.4 2.5 — %
Medical Plaza of Boro Park PC(#,^)1266 51St 1st Floor, Brooklyn, NY 11219Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/20276.4 6.4 6.8 — %
Muckamuck Trucks, Inc.(#,^)510 S Spring St, Ukiah, CA 95482Truck TransportationTerm LoanPrime plus 2.75%12/22/20278.7 8.7 9.3 — %
122
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Anderson Farms Inc(#)271 West Hwy 30, Burley, ID 83318Truck TransportationTerm Loan7.5%12/22/20274,144.6 4,144.6 4,053.9 1.03 %
Landmark Ventures USA Inc(#,^)475 Park Ave South 25th Floor, New York, NY 10016Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%12/22/202739.8 39.8 41.7 0.01 %
Salida Family Chiropractic-PPLC dba Salida Sport and Spine(#,^)203 G St, Salida, CO 81201Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/20277.6 7.6 8.0 — %
CT Auto Spa LLC(#,^)39 Albany Turnpike, West Simsbury, CT 06092Repair and MaintenanceTerm LoanPrime plus 2.75%12/21/2027136.1 136.1 144.8 0.04 %
Blue Lagoon Resort, LLC dba Hill View Cottages(#,^)3670 Lake Shore Dr, Lake George, NY 12845AccommodationTerm LoanPrime plus 2.75%12/21/2042172.9 172.9 195.3 0.05 %
DHD Enterprise LLC dba Edible Arrangements #1699(#,^)828 Washington Ave, Miami Beach, FL 33139Miscellaneous Store Retailers Term LoanPrime plus 2.75%12/21/202714.6 14.6 15.3 — %
DBMS Consulting, Inc.(#,^)164 West 83rd St- Units 1F/1P, New York, NY 10024Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202753.6 53.6 56.7 0.01 %
Auto Excellance of Fort Myers Inc.(#,^)3105 Fowler St, Fort Myers, FL 33901Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/19/204297.5 97.5 110.1 0.03 %
Ocean Trans LLC & Dehal Trucking LLC(#,^)1415 W. Anderson St, Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%12/15/2042581.2 581.2 656.2 0.17 %
Legion Bowl, Inc & Legion Pub Inc(#,^)661 Park St, Cranston, RI 02910Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/15/2042303.8 303.8 343.0 0.09 %
Peanut Butter & Co., Inc(#,^)119 West 57th St, Ste 300, New York, NY 10019Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/15/2027143.3 143.3 150.0 0.04 %
KR Calvert & Co, LLC(#,^)1620 Westgate Circle Ste 100, Brentwood, TN 37027Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/14/2027335.6 335.6 351.6 0.09 %
Royalty Freight Inc(#,^)3728 W Mckinley Ave, Fresno, CA 93722Truck TransportationTerm LoanPrime plus 2.75%12/14/2027420.5 420.5 440.4 0.11 %
Atlas Geo-Constructors, LLC(#,^)3466 Thomasville Rd, Winston Salem, NC 27107Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/14/2027212.3 212.3 225.1 0.06 %
Heung Kyun Im(#,^)6235 Conlan Bay Dr, Houston, TX 77041Nonstore Retailers Term LoanPrime plus 2.75%12/14/20279.8 9.8 10.3 — %
AADJ Empire Inc and AADJ Galaxy Inc.(#,^)1599 Post Rd, Warwick, RI 02888Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/2042166.4 166.4 187.9 0.05 %
Nichols Fire and Security LLC(#,^)1906 Vanderhorn Dr, Memphis, TN 38134Administrative and Support ServicesTerm LoanPrime plus 2.75%12/13/204280.5 80.5 90.9 0.02 %
Hardway Inc & AFC Leasing Inc(#,^)12533 S. 73rd E. Place, Bixby, OK 74008Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/13/2027298.9 298.9 313.0 0.08 %
LPB LPB Property Management Inc dba Wilderness View Cabins & Ellijay(#,^)498 Wilderness View, Chatsworth, GA 30705Real EstateTerm LoanPrime plus 2.75%12/12/204230.9 30.9 34.9 0.01 %
Clore Construction LLC(#,^)21220 FM 1420, Harlingen, TX 78550Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/12/2027292.8 292.8 310.5 0.08 %
A-1 Van Services Inc(#,^)154 Sandy Creek Rd, Verona, PA 15147Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/12/2027466.4 466.4 495.1 0.13 %
123
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Big Picture Group LLC(#,^)935 N La Jolla, Los Angeles, CA 90046Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/12/2027266.1 266.1 280.2 0.07 %
Jai Ganeshai LLC, Mahiveera 1 LLC, Mahiveera 2 LLC & KSVP LLC(#,^)1120 Wren School Rd, Piedmont, SC 29673Gasoline Stations Term LoanPrime plus 2.75%12/12/202731.2 31.2 32.6 0.01 %
Clear Sound Communications, Inc(#,^)680 Old Medford Ave, Medford, NY 11763Administrative and Support ServicesTerm LoanPrime plus 2.75%12/8/20272.4 2.4 2.5 — %
AV Strategy Inc(#,^)9468 American Eagle Way Ste 100, Orlando, FL 32837Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/8/2027310.6 310.6 328.1 0.08 %
ODS Inc(#,^)626 N Delsea Dr, Glassboro, NJ 08028Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/6/202731.2 31.2 32.9 0.01 %
Oil Palace, Inc.(#,^)10408 Hwy 64 East, Tyler, TX 75707Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/4/2042938.3 938.3 1,059.3 0.27 %
Healthcare Interventions, Inc dba Brightstar Healthcare(#,^)5300 W. Atlantic Ave. Ste 501, Delray Beach, FL 33484Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/4/20279.5 9.5 10.0 — %
Salud Bar & Grill LLC(#,^)1413 Bushwick Ave, Brooklyn, NY 11207Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/1/202735.8 35.8 37.5 0.01 %
Linda Jean Howard Riley dba The Rusty Bolt(#,^)22345 W. Rt 66, Seligman, AZ 86337Miscellaneous Store Retailers Term LoanPrime plus 2.75%12/1/204219.3 19.3 21.7 0.01 %
Square1 Partners, LLC(#,^)1088 Greenbriar Ln, Northbrook, IL 60062Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/1/202739.6 39.6 41.5 0.01 %
WTI Distribution Inc(#,^)5491 E Francis St, Ontario, CA 91761Support Activities for TransportationTerm LoanPrime plus 2.75%11/30/2027$25.1 $25.1 $26.6 0.01 %
OPH Lexington, Inc(#,^)235 Walton Ave, Lexington, KY 40502Social AssistanceTerm LoanPrime plus 2.75%11/29/2042$175.0 $175.0 $197.6 0.05 %
Our Playhouse Preschool, LLC(#,^)3501 NC Hwy 54 W, Chapel hill, NC 27516Social AssistanceTerm LoanPrime plus 2.75%11/29/2042$214.8 $214.8 $242.5 0.06 %
Beacon Brewing LLC and C' Sons, LLC(#,^)700 Lincoln St, Lagrange, GA 30204Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2042$116.3 $116.3 $131.3 0.03 %
Webtez Inc dba Mod Vans(#,^)920 Graves Ave, Oxnard, CA 93003Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/22/2027$44.0 $44.0 $46.1 0.01 %
Step Up Academy of the Arts, LLC(#,^)2258A Wigwam Pkwy, Henderson, NV 89074Educational ServicesTerm LoanPrime plus 2.75%11/22/2027$9.9 $9.9 $10.4 — %
JMD Corporation dba Dart's True Value(#,^)121 South Main St, Payette, ID 83661Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%11/22/2027$11.7 $11.7 $12.4 — %
Grumpy's Restaurant Company, LLC(#,^)834 Kingsley Ave, Orange Park, FL 32073Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/2027$44.7 $44.7 $46.8 0.01 %
Cali Fit Meals(#,^)3450 East Orangethrope Ave, Anaheim, CA 92806Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/2027$14.1 $14.1 $15.0 — %
PB Market LLC dba Pure Barre(#,^)164-C Market St, Charleston, SC 29401Educational ServicesTerm LoanPrime plus 2.75%11/21/2027$68.2 $68.2 $71.5 0.02 %
B Lam LLC(#,^)9419 Kenwood Rd, Cincinnati, OH 45242Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/20/2042$166.1 $166.1 $187.5 0.05 %
124
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Maya Motel, LLC dba Town House Motel(#,^)1701 Washington Ave, Waco, TX 76701AccommodationTerm LoanPrime plus 2.75%11/17/2042$52.2 $52.2 $59.0 0.01 %
Southern Specialty Contractor, LLC & Ronald David Holbrook Jr.(#,^)1990 Flippen Rd, Stockbridge, GA 30281Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/17/2027$33.3 $33.3 $34.9 0.01 %
H & H Hotshot Services, Inc.(#,^)5455 N. 51st Ave Ste 30, Glendale, AZ 85301Couriers and MessengersTerm LoanPrime plus 2.75%11/16/2027$44.0 $44.0 $46.4 0.01 %
Auto Rx LLC,J&P Auto Repair Inc(#,^)91 & 95 Woodbury Rd, Hicksville, NY 11801Repair and MaintenanceTerm LoanPrime plus 2.75%11/15/2042$179.9 $179.9 $203.1 0.05 %
J R Wholesale Tires & Auto Center, LLC(#,^)822 Cameron Ln, Lugoff, SC 29078Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/15/2042$12.1 $12.1 $13.6 — %
Marcaco LLC(#,^)124 Lincoln Ave, Colonie, NY 12205Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%11/15/2042$498.5 $498.5 $562.8 0.14 %
Paramount Dance Studios Inc. and Homestead Dance Supply(#,^)112 N Krome Ave, Homestead, FL 33030Educational ServicesTerm LoanPrime plus 2.75%10/14/2043$433.8 $433.8 $489.7 0.12 %
Wing King at the Gardens LLC(#,^)4235 South Fort Apache Rd, Ste 250, Las Vegas, NV 89147Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/10/2027$6.1 $6.1 $6.4 — %
JNP Delivery Inc(#,^)4500 North Providence # 7, Appleton, WI 54913Couriers and MessengersTerm Loan6%11/7/2027$6.1 $6.1 $6.0 — %
His Loving Hands Christian Academy, Inc.(#,^)15020 Harrison St, Miami, FL 33176Social AssistanceTerm LoanPrime plus 2.75%11/6/2042$84.1 $84.1 $94.9 0.02 %
Sterling Campbell Insurance Agency, Inc(#,^)36359 North Gantzel Rd Ste 102, San Tan Valley, AZ 85140Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/3/2027$4.7 $4.7 $4.9 — %
S & S Auto Body Shop Inc.(#,^)5001 W. Clay St, Richmond, VA 23230Repair and MaintenanceTerm LoanPrime plus 2.75%11/3/2042$59.5 $59.5 $67.2 0.02 %
Rachael Reel dba Rachel Reel Insurance Age(#,^)208 Bank St, Lenoir, TN 37771Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%10/31/2027$4.7 $4.7 $4.9 — %
The Five Lakes LLC(#,^)13705 Holmes Rd, Kansas City, MO 64154Educational ServicesTerm LoanPrime plus 2.75%10/30/2042$434.5 $434.5 $490.6 0.12 %
Die Hard Used Car Sales(#,^)1668 West Grand Ave, Phoenix, AZ 85007Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%10/30/2042$51.7 $51.7 $58.4 0.01 %
Ashore Ventures Inc dba PuroClean Professional Restoration(#,^)909 SE Everett Mall Way Ste A-140, Everett, WA 98208Repair and MaintenanceTerm LoanPrime plus 2.75%10/27/2027$9.0 $9.0 $9.5 — %
Sage Oil LLC(#,^)8913 Egyptian Ave, Las Vegas, NV 89143Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/27/2027$6.2 $6.2 $6.5 — %
Blue Eagle Transport Inc , Golden Eagle Transport, Inc & Green Eagle(#,^)377 Boston Post Rd Unit B, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%10/27/2027$26.1 $26.1 $27.4 0.01 %
Suzie LLC dba Tony D's Restaurant(#,^)92 Huntington St, New London, CT 06320Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/25/2042$80.0 $80.0 $90.4 0.02 %
Grand Blanc Lanes, Inc.(#,^)5301 S. Saginaw Rd, Flint, MI 48507Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/25/2027$9.3 $9.3 $9.9 — %
Schafer Fisheries Inc(#,^)21985 Waller Rd, Fulton, IL 61252Food ManufacturingTerm LoanPrime plus 2.75%10/25/2027$24.8 $24.8 $26.4 0.01 %
125
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

The Jig, LLC(#,^)3115 Camp Phillips Rd, Wausau, WI 54403Food Services and Drinking PlacesTerm Loan8.25%10/24/2042$23.4 $23.4 $23.2 0.01 %
Island Refrigeration & AC Inc(#,^)3201 Flagler Ave, Unit 510 & 511, Key West, FL 33040Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/18/2042$121.2 $121.2 $136.9 0.03 %
Blueridge Armor LLC(#,^)1495 Hwy 74-A Bypass, Ste 150192, Spindale, NC 28160Miscellaneous ManufacturingTerm LoanPrime plus 2.75%10/17/2027$5.1 $5.1 $5.4 — %
H and K Dry Cleaning LLC ,Quintero Shopping Center LLC,Aqua Laundry(#,^)1227 Burnside Ave, East Hartford, CT 06108Electronics and Appliance Stores Term Loan7.5%10/17/2042$59.4 $59.4 $59.0 0.01 %
On Call Services LLC(#,^)15060 281St Ave NW, Zimmerman, MN 55398Construction of BuildingsTerm LoanPrime plus 2.75%10/13/2027$11.4 $11.4 $12.1 — %
Cortez Landscaping, LLC(#,^)4 Powder Rd, Norwalk, CT 06854Administrative and Support ServicesTerm LoanPrime plus 2.75%10/13/2027$11.9 $11.9 $12.6 — %
Ains Holding Company LLC(#,^)122 W. 26th St, New York, NY 10001Management of Companies and EnterprisesTerm LoanPrime plus 2.75%10/2/2027$67.1 $67.1 $70.5 0.02 %
Harco Metal Products Inc(#,^)7895 East Acoma Dr Ste 102, Scottsdale, AZ 85260Primary Metal ManufacturingTerm LoanPrime plus 2.75%9/29/2042$449.7 $449.7 $507.7 0.13 %
Threads of Time LLC(#,^)207 S Buchanan St, Danville, IL 61832Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%9/29/2042$125.5 $125.5 $141.7 0.04 %
Dan Cline Transport Inc.(#,^)501 State Dr, Mount Vernon, MO 65712Truck TransportationTerm LoanPrime plus 2.75%9/29/2030$705.7 $705.7 $764.3 0.19 %
Nicholson Lumber Co Inc.(#,^)377 Main St, Nicholson, PA 18446Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/28/2030$157.6 $157.6 $172.9 0.04 %
Rhode Island Tennis Management LLC(#,^)636 Centerville Rd, Warwick, RI 02886Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/28/2042$357.3 $357.3 $403.4 0.10 %
Pets A Go Go LLC(#,^)589 North State Rd, Briarcliff Manor, NY 10510Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/28/2042$181.5 $181.5 $204.9 0.05 %
Rhode Island Tennis Management LLC(#,^)636 Centerville Rd, Warwick, RI 02886Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/28/2042$513.1 $513.1 $579.3 0.15 %
Inspirations Food Design, Inc(#,^)1338 Memorial Ave, West Springfield, MA 01089Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/26/2042$425.4 $425.4 $480.2 0.12 %
JPS Arthur Kill Rd Bakery Corp dba Aunt Butches of Brooklyn(#,^)4864 Arthur Kill Rd Units 102,103,104 & 105, Staten Island, NY 10309Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/22/2027$13.7 $13.7 $14.4 — %
KB Waterjet Cutting LLC(#,^)4330 Parker Ln, Addis, LA 70710Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/22/2027$6.2 $6.2 $6.6 — %
Sallee Pro-Custom Fabrication Shop LLC(#,^)8865 North County Rd 600 W, Scipio, IN 47273Repair and MaintenanceTerm LoanPrime plus 2.75%9/21/2027$5.5 $5.5 $5.9 — %
Insight Diagnostic Technologist Services(#,^)2030 Forest Ave, Ste 110, San Jose, CA 95128Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/20/2027$202.3 $202.3 $212.5 0.05 %
Imagine By Carleen, Inc.(#,^)1404 Del Prado Blvd. South, Units 100 & 105, Cape Coral, FL 33904Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/20/2027$4.6 $4.6 $4.9 — %
CR Park Incorporated dba Define Body and Mind(#,^)49 W. Allandale Ave, Allendale, NJ 07401Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/20/2027$22.5 $22.5 $23.8 0.01 %
126
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Sound Manufacturing, Inc. & Monster Power Equipment, Inc.(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/20/2027$122.0 $122.0 $129.2 0.03 %
Stone's Construction and Remodeling, LLC(#,^)5210 Kaylin Dr, Akron, OH 44319Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/19/2027$3.2 $3.2 $3.3 — %
Li Family Spokane LLC(#,^)21 E. Lincoln Rd, Spokane, WA 99208Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/15/2042$351.1 $351.1 $396.4 0.10 %
Nails By Mercede LLC(#,^)2994 and 2996 Edgewater Dr, Orlando, FL 32804Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/13/2027$8.7 $8.7 $9.2 — %
Alaska Motor Home Inc(#,^)6633 Brayton Dr, Anchorage, AK 99507Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/13/2027$204.3 $204.3 $213.3 0.05 %
Town & Country Transportation Co. and Popco, LLC.(#,^)191 Arch St, New Britain, CT 06051Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/12/2042$153.9 $153.9 $173.8 0.04 %
Rajbai Maa Inc. dba Nara Lounge(#,^)244-252 Atwells Ave, Providence, RI 02903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/12/2042$354.8 $354.8 $400.4 0.10 %
Health & Performance Center, LLC(#,^)1862 Craigshire Rd, Saint Louis, MO 63146Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/11/2027$12.5 $12.5 $13.1 — %
Morgan Lynn Kerstetter dba Catherine School of Dance(#,^)315 Mill St 3rd Floor, Danville, PA 17821Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/11/2027$4.6 $4.6 $4.9 — %
Foxtail, LLC and Tottly New Services Corp(#,^)1481 Highland Ave, Cheshire, CT 06410Social AssistanceTerm LoanPrime plus 2.75%9/8/2042$265.9 $265.9 $300.2 0.08 %
South Fulton Landscape & Nursery, Inc.(#,^)3415 Enon Rd, College Park, GA 30349Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/7/2042$91.3 $91.3 $103.1 0.03 %
Crazy Beatz Productions LLC(#,^)20014 NE 138th St, Kearney, MO 64060Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 3.75%9/7/2027$3.3 $3.3 $3.6 — %
Dreaming Big Learning Center Inc(#,^)3301 W Oak St, Kissimmee, FL 34741Social AssistanceTerm LoanPrime plus 2.75%9/5/2042$346.8 $346.8 $391.6 0.10 %
Big Coop's Trucking LLC(#,^)3066 Misty Creek Dr., Swartz, MI 48473Truck TransportationTerm LoanPrime plus 2.75%9/1/2027$61.2 $61.2 $64.7 0.02 %
Blue EagleTransport Inc, Greeneagle Transport Inc & Golden Eagle Tran(#,^)377 Boston Post Rd, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%8/31/2027$260.5 $260.5 $273.1 0.07 %
Lake County Tow LLC(#,^)15409 Country Rd 565A, Clermont, FL 34711Support Activities for TransportationTerm LoanPrime plus 2.75%8/25/2042$79.7 $79.7 $90.0 0.02 %
Parlay Disributors LLC(#,^)20 Medford Ave, Ste 104, Patchogue, NY 11772Educational ServicesTerm LoanPrime plus 2.75%8/25/2027$67.2 $67.2 $70.3 0.02 %
Genuine Ventures LLC and Seaweed Ventures LLC(#,^)432 S Franklin St, Juneau, AK 99801Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/24/2030$436.7 $436.7 $474.4 0.12 %
Delicias de Minas Restaurant, LLC(#,^)168-170 McWhorter St, Newark, NJ 07105Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/22/2027$118.1 $118.1 $125.4 0.03 %
L&V Auto Sales, Inc.(#,^)1504 West Franklin Blvd., Gastonia, NC 28052Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%8/21/2027$10.9 $10.9 $11.6 — %
Tony Herring & Associates, Inc(#,^)211 West Camellia Dr, Slidell, LA 70458Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%8/17/2027$4.5 $4.5 $4.7 — %
127
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Chester's World Enterprise LLC(#,^)140 W Alameda Dr, Ste 104, Tempe, AZ 85282Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/16/2027$13.6 $13.6 $14.3 — %
D'Amato & Sons Construction, Inc.(#,^)117 Oak St, Amityville, NY 11701Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/11/2027$5.0 $5.0 $5.3 — %
Roundhay Partners LLC and Roundhay Farming LLC(#,^)6160 Granite Spring Rd, Somerset, CA 95684Crop ProductionTerm Loan8.25%8/8/2042$803.1 $803.1 $784.6 0.20 %
L & J Corporate Services Inc(#,^)866 NW 110th Ave, Coral Springs, FL 33071Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/4/2027$3.2 $3.2 $3.4 — %
Work of Heart Inc dba Little Nest Portraits(#,^)1000 Merdian Blvd, Ste 112, Franklin, TN 37067Professional, Scientific, and Technical ServicesTerm Loan7.5%7/28/2027$27.7 $27.7 $27.1 0.01 %
Sharon G McMillen, MA Psychologist, Inc.(#,^)216 West Main St, Kingwood, WV 26537Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/28/2027$11.1 $11.1 $11.6 — %
HQTRONIC LLC(#,^)10135 S. Roberts Rd, Ste. 209, Palos Hills, IL 60465Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%7/27/2027$13.4 $13.4 $14.0 — %
Oberon IT, Inc.(#,^)1404 W. Walnut Hill Ln, Irving, TX 75038Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/26/2027$130.6 $130.6 $137.6 0.03 %
Gilles Peress Studio LLC(#,^)76 Lafayette Ave, Brooklyn, NY 11217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/25/2027$36.7 $36.7 $38.3 0.01 %
Obok LLC(#,^)2720 S. Havana St., Unit H, Aurora, CO 80014Food ManufacturingTerm LoanPrime plus 2.75%7/21/2027$7.2 $7.2 $7.6 — %
Ocean Trans LLC(#,^)1415 W Andersonr Way, Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%7/21/2027$24.2 $24.2 $25.2 0.01 %
Lil Tots' Learning Center LLC(#,^)3042 S 78th St, Tampa, FL 33619Social AssistanceTerm LoanPrime plus 2.75%7/21/2042$23.6 $23.6 $26.7 0.01 %
Matrix Z LLC(#,^)800 SW 21st Terrace, Fort Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 3.75%7/19/2027$5.1 $5.1 $5.5 — %
Aitheras Aviation Group, LLC , Aitheras Aviation Group, LLC(#,^)2301 N Marginal Rd, Cleveland, OH 44114Air TransportationTerm LoanPrime plus 2.75%7/18/2027$492.2 $492.2 $514.6 0.13 %
Wildflour Bakery & Cafe, LLC(#,^)5137 Clareton Dr, Ste 100,110 & 120, Agoura Hills, CA 91301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/2027$13.4 $13.4 $14.2 — %
Koep Companies dba Pipestone True value(#,^)207 East Main St, Pipestone, MN 56164Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%7/14/2042$297.0 $297.0 $335.3 0.08 %
Hamilton & Associates Real Estate and Investments Firm LLC(#,^)11776 West Sample Rd, Coral Springs, FL 33065Real EstateTerm LoanPrime plus 2.75%6/30/2042$49.1 $49.1 $55.4 0.01 %
J. T. O'Neill Company, L.L.C(#,^)19972 Willowin Farm Ln, Purcellville, VA 20132Real EstateTerm LoanPrime plus 2.75%6/30/2027$8.8 $8.8 $9.2 — %
New Chicago Wholesale Bakery Inc.(#,^)795 Touhy Ave, Elk Grove Village, IL 60007Food ManufacturingTerm LoanPrime plus 2.75%6/30/2027$9.8 $9.8 $10.3 — %
J&M Civil Construction Services LLC(#,^)1221 County Rd 4371, Decatur, TX 76234Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/30/2027$62.7 $62.7 $65.5 0.02 %
BQRS, Inc. DBA Gresham Meineke Car Care Center(#,^)18081 SE Division St, Portland, OR 97236Repair and MaintenanceTerm Loan0%6/30/2027$47.4 $47.4 $46.4 0.01 %
128
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Best Bees Company(#,^)839 Albany St, Boston, MA 02119Animal Production and AquacultureTerm LoanPrime plus 2.75%6/29/2027$13.2 $13.2 $13.8 — %
Stiegelbauer Associates Inc.(#,^)63 Flushing Ave, Unit 101, Building 280, Brooklyn, NY 11205Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/2027$181.1 $181.1 $191.7 0.05 %
Oakhill Farms, LLC(#,^)15 Carl St, Johnston, RI 02919Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/2030$71.7 $71.7 $78.5 0.02 %
Intellixion LLC(#,^)7447 Egan Dr, Ste 110 A, Savage, MN 55378Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/29/2027$2.2 $2.2 $2.3 — %
Malhame & Company Publishers & Importers Inc.(#,^)180 Orville Rd, Bohemia, NY 11780Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/29/2027$58.2 $58.2 $60.7 0.02 %
Ocean Trans LLC and Dehal Trucking LLC(#,^)760 W. Charter Way, Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%6/29/2027$360.7 $360.7 $375.7 0.10 %
Foxhop Fitness, LLC(#,^)4211 NW Federal Hwy, Jensen Beach, FL 34957Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/28/2027$53.4 $53.4 $55.8 0.01 %
Old Dominion Transportation Group, Inc.(#,^)2510 Hunters Place, Ste 202, Woodbridge, VA 22192Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/28/2027$729.6 $729.6 $762.3 0.19 %
Auxiliary Systems Inc.,Sharrick Company, LLC & KMN, LLC(#,^)211 East 25th St, Norfolk, VA 23504Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%6/27/2030$176.1 $176.1 $192.3 0.05 %
Ains Holding Company, LLC(#,^)122 West 26th St, New York, NY 10001Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/2027$811.1 $811.1 $847.3 0.21 %
Vella Construction Enterprises, Inc. dba Vella Construction(#,^)318 28th Ave, San Mateo, CA 94403Construction of BuildingsTerm LoanPrime plus 2.75%6/23/2027$13.2 $13.2 $13.8 — %
Northern Industries, LLC(#,^)W 5585 Dehart Dr, Tomahawk, WI 54484Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/23/2042$53.2 $53.2 $60.1 0.02 %
Scarlet Spartan Inc.dba FastSigns of Brighton(#,^)533 W. Grand River Ave, Brighton, MI 48116Administrative and Support ServicesTerm LoanPrime plus 2.75%6/19/2027$6.6 $6.6 $6.9 — %
Don G. Timpton DDS & Associates PA and Indsaad Properties,LLC(#,^)11535 Carmel Commons Blvd. Ste 200, Charlotte, NC 28226Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/16/2042$363.2 $363.2 $410.0 0.10 %
JAM Media Solutions, LLC(#,^)4744 Tackawanna St, Philadelphia, PA 19124Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/15/2027$22.3 $22.3 $23.3 0.01 %
All Regional Recyclers of Wood LLC dba ARROW,Superior Carting,LLC(#,^)104 Wooster St, Bethel, CT 06801Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/15/2042$281.8 $281.8 $318.2 0.08 %
ESA 365 Corp and Lucathor Realty LLC(#,^)2420 Grand Ave, Baldwin, NY 11520Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/14/2042$20.4 $20.4 $23.1 0.01 %
Susan Hughes dba Aloha Junction B and B(#,^)19-4037 Olapalapa Rd, Volcano, HI 96785AccommodationTerm LoanPrime plus 2.75%6/14/2042$55.9 $55.9 $63.2 0.02 %
Hull's Kitchen, LLC and HK Too, LLC(#,^)19 Hull Shore Dr, Hull, MA 02045Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/14/2042$91.1 $91.1 $102.8 0.03 %
Tele Tax Express Inc., El Rancho Paiso, LLC and Nestor Romero(#,^)577 Main Ave, Paterson, NJ 07055Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/2042$83.9 $83.9 $94.8 0.02 %
129
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Refoleen Inc dba Spice and Tea Exchange(#,^)849 E Commerce St Ste 121, San Antonio, TX 78205Food and Beverage Stores Term LoanPrime plus 2.75%6/8/2027$2.1 $2.1 $2.2 — %
SCW, LLC dba Arthur Murray Dance Studio(#,^)2383 Old Dixwell Ave, Hamden, CT 06518Educational ServicesTerm LoanPrime plus 2.75%6/2/2042$132.5 $132.5 $149.6 0.04 %
Skydive California, LLC(#,^)25001 S Kasson Rd, Tracy, CA 95301Educational ServicesTerm LoanPrime plus 2.75%6/2/2027$32.2 $32.2 $34.0 0.01 %
Speaker City, Inc.and Speaker Town, LLC dba Rollin Thunder(#,^)246 East Belt Blvd, Richmond, VA 23224Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/1/2042$41.4 $41.4 $46.7 0.01 %
Funtime, LLC and Universal Entertainment Group LLC(#,^)13200 W. Foxfire Dr #144, Surprise, AZ 85387Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/31/2027$47.9 $47.9 $50.0 0.01 %
Ricnet III, Inc. dba Edible Arrangements(#,^)716 Foxcroft Ave, Martinsburg, WV 25401Food and Beverage Stores Term LoanPrime plus 2.75%5/31/2027$8.5 $8.5 $8.9 — %
Haroon Baig,Inc.dba US1 Petrol(#,^)1280-1290 Dixwell Ave, Hamden, CT 06514Gasoline Stations Term LoanPrime plus 2.75%5/31/2042$239.1 $239.1 $270.0 0.07 %
Sage Oil LLC(#,^)8913 Egyptian Ave, Las Vegas, NV 89143Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%5/31/2027$13.1 $13.1 $13.6 — %
Chet Lemon Enterprises LLC dba All American Sports(#,^)1544 Ln Park Cutoff, Tavares, FL 32778Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/26/2042$718.9 $718.9 $811.6 0.21 %
Swantown Inn & Spa LLC(#,^)1431 11th Ave SE, Olympia, WI 98501AccommodationTerm LoanPrime plus 2.75%5/26/2042$115.1 $115.1 $130.0 0.03 %
Eagle Wood Works LLC(#,^)1448 Horsehead Rd, Lugoff, SC 29078Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%5/26/2027$6.9 $6.9 $7.3 — %
Hurricane Group, Inc.(#,^)1357 Ashford Ave Ste 429, San Juan, PR 09070Other Information ServicesTerm LoanPrime plus 2.75%5/26/2027$50.2 $50.2 $52.3 0.01 %
Abdul Naushad MD PC dba Advanced Pain Centers(#,^)2865 James Blvd, Poplar Bluff, MO 63901Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/25/2042$372.3 $372.3 $420.4 0.11 %
Beyond Waves A Unique Salon LLC and Lori Ann Carlson(#,^)2290 Foxon Rd Route 80, North Branford, CT 06471Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/2027$1.0 $1.0 $1.0 — %
Locavore LLC dba Paloma Restaurant(#,^)401 S. Guadalupe St, Santa Fe, NM 87501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/25/2027$29.0 $29.0 $30.4 0.01 %
Innovim, LLC(#,^)6401 Golden Triangle Dr Ste 200, Greenbelt, MD 20770Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/24/2027$168.3 $168.3 $175.3 0.04 %
Hayden Trucking LLC(#,^)11540 Eagle Vista Dr, Fort Worth, TX 76179Truck TransportationTerm LoanPrime plus 2.75%5/19/2027$84.0 $84.0 $88.9 0.02 %
Iron Men Home Repair, Inc. and Ironmen House Lifting Inc.(#,^)132 North Wellwood Ave, Lindenhurst, NY 11757Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/19/2042$527.6 $527.6 $595.7 0.15 %
Tres K Deli,Grocery,Fruit and Meat Inc.(#,^)125 West Tremont Ave, Bronx, NY 10453Food and Beverage Stores Term LoanPrime plus 2.75%5/19/2027$4.8 $4.8 $5.0 — %
Mr. B's Bicycles & Mopeds, Inc.(#,^)1870 S. 4th Ave, Yuma, AZ 85364Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%5/18/2042$132.9 $132.9 $150.1 0.04 %
Waterford Plumbing Co, Inc.(#,^)2425 W. Cuyler Ave, Chicago, IL 60618Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/18/202729.0 29.0 30.3 0.01 %
130
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Bay Car Wash LLC(#,^)952 South Commercial St and West Magnolia, Aransas Pass, TX 78336Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/2042109.5 109.5 123.7 0.03 %
Computech Computers Inc.(#,^)40-24 76th St, Office #2B, Elmhurst, NY 11373Educational ServicesTerm LoanPrime plus 2.75%5/17/202729.1 29.1 30.3 0.01 %
Arco Electrical Contractors Inc. dba Arco Construction Group(#,^)22-24 South Seventh St, Elizabeth, NJ 07202Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/16/2027202.8 202.8 213.4 0.05 %
5 Stars Learning Center Inc(#,^)14 Paine Ave, Irvington, NJ 07111Social AssistanceTerm LoanPrime plus 2.75%5/16/204255.9 55.9 63.1 0.02 %
B G F Bobby Q's Inc(#,^)447 N. Main St, Freeport, NY 11520Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/11/20274.4 4.4 4.6 — %
NHS, LLC(#,^)212 N Douglas Ave, Ellsworth, KS 67439Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%5/9/202751.4 51.4 53.9 0.01 %
NHS, LLC(#,^)212 N Douglas Ave, Ellsworth, KS 67439Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%5/9/204219.8 19.8 22.4 0.01 %
Innovation Transport, LLC(#,^)1 International Blvd, Mahwah, NJ 07495Truck TransportationTerm LoanPrime plus 2.75%5/9/202745.9 45.9 48.6 0.01 %
Benchmark Building, Inc.(#,^)1439 Stargazer Terrace, Sanford, FL 32771Construction of BuildingsTerm LoanPrime plus 2.75%5/5/20275.2 5.2 5.4 — %
Cable Management LLC(#,^)290 Pratt St, Meriden, CT 06450Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/3/202733.3 33.3 35.2 0.01 %
Fine Arts Center of Easley, Inc. dba Midtown Music(#,^)117 S. Pendleton St, Easley, SC 29640Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%5/2/2042108.1 108.1 122.1 0.03 %
Love and Glory Learning Center, Inc.(#,^)4911 N. 42nd St., Tampa, FL 33610Social AssistanceTerm LoanPrime plus 2.75%4/28/204270.5 70.5 79.6 0.02 %
Sneads Ferry Foods, Inc. dba DQ Grill & Chill(#,^)920 Hwy 210, Sneads Ferry, NC 28460Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/2042589.6 589.6 665.7 0.17 %
JMA Inc. dba Primecut and Mezzo; Primecut at Marquee(#,^)393 Charles St, Providence, RI 02904Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/2042200.5 200.5 226.4 0.06 %
Getting Even LLC dba The Zoo Health Club(#,^)377 South Willow St, Ste B 2-1, Manchester, NH 03103Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/21/20274.3 4.3 4.5 — %
Ralph's Hair Salon, Inc.(#,^)175 NW 14th St, Homestead, FL 33030Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/21/204245.2 45.2 51.0 0.01 %
Condron Brothers LLC DBA Luv 2 Play(#,^)4790 La Sierra Ave, Riverside, CA 92505Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/19/202768.4 68.4 71.8 0.02 %
The Altitude Group, LLC and Core Home Security, LLC(#,^)949 Clint Moore Rd, Unit 949A, Boca Raton, FL 33487Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/31/202723.8 23.8 24.8 0.01 %
Bear Trail Lodge LLC(#,^)Mile 1 Bear Trail Rd, King Salmon, AK 99613Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/31/2042494.8 494.8 558.6 0.14 %
Citizens Lanes, LLC(#,^)5100 Goodson Connector Rd, Union City, GA 30291Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%3/31/2042602.2 602.2 598.0 0.15 %
131
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Landmark Ventures USA, Inc.(#,^)475 Park Ave South 25th Floor, New York, NY 10016Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/31/2027105.9 105.9 110.3 0.03 %
Golden Hen Inc. dba Cafe(#,^)468 W. Cheltenham Ave, Philadelphia, PA 19126Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/31/202736.6 36.6 38.2 0.01 %
Schafer Fisheries Inc.(#,^)21985 Waller Rd, Fulton, IL 61252Food ManufacturingTerm LoanPrime plus 2.75%3/30/2042233.9 233.9 264.1 0.07 %
Sea Smoke Barbeque, Corp and Danwen LLC(#,^)20 Island Farm Rd, Oak Bluffs, MA 02557Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/2042213.9 213.9 241.5 0.06 %
Douglas K. Soderblom .dba Loma Linda Optometry(#,^)25815 Barton Rdad, Unit C104, Loma Linda, CA 92354Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202756.5 56.5 59.2 0.01 %
Discount Price, LLC dba Robert's Market(#,^)2 Hill Rd, Franklin, NH 03235Gasoline Stations Term LoanPrime plus 2.75%3/29/2042186.6 186.6 210.7 0.05 %
H and H Hotshot Services, Inc. dba AA Hotshot & Logistics(#,^)5455 N 51st St, # 30, Glendale, AZ 85301Couriers and MessengersTerm LoanPrime plus 2.75%3/29/203055.1 55.1 59.2 0.02 %
New England Country Day School, Inc. and Thomas D. Walker(#,^)27 Kenosia Ave, Danbury, CT 06810Social AssistanceTerm LoanPrime plus 2.75%3/28/2042341.4 341.4 385.5 0.10 %
Heil & Hornik LLC dba Elysium Tennis(#,^)7637 C. Commerce Place, Plain City, OH 43064Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/27/2042840.0 840.0 948.4 0.24 %
Denton Bio Fuels LLC and American Bio Source LLC(#,^)624 W. University Dr. Ste 359, TX, TX 76201Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202736.8 36.8 38.6 0.01 %
Executive Fitness & Nutrition Inc.(#,^)8610 Roosevelt Ave Ste 2, Jackson Heights, NY 11372Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/23/202711.4 11.4 12.0 — %
Baton Rouge Cargo Services Inc. and 6507 Westport, LLC(#,^)6507 Westport Ave, Shreveport, LA 71129Truck TransportationTerm LoanPrime plus 2.75%3/22/2042577.5 577.5 652.0 0.17 %
The Purple Cow House of Pancake Inc(#,^)6 & 10 Skowhegan Rd, Fairfield, ME 04937Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/16/204260.4 60.4 68.1 0.02 %
Texcor, Inc.dba Texas Corral,Texas Coral Restaurants II, Inc. T.C.(#,^)5880 US Hwy6, Portage, IN 46368Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/16/2027187.1 187.1 197.5 0.05 %
1MTX LLC and Sunrise Transportation and Logistics, LLC and Mustafa(#,^)6510 North Broadway , Saint Louis, MO 63147Truck TransportationTerm LoanPrime plus 2.75%3/13/2027321.8 321.8 334.3 0.08 %
Dwayne Bernard Tate(#,^)1238 Woodcliff Court SW, Lilburn, GA 30047Truck TransportationTerm LoanPrime plus 2.75%3/10/20275.9 5.9 6.2 — %
Elegant Occasions, LLC dba E Productions(#,^)3650 Coral Ridge Dr Units 103-104, Coral Springs, FL 33065Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/10/2042304.8 304.8 344.1 0.09 %
Anthony LLC dba Star of Woodward Market(#,^)5730 Woodward Ave, Detroit, MI 48202Food and Beverage Stores Term LoanPrime plus 2.75%3/9/2042104.3 104.3 117.8 0.03 %
Podium Auto Sales Inc and RRS Property, LLC(#,^)246 S. Dixie Hwy, Pompano Beach, FL 33060Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/3/204282.1 82.1 92.7 0.02 %
Weeping Willow Kennels, Inc and Aileen N Black(#,^)6041 Hammond School Rd, Salisbury, MD 21804Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2042126.4 126.4 142.8 0.04 %
132
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Getting Even LLC dba The Zoo Health Club(#,^)377 South Willow St Unit B2-1, Manchester, NH 03103Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/28/202753.6 53.6 56.0 0.01 %
Teracore Inc.(#,^)3300 Holcomb Bridge Rd, Ste 226, Norcross, GA 30092Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/27/202791.1 91.1 94.7 0.02 %
McNally Enterprises Inc.(#,^)1010 N. Grove St, Anaheim, CA 92806Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/27/202735.8 35.8 37.5 0.01 %
TMJ Pizza Mesa LLC dba Rosati's Pizza Restaurant(#,^)2235 S. Power Rd Ste 118, Mesa, AZ 85209Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/24/202741.8 41.8 44.2 0.01 %
3W Enterprises LLC(#,^)2727 Industrial Pkwy, Elkhart, IN 46516Textile Product MillsTerm LoanPrime plus 2.75%2/24/204258.5 58.5 66.1 0.02 %
B & J Bicycle Shop Inc.(#,^)1620 E. Sample Rd, Pompano Beach, FL 33064Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%2/24/20273.5 3.5 3.7 — %
Baton Rouge Cargo Services Inc. and 2808 Court Street, LLC(#,^)2808 Court St, Port Allen, LA 70767Truck TransportationTerm LoanPrime plus 2.75%2/10/2042182.1 182.1 205.6 0.05 %
Marvic Enterprises Inc dba Jordan's Liquor(#,^)199 Taunton Ave, East Providence, RI 02914Food and Beverage Stores Term LoanPrime plus 2.75%2/10/2042197.8 197.8 223.3 0.06 %
Maximo Canot dba Wash and Dry Laundrymat(#,^)34 Morningside Ave, Yonkers, NY 10703Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/10/2042124.3 124.3 140.3 0.04 %
8 Minute Oil Change Auto Repair & Tire Center and Jumir L.L.C.(#,^)174-176 Mountain Ave, Springfield, NJ 07081Repair and MaintenanceTerm LoanPrime plus 2.75%2/7/2042295.9 295.9 334.0 0.08 %
DBMS Consulting, Inc.(#,^)164 West 83rd St. Units 1F/1P, New York, NY 10024Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/1/2042172.3 172.3 194.6 0.05 %
Fave Realty Inc.(#,^)1875 Grand Ave, Baldwin, NY 11510Real EstateTerm LoanPrime plus 2.75%1/30/204249.1 49.1 55.4 0.01 %
SRC Publishing LLC(#,^)8690 Waterford Bend St, Las Vegas, NV 89123Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%1/27/202712.3 12.3 12.8 — %
Rhone Wolf Vineyard LLC, Goldline Brands Inc. and Myka Cellars, Inc.(#,^)5245 Bucks Bar Rd, Placerville, CA 95667Beverage and Tobacco Product ManufacturingTerm Loan8.25%1/19/2030190.3 190.3 187.5 0.05 %
Jolibe LLC and Jolibe Atelier LLC(#,^)357 w 36th #401, New York, NY 10018Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/18/20275.8 5.8 6.0 — %
Eickmann Management Group LLC dba Jimmy Johns of Dundee(#,^)568 Techumseh St, Dundee, MI 48131Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/17/202754.6 54.6 57.7 0.01 %
Fullbro Trust dba Menemsha Blues(#,^)2 Basin Rd, Chilmark, MA 02535Miscellaneous Store Retailers Term LoanPrime plus 2.75%1/13/202712.3 12.3 13.0 — %
Metropolitan Solutions Group Inc.(#,^)1420 Chestnut St, Portsmouth, VA 23704Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/19/2041247.1 247.1 279.0 0.07 %
Sempco, Inc.(#,^)51 -55 Lake St Unit #2-6, Nashua, NH 03060Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/15/204137.7 37.7 42.6 0.01 %
133
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

New Chicago Wholesale Bakery, Inc.(#,^)795 Touhy Ave, Elk Grove Village, IL 60007Food ManufacturingTerm LoanPrime plus 2.75%12/15/2041426.1 426.1 481.0 0.12 %
Elita 7, LLC(#,^)16 Marble St, Worcester, MA 01603Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/15/2041669.5 669.5 755.8 0.19 %
Allied Welding Inc.(#,^)1820 N. Santa Fe Ave, Chillicothe, IL 61523Fabricated Metal Product ManufacturingTerm Loan5.25%12/15/2041711.0 711.0 705.0 0.18 %
Techni-Pro Institute LLC(#,^)414 NW 35th St, Boca Raton, FL 33431Educational ServicesTerm LoanPrime plus 2.75%12/15/2026102.1 102.1 107.3 0.03 %
Trison Enterprises Inc.dba Lee's Automotive(#,^)13281 Aurora Ave N, Seattle, WA 98311Repair and MaintenanceTerm LoanPrime plus 2.75%12/14/2041366.1 366.1 413.4 0.10 %
Wayfarer Bicycle LLC(#,^)118-120 Ocean Ave, New London, CT 06320Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%12/13/204183.1 83.1 93.8 0.02 %
Roast Beef Levittown LLC dba Arby's(#,^)2080 Hempstead Turnpike, East Meadow, NY 11554Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/13/2026114.2 114.2 120.6 0.03 %
Mack Team Enterprises Inc.dba The UPS Store #6815(#,^)38200 Ave of the States, Fort Gordon, GA 30905Couriers and MessengersTerm LoanPrime plus 2.75%12/9/202611.0 11.0 11.6 — %
eCommerce Direct, LLC(#,^)3440 Gannett Ave, Des Moines, IA 50321Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/2026418.4 418.4 440.0 0.11 %
Recycling Revolution,LLC(#,^)4190 Collins Rd, Unadilla, GA 31091Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/9/204180.1 80.1 90.4 0.02 %
New Life Hospital LLC(#)17400 Red Oak Dr, Houston, TX 77090HospitalsTerm LoanPrime plus 2.75%12/8/20411,095.8 1,095.8 1,237.1 0.31 %
Hanson's Greeks LLC(#,^)8132 N. 87th Place, Ste A, Scottsdale, AZ 85258Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/8/20266.0 6.0 6.4 — %
The Lake Shore Hospitality Inc dba Dowagiac Baymont Inn & Suites(#)29291 Amerihost Dr, Dowagiac, MI 49047AccommodationTerm Loan8.25%12/5/2041326.6 326.6 324.7 0.08 %
Pebble Wood Lane, LLC and Good Sam's Assisted Living Resiidence,LLC(#)1 Pebble Wood Ln, Palm Coast, FL 32164Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%11/30/204163.1 63.1 71.2 0.02 %
Quick Ship, LLC(#)448 W. 19th St, Houston, TX 77008Couriers and MessengersTerm LoanPrime plus 2.75%11/30/20265.6 5.6 5.8 — %
Imaginarium Foods LLC,(#,^)751 N. Cable Rd, Lima, OH 45805Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2042335.7 335.7 379.0 0.10 %
Access Staffing, LLC(#,^)360 Lexington Ave 8th Floor, New York, NY 10017Administrative and Support ServicesTerm LoanPrime plus 2.75%11/29/2026653.7 653.7 685.5 0.17 %
Usman Jalil, LLC dba Food Mart(#)147 N Washington St, Plainville, CT 06062Gasoline Stations Term LoanPrime plus 2.75%11/29/2041209.4 209.4 236.4 0.06 %
CRK Mens, LLC dba Spiff for Men(#,^)1335 Ave of the Americas, New York, NY 10019Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/23/202653.9 53.9 56.7 0.01 %
WPN Recycling Company LLC(#,^)5101 Andard Ave, Baltimore, MD 21226Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/23/20269.7 9.7 10.2 — %
Broms Asset Management LLC(#,^)215 East 79th St Apt 9E, New York, NY 10075Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%11/22/202666.0 66.0 69.2 0.02 %
134
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Bouquet Restaurant LLC(#,^)519 Main St, Covington, KY 41011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/22/204187.0 87.0 98.2 0.02 %
Skaggs RV Outlet LLC(#,^)301 Commerce Dr, Elizabethtown, KY 42701Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/21/202653.1 53.1 56.1 0.01 %
Catherine Christine Morin dba Purr-Fect Pets(#,^)1915 North Austin Ave, Georgetown, TX 78626Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/17/202610.0 10.0 10.4 — %
Hoosier Health Plus, LLC(#,^)520 East 8th St, Anderson, IN 46012Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/15/202646.3 46.3 48.8 0.01 %
MIK LLC dba Firehouse Subs(#,^)17250 Royalton Rd, Strongsville, OH 44136Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/2026118.4 118.4 124.2 0.03 %
Dyer Properties, LLC and Bayview Pharmacy, Inc.(#)3844 Post Rd, Warwick, RI 02886Health and Personal Care Stores Term LoanPrime plus 2.75%11/9/2041216.1 216.1 244.0 0.06 %
Fine Line Interiors, Inc.(#)2530 SW 30th Ave, Hallandale Beach, FL 33009Repair and MaintenanceTerm LoanPrime plus 2.75%11/4/204154.4 54.4 61.5 0.02 %
Glocecol LLC(#,^)10302 NW South River Dr, Bay #18, Miami, FL 33178Administrative and Support ServicesTerm LoanPrime plus 2.75%11/1/202639.8 39.8 42.0 0.01 %
Veracruz Shabo, LLC, Waterfalls Quick Lube LLC(#)1512 Atwood Ave, Johnston, RI 02919Repair and MaintenanceTerm LoanPrime plus 2.75%11/1/2041107.1 107.1 120.9 0.03 %
Moolchan Enterprises LLC dba Staying Green(#)2650 S.W. 154 Ave, Davie, FL 33331Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/20265.7 5.7 6.1 — %
Woodstock Enterprises Corp dba True Scent Candle Co(#)191 2nd Ave, Warwick, RI 02888Miscellaneous ManufacturingTerm LoanPrime plus 2.75%10/31/204179.4 79.4 89.6 0.02 %
Blakeslee Arpaia Chapman Inc and Chapman Construction Services LLC(#,^)200 North Branford Rd, Branford, CT 06405Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%10/24/2026222.1 222.1 234.5 0.06 %
Worldwide Estate, Inc. dba Washington Heights Manor(#,^)10620 W. Greenwood Terrace, Milwaukee, WI 53224Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%10/21/2041200.8 200.8 226.7 0.06 %
Gold Wind Logistics LLC(#)2830 Beech Daly Rd, Inkster, MI 48141Truck TransportationTerm LoanPrime plus 2.75%10/20/2041156.6 156.6 176.8 0.04 %
Speaker City, Inc. dba Rollin Thunder(#)246 East Belt Blvd, Richmond, VA 23224Electronics and Appliance Stores Term LoanPrime plus 2.75%10/14/2041111.9 111.9 126.3 0.03 %
Justin Partlow(#)100 Independence Place, Ste 414, Tyler, TX 75703Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%10/13/202610.2 10.2 10.7 — %
Maine Service Corp(#)59-22 55th St, Maspeth, NY 11378Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%10/13/202685.6 85.6 90.3 0.02 %
Reliable Recovery Services LLC(#)2401 West Mcdowell Rd, Phoenix, AZ 85009Support Activities for TransportationTerm LoanPrime plus 2.75%10/7/202658.8 58.8 61.9 0.02 %
Wyspen Corporation dba Charlestown Ace(#)5 Austin St, Charlestown, MA 02129Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%10/3/202618.8 18.8 19.7 — %
Ailky Corporation(#,^)352 Beford St, Lakeville, MA 02347Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%10/3/2026123.8 123.8 130.1 0.03 %
JJA Transportation Management Inc.(#)15 Church St, Upland, PA 19015Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/30/202624.4 24.4 25.6 0.01 %
135
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Seaway LLC and Reklaw LLC dba Allure Lounge(#)415 -417 Halsey Dr, Newark, NJ 07102Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2041122.4 122.4 138.2 0.04 %
Beadon Inc(#)2601 Old Ocean City Rd, Salisbury, MD 21804Food and Beverage Stores Term LoanPrime plus 2.75%9/28/202611.5 11.5 12.1 — %
CNC Precision Machine, Inc.(#)18360 Industrial Circle, Burton, OH 44021Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/28/20411,146.4 1,146.4 1,294.2 0.33 %
CD Game Exchange Inc.(#)3719 N Mississippi, Portland, OR 97227Merchant Wholesalers, Durable Goods Term Loan8.25%9/28/20262.8 2.8 2.8 — %
Ridge Road Equestrian LLC dba Ricochet Ridge Ranch(#)24201 North Hwy 1, Fort Bragg, CA 95437Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%9/26/20264.6 4.6 4.9 — %
Wrecking Crew Media LLC(#)229 Commercial Ave, Pittsburgh, PA 15212Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/21/202614.6 14.6 15.3 — %
Cuppiecakes LLC(#)313 S Main St, McGregor, TX 76557Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/21/204120.0 20.0 22.6 0.01 %
Animal Intrusion Prevention Systems Holding Company, LLC dba Critter(#)1362-1366 W. Carrier Pkwy, Grand Prairie, TX 75050Administrative and Support ServicesTerm LoanPrime plus 2.75%8/30/202668.8 68.8 72.0 0.02 %
Raem Corporation dba Dryclean Express(#)557 West Whitney Rd, Fairport, NY 14450Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/29/204164.4 64.4 72.7 0.02 %
Warren Dale Warrington dba Custom Paint and Body(#)705 S Market Ave, Fort Pierce, FL 34982Repair and MaintenanceTerm LoanPrime plus 2.75%8/26/204190.0 90.0 101.6 0.03 %
TR Companies LLC dba Liberty Rental 4 U(#)410 N Church Rd, Liberty, MO 64068Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/25/202624.9 24.9 26.1 0.01 %
Rosmel Pools Inc(#)9300 NW 25th St Ste 103, Miami, FL 33172Repair and MaintenanceTerm LoanPrime plus 2.75%8/25/20269.8 9.8 10.2 — %
Avery Management Inc. dba Whetstone Upholstery(#)1122 N Bloulevard, Richmond, VA 23230Repair and MaintenanceTerm LoanPrime plus 2.75%8/25/20265.1 5.1 5.4 — %
Grayson O Company(#)6509 Newell Ave, Kannapolis, NC 28082Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%51723$556.2 $556.2 $627.9 0.16 %
Paul Belanger dba Paul Belanger Landscaping(#)2595 Military Ave, Los Angeles, CA 90064Administrative and Support ServicesTerm LoanPrime plus 2.75%46243$7.6 $7.6 $7.9 — %
The Hungry Rhino LLC(#)47 South Main St, Windsor Locks, CT 06096Real EstateTerm LoanPrime plus 2.75%51711$67.6 $67.6 $76.3 0.02 %
USA General Investment LLC dba Braniff Paint and Body Shop(#)2290 NW 21st Terrace, Miami, FL 33142Repair and MaintenanceTerm LoanPrime plus 2.75%46232$11.1 $11.1 $11.7 — %
303 Tower Drive LLC(#)303 Tower Dr, Ste A, Middletown, NY 10941Repair and MaintenanceTerm LoanPrime plus 2.75%51711$354.8 $354.8 $400.6 0.10 %
676 Club LP dba The Green Door Tavern/The Drifter(#)676 and 678 North Orleans ST, Chicago, IL 60654Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51710$620.4 $620.4 $700.4 0.18 %
Intrepid Trinity LLC(#)680 Douglas Ave, Providence, RI 02908Nonstore Retailers Term LoanPrime plus 2.75%51710$55.4 $55.4 $62.6 0.02 %
Apple Tree NC Inc dba Williams Farm & Garden Center(#)109 Barkside Ln, New Bern, NC 28562Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%51710$309.2 $309.2 $349.1 0.09 %
136
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

EPEC Juice LLC dba Jamba Juice(#)810 Ninth St, Ste 128, Durham, NC 27705Food Services and Drinking PlacesTerm LoanPrime plus 2.75%46230$41.4 $41.4 $43.3 0.01 %
JAG Unit 1, LLC dba Arooga's Grille House and Sports Bar(#)1 West Main St, Patchogue, NY 11772Food Services and Drinking PlacesTerm LoanPrime plus 2.75%46230$65.9 $65.9 $68.9 0.02 %
My Sainath Inc dba Motel 6(#)1008 E Crest Dr, Waco, TX 76705AccommodationTerm LoanPrime plus 2.75%51704$282.5 $282.5 $319.0 0.08 %
Robert P Daniels dba Ginger and Friend's Peppermint Village Gift Shop(#)1502 Hwy 157, Mansfield, TX 76063Miscellaneous Store Retailers Term LoanPrime plus 2.75%46221$8.1 $8.1 $8.4 — %
Franklin Firm LLC dba Luv 2 Play(#,^)1310 East Stan Schleuter Loop, Killeen, TX 76542Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%51697$34.4 $34.4 $38.8 0.01 %
Martin Inventory Management LLC(#)304 1/2 Main St, Edgefield, SC 29824Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%46203$12.0 $12.0 $12.7 — %
P L H Pharmaco Inc dba Farmacia San Jose(#)149 48th St, Union City, NJ 07087Health and Personal Care Stores Term LoanPrime plus 2.75%46203$75.1 $75.1 $79.0 0.02 %
Desert Tacos LLC(#)245 East Bell Rd Ste A-2, Phoenix, AZ 85022Food Services and Drinking PlacesTerm LoanPrime plus 2.75%46203$49.4 $49.4 $52.0 0.01 %
VMA Technologies LLC(#)120 South Serenata Dr Unit 332, Ponte Vedra Beach, FL 32082Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%46203$10.9 $10.9 $11.4 — %
Corning Lumber Company Inc and Frank R Close and Son Inc(#)1314 Sixth St, Orland, CA 95963Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%47299$126.5 $126.5 $137.7 0.03 %
O.D.S. Inc dba Four Seasons Health & Racquet and Step 'N' Motion, Inc(#)626 Delsea Dr N, Glassboro, NJ 08028Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%46202$68.0 $68.0 $71.1 0.02 %
WGI, LLC dba Williams Grant Inn(#)154 High St, Bristol, RI 02809AccommodationTerm LoanPrime plus 2.75%51681$110.3 $110.3 $124.5 0.03 %
Island Time Investments, LLC dba Swantown Inn Bed & Breakfast(#)1431 11th Ave SE, Olympia, WA 98501AccommodationTerm LoanPrime plus 2.75%51676$89.6 $89.6 $101.1 0.03 %
Visual Advantage LLC dba Signs Now Perryberg(#)23248 Dunbridge Rd, Perrysburg, OH 43443Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%51675$80.7 $80.7 $91.1 0.02 %
Long Island Comedy LLC dba Governors and New York Comedy, LLC(#)90 A Division Ave, Levittown, NY 11756Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51675$173.2 $173.2 $195.5 0.05 %
Shooting Sports Academy LLC and Jetaa LLC dba Shooting Sports Academy(#,^)27 Main St, Monroe, CT 06468Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%51675$440.8 $440.8 $497.7 0.13 %
Bagelicious, LLC(#)945 S Main St, Cheshire, CT 06410Food Services and Drinking PlacesTerm LoanPrime plus 2.75%46190$26.5 $26.5 $27.7 0.01 %
Blue Eagle Transport Inc, Greeneagle Transport Inc and Golden Eagle(#)377 Boston Post Rd, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%46189$248.7 $248.7 $259.2 0.07 %
Jai-Alexia Consulting, Inc.(#)14660 Paddock Dr, Wellington, FL 33414Couriers and MessengersTerm LoanPrime plus 2.75%46188$5.7 $5.7 $6.0 — %
137
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Pumpkin Patch Child Care of Southington, LLC and Giuseppe Pugliares(#)1137 West St, Southington, CT 06489Social AssistanceTerm LoanPrime plus 2%51667$450.5 $450.5 $508.6 0.13 %
Luv 2 Play AZ LLC(#)15495 Bell Rd, Surprise, AZ 85374Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%46183$38.6 $38.6 $40.5 0.01 %
Refoleen Inc dba Spice and Tea Exchange(#)849 East Commerce St, Ste 121, San Antonio, TX 78205Food and Beverage Stores Term LoanPrime plus 2.75%46183$41.9 $41.9 $43.7 0.01 %
Larry H. Patterson and Rainbow Movers, Inc(#)2325 Hollers Ave, Bronx, NY 10475Truck TransportationTerm LoanPrime plus 2.75%46179$10.9 $10.9 $11.4 — %
AP5 LLC dba Krauser's Food Store(#)5 Pond Point Rd, Milford, CT 06460Food and Beverage Stores Term LoanPrime plus 2.75%51654$171.4 $171.4 $193.5 0.05 %
ATI Jet Inc(#)7007 Boeing Dr, El Paso, TX 79925Air TransportationTerm LoanPrime plus 2.75%46173$277.1 $277.1 $289.8 0.07 %
Angelo Faia dba AVF Construction(#,^)55 Arbour Ln, Sewell, NJ 08080Construction of BuildingsTerm LoanPrime plus 2.75%51648$88.1 $88.1 $99.5 0.03 %
Southwest Division Inc(#)2103 NE 3rd Terrace, Cape Coral, FL 33909Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%46168$3.9 $3.9 $4.1 — %
Jack Frost Firewood Inc. and David Dubinsky(#)3168 Holland Rd, Virginia Beach, VA 23453Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%51647$182.0 $182.0 $205.5 0.05 %
International Kitchen Supply LLC(#)3466 North Hwy 11, West Union, SC 29696Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%46167$117.7 $117.7 $123.1 0.03 %
Powerspec Inc(#)1 Linsley Place, Metuchen, NJ 08840Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%46166$41.4 $41.4 $43.2 0.01 %
Horseshoe Barbecue, LLC(#)6555, 6565, 6575 N. Sandario Rd, Tucson, AZ 85743Food Services and Drinking PlacesTerm LoanPrime plus 2.75%47261$4.3 $4.3 $4.6 — %
Elderfriend Inc dba Granny Nannies dba GN Live Scan(#)1499 W. Palmetto Park Rd, Ste #115, Boca Raton, FL 33486Social AssistanceTerm LoanPrime plus 2.75%46162$6.1 $6.1 $6.3 — %
Dedicated Incorporated(#)2916 North 39th St, Phoenix, AZ 85019Administrative and Support ServicesTerm LoanPrime plus 2.75%51639$41.0 $41.0 $46.3 0.01 %
FJN Catering Inc(#)106 Main St, Mineola, NY 11951Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51634$231.2 $231.2 $261.0 0.07 %
Pumpkin Patch Inc and Christine Feliciano and Antonio Feliciano(#)11 Kirby Rd, Cromwell, CT 06419Social AssistanceTerm LoanPrime plus 2.75%51633$116.9 $116.9 $132.0 0.03 %
Sabir Inc. dba Bear Diner(#)603 Pulaski Hwy, Bear, DE 19701Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51632$109.2 $109.2 $123.3 0.03 %
Marc S. Rosenberg P.C. dba Mammuth and Rosenberg(#)401 East City Ave Ste 122, Bala Cynwyd, PA 19004Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%46141$10.5 $10.5 $11.0 — %
Warner Home Comfort, LLC dba Smith Piping(#)1571 Canton Rd., NW, Carrollton, OH 44615Specialty Trade ContractorsTerm LoanPrime plus 2.75%51620$72.6 $72.6 $82.0 0.02 %
Loriet LLC(#)5001 Vivienda Way, Sarasota, FL 34235Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%46141$3.5 $3.5 $3.7 — %
Alpha Omega Trucking LLC(#)14432-52 State Line Rd, Brookings, OR 97415Truck TransportationTerm LoanPrime plus 2.75%51620$155.1 $155.1 $175.2 0.04 %
138
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Empowerschool LLC and Empower Autism Academy, LLC(#)1250 South A. W. Grimes Rd, Round Rock, TX 78665Social AssistanceTerm LoanPrime plus 2.75%51620$133.8 $133.8 $151.0 0.04 %
Hard Exercise Works Winter Park LLC(#)11551 University Blvd, Ste. 4C Building 1, Orlando, FL 32817Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%46141$19.1 $19.1 $19.9 0.01 %
Costume World Inc(#)950 South Federal Hwy, Deerfield Beach, FL 33441Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%51619$1,147.7 $1,147.7 $1,295.7 0.33 %
Accent Comfort Services, LLC(#)5035-C West W. T. Harris Blvd, Charlotte, NC 28269Specialty Trade ContractorsTerm LoanPrime plus 2.75%46138$42.2 $42.2 $44.0 0.01 %
Automotive Core Recycling, LLC and 828 Old Colony Road, LLC(#)27-29 Cooper St, Meriden, CT 06053Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%51613$220.1 $220.1 $248.5 0.06 %
AAA Mill Direct, Inc. dba Carpet Mill Outlets(#)1 North Armistead Ave, Hampton, VA 23669Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%46133$3.7 $3.7 $3.9 — %
KNS Early Learning Academy LLC(#)57 Merritt St SE, Marietta, GA 30060Social AssistanceTerm LoanPrime plus 2.75%51597$45.0 $45.0 $50.8 0.01 %
Dana A. Farley dba Independent Cabinets(#)5805 NE Minder Rd, Poulsbo, WA 98370Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%51591$56.4 $56.4 $63.7 0.02 %
Vehicle Safety Supply LLC(#)15 East 72nd St, Ste 14-H, New York, NY 10021Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%46112$7.5 $7.5 $7.8 — %
Cameo Carter, MD A Professional Corporation dba The Garden Pediatric(#)101 East Redlands Blvd., Ste 106, Redlands, CA 92373Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%46112$34.5 $34.5 $36.0 0.01 %
MTS Car Service LLC(#)9 Gibson Court Apt# 1, Norwalk, CT 06854Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%46111$4.8 $4.8 $5.0 — %
Gordon Rogers and Heidi Rogers dba Stone House Motor Inn(#)162 Danielson Pike, Foster, RI 02825AccommodationTerm LoanPrime plus 2.75%46111$10.5 $10.5 $11.0 — %
Wyldewood Cellars, Inc.(#)951 East 119th St, Mulvane, KS 67120Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%51590$919.1 $919.1 $1,037.7 0.26 %
Barrocas Gym LLC dba Snap Fitness(#)260 West Main St, Avon, CT 06001Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%46110$8.6 $8.6 $9.0 — %
Marathon Engineering Corporation(#)5615 2nd St W, Lehigh Acres, FL 33971Miscellaneous ManufacturingTerm LoanPrime plus 2.75%51588$39.5 $39.5 $44.6 0.01 %
Revolution Physical Therapy LLC dba Apex Network Physical Therapy(#)2705 Dougherty Ferry Rd Ste 104, St. Louis, MO 63122Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%46106$10.5 $10.5 $10.9 — %
ActKnowledge, Inc(#)365 5th Ave, New York, NY 10016Personal and Laundry ServicesTerm LoanPrime plus 2.75%46105$57.5 $57.5 $60.2 0.02 %
Precious Care LLC and Precious Care Management LLC(#)186-06 Union Turnpike, Fresh Meadows, NY 11364Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%46102$243.8 $243.8 $253.6 0.06 %
Kekoa Enterprises Inc dba Signarama Sandy(#)8942 South 700 East, Sandy, UT 84070Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%46099$22.8 $22.8 $23.7 0.01 %
Taylors Zinn Enterprises Inc dba Eons Auto Care Inc(#)330 West Harden St, Graham, NC 27253Repair and MaintenanceTerm LoanPrime plus 2.75%51578$71.3 $71.3 $80.5 0.02 %
139
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Brian T Rice dba BD Logging(#)800 3rd St Apt B, St Marys, WV 26170Forestry and LoggingTerm LoanPrime plus 2.75%46098$0.8 $0.8 $0.9 — %
R & D Enterprises Inc dba My Pool Man(#)291 North Texas Ave., Orlando, FL 32805Administrative and Support ServicesTerm LoanPrime plus 2.75%46096$23.0 $23.0 $23.9 0.01 %
Mustafa Inc and Raouf Properties LLC(#)3538 Pin Oak Dr, San Antonio, TX 78229Food and Beverage Stores Term LoanPrime plus 2.75%51574$65.8 $65.8 $74.3 0.02 %
Dupre Capital LLC dba Fastsigns(#)215 Quartermaster Court, Jeffersonville, IN 47130Miscellaneous ManufacturingTerm LoanPrime plus 2.75%46092$26.9 $26.9 $27.9 0.01 %
Step Up Academy of the Arts LLC(#)2558 Wigwam Pkwy Ste A, Henderson, NV 89074Educational ServicesTerm LoanPrime plus 2.75%46090$3.7 $3.7 $3.8 — %
Faith Summit Supply Inc dba Summit Supply and Summit True Value(#)8584 US Business Hwy 277, Haskell, TX 79521Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%46090$10.3 $10.3 $10.8 — %
Swerve Salon LLC(#)1419 N Wells St, Chicago, IL 60610Personal and Laundry ServicesTerm LoanPrime plus 2.75%46089$36.3 $36.3 $37.8 0.01 %
J & W Hardwood Flooring Inc(#)14967 Madison St, Brighton, CO 80602Specialty Trade ContractorsTerm LoanPrime plus 2.75%46088$3.4 $3.4 $3.6 — %
Living Essentials HVAC Corp(#)42 West St, Apt 24, Randolph, MA 02368Specialty Trade ContractorsTerm LoanPrime plus 2.75%46081$6.8 $6.8 $7.0 — %
The River Beas, LLC dba Subway and Punam Singh(#)5516 Baltimore Ave, Hyattsville, MD 20781Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51560$118.6 $118.6 $133.9 0.03 %
Drug Detection Laboratories, Inc. and Minh Tran(#)9700 Business Park Dr, Sacramento, CA 95827Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%46081$8.9 $8.9 $9.3 — %
Aaradhya LLC dba Market Square Laundry(#)7727 Crittenden St, Philadelphia, PA 19118Personal and Laundry ServicesTerm LoanPrime plus 2.75%46076$34.9 $34.9 $36.3 0.01 %
Ei3 Corporation(#)136 Summit Ave, Montvale, NJ 07645Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%46065$147.4 $147.4 $154.3 0.04 %
Jersey Shore Marina & Boat Sales, Inc.(#)841 Route 70 East, Brick, NJ 08724Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%51544$378.4 $378.4 $427.2 0.11 %
Gilmore Heights Dental Holdings, LTD and Chas Rob LLC(#)2250 Warrensville Center Rd, University Heights, OH 44118Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%47161$193.3 $193.3 $208.8 0.05 %
Dolarian Realty LLC and OV's Restaurant Inc(#)34 Old Colony Ave, East Taunton, MA 02718Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51506$59.3 $59.3 $66.9 0.02 %
Lemonberry Food Stores Inc dba Lemonberry Frozen Yogurt(#)1196 Inverness Ln, Stow, OH 44224Food and Beverage Stores Term LoanPrime plus 2.75%46020$48.7 $48.7 $51.0 0.01 %
MCF Forte LLC(#)1245 W Baseline Rd Unit 105, Mesa, AZ 85202Food Services and Drinking PlacesTerm LoanPrime plus 2.75%46020$8.1 $8.1 $8.5 — %
Panditos LLC dba White Lotus Home(#)431 Raritan Ave, Highland Park, NJ 08904Miscellaneous ManufacturingTerm LoanPrime plus 2.75%46019$6.9 $6.9 $7.2 — %
800 on the Trax LLC and Matrix Z LLC(#)800 SW 21st Terrace, Fort Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%51493$228.7 $228.7 $258.2 0.07 %
Ridge Road Equestrian LLC dba Ricochet Ridge Ranch Inc(#)24201 North Hwy 1, Fort Bragg, CA 95437Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%51493$89.4 $89.4 $100.9 0.03 %
140
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Joyce Outdoor Advertising Chicago LLC(#)2443 West 16th St, Chicago, IL 60608Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%51492$262.8 $262.8 $296.7 0.08 %
Premier Athletic Center of Ohio Inc. and Gates Investments and Wade Ga(#)8957 Kingsridge Dr, Centerville, OH 45459Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%47109$464.3 $464.3 $502.3 0.13 %
Hattingh Incorporated dba Prosthetic Care Facility(#)4415 Woodridge Pkwy, Ste 180, Leesburg, VA 20176Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%46012$7.8 $7.8 $8.1 — %
Trip Consultants U.S.A. Inc.(#)311 85th St, Brooklyn, NY 11209Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%46009$72.0 $72.0 $75.0 0.02 %
Accent Tag and Label Inc(#)2201 Rittenhouse St, Des Moines, IA 50321Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%51488$578.1 $578.1 $652.7 0.17 %
Sourceco Limited Liability Company(#)17 Palmer Ave, West Long Branch, NJ 07764Merchant Wholesalers, Nondurable Goods Term Loan6.5%46008$16.1 $16.1 $16.1 — %
JAG Unit 1, LLC(#)1 West Main St, Patchogue, NY 11772Food Services and Drinking PlacesTerm LoanPrime plus 2.75%46007$116.0 $116.0 $120.9 0.03 %
Moments to Remember USA LLC dba Retain Loyalty(#)1250 Sanders Ave SW, Massillon, OH 44646Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%46007$40.0 $40.0 $41.8 0.01 %
New York Home Health Care Equipment, LLC(#)30 Hopper St, Westbury, NY 11590Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%46007$440.4 $440.4 $460.2 0.12 %
Swalm Street LLC and New York Home Health Care Equipment LLC(#)30 Hopper St, Westbury, NY 11590Ambulatory Health Care ServicesTerm Loan7.5%51486$355.2 $355.2 $353.6 0.09 %
DC Enterprises Ltd. dba Lakeview True Value(#)318 North F St, Lakeview, OR 97630Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%46005$9.7 $9.7 $10.2 — %
Basista Family Limited Partnership and UPE, Inc.(#)3401 Brecksville Rd, Richfield, OH 44286Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%51484$298.6 $298.6 $337.1 0.09 %
DWeb Studio, Inc.(#)10800 E. Bethany Dr, Ste 275, Aurora, CO 80014Educational ServicesTerm LoanPrime plus 2.75%45986$4.8 $4.8 $5.0 — %
Ronny Ramirez RX Corp dba Naturxheal Family Pharmacy(#)3105 NW 107 Ave Ste 102, Doral, FL 33172Health and Personal Care Stores Term LoanPrime plus 2.75%45981$37.8 $37.8 $39.4 0.01 %
S.B.B. Enterprises Inc dba Williamston Hardware(#,^)139 S Putnam St, Williamston, MI 48895Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%51459$94.3 $94.3 $106.5 0.03 %
Financial Network Recovery Inc(#,^)250 E Easy St Ste 1, Simi Valley, CA 93065Administrative and Support ServicesTerm LoanPrime plus 2.75%45956$16.6 $16.6 $17.3 — %
ADMO Inc dba Mid States Equipment(#,^)16180 Westwoods Business Park, Ellisville, MO 63021Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%45938$9.3 $9.3 $9.7 — %
Barub Realty LLC and Barub LLC dba Woodlawn Cabinets(#,^)1838 Adee Ave, Baychester, NY 10469Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%51409$78.7 $78.7 $88.9 0.02 %
Binky's Vapes LLC(#,^)10539 Greenbelt Rd Ste 102, Lanham, MD 20706Miscellaneous Store Retailers Term LoanPrime plus 2.75%45930$9.1 $9.1 $9.5 — %
Prestigious LifeCare for Seniors LLC(#,^)5701 North Pine Island Rd, Tamarac, FL 33321Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%45925$4.0 $4.0 $4.1 — %
141
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Daniel W. Stark dba Mountain Valley Lodge and RV Park(#,^)223 Hwy 80, Rodeo, NM 88056AccommodationTerm LoanPrime plus 2.75%51404$11.7 $11.7 $13.2 — %
St Lawrence Hotel Corp and Oheka Catering Inc dba Quality Inn(#,^)10 West Orvis St, Massena, NY 13662AccommodationTerm LoanPrime plus 2.75%51403$541.0 $541.0 $610.8 0.15 %
Finish Strong Inc dba FASTSIGNS St Peters(#,^)98 North Hillview Dr, St Peters, MO 63376Miscellaneous ManufacturingTerm LoanPrime plus 2.75%45923$20.3 $20.3 $21.0 0.01 %
Sound Manufacturing Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%45921$20.1 $20.1 $20.9 0.01 %
MiJoy Inc dba Imo's Pizza(#,^)215 South Kirkwood Rd, Kirkwood, MO 63122Food Services and Drinking PlacesTerm LoanPrime plus 2.75%45918$3.3 $3.3 $3.5 — %
Naeem Khan LTD(#,^)260 West 36h St, New York, NY 10018Apparel ManufacturingTerm LoanPrime plus 2.75%45917$50.7 $50.7 $52.7 0.01 %
FirstVitals Health and Wellness Inc(#,^)521 Ala Moana Blvd. Ste 261, Honolulu, HI 96813Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%45915$69.9 $69.9 $72.6 0.02 %
Gardner's Wharf Holdings LLC and Gardner's Wharf Seafood Inc(#,^)170 Main St, North Kingstown, RI 02852Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%51387$121.3 $121.3 $137.0 0.03 %
Empower Autism Academy(#,^)1250 South A. W. Grimes Rd, Round Rock, TX 78664Social AssistanceTerm LoanPrime plus 2.75%51383$592.9 $592.9 $669.4 0.17 %
Elite Institute LLC dba Huntington Learning Center(#,^)13526 Village Park Dr Ste 214, Orlando, FL 32837Educational ServicesTerm LoanPrime plus 2.75%45897$6.0 $6.0 $6.2 — %
God Be Glorified Inc dba GBG Inc(#,^)40 West. 162nd St, South Holland, IL 60473Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%45889$21.0 $21.0 $21.8 0.01 %
GDP Gourmet LLC dba Joe and John's Pizza Restaurant(#,^)136 New Jersey Ave, Absecon, NJ 08201Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51367$125.1 $125.1 $141.3 0.04 %
SKJ Inc dba Subway(#,^)401 S Woodlawn Ave, Bloomington, IN 47401Food Services and Drinking PlacesTerm LoanPrime plus 2.75%45882$36.7 $36.7 $38.1 0.01 %
Free Ion Advisors LLC(#,^)322 Evandale Rd, Scarsdale, NY 10583Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%45859$24.8 $24.8 $25.8 0.01 %
Murrayville Donuts, Inc dba Dunkin' Donuts(#)2304 N College Rd, Wilmington, NC 28405Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51332$314.6 $314.6 $355.2 0.09 %
Jonathan E Nichols and Nichols Fire and Security LLC(#,^)1906 Vanderhorn Dr, Memphis, TN 38134Administrative and Support ServicesTerm LoanPrime plus 2.75%45838$28.4 $28.4 $29.6 0.01 %
Summit Beverage Group LLC(#,^)211 Washington Ave, Marion, VA 24354Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%47724$193.0 $193.0 $212.3 0.05 %
CEM Autobody LLC dba Dawn's Autobody(#,^)7 Division St, Keyport, NJ 07735Repair and MaintenanceTerm LoanPrime plus 2.75%51313$116.4 $116.4 $131.4 0.03 %
SofRep, Inc dba Force 12 Media(#,^)1357 Ashford Ave STE 429, San Juan, PR 09070Other Information ServicesTerm LoanPrime plus 2.75%45834$30.0 $30.0 $31.1 0.01 %
Jihan Inc dba ARCO AM/PM and Diana Inc dba Diana's Recycling(#,^)13886 Campo Rd, Jamul, CA 91935Gasoline Stations Term LoanPrime plus 2.75%51313$326.4 $326.4 $368.6 0.09 %
TJU-DGT Inc dba The Lorenz Cafe(#,^)714-718 Lorenz Ave, Pittsburgh, PA 15220Food Services and Drinking PlacesTerm LoanPrime plus 2.75%47295$12.7 $12.7 $13.8 — %
142
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Wolf Enviro Interests, LLC and Enviromax Services Inc(#,^)18002 Mueschke Rd, Cypress, TX 77433Administrative and Support ServicesTerm LoanPrime plus 2.75%51312$211.7 $211.7 $239.1 0.06 %
Evinger PA One, Inc. dba Postal Annex, Falcon(#,^)7661 McLaughlin Rd, Falcon, CO 80831Miscellaneous Store Retailers Term LoanPrime plus 2.75%45832$8.5 $8.5 $8.8 — %
RJI Services, Inc.(#,^)353 E Angeleno Ste G, Burbank, CA 91502Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%45831$8.5 $8.5 $8.8 — %
Real Help LLC dba Real Help Decorative Concrete(#,^)2221 Broadway St, Buffalo, NY 14212Administrative and Support ServicesTerm LoanPrime plus 2.75%45830$20.0 $20.0 $20.8 0.01 %
KRN Logistics, LLC and Newsome Trucking, Inc(#)2262 Hwy 53 W, Jasper, GA 30143Truck TransportationTerm LoanPrime plus 2.75%45827$46.3 $46.3 $48.1 0.01 %
AM PM Properties, LLC and AM PM Willington, LLC(#,^)1308 Stafford Rd, Storrs Mansfield, CT 06268Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51304$74.6 $74.6 $84.2 0.02 %
Mirage Plastering Inc and Mpire LLC and Mpire II LLC(#,^)1802 W Grant Rd Ste 114, Tucson, AZ 85745Specialty Trade ContractorsTerm LoanPrime plus 2.75%51299$119.2 $119.2 $134.6 0.03 %
Eldredge Tavern LLC dba Gonyea's Tavern(#,^)150 Main St, Pascoag, RI 02859Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51295$48.3 $48.3 $54.6 0.01 %
ViAr Visual Communications, Inc. dba Fastsigns 281701(#,^)4721 University Way NE, Seattle, WA 98105Miscellaneous ManufacturingTerm LoanPrime plus 2.75%45813$23.4 $23.4 $24.2 0.01 %
Medworxs LLC(#,^)10901 W. Toller Dr, Littleton, CO 80127Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%45811$47.2 $47.2 $48.9 0.01 %
DTM Parts Supply Inc.(#)31 Sageman St, Mount Vernon, NY 10550Merchant Wholesalers, Durable Goods Term Loan7%45810$31.1 $31.1 $30.9 0.01 %
XCESSIVE THROTTLE, INC dba Jake's Roadhouse(#,^)5980 Lamar St, Arvada, CO 80003Food Services and Drinking PlacesTerm LoanPrime plus 2.75%45806$3.0 $3.0 $3.1 — %
Douglas Posey and Sally Watkinson dba Audrey's Farmhouse(#,^)2188 Brunswyck Rd, Wallkill, NY 12589AccommodationTerm LoanPrime plus 2.75%51276$149.2 $149.2 $168.5 0.04 %
15 McArdle LLC and No Other Impressions Inc(#,^)15 McArdle St, Rochester, NY 14611Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%51271$157.8 $157.8 $178.1 0.05 %
South Park Properties LLC and Midlothian Hardware LLC(#,^)4751 147th St, Midlothian, IL 60445Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%51262$40.9 $40.9 $46.2 0.01 %
Matthew Taylor and Landon Farm LLC(#)6103 N Church St, Greensboro, NC 27455Personal and Laundry ServicesTerm LoanPrime plus 2.75%51260$86.1 $86.1 $97.2 0.02 %
Cares Inc dba Dumpling Grounds Day Care Center(#,^)4508 Blakiston St, Philadelphia, PA 19136Social AssistanceTerm LoanPrime plus 2.75%51257$69.4 $69.4 $78.4 0.02 %
Diamond Solutions LLC(#,^)7845 East Evans Rd. Ste A, Scottsdale, AZ 85260Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%45768$6.9 $6.9 $7.1 — %
Faramarz Nikourazm dba Car Clinic Center(#,^)10707 Shady Trail, Dallas, TX 75220Repair and MaintenanceTerm LoanPrime plus 2.75%51229$62.8 $62.8 $70.9 0.02 %
Copper Beech Financial Group LLC(#,^)1223 North Church St, Moorestown, NJ 08057Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%45746$43.6 $43.6 $45.3 0.01 %
Sunset Marine Resort LLC and GoXpeditions LLC and Lavon Gomes and Trac(#,^)40 Buzzard Ridge Rd, Sequim, WA 98382AccommodationTerm LoanPrime plus 2.75%51222$257.3 $257.3 $290.4 0.07 %
143
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Shorr Enterprises Inc dba New Design Furniture Manufacturers(#,^)3033 NW 28 St, Lauderdale Lakes, FL 33311Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%45743$37.2 $37.2 $38.5 0.01 %
Shellhorn and Hill Inc dba Total Fleet Service(#,^)501 South Market St, Wilmington, DE 19801Nonstore Retailers Term LoanPrime plus 2.75%51222$417.0 $417.0 $470.8 0.12 %
Joyce Outdoor Advertising NJ LLC and Joyce Outdoor Advertising LLC(#,^)800 James Ave, Scranton, PA 18510Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%51221$46.0 $46.0 $52.0 0.01 %
Zero-In Media Inc(#,^)1123 Broadway Ste 704, New York, NY 10010Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%45741$7.8 $7.8 $8.1 — %
Loriet LLC(#,^)5001 Vivienda Way, Sarasota, FL 34235Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%3/24/2025$4.2 $4.2 4.3 0.00 %
Jaymie Hazard dba Indigo Hair Studio and Day Spa(#,^)2016 Warwick Ave, Warwick, RI 02889Personal and Laundry ServicesTerm LoanPrime plus 2.75%51215$37.0 $37.0 $41.7 0.01 %
Shelton Incorporated dba Mrs. Winners(#,^)4509 N. Henry Blvd., Stockbridge, GA 30281Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51215$95.9 $95.9 $108.3 0.03 %
R & R Security and Investigations Inc dba Pardners Lake Buchanan(#,^)15615 State Route 29, Buchanan Dam, TX 78609Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51214$72.7 $72.7 $82.1 0.02 %
MMS Realty, LLC and Molecular MS Diagnostics LLC(#,^)1224 Greenwich Ave, Warwick, RI 02886Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%51213$129.5 $129.5 $146.2 0.04 %
Royal Crest Motors LLC(#,^)769 Amesbury Rd, Haverhill, MA 01830Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%51211$77.8 $77.8 $87.8 0.02 %
Luigi's on Main LLC and Luigi's Main Street Pizza Inc(#,^)491 Montauk Hwy, Eastport, NY 11941Food Services and Drinking PlacesTerm LoanPrime plus 2.75%45720$3.9 $3.9 $4.1 — %
Pace Motor Lines, Inc.(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Truck TransportationTerm LoanPrime plus 2.75%45714$22.1 $22.1 $22.8 0.01 %
Kingseal LLC dba Desoto Health and Rehab Center(#,^)475 Nursing Home Dr, Arcadia, FL 34266Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%51192$1,086.5 $1,086.5 $1,226.6 0.31 %
Kiddie Steps 4 You Inc.(#,^)1700 West 63rd St., Chicago, IL 60636Social AssistanceTerm LoanPrime plus 2.75%51185$52.5 $52.5 $59.3 0.02 %
Grand Blanc Lanes, Inc. and H, H and H, LLC(#,^)5301 S Saginaw Rd, Flint, MI 48507Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%51135$99.9 $99.9 $112.8 0.03 %
First Prevention and Dialysis Center, LLC(#,^)17940 NW 27th Ave, Miami Gardens, FL 33056Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%45656$87.6 $87.6 $90.8 0.02 %
Bowlerama Inc(#,^)3031 New Castle Ave, New Castle, DE 19720Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%51128$1,066.0 $1,066.0 $1,203.5 0.31 %
The Lodin Group LLC and Lodin Health Imaging Inc dba Highlands Breast(#,^)114-115 Medical Center Ave, Sebring, FL 33870Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%51127$469.5 $469.5 $530.0 0.13 %
144
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Will Zac Management LLC dba Papa John's(#)2410 West Jefferson St, Ste B, Joliet, IL 60435Food Services and Drinking PlacesTerm Loan6.25%45645$22.5 $22.5 $22.4 0.01 %
The Jewelers Inc. dba The Jewelers of Las Vegas(#,^)2400 Western Ave, Las Vegas, NV 89102Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%45645$393.8 $393.8 $406.9 0.10 %
B.S. Ventures LLC dba Dink's Market(#,^)48649 Hwy 58, Oakridge, OR 97463Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%51123$45.5 $45.5 $51.3 0.01 %
B & W Towing, LLC and Boychucks Fuel LLC(#,^)701 Addison Rd, Painted Post, NY 14870Repair and MaintenanceTerm LoanPrime plus 2.75%51121$135.0 $135.0 $152.4 0.04 %
Kemmer LLC and Apples Tree Top Liquors LLC(#,^)1300 S Jackson St, Salem, IN 47167Food and Beverage Stores Term LoanPrime plus 2.75%51108$116.8 $116.8 $131.9 0.03 %
Teamnewman Enterprises LLC dba Newmans at 988 and John H. Newman(#,^)988 Hemlock St, Cannon Beach, OR 97110Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51099$99.7 $99.7 $112.5 0.03 %
Legacy Estate Planning Inc dba American Casket Enterprises(#,^)2176 Route 119 North, Greensburg, PA 15601Personal and Laundry ServicesTerm LoanPrime plus 2.75%45617$13.5 $13.5 $13.9 — %
DC Real LLC and DC Enterprises LTD dba Lakeview True Value(#,^)318 North F St, Lakeview, OR 97630Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%51094$101.2 $101.2 $114.2 0.03 %
Heartland American Properties LLC and Skaggs RV Outlet LLC(#,^)301 Commerce Dr, Elizabethtown, KY 42701Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%51074$402.5 $402.5 $454.5 0.12 %
DNT Storage and Properties LLC(#,^)38 Old National Pike, West Alexander, PA 15376Real EstateTerm LoanPrime plus 2.75%51053$85.6 $85.6 $96.6 0.02 %
Sound Manufacturing Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%45575$54.6 $54.6 $56.4 0.01 %
Doctors Express Management of Central Texas LLC(#,^)3614 SW HK Dodgen Loop, Ste F, Temple, TX 76504Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%45573$1.9 $1.9 $2.0 — %
Michael Rey Jr. and Lynn J. Williams and GIG Petcare dba Hickory(#,^)900 Alpine Rd, Bridgeville, PA 15017Personal and Laundry ServicesTerm LoanPrime plus 2.75%51046$103.5 $103.5 $116.9 0.03 %
Roccos LLC and Sullo Pantalone Inc dba Rocco's(#,^)79 Beach Rd Units B13 and B14, Vineyard Haven, MA 02568Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51043$214.6 $214.6 $242.3 0.06 %
Gordon E Rogers dba Stonehouse Motor Inn(#,^)162 Danielson Pike, Foster, RI 02825AccommodationTerm LoanPrime plus 2.75%51039$48.2 $48.2 $54.5 0.01 %
145
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Andrene's LLC dba Andrene's Caribbean Soul Food Carry Out(#,^)308 Kennedy St NW, Washington, DC 20011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%45558$2.3 $2.3 $2.3 — %
Tavern Properties LLC and Wildwood Tavern LLC(#,^)6480 West Touhy Ave, Niles, IL 60714Food Services and Drinking PlacesTerm LoanPrime plus 2.75%51028$359.3 $359.3 $405.7 0.10 %
Animal Intrusion Prevention Systems Holding Company, LLC(#,^)3330 N Beach St, Fort Worth, TX 76111Administrative and Support ServicesTerm LoanPrime plus 2.75%45550$88.0 $88.0 $90.6 0.02 %
B&P Diners LLC dba Engine House Restaurant(#,^)71 Lafayette St, Salem, MA 01970Food Services and Drinking PlacesTerm LoanPrime plus 2.75%45545$23.3 $23.3 $24.0 0.01 %
Alpha Preparatory Academy LLC(#,^)4462 Mink Livsey Rd, Snellville, GA 30039Social AssistanceTerm LoanPrime plus 2.75%50997$122.0 $122.0 $137.8 0.03 %
Hamer Road Auto Salvage, LLC and Scott T. Cook and Nikki J. Cook(#,^)10463 Hamer Rd, Georgetown, OH 45121Motor Vehicle and Parts Dealers Term Loan6%50990$115.4 $115.4 $114.9 0.03 %
575 Columbus Avenue Holding Company, LLC and LA-ZE LLC(#,^)575 Columbus Ave, New Haven, CT 06519Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50981$17.0 $17.0 $19.2 — %
Honeyspot Investors LLP and Pace Motor Lines Inc(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Truck TransportationTerm LoanPrime plus 2.75%50975$124.9 $124.9 $141.0 0.04 %
Honeyspot Investors LLP and Pace Motor Lines Inc(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Truck TransportationTerm LoanPrime plus 2.75%50951$727.9 $727.9 $821.9 0.21 %
Lisle Lincoln II Limited Partnership dba Lisle Lanes LP(#,^)4920 Lincoln Ave Route 53, Lisle, IL 60532Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%45473$25.5 $25.5 $26.3 0.01 %
Nikobella Properties LLC and JPO Inc dba Village Car Wash(#,^)1372 South US Route 12, Fox Lake, IL 60020Repair and MaintenanceTerm LoanPrime plus 2.75%50946$424.1 $424.1 $478.8 0.12 %
Big Sky Plaza LLC and Strickland, Incorporated dba Livingston True Val(#,^)1313 West Park St #1, Livingston, MT 59047Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%50941$194.2 $194.2 $219.3 0.06 %
Sico & Walsh Insurance Agency Inc and The AMS Trust(#,^)106 Concord Ave, Belmont, MA 02478Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%50927$77.1 $77.1 $87.1 0.02 %
Sujata Inc dba Stop N Save Food Mart and Dhruvesh Patel(#,^)15637 St Clair Ave, Cleveland, OH 44110Food and Beverage Stores Term LoanPrime plus 2.75%45446$4.3 $4.3 $4.4 — %
Long Island Barber Institute Inc(#,^)266 Greenwich St, Hempstead, NY 11550Educational ServicesTerm LoanPrime plus 2.75%50923$46.2 $46.2 $52.1 0.01 %
Pocono Coated Products, LLC(#,^)100 Sweetree St, Cherryville, NC 28021Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%45442$5.6 $5.6 $5.8 — %
Jonesboro Health Food Center LLC(#,^)1321 Stone St, Jonesboro, AR 72401Health and Personal Care Stores Term LoanPrime plus 2.75%45439$15.9 $15.9 $16.3 — %
The River Beas LLC and Punam Singh(#,^)11704 Centurion Way, Potomac, MD 20854Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50898$74.9 $74.9 $84.6 0.02 %
AS Boyals LLC dba Towne Liquors(#,^)117 South Broad St, Woodbury City, NJ 08096Food and Beverage Stores Term LoanPrime plus 2.75%50889$90.1 $90.1 $101.7 0.03 %
146
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Gerami Realty, LC ,Sherrill Universal City Corral, LP dba Golden(#,^)2301 Pat Booker Rd, Universal City, TX 78148Food Services and Drinking PlacesTerm LoanPrime plus 2.75%46500$41.1 $41.1 $43.8 0.01 %
Island Wide Realty LLC and Long Island Partners, Inc. dba Realty Exec(#,^)201-203-205 West Merrick Rd, Valley Stream, NY 11580Real EstateTerm LoanPrime plus 2.75%50882$85.8 $85.8 $96.8 0.02 %
Wilshire Media Systems Inc(#,^)2649 Townsgate Rd. Ste 500, Westlake Village, CA 91361Specialty Trade ContractorsTerm LoanPrime plus 2.75%45399$43.4 $43.4 $44.5 0.01 %
1899 Tavern & Tap LLC and Ale House Tavern & Tap LLC(#,^)1899 State Route 35, South Amboy, NJ 08879Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50869$92.8 $92.8 $104.7 0.03 %
636 South Center Holdings, LLC and New Mansfield Brass and Aluminum Co(#,^)636 South Center St, New Washington, OH 44854Primary Metal ManufacturingTerm LoanPrime plus 2.75%50849$65.8 $65.8 $74.3 0.02 %
Cormac Enterprises and Wyoming Valley Beverage Incorporated(#,^)63 S Wyoming Ave, Edwardsville, PA 18704Food and Beverage Stores Term LoanPrime plus 2.75%50849$91.4 $91.4 $103.1 0.03 %
R & R Boyal LLC dba Cap N Cat Clam Bar and Little Ease Tavern(#,^)3111 and 3135 Delsea Dr, Franklinville, NJ 08322Food and Beverage Stores Term LoanPrime plus 2.75%50829$343.7 $343.7 $388.0 0.10 %
Summit Beverage Group LLC(#,^)211 Washington Ave, Marion, VA 24354Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%45350$77.4 $77.4 $79.2 0.02 %
952 Boston Post Road Realty, LLC and HNA LLC dba Styles International(#,^)952 Boston Post Rd, Milford, CT 06460Personal and Laundry ServicesTerm LoanPrime plus 2.75%50829$170.3 $170.3 $192.3 0.05 %
Faith Memorial Chapel LLC(#,^)600 9th Ave North, Bessemer, AL 35020Personal and Laundry ServicesTerm LoanPrime plus 2.75%50829$176.1 $176.1 $198.8 0.05 %
96 Mill Street LLC, Central Pizza LLC and Jason Bikakis George Bikaki(#,^)96 Mill St, Berlin, CT 06037Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50813$115.9 $115.9 $130.8 0.03 %
JWB Industries, Inc. dba Carteret Die Casting(#,^)74 Veronica Ave, Somerset, NJ 08875Primary Metal ManufacturingTerm LoanPrime plus 2.75%45333$61.8 $61.8 $63.3 0.02 %
986 Dixwell Avenue Holding Company, LLC and Mughali Foods, LLC(#,^)986 Dixwell Ave, Hamden, CT 06510Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50808$81.9 $81.9 $92.5 0.02 %
Sarah Sibadan dba Sibadan Agency(#,^)102-05 101st Ave, Ozone Park, NY 11416Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%50797$106.2 $106.2 $119.8 0.03 %
Icore Enterprises Inc dba Air Flow Filters Inc(#,^)151 W 24th St, Hialeah, FL 33010Miscellaneous ManufacturingTerm LoanPrime plus 2.75%45306$4.6 $4.6 $4.7 — %
Nutmeg North Associates LLC, Steeltech Building Products Inc(#,^)636 Nutmeg Rd North, South Windsor, CT 06074Construction of BuildingsTerm LoanPrime plus 2.75%50770$749.1 $749.1 $845.7 0.21 %
KK International Trading Corporation(#,^)219 Lafayette Dr, Syosset, NY 11791Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%47110$105.7 $105.7 $114.5 0.03 %
Kurtis Sniezek dba Wolfe's Foreign Auto(#,^)712 5th St, New Brighton, PA 15066Repair and MaintenanceTerm LoanPrime plus 2.75%50759$72.7 $72.7 $82.1 0.02 %
920 CHR Realty LLC, V. Garofalo Carting Inc(#,^)920 Crooked Hill, Brentwood, NY 11717Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%50749$342.4 $342.4 $386.6 0.10 %
147
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

DKB Transport Corp(#,^)555 Water Works Rd, Old Bridge, NJ 08857Truck TransportationTerm LoanPrime plus 2.75%50744$113.5 $113.5 $128.2 0.03 %
Firm Foundations Inc David S Gaitan Jr and Christopher K Daigle(#,^)1455 S Richland Creek Rd, Sugar HIll, GA 30518Specialty Trade ContractorsTerm LoanPrime plus 2.75%50742$78.5 $78.5 $88.6 0.02 %
BVIP Limousine Service LTD(#,^)887 W Liberty, Medina, OH 44256Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%50736$62.4 $62.4 $70.4 0.02 %
AcuCall LLC(#,^)824 U.S Hwy 1, Ste 335, North Palm Beach, FL 33408Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/21/2023$3.0 $3.0 3.1 0.00 %
Kids in Motion of Springfield LLC dba The Little Gym of Springfield IL(#,^)3039-3043 Hedley, Springfield, IL 62704Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%45248$8.4 $8.4 $8.6 — %
Polpo Realty, LLC, Polpo Restaurant, LLC(#,^)554 Old Post Rd #3, Greenwich, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50715$52.2 $52.2 $58.9 0.01 %
Janice B. McShan and The Metropolitan Day School, LLC(#,^)2817 Lomb Ave, Birmingham, AL 35208Social AssistanceTerm LoanPrime plus 2.75%45230$7.6 $7.6 $7.8 — %
Master CNC Inc & Master Properties LLC(#,^)11825 29 Mile Rd, Washington, MI 48095Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%50709$485.9 $485.9 $548.6 0.14 %
1 North Restaurant Corp dba 1 North Steakhouse(#,^)322 W. Montauk Hwy, Hampton Bays, NY 11946Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50709$171.0 $171.0 $193.1 0.05 %
Mid-Land Sheet Metal Inc(#,^)125 E Fesler St, Santa Maria, CA 93454Specialty Trade ContractorsTerm LoanPrime plus 2.75%50709$112.6 $112.6 $127.2 0.03 %
Clairvoyant Realty Corp. and Napoli Marble & Granite Design, Ltd(#,^)77 Mill Rd, Freeport, NY 11520Specialty Trade ContractorsTerm LoanPrime plus 2.75%50702$119.4 $119.4 $134.8 0.03 %
Greenbrier Technical Services, Inc(#,^)407 E. Edgar Ave, Ronceverte, WV 24970Repair and MaintenanceTerm LoanPrime plus 2.75%45223$22.3 $22.3 $22.8 0.01 %
Cencon Properties LLC and Central Connecticut Warehousing Company(#,^)37 Commons Court, Waterbury, CT 06704Warehousing and StorageTerm LoanPrime plus 2.75%50678$279.6 $279.6 $315.7 0.08 %
Mitchellville Family Dentistry, Dr. Octavia Simkins-Wiseman DDS PC(#,^)12150 Annapolis Rd, Ste 301, Glenn Dale, MD 20769Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%50675$271.5 $271.5 $306.6 0.08 %
Anthony C Dinoto and Susan S P Dinoto and Anthony C Dinoto Funeral (#,^)17 Pearl St, Mystic, CT 06355Personal and Laundry ServicesTerm LoanPrime plus 2.75%50674$81.0 $81.0 $91.5 0.02 %
Kiddie Steps 4 You Inc.(#,^)1700 West 63rd St., Chicago, IL 60636Social AssistanceTerm LoanPrime plus 2.75%50673$73.4 $73.4 $82.9 0.02 %
Serious-Fun in Alpharetta, LLC dba The Little Gym of Alpharetta(#,^)11585 Jones Bridge Rd, Ste 4G, Johns Creek, GA 30022Educational ServicesTerm LoanPrime plus 2.75%45189$7.9 $7.9 $8.0 — %
Faith Memorial Chapel LLC(#,^)600 9th Ave North, Bessemer, AL 35020Personal and Laundry ServicesTerm LoanPrime plus 2.75%50668$217.0 $217.0 $244.9 0.06 %
Grafio Inc dba Omega Learning Center-Acworth(#,^)5330 Brookstone Dr, Ste 320, Acworth, GA 30101Educational ServicesTerm LoanPrime plus 2.75%45182$28.1 $28.1 $28.6 0.01 %
Sound Manufacturing Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%47008$29.3 $29.3 $31.7 0.01 %
148
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Prospect Kids Academy Inc(#,^)532 St Johns Place, Brooklyn, NY 11238Educational ServicesTerm LoanPrime plus 2.75%50659$100.7 $100.7 $113.7 0.03 %
Schmaltz Holdings, LLC and Schmaltz Operations, LLC dba Companio(#,^)3408 Castle Rock Farm Rd, Pittsboro, NC 27312Personal and Laundry ServicesTerm LoanPrime plus 2.75%50652$177.4 $177.4 $200.3 0.05 %
Caribbean Concepts, Inc. dba Quick Bleach(#,^)120 East 56th St, St.#730, New York, NY 10022Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%45150$3.4 $3.4 $3.5 — %
Angkor Restaurant Inc(#,^)10 Traverse St, Providence, RI 02903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50605$74.9 $74.9 $84.6 0.02 %
Harbor Ventilation Inc and Estes Investment, LLC(#,^)509 East Park St., Livingston, MT 59047Specialty Trade ContractorsTerm LoanPrime plus 2.75%50605$1.9 $1.9 $2.1 — %
Tri County Heating and Cooling Inc.(#,^)509 East Park St., Livingston, MT 59047Specialty Trade ContractorsTerm LoanPrime plus 2.75%45126$12.4 $12.4 $12.6 — %
Morning Star Trucking LLC and Morning Star Equipment and Leasing LLC(#,^)1 Poppy Ave, Neptune, NJ 07753Truck TransportationTerm LoanPrime plus 2.75%45124$8.0 $8.0 $8.1 — %
Maxiflex LLC(#,^)512 Verret St, New Orleans, LA 70114Miscellaneous ManufacturingTerm LoanPrime plus 2.75%45105$5.9 $5.9 $6.0 — %
GIA Realty LLC and VRAJ GIA LLC dba Lakeview Laundromat(#,^)411 Sharp St, Millville, NJ 08332Personal and Laundry ServicesTerm LoanPrime plus 2.75%50584$78.1 $78.1 $88.2 0.02 %
Blakeslee Arpaia Chapman, Inc. dba Blakeslee Industrial Services(#,^)200 North Branford Rd, Branford, CT 06405Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%46922$455.8 $455.8 $491.3 0.12 %
KDP LLC and KDP Investment Advisors, Inc and KDP Asset Management, Inc(#,^)24 Elm St, Montpelier, VT 05602Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%45091$47.4 $47.4 $48.1 0.01 %
Absolute Desire LLC and Mark H. Szierer and Sophisticated Smile(#,^)85 Reaville Ave, Flemington, NJ 08822Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%50561$150.9 $150.9 $170.4 0.04 %
Gregory P Jellenek OD and Associates PC dba Gregory P Jellenek OD(#,^)4640 Monticello Ave, Ste 8A, Williamsburg, VA 23188Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%45074$7.6 $7.6 $7.7 — %
Ryan D. Thornton and Thornton & Associates LLC(#,^)800 Bethel St, Ste 200, Honolulu, HI 96813Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%45070$5.3 $5.3 $5.4 — %
Peanut Butter & Co., Inc.(#,^)250 West 54th St Ste 807, New York, NY 10019Food ManufacturingTerm LoanPrime plus 2.75%45046$11.6 $11.6 $11.8 — %
1258 Hartford TPKE, LLC and Phelps and Sons, Inc(#,^)1258 Hartford Turnpike, Vernon, CT 06066Miscellaneous Store Retailers Term LoanPrime plus 2.75%50493$99.2 $99.2 $112.0 0.03 %
A & M Commerce, Inc. dba Cranberry Sunoco(#,^)398 Baltimore Blvd, Westminster, MD 21157Gasoline Stations Term LoanPrime plus 2.75%50491$258.6 $258.6 $292.0 0.07 %
Xela Pack, Inc. and Aliseo and Catherine Gentile(#,^)8300 Boettner Rd, Saline, MI 48176Paper ManufacturingTerm LoanPrime plus 2.75%46839$140.5 $140.5 $151.0 0.04 %
American Diagnostic Imaging, Inc. dba St. Joseph Imaging Center(#,^)3937 Sherman Ave, Saint Joseph, MO 64506Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%50489$449.0 $449.0 $506.9 0.13 %
149
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Sound Manufacturing, Inc. and Monster Power Equipment Inc.(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%45000$47.2 $47.2 $47.7 0.01 %
Osceola River Mill, LLC, Ironman Machine, Inc.(#,^)27 Hungerford St, Pittsfield, MA 01201Machinery ManufacturingTerm LoanPrime plus 2.75%50456$68.4 $68.4 $77.2 0.02 %
Retain Loyalty LLC(#,^)1250 Sanders Ave SW, Massillon, OH 44647Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%50451$93.6 $93.6 $105.7 0.03 %
Sherill Universal City dba Golden Corral LP(#,^)2301 Pat Booker Rd, Universal City, TX 78148Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50433$367.2 $367.2 $414.6 0.11 %
Macho LLC, Madelaine Chocolate Novelties Inc(#,^)96-03 Beach Channel Dr, Rockaway Beach, NY 11693Food ManufacturingTerm LoanPrime plus 2.75%50405$396.2 $396.2 $447.3 0.11 %
Polpo Realty LLC & Polpo Restaurant LLC(#,^)554 Old Post Rd #3, Greenwich, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50401$419.5 $419.5 $473.7 0.12 %
Richmond Hill Mini Market, LLC(#,^)101 Richmond Hill Ave, Stamford, CT 06902Food and Beverage Stores Term LoanPrime plus 2.75%50371$145.3 $145.3 $164.1 0.04 %
U & A Food and Fuel, Inc. dba Express Gas & Food Mart(#,^)1345 Wampanoag Trail, East Providence, RI 02915Gasoline Stations Term LoanPrime plus 2.75%50365$75.6 $75.6 $85.4 0.02 %
R & J Petroleum LLC, Manar USA, Inc.(#,^)305 Quincy Shore Dr, Quincy, MA 02107Gasoline Stations Term LoanPrime plus 2.75%50364$141.4 $141.4 $159.7 0.04 %
St Judes Physical Therapy P.C.(#,^)7712 Fourth Ave, Brooklyn, NY 11209Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%44884$1.2 $1.2 $1.2 — %
Hi-Def Imaging, Inc. dba SpeedPro Imaging(#,^)3580 Progress Dr, Unit Q, Bensalem, PA 19020Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%44874$1.4 $1.4 $1.4 — %
Reidville Hydraulics Mfg Inc dba Summit(#,^)175 Industrial Ln, Torrington, CT 06790Machinery ManufacturingTerm LoanPrime plus 2.75%50346$206.0 $206.0 $232.5 0.06 %
O'Rourkes Diner LLC dba O'Rourke's Diner(#,^)728 Main St, Middletown, CT 06457Food Services and Drinking PlacesTerm LoanPrime plus 2.75%50302$51.2 $51.2 $57.8 0.01 %
AJK Enterprise LLC dba AJK Enterprise LLC(#,^)1901 Naylor Rd, SE, Washington, DC 20020Truck TransportationTerm LoanPrime plus 2.75%44800$0.3 $0.3 $0.3 — %
Suncoast Aluminum Furniture, Inc(#,^)6291 Thomas Rd, Fort Myers, FL 33912Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%50269$280.6 $280.6 $316.8 0.08 %
Central Tire, Inc. dba Cooper Tire & Auto Services(#,^)1111 S Tillotson Ave, Muncie, IN 47304Repair and MaintenanceTerm LoanPrime plus 2.75%50220$222.7 $222.7 $251.5 0.06 %
Manuel P. Barrera and Accura Electrical Contractor, Inc.(#,^)6187 NW 167th St Unit H3, Miami, FL 33015Specialty Trade ContractorsTerm LoanPrime plus 2.75%46835$49.7 $49.7 $53.4 0.01 %
ATI Jet, Inc.(#,^)7007 Boeing Dr, El Paso, TX 79925Air TransportationTerm LoanPrime plus 2.75%46384$229.3 $229.3 $243.1 0.06 %
39581 Garfield, LLC and Tri County Neurological Associates, P.C.(#,^)39581 Garfield Rd, Clinton Township, MI 48038Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%49948$57.1 $57.1 $64.5 0.02 %
39581 Garfield, LLC and Tricounty Neurological Associates, P.C.(#,^)39581 Garfield Rd, Clinton Township, MI 48038Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%49948$19.4 $19.4 $21.9 0.01 %
Valiev Ballet Academy, Inc(#,^)635 - 637 Londonderry Ln, Denton, TX 76205Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%49899$31.6 $31.6 $35.7 0.01 %
150
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

LaHoBa, LLC d/b/a Papa John's(#,^)3001 Pontchartrain Dr, Slidell, LA 70458Food Services and Drinking PlacesTerm LoanPrime plus 2.75%49890$57.3 $57.3 $64.7 0.02 %
Lisle Lincoln II Limited Partnership dba Lisle Lanes LP(#,^)4920 Lincoln Ave Route 53, Lisle, IL 60532Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%49855$259.2 $259.2 $292.6 0.07 %
Lavertue Properties LLP dba Lavertue Properties(#,^)24 Wakefield St, Rochester, NH 13867Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%49855$33.1 $33.1 $37.4 0.01 %
Profile Performance, Inc. and Eidak Real Estate, L.L.C.(#,^)44600 Michigan Ave, Canton, MI 48188Repair and MaintenanceTerm LoanPrime plus 2.75%49785$93.3 $93.3 $105.4 0.03 %
Northwind Outdoor Recreation, Inc. dba Red Rock Wilderness Store(#,^)2267 Fernberg Trail, Ely, MN 55731Nonstore Retailers Term LoanPrime plus 2.75%49783$105.3 $105.3 $118.9 0.03 %
Michael S. Korfe dba North Valley Auto Repair(#,^)7516 B 2nd St, NW, Albuquerque, NM 87107Repair and MaintenanceTerm LoanPrime plus 2.75%49758$11.3 $11.3 $12.7 — %
Seagate Group Holdings, Inc. dba Seagate Logistics, Inc.(#,^)64-68 North Central Ave, Valley Stream, NY 11580Support Activities for TransportationTerm LoanPrime plus 2.75%49702$82.2 $82.2 $92.8 0.02 %
Robert F. Schuler and Lori A. Schuler dba Bob’s Service Center(#,^)2879 Limekiln Pike, Glenside, PA 19038Repair and MaintenanceTerm LoanPrime plus 2.75%49643$24.4 $24.4 $27.6 0.01 %
Rudy & Louise Chavez dba Clyde's Auto and Furniture Upholstery(#,^)2320 2nd St, Albuquerque, NM 87107Repair and MaintenanceTerm LoanPrime plus 2.75%49554$35.6 $35.6 $40.2 0.01 %
Tanner Optical Inc. dba Murphy Eye Care(#,^)305 Shirley Ave, Douglas, GA 31533Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%49482$62.7 $62.7 $70.7 0.02 %
Animal Intrusion Prevention Systems Holding Company, LLC(#,^)3330 North Beach St, Haltom City, TX 76111Administrative and Support ServicesTerm LoanPrime plus 2.75%45380$9.5 $9.5 $9.7 — %
D & D's Divine Beauty School of Esther, LLC(#,^)5524 Germantown Ave, Philadelphia, PA 19144Educational ServicesTerm Loan6%48061$36.8 $36.8 $36.7 0.01 %
Bliss Coffee and Wine Bar, LLC(#)1402-A Handlir Dr, Bel Air, MD 21015Food Services and Drinking PlacesTerm Loan6%44895$56.1 $56.1 $56.0 0.01 %
1911 East Main Street Holdings, Corp(#,^)1911 East Main St, Endicott, NY 13760Repair and MaintenanceTerm LoanPrime plus 2.75%48352$8.5 $8.5 $9.6 — %
Water Works Laundromat, LLC(#,^)968-970 Bergen St, Newark, NJ 07104Personal and Laundry ServicesTerm LoanPrime plus 2.25%46637$76.5 $76.5 $80.8 0.02 %
Dave Kris, and MDK Ram Corp.(#,^)15 Elm Park, Groveland, MA 01930Food and Beverage Stores Term LoanPrime plus 2.75%46058$13.5 $13.5 $14.1 — %
Head To Toe Personalized Pampering, Inc.(#,^)2331 North State Rd 7 Ste 123, Lauderhill, FL 33313Personal and Laundry ServicesTerm LoanPrime plus 2.75%47875$6.3 $6.3 $7.0 — %
Moonlight Multi Media Production, Inc.(#,^)2700 West Cypress Creek Rd Ste D123, Fort Lauderdale, FL 33309Other Information ServicesTerm Loan5.3%45689$0.1 $0.1 $0.1 — %
David M. Goens dba Superior Auto Paint & Body, Inc.(#)1912 Manhattan Ave, Harvey, LA 70058Repair and MaintenanceTerm Loan6%45530$5.7 $5.7 $5.7 — %
151
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)

Whirlwind Car Wash, Inc.(#,^)1370 Le Anne Marie Circle, Columbus, OH 43026Repair and MaintenanceTerm LoanPrime plus 2%47217$9.9 $9.9 $10.6 — %
Shuttle Car Wash, Inc. dba Shuttle Car Wash(#,^)745 Cheney Hwy, Ttitusville, FL 32780Repair and MaintenanceTerm LoanPrime plus 2.25%47067$4.6 $4.6 $4.9 — %
Min Hui Lin(#,^)1916 Broad St, Lanett, AL 36863Food Services and Drinking PlacesTerm LoanPrime plus 2.75%46782$10.4 $10.4 $11.2 — %
Auto Sales, Inc.(#,^)1925 State St, Hamden, CT 06417Motor Vehicle and Parts Dealers Term Loan6%45155$1.6 $1.6 $1.6 — %
Robin C. & Charles E. Taylor & Brigantine Aquatic Center LLC(#)3118 Bayshore Ave, Brigantine, NJ 08203Amusement, Gambling, and Recreation IndustriesTerm Loan6%45183$13.2 $13.2 $13.2 — %
Track Side Collision & Tire, Inc.(#,^)98-16 160 Ave, Ozone Park, NY 11414Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%45824$2.1 $2.1 $2.1 — %
Deesha Corporation, Inc. dba Best Inn & Suites(#,^)9225 Pkwy East, Birmingham, AL 35206AccommodationTerm LoanPrime plus 2.25%45702$10.5 $10.5 $10.8 — %
Randall D. & Patricia D. Casaburi dba Pat's Pizzazz(#,^)386 Winsted Rd, Torrington, CT 06790Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%44998$1.1 $1.1 $1.1 — %
Naseeb Corporation(#,^)1696 North Broad St, Meriden, CT 06450AccommodationTerm LoanPrime plus 2.25%45382$8.4 $8.4 $8.6 — %
Stillwell Ave Prep School(#,^)1990 Stillwell Ave, Brooklyn, NY 11214Social AssistanceTerm LoanPrime plus 2.75%44940$3.3 $3.3 $3.3 — %
Total SBA Unguaranteed Accrual Investments$419,824.7 $419,824.7 $434,538.1 110.14 %
152
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

D & D Optics Inc dba Sterling Optical(*,#,^)1487 East LaSalle Dr, Bismark, ND 58503Ambulatory Health Care ServicesTerm Loan6%12/21/2028$38.6 $38.6 $35.9 0.01 %
Edge Studios Inc Radiant Yoga LLC(*,#,^)448 Howe Ave, Sacramento, CA 95825Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%11/1/202749.1 49.1 47.0 0.01 %
3SIXO Motorsports LLC dba 3SIXO Motorsports Shop(*,#,^)217 W Main St, Centralia, WA 98531Motor Vehicle and Parts Dealers Term Loan7.75%1/6/202994.6 94.6 60.5 0.02 %
ABC Sandblasting, LLC(*,#,^)14029 56th St NW, Williston, ND 58801Specialty Trade ContractorsTerm Loan6%10/31/2029145.0 145.0 13.8 0.00 %
Ace Auto Recovery, Inc.(*,#,^)1209 North Ln Ave, Jacksonville, FL 32254Administrative and Support ServicesTerm LoanPrime plus 0%9/26/2043150.8 150.8 138.1 0.04 %
Acton Hardware LLC and Mark Allgood & Jamie Allgood(*,#)31814 Crown Valley Rd, Acton, CA 93510Building Material and Garden Equipment and Supplies Dealers Term Loan8%3/24/2041117.1 117.1 55.8 0.01 %
Adow Pools LLC(*,#,^)393 Glenbrook Rd, Stamford, CT 06906Personal and Laundry ServicesTerm Loan6%5/25/2028122.1 122.1 91.1 0.02 %
AJN Innovations LLC dba Burgerim(*,#,^)6704 Main St, Miami Lakes, FL 33014Food Services and Drinking PlacesTerm LoanPrime plus 0%2/15/2031109.0 109.0 74.4 0.02 %
Albas Bar & Grill LLC(*,#,^)221 Self Main St, Homer City, PA 15748Food Services and Drinking PlacesTerm Loan6%10/13/204243.9 43.9 22.9 0.01 %
Alive Design, LLC(*,#)1906 NE 23 rd Ave, Cape Coral, FL 33909Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/13/20277.4 7.4 6.9 0.00 %
All Printing Solutions, Inc. dba Pryntcomm(*,#)303 E. Sioux Ave., Pierre, SD 57501Printing and Related Support ActivitiesTerm Loan7.75%6/27/2041491.8 491.8 126.3 0.03 %
Alyssa Corp dba Knights Inn(*,#,^)1105 Columbus Pkwy, Opelika, AL 36801AccommodationTerm LoanPrime plus 0%9/30/202320.1 20.1 18.4 0.00 %
American Demolition, Inc(*,#,^)401 N Kuner Rd, Brighton, CO 80601Specialty Trade ContractorsTerm LoanPrime plus 0%6/17/2029170.4 170.4 152.6 0.04 %
Anderson Companies LLC(*,#,^)3015 S White Horse Pike, Hammonton, NJ 08037Administrative and Support ServicesTerm LoanPrime plus 0%6/28/2044183.4 183.4 168.0 0.04 %
Anglin Cultured Stone Products LLC(*,#,^)877 Salem Church Rd, Newark, DE 19702Construction of BuildingsTerm Loan8.25%12/27/2042630.5 630.5 163.8 0.04 %
Anglin Cultured Stone Products LLC dba Anglin Construction(*,#)877 Salem Church Rd, Newark, DE 19702Specialty Trade ContractorsTerm Loan8.25%6/30/2025185.8 185.8 172.9 0.04 %
Arclay ,LLC(*,#,^)49 Geyser Rd Ste 100, Saratoga Springs, NY 12866Nonmetallic Mineral Product ManufacturingTerm Loan8%5/5/2030137.1 137.1 32.4 0.01 %
Auto Shine Carwash Inc and AKM R. Hossain and Jessica F. Masud(*,#)2646 South Rd, Poughkeepsie, NY 12601Gasoline Stations Term Loan7.75%9/26/202415.3 15.3 14.3 0.00 %
B for Blonde, LLC dba Blo Blow Dry Bar(*,#)142 East 49th St, New York, NY 10017Personal and Laundry ServicesTerm Loan6%2/12/202639.7 39.7 35.6 0.01 %
B for Brunette dba Blo(*,#,^)50 Glen Cove Rd, Greenvale, NY 11548Personal and Laundry ServicesTerm Loan6%9/10/202320.5 20.5 18.3 0.00 %
D for Dream LLC dba Blo Blow Dry Bar Inc(*,#,^)460 East 3rd Ave, New York, NY 10016Personal and Laundry ServicesTerm Loan6%5/13/202966.7 66.7 57.0 0.01 %
153
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

B&B Fitness and Barbell, Inc. dba Elevations Health Club(*,#)Route 611 North P.O. Box 295, Scotrun, PA 18355Amusement, Gambling, and Recreation IndustriesTerm Loan6%6/22/20351,181.3 1,181.3 — 0.00 %
B&C Texas Leasing Inc and M&W Hot Oil, Inc.(*,#,^)8124 Sprague Rd, Odessa, TX 73764Support Activities for MiningTerm LoanPrime plus 2.75%3/30/2028645.3 645.3 127.6 0.03 %
B&C Texas Leasing Inc.,M & W Hot Oill, Inc(*,#,^)8124 Sprague Rd, Odessa, TX 79764Support Activities for MiningTerm Loan6%3/30/2043256.1 256.1 135.6 0.03 %
B4 Fitness LLC dba The Zoo Health Club(*,#)4 Beehive Dr, Epping, NH 03042Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%9/23/202611.0 11.0 9.2 0.00 %
Baker Sales, Inc. d/b/a Baker Sales, Inc.(*,#)60207 Camp Villere Rd, Slidell, LA 70460Nonstore Retailers Term Loan6%3/29/2036177.4 177.4 54.6 0.01 %
Band Sawn Lumber,LLC and Nathan Ryan Adams(*,#,^)1873 State Hwy 29, Johnstown, NY 12095Wood Product ManufacturingTerm Loan7.75%5/15/204290.0 90.0 21.7 0.01 %
BB Services, LLC(*,#,^)580 39 Rd, Palisade, CO 81526Truck TransportationTerm LoanPrime plus 0%6/27/202990.1 90.1 84.4 0.02 %
Bear Creek Entertainment LLC dba The Woods at Bear Creek(*,#,^)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm LoanPrime plus 2.75%8/12/20411,608.1 1,608.1 — 0.00 %
Bear Creek Entertainment, LLC dba The Woods at Bear Creek(*,#)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm Loan7.25%12/30/202485.4 85.4 18.2 0.00 %
Beau & HB Inc dba Beau's Billard, Bowling & Arcade(*,#,^)100 Village RD, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/16/204365.1 65.1 40.1 0.01 %
Beau & HB Inc dba Beau's Billiard, Bowling & Arcade(*,#,^)100 Village Rd, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%3/16/202932.1 32.1 10.1 0.00 %
Bev's Sweets LLC(*,#,^)3778 Hwy 254, Cleveland, GA 30528Administrative and Support ServicesTerm Loan6%9/30/2044210.5 210.5 121.6 0.03 %
Bloomquist Communications Inc.(*,#)131 East Trinity Place, Decatur, GA 30030Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%10/31/202635.1 35.1 32.8 0.01 %
Bone Bar & Grill LLC(*,#)3547 &3551 Philipsburg Bigler Hwy, West Decatur, PA 16878Food Services and Drinking PlacesTerm Loan7%6/30/204234.7 34.7 8.0 0.00 %
Bowl Mor, LLC dba Bowl Mor Lanes / Spare Lounge, Inc.(*,#)201 Highland Ave, East Syracuse, NY 13057Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%3/13/2039201.2 201.2 103.8 0.03 %
Calhoun Satellite Communications, Inc.(*,#)1914 Tigertail Blvd, Dania Beach, FL 33004TelecommunicationsTerm Loan7%12/2/2026333.8 333.8 226.6 0.06 %
Capital Containers LLC(*,#,^)7610 Auburn Blvd #4B, Citrus Heights, CA 95610Truck TransportationTerm LoanPrime plus 0%12/15/202710.4 10.4 9.7 0.00 %
Carl R. Bieber, Inc. dba Bieber Tourways/Bieber Transportation/Bieber(*,#)320 Fair St, Kutztown, PA 19530Transit and Ground Passenger TransportationTerm Loan7.5%9/30/2027366.2 366.2 131.0 0.03 %
Chickamauga Properties, Inc., MSW Enterprises, LLP(*,#)214 Sutherland Way, Rocky Face, GA 30740Amusement, Gambling, and Recreation IndustriesTerm Loan6.25%12/22/203559.0 59.0 — 0.00 %
Children First Home Health Care Inc(*,#,^)1220 Broadcasting Rd Ste 202, Wyomissing, PA 19610Ambulatory Health Care ServicesTerm Loan7.5%12/27/2028282.4 282.4 35.1 0.01 %
CIS BIG DOG, LLC(*,#,^)8920 US HWY, 62 WEST, Cynthiana, KY 41031Administrative and Support ServicesTerm LoanPrime plus 2.75%9/19/202746.7 46.7 43.7 0.01 %
154
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

Clark Realty LLC(*,#)4 Walker Way, Albany, NY 12205Real EstateTerm Loan8%8/29/204173.3 73.3 26.9 0.01 %
Royal Blue Investments, Inc. and Cleland Pharmacy LLC(*,#,^)202 S. 1st St, Wakeeny, KS 67672Health and Personal Care Stores Term LoanPrime plus 0%7/31/204248.5 48.5 40.5 0.01 %
Clowers Trucking By Faith LLC(*,#)705 E Brookwood PL, Valdosta, GA 31601Truck TransportationTerm LoanPrime plus 0%5/23/202910.2 10.2 — 0.00 %
Colts V LLC and Nowatzke Service Center, Inc dba Nowatzke Truck & Trai(*,#)6900 Whitmore Lake Rd, Whitmore Lake, MI 48189Repair and MaintenanceTerm Loan6.75%9/26/2039553.3 553.3 395.3 0.10 %
Commonwealth Diagnostics International, Inc(*,#,^)39 Norman St a/k/a 1 Holyoke Square, Salem, MA 01970Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%9/20/2027931.5 931.5 891.5 0.23 %
Custom Software, Inc. a Colorado Corporation dba M-33 Access(*,#)380 E. Borden Rd, Rose City, MI 48654Professional, Scientific, and Technical ServicesTerm Loan6.25%11/30/2024165.8 165.8 52.9 0.01 %
D&G Capital LLC dba Miami Grill 277(*,#)2521 North Federal Hwy, Unit C, Boca Raton, FL 33431Food Services and Drinking PlacesTerm Loan6.5%12/16/202541.9 41.9 8.6 0.00 %
Darnoc Enterprises Inc, Setira Paul Inc dba Conrad's Famous Bakery, In(*,#,^)299 Utica Ave, Brooklyn, NY 11203Food ManufacturingTerm LoanPrime plus 0%6/27/2043337.0 337.0 297.5 0.08 %
Destination Hope, Inc, TrilogyTreatment & Wellness Center, Inc, The Ac(*,#)6555 NW 9th Ave, Fort Lauderdale, FL 33309Ambulatory Health Care ServicesTerm LoanPrime plus 0%12/30/202925.7 25.7 24.0 0.01 %
DG Business Solutions, Inc(*,#,^)11008 Rene St, Lenexa, KS 66215Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%9/30/2029200.8 200.8 183.9 0.05 %
Donald Wells Consulting Co(*,#,^)2347 Bright Meadows, Missouri City, TX 77489Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%11/18/203112.3 12.3 — 0.00 %
Doxa Deo Inc dba Luv 2 Play(*,#)1600 Village Market Blvd, Leesburg, VA 20175Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%2/28/202680.6 80.6 75.5 0.02 %
Driven Warehouse/Distribution LLC(*,#)271 East North Ave, Glendale, IL 60139Truck TransportationTerm Loan8%12/22/2027726.2 726.2 335.8 0.09 %
Dynamic Dental Corporation(*,#,^)3760 NW 126th Ave, Coral Springs, FL 33065Merchant Wholesalers, Durable Goods Term Loan7.5%5/31/202960.4 60.4 56.6 0.01 %
E & I Holdings, LP & PA Farm Products, LLC(*,#)1095 Mt Airy Rd, Stevens, PA 17578Food ManufacturingTerm Loan6%4/30/20304,705.2 4,705.2 2,950.7 0.75 %
Eagle Aggregate Transportation, LLC and Eagle Pneumatic Transport LLC(*,#,^)4401 N I-35 #113, Denton, TX 76207Truck TransportationTerm Loan6%3/31/2024154.4 154.4 20.8 0.01 %
Earth First Recycling, LLC and 191 Clark Road, LLC(*,#,^)400 Island Park Rd, Easton, PA 18040Merchant Wholesalers, Durable Goods Term Loan8%6/5/2027338.0 338.0 298.4 0.08 %
Elegant Fireplace Mantels, Inc. dba Elegant Fireplace Mantels(*,#,^)11949 Borden Ave, San Fernando, CA 91340Specialty Trade ContractorsTerm Loan8.25%12/31/202243.9 43.9 — 0.00 %
Ericon, Inc.(*,#)740 Davenport Ave, Fremont, NE 68025Gasoline Stations Term Loan8.25%12/1/2041258.2 258.2 240.4 0.06 %
155
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

ERT Group Inc and Curt's Tools Inspection Inc(*,#)5229 142nd Dr. NW, Williston, ND 58801Support Activities for MiningTerm Loan6%3/18/2041692.4 692.4 329.5 0.08 %
Estelle Finkel Educational Associates,LLC(*,#,^)125 West Mount Pleasant Ave, Livingston, NJ 07039Educational ServicesTerm LoanPrime plus 2.75%5/11/202771.3 71.3 63.9 0.02 %
ETS Tree Service Inc and Eastern Tree Service, Inc(*,#,^)4813 Pinson Valley Pkwy, Birmingham, AL 35215Administrative and Support ServicesTerm Loan6%12/21/2028183.4 183.4 159.8 0.04 %
Evergreen Pallet LLC and Evergreen Recycle LLC(*,#)302 W 53rd St N., Wichita, KS 67204Wood Product ManufacturingTerm Loan7.25%3/16/2026800.5 800.5 229.4 0.06 %
Magill Truck Line LLC and Jeff J. Ralls(*,#)211 West 53rd St N., Park City, KS 67204Truck TransportationTerm Loan7.25%2/23/2026173.4 173.4 28.3 0.01 %
Evernook Valley Milk LLC(*,#,^)7448 Emmerson Rd, Everson, WA 98247Animal Production and AquacultureTerm Loan7.5%8/31/2042637.5 637.5 551.4 0.14 %
Excel RP Inc(*,#,^)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%8/30/202366.8 66.8 62.6 0.02 %
Excel RP Inc(*,#)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%3/25/202695.2 95.2 23.0 0.01 %
Excel RP, Inc./Kevin and Joann Foley(*,#)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%7/8/202832.4 32.4 30.4 0.01 %
Florida Apnea Diagnostics LLC(*,#,^)2664 Cypress Ridge Blvd Ste. 101 & 102 A, Wesley Chapel, FL 33544Ambulatory Health Care ServicesTerm Loan8.25%10/20/202711.0 11.0 4.3 0.00 %
Foresite Realty Partners LLC and Foresite Real Estate Holdings LLC(*,#,^)5600 N. River Rd #925, Rosemont, IL 60018Real EstateTerm Loan6%3/27/2025512.3 512.3 — 0.00 %
Four Seasons Laser Center Inc.(*,#,^)4720 NW 2nd Ave Unit D-104 and Unit D-105, Boca Raton, FL 33498Personal and Laundry ServicesTerm Loan6%6/26/2042198.8 198.8 182.0 0.05 %
Four Seasons Laser Center Inc.(*,#,^)4720 NW 2nd Ave Unit D104 and Unit D-105, Boca Raton, FL 33498Personal and Laundry ServicesTerm LoanPrime plus 0%3/28/202911.2 11.2 — 0.00 %
Frontier Sand LLC(*,#,^)305 Country Hwy AA, New Auburn, WI 54757Mining (except Oil and Gas)Term Loan8.25%11/30/2027438.7 438.7 229.4 0.06 %
Gilpin Enterprises, LLC dba Jon Smith Subs(*,#,^)17790 State Rd 54, Lutz, FL 33458Food Services and Drinking PlacesTerm Loan6%9/12/202962.8 62.8 43.6 0.01 %
Grand Manor Realty, Inc. & Kevin LaRoe(*,#)318 S. Halsted St, Chicago, IL 60661Real EstateTerm Loan6%2/20/202319.0 19.0 17.8 0.00 %
Greensboro Plastic Surgical Associates, PA(*,#,^)2716 Henry St, Greensboro, NC 27405Ambulatory Health Care ServicesTerm Loan6%6/29/2042503.2 503.2 481.6 0.12 %
GT Performance Plus Inc(*,#,^)4210 College St, Beaumont, TX 77707Motor Vehicle and Parts Dealers Term LoanPrime plus 0%6/11/204493.8 93.8 87.8 0.02 %
GT Performance Plus Inc(*,#,^)4210 College St, Beaumont, TX 77707Motor Vehicle and Parts Dealers Term LoanPrime plus 0%6/11/202966.8 66.8 15.3 0.00 %
H.M.C, Incorporated(*,#,^)7190 Oakland Mills Rd Ste 10, Columbia, MD 21046Furniture and Related Product ManufacturingTerm Loan8.25%7/3/2028183.8 183.8 45.0 0.01 %
Hackensack Steel Corporation and Luzerne Ironworks Inc(*,#,^)300 Sly St, Swoyersville, PA 18709Specialty Trade ContractorsTerm Loan6%11/10/2026170.1 170.1 159.3 0.04 %
156
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

Hackstaff Restaurants LLC(*,#,^)248 W 1st. St Ste 201, Reno, NV 89501Food Services and Drinking PlacesTerm LoanPrime plus 0%7/15/2029134.1 134.1 60.5 0.02 %
Hallmark Enterprises LLC(*,#)54 Furman Ave, Brooklyn, NY 11207Specialty Trade ContractorsTerm LoanPrime plus 0%12/22/20311,245.4 1,245.4 380.2 0.10 %
Hana Pastries Enterprises LLC dba Hana Kitchens, Hana Pastries, Inc. d(*,#,^)34 35th St, Brooklyn, NY 11232Food ManufacturingTerm Loan6%12/14/202777.2 77.2 26.9 0.01 %
Harrison Logging Company LLC(*,#,^)127 Legate Rd, Indian Mound, TN 37079Forestry and LoggingTerm LoanPrime plus 0%2/9/202759.4 59.4 55.6 0.01 %
HDD Solutions, LLC(*,#)6550 Progress Pkwy, Cedar Hill, MO 63016Heavy and Civil Engineering ConstructionTerm Loan8.25%12/31/2028552.8 552.8 356.5 0.09 %
HG Ventures, Inc. dba Diamond Head Trucking(*,#,^)100 Phoenix Dr, Finleyville, PA 15332Truck TransportationTerm Loan7.5%6/29/2030794.6 794.6 95.9 0.02 %
Humd, LLC dba La Rosa Chicken and Grill(*,#)3111 N. University Dr, Coral Springs, FL 33065Food Services and Drinking PlacesTerm LoanPrime plus 0%1/31/2030124.3 124.3 119.0 0.03 %
iFood, Inc. dba Steak N Shake(*,#,^)2840 E Millbrook Rd, Raleigh, NC 27604Food Services and Drinking PlacesTerm Loan6%6/30/2039541.9 541.9 507.4 0.13 %
iFood, Inc. dba Steak N Shake(*,#,^)5900 Duraleigh Rd, Raleigh, NC 27612Food Services and Drinking PlacesTerm Loan6%7/31/2024148.5 148.5 139.0 0.04 %
IHC Hardware Inc.(*,#,^)614 Broad St, Story City, IA 50248Building Material and Garden Equipment and Supplies Dealers Term Loan6%12/6/204293.8 93.8 26.5 0.01 %
Insight Vision Care, PC, CRMOD Lubbock, P.C.,Vielm Vision Eyecare Inc(*,#,^)4899 Griggs Rd, Houston, TX 77021Ambulatory Health Care ServicesTerm Loan7.75%12/27/2043958.7 958.7 60.8 0.02 %
Iredell Oral & Facial Surgery, P.C. dba Johnson Oral Surgery(*,#,^)229 Medical Park Rd, Ste 310, Mooresville, NC 28117Ambulatory Health Care ServicesTerm Loan6%3/29/2044820.8 820.8 544.9 0.14 %
IT Quality Solutions, Inc(*,#,^)6522 Creekview Circle, Duluth, GA 30097Administrative and Support ServicesTerm LoanPrime plus 0%8/31/20317.7 7.7 7.2 0.00 %
J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value(*,#)640 Dubois St, Du Bois, PA 15801Building Material and Garden Equipment and Supplies Dealers Term Loan6%11/10/202633.1 33.1 31.0 0.01 %
J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value(*,#)640 Dubois St, Dubois, PA 15801Building Material and Garden Equipment and Supplies Dealers Term Loan6%11/10/2041290.0 290.0 271.5 0.07 %
Japp Business Inc dba Pick and Eat and Japp Drink Corp.(*,#)4179 Broadway , New York, NY 10033Food Services and Drinking PlacesTerm Loan6%11/30/202572.3 72.3 49.9 0.01 %
Jay Carlton's, LLC dba Jay Birds Rotisserie & Grill(*,#,^)24480 W 10 Mile RD, Southfield, MI 48033Food Services and Drinking PlacesTerm Loan6%1/4/202934.8 34.8 30.6 0.01 %
Jessie's Radiator and Automotive(*,#,^)1777 N Ventura Ave, Ventura, CA 93001Repair and MaintenanceTerm LoanPrime plus 0%10/31/202914.7 14.7 9.2 0.00 %
JMD Aviation Holdings, LLC(*,#,^)8050 North West 90th St, Medley, FL 33166Rental and Leasing ServicesTerm LoanPrime plus 0%12/15/2027397.5 397.5 372.2 0.09 %
Johnny's Boy LLC(*,#,^)127 East King St, Martinsburg, WV 25401Food Services and Drinking PlacesTerm LoanPrime plus 0%6/7/204431.1 31.1 27.8 0.01 %
157
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

Kantz LLC and Kantz Auto LLC dba Kantz's Hometown Auto(*,#)200 West Adams St, Cochranton, PA 16314Motor Vehicle and Parts Dealers Term Loan6.25%10/29/203911.1 11.1 1.0 0.00 %
Kego 2 LLC dba Jon Smith Subs 80025(*,#,^)2001 W. Southlake Blvd Ste 143, Southlake, TX 76092Food Services and Drinking PlacesTerm Loan6%11/14/202987.5 87.5 — 0.00 %
Kids at Heart,LLC dba Monster Mini Golf(*,#)10 Newbury St, Danvers, MA 01923Amusement, Gambling, and Recreation IndustriesTerm Loan6.75%9/22/202617.4 17.4 15.9 0.00 %
Kidtastic LLC dba The Little Gym of Audubon(*,#)2850 Audubon Dr, Audubon, PA 19403Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%7/27/202644.9 44.9 42.0 0.01 %
Kim Howard Corp dba NPN Machine Tools(*,#,^)9130 Wayfarer Ln, Houston, TX 77075Fabricated Metal Product ManufacturingTerm LoanPrime plus 0%12/7/2042549.9 549.9 503.7 0.13 %
Kim Howard Corp dba NPN Machine Tools(*,#,^)9130 Wayfarer Ln, Houston, TX 77075Fabricated Metal Product ManufacturingTerm LoanPrime plus 0%6/28/2029188.8 188.8 173.0 0.04 %
Kostekos Inc dba New York Style Pizza(*,#)10 South King St, Gloucester, NJ 08030Food Services and Drinking PlacesTerm Loan8%2/6/204034.8 34.8 17.1 0.00 %
LA Diner Inc dba Loukas L A Diner(*,#)3205 Route 22 East, Branchburg, NJ 08876Food Services and Drinking PlacesTerm Loan7.25%9/28/203792.8 92.8 53.1 0.01 %
LAN Doctors Inc(*,#)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%8/28/202552.6 52.6 48.1 0.01 %
LAN Doctors Inc(*,#)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%3/16/202643.4 43.4 36.6 0.01 %
Legacy Roof Contractors LLC(*,#,^)32091 Broken Branch Circle, Spanish Fort, AL 36527Specialty Trade ContractorsTerm Loan6%2/28/204494.7 94.7 26.4 0.01 %
Linqserv Inc.(*,#,^)1555 Lyell Ave, Rochester, NY 14606Transit and Ground Passenger TransportationTerm Loan7.5%11/9/2027261.2 261.2 15.4 0.00 %
LP Industries, Inc dba Childforms and Lenoir Business Partners LLC (EP(*,#,^)2040 Norwood, Lenoir, NC 28645Plastics and Rubber Products ManufacturingTerm LoanPrime plus 0%9/30/2038252.0 252.0 210.0 0.05 %
LP Industries, Inc dba Childforms(*,#,^)110 Charleston Dr, Ste 105-107, Morresville, NC 28117Plastics and Rubber Products ManufacturingTerm LoanPrime plus 0%9/30/2038102.3 102.3 70.5 0.02 %
Luv 2 Play Nor Cal, LLC(*,#,^)82 Clarksville Rd, Folsom, CA 95682Amusement, Gambling, and Recreation IndustriesTerm Loan6%9/25/2029101.8 101.8 4.0 0.00 %
Luv 2 Play Nor Cal, LLC dba Luv 2 Play(*,#)82 Clarksville Rd, Folsom, CA 95630Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%9/27/202631.8 31.8 30.5 0.01 %
Mag Auto Group Inc dba MAG Motor Company(*,#)1890 North Main St, Walnut Creek, CA 94596Motor Vehicle and Parts Dealers Term LoanPrime plus 0%9/24/2031218.8 218.8 81.9 0.02 %
Marlin Lighting LLC(*,#,^)7207 B Lockport Pl, Lorton, VA 22079Specialty Trade ContractorsTerm Loan6%12/19/202865.3 65.3 61.1 0.02 %
Matchless Transportation LLC dba First Class Limo(*,#)31525 Aurora Rd # 5, Solon, OH 44139Transit and Ground Passenger TransportationTerm Loan6.25%5/31/2020117.4 117.4 25.3 0.01 %
MB Nursery(*,#,^)15562 HWY-South, Whitehouse, TX 75791Administrative and Support ServicesTerm LoanPrime plus 0%5/31/202072.4 72.4 67.8 0.02 %
Mojo Brands Media, LLC(*,#)3260 University Blvd., Ste 100, Winter Park, FL 32792Broadcasting (except Internet)Term Loan6%8/28/2023673.2 673.2 61.6 0.02 %
158
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

Moon Landscaping, Inc, Moon Group, Inc moon Nursery, Inc, Moon Site Ma(*,#,^)145 Moon Rd, Chesapeake City, MD 21915Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%6/27/20291,083.3 1,083.3 1,013.2 0.26 %
Morris Glass and Construction Inc(*,#)40058 Hwy 30, Astoria, OR 97103Specialty Trade ContractorsTerm Loan15%10/1/2023298.1 298.1 131.9 0.03 %
MPI Automotive Corp(*,#)19925 Stevens Creek Blvd, Ste 100, Cupertino, CA 95014Transportation Equipment ManufacturingTerm LoanPrime plus 0%5/26/203148.8 48.8 4.9 0.00 %
Mr. Lube, Inc(*,#,^)721 E Westpoint Dr., Wasilla, AK 99654Repair and MaintenanceTerm LoanPrime plus 2.75%6/22/2043654.6 654.6 402.6 0.10 %
Mr. Lube, Inc.(*,#,^)721 E. West Point Dr, Wasilla, AK 99654Repair and MaintenanceTerm LoanPrime plus 2.75%6/22/2028516.8 516.8 28.1 0.01 %
Murf & Sons LLC(*,#,^)3821 Pleasant Hill Rd, Store #B-107, Kissimmee, FL 34746Food Services and Drinking PlacesTerm Loan5%11/16/202724.0 24.0 14.5 0.00 %
N Transport LLC(*,#,^)5348 W Brown Ave, Fresno, CA 93722Truck TransportationTerm Loan8%11/20/2027364.2 364.2 53.4 0.01 %
National Dredging Services of North Florida, Inc.(*,#,^)1537 Northwest Main Blvd., Lake City, FL 32055Repair and MaintenanceTerm LoanPrime plus 0%6/27/202835.2 35.2 8.2 0.00 %
National Dredging Services of North Florida, Inc.(*,#,^)1537 Northwest Main Blvd., Lake City, FL 32055Repair and MaintenanceTerm LoanPrime plus 0%6/27/204325.7 25.7 24.1 0.01 %
Northern Steel and Concrete, LLC, a Pennsylvania LLC,Northern Steel an(*,#)18 Hillcrest Ln, Willingboro, NJ 08046Specialty Trade ContractorsTerm LoanPrime plus 0%12/17/20311,078.0 1,078.0 917.7 0.23 %
Northern Steel and Concrete, LLC (NJ) and Northern Steel and Concrete,(*,#)18 Hillcrest Ln, Willingboro, NJ 08046Specialty Trade ContractorsTerm LoanPrime plus 0%2/18/2032156.6 156.6 102.5 0.03 %
Olsen Bros. Transportation, Inc. & Golden Spike Leasing, LLC(*,#,^)2520 Pennsylvania Ave, Ogden, UT 84401Truck TransportationTerm Loan8.25%6/20/2028504.7 504.7 81.6 0.02 %
Panther Ironworks and Rigging Solutions LLC(*,#)1028 Washburn Switch Rd, Shelby, NC 28150Specialty Trade ContractorsTerm Loan6%11/10/202640.4 40.4 21.6 0.01 %
Paragon Fabricators Inc, Paragon Field Services, Inc and Paragon Globa(*,#)412 and 500 Main St, La Marque, TX 77568Heavy and Civil Engineering ConstructionTerm Loan7%9/28/2026558.1 558.1 22.8 0.01 %
Paragon Global, LLC and Paragon Fabricators Inc and Paragon Field Serv(*,#)412 and 500 Main St, La Marque, TX 77568Heavy and Civil Engineering ConstructionTerm Loan7%9/28/2041110.1 110.1 24.2 0.01 %
Pecos Entertainment LLC dba State Theater and Pecos Inn LLC dba Econo(*,#,^)421 S. Oak St, Pecos, TX 79772Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 0%3/27/2042388.0 388.0 85.1 0.02 %
Pecos Inn LLC dba Econo Lodge(*,#)2207 W Third St, Pecos, TX 79772AccommodationTerm LoanPrime plus 0%4/28/2041621.9 621.9 311.9 0.08 %
Peter K Lee MD, PC dba Atlanta Primary Care(*,#,^)211 Roberson Mill Rd, Milledgeville, GA 31061Ambulatory Health Care ServicesTerm Loan8.25%9/13/2043859.6 859.6 804.8 0.20 %
Peter K Lee MD, PC dba Atlanta Primary Care LLC(*,#,^)5 Ashford Way, Hawkinsville, GA 31061Ambulatory Health Care ServicesTerm Loan8.25%9/13/2028381.0 381.0 225.9 0.06 %
Picon Motors LLC dba The New Young's Motors(*,#,^)199-211 Central Ave, Orange, NJ 07080Motor Vehicle and Parts Dealers Term Loan6%6/12/2029213.8 213.8 132.4 0.03 %
159
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

Play4Fun dba Luv 2 Play(*,#,^)13722 Jamboree Rd, Irvine, CA 92602Amusement, Gambling, and Recreation IndustriesTerm Loan7.5%3/7/2028148.1 148.1 138.7 0.04 %
Top Cat Ready Mix, LLC, Ples Investments LLC, and Pappy's Sand and(*,#)13851 S State HWY 34, Scurry, TX 75158Specialty Trade ContractorsTerm Loan8.25%10/28/2025348.7 348.7 160.2 0.04 %
Prestige Construction of Florida, LLC(*,#,^)1404 Yorktown St Ste E, Deland, FL 34944Construction of BuildingsTerm Loan6%5/23/2042105.1 105.1 91.5 0.02 %
Prime Precision Machining, LLC(*,#,^)845 Mandoline Ave, Madison Heights, MI 48071Fabricated Metal Product ManufacturingTerm LoanPrime plus 0%9/11/2029200.8 200.8 116.7 0.03 %
Prime Precision Machining, LLC(*,#,^)845 Mandoline Ave, Madison Heights, MI 48071Real EstateTerm LoanPrime plus 0%9/11/2044267.9 267.9 245.4 0.06 %
R & K Contracting Inc(*,#)3605 NW 31st Ave, Fort Lauderdale, FL 33309Specialty Trade ContractorsTerm LoanPrime plus 0%2/18/20268.2 8.2 7.6 0.00 %
Ramjay Inc.(*,#,^)85 S. Bragg St Ste 303, Alexandria, VA 22312Transit and Ground Passenger TransportationTerm Loan4.5%1/13/2027316.2 316.2 193.6 0.05 %
Recovery Boot Camp, LLC, Rule 62, Inc. and Healing Properties, LLC(*,#,^)85 SW 5th Ave, Delray Beach, FL 33444Ambulatory Health Care ServicesTerm Loan7.75%12/28/2028100.3 100.3 15.2 0.00 %
Rich's Food Stores LLC dba Hwy 55 of Wallace(*,#)611 East Southerland St, Wallace, NC 28466Food Services and Drinking PlacesTerm Loan8.25%9/14/202699.3 99.3 40.4 0.01 %
Rihahn Inc. dba RDBL, Inc(*,#,^)1397 McGuire Rd, Lamar, AR 72846Forestry and LoggingTerm Loan6%9/14/2028115.0 115.0 53.9 0.01 %
RIHAHN INC dba RDBL, INC.(*,#,^)1397 McGuire Rd, Lamar, AR 72846Forestry and LoggingTerm LoanPrime plus 0%2/5/20295.4 5.4 5.0 0.00 %
Romain Tower Inc. David Romaine, Sugar Land Crane and Rigging, LLC(*,#,^)215 S Persimmon St,, Tomball, TX 77375Heavy and Civil Engineering ConstructionTerm LoanPrime plus 0%12/31/2028192.9 192.9 156.3 0.04 %
Romain Tower Inc.(*,#,^)215 S Persimmon St, Tomball, TX 77375Heavy and Civil Engineering ConstructionTerm LoanPrime plus 0%12/20/2044881.8 881.8 438.4 0.11 %
Route 130 SCPI Holdings LLC Route 130 SCPI Operations LLC(*,#)423-429 Route 156, Trenton, NJ 08620Food Services and Drinking PlacesTerm Loan6.25%9/30/2039279.5 279.5 44.5 0.01 %
RWBB LLC(*,#,^)4120 7th Ave, Kenosha, WI 53140Food Services and Drinking PlacesTerm LoanPrime plus 0%6/26/204474.3 74.3 64.0 0.02 %
Sambella Holdings, LLC and Strike Zone Entertainment Center LLC(*,#)726-740 South Fleming St, Sebastian, FL 32958Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%11/23/2040738.3 738.3 626.0 0.16 %
Sambella Holdings, LLC and Strike Zone Entertainment Center LLC(*,#,^)726-740 South Fleming St, Sebastian, FL 32958Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%12/24/2041492.0 492.0 460.6 0.12 %
Sanabi Investment, LLC dba Oscar's Moving and Storage(*,#,^)11421 N W 107th St, #13, Miami, FL 33178Truck TransportationTerm Loan0%3/5/202780.6 80.6 59.1 0.01 %
Sandlot Ventures LLC and Sandbox Ventures LLC(*,#,^)1857A Elmdale Ave, Glenview, IL 60025Amusement, Gambling, and Recreation IndustriesTerm Loan6%9/25/204088.1 88.1 80.7 0.02 %
Select Propane & Fuel Inc. and Select Fuel & Convenience LLC(*,#)3822 State Route 3, Red Bud, IL 62278Merchant Wholesalers, Nondurable Goods Term Loan7.5%2/10/2030520.1 520.1 27.1 0.01 %
160
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

Shining Star Kids, Inc. dba Brain Balance(*,#,^)17323 Ventura Blvd, Encino, CA 91316Educational ServicesTerm LoanPrime plus 0%1/7/202964.6 64.6 60.5 0.02 %
Shooter's Gun Club, LLC(*,#)2429 Iowa St Stes B, C and D, Lawrence, KS 66046Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%4/27/2030165.5 165.5 154.9 0.04 %
Sky Way Enterprises, Inc, A-Liner-8-Aviation, Inc, Kissimmee Aviation(*,#,^)3031 Patrick St, Kissimmee, FL 34741Air TransportationTerm Loan8.25%12/12/2027398.7 398.7 270.3 0.07 %
Skyways LTD,Jet 60 LLC,Mendean Jonath, Inc,Jet AOG, Inc & Jonathan Men(*,#,^)426 15th St NW, Huron, SD 57350Support Activities for TransportationTerm LoanPrime plus 0%6/8/2043211.8 211.8 179.0 0.05 %
Skyways, LTD(*,#,^)350 15th St NW, Huron, SD 57350Support Activities for TransportationTerm LoanPrime plus 0%3/22/2029740.7 740.7 — 0.00 %
Sovereign Communications LLC(*,#)26 E 3 Mile Rd, Sault Sainte Marie, MI 49783Broadcasting (except Internet)Term Loan6.75%2/7/2024509.4 509.4 33.3 0.01 %
Space Express, LLC(*,#,^)2775 Burris Rd, Davie, FL 33314Truck TransportationTerm Loan6%3/12/202974.1 74.1 — 0.00 %
SSI Refrigerated Express Inc. and Robert M Stallone(*,#,^)1001 E. Cooley Dr Ste 102, Colton, CA 92324Truck TransportationTerm LoanPrime plus 0%11/17/202743.4 43.4 38.0 0.01 %
SSI Refrigerated Express Inc. and Robert M Stallone dba SSI Express(*,#,^)1001 E. Cooley Dr Ste 102, Colton, CA 92324Truck TransportationTerm LoanPrime plus 0%2/28/2027146.0 146.0 109.3 0.03 %
Stat Constructor L.P(*,#,^)9573 US Hwy 220, Stoneville, NC 27048Specialty Trade ContractorsTerm LoanPrime plus 0%8/30/202888.1 88.1 82.4 0.02 %
StillBasi Holdings, Inc. dba Buxton Auto Transport(*,#,^)9371 Jackson Rd, Sacramento, CA 95826Truck TransportationTerm Loan6%3/29/2029263.6 263.6 144.4 0.04 %
Suncrest Stone Products LLC(*,#)341 County Farm Rd, Ashburn, GA 31714Nonmetallic Mineral Product ManufacturingTerm Loan7.25%8/29/2041429.2 429.2 — 0.00 %
Suncrest Stone Products LLC(*,#)341 County Farm Rd, Ashburn, GA 31714Nonmetallic Mineral Product ManufacturingTerm Loan7.5%8/29/2026499.2 499.2 56.4 0.01 %
T and B Boots Inc dba Takken's Shoes(*,#)72 South Main St, Templeton, CA 93465Clothing and Clothing Accessories Stores Term Loan7.25%12/7/2026380.7 380.7 356.4 0.09 %
Tarver-Henley Inc. and Tar-Hen LLC(*,#,^)2125 College Ave, Jackson, AL 36545Building Material and Garden Equipment and Supplies Dealers Term Loan7.75%6/21/204297.8 97.8 36.8 0.01 %
The Alba Financial Group, Inc.(*,#)1420 Spring Hill Rd Ste 600, McLain, VA 22102Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm Loan6%3/10/20210.1 0.1 0.1 0.00 %
The Country House Restaurant, LLC and Pelton Real Estate, LLC(*,#,^)677 US Route 7, Pittsford, VT 05763Food Services and Drinking PlacesTerm LoanPrime plus 0%6/30/204247.3 47.3 44.3 0.01 %
Tier1 Solutions LLC(*,#,^)1000 Essington Rd Ste. 109 & 111, Joliet, IL 60435Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%8/18/202711.7 11.7 10.9 0.00 %
Tier1 Solutions LLC(*,#,^)1000 Essington Rd, Juliet, IL 60435Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%1/23/20285.0 5.0 4.6 0.00 %
Tier1 Solutions LLC(*,#,^)1000 Essington Rd, Ste 111, Joliet, IL 60435Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%1/12/20297.6 7.6 6.8 0.00 %
161
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)

Top Quality Dent Service LLC(*,#,^)1541 Vapor Trail, Colorado Springs, CO 80905Repair and MaintenanceTerm LoanPrime plus 0%11/2/20273.9 3.9 — 0.00 %
Victorian Restaurant and Tavern, LLC(*,#,^)226 Maple Ave, Cheshire, CT 06410Food Services and Drinking PlacesTerm Loan8.25%2/22/204280.0 80.0 74.9 0.02 %
White Hawk Inc.(*,#,^)2101 Dr. Martin Luther King Jr. Blvd, Stockton, CA 95205Truck TransportationTerm Loan8.25%12/15/2026917.5 917.5 72.3 0.02 %
Wilban LLC(*,#)454 US Hwy 22, Whitehouse Station, NJ 08889Food Services and Drinking PlacesTerm Loan7.5%3/11/20264.2 4.2 3.9 0.00 %
Wilban LLC(*,#)454 US Hwy 22, Whitehouse Station, NJ 08889Food Services and Drinking PlacesTerm Loan7.25%3/28/2039238.6 238.6 73.3 0.02 %
Zahmel Restaurant Suppliers Corp dba Cash & Carry;Zahners Hardware;Zan(*,#,^)33-51 11th St, Astoria, NY 11106Merchant Wholesalers, Nondurable Goods Term Loan8.25%4/28/202775.8 75.8 70.9 0.02 %
Zeeba Company, Inc dba Zeeba Rent-A-Van & 5 Star Rent- A-Van(*,#,^)3200 Wilshire Blvd Ste 1000, Los Angeles, CA 90010Transit and Ground Passenger TransportationTerm Loan7.75%9/27/202845.1 45.1 42.2 0.01 %
Total Unguaranteed Non-Accrual SBA Investments50,574.3 50,574.3 $25,443.3 6.45 %
Total Unguaranteed SBA Investments$470,399.0 $470,399.0 $459,981.4 116.59 %

162
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)

Little Angels Daycare4551 Summit Blvd, West Palm Beach, FL 33415Social AssistanceTerm LoanPrime plus 2.75%2/3/2047$281.4 $281.4 $302.6 0.08 %
Alaska Industrial Paint LLC1301 North Post Rd, Anchorage, AK 99501Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/8/2032448.8 448.8 487.0 0.12 %
Jafar & Jamal Inc.11 Highland Ave, Malden, MA 02148Food and Beverage StoresTerm LoanPrime plus 2.75%6/29/2032362.2 362.2 393.0 0.10 %
Momentum Metal Finishing1286 Anvilwood Ave, Sunnyvale, CA 94089Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/13/2047253.9 253.9 279.6 0.07 %
BGF Bobby Q’s Inc365 W Sunrise Hwy, Freeport, NY 11520Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/13/2047593.9 593.9 654.1 0.17 %
La Taqueria Inc10 Greenwich Ave, GREENWICH, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/2032480.3 480.3 513.9 0.13 %
Yours II Cosmetology Academy Inc.  1416 W Columbia Ave, Battle Creek, MI 49015Educational ServicesTerm LoanPrime plus 2.75%12/21/20472,471.3 2,471.3 2,672.0 0.68 %
Alaska Industrial Paint LLC1301 North Post Rd, Anchorage, AK 99501Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/21/204775.0 75.0 82.6 0.02 %
Clean Pro 1, LLC385 Boston Post Rd, Orange, CT 06477Construction of BuildingsTerm LoanPrime plus 2.75%5/29/2047294.1 294.1 319.9 0.08 %
Tatum Global Services LLC8097 Sudley Rd, Manassas, VA 20109Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/9/2032422.3 422.3 456.0 0.12 %
Titheotokos, LLC. dba Sunshine Pharmacy1995 US-1, Vero Beach, FL 32960Health and Personal Care StoresTerm LoanPrime plus 2.75%7/24/2047717.1 717.1 794.2 0.20 %
Happier Now LLC724 Homestead Rd, La Grange Park, IL 60526Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/11/203218.8 18.8 20.4 0.01 %
Southdown Coffee49 Maple Ave, Sea Cliff, NY 11579Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/11/203269.3 69.3 75.6 0.02 %
Evolving Nurse, LLC2940 Noble Rd, Cleveland Heights, OH 44121Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/18/2047259.5 259.5 287.4 0.07 %
Impresa Building Systems of Greenwood, SC161 Rock Church Rd SE, Greenwood, SC 29649Wood Product ManufacturingTerm LoanPrime plus 2.75%10/23/20321,816.9 1,816.9 1,912.3 0.48 %
Little Angels Daycare and Learning Center LLC4551 Summit Blvd, West Palm Beach, FL 33415Social AssistanceTerm LoanPrime plus 2.75%3/24/204815.0 15.0 16.7 — %
Leedann Properties LLC534 Mill St SE, Gainesville, GA 30501Rental and Leasing ServicesTerm LoanPrime plus 2.75%11/24/203288.5 88.5 96.5 0.02 %
2900 N. 18th Street LLC / Bobby Morganstein Events77 Buck Rd, Huntingdon Valley, PA 19006Rental and Leasing ServicesTerm LoanPrime plus 2.75%11/30/2047572.6 572.6 630.6 0.16 %
ZenDog, LLC858 C Ridge Rd, Duson, LA 70529Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/31/2032114.0 114.0 124.3 0.03 %
Samson Cinema Holdings, Inc.1400 Pile St, Clovis, NM 88101Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%9/30/20471,085.1 1,085.1 1,174.6 0.30 %
Royal Brand Restaurants Inc4360 W. Shaw Ave, Fresno, CA 93722Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/8/2033124.3 124.3 133.7 0.03 %
Lewes Bottom Line LLC dba Capriotti's32099 Conleys Chapel Rd, Lewes, DE 19958Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/12/2032144.9 144.9 156.6 0.04 %
163
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
IMO GLOW LLC4251 Salzedo St, Coral Gables, FL 33134Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/13/2032435.3 435.3 470.7 0.12 %
Evolution Eats LLC843 Highland View Ln, Metamora, MI 48455Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/14/2032164.8 164.8 179.7 0.05 %
Redmond Investments LLC2340 Texas Heritage Pkwy, Ste 900, Brookshire, TX 77423Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/19/203276.8 76.8 83.7 0.02 %
Pitmilly, LLC28 Scarlet Oak Dr, Lafayette Hill, PA 19444Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/21/203237.6 37.6 41.0 0.01 %
LegacyWorx, LLC dba HOTWORX19764 Anderson Rd, Mt Vernon, WA 98274Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/22/2032164.5 164.5 177.8 0.05 %
SHEPHERD FITNESS 3, LLC dba Workout Anytime Jefferson City9408 Apison Pike, Ooltewah, TN 37363Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/27/2032447.5 447.5 483.8 0.12 %
TJ Rising Group LLC1359 E Weldon Ave, Phoenix, AZ 85014Food and Beverage StoresTerm LoanPrime plus 2.75%12/29/2032243.8 243.8 263.6 0.07 %
Cold Stone Creamery714 W Onstott Frontage Rd, Yuba City, CA 95991Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/23/2032170.4 170.4 184.2 0.05 %
Savage Sweets Inc.132 Veterans Ln, Doylestown, PA 18901Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/23/2032163.1 163.1 177.9 0.05 %
Copper Rose LLC539 NE 94th St, Seattle, WA 98115Food ManufacturingTerm LoanPrime plus 2.75%10/25/203216.2 16.2 17.6 — %
DISTINCTIVE CORPORATION dba Carmel Burger BarCarmel Plaza #106, Carmel-By-The-Sea, CA 95070Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/27/2032519.7 519.7 561.9 0.14 %
Moody's Hardware, LLC22754 W 220 St, Springhill, KS 66083Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/27/204872.0 72.0 79.5 0.02 %
Gun Guardian, LLC1136 Brick Rd, Winter Garden, FL 34787Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%8/3/203282.4 82.4 89.8 0.02 %
J LaMendola Physical Therapy PC1100 Clove Rd Ste G-C, Staten Island, NY 10301Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/10/2047453.0 453.0 499.4 0.13 %
Premier Healthcare Service1015 Eden Way North, Chesapeake, VA 23320Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%10/16/2047272.0 272.0 301.6 0.08 %
Soapbox Studio, LLC4031 Fambrough Dr, Powder Springs, GA 30127Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%6/16/203215.8 15.8 17.0 — %
Fara Bender DMD PA6169 Jog Rd Unit B-5, Lake Worth, FL 33467Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/27/2032194.6 194.6 210.4 0.05 %
Solshine Yoga LLC96 College Heights Blvd, Clemson, SC 29631Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/27/203236.9 36.9 40.3 0.01 %
Beau & HB Inc. dba Beau’s Billard, Bowling & Arcade100 Village Rd, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/16/202996.2 96.2 100.3 0.03 %
NJ Floats Inc327 Route 202/206, Bedminster Township, NJ 07921Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/12/2046822.0 822.0 873.4 0.22 %
PERFORMANCE PAINT INCORPORATED431 E Main St, Brownsburg, IN 46112Repair and MaintenanceTerm LoanPrime plus 2.75%6/30/2047303.0 303.0 336.0 0.09 %
164
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Infrared Girl, LLC42 Nashua Rd, Londonderry, NH 03053Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/11/2032249.0 249.0 271.4 0.07 %
Metro of Livernois17149 Livernois, Detroit, MI 48221TelecommunicationsTerm LoanPrime plus 2.75%5/29/20471,822.1 1,822.1 1,977.0 0.50 %
Hair and Beauty Market Place, LLC7900 S. Orange Blossom Trail, Unit 1, Orlando, FL 32809Health and Personal Care StoresTerm LoanPrime plus 2.75%8/31/20461,686.1 1,686.1 1,829.4 0.46 %
BC Bishop Enterprises LLC dba 9Round Pooler105-107 Grand Central Blvd, Pooler, GA 31322Educational ServicesTerm LoanPrime plus 2.75%3/2/202829.4 29.4 29.4 0.01 %
Jones Roger Shermann Inn Inc.195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/4/203057.7 57.7 57.7 0.01 %
Matrix Z LLC800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 6.5%2/27/20299.7 9.7 9.7 — %
Rello Inc.8063 Jericho Turnpike, Woodbury, NY 11797Personal and Laundry ServicesTerm LoanPrime plus 6.5%4/17/20294.7 4.7 4.7 — %
2Choice2Friends LLC901 W Braker Ln, Austin, TX 78758Food Services and Drinking PlacesTerm LoanPrime plus 6.5%4/17/20299.8 9.8 9.8 — %
NYM Solutions Inc.12150 SW 128th St CT Ste 209, Miami, FL 33186Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%5/6/20299.9 9.9 9.9 — %
MCM Design LLC5926 Vinings Vintage Way, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/23/20297.7 7.7 7.7 — %
Still Photography195 Terrace Place, Apt. 2, Brooklyn, NY 11218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/6/202910.0 10.0 10.0 — %
Archer Cleaners Inc.1514 W. 33rd St, Chicago, IL 60608Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/10/202910.0 10.0 10.0 — %
Campuscuts LLC930 Robtrice Ct, Edmond, OK 73430Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/21/20296.0 6.0 6.0 — %
Port Diesel LLC3212 Alex Trask Dr, Castle Hayne, NC 28429Repair and MaintenanceTerm LoanPrime plus 6.5%6/21/202910.0 10.0 10.0 — %
Menshka Inc.88 High St, Mountclair, NJ 07042Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%7/10/202910.1 10.1 10.1 — %
Lawrence Adeyemo & Co LLC209-34 112 Ave, Queens Village, NY 11429Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%7/19/20298.1 8.1 8.1 — %
Gradstreet LLC2437 Corinth Ave Apt 130, Los Angeles, CA 90064Nonstore RetailersTerm LoanPrime plus 6.5%7/30/20295.8 5.8 5.8 — %
Crystal Clear Accounting34099 Tuscan Creek Way, Temecula, CA 92592Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/26/20292.6 2.6 2.6 — %
Doghouse Sport Fishing Charters Inc.83413 Overseas Hwy, Islamorada, FL 33036Scenic and Sightseeing TransportationTerm LoanPrime plus 6.5%8/30/202910.1 10.1 10.1 — %
No Push Back LLC5405 Neshaminy Blvd, Bensalem, PA 19020Personal and Laundry ServicesTerm LoanPrime plus 6.5%8/30/20299.8 9.8 9.8 — %
Host Marketing LLC206 Bell Ln, Ste B, West Monroe, LA 71291Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/18/202910.2 10.2 10.2 — %
Standard Real Estate Services LLC500 West Silver Spring Dr, Ste K 200,, Glendale, WI 53217Real EstateTerm LoanPrime plus 6.5%9/19/202910.3 10.3 10.3 — %
165
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Bargain Store107 Tabernacle Church Rd, Candor, NC 27229General Merchandise StoresTerm LoanPrime plus 6.5%10/11/202910.3 10.3 10.3 — %
Pine Mountain Residential LLC10240 Cosmopolitan Circle, Parker, CO 80134Specialty Trade ContractorsTerm LoanPrime plus 6.5%10/16/202910.3 10.3 10.3 — %
James Clark and Company Inc.8885 Haven Ave, Ste 120, Rancho Cucamonga, CA 91730Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%10/22/202910.3 10.3 10.3 — %
Sean McNamara5639 Wood Ln, Allentown, PA 18106Nonstore RetailersTerm LoanPrime plus 6.5%11/14/202910.4 10.4 10.4 — %
The Pinnacle Group105 Springside Dr, Akron, OH 44333Social AssistanceTerm LoanPrime plus 6.5%11/14/202910.4 10.4 10.4 — %
Standard Capital Corp. 2349 Wessington Dr, Virginia Beach, VA 23456Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%12/5/202910.5 10.5 10.5 — %
Scott’s Hardware Inc200 Tuckerton Rd, Medford, NJ 08055Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 6.5%12/6/202910.4 10.4 10.4 — %
HADD Corp364 Rugby Rd, Cedarhurst, NY 11516Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/17/202910.4 10.4 10.4 — %
La Tradicion Cubana Inc.9357 S.W. 40th St, Miami, FL 33165Miscellaneous Store RetailersTerm LoanPrime plus 6.5%12/20/202910.5 10.5 10.5 — %
All Modes Transportation and Logistics4313 Collingtree Dr, Rockledge, FL 32955Support Activities for TransportationTerm LoanPrime plus 6.5%2/14/203010.6 10.6 10.6 — %
 Flex Beauty Labs LLC   7512 Dr. Phillip Blvd, Orlando, FL 32819Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 6.5%11/24/203010.9 10.9 10.9 — %
 Dearly Loved Counseling LLC   14052 N Dale Mabry Hwy, Ste 215, Tampa, FL 33618Social AssistanceTerm LoanPrime plus 6.5%11/24/203011.3 11.3 11.3 — %
Diane's Accounting Service119 E Haywood St, England, AR 72046Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/3/203011.4 11.4 11.4 — %
Combs Creative LLC157 Antler Ridge Circle,, Nashville, TN 37214Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/4/20304.5 4.5 4.5 — %
Travel with Love, LLC8465 W Sahara Ave, Ste 111, Las Vegas, NV 89117Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/4/20304.5 4.5 4.5 — %
Jamali LLC2741 Raceway Fairfield West, Pensacola, FL 32503Food Services and Drinking PlacesTerm LoanPrime plus 6.5%12/11/203011.4 11.4 11.4 — %
Donald W. Harris1625 US-59 N, Linden, TX 75563Warehousing and StorageTerm LoanPrime plus 6.5%12/11/203011.4 11.4 11.4 — %
David Benson LLC1422 Euclid Ave, Cleveland, OH 44115Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/16/203011.4 11.4 11.4 — %
Savannah Area Language & Culture Exchange, LLC6 Dovetail Crossing, Savannah, GA 31419Educational ServicesTerm LoanPrime plus 6.5%12/16/203011.4 11.4 11.4 — %
Vege Investments, LLC26400 SW 177th Ave, Homestead, FL 33031Gasoline StationsTerm LoanPrime plus 6.5%12/16/203011.4 11.4 11.4 — %
ASIL Ventures, LLC4354 N Bell Ave, Apt G2,, Chicago, IL 60618Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/22/20303.9 3.9 3.9 — %
166
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
SPECTRUM DYNAMICS, INC27727 Dalton Bluff Court, Katy, TX 77494Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/23/203011.4 11.4 11.4 — %
KCL Business Service Inc1042 San Fernando Rd., San Fernando, CA 91340Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/23/203011.4 11.4 11.4 — %
Chris' Angels Cleanning Service LLC2090 Dunwoody Club Dr, Sandy Springs, GA 30350Administrative and Support ServicesTerm LoanPrime plus 6.5%12/23/203011.4 11.4 11.4 — %
Tiki Torch Liquors101 Dallas St., Talihima, OK 74571Food and Beverage StoresTerm LoanPrime plus 6.5%12/23/203011.4 11.4 11.4 — %
Austen Felder Holdings23642 Hwy 25, Franklinton, LA 70438Personal and Laundry ServicesTerm LoanPrime plus 6.5%1/18/203111.5 11.5 11.5 — %
Diamond Ridge Professionals 8629 Mesquite Circle, Magna, UT 84044Construction of BuildingsTerm LoanPrime plus 6.5%1/19/203117.2 17.2 17.2 — %
Centre for Autism Treatment13090 Sundown Rd, Victorville, CA 92392Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/20/203117.2 17.2 17.2 — %
Andrew’s Spotless Cleaning LLC 1604 Marcella Dr, Covington, KY 41011Administrative and Support ServicesTerm LoanPrime plus 6.5%1/22/203117.2 17.2 17.2 — %
Wild Thing Accounting & Tax LLC 805 NE 190th Ave, Portland, OR 97230Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/22/203117.2 17.2 17.2 — %
Wild Wellness LLC151 Lake St, Lancaster, OH 43130Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%1/22/20317.6 7.6 7.6 — %
VIIXVII Sewing Studio LLC  227 E Girard Ave, Philadelphia, PA 19125Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 6.5%1/22/203112.2 12.2 12.2 — %
Skypie Studio and Crafts LLC  933 Mary Ave, Opelousas, LA 70570Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/22/203116.5 16.5 16.5 — %
Jazma Wise110 Golden Pine Rd SW, Austell, GA 30168Personal and Laundry ServicesTerm LoanPrime plus 6.5%1/28/203111.0 11.0 11.0 — %
uniguide Media LLC105 Pearl St, Sausalito, CA 94965Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%2/11/203117.3 17.3 17.3 — %
Alima Mandiang242 E. Claremont Rd, Philadelphia, PA 19120Personal and Laundry ServicesTerm LoanPrime plus 6.5%2/17/20316.9 6.9 6.9 — %
Benevolent Family Services LLC522 S Independence Blvd, Ste 201, Virginia Beach, VA 23452Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%3/15/203117.5 17.5 17.5 — %
INB Enterprise LLC7761 Diamondback Dr, College Park, MD 20742Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%3/15/203117.5 17.5 17.5 — %
Blasco Tire960 Memorial Dr, Griffin, GA 30223Motor Vehicle and Parts DealersTerm LoanPrime plus 6.5%3/24/203117.4 17.4 17.4 — %
Stephanie Doty82 Diggins Dr, Folsom, CA 95630Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%4/14/203110.3 10.3 10.3 — %
Lockett Trucking and Transport LLC612 Colebridge Dr, Blacklick, OH 43004Truck TransportationTerm LoanPrime plus 6.5%4/14/203117.5 17.5 17.5 — %
RV Solar LLC3442 E Bulk Ln, Oak Creek, WI 53154Specialty Trade ContractorsTerm LoanPrime plus 6.5%4/14/203117.5 17.5 17.5 — %
167
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Foy Commerce LLC  1725 Park Ln S, Ste 2,, Jupiter, FL 33458Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/5/203117.6 17.6 17.6 — %
JERAGARDENS WEDDING RENTALS LLC  5842 South 1150 West, Ogden, UT 84405Rental and Leasing ServicesTerm LoanPrime plus 6.5%7/20/203117.9 17.9 17.9 — %
Basha Home Improvements LLC41 Van Houten Ave, Jersey City, NJ 07305Construction of BuildingsTerm LoanPrime plus 6.5%7/21/20317.3 7.3 7.3 — %
Tarun LLC DBA signature wine and liquor  325 South Limestone, Lexington, KY 40508Food and Beverage StoresTerm LoanPrime plus 6.5%7/23/203117.8 17.8 17.8 — %
C4 Technologies Inc  171 C Ave, Ste C, Coronado, CA 92118Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/6/203117.9 17.9 17.9 — %
Dennis Hair Studio Inc.1566 Union Turnpike, New Hyde Park, NY 11040Personal and Laundry ServicesTerm LoanPrime plus 6.5%9/13/203118.0 18.0 18.0 — %
East Side Muay Thai LLC2135 General Booth Blvd, Virginia Beach, VA 23454Educational ServicesTerm LoanPrime plus 6.5%3/17/203212.4 12.4 12.4 — %
Ramay Consulting Inc12 Lone Pine Trail Loop, High Rolls, NM 88325Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%3/17/203224.8 24.8 24.8 0.01 %
GAIA Inc. DBA Touchstone Real Estate Group513 1st St, Cheney, WA 99004Real EstateTerm LoanPrime plus 6.5%3/23/203224.8 24.8 24.8 0.01 %
Early Care Evolution823 Roget Way, Lawrenceville, GA 30045Educational ServicesTerm LoanPrime plus 6.5%3/23/203218.3 18.3 18.3 — %
Lehigh Auto Sales and Service LLC826 Hanover Ave, Allentown, PA 18109Motor Vehicle and Parts DealersTerm LoanPrime plus 6.5%3/23/203224.8 24.8 24.8 0.01 %
Rella Rells Solutions LLC15401 Delahunty Ln, Pflugerville, TX 78660Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 6.5%3/28/20325.4 5.4 5.4 — %
Chantay Richards LLC19800 Hawthorne Blvd, Torrance, CA 90503Personal and Laundry ServicesTerm LoanPrime plus 6.5%3/28/203224.8 24.8 24.8 0.01 %
SHIELD TRANSPORTATION INC.9739 S Harlem Ave. Unit 3E, Chicago Ridge, IL 60415Transit and Ground Passenger TransportationTerm LoanPrime plus 6.5%3/28/203224.8 24.8 24.8 0.01 %
Designer Golf Scorecards1014 US-19, Holiday, FL 34691Printing and Related Support ActivitiesTerm LoanPrime plus 6.5%4/1/203225.0 25.0 25.0 0.01 %
Jon Pratt Carpentry1405 Canton Ave, Milton, MA 02186Specialty Trade ContractorsTerm LoanPrime plus 6.5%4/1/203215.0 15.0 15.0 — %
Major's Service & Repair5329 Main Rd, Sweet Valley, PA 18656Repair and MaintenanceTerm LoanPrime plus 6.5%4/12/203212.5 12.5 12.5 — %
Jeremy's Handyman Service, LLC319 Spring Ln, Destin, FL 32541Repair and MaintenanceTerm LoanPrime plus 6.5%4/12/203215.0 15.0 15.0 — %
Royaltyzilla Associates LLC40315 Michigan Ave #99, Canton, MI 48188Support Activities for TransportationTerm LoanPrime plus 6.5%4/12/203224.9 24.9 24.9 0.01 %
CARMEN STOCKING LLC84122 Avendia Cedrus, Coachella, CA 92236Truck TransportationTerm LoanPrime plus 6.5%4/20/203224.9 24.9 24.9 0.01 %
Johnson Racing Suspension153 Northway Park Rd, Machesney Park, IL 61115Repair and MaintenanceTerm LoanPrime plus 6.5%4/27/203222.4 22.4 22.4 0.01 %
Valley Remodel and repair LLC1103 W Sam St, Kent, WA 98032Construction of BuildingsTerm LoanPrime plus 6.5%4/27/203224.9 24.9 24.9 0.01 %
168
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Gulfside Property Maintenance & Services LLC1503 Chat Holley Rd, Santa Rosa Beach, FL 32459Repair and MaintenanceTerm LoanPrime plus 6.5%4/27/203224.7 24.7 24.7 0.01 %
DA BUSINESS MANAGEMENT INC6700 Tampa Ave, Reseda, CA 91335Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%4/27/203224.9 24.9 24.9 0.01 %
Ryno Resumes1015 Grupp Rd, Des Peres, MO 63131Administrative and Support ServicesTerm LoanPrime plus 6.5%5/3/203215.0 15.0 15.0 — %
Blue Oaks Financial5716 Lonetree Blvd, Rocklin, CA 95765Educational ServicesTerm LoanPrime plus 6.5%5/3/203225.0 25.0 25.0 0.01 %
Semilla Baking Co LLC2310 McDuffie St, Houston, TX 77019Food ManufacturingTerm LoanPrime plus 6.5%5/10/203219.5 19.5 19.5 — %
Inner Light Healing1025 Reynolds Rd, Johnson City, NY 13790Educational ServicesTerm LoanPrime plus 6.5%5/10/203225.0 25.0 25.0 0.01 %
Originals and Organics LLC1902 Sussex Ln, Colorado Springs, CO 80909Clothing and Clothing Accessories StoresTerm LoanPrime plus 6.5%5/10/203225.0 25.0 25.0 0.01 %
Abundant Life Surrogacy2716 Rose Hill St, Boise, ID 83705Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%5/12/203225.0 25.0 25.0 0.01 %
The Feder Construction Company14 Manor Dr, Monsey, NY 10952Construction of BuildingsTerm LoanPrime plus 6.5%5/13/203225.0 25.0 25.0 0.01 %
Cordurouy LLC665 Valley Dr, Hermosa Beach, CA 90254Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/18/203214.0 14.0 14.0 — %
EMC2 Mechanical Solutions LLC10375 Plum Tree Cir, Hales Corners, WI 53130Specialty Trade ContractorsTerm LoanPrime plus 6.5%5/19/203212.5 12.5 12.5 — %
Blount Auto Market LLC355 E Lanier Ave, Fayetteville, GA 30214Motor Vehicle and Parts DealersTerm LoanPrime plus 6.5%5/19/203225.0 25.0 25.0 0.01 %
Hope Restored Counseling Services, PLLC610 N Montana St, Dillon, MT 59725Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%5/19/203225.0 25.0 25.0 0.01 %
ESG International, Inc.8520 Allison Pointe Blvd, Indianapolis, IN 46250Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/20/203225.0 25.0 25.0 0.01 %
Optimal Health Acupuncture18840 SW Boones Ferry Rd, Tualatin, OR 97062Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%5/23/203225.0 25.0 25.0 0.01 %
DRKSL LLC127 E 59th St, 2nd Floor , Ste 6, New York, NY 10022Personal and Laundry ServicesTerm LoanPrime plus 6.5%5/24/203225.0 25.0 25.0 0.01 %
Roam Overland Vehicles LLC12308 NE 56th St, Vancouver, WA 98682Repair and MaintenanceTerm LoanPrime plus 6.5%5/24/203220.0 20.0 20.0 0.01 %
Grade A Computer Services LLC3347 Wickham Ave, Bronx, NY 10469Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/25/203212.5 12.5 12.5 — %
ACES of Brevard1430 Glendale Ave NW, Palm Bay, FL 32907Social AssistanceTerm LoanPrime plus 6.5%5/26/203212.5 12.5 12.5 — %
Scale Your Genius90 Pearl St., Denver, CO 80203Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/31/203220.5 20.5 20.5 0.01 %
Que Duong LLC6 W. 126th St, Apt 5F, New York, NY 10027Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/3/203217.5 17.5 17.5 — %
805 Transportation LLC132 Easy St, Buellton, CA 93427Transit and Ground Passenger TransportationTerm LoanPrime plus 6.5%6/3/203225.0 25.0 25.0 0.01 %
169
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
FOOTHILL FEED AND MERCANTILE, LLC1330 GEIGER GRADE Rd, RENO, NV 89521Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 6.5%6/7/203219.5 19.5 19.5 — %
JMichelles620 Windham St, Petersburg, VA 23803Food Services and Drinking PlacesTerm LoanPrime plus 6.5%6/7/20325.9 5.9 5.9 — %
MFT Solutions110 E 43rd St, Boise, ID 83714Repair and MaintenanceTerm LoanPrime plus 6.5%6/8/203215.0 15.0 15.0 — %
EDIA World LLC3345 SW 67th Ave, Miami, FL 33155Nonstore RetailersTerm LoanPrime plus 6.5%6/9/203225.0 25.0 25.0 0.01 %
Spend Less Store LLC516 E Juanita Ave, Ste 3, Mesa, AZ 85204Food and Beverage StoresTerm LoanPrime plus 6.5%6/14/203225.0 25.0 25.0 0.01 %
Clean Air Lawn Care Austin NW5404 Pendleton LN, Austin, TX 78723Administrative and Support ServicesTerm LoanPrime plus 6.5%6/14/203210.0 10.0 10.0 — %
Signature Nails11505 NE Fourth Plain Blvd, Ste F3, Vancouver, WA 98662Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/14/203215.0 15.0 15.0 — %
SM CAR SALES2340 Royal Ln,, Dallas, TX 75229Motor Vehicle and Parts DealersTerm LoanPrime plus 6.5%6/16/203225.0 25.0 25.0 0.01 %
YDK Enterprise LLC115 Mowbray Dr, Kew Gardens, NY 11415Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/17/203225.0 25.0 25.0 0.01 %
Tocino Strategies LLC7133 E Plata Ave, Mesa, AZ 85212Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/23/203225.0 25.0 25.0 0.01 %
Penny Almond, LPC, LLC1401 Malvern Ave Ste 260, Hot Springs, AR 71901Social AssistanceTerm LoanPrime plus 6.5%6/23/203225.0 25.0 25.0 0.01 %
GRIMES DAY CARE5231 Oxford Ave, Philadelphia, PA 19124Social AssistanceTerm LoanPrime plus 6.5%6/23/203212.5 12.5 12.5 — %
Perfect Day NY LLC384 Knickerbocker Ave, Brooklyn, NY 11237Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 6.5%6/23/203224.1 24.1 24.1 0.01 %
JDT Pickup and Delivery Service LLC2870 Gonzaga Ave, Richmond, CA 94806Couriers and MessengersTerm LoanPrime plus 6.5%6/24/203225.0 25.0 25.0 0.01 %
SHY Beauty Inc.5458 N Ashland Ave, Chicago, IL 60640Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/29/203222.5 22.5 22.5 0.01 %
Viking Athletics635 New Park Ave, West Hartford, CT 06110Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 6.5%6/29/203225.0 25.0 25.0 0.01 %
Gyer Medical Billing26210 Christen Canyon Ln, Richmond, TX 77406Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/29/203220.0 20.0 20.0 0.01 %
Paris Woodhull Illustrations112 S Gay St, Knoxville, TN 37902Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%6/30/203220.0 20.0 20.0 0.01 %
Art of Touch4415 NE Sandy Blvd, Portland, OR 97213Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/30/20329.0 9.0 9.0 — %
2XP VENTURES LLC4670 Azalea Dr, Naples, FL 34119Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/30/203222.5 22.5 22.5 0.01 %
Westside Quick Services9018 Cambridge Ave N, Minneapolis, MN 55443Administrative and Support ServicesTerm LoanPrime plus 6.5%6/30/203225.0 25.0 25.0 0.01 %
Special Events Staffing1015 N Lake Ave, Ste 205, Pasadena, CA 91104PPPTerm Loan1.0%6/1/202254.6 54.6 54.6 0.01 %
170
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
DANIELLE|TATE347 Bianco Ridge Ave, Las Vegas, NV 89183PPPTerm Loan1.0%3/31/202620.8 20.8 20.8 0.01 %
Total SBA Guaranteed Accrual Investments$21,374.8 $21,374.8 $22,971.8 5.82 %


171
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Non-Accrual Investments (4b)
MIT LLC(*)11 North Peach ST., Medford, OR 97504Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/31/204213.2 13.2 13.2 — %
Neville Galvanizing, Inc(*)2983 Grand Ave, Pittsburgh, PA 15225Fabricated Metal Product ManufacturingTerm LoanPrime plus 6.00%12/15/2042707.1 707.1 707.1 0.18 %
Bloomquist Communications Inc.(*)131 East Trinity Place, Decatur, GA 30030Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%10/31/2026105.2 105.2 105.2 0.03 %
The Country House Restaurant, LLC and Pelton Real Estate, LLC(*)677 US Route 7, Pittsford, VT 05763Food Services and Drinking PlacesTerm LoanPrime plus 0%6/30/2042141.9 141.9 141.9 0.04 %
CIS BIG DOG, LLC(*)8920 US HWY, 62 WEST, Cynthiana, KY 41031Administrative and Support ServicesTerm LoanPrime plus 2.75%9/19/2027140.0 140.0 140.0 0.04 %
Johnny's Boy LLC(*)127 East King St, Martinsburg, WV 25401Food Services and Drinking PlacesTerm LoanPrime plus 0%6/7/204493.2 93.2 93.2 0.02 %
GT Performance Plus Inc(*)4210 College St, Beaumont, TX 77707Motor Vehicle and Parts DealersTerm LoanPrime plus 0%6/11/2044281.4 281.4 281.4 0.07 %
Destination Hope, Inc, TrilogyTreatment & Wellness Center, Inc(*)6555 NW 9th Ave, Fort Lauderdale, FL 33309Ambulatory Health Care ServicesTerm LoanPrime plus 0%12/30/202977.0 77.0 77.0 0.02 %
Moon Group, Inc.(*)145 Moon Rd, Chesapeake City, MD 21915Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%6/27/20293,248.8 3,248.8 3,248.8 0.82 %
Clowers Trucking by Faith LLC(*)705 E Brookwood PL, Valdosta, GA 31601Truck TransportationTerm LoanPrime plus 0%5/23/202910.2 10.2 10.2 — %
Hackstaff Restaurants (*)248 W 1st. St Ste 201, Reno, NV 89501Food Services and Drinking PlacesTerm LoanPrime plus 0%7/15/2029402.2 402.2 402.2 0.10 %
Total SBA Guaranteed Non-Accrual Investments$5,220.2 $5,220.2 $5,220.2 1.32 %
Total SBA Guaranteed Investments$26,595.0 $26,595.0 $28,192.0 7.15 %
Total SBA Unguaranteed and Guaranteed Investments$496,994.0 $496,994.0 $488,173.4 123.73 %
172
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Controlled Investments (5) (22)
Automated Merchant Services, Inc.(*,#) (7) (21)12230 Forest Hill Blvd., Wellington, FL 33414Data processing, Hosting, and Related Services100% Common Stock—%— — — — — %
CDS Business Services, Inc.(*,#) (8)1985 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Common Stock—%— — 4,428.0 — — %
Line of Credit5.5%Dec 202320,300.0 20,300.0 6,542.0 1.66 %
Newtek Technology Solutions, Inc.(#) (6)1904 W. Parkside Lane Phoenix, AZ 85027Data processing, Hosting, and Related Services100% Common Stock—%— — 19,903.7 33,000.0 8.36 %
Line of Credit10%Nov 202810,540.0 11,000.0 11,000.0 2.79 %
Newtek Insurance Agency, LLC(*,#) (13)1981 Marcus Ave., Lake Success, NY 11042Insurance Carriers and Related Activities100% Membership Interest—%— — 2,035.0 3,500.0 0.89 %
PMTWorks Payroll, LLC(*,#) (9)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%— — 5,213.1 — — %
Term Loan10%Sept 2022435.0 435.0 435.0 0.11 %
Term Loan10%May 2023750.0 750.0 750.0 0.19 %
Term Loan12%May 2023500.0 500.0 500.0 0.13 %
Term Loan10%July 20221,000.0 1,000.0 1,000.0 0.25 %
Small Business Lending, LLC(*,#) (12)1981 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%— — 4,163.0 6,300.0 1.60 %
Term Loan10%June 2023400.0 400.0 400.0 0.10 %
ADR Partners, LLC dba banc-serv Partners, LLC(*,#) (19)8777 Purdue Rd, Indianapolis, IN 46268Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%— — 6,199.9 — — %
Newtek Merchant Solutions, LLC(#) (11)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%— — 16,438.0 113,500.0 28.77 %
Mobil Money, LLC(#) (17)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%— — 2,980.0 7,000.0 1.77 %
Newtek Business Lending, LLC(#) (10)14 East Washington St., Orlando, FL 32801
Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%— — 50,206.4 65,206.0 16.53 %
Newtek Conventional Lending, LLC(#) (18) (23)1981 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities50% Membership Interest—%— — 17,162.0 17,390.0 4.41 %
Titanium Asset Management, LLC(*,#) (14)1981 Marcus Ave., Lake Success, NY 11042Administrative and Support ServicesTerm Loan10%March 2023700.0 700.0 101.0 0.03 %
173
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Controlled Investments (5) (22)
100% Membership Interest—%— — — — — %
Excel WebSolutions, LLC(*,#) (15)888 East Brighton Ave. Syracuse, NY 13205Data processing, Hosting, and Related ServicesTerm Loan10%June 2023159.2 159.2 — — %
100% Membership Interest—    — %
POS on Cloud, LLC(#) (20)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related ServicesTerm Loan10%Sept 20231,300.0 1,300.0 1,300.0 0.33 %
50.14% Membership Interest— — — — — %
Total Controlled Investments$36,084.2 $165,273.4 $267,924.0 67.91 %
174
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2022
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Non-Control Investments (22)
EMCAP Loan Holdings, LLC(+,#) (16)1140 Reservoir Ave., Cranston, RI 02920Securities, Commodity Contracts, and Other Financial Investments and Related Activities4.67% Membership Interest—%— $— $1,000.0 $1,000.0 0.25 %
Total Non-Control Investments$ $1,000.0 $1,000.0 0.25 %
Total Investments$533,078.2 $663,267.4 $757,097.4 191.90 %

^ Investment has been pledged as collateral under the Securitization Trusts.
* Non-income producing security.
# Fair value determined using significant unobservable inputs.
+ Restricted security. The Company’s investments generally are acquired in private transactions exempt from registration under the Securities Act and, therefore, generally are subject to limitations on resale, and may be deemed to be “restricted securities” under the Securities Act. However, unless otherwise indicated, such securities may be sold in certain transactions (generally to qualified institutional buyers) and remain exempt from registration.
(1) Newtek values each unguaranteed portion of SBA 7(a) accrual loans (“Loan”) using a discounted cash flow analysis which projects future cash flows and incorporates projections for Loan pre-payments and Loan defaults using historical portfolio data. The data predicts future prepayment and default probability on curves which are based on Loan age. The recovery assumption for each Loan is specific to the discounted valuation of the collateral supporting that Loan. Each Loan’s cash flow is discounted at a rate which approximates a market yield. The Loans were originated under the SBA 7(a) program and conform to the underwriting guidelines in effect at their time of origination. Newtek has been awarded PLP status from the SBA. Portions of these Loans are not guaranteed by the SBA. Individual loan participations can be sold to institutions which have been granted an SBA 750 license. Loans can also be sold as a pool of loans in a security form to qualified investors.
(2) The interest rates in effect on our loans as of June 30, 2022 are based off a Prime Rate equal to 3.50%, with the exception of PPP loans. The SBA reimburses the Company for originating PPP loans and such SBA reimbursements are included as interest income on PPP loans. The 1% interest rate shown for PPP loans is the rate that would be in effect if the PPP loans were not forgiven by the SBA. See NOTE 2—SIGNIFICANT ACCOUNTING POLICIES.
(3) Newtek values non-accrual SBA 7(a) loans using a discounted cash flow analysis of the underlying collateral which supports the loan. Management’s estimate of the net recovery of collateral, (fair value less cost to liquidate) is applied to the discounted cash flow analysis based upon a time to liquidate estimate. Modified loans are valued based upon current payment streams and are re-amortized at the end of the modification period.
(4a) Newtek values guaranteed accrual SBA 7(a) loans using the secondary SBA 7(a) market as a reference point. Newtek routinely sells accrual SBA 7(a) loans into this secondary market. Guaranteed portions of SBA 7(a) loans partially funded as of the valuation date are valued using level two inputs as disclosed in NOTE 6—FAIR VALUE MEASUREMENTS.
(4b) Newtek values guaranteed non-accrual loans based on the estimated recovery under the SBA guarantee, which is at cost.
(5) Controlled Investments are disclosed above as equity investments (except as otherwise noted) in those companies that are “Controlled Investments” of the Company as defined in the Investment Company Act of 1940. A company is deemed to be a “Controlled Investment” of Newtek Business Services Corp. if Newtek Business Services Corp. or its subsidiaries owns more than 25% of the voting securities of such company. See NOTE 4—TRANSACTIONS WITH AFFILIATED COMPANIES AND RELATED PARTY TRANSACTIONS in the accompanying notes to the consolidated financial statements for transactions during the six months ended June 30, 2022 with affiliates the Company is deemed to control.
175
See accompanying notes to consolidated financial statements.


(6) Newtek Technology Solutions, Inc. (“NTS”) is a wholly-owned portfolio company that provides website hosting, dedicated server hosting, cloud hosting, web design and development, internet marketing, ecommerce, data storage, backup and disaster recovery, and other related services; 100% owned by NBSH Holdings, LLC (a subsidiary of Newtek Business Services Holdco 1, Inc., a subsidiary of Newtek Business Services Corp.). International Professional Marketing, Inc. (“IPM”) and Sidco, LLC d/b/a Cloud Nine Services (“SIDCO”) were wholly-owned portfolio companies which consult, strategize, design, and implement technology solutions for enterprise and commercial clients across the U.S. On January 1, 2021, the Company contributed its ownership of IPM and SIDCO to NTS, and IPM and SIDCO became subsidiaries of NTS. In July 2021, IPM merged with and into NTS, with NTS as the surviving entity. The Schedule of Investments shows SIDCO under NTS.
(7) 96.11% owned by Wilshire Partners, LLC (a subsidiary of Newtek Business Services Corp.), 3.89% owned by Newtek Business Services Corp.
(8) CDS Business Services, Inc. d/b/a Newtek Business Credit Solutions, a wholly-owned portfolio company that is part of the Company’s business finance platform, providing receivables and inventory financing to small and medium size businesses; 50.15% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.) and 49.85% owned by Wilshire Holdings 1, Inc. (a subsidiary of Newtek Business Services Corp.).
(9) PMTWorks Payroll, LLC d/b/a Newtek Payroll and Benefits Solutions (“NPS” or “PMT”), a wholly-owned portfolio company which offers an array of industry standard payroll management, payment and tax reporting services to SMBs; 25% owned by The Whitestone Group, LLC, (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.), 65% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.), and 10% owned by Exponential Business Development Co., Inc. (a subsidiary of Newtek Business Services Corp.).
(10) Newtek Business Lending, LLC (“NBL”), a wholly-owned portfolio company that provides SBA 504 loans and financing to the SMB market for the acquisition of fixed assets and loan origination services to other parts of the Company’s business finance platform; 100% owned by Newtek Business Services Holdco 6, Inc. (a subsidiary of Newtek Business Services Corp.).
(11) Newtek Merchant Solutions, LLC (“NMS”) is a wholly-owned portfolio company that markets credit and debit card processing services, check approval services, processing equipment, and software; 100% owned by NBSH Holdings, LLC (a subsidiary of Newtek Business Services Holdco 1, Inc., a subsidiary of Newtek Business Services Corp.).
(12) Small Business Lending, LLC (“SBL”) is a wholly-owned portfolio company that is part of the Company’s business finance platform;100% owned by Newtek LSP Holdco, LLC (a subsidiary of Wilshire Holdings I, Inc. and Newtek Business Services Holdco 5, Inc., both subsidiaries of Newtek Business Services Corp.). SBL provides third-party loan servicing for SBA and non-SBA loans, and provides lending institutions with outsourced solutions for the entire SBA lending process, including credit analysis, structuring and eligibility, packaging, closing compliance and servicing. In addition, SBL provides loan and servicing solutions to other parts of the Company’s business finance platform.
(13) Newtek Insurance Agency, LLC (“NIA”), a wholly-owned portfolio company which is a retail and wholesale brokerage insurance agency, licensed in all 50 states, specializing in the sale of commercial and health/benefits lines insurance products to the small and medium size business market as well as various personal lines of insurance; 100% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.).
(14) 50% owned by Exponential Business Development Co., Inc. (a subsidiary of Newtek Business Services Corp.), 47.8% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.) and 2.2% owned by Wilshire New York Advisers II, LLC (a subsidiary of Newtek Business Services Corp.).
(15) 100% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.)
(16) 4.67% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.). The initial acquisition date for EMCAP Loan Holdings, LLC was April 25, 2018.
(17) Mobil Money, LLC (“Mobil Money”), a wholly-owned portfolio company that provides payment processing for a merchant portfolio of taxi cabs; 100% owned by Newtek Business Services Holdco 4, Inc. (a subsidiary of Newtek Business Services Corp.).
176
See accompanying notes to consolidated financial statements.


(18) On May 20, 2019, the Company and its joint venture partner launched Newtek Conventional Lending, LLC (“NCL”) to provide non-conforming conventional commercial and industrial term loans to U.S. middle-market companies and small businesses. NCL is 50% owned by Newtek Commercial Lending, Inc. (a wholly-owned subsidiary of Newtek Business Services Corp.) and 50% owned by Conventional Lending TCP Holding, LLC (a wholly-owned, indirect subsidiary of BlackRock TCP Capital Corp. (NASDAQ:TCPC)). Deemed an investment company under the 1940 Act.
(19) 100% owned by Newtek LSP Holdco, LLC (a subsidiary of Wilshire Holdings I, Inc. and Newtek Business Services Holdco 5, Inc., both subsidiaries of Newtek Business Services Corp.).
(20) 50.13% owned by Newtek Business Services Holdco 3, Inc. (a subsidiary of Newtek Business Services Corp.) and 49.87% owned by multiple non-affiliates.
(21) Zero cost basis is reflected as the portfolio company was organized by the Company and incurred internal legal costs to organize the entity and immaterial external filing fees which were expensed when incurred.
(22) All of the Company’s investments are in entities which are organized under the Laws of the United States and have a principal place of business in the United States.
(23) Non-qualifying asset under the Investment Company Act of 1940, as amended. Under the Investment Company Act of 1940, as amended, the Company may not acquire any non-qualifying assets unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets. At June 30, 2022, 6.8% of total assets are non-qualifying assets.

As of June 30, 2022, the federal tax cost of investments was $663.3 million resulting in estimated gross unrealized gains and losses of $169.2 million and $67.0 million, respectively.


177
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
3815 Media, Inc.(#)3201 Peachtree Corners Circle, Peachtree Corners, GA 30092Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/30/2031$375.0 $375.0 $388.9 0.13 %
Inspired Education 2 LLC dba Happy Days 2(#)221 Edinburg Rd, Mercerville, NJ 08619Social AssistanceTerm LoanPrime plus 2.75%12/29/2046250.0 250.0 260.4 0.08 %
3 Generations LLC(#)2800 Baton Rouge Rd, Williamstown, KY 41097Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/20329.2 9.2 9.5 — %
Bright Horizons Preschool, LLC(#)275 Enterprise Dr, Valdosta, GA 31601Social AssistanceTerm LoanPrime plus 2.75%12/29/2046220.3 220.3 241.4 0.08 %
Hacienda Car Wash Inc.(#)2400 S Goliad St., Rockwall, TX 75087Repair and MaintenanceTerm LoanPrime plus 2.75%12/29/203110.0 10.0 9.6 — %
The Queen Ready Mix, Inc.(#)8702 Liberty Rd, Houston, TX 77028Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%12/29/2031502.5 502.5 502.2 0.16 %
Happy Wheels Charter LLC(#)4 Old Elm St., Salusbury, MA 01952Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/29/2046180.0 180.0 199.0 0.06 %
Henry j Fishman MVPC(#)2021 K St. Ste 400 NW, Washington, DC 20006Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/29/2031337.5 337.5 295.5 0.10 %
Altitude Roofing LLC(#)2909 N Tindle Blvd, Flagstaff, AZ 86004Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/203180.0 80.0 68.6 0.02 %
CPH Milpitas LLC dba Curry Pizza House(#)1806 Milmont Dr, Milpitas, CA 95035Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/29/203187.5 87.5 75.5 0.02 %
Lillie Mae's Place LLC(#)57 Main St., East Haven, CT 06512Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/29/204699.0 99.0 105.1 0.03 %
Calderon Insurance Agency dba California Liberty Insurance(#)5127 Franklin Blvd, #3, Sacramento, CA 95820Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/29/2046181.2 181.2 191.5 0.06 %
Arclight Industries LLC(#)340 Quail Run Rd,, Venetia, PA 15367Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/29/204637.5 37.5 41.4 0.01 %
Kosovar Corporation dba La Vista Ristorante Italiano(#)355 Smith Ridge Rd, South Salem, NY 10590Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/29/2046340.0 340.0 380.4 0.12 %
Mr. Electric of Anderson(#)138 Dorchester St., Greenwood, SC 29646Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/203120.3 20.3 17.5 0.01 %
Clean Pro 1, LLC(#)385 Boston Post Rd, Orange, CT 06477Construction of BuildingsTerm LoanPrime plus 2.75%5/29/204798.0 98.0 110.7 0.04 %
RV Liquidation Center dba RV'S-4-Less(#)984 W Shaw Ave, Clovis, CA 93612Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/29/2031346.3 346.3 305.5 0.10 %
Eastern Aero Marine, Inc, dba EAM Worldwide(#)5502 NW 37th Ave, Miami, FL 33142Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/29/20461,250.0 1,250.0 1,411.3 0.46 %
High Q Automotive Consulting andRide 4 U LLC(#)747 N State Rd 7, Plantation, FL 33317Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/29/20461,218.8 1,218.8 1,332.6 0.43 %
Champion Volleyball Club of Houston LLC(#)19418 Pinehurst Trail Dr, Humble, TX 77346Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/29/2046161.5 161.5 176.0 0.06 %
NORTHCOMM LLC dba RFS Construction(#)213 Cascade View Court, East Wenatchee, WA 98802Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/203175.0 75.0 64.3 0.02 %
Beyond the Numbers CPAs Inc(#)1004 Lewis Ave, Billings, MT 59102Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/2046140.0 140.0 150.3 0.05 %
178
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Monticello Corporation dba Reid Super Save Market #3 and Millclem Cor(#)600 Preston Ave, Charlottesville, VA 22903Food and Beverage Stores Term LoanPrime plus 2.75%12/29/203170.0 70.0 74.1 0.02 %
Pole Dance Carolinas LLC dba PoleFit Carolinas(#)9826 Gilead Rd, C -200, Hunterville, NC 28078Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/29/203141.3 41.3 35.4 0.01 %
Salon Sora LLC and Frank Marino(#)1675 North Military Trail, Boca Raton, FL 33433Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/29/203186.5 86.5 74.2 0.02 %
Nova Engineering Inc(#)4373 Viewridge Ave, Ste A, San Diego, CA 92123Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/203150.0 50.0 42.9 0.01 %
Oh Crumb On!, Inc.(#)57 East 3rd Ave, Spring Grove, PA 17362Couriers and MessengersTerm LoanPrime plus 2.75%12/29/20317.5 7.5 6.4 — %
Hacienda Car Wash Inc.(#)2400 S Goliad St., Rockwall, TX 75087Repair and MaintenanceTerm LoanPrime plus 2.75%12/29/204652.0 52.0 57.6 0.02 %
The Dance Affair, Inc(#)850 N Winchester Blvd, San Jose, CA 95128Educational ServicesTerm LoanPrime plus 2.75%12/29/20318.1 8.1 6.9 — %
Unique Surveillance LLC and Fast Guard Service Worldwide, LLC(#)925 South 21st Ave, Hollywood, FL 33020Administrative and Support ServicesTerm LoanPrime plus 2.75%12/28/20311,226.0 1,226.0 1,075.8 0.35 %
Lotus Care LLC(#)14000 Sunfish Lake Blvd, NW, MN 55303Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/28/203122.5 22.5 19.3 0.01 %
Shieldcoat Technologies Inc(#)308 Ellen Trout Dr, Lufkin, TX 75904Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%12/28/2046737.5 737.5 831.5 0.27 %
CS Concept Holdings, LLC and CS Holdings 409 South Main, LLC(#)4350 Canada Rd, :, Lakeland, TN 38002Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/28/203148.0 48.0 41.5 0.01 %
Freedom Construction LLC(#)2897 E Massengale Rd, Shelbyville, IN 46176Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/28/203110.8 10.8 10.1 — %
Alaska Demolition, LLC(#)2817 Rampart Dr, Anchorage, AK 99501Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/20461,250.0 1,250.0 1,387.5 0.45 %
Colorado Avocado LLC dba Toastique(#)11590 Ridgeline Dr, Colorado Springs, CO 80921Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/20328.8 8.8 9.3 — %
The Beginning Zone(#)13709 S. Wilkie Ave, Gardena, CA 90059Social AssistanceTerm LoanPrime plus 2.75%12/23/2046190.0 190.0 207.1 0.07 %
M-23 Mechanical Systems(#)2974 Betsy Way, San Jose, CA 95133Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/23/203158.8 58.8 50.4 0.02 %
Nyssa Mercantile LLC(#)119 Main St., Nyssa, OR 97913Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/23/203157.5 57.5 52.7 0.02 %
Nyssa Mercantile, LLC(#)119 Main St., Nyssa, OR 97913Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/23/204642.0 42.0 45.2 0.01 %
PKLoop Peer LLC(#)1051 Kaylie St., Grand Prairie, TX 75052Health and Personal Care Stores Term LoanPrime plus 2.75%12/23/203122.5 22.5 20.7 0.01 %
Sk8 House Virginia Beach LLC(#)600 Lynnhaven Pkwy, Virginia Beach, VA 23452Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/23/203115.8 15.8 13.5 — %
Riaz and Son Inc and Uddin Family Realty(#)100-15 94th Ave, Ozone Park, NY 11416Food and Beverage Stores Term LoanPrime plus 2.75%12/23/2046147.8 147.8 166.8 0.05 %
Outdoor Equipment Manufacturer, LLC(#)3520 NW 51st St., Miami, FL 33142Textile Product MillsTerm LoanPrime plus 2.75%12/23/203193.8 93.8 99.2 0.03 %
179
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
CNJ Services LLC(#)5519 Ironhorse Rd, North Chesterfield, VA 23234Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/23/203112.8 12.8 11.2 — %
LDI Energy Services, LLC(#)6519 103 West Ave, Tioga, ND 58852Support Activities for MiningTerm LoanPrime plus 2.75%12/22/2046273.3 273.3 301.1 0.10 %
Mobile Bottling Source LLC(#)611 Green Sage Way, las Vegas, NV 89138Administrative and Support ServicesTerm LoanPrime plus 2.75%12/22/2031187.5 187.5 165.2 0.05 %
C&C Contracting(#)10620 Southern Highlands Pkwy, Las Vegas, NV 89141Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/22/2031125.0 125.0 107.2 0.03 %
Rana N. Hassan, M.D P.C(#)71 Franklin Ave, Franklin Square, NY 11010Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/2031114.0 114.0 98.9 0.03 %
Plantation Shutter Co Inc(#)11704 Wilshire Blvd, Los Angeles, CA 90275Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/22/203187.5 87.5 75.0 0.02 %
The Handyman Clarksville, LLC(#)2727 Union Hall Rd, Clarksville, TN 37040Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/22/2031187.5 187.5 198.4 0.06 %
Kinly Signs Corporation(#)2485 County Rd 1, South Point, OH 45680Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/22/2046298.8 298.8 311.0 0.10 %
Hallmark Enterprises LLC(#)54 Furman Ave, Brooklyn, NY 11207Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/22/20311,250.0 1,250.0 1,082.0 0.35 %
Scott Hollingsworth Equipment Company(#)17621 Perkins Rd, Baton Rouge, LA 70810Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/22/203165.8 65.8 69.6 0.02 %
BYC - La Quinta LLC dba Broken Yolk Cafe(#)78430 CA-111, La Quinta, CA 92253Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/22/2046570.4 570.4 615.3 0.20 %
HHLM LLC(#)535 Shawmut Ave, Boston, MA 02118Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/22/203114.0 14.0 12.2 — %
LDI Energy Services, LLC dba LDI Excavation(#)6519 103 West Ave, Tioga, ND 58852Support Activities for MiningTerm LoanPrime plus 2.75%12/22/2031328.3 328.3 300.7 0.10 %
QUICK DROP IMPOUNDING, TOWING & RECOVERY, INC(#)2565 Lake Rockaway Rd SW, Conyers, GA 30012Support Activities for TransportationTerm LoanPrime plus 2.75%12/21/2046147.3 147.3 166.2 0.05 %
Alaska Industrial Paint, LLC and Endeavor Properties LLC(#)1301 North Post Rd, Anchorage, AK 99501Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/21/204725.0 25.0 28.2 0.01 %
Yours II Cosmetology Academy Inc(#)1416 W Columbia Ave, Battle Creek, MI 49015Educational ServicesTerm LoanPrime plus 2.75%12/21/2047823.8 823.8 930.0 0.30 %
360 GRIP AND ELECTRIC LLC and Julien Janigo(#)3500 Eagle Rock Blvd, Los Angeles, CA 90065Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/21/203182.5 82.5 73.8 0.02 %
Mercury Pharmacy Corporation(#)480 Chadbourne Rd, Fairfield, CA 94534Health and Personal Care Stores Term LoanPrime plus 2.75%12/21/2031187.5 187.5 160.8 0.05 %
Inobe LLC dba BLD2GO(#)1146 W Buckeye Rd, Phoenix, AZ 85007Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/21/204698.5 98.5 102.9 0.03 %
Lauren Taylor Beauty LLC dba Evolution Body Works(#)195 E 4th St. Ste 10, Long Beach, CA 90802Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/21/203178.8 78.8 73.4 0.02 %
Storm Trooper Transportation Corp(#)2205 W Highland Ave, San Bernardino, CA 92407Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2031786.3 786.3 680.6 0.22 %
Storm Trooper Transportation Corp(#)2205 W Highland Ave, San Bernardino, CA 92407Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2046463.8 463.8 513.6 0.17 %
Robo-Breaking New York(#)302A W 12th St, New York, NY 10014Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2031300.0 300.0 312.3 0.10 %
180
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Regal Express Corporation(#)4122 County Rd 516, Matawan, NJ 07747Truck TransportationTerm LoanPrime plus 2.75%12/20/2031134.2 134.2 115.0 0.04 %
Nextstep Counseling Services, LLC(#)1707 Linwood Dr, Paragould, AR 72450Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/20/203131.1 31.1 26.6 0.01 %
First Lone Star Pharmacy Group II, LLC dba Trinity Pharmacy(#)1925 East Rosemeade Pkwy, Carrollton, TX 75007Health and Personal Care Stores Term LoanPrime plus 2.75%12/20/2046138.9 138.9 143.0 0.05 %
Vidya Technologies LLC(#)2509 George Mason Dr, Virginia Beach, VA 23456Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/20/20318.0 8.0 6.8 — %
Theramove & Diagnostics LLC(#)110 West Rd, Towson, MD 21204Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/20/20318.7 8.7 8.6 — %
First Lone Star Pharmacy Group LLC(#)6901 Preston Rd, Dallas, TX 75205Health and Personal Care Stores Term LoanPrime plus 2.75%12/20/2031125.4 125.4 107.6 0.03 %
Unlimited Investors Group, Inc.(#)252 Aster Place, Hampstead, NC 28443Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/20/2031375.0 375.0 321.5 0.10 %
Northern Steel and Concrete, LLC, a Pennsylvania LLC,Northern Steel an(#)18 Hillcrest Lane, Willingboro, NJ 08046Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/17/20311,091.5 1,091.5 1,028.2 0.33 %
Ponce & Ponce, Inc(#)3015 NW 74th Ave, Miami, FL 33122Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/17/203175.0 75.0 64.3 0.02 %
SoCal Propane LLC(#)220 N San Jacinto St., Hemet, CA 92543Nonstore Retailers Term LoanPrime plus 2.75%12/17/2031340.0 340.0 359.7 0.12 %
LA TAQUERIA INC(#)10 Greenwich Ave, GREENWICH, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/17/203236.5 36.5 33.9 0.01 %
Venture Coffee Company, LLC dba Venture Roastery(#)13406 W Center Dr, Lakewood, CO 80228Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/17/203120.4 20.4 17.6 0.01 %
Maxwell, Hendry & Simmons LLC(#)1619 Jackson St., Fort Myers, FL 33901Real EstateTerm LoanPrime plus 2.75%12/17/2031152.5 152.5 130.8 0.04 %
MR3 LLC dba dba Union Fence(#)1340 Hartford Ave, Johnston, RI 02919Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/17/2046335.0 335.0 374.4 0.12 %
Logo Concepts LLC(#)1265 W 1275 North #2, Centerville, UT 84014Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%12/17/2031354.0 354.0 305.7 0.10 %
Leedann Properties LLC(#)534 Mill St SE, Gainesville, GA 30501Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/17/2046248.8 248.8 260.2 0.08 %
Brooker Construction LLC dba Sampson Tree Service(#)2170 SW Conant Ave, Port St. Lucie, FL 34953Administrative and Support ServicesTerm LoanPrime plus 2.75%12/17/2031268.4 268.4 236.8 0.08 %
VENDALL VENTURES LLC(#)25027 South Interstate, WaKeeney, KS 67672AccommodationTerm LoanPrime plus 2.75%12/17/2046274.5 274.5 298.0 0.10 %
Invisishield, L.L.C(#)6120 Louetta Rd, Houston, TX 77379Repair and MaintenanceTerm LoanPrime plus 2.75%12/17/203137.5 37.5 32.3 0.01 %
Techbee LLC dba TechBee Solutions(#)4900 Hopyard Rd, Pleasanton, CA 94588Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/17/203150.0 50.0 42.9 0.01 %
Milson Restaurants LLC dba El Chico Granbury(#)1151 E US Hwy 377, Ste #110, Granbury, TX 76048Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/203175.5 75.5 64.7 0.02 %
LGB Tax and Accounting LLC dba Loretta GriefBarbaro EA(#)2944 Valentine Pl, Wantagh, NY 11793Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/16/2046111.6 111.6 125.2 0.04 %
181
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
SEC LLC(#)4470 Sunset Blvd, Los Angeles, CA 90027Utilities Term LoanPrime plus 2.75%12/16/203172.0 72.0 62.4 0.02 %
JMJ Sales Group LLC(#)210 S. Linn Ave.,, Wentzville, MO 63385Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/16/203150.0 50.0 45.1 0.01 %
Sivalingam Medical Corporation, Inc dba First Valley Medical Group(#)44725 10th St W, Ste 210, Lancaster, CA 93534Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/16/2031803.5 803.5 688.9 0.22 %
Pool Logic Design and Construction Inc(#)277 W Allen Ave, San Dimas, CA 91773Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2031500.0 500.0 428.7 0.14 %
Throop Family Holdings Inc dba Rogue Metal & Supply(#)7130 Crater Lake Hwy, White City, OR 97503Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/16/2031212.5 212.5 195.7 0.06 %
Empowering Families Educational Services(#)504 W Baseline Rd, STE A, Glendora, CA 91740Educational ServicesTerm LoanPrime plus 2.75%12/16/20317.5 7.5 6.4 — %
Christopher C Copeland PA(#)8331 SE Royal St., Hobe Sound, FL 33455Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/203162.5 62.5 55.2 0.02 %
Avtek Integration Services, Inc(#)4733 122nd Ave N., Unit E, Pinellas Park, FL 33762Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/15/203168.8 68.8 64.2 0.02 %
The Great Gatsby Motel Inn Corporation(#)214 County Hwy 152, Northville, NY 12134AccommodationTerm LoanPrime plus 2.75%12/15/2046100.0 100.0 112.8 0.04 %
TSM New Beginnings(#)8850 W Sunset Rd, Las Vegas, NV 89148Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/15/203127.0 27.0 23.2 0.01 %
Aqua Salon and Spa LLC(#)6730 Post Rd, North Kingston, RI 02852Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/15/204681.3 81.3 89.5 0.03 %
Quandry Enterprises LLC dba Twinkle Toes Nanny(#)1600 E Sunrise Blvd, Fort. Lauderdale, FL 33304Social AssistanceTerm LoanPrime plus 2.75%12/15/20316.8 6.8 5.8 — %
Good Fortune Supermarket (Rhode Island) Corp(#)101 Cadillac Dr, Providence, RI 02907Food and Beverage Stores Term LoanPrime plus 2.75%12/15/2031650.0 650.0 664.3 0.21 %
Cooks BBQ Products dba Cooks International(#)7 World Trade Center, New York, NY 10006Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/15/20311,000.0 1,000.0 907.3 0.29 %
Erin Dewey dba Castle Rock Bakery(#)160 Huntington Ave, Ste A & B, Castle Rock, WA 98611Food ManufacturingTerm LoanPrime plus 2.75%12/14/203147.3 47.3 41.5 0.01 %
First Choice Brokerage Corporation First Choice Strategies LLC &First(#)822 A1A N, Ponte Vedra Beach, FL 32082Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/14/203163.0 63.0 54.0 0.02 %
CTS MANAGEMENT USA INC(#)17 Marion Ave, Franklin Park, NJ 08823Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/203162.5 62.5 53.6 0.02 %
East Nashville Barre Fitness LLC dba Neighborhood Barre Green Hills(#)3310 Gallatin Pike, Nashville, TN 37216Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/14/203111.7 11.7 10.1 — %
Corporate Tax Services, Inc.(#)1250 Broadway 36th Floor, New York, NY 10001Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/203115.0 15.0 12.9 — %
Nicholas Peter Berry dba Nick Berry Production Lighting(#)1081 Hayes Ave, San Diego, CA 92103Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/14/20313.0 3.0 2.7 — %
Smart Wired Services LLC(#)123 McCreary Rd, New Brighton, PA 15066Administrative and Support ServicesTerm LoanPrime plus 2.75%12/14/20318.0 8.0 8.5 — %
Sky’s The Limit Yoga Company(#)115 W 25TH St, Norfolk, VA 23517Educational ServicesTerm LoanPrime plus 2.75%12/13/20316.0 6.0 5.1 — %
182
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
EBG Re-Sell(#)26943 Ruether Ave, Santa Clarita, CA 91351Nonstore Retailers Term LoanPrime plus 2.75%12/13/20317.5 7.5 6.4 — %
BGF Bobby Q's Inc(#)365 W Sunrise Hwy, Freeport, NY 11520Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/13/2047148.0 148.0 167.1 0.05 %
IV Therapy Management(#)2 Sears Dr, Paramus, NJ 07652Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/13/20324.7 4.7 4.4 — %
Lloyd Hardware LLC(#)2319 W. Court St., Janesville, WI 53548Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/13/2031100.0 100.0 92.4 0.03 %
Momentum Metal Finishing, Inc.(#)1286 Anvilwood Ave, Sunnyvale, CA 94089Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/13/204784.6 84.6 95.5 0.03 %
Grazin Foods LLC dba Graze Craze(#)12800 South Memorial Dr, Stes A1 and A2, Bixby, OK 74008Food and Beverage Stores Term LoanPrime plus 2.75%12/10/203117.1 17.1 15.5 0.01 %
Phillips Rental RV, LLC(#)5827 Stanida Circle, Holladay, UT 84121Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/10/203110.0 10.0 8.6 — %
Nonnos Ice Cream Shoppe Inc(#)270 Seabury St., Fall River, MA 02720Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/10/204620.0 20.0 22.6 0.01 %
ANR Insulation , LLC dba King Insulation(#)25 N 47th Ave, Phoenix, AZ 85043Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/10/2031500.0 500.0 428.7 0.14 %
Blooms Pharmacy LLC(#)16347 Middlebelt Rd, Livonia, MI 48154Health and Personal Care Stores Term LoanPrime plus 2.75%12/10/203126.0 26.0 27.5 0.01 %
Stehlik Service and Tire INC(#)2410 N Powers Blvd, Colorado Springs, CO 80915Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/2046118.2 118.2 122.1 0.04 %
Suha Signs LLC dba Signaramaa(#)8211 Byron Center Ave SW, Byron Center, MI 49315Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/9/203220.4 20.4 21.7 0.01 %
Suha Restaurants LLC dba The Great Greek Grill(#)8211 Byron Center Ave SW, Byron Center, MI 49315Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/9/203247.1 47.1 50.0 0.02 %
Railhead, Inc(#)13800 Coppermine Rd, Herndon, VA 20171Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/203135.0 35.0 30.0 0.01 %
Suha Promotions LLC dba Fully Promoted(#)8211 Byron Center Ave SW, Byron Center, MI 49315Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/9/203218.9 18.9 20.1 0.01 %
NEW FRONTIER INSURANCE AGENCY OF FORT CALHOUN, INC(#)510 North 14th, Fort Calhoun, NE 68023Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/9/203116.0 16.0 16.9 0.01 %
World Diamond Source, Inc(#)2987 Center Port Circle, Stes 4 & 5, Pompano Beach, FL 33064Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/9/2031200.0 200.0 211.2 0.07 %
Myoung & Lee Inc(#)10251 Little Brier Creek Lane, Ste 106, Raleigh, NC 27617Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/8/203117.0 17.0 14.6 — %
Freedom Toast LLC dba Sunrise Diner(#)401 N Atlantic Ave, Ocean City, MD 21842Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/8/203118.9 18.9 16.5 0.01 %
Broadway Ethos Holdings, LLC(#)218 Elizabeth St, East Jordan, MI 49727AccommodationTerm LoanPrime plus 2.75%12/8/204651.8 51.8 56.4 0.02 %
Clean Energyz LLC(#)881 Alma Real Dr, Pacific Palisades, CA 90272Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/8/20461,010.8 1,010.8 1,066.6 0.34 %
Foster the Community LLC(#)13451 and 13453 Fishhawk Blvd, Riverview, FL 33569Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/8/203213.1 13.1 13.9 — %
183
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Wilcompute(#)200 W Pondera Ave, Lancaster, CA 93534Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/7/204642.0 42.0 47.4 0.02 %
Cali Weights LLC(#)650 Pressley Rd, Charlotte, NC 28217Nonstore Retailers Term LoanPrime plus 2.75%12/7/203142.5 42.5 36.4 0.01 %
Sweet Pink’s Creamery LLC dba Sweet Charlies(#)391 Quill Dr, Dawsonville, GA 30534Food ManufacturingTerm LoanPrime plus 2.75%12/7/20316.5 6.5 5.5 — %
Atomic Dog LLC dba Jack's Hard Cider(#)1865 Gettysburg Village Dr, Unit 5, Gettysburg, PA 17325Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%12/7/20311,137.5 1,137.5 1,000.3 0.32 %
Alley Taco 402, LLC dba Alley Taco 402(#)2002 Missouri Ave, Omaha, NE 68107Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/6/204622.5 22.5 24.2 0.01 %
Mudshark Studios, LLC(#)1930 NE Oregon St, Portland, OR 97232Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/6/203114.4 14.4 12.3 — %
Patsy McCraken(#)514 E Main St., Henryetta, OK 74437Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/6/203137.8 37.8 35.5 0.01 %
BB's Childcare, LLC dba Brilliant Brains Learning Center(#)7076 Blondo St., Omaha, NE 68104Social AssistanceTerm LoanPrime plus 2.75%12/3/203114.4 14.4 12.3 — %
Pinnacle Pools, Inc(#)20442 Palomar St., Wildomar, CA 92595Administrative and Support ServicesTerm LoanPrime plus 2.75%5/3/203210.2 10.2 8.8 — %
HMG Strategy, LLC(#)55 Post Rd West, Westport, CT 06880Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/203187.5 87.5 75.0 0.02 %
Reliance Healthcare Services LLP dba Always Best Care Senior Services(#)1101 Kings Hwy N, Cherry Hill, NJ 08034Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/3/203138.6 38.6 33.1 0.01 %
LEBAT Properties, LLC(#)6418 N New Braunfels Ave, San Antonio, TX 78209Food ManufacturingTerm LoanPrime plus 2.75%12/3/203146.0 46.0 48.1 0.02 %
Cliff's Motor Inn, LLC(#)4785 Saint Leonard Rd, Saint Leonard, MD 20685AccommodationTerm LoanPrime plus 2.75%12/3/204657.5 57.5 62.5 0.02 %
Metalhouse LLC(#)4705 S. Apopka Vineland Rd, Orlando, FL 32819Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/2/2031315.0 315.0 270.1 0.09 %
RECS LLC dba Richmond Express(#)1804 Dabney Rd, Richmond, VA 23230Couriers and MessengersTerm LoanPrime plus 2.75%12/1/2031148.3 148.3 127.3 0.04 %
Carolina Decompression and Physical Therapy LLC(#)11618 US Hwy 70 W, Ste 106, Clayton, NC 27520Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/1/203175.0 75.0 64.3 0.02 %
Ryan M. White dba Precision Engraving and Signs(#)2419 Heather Ave, Long Beach, CA 90815Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%12/1/203118.0 18.0 16.8 0.01 %
Pro Source Services, Inc dba Pro Source Services(#)6970 Wallis Rd, West Palm Beach, FL 33413Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/1/2031108.1 108.1 92.7 0.03 %
CDM Field Services, Inc. dba Xcite Automotive(#)328 South Jefferson St., Chicago, IL 60661Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/1/2031390.8 390.8 339.6 0.11 %
Poquoson Law Group, P.C.and Holcomb Solutions, LLC(#,^)720 Roger Brown Dr, Newport News, VA 23602Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/30/2046168.5 168.5 179.3 0.06 %
Ascent Holdings LLC and First Ascent, LLC(#,^)3516 N Spaulding Ave, Chicago, IL 60618Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%1/30/2032177.0 177.0 155.3 0.05 %
The Four Star Ranch, LLC(#,^)238 Oak St, Medford, NY 11763Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/30/2046100.0 100.0 111.6 0.04 %
184
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
L.O.T Early Learning Center LLC(#,^)650 NW 183rd St, Miami, FL 33169Social AssistanceTerm LoanPrime plus 2.75%11/30/203125.0 25.0 24.2 0.01 %
Just Teazzin L.L.C.(#,^)4815 E Main St., Mesa, AZ 85205Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/30/204625.0 25.0 27.0 0.01 %
JMH GROUP, LLC dba Hotworx Studio(#)13435 University Ave, Clive, IA 50325Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/30/203215.2 15.2 14.1 — %
LR Greenview LLC dba Teaspoon(#)2977 Ygnacio Valley Rd, Unit 2977, Pleasant Hill, CA 94523Food and Beverage Stores Term LoanPrime plus 2.75%4/24/20325.4 5.4 4.6 — %
POLARIS BARRE LLC dba PURE BARRE POLARIS(#,^)1513 Gemini Place, Columbus, OH 43240Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/24/20317.5 7.5 6.7 — %
Runyaro Richardson dba Self Made Musicnaire(#,^)14855 Memorial Dr, Houston, TX 77079Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%11/24/20318.0 8.0 6.9 — %
J Lan CPA Inc(#,^)12225 South St, Artesia, CA 90701Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/23/203122.6 22.6 19.3 0.01 %
The Piano Outlet, Inc.(#,^)3775 NW 124th Ave, Coral Springs, FL 33065Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%11/23/203112.5 12.5 12.8 — %
Edenburg Hospitality Inc(#,^)2750 SW 145th Ave, Ste 304, Miramar, FL 33027Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/23/203162.5 62.5 66.1 0.02 %
Southern Latitude Charters LLC(#,^)425 N. Osprey Ave, Sarasota, FL 34236Scenic and Sightseeing TransportationTerm LoanPrime plus 2.75%11/23/203120.2 20.2 18.3 0.01 %
Alpine Rings, LLC(#,^)2040 Independence Commerce Dr, Matthews, NC 28105Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%11/23/203115.0 15.0 12.9 — %
Those Guys Fitness LLC.(#,^)2850 Main St., Ste 104, Mesa, AZ 85213Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/22/20317.5 7.5 6.4 — %
Cause of a Kind, LLC(#,^)3989 Long Beach Rd, Island Park, NY 11558Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/203186.8 86.8 74.4 0.02 %
Flener IP Law, LLC(#,^)77 West Washington St. Ste 800, Chicago, IL 60602Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/203115.0 15.0 12.9 — %
OneCare Health-Advanced Practice Health & Wellness Corp(#,^)97 Port Richmond Ave, Staten Island, NY 10302Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/22/203110.0 10.0 8.6 — %
Gerland Investments, Inc dba Premier Martial Arts(#)12611 I-10 West, Ste 102, San Antonio, TX 78230Educational ServicesTerm LoanPrime plus 2.75%4/22/20328.0 8.0 6.9 — %
Barahona Plumbing LLC(#,^)2789 Jefferson Davis Hwy, Unit 107, Stafford, VA 22554Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/22/204624.8 24.8 27.4 0.01 %
Pho 99 III Vietnamese Restaurant LLC(#)3151 Route 27, Unit K, Franklin Park, NJ 08846Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/19/203115.0 15.0 12.9 — %
Sudha Spirit LLC dba Cork Shop(#)317 East Main St., Branford, CT 06405Food and Beverage Stores Term LoanPrime plus 2.75%11/19/203153.4 53.4 45.8 0.01 %
Double Scoop Ice Cream Cascade LLC(#,^)2970 Stonecrest Pass, Stonecrest,, GA 30038Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/19/2046125.0 125.0 134.0 0.04 %
M & M Liquidation(#,^)16 Millstone, Irvine, CA 92606Nonstore Retailers Term LoanPrime plus 2.75%11/19/20313.5 3.5 3.0 — %
185
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
New Magnolia Garden Center, Inc(#,^)9620 Chicago Ridge Mall, Chicago Ridge, IL 60609Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%11/19/20313.5 3.5 3.0 — %
BECCS BROWS LLC(#,^)3950 Long Beach Blvd, Ste 203, Long Beach, CA 90807Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/19/204684.8 84.8 93.2 0.03 %
Ryshaan LLC dba Fyzical Therapy and Balance Center(#)3780 Riverchase Village, Ste 900, Hoover, AL 35244Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/19/20328.7 8.7 8.1 — %
Kouklet LLC(#,^)744 South St., Philadelphia, PA 19147Food ManufacturingTerm LoanPrime plus 2.75%11/19/20316.5 6.5 5.6 — %
IVF Cryo LLC(#,^)12526 Promise Creek Lane (Building 3), Unit 326, Fishers, IN 46038Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/19/204630.0 30.0 31.2 0.01 %
JJBen, Corporation dba Benson Crane Service(#,^)437 Route 212, Saugerties, NY 12477Rental and Leasing ServicesTerm LoanPrime plus 2.75%11/18/2031154.7 154.7 144.2 0.05 %
Donald Wells Consulting Co(#,^)2347 Bright Meadows, Missouri City, TX 77489Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/18/203112.5 12.5 10.7 — %
Guardian Cyber Solutions, LLC(#,^)14011 Hollow Crest Place, Riverview, FL 33579Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/18/203110.0 10.0 8.6 — %
West Ballantyne Animal Hospital PLLC(#,^)11926 Providence Rd W, Charlotte, NC 28277Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/18/203110.6 10.6 9.1 — %
Rex Regum Incorporated dba Mr. Electric of Concord CA(#,^)3737 Parkmall Court, Concord, CA 95419Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/18/203111.9 11.9 10.2 — %
Caroline Cecil Textiles, LLC(#,^)3834 N 35th Place, Phoenix, AZ 85018Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/18/20315.5 5.5 4.8 — %
Dayo J. Jones dba DayoSense(#,^)2306 South Eddy St., Seattle, WA 98108Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/18/203111.0 11.0 9.7 — %
Brevard Water Systems Sales & Services Inc(#,^)3101 US-1, Mims, FL 32754Administrative and Support ServicesTerm LoanPrime plus 2.75%11/17/203127.8 27.8 23.9 0.01 %
EKGolf Inc(#,^)10890 Douglas Ave, Urbandale, IA 50322Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/17/20314.6 4.6 4.3 — %
Reset Cryotherapy LLC(#,^)1220 20th St, Miami Beach, FL 33139Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/16/203135.0 35.0 31.9 0.01 %
Uniglobal Pension Planning Inc(#,^)4114 Legato Rd, Fairfax, VA 22033Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/16/2031105.0 105.0 90.0 0.03 %
Casablanca Floral Studio(#,^)106 Ram Cat Alley, Seneca, SC 29678Miscellaneous Store Retailers Term LoanPrime plus 2.75%11/16/20312.7 2.7 2.3 — %
Ghioni Tax & Accounting Solutions, LLC(#,^)958 NE Kelly Ave, Gresham, OR 97030Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/12/20315.0 5.0 4.3 — %
Colin Forde DDS PC dba Family & Cosmetic Dental Design(#,^)7520 Montgomery Blvd NE Bldg C, Albuquerque, NM 87109Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/12/2046162.5 162.5 176.5 0.06 %
Georgia Two-Way Inc(#,^)1206 GA Hwy 30 West, Americus, GA 31719Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%11/12/203130.0 30.0 25.7 0.01 %
Exit Strategies, LLC dba Spa Society(#,^)500 Ave at Port Imperial, Ste E, Weehawken, NJ 07086Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/12/203127.5 27.5 23.8 0.01 %
Jay Kalimai LLC(#,^)310 S Robinson Dr, Waco, TX 76706Gasoline Stations Term LoanPrime plus 2.75%11/12/204632.0 32.0 36.1 0.01 %
186
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Kebab Daddy Inc(#,^)3701 Ocean View Blvd. A-3, Montrose, CA 91020Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/12/203116.5 16.5 15.4 — %
Cresson-Inn Bar & Grille, Inc.(#,^)114 Gay St., Manayunk, PA 19127Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/10/204647.7 47.7 52.6 0.02 %
US Ideal Diamond Cutting Works Inc(#,^)5757 Alpha Rd,Ste 502, Dallas, TX 75240Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/10/203120.0 20.0 17.1 0.01 %
New Generation Products LLC(#,^)5013 Pacific Hwy E, Fife, WA 98424Electronics and Appliance Stores Term LoanPrime plus 2.75%11/10/2031200.0 200.0 171.5 0.06 %
The Loyal Subjects Wave 2, LLC(#,^)144 West Washington Blvd, Los Angeles, CA 90007Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/10/2031200.0 200.0 171.5 0.06 %
Bofill's Barbeque LLC(#)15159 South Cicero Ave, Oak Forest, IL 60452Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/10/204730.0 30.0 32.1 0.01 %
Codame Enterprises LLC dba Firehouse Subs #142(#,^)1547 Main St., Dunedin, FL 34698Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/10/203127.9 27.9 23.9 0.01 %
Sargas Pharmaceutical Adherence & Compliance Intl, LLC(#,^)109 H St., Bakersfield, CA 93304Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/9/204619.6 19.6 21.9 0.01 %
Solo Creer LLC dba DoodyCalls(#,^)13096 County Rd 192, Tyler, TX 75703Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%11/9/20316.3 6.3 5.4 — %
Branded Goods LLC(#,^)1975 Stirling Rd, Stes A, B, and C, Davie, FL 33004Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/203175.0 75.0 72.4 0.02 %
ORCHID ENERGY SOLUTIONS(#,^)3662 Clyde Park Ave SW, Wyoming, MI 49509Miscellaneous Store Retailers Term LoanPrime plus 2.75%11/8/203125.0 25.0 21.4 0.01 %
LA SCAPES LLC(#,^)1812 Portview Dr, Spring Hill, TN 37174Administrative and Support ServicesTerm LoanPrime plus 2.75%11/8/203110.5 10.5 9.0 — %
Michelle Rianne Turney dba The Collective Salon Suites(#,^)809 Frolich Dr, Midwest City, OK 73110Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/8/20324.0 4.0 3.4 — %
The Soda Spot LLC(#,^)7240 W. Azure Rd, Ste #105, Las Vegas, NV 89130Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/5/20325.5 5.5 5.0 — %
Ricky W. Kent dba VT-Doors-N-More(#,^)49 Mill Rd, Mount Tabor, VT 05739Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%11/5/204621.7 21.7 24.3 0.01 %
Ecuadane, Inc.(#,^)9 Windsor Court, Purchase, NY 10577Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/5/203135.0 35.0 30.1 0.01 %
Top Knot Studio, LLC dba Goldenrod Parlor(#,^)220 NW 8th Ave, Ste 40, Gainesville, FL 32601Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/5/20315.0 5.0 4.3 — %
Sivalingam Medical Corporation, Inc dba First Valley Medical Group(#,^)44725 10th St W, Ste 210, Lancaster, CA 93534Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/5/2031146.0 146.0 135.5 0.04 %
Bettencourt Flying Service, Inc.(#,^)1066 South Bert Crane Rd, Atwater, CA 95301Air TransportationTerm LoanPrime plus 2.75%11/5/203184.5 84.5 73.0 0.02 %
ECOCOSM, INC.(#,^)201 Spear St., San Francisco, CA 94105Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/5/203135.0 35.0 30.0 0.01 %
New Mexico Rey LLC(#,^)3520 Pan American Fwy NE, Albuquerque, NM 87107Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/5/20317.0 7.0 6.2 — %
Paul Genzink LLC dba VSBL(#,^)1332 Pinegrove NW, Grand Rapids, MI 49504Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%11/5/20315.0 5.0 4.4 — %
187
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Square One Step LLC(#)10710 Barker Cypress Rd, Ste B, Cypress, TX 77433Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/4/203216.8 16.8 15.5 0.01 %
Wiser ID LLC(#,^)26 Twin Oaks Dr, Nashville, TN 37211Publishing Industries (except Internet)Term LoanPrime plus 2.75%11/4/20315.0 5.0 4.3 — %
INE Incorporated dba Juice It Up Colton(#)1040-1100 S. Mt. Vernon Ave, Riverside, CA 92507Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/3/203234.0 34.0 29.3 0.01 %
Finally Pest Control, LLC(#,^)12118 Sellerton Dr, Fishers, IN 46037Administrative and Support ServicesTerm LoanPrime plus 2.75%11/3/203112.6 12.6 10.8 — %
LoCo Apparel LLC(#,^)2201 Long Prairie Rd, Unit 107-314, Flower Mound, TX 75022Nonstore Retailers Term LoanPrime plus 2.75%10/29/203199.6 99.6 91.6 0.03 %
Gin Ray International LLC(#,^)8776 & 8778 NE Sandy Blvd, Portland, OR 97220Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/29/2046140.0 140.0 144.1 0.05 %
MDx BioAnalytical Laboratory, Inc(#,^)5890 Imperial Loop Dr. Ste 12, College Station, TX 77845Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/29/203124.9 24.9 25.3 0.01 %
CPH Fremont South LLC CPH Palato , CPH Palo Alto, CPH Cupertino(#,^)46703 Mission Blvd, Fremont, CA 94539Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/29/203195.7 95.7 82.9 0.03 %
HI5 HOME INNOVATION, LLC(#,^)9187 Holliston Creek Place, Winter Garden, FL 34787Nonstore Retailers Term LoanPrime plus 2.75%10/29/20316.0 6.0 5.1 — %
Half-Pass Ltd dba Canterbury Tack & Apparel(#,^)1291 West 137th Court, Broomfield, CO 80023Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%10/29/20317.3 7.3 6.3 — %
JMC Auto,LLC(#,^)644 Southfield Rd, Lincoln Park, MI 48146Repair and MaintenanceTerm LoanPrime plus 2.75%10/29/203187.0 87.0 83.0 0.03 %
Arcas Machine Inc.(#,^)700 N Neely St., Gillbert, AZ 85233Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/29/2031105.2 105.2 97.4 0.03 %
Cortlandt Racquet Club, Inc. dba(#,^)2127 Albany Post Rd, Montrose, NY 10548Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/29/20461,250.0 1,250.0 1,411.3 0.46 %
Pride Gymnastics Academy, LLC(#,^)7801 Old Hwy 51, Broken Arrow, OK 74014Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/29/203110.5 10.5 9.0 — %
100% Permanent Inc.(#,^)1315 N Larrabee, Chicago, IL 60610Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/29/203113.8 13.8 12.8 — %
Idiot Racing LLC dba Idiot Racing(#,^)13701 Sweetwater Cove Place, Tampa, FL 33613Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%10/29/20313.0 3.0 2.6 — %
La Cueva Inc(#,^)9742 E Colfax Ave, Aurora, CO 80010Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/28/204668.6 68.6 77.4 0.03 %
Potato Bros, LLC dba Crumbl Cookies Chicago Old Town(#)1435 N Wells St., Chicago, IL 60610Food and Beverage Stores Term LoanPrime plus 2.75%3/28/203214.4 14.4 13.5 — %
Kedai Indonesian Cafe(#)110 S Mountain Ave, Upland, CA 91786Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/20329.5 9.5 8.2 — %
High Street Technologies LLC and Merchant Connections LLC(#,^)6331 Paris Ave, New Orleans, LA 70122Administrative and Support ServicesTerm LoanPrime plus 2.75%10/27/20317.3 7.3 6.2 — %
Love at First Bite LLC dba Standlee's(#,^)880 Blackwood Rd, Chula Vista, CA 91910General Merchandise Stores Term LoanPrime plus 2.75%10/27/203125.9 25.9 22.2 0.01 %
UnVeil Media Group LLC(#,^)2251 Stone Pile Dr, Concord, NC 28025Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/27/20315.0 5.0 4.3 — %
188
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Healthcare At Home LLC(#,^)5243 Snapfinger Woods Dr, Unit #104, Decatur, GA 30035Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/26/204626.2 26.2 29.0 0.01 %
Jason Watt Pictures, LLC(#,^)110 Broadway, Brooklyn, NY 11249Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%10/26/203114.9 14.9 12.8 — %
By Modern Design LLC(#,^)1436 Luz De Sol Dr, El Paso, TX 79912Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/26/20315.0 5.0 4.3 — %
Owkalasho LLC dba The UPS Store 299(#,^)3755 Avocado Blvd, La Mesa, CA 91941Couriers and MessengersTerm LoanPrime plus 2.75%10/25/203135.7 35.7 30.6 0.01 %
Right Choice Accounting Solutions, LLC(#,^)3210 Royal Creek Way, Lilburn, GA 30047Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/25/20313.5 3.5 3.0 — %
Sabri Enterprises, Inc.(#,^)11134 Hoffman Dr, Germantown, MD 20876Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%10/22/20316.0 6.0 5.2 — %
M&P_CAL, LLC dba Hotworx Anaheim Hills(#)8086 East Santa Canyon Rd, Anaheim, CA 92808Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/22/203214.2 14.2 13.2 — %
Tucker Management Group, LLC(#,^)115 Tyler Rd, Remlap, AL 35133Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/22/203122.4 22.4 23.4 0.01 %
ProBio Search & Career Services Corporation(#,^)735 County Line Rd, Villanova, PA 19085Administrative and Support ServicesTerm LoanPrime plus 2.75%10/22/203114.6 14.6 12.5 — %
Kynytyx, Inc.(#)990A Station Rd, Bellport, NY 11713Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/22/203271.3 71.3 75.7 0.02 %
Alicia A. Oswald dba Elevated Chiropractic(#,^)3555 Kenyon St., San Diego, CA 92110Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/22/20312.4 2.4 2.0 — %
Voyager Scientific, LLC(#,^)309 Washington St., Conshohocken, PA 19428Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/22/203110.0 10.0 8.5 — %
Simply Appliances, Inc.(#,^)1811 Douglas Blvd., Ste 5, Roseville, CA 95611Electronics and Appliance Stores Term LoanPrime plus 2.75%10/21/203114.9 14.9 12.8 — %
Premiere, Inc(#,^)615 North Landry Dr, New Iberia, LA 70563Support Activities for MiningTerm LoanPrime plus 2.75%10/21/203179.7 79.7 84.3 0.03 %
Big Creek Travel LLC(#,^)5020 Chase Lane, Cumming, GA 30240Administrative and Support ServicesTerm LoanPrime plus 2.75%10/19/20313.5 3.5 3.0 — %
Balanced Health & Fitness LLC dba F45 NW Reno(#)5110 Mae Anne Dr, Ste 702, Reno, NV 89521Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/203251.7 51.7 47.0 0.02 %
J&L Naturals LLC(#,^)110 Oakpark Dr, Mooresville, NC 28115Health and Personal Care Stores Term LoanPrime plus 2.75%10/15/203113.4 13.4 11.4 — %
LN Accounting Advisor LLC(#,^)3663 Washington Ave, Houston, TX 77007Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/15/203110.0 10.0 8.5 — %
Barber's Home Innovations LLC(#,^)3287 Enisgrove Dr E, Palm Harbor, FL 34683Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/15/203129.9 29.9 25.6 0.01 %
Blue 360 Media, LLC(#,^)2750 Rasmussen Rd, Park City, UT 84098Publishing Industries (except Internet)Term LoanPrime plus 2.75%10/15/2031410.4 410.4 352.7 0.11 %
Skate-A-While Longer, LLC(#,^)220 Ridge St. and 229 South George St., Rome, NY 13440Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/13/204616.0 16.0 18.1 0.01 %
Symmonds, LLC dba North End Tavern(#,^)914 IA-5 Business North, Pleasantville, IA 50225Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/13/204614.4 14.4 16.0 0.01 %
A&D Enterprise Inc dba FastFrame(#,^)4150 Legacy Dr, Ste 412, Frisco, TX 75034Miscellaneous Store Retailers Term LoanPrime plus 2.75%10/12/203123.3 23.3 20.2 0.01 %
189
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Mary Rozzi LLC(#,^)52153 Pipes Canyon Rd #552, Pioneertown, CA 92268Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/12/20318.0 8.0 6.8 — %
Bella Ottica LLC dba Eyes on Towne Lake(#,^)1075 Buckhead Crossing, Ste 130, Woodstock, GA 30189Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/12/203114.9 14.9 12.8 — %
Mitchell Authentic Inc RockBox Fitness(#)4880 Lower Roswell Rd, Marietta, GA 30068Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/12/2032118.8 118.8 102.1 0.03 %
Jed Thomas Consulting, Inc dba Woggle Consulting(#,^)3 Trackside Dr, Kennebunk, ME 04043Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/8/20313.0 3.0 2.6 — %
Agape R. E. Solutions LLC(#,^)33 Market Point Dr, Greenville, SC 29607Real EstateTerm LoanPrime plus 2.75%10/8/20315.0 5.0 4.3 — %
Because it's Better Inc(#,^)84 Stonecrest Rd, Ridgefield, CT 06877Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/8/2031173.9 173.9 149.1 0.05 %
Shattered Prism LLC(#,^)63 Flushing Ave, Brooklyn, NY 11205Rental and Leasing ServicesTerm LoanPrime plus 2.75%10/8/203115.4 15.4 15.3 — %
Be Known, LLC(#,^)802 Evolve Way, Knoxville, TN 37915Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/7/20317.5 7.5 6.4 — %
Angels Learning Center Inc,Hector A. Velasquez,Milene A. Velasquez,Mil(#,^)2801 Central Ave, Union City, NJ 07087Social AssistanceTerm LoanPrime plus 2.75%10/7/203132.8 32.8 28.1 0.01 %
Greylab LLC dba Mighty Dog Roofing North DFW(#,^)10215 El Cinco Dr, Frisco, TX 75033Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/7/203126.8 26.8 23.0 0.01 %
SIDCOR Gunsmithing LLC(#,^)3213 Catalpa Dr, Springfield, IL 62712Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/7/20315.4 5.4 4.9 — %
Kotyark L.L.C.dba Gibsonton Motel(#,^)11545 US Hwy 41 S, Gibsonton, FL 33534AccommodationTerm LoanPrime plus 2.75%10/6/203115.4 15.4 15.4 — %
Krown Records, LLC(#,^)5311 S Big Horn Pl, Chandler, AZ 85249Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%10/5/20318.4 8.4 7.2 — %
Backoffice Ally LLC dba Satterley Accounting Services(#,^)70 Raynham Ave, Portsmouth, RI 02871Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/4/20316.0 6.0 5.1 — %
The Gold Standard Accounting & Tax Inc(#,^)4911 Warner Ave Ste 211, Huntington Beach, CA 92649Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/4/203210.4 10.4 8.9 — %
LOVEBUG NUTRITION Inc(#,^)115 E 34th St., New York, NY 10156Health and Personal Care Stores Term LoanPrime plus 2.75%9/30/2031119.6 119.6 109.6 0.04 %
Skaggs RV Outlet, LLC(#,^)301 Commerce Dr, Elizabethtown, KY 42701Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/30/203149.5 49.5 52.4 0.02 %
New Greater Generation Family Funeral Group, LLC(#,^)1400 N Hampton Rd, DeSoto, TX 75115Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/30/204624.3 24.3 26.3 0.01 %
Orchard Collision, Inc(#,^)14898 Telegraph Rd, Redford, MI 48239Repair and MaintenanceTerm LoanPrime plus 2.75%9/30/204661.0 61.0 65.2 0.02 %
Centre Storage and Matthew Wayne Vines(#,^)1650 Clarence E Chesnut Jr Bypass, Centre, AL 35960Real EstateTerm LoanPrime plus 2.75%9/30/204669.4 69.4 78.3 0.03 %
Great II, LLC(#,^)4390 Commerce Circle, Idaho Falls, ID 83401Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/30/2046212.4 212.4 239.8 0.08 %
190
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Champion's Florida LLC & Market Vision Holdings, LLC(#,^)1360 NW 88th Ave, Doral, FL 33172Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/30/20461,220.0 1,220.0 1,377.3 0.45 %
Lively's Collision, Center LLC(#,^)5115 Jefferson Davis Hwy, North Augusta, SC 29841Repair and MaintenanceTerm LoanPrime plus 2.75%9/30/2046147.1 147.1 154.5 0.05 %
Tony D's Hooked, LLC ((#)378 Rope Ferry Rd aka Mago Point Way, Waterford, CT 06385Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2046134.9 134.9 143.2 0.05 %
Great II, LLC(#)142 WA-150, Chelan, WA 98816Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/30/20311,026.9 1,026.9 891.4 0.29 %
WALKING URGENT CARE, INC(#,^)10308 W Sample Rd, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/203164.8 64.8 57.6 0.02 %
Faxon Enterprises Inc(#,^)3107 Nichols Ave, Bay City, TX 78259Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/30/20461,034.2 1,034.2 1,067.8 0.35 %
Coast 2 Coast Restoration LLC,Coast 2 Coast Real Estate LLC &Coast 2(#,^)3505 Veterans Memorial Hwy, Ronkonkoma, NY 11779Construction of BuildingsTerm LoanPrime plus 2.75%9/30/2046377.3 377.3 419.1 0.14 %
Timothy A Chapamn dba Tim's Auto Tech(#,^)62 North Canal St., Oxford, NY 13830Repair and MaintenanceTerm LoanPrime plus 2.75%9/30/203115.3 15.3 16.0 0.01 %
OSSA LLC(#,^)300 Iberia St., Youngsville, LA 70503Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/203179.2 79.2 80.3 0.03 %
Garage Floor Coating of MN.com, LLC(#,^)6701 W 23rd St, Minneapolis, MN 55426Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/30/203166.8 66.8 57.4 0.02 %
Aitheras Aviation Group, LLC, a Florida Liimited Liability Company & A(#,^)2301 N Marginal Rd, Cleveland, OH 44114Air TransportationTerm LoanPrime plus 2.75%9/30/203174.3 74.3 64.5 0.02 %
Motion Physical Medicine & Wellness, PLLC(#,^)13100 Wortham Center Dr, Houston, TX 77065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/203114.4 14.4 12.5 — %
Pueblo Canyon, LLC, Matthew Benjamin Allen and Elizabeth Kelly Allen(#,^)199 SAN ILDEFONSO Rd, LOS ALAMOS, NM 87544AccommodationTerm LoanPrime plus 2.75%9/29/2046102.2 102.2 108.0 0.03 %
Nidal Radwan, M.D., P.A(#,^)18100 N.E. 19th Ave, North Miami Beach, FL 33162Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/29/203181.9 81.9 73.2 0.02 %
Daring Business Strategies Inc.(#,^)600 Front St., Lynden, WA 98264Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/29/203134.7 34.7 29.7 0.01 %
TRI-COUNTY SERVICES, INC. and Andrew M Chehata(#,^)4900 SW 51st St., Davie, FL 33314Administrative and Support ServicesTerm LoanPrime plus 2.75%9/29/2031335.2 335.2 287.4 0.09 %
Agerton Timber LLC and Agerton Transportation, LLC(#,^)3166 Aurelle Rd, Strong, AR 71765Forestry and LoggingTerm LoanPrime plus 2.75%9/29/203129.0 29.0 26.4 0.01 %
Norma Skin Care and SPA LLC(#,^)3364 Coral Way, Miami, FL 33145Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/29/203113.9 13.9 11.9 — %
Chris Landscaping Inc dba New England Tree Co.(#,^)1139 Washington St., Stoughton, MA 02072Administrative and Support ServicesTerm LoanPrime plus 2.75%9/29/203178.2 78.2 69.5 0.02 %
Jafar and Jamal, Inc dba Foodland ; IMAD Corporation(#)11 Highland Ave, Malden, MA 02148Food and Beverage Stores Term LoanPrime plus 2.75%3/29/203219.7 19.7 17.5 0.01 %
Prestige Products of Central Florida, Inc dba Milcarsky's Appliances(#,^)1180 Emma Oaks Trail, Lake Mary, FL 32746Electronics and Appliance Stores Term LoanPrime plus 2.75%9/29/2031247.5 247.5 212.2 0.07 %
191
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Metro of Livernois Inc(#)17149 Livernois, Detroit, MI 48221TelecommunicationsTerm LoanPrime plus 2.75%1/29/2047202.5 202.5 215.0 0.07 %
Group Vertical, LLC dba Group Vertical(#,^)678 Front Ave Northwest, Grand Rapids, MI 49504Nonstore Retailers Term LoanPrime plus 2.75%9/29/2031177.8 177.8 152.5 0.05 %
Creche N Crew, LLC(#,^)3185 West Ward Rd, Dunkirk, MD 20754Social AssistanceTerm LoanPrime plus 2.75%9/29/2046257.1 257.1 290.3 0.09 %
SoCal Propane LLC(#,^)220 N San Jacinto St, Hemet, CA 92543Nonstore Retailers Term LoanPrime plus 2.75%9/29/2046302.1 302.1 341.0 0.11 %
NMFM Consulting, LLC(#,^)3636 Lake Ave, Wilmette, IL 60091Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/29/2046267.1 267.1 280.7 0.09 %
JRBA Inc dba Bulger True Value(#,^)1185 W Santa Fe St, Olathe, KS 66061Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/28/203125.5 25.5 21.8 0.01 %
Cj Real Estate Partners LLC(#)1800 E Palm Ave, Tampa, FL 33605Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2047230.9 230.9 254.8 0.08 %
Art Food Attitude Inc. dba Bamboo Leaf Thai Eatery(#,^)724 Main St., Bradley Beach, NJ 07720Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/28/203125.7 25.7 22.2 0.01 %
Catching Fish LLC dba Man Overboard Bait and Tackle(#,^)1825 S. Patrick Dr, Ste B, Harbour Beach, FL 32937Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%9/28/20315.3 5.3 4.6 — %
Teaghlach Firearms LLC dba TFirearms(#,^)117 S. Main St., Altus, OK 73526Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/28/20312.8 2.8 2.4 — %
LuLu Kingdom LLC(#,^)18 S. 20th St., Philadelphia, PA 19103Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/203215.5 15.5 14.1 — %
Strong Tower 10933, Inc.(#,^)15530 NW US Hwy 441, Alachua, FL 32615Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/20318.2 8.2 7.0 — %
Coast to Coast Auto Sales Incorporated(#,^)9200 E 131 St St., Fishers, IN 46038Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/27/2031148.5 148.5 127.1 0.04 %
C.D.A. Serviceability Trust Inc (Co-Borrower)(#)4501 6th Ave, Tacoma, WA 98406Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/204669.2 69.2 78.0 0.03 %
Coast to Coast Carmel Corporation dba Coast To Coast Collection(#,^)9450 N Aronson Rd, Indianapolis, IN 46240Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/27/2031302.0 302.0 259.7 0.08 %
Momentum Metal Finishing Inc.(#,^)1286 Anvilwood Ave, Sunnyvale, CA 94089Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/27/20461,057.4 1,057.4 1,179.5 0.38 %
Daisi Inc.(#,^)10300 West Charleston Blvd, Las Vegas, NV 89135Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%9/27/2031108.9 108.9 93.2 0.03 %
Michael Risoldi's Auto Repair Inc.(#,^)1435 Woodlane Rd, Eastampton, NJ 08060Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2031125.3 125.3 129.0 0.04 %
D&M Properties, LLC(#,^)2600 Coon Rapids Blvd Nortwest, Coon Rapids, MN 55433Repair and MaintenanceTerm LoanPrime plus 2.75%9/24/203125.3 25.3 21.7 0.01 %
Rightworks Staffing Inc.(#,^)1201 Kenwood Ave, Austin, TX 78704Administrative and Support ServicesTerm LoanPrime plus 2.75%9/24/2031148.5 148.5 127.1 0.04 %
Ben Anderson 365(#,^)9920 Research Dr, Irvine, CA 93108Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/24/203149.5 49.5 42.4 0.01 %
Gateway Auto Service and Collision #2 Inc(#,^)1205 South 8th Ave, Maywood, IL 60153Repair and MaintenanceTerm LoanPrime plus 2.75%9/24/204629.7 29.7 33.6 0.01 %
192
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
3-2-1 Go LLC dba Burgerz and Ballz(#,^)868 Fulda Ave NW, Palm Bay, FL 32907Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/24/20315.3 5.3 4.8 — %
Taurus Legacy, LLC dba Papas Diner(#,^)626 FL-50, Clermont, FL 34711Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/24/20319.4 9.4 8.0 — %
Mag Auto Group Inc dba MAG Motor Company(#,^)1890 North Main St., Walnut Creek, CA 94596Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/24/2031218.8 218.8 187.3 0.06 %
Great Dog Products for Great People LLC dba Royal Frenchel(#,^)13207 Squawwood Lane SE, Rainier, WA 98576Animal Production and AquacultureTerm LoanPrime plus 2.75%9/24/203112.4 12.4 11.0 — %
Forays, Ltd dba Northern Comfort(#,^)2800 N. Lagoon Dr, Wasilla, AK 99654Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%9/24/2046172.4 172.4 186.6 0.06 %
RightTalents LLC(#)639 Passaic Ave, Nutley, NJ 07110Administrative and Support ServicesTerm LoanPrime plus 2.75%9/24/20319.9 9.9 8.5 — %
Teach 2 Teach Music Lessons, LLC(#)184 Marshall Hill Rd, West Milford, NJ 07480Educational ServicesTerm LoanPrime plus 2.75%9/24/203110.4 10.4 8.9 — %
Black Market Restaurant Group Inc. dba Black Market Meal Prep(#)29941 Aventura, Ste K, Rancho Santa Margarita, CA 92688Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/24/203229.5 29.5 26.1 0.01 %
USA Security Services Corporation(#)844 Hebron Ave, Glastonbury, CT 06033Administrative and Support ServicesTerm LoanPrime plus 2.75%9/24/203199.0 99.0 84.7 0.03 %
Vincent Remodeling, LLC(#,^)4667 Riverbend RdTrussville, Trussville, AL 35173Construction of BuildingsTerm LoanPrime plus 2.75%9/23/203114.9 14.9 12.7 — %
Quinn da Matta Productions LLC(#,^)2155 Outpost Dr, Los Angeles, CA 90068Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/23/20314.2 4.2 3.6 — %
MDJ Chiropractic PC(#,^)18009 Jamaica Ave, Jamaica, NY 11432Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/22/20315.0 5.0 4.2 — %
Udder Free Only, LLC(#,^)3603 Vinton Ave Unit 205, Los Angeles, CA 90034Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%9/21/203117.8 17.8 15.8 0.01 %
Oui Pastry LLC(#,^)1905 Scenic Hwy N #10000b, Snellville, GA 30078Food and Beverage Stores Term LoanPrime plus 2.75%9/17/20315.0 5.0 4.2 — %
Phillips Diesel Service LLC(#,^)4150 S 32nd St W, Muskogee, OK 74401Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/204630.5 30.5 32.4 0.01 %
Goode Tax and Resolution, LLC(#,^)2527 Standifer Place, Lanham, MD 20706Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/17/20313.2 3.2 2.7 — %
Preston E. Jones dba Tiny Homer(#,^)62361 Mary Miller Ave, Homer, AK 99603Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/17/20315.4 5.4 5.8 — %
Hurricane Beauty LLC(#)1110 vandon loop, Berlin, NJ 08009Nonstore Retailers Term LoanPrime plus 2.75%9/17/20319.9 9.9 8.5 — %
Radiator Fans Unlimited LLC and Gros Holdings Unlimited, Inc(#,^)6179 Alameda Ave, El Paso, TX 79905Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/15/203153.2 53.2 46.3 0.01 %
Radiator Fans Unlimited LLC and Gros Holdings Unlimited Inc(#,^)6179 Alameda Ave, El Paso, TX 79905Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/15/204644.8 44.8 49.7 0.02 %
193
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
For The Love Athletics LLC(#,^)225 N Downing St, Davidson, Davidson, NC 28036Educational ServicesTerm LoanPrime plus 2.75%9/14/20314.9 4.9 4.2 — %
Aaron Mahoney dba Alaska Gulf Coast Expeditions(#,^)16347 Deerfield St,, Ninilchik, AK 99639Scenic and Sightseeing TransportationTerm LoanPrime plus 2.75%9/14/203128.7 28.7 24.6 0.01 %
MTR Designs LLC(#,^)205 North 12th St., Opelika, AL 36801Nonstore Retailers Term LoanPrime plus 2.75%9/14/20317.4 7.4 6.4 — %
SkyEstate LLC dba Vango's Drive Thru(#,^)4000 Leap Rd, Hilliard, OH 43026Food and Beverage Stores Term LoanPrime plus 2.75%9/14/203130.3 30.3 25.9 0.01 %
JEMS Transportation & Logistics LLC(#,^)30715 Basil Trace Dr, Spring, TX 77386Truck TransportationTerm LoanPrime plus 2.75%9/14/203114.9 14.9 12.7 — %
R & S Chroniger Enterprises, LLC(#,^)1681 Beech Ln, Hanover, PA 17331Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/14/203117.7 17.7 15.2 — %
Touch of Therapy Massage, LLC(#,^)8510 Warner Rd, Ste 300, Plain City, OH 43064Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/13/203114.9 14.9 15.7 0.01 %
Dennis Hair Studio Inc(#)1566 Union Turnpike, New Hyde Park, NY 11040Personal and Laundry ServicesTerm LoanPrime plus 6.5%9/13/20316.2 6.2 6.2 — %
Amado Trader LLC dba Amado Games LLC(#,^)5545 Bulls Bay D, Virginia Beach, VA 23462Nonstore Retailers Term LoanPrime plus 2.75%9/13/20314.5 4.5 3.8 — %
MattCole Construction and Roofing, LLC(#,^)2529 Boxford Lane, Cordova, TN 38016Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/13/203154.5 54.5 49.6 0.02 %
O&O Welding Zone Corp(#,^)2100 4th St., Orlando, FL 32824Repair and MaintenanceTerm LoanPrime plus 2.75%9/13/204648.0 48.0 52.8 0.02 %
Octopus Records LLC(#,^)72-05 72nd Place, 2B, Glendale, NY 11385Nonstore Retailers Term LoanPrime plus 2.75%9/13/20314.5 4.5 3.9 — %
Panditos LLC dba White Lotus Home(#)745 Joyce Kilmer Ave, New Brunswick, NJ 08901General Merchandise Stores Term LoanPrime plus 2.75%9/10/203119.8 19.8 16.9 0.01 %
Essex Trade, Inc.dba Artesano's(#,^)33 Bearskin Neck, Rockport, MA 01966Miscellaneous Store Retailers Term LoanPrime plus 2.75%9/10/20316.1 6.1 5.3 — %
Tri T. Le dba AN Company(#,^)1431 Amro Way, South El Monte, CA 91733Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%9/10/203115.6 15.6 14.4 — %
Trash Can Rescue LLC(#,^)1096 Nast Chapel Rd, Martinsville, IN 46151Administrative and Support ServicesTerm LoanPrime plus 2.75%9/10/203118.7 18.7 17.3 0.01 %
Kyle Keiper LLC(#,^)3408 Spring St #1, Pompano Beach, FL 33062Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/10/203112.0 12.0 11.3 — %
Remsund Group Inc dba Remsund Group(#,^)6581 Westland Dr, Brownsburg, IN 46112Couriers and MessengersTerm LoanPrime plus 2.75%9/10/203154.5 54.5 46.6 0.02 %
B & W Towing, LLC(#)701 Addison Rd, Painted Post, NY 14870Support Activities for TransportationTerm LoanPrime plus 2.75%2/9/204771.9 71.9 80.1 0.03 %
Queen Oxygen Co. dba Quest Cylinder Co.(#,^)239 Lafayette St., London, OH 43140Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/9/203144.9 44.9 43.6 0.01 %
Y & C Company INC dba Miji-Mura Hibachi & Sushi(#,^)1850 N University Dr,, Coral Springs, FL 33071Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/9/2046246.7 246.7 278.5 0.09 %
Alaska Industrial Paint, LLC dba Alaska Fleet and Collision Specialist(#)1301 North Post Rd, Anchorage, AK 99501Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/8/203221.5 21.5 22.8 0.01 %
Le Bajec Le LLC(#,^)810 N Alamo St,, San Antonio, TX 78215Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/8/204679.4 79.4 85.8 0.03 %
194
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Grand Portage LLC(#,^)3306 Chelsea Cir, Ann Arbor, MI 48108Nonstore Retailers Term LoanPrime plus 2.75%9/7/203133.1 33.1 28.3 0.01 %
Sassy Sista's Boutique LLC(#,^)851 W. State Rd 436 Ste. 1005, Altamonte Springs, FL 32714Health and Personal Care Stores Term LoanPrime plus 2.75%9/7/20316.4 6.4 5.5 — %
Almina Concept, Inc.(#,^)5042 Willshire Blvd., Los Angeles, CA 90036Nonstore Retailers Term LoanPrime plus 2.75%9/7/20312.5 2.5 2.1 — %
Oak North LLC, & Constantinos Constantinou(#,^)94 Union St., Vernon, CT 06066Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/7/203151.5 51.5 54.4 0.02 %
XL Auto Group LLC dba Autos Wholesale(#,^)28900 Mission Blvd, Hayward, CA 94544Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/3/203118.3 18.3 15.7 0.01 %
JD Hunt Custom Homes Incorporated dba JD Hunt Construction(#,^)5515 Parkcrest Dr, Austin, TX 78731Construction of BuildingsTerm LoanPrime plus 2.75%9/3/2031906.9 906.9 776.2 0.25 %
4 Points Towing & Roadside Service LLC(#,^)5425 Willow Grove Rd, Camden Wyoming, DE 19934Support Activities for TransportationTerm LoanPrime plus 2.75%9/2/203134.7 34.7 31.7 0.01 %
RGV Poke LLC dba Pokeworks(#)5401 North 10 St. Unit 126, McAllen, TX 78504Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/2/203213.7 13.7 12.4 — %
Sheryl's Candy Apple Creations, LLC(#,^)131 Piney Green Rd, Ste 300, Jacksonville, NC 28546Food and Beverage Stores Term LoanPrime plus 2.75%12/2/20316.0 6.0 5.4 — %
331 Foley Sound Inc(#,^)19355 Business Center Dr, Unit #9, Northridge, CA 91324Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%1/2/203225.0 25.0 21.6 0.01 %
Kenbenco, Inc.dba Benson Steel Fabricators(#,^)437 Route 212, Saugerties, NY 12477Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%8/31/2031161.1 161.1 158.2 0.05 %
paws Boarding LLC dba paws DayCamp and Boarding(#,^)2449 Breanna Way, Little Elm, TX 75068Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/31/20312.7 2.7 2.3 — %
Tactical Integrated Systems Inc dba Techy(#,^)2501 Citrus Blvd, Leesburg, FL 34748Repair and MaintenanceTerm LoanPrime plus 2.75%8/31/203117.7 17.7 15.2 — %
Big Heart LLC dba Chick'n Cone(#)1158 W San Marcos Blvd, San Marcos, CA 92078Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/203123.3 23.3 20.4 0.01 %
Rosy Rings, Inc(#,^)2400 Industrial Lane, Ste 700, Broomfield, CO 80020Miscellaneous ManufacturingTerm LoanPrime plus 2.75%8/31/2031164.1 164.1 140.5 0.05 %
IT Quality Solutions, Inc(#,^)6522 Creekview Circle, Duluth, GA 30097Administrative and Support ServicesTerm LoanPrime plus 2.75%8/31/20317.9 7.9 6.7 — %
JeanAnn Schwark, MS, FNP-C PLLC dba Serenity Women's Care(#,^)10615 N Hayden Rd C100, Scottsdale, AZ 85260Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/31/2031163.3 163.3 146.2 0.05 %
RM Interiors Inc.dba House of Moseley(#,^)8200 Stockdale HWY D-6, Bakersfield, CA 93311Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%8/31/203129.5 29.5 25.3 0.01 %
Shrijee LLC dba Econo Lodge(#)908 Washington St., Manitowoc, WI 54220AccommodationTerm LoanPrime plus 2.75%12/31/2046119.2 119.2 134.5 0.04 %
Cadena Co.(#,^)2133 Southend Dr. #301, Charlotte, NC 28213Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/31/203110.4 10.4 8.9 — %
K's Salon 1 LLC dba Gerard Anthony Salon(#)580 Amsterdam Ave, New York, NY 10024Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/30/203122.0 22.0 18.8 0.01 %
195
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Kadence Consulting Inc(#,^)13315 Bishops Ct, Roswell, GA 30075Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/30/203118.3 18.3 15.7 0.01 %
Angela Barbara(#,^)51 Bennington Square, Hackettstown, NJ 07840Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/30/204624.5 24.5 26.8 0.01 %
25 Dials LLC(#,^)875 North High St., Ste 300, Columbus, OH 43215Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%8/27/20319.3 9.3 9.8 — %
Willow Falls Venue LLC(#,^)23122 S North Carolina Hwy 109, Denton, NC 27239Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/27/204620.7 20.7 22.6 0.01 %
Downtown Dance Academy Limited Liability Company(#,^)1204 Hooper Ave, Toms River, NJ 08753Educational ServicesTerm LoanPrime plus 2.75%8/27/20315.4 5.4 4.6 — %
Debut Solutions LLC(#,^)2000 Frankfort St, Laredo, TX 78040Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%8/27/2031271.3 271.3 237.3 0.08 %
3D Printed Tabletop, LLC(#,^)2870 Sonata Court, St. Cloud, FL 34772Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%8/27/20313.0 3.0 2.5 — %
7 BRANCHES CORPORATION dba Nikos(#,^)410 Pearl St., Lake Wales, FL 33853Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/27/20317.1 7.1 6.1 — %
DebutSolutions, LLC dba Emerald Pacific Resources(#,^)2000 Frankfurt St., Laredo, TX 78040Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%8/27/204664.5 64.5 70.5 0.02 %
Hair and Beauty Market Place, LLC dba LAOR(#)7900 S. Orange Blossom Trail, Unit 1, Orlando, FL 32809Health and Personal Care Stores Term LoanPrime plus 2.75%5/26/2047171.8 171.8 194.0 0.06 %
Island Kaii & Company dba Island Kaii(#,^)20140 Livemois, Detroit, MI 48221Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/26/20317.4 7.4 7.5 — %
Tapuya Brands Corporation(#,^)23 Leroy St., New York, NY 10014Nonstore Retailers Term LoanPrime plus 2.75%8/26/203165.9 65.9 56.4 0.02 %
HHD Aviation, LLC dba Great Milwaukee Training and Testing Center(#,^)2820 Bobmeyer Rd, Hanger C-7, Hamilton, OH 45015Real EstateTerm LoanPrime plus 2.75%8/26/204646.6 46.6 52.6 0.02 %
Gralyn Fabrication & Machining LLC  (#,^)1119 Bluff Ridge Rd, Waynesburg, PA 15370Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%8/25/20318.9 8.9 7.6 — %
Christopher John Looney Agency Inc.(#,^)426 South Atlanta St., Unit 110, Roswell, GA 30075Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/25/20312.7 2.7 2.3 — %
Premiere Inc(#,^)615 N Landry Dr, New Iberia, LA 70563Support Activities for MiningTerm LoanPrime plus 2.75%8/25/2031383.7 383.7 405.2 0.13 %
Trinity Lumber and Building Supply, Inc(#,^)1231 East Cypress Ave, Redding, CA 96002Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%8/25/204669.9 69.9 77.4 0.03 %
Swick & Son Enterprises, Inc(#,^)108 Mashell Ave North, Eatonville, WA 98328Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/25/203117.7 17.7 15.3 — %
Tiny's Gumbo Bar NYC LLC(#)275 Church St., New York, NY 10013Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/25/203236.3 36.3 32.1 0.01 %
Force3 Enterprises, LLLP(#,^)240 Hathway Dr, Stratford, CT 06615Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%8/25/2046195.3 195.3 212.0 0.07 %
MA Allen LLC dba Premier Martial Arts(#)380 East Bethany Dr, Allen, TX 75002Educational ServicesTerm LoanPrime plus 2.75%3/25/20319.3 9.3 7.9 — %
CJNR LLC dba Parkhurst Motel(#,^)208 East Main St., Elma, WA 98541AccommodationTerm LoanPrime plus 2.75%8/24/204639.9 39.9 45.1 0.01 %
196
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Patoruzu, Inc. dba Sharkey's Cuts For Kids(#,^)18121 Tuckerton Rd, Ste 130, Cypress, TX 77433Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/20/20319.8 9.8 8.4 — %
PCH Ventures, LLC dba Chop Stop(#,^)18515 Brookhurst St., Fountain valley, CA 92618Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/20/203140.0 40.0 42.1 0.01 %
Power Enterprise LLC(#,^)119 East 710 South Circle, Ivins, UT 84738Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/20/20313.1 3.1 2.7 — %
The Jar Circle, Inc dba Frida's Mexican Grill(#)3545 Merrick Rd, Seaford, NY 11783Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/20/203113.9 13.9 12.1 — %
Dallas MTV, LLC(#,^)2911 Turtle Creek Blvd, Ste 300, Dallas, TX 75219Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/20/203118.4 18.4 15.7 0.01 %
Royal Home Care and Staffing LLC(#,^)453 Oakton Rd, Odenton, MD 21113Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/20/203131.8 31.8 33.6 0.01 %
Kiwi Vision, LLC(#,^)27518 Portsmouth Ave, Hayward, CA 94545Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/19/20319.8 9.8 8.4 — %
Elizabeth K. Little and dba Mrs. Little's Tea and Toys(#,^)108 North Davis St., Hamilton, MO 64644Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/19/20312.7 2.7 2.8 — %
Vida Meat Company LLC(#,^)1370 West Cheyenne Ave, North Las Vegas, NV 89030Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%8/19/203146.7 46.7 43.7 0.01 %
Derheim, Inc dba My Aquatic Services(#,^)601 Main Ave.W, West Fargo, ND 58078Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/19/2046162.7 162.7 170.4 0.06 %
Luxury Tree Services LLC(#,^)5925 SW 69th St., Miami, FL 33413Forestry and LoggingTerm LoanPrime plus 2.75%8/18/203198.3 98.3 84.8 0.03 %
Glorious Training Group Inc dba F45 Training Murabella(#,^)185 Murabella Pkwy, St. Augustine, FL 32092Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/18/203114.8 14.8 13.4 — %
Cezary A. Lapa dba Globe Polska Ksiazka(#,^)5747 West Irving Park Rd, Chicago, IL 60634Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%8/17/20316.9 6.9 5.9 — %
Hartwood Inn(#,^)1312 GILBERT ST, CHARLES CITY, IA 50616AccommodationTerm LoanPrime plus 2.75%8/17/204639.9 39.9 45.1 0.01 %
Transatlantic Translations Company, LLC(#,^)411 Theodore Fremd Ave, Rye, NY 10580Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/16/203124.6 24.6 21.1 0.01 %
Revive Aesthetics & Wellness, LLC(#,^)175 Main St., East Greenwich, RI 02818Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/13/203127.1 27.1 24.1 0.01 %
DTT ENTERPRISES, LLC(#,^)6565 Austin Hope Ave, Las Vegas, NV 89118Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/13/203134.4 34.4 29.5 0.01 %
Baite Auto Sales LLC(#,^)2865 Suwanee Rd, Columbus, OH 43224Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%8/13/204611.5 11.5 13.0 — %
Montauk Donut Group, Inc dba Dunkin Donuts(#)1669 Montauk Hwy, Bellport, NY 11713Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/12/203181.8 81.8 86.2 0.03 %
Bird's Nest Florist & Gifts, LLC(#,^)549-E College Park Rd, Ladson, SC 29456Miscellaneous Store Retailers Term LoanPrime plus 2.75%8/12/20315.8 5.8 5.0 — %
Game Time Vending, LLC(#,^)10105 Amberwood Rd Stes #1 and #5, Fort Myers, FL 33913Nonstore Retailers Term LoanPrime plus 2.75%8/11/20311,229.0 1,229.0 1,142.3 0.37 %
Lovely Moments Iowa Photography, LLC(#,^)313 South Logan St., Roland, IA 50236Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/11/20313.0 3.0 2.5 — %
197
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
KBO Investment and Sterling HTS KBO Investments LLC(#,^)748 West Big Beaver Rd, Troy, MI 48084Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/10/203145.3 45.3 39.5 0.01 %
C4 Technologies Inc.(#)171 C Ave, Ste C, Coronado, CA 92118Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/6/20316.2 6.2 6.1 — %
The Hiccup Inc(#,^)158 Humphrey St., Swampscott, MA 01907Miscellaneous Store Retailers Term LoanPrime plus 2.75%8/6/203120.4 20.4 17.4 0.01 %
Dara, Inc.(#,^)29 Old Planters Rd, Beverly, MA 01915Nonstore Retailers Term LoanPrime plus 2.75%8/5/203132.5 32.5 27.8 0.01 %
Ronald L. McFarlain dba Cajun Connection(#,^)2958 IL-178, North Utica, IL 61373Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/5/204633.4 33.4 36.2 0.01 %
C&J General Engineering(#,^)3060 Thorntree Dr #10, Chico, CA 95973Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/4/204627.4 27.4 26.6 0.01 %
P.O.P Enterprises LLC(#,^)860 Constellation Dr, Decatur, GA 30033Administrative and Support ServicesTerm LoanPrime plus 2.75%8/3/20314.4 4.4 3.8 — %
J &C May Properties, LLC.(#,^)315 Sylamore Ave, Mountain View, AR 72560Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%7/30/203119.3 19.3 16.5 0.01 %
100% Permanent Inc.(#,^)1315 N. Larrabee St., Chicago, IL 60610Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/30/204632.8 32.8 35.5 0.01 %
Blue Water Dynamics, LLC dba Dougherty Manufacturing & Solace Boats, L(#,^)308 South Old County Rd, Edgewater, FL 32132Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%7/30/20461,153.9 1,153.9 1,302.7 0.42 %
GLH delivering services Inc and Paisley Logistics Inc(#,^)121 Pine Rd, Easley, SC 29642Couriers and MessengersTerm LoanPrime plus 2.75%7/30/2031268.9 268.9 230.2 0.07 %
Patriot Services Group Inc(#,^)108 Phillips Circle, Columbiana, AL 35051Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/30/203122.0 22.0 18.8 0.01 %
Crux Solutions LLC dba Waddell's Riverside Funeral Directors(#)6938 Westover St., Houston, TX 77087Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/30/203119.5 19.5 20.6 0.01 %
Kings Autoshow Inc and Grand Auto Group LLC(#,^)5815 Church Ave, Brooklyn, NY 11203Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%7/30/2031113.5 113.5 99.7 0.03 %
Melissa S. Scharf(#,^)14313 Califa St., Sherman Oaks, CA 91401Social AssistanceTerm LoanPrime plus 2.75%7/30/20318.8 8.8 7.5 — %
The Travel Society LLC;Religious Travel International LLC(#,^)650 S Cherry St., Denver, CO 80246Administrative and Support ServicesTerm LoanPrime plus 2.75%7/30/203185.0 85.0 72.8 0.02 %
AA Power Equipment, Inc(#,^)999 Mansell Rd, Ste B, C, & D, Roswell, GA 30076Nonstore Retailers Term LoanPrime plus 2.75%7/30/203178.0 78.0 66.8 0.02 %
Charles P Carpenter dba All-Ways Pumping(#,^)5701 Beckford Ave, Tarzana, CA 91356Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/30/2031109.6 109.6 107.8 0.03 %
CIRLABS, INC,Outcome Driven Innovation and Spracht Inc(#,^)974 Commercial St., Palo Alto, CA 94043Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%7/30/203150.7 50.7 43.4 0.01 %
Global Packaging Solutions, Inc(#,^)6259 Progressive Ave, San Diego, CA 92154Miscellaneous ManufacturingTerm LoanPrime plus 2.75%7/29/2031219.4 219.4 195.0 0.06 %
GN Enterprises LLC(#,^)4507 SE Ramona St., Portland, OR 97206Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%7/29/204685.0 85.0 93.6 0.03 %
198
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Kamboj Investments Inc dba Chicago's Pizza with Twist(#)1156 South Main St., Manteca, CA 95337Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/29/203115.0 15.0 13.0 — %
On Spot Techs Ltd dba Wi-Fi Surveyors(#,^)4732 Dixie Dr South, Dayton, OH 45439Repair and MaintenanceTerm LoanPrime plus 2.75%7/29/204617.0 17.0 18.2 0.01 %
Karson A Schepp(#,^)8715 Hwy 14, Kramer, ND 58748Crop ProductionTerm LoanPrime plus 2.75%7/29/203134.1 34.1 30.7 0.01 %
Rocky Mountain Concrete, Inc(#,^)6674 MALTESE LN A, Bozeman, MT 59718Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/29/2031244.2 244.2 226.2 0.07 %
Tiny Tots Kingdom Inc(#,^)4961 N Dixie Hwy Stes 2-6, Oakland Park, FL 33334Social AssistanceTerm LoanPrime plus 2.75%7/29/203119.5 19.5 16.7 0.01 %
Cherich Enterprises dba Yogasix Pasadena(#,^)277 W Green St. Ste 110, Pasadena, CA 91105Educational ServicesTerm LoanPrime plus 2.75%10/29/203152.0 52.0 45.0 0.01 %
Dream Splash International LLC(#,^)650 S Cherry St., Denver, CO 80246Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/29/203182.9 82.9 71.2 0.02 %
Travis Construction Company, LLC(#,^)11258 Bayou Bernard Rd, Gulfport, MS 39503Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/28/203129.3 29.3 25.9 0.01 %
Five Rivers 1938 Enterprises, Inc dba The Hummus Republic(#)3032 W Jack London Blvd, Livermore, CA 94551Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/28/203219.4 19.4 17.2 0.01 %
Clinically Speaking, LLC(#,^)207 N Davies Rd, Lake Stevens, WA 98258Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/27/2031351.1 351.1 300.5 0.10 %
WLG Inc(#,^)6257 West Ave J9, Lancaster, CA 93536Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%7/27/2046180.9 180.9 193.1 0.06 %
Jaime Gervasi & Associates LLC(#,^)3243 Eastern Ave, Baltimore, MD 21224Real EstateTerm LoanPrime plus 2.75%7/27/203115.1 15.1 13.7 — %
K Wallace, LLC dba Fit Learning Columbus(#,^)6631 Commerce Pkwy Ste G, Dublin, OH 43085Educational ServicesTerm LoanPrime plus 2.75%7/26/20313.3 3.3 2.9 — %
Tarun LLC, dba Signature Wine & Liquor(#)325 South Limestone, Lexington, KY 40508Food and Beverage Stores Term LoanPrime plus 6.5%7/23/20316.1 6.1 6.1 — %
Mattress and Rug outlet LLC(#,^)1818 State St., Schenectady, NY 12304Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%7/23/203158.5 58.5 60.8 0.02 %
Premier Tech Security, LLC(#,^)1616 Westgate Circle, Ste 111, Brentwood, TN 37027Administrative and Support ServicesTerm LoanPrime plus 2.75%7/23/203116.7 16.7 14.3 — %
GSK Industries Inc dba Quality One Pool Management(#,^)3217 W Tompkins Ave, Las Vegas, NV 89103Administrative and Support ServicesTerm LoanPrime plus 2.75%7/23/203114.6 14.6 12.5 — %
52 Tran, LLC(#,^)773 South MacArthur Blvd, Ste 205, Coppell, TX 75019Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/23/203117.2 17.2 14.7 — %
L.A. Crescent LLC dba Aamco Car Care Center(#,^)1010 East 6th Ave, Stillwater, OK 74074Repair and MaintenanceTerm LoanPrime plus 2.75%7/23/203129.3 29.3 25.8 0.01 %
Big Brand Management Ltd. Co.(#,^)512 East 11th St., Houston, TX 77008Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%7/23/204679.8 79.8 90.1 0.03 %
Delbello Enterprises LLC dba Il Portico(#,^)273 West Route 130 South, Burlington, NJ 08016Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/23/203147.6 47.6 50.3 0.02 %
All Regional Recyclers of Wood LLC and Superior Carting & Waste System(#,^)104 Wooster St., Bethel, CT 06801Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%7/22/203153.5 53.5 50.4 0.02 %
199
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Ever Prosperous Realty Inc(#,^)430 S Chandler Ave, Monterey Park, CA 91754Real EstateTerm LoanPrime plus 2.75%7/22/203114.3 14.3 12.2 — %
Basha Home Improvement LLC(#)41 Van Houten Ave, Jersey City, NJ 07305Construction of BuildingsTerm LoanPrime plus 6.5%7/21/20312.5 2.5 2.5 — %
TDI Global Solutions Inc(#,^)1 Riverfront Plaza, Ste 12, Lawrence, KS 66044Paper ManufacturingTerm LoanPrime plus 2.75%7/21/2031195.0 195.0 174.5 0.06 %
Profit Stewards LLC dba AAMCO Transmissions of Phoenixville(#,^)458 Schuylkill Rd, Phoenixville, PA 19460Repair and MaintenanceTerm LoanPrime plus 2.75%7/21/20315.2 5.2 4.5 — %
Jeragardens Wedding Rentals LLC,(#)5842 South 1150 West, Ogden, UT 84405Rental and Leasing ServicesTerm LoanPrime plus 6.5%7/20/20316.1 6.1 6.1 — %
Sparta Athletic Campus, LLC(#,^)115 Sparta Ave, Sparta, NJ 07871Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/20/2046212.9 212.9 240.4 0.08 %
110 Enterprises, LLC dba Boomerang Bar and Grill(#,^)110 Limekiln Rd, Unit 2, New Cumberland, PA 17070Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/20/2046275.6 275.6 306.8 0.10 %
Ecos Consulting, LLC(#,^)1519 Roller Rd, Ocean Township, NJ 07712Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/20/203119.9 19.9 17.1 0.01 %
K-M-P Auto Group LLC(#,^)1788 Austin Hwy, San Antonio, TX 78218Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%7/19/204632.1 32.1 36.0 0.01 %
Colorado Travel Solutions LLC(#,^)2895 Queen St, Colorado Springs, CO 80904Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%7/16/203166.7 66.7 57.1 0.02 %
Monarch Construction and Roofing LLC(#,^)700 Corporate Circle, Golden, CO 80401Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/16/203143.4 43.4 37.1 0.01 %
Rymax Electronics Inc(#,^)1805 5th Ave. Ste F, Bay Shore, NY 11706Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/8/204650.2 50.2 56.7 0.02 %
Accommodating Financial & Tax Services, LLC(#,^)5151 Monroe St., Toledo, OH 43623Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/8/203112.6 12.6 12.4 — %
The Iron Smith LLC dba Anytime Fitness Nevada(#,^)1818 Fawcett Pkwy, Nevada, IA 50201Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/8/203128.8 28.8 24.7 0.01 %
156 W. Salon & Boutique, llc dba Shabby Shek Salon and Boutique(#,^)156 West Tioga St., Tunkhannock, PA 18657Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/2/204639.9 39.9 40.8 0.01 %
Jason M. Eberhart dba Stae Farm(#,^)600 Allegheny St., Jersey Shore, PA 17740Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/2/204625.6 25.6 26.5 0.01 %
Afrodisiac Enterprises LLC dba Afrodisiac Nola(#,^)5363 Franklin Ave, New Orleans, LA 70122Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/1/204629.8 29.8 32.4 0.01 %
Royal Restaurants, LLC(#,^)138 Griffin Rd, Ruston, LA 71270Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/2031241.8 241.8 229.6 0.07 %
Ata&Ana LLC dba Ata Ana Home Health Agency(#,^)8304 Old Courthouse Rd Unit D, Vienna, VA 22182Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/30/203154.9 54.9 54.5 0.02 %
Craftwork Carpentry and Millwork Inc.(#,^)2777 S Financial Ct., Sanford, FL 32773Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/30/2031112.4 112.4 95.5 0.03 %
Gene Properties LLC,4 Winnapaug Rd LLC and,144 Atlantic Ave LLC(#,^)149 Atlantic Ave, Westerly, RI 02891AccommodationTerm LoanPrime plus 2.75%6/30/20461,116.8 1,116.8 1,260.8 0.41 %
Zollner Enterprises, Inc(#,^)221 Hulls Chapel Rd, Fredericksburg, VA 22406Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/30/203148.4 48.4 41.0 0.01 %
200
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
VILLELA CPA PLLC(#,^)3877 SE 5th Ave, Ocala, FL 34480Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/203114.5 14.5 12.3 — %
Tidal Commerce Inc(#,^)2100 Clearwater Dr, Oak Brook, IL 60523Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%6/30/2031317.3 317.3 268.4 0.09 %
Sheldon T Banks LLC(#,^)2340 W Carpenter Rd, Flint, MI 48505Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/30/204657.4 57.4 64.8 0.02 %
Holland Holdings LLC(#,^)1102 Blackbriar Cir Ne, Hartselle, AL 35640Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/30/2031193.8 193.8 170.1 0.05 %
Martin C. Liu & Associates, PLLC(#,^)135 Bowery St., New York, NY 10002Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/203148.4 48.4 50.9 0.02 %
Eagle's Eye Comfort Care Miramar LLC(#,^)6308 SW 27th St, Miramar, FL 33023Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/30/204665.2 65.2 70.6 0.02 %
New York Equestrian Center Ltd(#,^)633 EAGLE AVE, WEST HEMPSTEAD, NY 11552Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/30/20461,240.9 1,240.9 1,400.9 0.45 %
Neil Hoss, D.M.D., LLC.(#,^)115 Hartford Turnpike, Tolland, CT 06084Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/30/203127.2 27.2 23.5 0.01 %
Kings Autoshow Inc dba Brooklyn Mitsubishi and Grand Auto Group LLC(#,^)5815 Church Ave, Brooklyn, NY 11203Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/30/203137.3 37.3 37.6 0.01 %
Superior Coach Interiors, Inc(#,^)211 Babb Dr, Lebanon, TN 37087Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%6/30/2031370.9 370.9 389.7 0.13 %
360 Concepts Group, LLC dba Bowl 360 Astoria(#,^)19-45 49th St., Astoria, NY 11105Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/29/2031113.4 113.4 95.7 0.03 %
Seema Aijaz Enterprises Inc dba Edible Arrangements(#,^)1040 South Broadway, Unit 6, Hicksville, NY 11801Food and Beverage Stores Term LoanPrime plus 2.75%6/29/203128.0 28.0 24.3 0.01 %
Yogi's Logistics Inc and 9371 Truck Yard LLC(#,^)9371 Jackson Rd, Sacramento, CA 95826Truck TransportationTerm LoanPrime plus 2.75%6/29/2046141.0 141.0 159.1 0.05 %
O.P.P. Presents LLC(#,^)15927 Pioneer Blvd, Norwalk, CA 90650Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/29/203114.0 14.0 11.8 — %
CALTEL, INC.(#,^)2309 Acie Ave, Conway, SC 29528Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%6/29/203187.6 87.6 83.3 0.03 %
Little Imaginations Learning Center Inc(#,^)189 toll Gate Rd,, Warwick, RI 02886Social AssistanceTerm LoanPrime plus 2.75%6/29/2046113.6 113.6 118.1 0.04 %
La Favorita Radio Network(#,^)4043 Geer Rd, Hughson, CA 95326Broadcasting (except Internet)Term LoanPrime plus 2.75%6/29/2046178.7 178.7 200.3 0.06 %
HTE Acquisition, LLC dba Hi Tech Engineering(#,^)4600, Calle Quetza, Camarillo, CA 93012Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/28/203151.2 51.2 46.0 0.01 %
Troung Enterprises Inc(#,^)1305 SW 107th Ave, Miami, FL 33174Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/28/20319.7 9.7 8.2 — %
KDKB Properties, LLC and US Press, LLC(#,^)1628-A James P. Rodgers Dr, Valdosta, GA 31601Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%6/25/2031691.8 691.8 607.3 0.20 %
J & J Rocket Fizz General Partnership(#,^)3155 Outlet Dr Space E020, Edinburgh, IN 46124Food and Beverage Stores Term LoanPrime plus 2.75%6/25/203114.5 14.5 12.3 — %
Nevada Adult Day healthcare Centers Inc(#,^)2008 S Jones Blvd, Las Vegas, NV 89146Social AssistanceTerm LoanPrime plus 2.75%6/25/203143.6 43.6 45.7 0.01 %
Kevin Head Agency, LLC(#,^)941 Moores Ferry Rd, Villa Rica, GA 30180Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%6/25/204675.8 75.8 85.6 0.03 %
201
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
CURVE MART C-STORE AND CAJUN DELI LLC dba Curve Mart(#,^)44063 Hwy 431, Saint Amant, LA 70774Gasoline Stations Term LoanPrime plus 2.75%6/25/2046183.7 183.7 198.2 0.06 %
US Press, LLC(#,^)1628-A James P. Rodgers Dr, Valdosta, GA 31601Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%6/25/2046539.4 539.4 568.4 0.18 %
T.A.L.E.N.T. Leadership LLC dba T.A.L.E.N.T. Leadership Napoli's Itali(#,^)4280 Lavon Dr, Garland, TX 75040Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/25/203128.1 28.1 23.7 0.01 %
The Buckeye Health Group, LLC(#,^)8120 Walcot Ln, Cincinnati, OH 45249Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/203148.4 48.4 41.7 0.01 %
Alpha Variance Solutions, LLC(#,^)48 Western Dr, Ardsley, NY 10502Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/203172.7 72.7 62.3 0.02 %
Northwest Evergreen Innovations, LLC and James Hamilton Gregersen(#,^)6791 Bethel Rd SE, Port Orchard, WA 98367Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/24/204652.2 52.2 58.6 0.02 %
DAVIS WINES LLC and BRICK & MORTAR WINES, LLC(#,^)25 Healdsburg Ave Bld 20, Healdsburg, CA 95448Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%6/24/203190.2 90.2 82.0 0.03 %
Craftwork Carpentry and Millwork Inc(#,^)2777 S Financial Ct., Sandford, FL 32773Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/24/2046178.7 178.7 191.2 0.06 %
JC's Tall Glass Inc(#,^)2810 Hypoluxo Rd, Lantana, FL 33462Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/23/2046208.3 208.3 227.6 0.07 %
The AAC Speech Clinic, LLC and Red Rock Neurorehabilitation Center(#,^)9260 West Sunset Rd, Ste 204, Las Vegas, NV 89148Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/23/203133.9 33.9 28.7 0.01 %
Pampanguena Market Place Corp(#,^)18623 SW 107th Ave, Miami, FL 33157Food and Beverage Stores Term LoanPrime plus 2.75%6/23/204648.2 48.2 48.5 0.02 %
Vance Ewing LLC dba The Bow & Barrel Sportsmen Center(#,^)22940 Harlan Lane, St Robert, MO 65584Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/22/204649.6 49.6 54.8 0.02 %
2B St. Marks, Inc dba Duetto(#,^)540 Greene St., Unit 1, Key West, FL 33040Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/22/203120.3 20.3 17.2 0.01 %
Prestige Nationwide, LLC dba Eastern Standard(#,^)1131 Burke St., Winston-Salem, NC 27101Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/22/204650.0 50.0 52.5 0.02 %
Bluewater Laundry & Linen, llc(#,^)2315 Main St., Loris, SC 29569Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/21/204671.2 71.2 80.4 0.03 %
Vancole Investments, Inc(#,^)876 Virginia Ave, Hapeville, GA 30354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/203169.2 69.2 58.4 0.02 %
Butcher Block of Woodland Park, LLC(#,^)320 S Baldwin St, Woodland Park, CO 80863Food and Beverage Stores Term LoanPrime plus 2.75%6/21/203114.5 14.5 12.3 — %
Ellerman Engineerting & Innovations, Inc and R & S Properties and Hold(#,^)4444 Forest St., Leonard, MI 48367Machinery ManufacturingTerm LoanPrime plus 2.75%6/21/203145.1 45.1 42.1 0.01 %
Francis L Bailey Jr dba Carolina GPS Services(#,^)1545 Langston Dr, Johns Island, SC 29455Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/21/203119.7 19.7 16.7 0.01 %
Two Mean Beans, LLC dba Coffee and Crepes(#,^)315 Crossroads Blvd, Floor G, Cary, NC 27518Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/203111.2 11.2 9.9 — %
Bluewater Laundry & Linen, LLC(#,^)2315 Main St., Loris, SC 29569Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/21/2031117.0 117.0 108.0 0.03 %
202
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
K&R Enterprises III Inc dba The Frozen Cow(#,^)6710 Post Rd, North Kingstown, RI 02852Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/18/204635.8 35.8 39.3 0.01 %
Subhash Joshi LLC dba Mata Hardware(#,^)6370 Mae Anne Ave, Stes 1 and 2, Reno, NV 89523Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/18/203133.3 33.3 28.5 0.01 %
Bolton Construction, LLC and Meeker Stone Company, LLC(#,^)73544 CO-64, Meeker, CO 81641Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%6/16/2031144.9 144.9 126.5 0.04 %
Semper Foods, LLC(#,^)7000 W. Palmetto Park Rd,, Boca Raton, FL 33433Wholesale Electronic Markets and Agents and Brokers Term LoanPrime plus 2.75%6/15/203148.4 48.4 40.9 0.01 %
Integrated Rehabiilitation Inc(#,^)10340 SE Division St., Portland, OR 97266Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/15/2031145.3 145.3 135.5 0.04 %
AAAK Investments LLC(#,^)19595 15 Mile Rd, Clinton Twp, MI 48035Repair and MaintenanceTerm LoanPrime plus 2.75%6/14/204640.9 40.9 45.7 0.01 %
Edgar I Cordoba dba Edgar Cordoba Insurance Agency(#,^)9201 Dyer St., El Paso, TX 79924Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%6/14/203115.5 15.5 13.1 — %
360 Cloud Solutions, LLC and 360 Cloud Apps, LLC(#,^)299 S Main St., Salt Lake City, UT 84111Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/2031342.4 342.4 289.1 0.09 %
21st Century Living LLC dba 21st Century Concierge(#,^)33 Fitchett St., Poughkeepsie, NY 12601Construction of BuildingsTerm LoanPrime plus 2.75%6/11/203124.2 24.2 24.7 0.01 %
BearWaters Brewing Company(#,^)101 Park St., Canton, NC 28716Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/11/204664.5 64.5 72.1 0.02 %
The Ogden Group of Rochester, Inc(#,^)78 Brunswick St, Rochester, NY 14607Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/11/203110.7 10.7 9.1 — %
Dulceria NYC Inc(#,^)2220 Frederick Douglass Blvd, New York, NY 10026Food ManufacturingTerm LoanPrime plus 2.75%6/10/20319.7 9.7 8.4 — %
LVM Constructiion LLC(#,^)194 N Grove St., East Orange, NJ 07017Administrative and Support ServicesTerm LoanPrime plus 2.75%6/10/203114.5 14.5 12.5 — %
Halikamai Inc dba Neighborhood Beer and Wine(#,^)510 Farm Market Rd 718, Unit A, Newark, TX 76071Gasoline Stations Term LoanPrime plus 2.75%6/10/203119.4 19.4 20.3 0.01 %
899 Toscanini, LLC(#)899 Main St., Cambridge, MA 02139Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/203130.0 30.0 29.8 0.01 %
Tri-Span Construction LLC dba Lawrence County Sand and Stone(#,^)136 Southland Dr, Louisa, KY 41230Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%6/8/203143.6 43.6 45.0 0.01 %
Swantown Inn & Spa LLC(#,^)1431 11th Ave SE, Olympia, WA 98501AccommodationTerm LoanPrime plus 2.75%6/8/204634.7 34.7 39.2 0.01 %
Center for Jewish Addiction Rehabilitation, LLC dba Tikvah Lake Recove(#,^)6549 Rajol Dr, Sebring, FL 33875Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/3/203133.9 33.9 35.6 0.01 %
La Taqueria, Inc.(#,^)10 Greenwich Ave, Greenwich, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/3/203124.2 24.2 20.5 0.01 %
Tec-Com Low Voltage Solutions Inc(#,^)2045 Live Oak Blvd, Yuba City, CA 95991Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/2/203133.9 33.9 28.9 0.01 %
Aeffect, Inc(#,^)5600 N River Rd, Ste 800, Rosemont, IL 60018Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/28/203138.5 38.5 32.5 0.01 %
203
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Amazing G, LLC and Victoria Armstrong-Mensah(#,^)3030 N Saranac, Mesa, AZ 85207Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%5/28/203125.5 25.5 24.9 0.01 %
Neuline Health Management LLC(#,^)1402 S Custer Rd, McKinney, TX 75070Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/27/203177.5 77.5 65.4 0.02 %
Shericka Newsome dba Little Sunshine's Academy(#,^)474 N Chew Rd, Hammonton, NJ 08037Social AssistanceTerm LoanPrime plus 2.75%5/27/20314.8 4.8 4.1 — %
Compass Technical Services, Inc.(#,^)2600 Gravel Dr, Building 7, Fort Worth, TX 76118Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/27/203124.1 24.1 20.3 0.01 %
Keystone Contracting, LLC dba Keystone Roofing and Siding, LLC(#,^)205 Route 9 N, freehold, NJ 07728Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/27/2046185.4 185.4 192.1 0.06 %
Dr. Karissa Walton, PLLC dba The Mobile Health Doc(#,^)140 N Granite St., Prescott, AZ 86301Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/26/203146.7 46.7 41.5 0.01 %
Rachel Reyes-Bergano, D.O. Inc dba Contempo Aesthetics(#,^)708 E Colorado Blvd, Pasadena, CA 91101Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/26/203164.5 64.5 54.5 0.02 %
MPI Automotive Corp(#,^)19925 Stevens Creek Blvd, Ste 100, Cupertino, CA 95014Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%5/26/203148.8 48.8 41.6 0.01 %
Eckles Generation Heating & Air Service, Inc(#,^)6000 Poplar Ave, Memphis, TN 38119Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/26/203113.1 13.1 11.7 — %
ELIOT'S ADULT NUT BUTTERS LLC(#,^)1140 SE 7th, Ste 190, Portland, OR 97214Nonstore Retailers Term LoanPrime plus 2.75%5/26/203110.9 10.9 9.2 — %
Hotel California Salon LLC dba Beverly Hills Lashes(#,^)872 Huntley Dr, West Hollywood, CA 90069Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/203126.5 26.5 22.4 0.01 %
Bock Technologies Inc.(#,^)11496 Luna Rd Ste 1200, Dallas, TX 75234Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/25/203133.7 33.7 28.4 0.01 %
BGS Consulting LLC dba Your Digital Canvas(#,^)5608 Malvey Ave, Fort Worth, TX 76107Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/25/20317.2 7.2 6.1 — %
Ecru Designs LLC(#,^)275 North Wyoming Ave, South Orange, NJ 07079Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%5/24/203160.6 60.6 51.2 0.02 %
Tropics LLC(#,^)6453 Chupp Rd, Lithonia, GA 30058Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/24/203110.9 10.9 9.2 — %
LEX-MAR SERVICE INC(#,^)12278 NW 106th Court, Medley, FL 33178Repair and MaintenanceTerm LoanPrime plus 2.75%5/21/204619.8 19.8 21.5 0.01 %
League One Logistics, LLC(#,^)150 Hiram Industrial Dr, Hiram, GA 30141Truck TransportationTerm LoanPrime plus 2.75%5/21/204674.3 74.3 81.2 0.03 %
JJBM LLC dba Alumni Grill(#,^)3316 Pacific Ave, Wildwood, NJ 08260Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/21/204620.3 20.3 22.9 0.01 %
Hankemeier Holdings LLC dba Grow Salon(#,^)205 W 6th St., Ste 105 & 110, Georgetown, TX 78626Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/20/203118.3 18.3 15.4 — %
Vernon Alexander dba Southern Ohio Hunting Preserve(#,^)31625 Goosecreek Rd, McArthur, OH 45651Animal Production and AquacultureTerm LoanPrime plus 2.75%5/19/203122.6 22.6 23.7 0.01 %
Foreclosure Excess Proceeds, LLC(#,^)2415 E Camelback Rd, Ste 700, Phoenix, AZ 85016Real EstateTerm LoanPrime plus 2.75%5/19/203133.7 33.7 28.4 0.01 %
Compass CFO Holdings, LLC(#,^)4400 Rt 9 Ste 1000, Freehold, NJ 07728Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/19/203115.2 15.2 12.9 — %
204
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Woodzzy LLC dba Dba Woodzzy Bar & Resturant(#)1133 Clarkson Ave, Brooklyn, NY 11212Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/19/2046179.7 179.7 199.2 0.06 %
Motor Messenger NYC Inc(#,^)81-36 Baxter Ave, Queens, NY 11373Couriers and MessengersTerm LoanPrime plus 2.75%5/18/2031169.3 169.3 149.2 0.05 %
THE LAW OFFICES OF LAWRENCE A. BECKENSTEIN P.C(#,^)320 E 65th St., Ste #619, New York, NY 10065Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/17/203114.4 14.4 12.2 — %
Earth Analytical Sciences, Inc.(#,^)4825 Ward Dr, Beaumont, TX 77705Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/17/203191.2 91.2 82.2 0.03 %
Rev Motorsports, LLC dba Speed Concept(#,^)20745 SW Tualatin Valley Hwy, Ste 120, Aloha, OR 97003Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%5/13/203124.7 24.7 20.9 0.01 %
Abatement Pro n Demo, Inc(#,^)468 North Canal St., Lawrence, MA 01841Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/12/203133.7 33.7 30.4 0.01 %
Silverado Sales Inc dba Husker Sit N Sleep(#,^)2120 Central Ave, Kearney, NE 68847Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%5/11/203118.3 18.3 15.4 — %
Clavismen LLC dba Katy Wines and Spirits(#,^)5901 B Hwy Blvd, Katy, TX 77494Food and Beverage Stores Term LoanPrime plus 2.75%5/7/20318.2 8.2 7.0 — %
Foy Commerce LLC(#)1725 Park Lane S, Ste 2,, Jupiter, FL 33458Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/5/20316.1 6.1 5.9 — %
Hank Thomas Performance(#,^)917 Dixie Club Rd, Winston-Salem, NC 27107Nonstore Retailers Term LoanPrime plus 2.75%5/5/203133.7 33.7 33.5 0.01 %
Boyd's Cardinal Hollow Winery dba Boyd's Cardinal Hollow Winery(#,^)1830 West Point Pike, West Point, PA 19486Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%5/4/204689.2 89.2 99.8 0.03 %
Grover Jackson Engineering, LLC(#,^)1880 Campbellsville Rd, Pulaski, TN 38478Miscellaneous ManufacturingTerm LoanPrime plus 2.75%4/30/204653.4 53.4 57.2 0.02 %
3G Graphix LLC dba Elemento Graphics(#,^)7160 Zionsville Rd, Zionsville Rd, IN 46268Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/203113.8 13.8 11.9 — %
NebulOS, Inc(#,^)5428 Twilight Way, Parker, CO 80237Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/203157.4 57.4 50.2 0.02 %
Thomas Wayne Belcher Jr dba Area 51 Tattoo Body Piercing & Supply(#,^)230 Broadway St., Jackson, OH 45640Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/29/204611.9 11.9 13.0 — %
5 Star Renovations, Inc. and Five Star Group, Inc.(#,^)2997 US-29, Moreland, GA 30259Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/29/203120.9 20.9 20.4 0.01 %
822 GROUP LLC(#,^)136 Treehaven St., Gaitherburg, MD 20878Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/28/203147.8 47.8 40.4 0.01 %
G.A.P. Mechanical Inc.(#,^)2500 North Forsyth Rd, C29, Orlando, FL 32807Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/28/203121.5 21.5 18.5 0.01 %
Cajun Made Charters, L.L.C(#,^)27900 Hwy 1, Golden Meadow, LA 70357Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%4/28/203142.7 42.7 41.0 0.01 %
Janie Lacy & Associates, LLC dba Life Counseling Solutions(#,^)670 N Orlando Ave, #103, Maitland, FL 32751Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/26/204633.7 33.7 37.3 0.01 %
Max Rosin & Associates, Inc(#,^)37-43 West 14th St., Ste 304, New York, NY 10011Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/23/203154.9 54.9 46.4 0.01 %
J-Tech Industries Inc(#,^)232 Alexandria Dr, Mooresville, NC 28115Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/23/20316.2 6.2 5.3 — %
205
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Acra Cast, Inc.(#,^)1837 First St., Bay City, MI 48708Primary Metal ManufacturingTerm LoanPrime plus 2.75%4/22/203120.2 20.2 19.6 0.01 %
Wells Cutting Edge, LLC(#,^)4201 North Cochrane Lane, Erda, UT 84074Administrative and Support ServicesTerm LoanPrime plus 2.75%4/22/203133.5 33.5 28.9 0.01 %
Twenty Ten Agency, LLC(#,^)340 S Lemon Avnue, Walnut, CA 91789Educational ServicesTerm LoanPrime plus 2.75%4/21/20313.8 3.8 3.2 — %
Oregon Glass Repair, LLC dba SuperGlass Windshield Repair; SuperGla(#,^)2972 SE 38th Court, Hillsboro, OR 97123Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/203116.5 16.5 14.0 — %
AMERICAN CINEMA INSPIRES, INC and CEO Multimedia, Inc(#,^)15363 Victory Blvd, Van Nuys, CA 91406Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%4/20/203133.5 33.5 28.3 0.01 %
Tierra Corrosion Control, Incorporated(#,^)1608 Schofield Lane, Farmington, NM 87401Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/16/203123.9 23.9 25.1 0.01 %
Gateway Veterinary Services P.C. dba Liberty Animal Clinic(#,^)9212 Liberty Ave, Ozone Park, NY 11417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/15/203143.1 43.1 40.6 0.01 %
RV Solar LLC(#)3442 E Bulk Lane, Oak Creek, WI 53154Specialty Trade ContractorsTerm LoanPrime plus 6.5%4/14/20316.0 6.0 5.8 — %
Stephanie Ann Doty(#)82 Diggins Dr, Folsom, CA 95630Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%4/14/20313.6 3.6 3.5 — %
Lockett Trucking and Transport LLC(#)612 Colebridge Dr, Blacklick, OH 43004Truck TransportationTerm LoanPrime plus 6.5%4/14/20316.0 6.0 5.8 — %
College Economy Inc(#,^)679 Wedgewood Dr, Hanover Park, IL 60133Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/13/203133.5 33.5 28.3 0.01 %
Gerald Scott Lyda dba Edneyville Wood Products(#,^)3555 Chimney Rock Rd, Hendersonville, NC 28792Wood Product ManufacturingTerm LoanPrime plus 2.75%4/9/204632.5 32.5 36.7 0.01 %
Motor City Bakery Inc dba Mexi bake(#,^)8100 Radcliffe St., Detroit, MI 48210Food ManufacturingTerm LoanPrime plus 2.75%4/7/2046103.5 103.5 113.0 0.04 %
Knight Settlement Sand & Gravel, LLC(#,^)7291 Knight Settlement Rd, Bath, NY 14810Mining (except Oil and Gas)Term LoanPrime plus 2.75%3/31/2031157.8 157.8 137.5 0.04 %
Barrett Enterprises, LLC dba Barrett and Sons Used Cars(#,^)920 N Columbia St, Milledgeville, GA 31061Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/31/204644.0 44.0 42.8 0.01 %
Batteries in a Flash.com, Inc.(#,^)720 W Cheyenne Ave, North Las Vegas, NV 89030Nonstore Retailers Term LoanPrime plus 2.75%3/31/2046101.6 101.6 107.3 0.03 %
Trailer Marketing Services Inc(#,^)4560 State Route 233, Clinton, NY 13323Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/31/204666.7 66.7 75.3 0.02 %
Statewide Health Care, Inc(#,^)102 Oglethorpe Professional Court, Savannah, GA 31406Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/203158.9 58.9 50.0 0.02 %
Thomson Holdings Enterprises LLC dba Volusia County Towing(#,^)345 8th St., Daytona Beach, FL 32117Support Activities for TransportationTerm LoanPrime plus 2.75%3/31/2046109.3 109.3 110.2 0.04 %
Tober Building Company, LLC(#,^)3351 Brecksville Rd, Richfield, OH 44286Construction of BuildingsTerm LoanPrime plus 2.75%3/31/2031610.4 610.4 534.5 0.17 %
Triple B's, Inc dba Crews Door Company(#,^)12189 Livingston Rd, Manassas, VA 20109Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/31/204691.8 91.8 96.0 0.03 %
Barrett Enterprises, LLC(#,^)920 N Columbia St, Milledgeville, GA 31061Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/31/203120.0 20.0 16.9 0.01 %
206
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Quality Sound Communications, Inc dba Technology Source(#,^)1551 North Tustin Ave, Ste 125, Santa Ana, CA 92705TelecommunicationsTerm LoanPrime plus 2.75%3/31/2031127.4 127.4 107.6 0.03 %
TK Cleaning and Lawn Service LLC(#,^)4449 Beechaven Dr, Rock Hill, SC 29732Administrative and Support ServicesTerm LoanPrime plus 2.75%3/31/204624.7 24.7 27.9 0.01 %
La Dolce Vita Water Sports LLC,LDV GOLF CART & BIKE RENTALS LLC(#,^)408 Kelly Plantation Dr, Destin, FL 32541Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/31/2031339.8 339.8 355.7 0.12 %
Walking Urgent Care Inc(#,^)10308 West Sample Rd, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/2031237.6 237.6 217.7 0.07 %
Suncoast Premier Medical, LLC and Mario R Perez MD PA(#,^)1239 US-27, Clermont, FL 34714Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/2046100.3 100.3 104.3 0.03 %
TK Cleaning and Lawn Service LLC(#,^)4449 Beechaven Dr, Rock Hill, SC 29732Administrative and Support ServicesTerm LoanPrime plus 2.75%3/31/2031114.0 114.0 103.0 0.03 %
Empire State Adjuster's Corp.DBA Frankie M’s Auto Body East(#,^)419 West Main St., Smithtown, NY 11787Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/2046173.7 173.7 177.9 0.06 %
Bojax Auto Collision, Inc. dba Bojax Auto Body Repair(#,^)4712 Fernlee Ave, Royal Oak, MI 48073Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/203136.3 36.3 33.6 0.01 %
The Sign Company of Wilmington, Inc.(#,^)428 Landmark Dr, Wilmington, NC 28412Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/30/2046101.4 101.4 111.7 0.04 %
Bojax Auto Collision, Inc dba Bojax Auto Body Repair and Seman Real Es(#,^)4712 Fernlee Ave, Royal Oak, MI 48073Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/204623.5 23.5 24.3 0.01 %
Underground Toys USA, LLC dba Seven 20 and Wozniak Distribution(#,^)7626 Miramar Rd, San Diego, CA 92126Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/30/2031275.9 275.9 232.6 0.08 %
RH All Around Repair, LLC(#,^)2008 Coahuila Rd, Odessa, TX 79763Repair and MaintenanceTerm LoanPrime plus 2.75%6/30/204651.2 51.2 54.2 0.02 %
Drake Dance Academy LLC(#,^)5790 Marble Creek Stree, Dublin, OH 43016Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%7/30/2046136.4 136.4 145.5 0.05 %
Signet Media Inc(#,^)630 S.1st St., San Jose, CA 95113Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/203176.1 76.1 74.2 0.02 %
QXC Communications, Inc(#,^)3785 North Federal Hwy, Ste 205, Boca Raton, FL 33431TelecommunicationsTerm LoanPrime plus 2.75%3/29/203199.8 99.8 88.2 0.03 %
ALG-Health LLC and Axis LED Group, LLC(#,^)520 West Mulberry St., Bryon, OH 43506Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/29/20311,098.3 1,098.3 993.0 0.32 %
Kidz Choice Service Inc and Kidz Choice Holdings Inc(#,^)14-34 110th St., Flushing, NY 11356Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/2031199.7 199.7 168.3 0.05 %
Jason Watt Pictures, LLC(#,^)110 Broadway #507, Brooklyn, NY 11249Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/29/203117.6 17.6 14.8 — %
Markell Construction Inc(#,^)6248 N Woodstock St., Philadelphia, PA 19138Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/29/203122.6 22.6 19.1 0.01 %
Ground Breakers Construction, Inc.(#,^)2292 a/k/a 2274 Hayride Rd, Lebec, CA 93243Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%3/26/203127.0 27.0 28.3 0.01 %
207
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Johnson Diversified, Inc dba Plumbing Solutions(#,^)29802 Avenida De Las Banderas, Rancho Santa Margarita, CA 92688Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/26/203183.2 83.2 83.1 0.03 %
New Image Window & Doors Inc(#,^)705 Hennis Rd, Winter Garden, FL 34787Administrative and Support ServicesTerm LoanPrime plus 2.75%3/26/203125.1 25.1 26.3 0.01 %
Diversified Electric, LLC(#,^)1571 Mapledale St, Ferndale, MI 48220Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/26/203122.9 22.9 19.3 0.01 %
Leo Marketing LLC(#,^)1127 E Rio Grande Ave, El Paso, TX 79902Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/26/203114.3 14.3 13.3 — %
AUBURN ANALYTICAL LABS, INC(#,^)210 Bay City Rd, Midland, MI 48642Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/26/203123.8 23.8 20.0 0.01 %
Zebra Enterprises, LLC dba Shanty(#,^)213 3rd St., Eureka, CA 95501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/26/204633.6 33.6 38.0 0.01 %
Rob Smith dba Laundry Land(#,^)8913 Sierra Ave, Fontana, CA 92335Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/26/203118.6 18.6 15.9 0.01 %
Companion Plus Care, LLC(#,^)19849 Middlebelt Rd, Livonia, MI 48152Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%3/25/2046130.6 130.6 131.8 0.04 %
Millennium Family Practice LLC(#,^)6310 Steven Forest Rd, Columbia, MD 21045Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/25/203191.3 91.3 95.7 0.03 %
Allan Gilbert dba Allan Gilbert Builders(#,^)50 Jodi Dr, Belmont, NH 03220Construction of BuildingsTerm LoanPrime plus 2.75%3/25/203123.8 23.8 20.4 0.01 %
Party Town Chico LLC(#,^)1937 East 20th St. #B6, Chico, CA 95928Miscellaneous Store Retailers Term LoanPrime plus 2.75%3/25/203114.1 14.1 11.9 — %
Blasco Tire LLC(#)960 Memorial Dr, Griffin, GA 30223Motor Vehicle and Parts Dealers Term LoanPrime plus 6.5%3/24/20316.0 6.0 5.8 — %
Oscar Rene Guzman and American United Construction LLC(#,^)12520 Taylor Rd, Houston, TX 77041Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/24/2031171.3 171.3 146.9 0.05 %
Capco Swimming Pools LLC and. Capco Industries, LLC dba Premier Pools(#,^)5115 Savannah Green, Voy Omy, TX 78073Construction of BuildingsTerm LoanPrime plus 2.75%3/24/203133.3 33.3 32.3 0.01 %
Malik Dough L.L.C. and Steven L. Malik II(#,^)3347 Riverside Dr, North Tazewell, VA 24630Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/24/203110.0 10.0 8.6 — %
Linh Luong and Loc Luong(#,^)1209 W Main St., Peroria, IL 61606Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/24/203183.3 83.3 82.9 0.03 %
Icebox Cafe, L.C and Icebox Pantry, LLC(#,^)219 NE 3rd St., Hallandale Beach, FL 33009Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/24/2031140.1 140.1 121.4 0.04 %
Sundown Audio, LLC(#,^)514 W 21st St., Newton, NC 28658Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%3/24/203195.2 95.2 80.5 0.03 %
S.B. Southern Welding, L.L.C(#,^)300 Howard Rd, Waxahachie, TX 75165Machinery ManufacturingTerm LoanPrime plus 2.75%3/23/2031268.0 268.0 235.3 0.08 %
Spartan Technology Solutions, Inc.(#,^)125 Venture Blvd, Spartanburg, SC 29306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/22/203147.6 47.6 40.1 0.01 %
Clear Impact LLC and Clear Impact Inc(#,^)11300 Rockville Pike, #1001, Rockville, MD 20852Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/22/2031147.8 147.8 126.6 0.04 %
Tripark LLC(#,^)12630 Haynes Rd, Houston, TX 77066Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/19/2046148.6 148.6 153.5 0.05 %
208
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
JEJ LLC dba Hawaii Jerky Shop; DE.HI Foods(#,^)111 Sand Island Access Rd, Honolulu, HI 96819Food ManufacturingTerm LoanPrime plus 2.75%3/19/2046148.6 148.6 158.5 0.05 %
Jemas, LLC Dba Medicine Shoppe St Charles(#,^)488 S 5th St., St Charles, MO 63301Health and Personal Care Stores Term LoanPrime plus 2.75%3/19/203185.7 85.7 72.4 0.02 %
Natalie Dress Designers, LLC DBA Azaria Bridal(#,^)3710 US Hwy 9, Space D218, Freehold, NJ 07728Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%3/19/2031309.5 309.5 264.3 0.09 %
Richard Keith Robison Jr. Enterprises, Inc. dba R & R Restoration(#,^)1539 Apache Dr, Montgomery, TX 77316Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/19/203114.3 14.3 12.0 — %
David Edwin Harries(#,^)5506 Riverside Dr, Chino, CA 91710Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%3/19/203114.3 14.3 12.0 — %
AZ Dropship LLC dba A-Z Trading Co(#,^)735 Crofton St SE, Grand Rapids, MI 49507Nonstore Retailers Term LoanPrime plus 2.75%3/18/203147.6 47.6 40.2 0.01 %
Crystal H Thompson dba Advertise IT(#,^)718 N Main St., Norwood, CT 28128Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/18/203130.5 30.5 27.3 0.01 %
Zmetra Clear Span Structures, LLC(#,^)2 Old Worcester Rd, Dudley, MA 01571Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/18/2031119.1 119.1 116.2 0.04 %
WSCL, Inc(#,^)176 Rosa Court, Colton, CA 92324Construction of BuildingsTerm LoanPrime plus 2.75%3/18/203148.3 48.3 40.7 0.01 %
Northern Services Inc(#,^)2266 Central St., Ste6, Richmond, CA 94801Administrative and Support ServicesTerm LoanPrime plus 2.75%3/18/203147.6 47.6 40.1 0.01 %
LT Johnson DDS PLLC dba Brueggen Dental Implant Center(#,^)14626 Bellaire Blvd., Houston, TX 77083Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/18/2031318.9 318.9 268.8 0.09 %
Ryan Doyle Enterprises, LLC dba Earthworkers Landscaping(#,^)802 Klinger Ln, Lebanon, PA 17042Administrative and Support ServicesTerm LoanPrime plus 2.75%3/17/203114.3 14.3 13.1 — %
Battle Forged Fitness, LLC dba CrossFit 1976(#,^)3251 East Stone Court, Eagle Mountain, UT 84005Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/17/204654.7 54.7 51.0 0.02 %
EXAGEN SOLUTIONS INC(#,^)32 Waverly Cir, Waverly, NY 12189Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/16/203150.5 50.5 42.6 0.01 %
274 Construction Group, Inc(#,^)420 Raleigh St., Ste F, Wilmington, NC 28412Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%3/16/2031176.3 176.3 160.1 0.05 %
Crispeno Realty, Inc(#,^)9812 235th Pl SW, Edmonds, WA 98020Real EstateTerm LoanPrime plus 2.75%3/16/20318.8 8.8 7.4 — %
Benevolent Family Services LLC,(#)522 S Independence Blvd, Ste 201, Virginia Beach, VA 23452Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%3/15/20316.0 6.0 5.8 — %
Pavesh, LLC(#,^)9576 Potranco Rd, San Antonio, TX 78251Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2046166.0 166.0 175.9 0.06 %
INB Enterprise LLC(#)7761 Diamondback Dr, College Park, MD 20742Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%3/15/20316.0 6.0 5.8 — %
DTJ Enterprises, Inc dba West Falmouth Market(#,^)623 W Falmouth hwy, Falmouth, MA 02540Food and Beverage Stores Term LoanPrime plus 2.75%3/15/2046178.4 178.4 187.4 0.06 %
Hany and Associates LLC dba Integrity Tax Group(#,^)2020 S Oneida St., Denver, CO 80224Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/12/203153.4 53.4 45.0 0.01 %
Swick & Son Enterprises, Inc.(#,^)108 Mashell Ave North, Eatonville, WA 98328Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/12/203168.9 68.9 58.7 0.02 %
209
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Torchlight Academy Schools, LLC(#,^)116 County Farm Rd, Windsor, NC 27983Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/12/2046223.1 223.1 251.9 0.08 %
Kris-Leigh Catered Living at Severna Park LLC(#,^)831 Ritchie Hwy, Severna Park, MD 21146Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%3/12/2031687.8 687.8 720.3 0.23 %
Craftworks NW, LLC(#,^)12421 NE 117th Ave, Vancouver, WA 98662Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%3/12/203114.3 14.3 12.8 — %
Clean Energyz LLC(#,^)881 Alma Real Dr, Stes T-16, Pacific Palisades, CA 90272Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/11/203157.2 57.2 48.2 0.02 %
Motus Inc. dba Stage Your Home San Diego(#,^)7557 Convoy Ct, San Diego, CA 92111Real EstateTerm LoanPrime plus 2.75%3/11/203150.1 50.1 42.2 0.01 %
Clean Energyz LLC(#)881 Alma Real Dr Ste T-16, Pacific Palisades, CA 90272Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/11/203117.3 17.3 17.9 0.01 %
INTERNETZONE I, INC.(#,^)3131 Laurel Ave, Fullerton, CA 92835Other Information ServicesTerm LoanPrime plus 2.75%3/10/20319.5 9.5 8.0 — %
Monark, LLC(#,^)26050 Acero, Ste 411, Mission Viejo, CA 92691Food ManufacturingTerm LoanPrime plus 2.75%3/10/203133.4 33.4 28.1 0.01 %
ACTIVE FACILITY MONITORING, LLC(#,^)702 Ernest Dr, Port Orange, FL 32127Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/9/20319.4 9.4 7.9 — %
True Electrical Services LLC dba True Breaker Services(#,^)3773 Dinosaur St., Castle Rock, CO 80109Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/5/20315.7 5.7 4.8 — %
Charlie Chedda's LLC(#,^)1867 Academy Blvd, Colorado Springs, CO 80916Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/5/203122.8 22.8 23.0 0.01 %
3 A Ideas, LLC dba Bizzy Kids Learning Center(#,^)1401 Caplin Dr, Arlington, TX 76018Social AssistanceTerm LoanPrime plus 2.75%3/5/2046118.6 118.6 129.4 0.04 %
Nadal Company LLC(#,^)5923 Robindale Rd, Catonsville, MD 21228Repair and MaintenanceTerm LoanPrime plus 2.75%3/5/20314.8 4.8 4.0 — %
Giles Title and Escrow Services, LLC and Morgan Andrew Hoover(#,^)203 North 1st St., Pulaski, TN 38478Real EstateTerm LoanPrime plus 2.75%3/4/203129.5 29.5 27.3 0.01 %
Reginald L McClain dba McClain's Auto Detailing and Paint Refinish(#,^)2753 N 29th St., Milwaukee, WI 53210Repair and MaintenanceTerm LoanPrime plus 2.75%3/3/20467.1 7.1 8.0 — %
Ambrose Cubed LLC(#,^)6780 Hudspeth Rd, Harrisburg, NC 28075Wholesale Electronic Markets and Agents and Brokers Term LoanPrime plus 2.75%3/3/2046197.7 197.7 223.2 0.07 %
Metroguard Security & Risk Mgmt Inc.(#,^)338 Commerce Dr, Fairfield, CT 06825Administrative and Support ServicesTerm LoanPrime plus 2.75%3/2/2031196.5 196.5 165.6 0.05 %
Miss Academy, LLC dba Miss Houston Pageant(#,^)1111 Uptown Park Blvd #12, Houston, TX 77056Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/26/20319.4 9.4 8.0 — %
Goodsell/Wilkins, Inc(#,^)28175 Bluebell Dr, Laguna Niguel, CA 92677Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/25/203194.4 94.4 79.6 0.03 %
Anne M Prior LLC(#,^)5933 NW Wins Sivers Dr, Portland, OR 97220Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/25/203116.8 16.8 14.1 — %
Innovative Dental of Hannibal LLC(#,^)515 Clinic Rd., Hannibal, MO 63401Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/24/203147.3 47.3 39.8 0.01 %
Medissage Integrative Therapies, LLC(#,^)103 Twinridge Lane, Richmond, VA 23235Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/23/20467.3 7.3 8.3 — %
210
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
KOLOA KAI LLC and Stay Beach Cities, Inc(#,^)2-2514 Kaumualii Hwy, Kalaheo, HI 96741Real EstateTerm LoanPrime plus 2.75%2/22/20317.1 7.1 6.0 — %
TELAVERGE COMMUNICATIONS, LLC(#,^)8229 Foutain Ridge Dr, Plano, TX 75025Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/19/203133.1 33.1 27.9 0.01 %
Eagle Creek Landscape & Design(#,^)7574 Eagle Creek Rd, Cincinnati, OH 45247Administrative and Support ServicesTerm LoanPrime plus 2.75%2/19/203144.8 44.8 38.4 0.01 %
Eddy Auto Service Inc(#,^)901 NY-109, West Babylon, NY 11704Repair and MaintenanceTerm LoanPrime plus 2.75%2/18/204686.3 86.3 97.5 0.03 %
Ben Anderson 365(#,^)1567 E Valley Rd, Montecito, CA 93108Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/18/203147.3 47.3 39.8 0.01 %
Commonwealth Warehouse, Inc.(#,^)400-500 Murray Rd, Cincinnati, OH 45217Warehousing and StorageTerm LoanPrime plus 2.75%2/17/203154.3 54.3 45.8 0.01 %
ReenBoog Natural Hair Care, LLC(#,^)4051 Stone Mountain Hwy, Ste E106, Lilburn, GA 30047Health and Personal Care Stores Term LoanPrime plus 2.75%2/17/203118.9 18.9 16.2 0.01 %
Surgeon & Associates, Inc(#,^)733 Bargain St., Fayetteville, NC 28303Administrative and Support ServicesTerm LoanPrime plus 2.75%2/17/203128.4 28.4 28.1 0.01 %
Alima Mandiang, dba Mandiang Hair Braiding(#)242 E. Claremont Rd, Philadelphia, PA 19120Personal and Laundry ServicesTerm LoanPrime plus 6.5%2/17/20312.4 2.4 2.3 — %
SBRnet, Inc(#,^)10185 Spyglass Way, Boca Raton, FL 33498Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/17/203119.8 19.8 16.7 0.01 %
White Pine Logistics Inc(#,^)1281 Cobble Pond Way, Vienna, VA 22182Truck TransportationTerm LoanPrime plus 2.75%2/16/203155.1 55.1 46.4 0.02 %
Design Moves LLC(#,^)3235 North Dixie Hwy, Oakland, FL 33334Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/16/204683.9 83.9 91.2 0.03 %
Ryan Spataro dba The Minty Goat(#,^)6801 N Crystal Ave, Kansas City, MO 64119Administrative and Support ServicesTerm LoanPrime plus 2.75%2/16/20314.7 4.7 4.4 — %
Little Swimmers Inc.(#,^)2395 Monument Blvd, Concord, CA 94520Educational ServicesTerm LoanPrime plus 2.75%2/11/203147.2 47.2 40.4 0.01 %
UniGuide Media,LLC(#)105 Pearl St., Sausalito, CA 94965Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%2/11/20316.0 6.0 5.8 — %
A-One Refrigeration and Heating, Inc.(#,^)910 N 20th Ave, Pasco, WA 99301Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/11/2046286.2 286.2 307.5 0.10 %
A-One Refrigeration and Heating, Inc(#,^)910 N 20th Ave, Pasco, WA 99301Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/11/2031156.2 156.2 137.9 0.04 %
Hybrid Drive Batteries LLC(#,^)22607 E La Palma Ave, Ste 406, Yorba Linda, CA 92887Repair and MaintenanceTerm LoanPrime plus 2.75%2/10/203114.2 14.2 12.0 — %
Michael Miller dba Affordable Paint and Auto Body(#,^)4738 Randleman Rd, Greensboro, NC 27406Repair and MaintenanceTerm LoanPrime plus 2.75%2/9/204621.9 21.9 23.6 0.01 %
Little Angels Daycare and Learning Center LLC(#)4551 Summit Blvd, West Palm Beach, FL 33415Social AssistanceTerm LoanPrime plus 2.75%10/3/204686.0 86.0 85.7 0.03 %
Davis Laboratories, Inc.(#,^)611 Lunar Ave., Brea, CA 92821Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/1/203159.0 59.0 54.8 0.02 %
TC3, LLC(#,^)1036 Country St. 2945, Tuttle, OK 73089Administrative and Support ServicesTerm LoanPrime plus 2.75%1/29/20315.0 5.0 4.8 — %
Dexter Lillie dba Kreative Kutz Barber Shop(#,^)865 Cassat Ave, Jacksonville, FL 32205Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/29/204617.7 17.7 20.0 0.01 %
211
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
CULTIVA Solutions, LLC(#,^)8000 Towers Crescent Dr,, Vienna, VA 22182Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/29/20313.8 3.8 3.2 — %
Jazma Deaungilae Wise(#)110 Golden Pine Rd SW, Austell, GA 30168Personal and Laundry ServicesTerm LoanPrime plus 6.5%1/28/20313.8 3.8 3.7 — %
Payne's Environmental Services LLC(#,^)5617 Causeway Blvd., Tampa, FL 33619Administrative and Support ServicesTerm LoanPrime plus 2.75%1/28/2031173.4 173.4 155.5 0.05 %
Chrysalis MSP LLC(#,^)14550 Torrey Chase Blvd, Ste 110, Houston, TX 77014Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/26/203110.8 10.8 9.1 — %
Inland Empire Spine and Disc Laser, Inc.(#,^)802 Magnolia Ave, Ste 103, Corona, CA 92879Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/22/203146.9 46.9 41.4 0.01 %
VIIXVII Sewing Studio, LLC(#)277 E Girard Ave, Philadelphia, PA 19125Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 6.5%1/22/20314.4 4.4 4.3 — %
Skypie Studio & Crafts LLC(#)933 Mary Ave, Opelousas, LA 70570Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/22/20315.7 5.7 5.5 — %
WILD THING ACCOUNTING & TAX LLC(#)805 NE 190th Ave, Portland, OR 97230Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/22/20315.9 5.9 5.7 — %
Andrew's Spotless Cleaning, LLC(#)1604 Marcella Dr, Covington, KY 41011Administrative and Support ServicesTerm LoanPrime plus 6.5%1/22/20315.9 5.9 5.7 — %
Nex Computer LLC and Kosmaz Technologies LLC(#,^)1201 Alta Vista Court, Walnut Creek, CA 94596Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/22/203132.8 32.8 27.7 0.01 %
Greater Vision Healthcare Services, LLC(#,^)788 Montgomery Ave, Ocoee, FL 34761Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/22/2046911.2 911.2 981.2 0.32 %
Wild Wellness LLC(#)151 Lake St., Lancaster, OH 43130Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%1/22/20312.6 2.6 2.5 — %
LONDERPASS, INC.(#)108 N Fiore Pkwy, Vernon Hills, IL 60061Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/21/20315.9 5.9 5.7 — %
Centre for Autism Treatment LLC(#)13090 Sundown Rd, Victorville, CA 92392Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/20/20315.9 5.9 5.7 — %
R & L Timber, Inc(#,^)524 Callen Crabb Rd, Sagle, ID 83860Forestry and LoggingTerm LoanPrime plus 2.75%1/20/2031223.0 223.0 199.1 0.06 %
Valley Towing & Sons, Inc(#,^)16 NY-6N, Mahopac, NY 10541Support Activities for TransportationTerm LoanPrime plus 2.75%1/19/203111.0 11.0 9.3 — %
Diamond Ridge Professionals LLC,(#)8629 Mesquite Circle, Magna, UT 84044Construction of BuildingsTerm LoanPrime plus 6.5%1/19/20315.9 5.9 5.7 — %
Austen Felder Holdings LLC dba Austin R Styling(#)23642 Hwy 25, Franklinton, LA 70438Personal and Laundry ServicesTerm LoanPrime plus 6.5%1/18/203111.9 11.9 11.4 — %
Retro Rangers LLC and Retro 1951, Inc(#,^)750 International Pkwy #105, Richardson, TX 75081Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%1/15/2031185.8 185.8 156.6 0.05 %
Big Brand Management Ltd. Co and Food Civilization LLC(#,^)68700 Dinah Shore Dr, Cathedral, CA 92234Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%1/14/2046242.0 242.0 250.9 0.08 %
Tapia Auto Care, LLC dba Shoreline Quick Lube and Car Wash(#,^)2 Center Rd, Old Saybrook, CT 06475Repair and MaintenanceTerm LoanPrime plus 2.75%1/12/2031121.9 121.9 112.6 0.04 %
SAS Integrated, LLC(#,^)4012 S Rainbow Blvd, Las Vegas, NV 89103Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/12/203121.1 21.1 17.8 0.01 %
212
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Silx LLC(#,^)4120 3rd Ave, Timnath, CO 80525Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/12/20314.2 4.2 3.6 — %
White Pine Logistics, Inc.(#,^)1281 Cobble Pond Way, Vienna, VA 22182Truck TransportationTerm LoanPrime plus 2.75%1/11/2031371.9 371.9 318.2 0.10 %
Westby Grocery LLC(#,^)212 Main St., Westby, MT 59275Food and Beverage Stores Term LoanPrime plus 2.75%1/8/204643.1 43.1 43.4 0.01 %
Athletic Performance Training Center, LLC(#,^)12855 York-Delta Dr, North Royalton, OH 44133Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/8/203114.1 14.1 11.9 — %
TNJ Products, Inc.(#,^)4912 N Lincoln Ave, Ste 101, Chicago, IL 60625Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/31/2030200.2 200.2 168.7 0.05 %
Moran Tax & Accounting LLC(#,^)128 N Franklin St, Brazil, IN 47834Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/31/204517.2 17.2 18.7 0.01 %
Tissue Plus LLC F/K/A Soft Touch Tissue &Paper, LLC(#,^)1491 Hammond St., Bangor, ME 04401Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/31/2045346.4 346.4 391.1 0.13 %
LEILA ZAMIRI, DDS, INC.(#,^)3317 East 10th St., Long Beach, CA 90804Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/31/203069.8 69.8 71.7 0.02 %
Inter-Insurance Agency Services, Ltd. and Universal Casualty Risk Rete(#,^)380 N Broadway, Jericho, NY 11753Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/31/2030643.9 643.9 542.8 0.18 %
The Spot Bar & Restaurant LLC(#,^)10540 State Route 195, Killeen, TX 76542Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/204586.1 86.1 90.5 0.03 %
Hawthorne Food Company dba Eastern Standard Provis(#,^)117 Beaver St., Waltham, MA 02452Food ManufacturingTerm LoanPrime plus 2.75%12/31/2030814.7 814.7 687.9 0.22 %
Seven C's Manufacturing, Inc(#,^)3895 Corsair St., Reno, NV 89502Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/31/2030512.1 512.1 475.7 0.15 %
M2 Lumber LLC(#,^)110 Brick House Rd, Laurens, SC 29360Wood Product ManufacturingTerm LoanPrime plus 2.75%12/31/203010.5 10.5 9.7 — %
Leila Zamiri, DDS, Inc(#,^)3317 E 10th St., Long Beach, CA 90804Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/31/2045153.7 153.7 173.5 0.06 %
Performance Online, Inc(#,^)1550 Melissa Ct, Corona, CA 92879Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/30/2030244.7 244.7 207.0 0.07 %
SDI Black 011, LLC(#,^)1091 YONKERS AVE, YONKERS, NY 10704Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/30/2030931.1 931.1 799.9 0.26 %
Shlama Two LLC dba Village Park Daycare(#,^)7440 Broadway, Merrillville, IN 46410Social AssistanceTerm LoanPrime plus 2.75%12/30/2045245.9 245.9 266.0 0.09 %
NDRS Construction Inc.dba Disaster(#,^)18730 Cortez Blvd, Brooksville, FL 34601Construction of BuildingsTerm LoanPrime plus 2.75%12/30/203081.5 81.5 69.0 0.02 %
Real Estate Personnel, Inc., Tara Matta and Sara Pierce(#,^)1758 Emerson St., Denver, CO 80218Administrative and Support ServicesTerm LoanPrime plus 2.75%12/30/2030931.1 931.1 785.0 0.25 %
Center of New England Primary Care Inc, North Providence Urgent Care I(#,^)775 Centre of New England Blvd, Coventry, RI 02816Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2045447.2 447.2 504.9 0.16 %
Perfect Game Incorporated(#,^)850 Twixt Town Rd NE, Cedar Rapids, IA 52402Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/30/20301,163.9 1,163.9 1,088.3 0.35 %
Vacation Link of Florida, Inc., Island Vacation and Cruises, Inc, Pref(#,^)501 N Wymore Rd, Winter Park, FL 32789Administrative and Support ServicesTerm LoanPrime plus 2.75%12/30/2030372.4 372.4 390.1 0.13 %
213
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
George Family Cremation and Burial LLC(#,^)1260 W Mission Ave, Escondido, CA 92029Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/30/203196.7 96.7 86.9 0.03 %
Lightstat Inc.(#,^)22 W West Hill Rd, Barkhamsted, CT 06063Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/30/2030349.2 349.2 348.6 0.11 %
Eppy's Tool & Equipment Warehouse, Inc(#,^)809 East 42nd St., Brooklyn, NY 11210Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/30/2030243.0 243.0 204.9 0.07 %
Trident E&P, LLC(#,^)320 Circle of Progress Dr, Pottstown, PA 19464Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/30/20301,151.8 1,151.8 1,047.8 0.34 %
Bourque Sales and Service Inc.(#,^)9160 Linwood Ave, Shevport, LA 71106Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/30/2045140.7 140.7 158.8 0.05 %
Educare Early Intervention, Corporation(#,^)4557 S Calumet Ave, Chicago, IL 60653Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/203041.2 41.2 34.7 0.01 %
Bourque Sales and Service Inc(#,^)9160 Linwood Ave, Shreveport, LA 71106Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/30/2045143.4 143.4 161.9 0.05 %
Petroleum Equipment & Services, Inc.(#,^)5631 Silverado Way, Anchorage, AK 99518Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/30/2030392.2 392.2 336.6 0.11 %
Center of New England Primary Care Inc(#,^)775 Center of New New England Blvd, Coventry, RI 02816Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2045414.9 414.9 468.4 0.15 %
United Security Specialists, Inc.(#,^)275 Saratoga Ave. Ste 200, Santa Clara, CA 95050Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/30/2030108.5 108.5 91.5 0.03 %
Khangri Sourcing Inc.(#,^)6021 129th. Ave SE, Bellevue, WA 98006Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/29/2030173.3 173.3 145.9 0.05 %
Bojax Auto Collision Inc(#,^)4706 Fenlee Ave., Royal Oak, MI 48073Repair and MaintenanceTerm LoanPrime plus 2.75%12/29/2045338.1 338.1 346.8 0.11 %
Litchy Electric L.L.C.(#,^)4035 E Post Rd, Las Vegas, NV 89120Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/203093.1 93.1 80.1 0.03 %
E R Kilpatrick, LLC dba Jefferson Street True Value(#,^)212 Greenwood St., La Grande, OR 97850Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/28/2030133.8 133.8 117.6 0.04 %
Sondra Gayle Insurance Agency Inc.(#,^)2107 Veterans Memorial Blvd, Metaire, LA 70002Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/24/20307.0 7.0 7.0 — %
Terry A. Humphreys dba Tiki Torch Liquors(#)101 Dallas St., Talihima, OK 74571Food and Beverage Stores Term LoanPrime plus 6.5%12/23/203011.8 11.8 11.3 — %
NetLevel5 LLC dba Moutain Air Duct(#,^)4724 Poleplant Dr, Colorado Springs, CO 80918Administrative and Support ServicesTerm LoanPrime plus 2.75%12/23/203015.1 15.1 13.1 — %
Spectrum Dynamics, Inc dba Clean Water Works(#)27727 Dalton Bluff Court, Katy, TX 77494Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/23/203011.8 11.8 11.3 — %
Southeastern Esthetics Institute, LLC and Pura Medical Spa, Corp, LLC(#,^)1644 Main St. Ste 1, Columbia, SC 29201Educational ServicesTerm LoanPrime plus 2.75%12/23/2030541.7 541.7 481.9 0.16 %
UBIF 86 CO dba UBREAKIFIX(#,^)1539 Town Center Dr, Lakeland, FL 33803Repair and MaintenanceTerm LoanPrime plus 2.75%12/23/203053.3 53.3 44.8 0.01 %
Chris' Angels Cleaning Service LLC(#)2090 Dunwoody Club Dr, Sandy Springs, GA 30350Administrative and Support ServicesTerm LoanPrime plus 6.5%12/23/203011.8 11.8 11.3 — %
KCL Business Service Inc.(#)1042 San Fernando Rd., San Fernando, CA 91340Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/23/203011.8 11.8 11.3 — %
214
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
SLCP Transport, LLC(#,^)111 Brentwood Dr, College Station, TX 77840Repair and MaintenanceTerm LoanPrime plus 2.75%12/23/203056.9 56.9 49.7 0.02 %
Title2Land,LLC(#,^)11851 Wentling Ave, Baton Rouge, LA 70816Real EstateTerm LoanPrime plus 2.75%12/23/2045110.7 110.7 124.9 0.04 %
Summerfield Farm, Inc(#,^)24 Baker Rd, Pittstown, NJ 08867Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%12/23/204557.8 57.8 65.2 0.02 %
US Dedicated LLC(#,^)13410 SE 26th Cir, Vancouver, WA 98683Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/22/2030203.7 203.7 171.3 0.06 %
ASIL Ventures, LLC(#)4354 N Bell Ave, Apt G2,, Chicago, IL 60618Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/22/20304.0 4.0 3.8 — %
N.W.F.F., Inc. and Environmental Contracting Solutions, Inc.(#,^)687 E Central Ave, Sutherlin, OR 97479Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2030721.6 721.6 638.9 0.21 %
Lynch Mining LLC(#,^)7262 West Hunt Hwy, Queen Creek, AZ 85142Mining (except Oil and Gas)Term LoanPrime plus 2.75%12/21/2045358.5 358.5 380.7 0.12 %
Price Educational Services, LLC dba Mathnasium of South OKC(#,^)10740 S May Ave, Oklahoma City, OK 73170Educational ServicesTerm LoanPrime plus 2.75%12/21/20307.8 7.8 6.9 — %
N.W.F.F., Inc.(#,^)687 E. Central Ave, Sutherlin, OR 97479Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/204543.0 43.0 47.6 0.02 %
AccountPics, LLC(#,^)903 S WW White Rd, San Antonio, TX 78220Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/204578.7 78.7 87.1 0.03 %
RJL Texas International Corporation(#,^)17401 Triton,, Schertz, TX 78154Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/18/2030253.1 253.1 229.0 0.07 %
Neeld Rentals Inc dba Mills True Value Hardware(#,^)205 Clinton Blvd, Clinton, MS 39056Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/18/203011.2 11.2 9.4 — %
Horne Chiropractic Center, P.A(#,^)3820 Mountain Rd, Stes B & C, Pasadena, MD 21122Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/18/203093.1 93.1 78.3 0.03 %
Edgar E. Herrera Garcia, Rocio L. D. Herrera dba Integral Delivery Ser(#,^)3100 Delaware Ave, Des Moines, IA 50313Truck TransportationTerm LoanPrime plus 2.75%12/18/2045221.3 221.3 240.0 0.08 %
REST Enterprises Inc dba Upstyled Properties(#,^)1440 W Taylor St Unit 595, Chicago, IL 60607Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/203014.0 14.0 14.6 — %
Allied Molded Products, LLC, Clancy 15 LLC, and Crusader 5088, LLC(#,^)1145 13th Ave East, Palmetto, FL 34221Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/18/2030199.2 199.2 167.6 0.05 %
Tahzoo LLC(#,^)1015 7th St. NW, Washington, DC 20001Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/2030722.5 722.5 609.3 0.20 %
Splashlight Photographic & Digital Studios LLC ,Splashlight Technologi(#,^)75 Varick St, 3rd Floor, New York, NY 10013Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/20301,163.9 1,163.9 979.0 0.32 %
Last Touch LLC(#,^)927 E 10th St, Fairmont, MN 56031Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/18/204550.9 50.9 57.5 0.02 %
People United of Louisiana LLC(#,^)1401 Hudson Lane, Monroe, LA 71201Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/18/2030139.7 139.7 124.0 0.04 %
215
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Yinlink International Inc(#,^)2 Corporate Dr, Suiite A, East Windsor, NJ 08512Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/18/203066.4 66.4 64.2 0.02 %
Pumpkin Patch Child Care and Early Education Center, LLC(#,^)310 Grove Beach Rd N, Westbrook, CT 06498Social AssistanceTerm LoanPrime plus 2.75%12/18/2045113.1 113.1 122.3 0.04 %
Giant Development Inc and Crabtree Development Corp(#,^)509 Pylon Dr, Ste 110, Raleigh, NC 27606Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/18/20301,163.9 1,163.9 1,027.8 0.33 %
Katie Cox & Co. LLC(#,^)6605 Longshore ST, Ste 240, Dublin, OH 43017Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/20307.0 7.0 5.9 — %
Code 3 Apps LLC.(#,^)843 Tempted Ways Dr, Longmont, CO 80504Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/18/20307.0 7.0 5.9 — %
Carolina Roofing Siding Painting LLC(#,^)204 Depot St., Camponbello, SC 29322Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/17/204514.8 14.8 15.7 0.01 %
Anthony Connelly Holdings LLC(#,^)7260 Dean Martin Dr, Ste 800, Las Vegas, NV 89118Nonstore Retailers Term LoanPrime plus 2.75%12/17/2030232.8 232.8 195.8 0.06 %
Savannah Area Language & Culture Exchange, LLC(#)6 Dovetail Crossing, Savannah, GA 31419Educational ServicesTerm LoanPrime plus 6.5%12/16/203011.8 11.8 11.3 — %
David M. Benson LLC(#)1422 Euclid Ave, Cleveland, OH 44115Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/16/203011.8 11.8 11.3 — %
Highstar Travel Group, LLC(#,^)2869 Wilshire Dr, Ste 204, Orlando, FL 32835Administrative and Support ServicesTerm LoanPrime plus 2.75%12/16/203020.9 20.9 17.6 0.01 %
Vege Investments, LLC dba Sunoco Homestead(#)26400 SW 177th Ave, Homestead, FL 33031Gasoline Stations Term LoanPrime plus 6.5%12/16/203011.8 11.8 11.3 — %
McFarlin, LLP(#,^)4 Park Plz Ste 1025, Irvine, CA 92614Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/16/2030162.9 162.9 137.1 0.04 %
Signature Graphic LLC(#,^)14425 N 79th St, Ste B, Scottsdale, AZ 85260Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/16/203079.1 79.1 66.6 0.02 %
Last Minute Effects Inc.(#,^)1016 Hamline Place, Burbank, CA 91504Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%12/15/203014.0 14.0 12.2 — %
Vector Utilities LLC(#,^)8501 San Gabriel Dr, Laredo, TX 78045Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/14/2030349.2 349.2 336.4 0.11 %
Corple Enterprisees Inc(#,^)17887 US Hwy 380 West, Ponder, TX 76259Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/14/203058.2 58.2 49.0 0.02 %
Efficient, Fast & Good Cleaning Services Inc(#,^)2444 NW 177th Terrace, Miami Gardens, FL 33056Administrative and Support ServicesTerm LoanPrime plus 2.75%12/14/20307.0 7.0 6.2 — %
Accommodating Financial & Tax Services, LLC(#,^)1642 Ralston Circle, Toledo, OH 43623Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/204541.6 41.6 46.3 0.01 %
Aeromax Industries Inc(#,^)1310 Ranchers Legacy Trail, Fort Worth, TX 76126Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/14/2030162.9 162.9 137.1 0.04 %
Droplette Marketing Co(#,^)6481 Orangethorpe Ave, Buena Park, CA 90620Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/20306.3 6.3 5.7 — %
Donald W. Harris dba Bowman Creek Mini Storage(#)1625 US-59 N, Linden, TX 75563Warehousing and StorageTerm LoanPrime plus 6.5%12/11/203011.8 11.8 11.3 — %
Shattered Prism LLC(#,^)3333 Broadway, New York, NY 10031Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%12/11/20307.0 7.0 7.3 — %
TJ Pant LLC and Tailored Cartage LLC(#,^)25993 US 12, Sturgis, MI 49091Truck TransportationTerm LoanPrime plus 2.75%12/11/203080.3 80.3 79.0 0.03 %
216
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Jamali LLC dba Saahten(#)2741 Raceway Fairfield West, Pensacola, FL 32503Food Services and Drinking PlacesTerm LoanPrime plus 6.5%12/11/203011.8 11.8 11.3 — %
Premium Marketing Co. Inc. dba Vera Moore Cosmetics(#,^)4 Shadow Lane, Woodbury, NY 11797Health and Personal Care Stores Term LoanPrime plus 2.75%12/11/203020.9 20.9 18.1 0.01 %
LTD Broadband, LLC(#,^)69 Teahouse St, Las Vegas, NV 89138TelecommunicationsTerm LoanPrime plus 2.75%12/10/20301,126.2 1,126.2 1,033.1 0.33 %
M-Den, Inc(#,^)315 Main St., Ann Arbor, MI 48104Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%12/10/20301,071.2 1,071.2 1,038.5 0.34 %
Just In Time Refrigeration LLC(#,^)6400 EDNA TAYLOR PKWY, MONONA, WI 53716Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/10/2045229.2 229.2 238.4 0.08 %
Inner Beauty Salon and Suite LLC(#,^)825 Beecher St SW, Atlanta, GA 30310Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/10/204563.9 63.9 72.2 0.02 %
HWH Unlimited, Inc.(#,^)43386 Business Park Dr, Temecula, CA 92590Real EstateTerm LoanPrime plus 2.75%12/9/203069.8 69.8 73.0 0.02 %
LBR Partners LLC dba Techy(#,^)16430 Good Hearth Blouvard, Clermont, FL 34711Repair and MaintenanceTerm LoanPrime plus 2.75%12/9/203041.9 41.9 35.3 0.01 %
Zebra House Coffee, LLC(#,^)1001 S El Camino Real, San Clemente, CA 92672Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/9/203041.9 41.9 35.2 0.01 %
Tortuga Backpacks LLC(#,^)340 South Lemon Ave, Walnut, CA 91789Nonstore Retailers Term LoanPrime plus 2.75%12/8/203046.6 46.6 39.2 0.01 %
CashLine Solutions, LLC(#,^)467741 E 1050 Rd, Sallisaw, OK 74955Administrative and Support ServicesTerm LoanPrime plus 2.75%12/7/203011.2 11.2 9.4 — %
Northeast Coverages Inc. and Southeast Coverages Inc.(#,^)910 Franklin Ave, Ste 210, Garden City, NY 11530Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/7/2030158.3 158.3 165.5 0.05 %
Travel with Love, LLC dba Style & The Storyteller(#)8465 W Sahara Ave, Ste 111, Las Vegas, NV 89117Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/4/20304.7 4.7 4.5 — %
Indecon Builders Inc(#,^)1382 Valencia Ave, Tustin, CA 92780Construction of BuildingsTerm LoanPrime plus 2.75%12/4/203046.6 46.6 39.2 0.01 %
Perez Law Office, PLLC(#,^)80 N McClintock Dr, Chandler,, AZ 85226Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/4/204566.4 66.4 75.0 0.02 %
Combs Creative LLC(#)157 Antler Ridge Circle,, Nashville, TN 37214Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/4/20305.2 5.2 5.0 — %
Paradise RV Sales and Rentals LLC(#,^)7960 Dorchester Rd, North Charleston, SC 29418Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/4/20306.4 6.4 5.4 — %
Pacific Contours Corp(#,^)5340 E Hunter Ave, Anaheim, CA 92807Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/4/2030665.1 665.1 695.4 0.22 %
SME Business Services LLC(#,^)930 Chesaco Ave, Rosedale, MD 21237Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/203020.9 20.9 17.6 0.01 %
Moxie Marketing, LLC(#,^)51 Lee Dr, Palm Coast, FL 32137Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/2030116.9 116.9 98.3 0.03 %
Staffhink Limited dba Barn Owl Drone Services(#,^)4283 Deerfield Hills Rd, Colorado Springs, CO 80916Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%12/3/20304.9 4.9 4.6 — %
Tina D. Coker DBA Diane's Accounting Service(#)119 E Haywood St, England, AR 72046Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/3/203011.8 11.8 11.3 — %
217
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
American Retail Properties, Inc.(#,^)125 Main St. 2nd Floor, Reading, MA 01867Real EstateTerm LoanPrime plus 2.75%11/30/203020.8 20.8 17.6 0.01 %
Jonathan J Klaczik LLC dba Veterans Fence Company(#,^)7417 Dover Lane, Parma, OH 44130Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/27/203020.8 20.8 18.7 0.01 %
Segreti Law Office, A Professional Corporation(#,^)350 10th Ave,Ste 1000, San Diego, CA 92101Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/27/203017.3 17.3 14.7 — %
Hartley S Johnson & Son, Inc. dba Mark T. Wendell Tea(#,^)14a Craig Rd, Acton, MA 01720Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/27/203037.0 37.0 31.4 0.01 %
LIAISON STAINLESS INC(#,^)630 James Lee Dr NW, Suwanee, GA 30024Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/25/203069.3 69.3 58.3 0.02 %
The Alder SmokeHouse LLC(#,^)1055 Virginia Ave, North Bend, OR 97459Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/203010.4 10.4 10.9 — %
Flex Beauty Labs, LLC(#)7512 Dr. Phillip Blvd, Orlando, FL 32819Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 6.5%11/24/203011.7 11.7 11.2 — %
Next Level Detailing, LLC(#,^)3235 Odeon Way, Ste 201-203, Acworth, GA 30102Repair and MaintenanceTerm LoanPrime plus 2.75%11/24/20306.9 6.9 5.8 — %
Dearly LOved Counseling, L.L.C(#)14052 N Dale Mabry Hwy, Ste 215, Tampa, FL 33618Social AssistanceTerm LoanPrime plus 6.5%11/24/203011.7 11.7 11.2 — %
Ellis Apex LLC dba Inage360 Marietta(#,^)2060 Franklin Way SE, Ste 150, Marietta, GA 30067Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/24/203085.7 85.7 72.6 0.02 %
Thompson Enterprises of Florida LLC dba TCBY FROZEN YOGURT(#,^)14543 SW 5th St., Pembroke Pines, FL 33027Food and Beverage Stores Term LoanPrime plus 2.75%11/20/203013.6 13.6 11.4 — %
Green Farm Inc dba Farmers Outlet(#)1018 W SR 424 Ste 100, Longwood, FL 32750Food and Beverage Stores Term LoanPrime plus 6.5%11/19/203011.7 11.7 11.2 — %
Prosperity Tool, Inc(#,^)2006 National Guard Dr, Plant City, FL 33563Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/19/2045294.6 294.6 332.6 0.11 %
The Number Masters(#,^)3325 Highland St., Grove City, OH 43123Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/18/203016.1 16.1 13.5 — %
Italian Heritage Tile and Stone Inc(#,^)4725 Morgan Territory Rd, Clayton, CA 94517Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/18/203072.8 72.8 61.3 0.02 %
T.S.I.-VA, LLC and Alpha Business Services Inc.(#,^)2525 Pointe Center Court, Ste 200, Dumfries, VA 22026Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/17/2030101.2 101.2 85.2 0.03 %
Master Printing and Signs Corp & Artishirt Co.(#,^)386 Squire Rd, Revere, MA 02151Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/10/2045197.3 197.3 216.9 0.07 %
Modutech Marine Inc(#,^)2218 Marine View Dr, Tacoma, WA 98422Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%11/9/2030369.9 369.9 386.7 0.13 %
GoodGuyS Enterprises Inc dba Goodguys;Good Guy Enterprises;Good Guys(#,^)1071 Serpentine Lane, Pleasanton, CA 94566Administrative and Support ServicesTerm LoanPrime plus 2.75%11/4/2030192.2 192.2 200.9 0.06 %
Protek Pest Control Inc, Protek Nurseries LLC & Protek Irrigation LLC(#,^)8712 60th Terrace South, Lake Worth, FL 33467Administrative and Support ServicesTerm LoanPrime plus 2.75%11/4/203048.6 48.6 42.7 0.01 %
Supersonic Cleaning Services Inc(#,^)36 Seitz Terrace, Arlington, NY 12603Administrative and Support ServicesTerm LoanPrime plus 2.75%10/29/203035.6 35.6 30.5 0.01 %
218
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Marcus Horn dba Versatile Styles and Cuts(#,^)2018 24th Ave, Meridian, MS 39301Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/15/204510.3 10.3 11.1 — %
Shades of U, Inc. dba Diva by Cindy(#,^)15212 Hanover Pike, Upperco, MD 21155Health and Personal Care Stores Term LoanPrime plus 2.75%10/9/204588.3 88.3 95.7 0.03 %
VIP Lawn Care Services LLC dba VIP Services(#,^)3875 Fay Blvd, Cocoa, FL 32927Administrative and Support ServicesTerm LoanPrime plus 2.75%10/8/203017.5 17.5 14.9 — %
KTF Consulting Corp(#,^)2471 N Geneva Terrace, Chicago, IL 60614Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/6/203068.9 68.9 72.0 0.02 %
The Hall at the Yard LLC dba The Hall on the Yard(#)1412 Alden Rd, Orlando, FL 32803Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/2/2031671.1 671.1 572.6 0.19 %
South Park Hardware, LLC(#,^)16074 South Park Ave, South Holland, IL 60473Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/25/204573.4 73.4 82.9 0.03 %
Hazleton Oil & Environmental, Inc(#,^)300 Tamaqua St., Hazleton, PA 18201Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/25/20451,063.8 1,063.8 1,195.8 0.39 %
Babys on Broadway LLC(#,^)47 East Broadway, Little Falls, MN 56345Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%9/25/203068.4 68.4 59.0 0.02 %
7PSolutions, LLC(#,^)136 North Van Buren St., Nashville, IN 47448Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/25/203045.6 45.6 38.6 0.01 %
Blakeslee Arpaia Chapman, Inc and Chapman Construction Services, LLC(#,^)200 North Branford Rd, Branford, CT 06405Construction of BuildingsTerm LoanPrime plus 2.75%9/24/2030341.9 341.9 333.8 0.11 %
BulkMore LLC(#,^)12741 Ocean Gateway, Ocean City, MD 21842Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/18/2030137.8 137.8 120.5 0.04 %
Mister Dexters LTD dba Shuga's(#,^)702 S. Cascade Ave, Colorado Springs, CO 80903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/28/204556.2 56.2 60.5 0.02 %
Mister Dexters LTD dba Shuga's(#,^)702 S Cascade Ave, Colorado Springs, CO 80903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/28/2030166.3 166.3 139.6 0.05 %
Heriz Gallery Inc dba Pineville Rug Gallery(#,^)312 Main St., Pineville, NC 28134Textile Product MillsTerm LoanPrime plus 2.75%4/6/204595.7 95.7 108.1 0.03 %
Alliance Heating & Air Conditioning, Inc.(#,^)10 Brookfield Ave, Bridgeport, CT 06610Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/6/2030658.5 658.5 605.5 0.20 %
Terry & Tammy Jacobsen, Inc.dba Appliance Recycling Outlet(#,^)10105 Airport Way, Snohomish, WA 98296Electronics and Appliance Stores Term LoanPrime plus 2.75%4/3/2045815.0 815.0 899.9 0.29 %
Terry and Tammy Jacobsen, Inc dba Appliance Recycling(#,^)10105 Airport Way, Snohomish, WA 98296Electronics and Appliance Stores Term LoanPrime plus 2.75%4/3/2030295.5 295.5 270.7 0.09 %
Profit Stewards, LLC(#,^)458 Schuylkill Rd, Phoenixville, PA 19460Repair and MaintenanceTerm LoanPrime plus 2.75%4/2/203038.0 38.0 35.5 0.01 %
Caplan Home Care, LLC(#,^)6029 Berkshire Lane, Dallas, TX 75225Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/1/2045856.3 856.3 954.0 0.31 %
Montana Custom Log Homes, Inc.(#,^)2036 US Hwy 93 North, Victor, MT 59875Wood Product ManufacturingTerm LoanPrime plus 2.75%3/31/2045354.8 354.8 400.5 0.13 %
Blackwater Diving LLC(#,^)112 Forrest Rd, Morgan City, LA 70380Support Activities for MiningTerm LoanPrime plus 2.75%3/30/2030326.6 326.6 311.2 0.10 %
Suburban Transmission of Northern Illinois, Inc.(#,^)1714 E Oakton St, Des Plaines, IL 60018Repair and MaintenanceTerm LoanPrime plus 2.75%3/27/2045145.3 145.3 164.0 0.05 %
219
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Tomco Inc. dba Rental City dba Tomco Equiptment Sales(#,^)6470 State St., Saginaw, MI 48603Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/27/203019.6 19.6 17.9 0.01 %
Dunaway and Hart, Inc(#,^)575 Harkrider St., Conway, AR 72032Real EstateTerm LoanPrime plus 2.75%3/26/203043.6 43.6 39.8 0.01 %
Patoruzu Inc dba Sharkey's Cuts for Kids(#,^)18121 Tuckerton Rd, Ste 130, Cypress, TX 77433Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/20/203011.8 11.8 10.8 — %
Kris-Leigh Catered Living at Severna Park,LLC(#,^)831 Richie Hwy, Severna Park, MD 21146Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%3/20/2030464.6 464.6 490.0 0.16 %
Firefly Developement LLC dba Firefly Earthworks(#,^)4810 Vicksburg St., Dallas, TX 75207Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/19/2045291.0 291.0 318.1 0.10 %
Coffeestamp LLC(#,^)2511 S Jefferson Ave, St. Louis, MO 63104Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/17/20303.9 3.9 3.8 — %
Mid Ohio Hospitality, LLC dba Bucks Bar and Grill(#,^)192 E Main St, Mansfield, OH 44904Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/17/2045222.3 222.3 250.9 0.08 %
Forest Scientific Corporation(#,^)668 Elm St., Tionesta, PA 16353Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/17/203065.3 65.3 68.9 0.02 %
Kanga Lean, Inc. dba F45 Training Trinity(#,^)8900 Strengh Ave, New Port Richie, FL 34655Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/16/203050.1 50.1 47.5 0.02 %
Integrated Equipment Inc; Intergrated Elastomers Inc(#,^)5701 Brittmoore Rd, Houston, TX 77041Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/13/20451,235.0 1,235.0 1,394.4 0.45 %
Mark Allen Taylor dba Taylor Auction(#,^)20 & 68 Westfield Rd, Nicholls, GA 31554Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/13/2030121.1 121.1 115.6 0.04 %
Stretch of NW Georgia, LLC dba Stretch Zone(#,^)1430 Towne Lake Pkwy, Ste 26100, Woodstock, GA 30189Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/13/203012.8 12.8 11.7 — %
Rapid Trucking and(#,^)4225 W Capitol Ave, West Sacramento, CA 95691Truck TransportationTerm LoanPrime plus 2.75%3/13/2045738.6 738.6 833.9 0.27 %
Native Fields Landscaping LLC and My Two Girls LLC(#,^)73 Taylor Rd, Wharton, NJ 07885Administrative and Support ServicesTerm LoanPrime plus 2.75%12/13/2045512.9 512.9 568.2 0.18 %
Signet Media dba Signet Media inc.(#,^)630 S 1st St, San Jose, CA 95113Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/13/2030313.2 313.2 330.4 0.11 %
Astoria-Pacific Inc(#,^)15130 SE 82nd Dr, Clackamas, OR 97015Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%3/13/2030108.9 108.9 114.8 0.04 %
GQ Investments LLC(#,^)5772 Miami Lakes Dr, Miami Lakes, FL 33014Electrical Equipment, Appliance, and Component ManufacturingTerm LoanPrime plus 2.75%3/12/2030130.7 130.7 119.5 0.04 %
C3 Capital, Inc(#,^)10010 North Hampton Cove Lane, Indianapolis, IN 46236Nonstore Retailers Term LoanPrime plus 2.75%3/11/2030493.3 493.3 508.0 0.16 %
Quarles Service Systems, Inc.(#,^)1740 September Ave, Memphis, TN 38116Administrative and Support ServicesTerm LoanPrime plus 2.75%3/10/204593.1 93.1 104.1 0.03 %
Blue Dot Trading Inc(#,^)3100 NW 72nd Ave, Miami, FL 33122Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/10/203049.0 49.0 44.8 0.01 %
The Ugly Mug's Coffee and Tea Inc.(#,^)1390 Broadway Ste C, Placerville, CA 95667Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/9/203031.9 31.9 29.2 0.01 %
Peter & Suzanne Scott, Inc., Phillip Showen & Bryan Phelan(#,^)2342 NY- 37, Port Covington, NY 12937Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/6/2030122.0 122.0 124.9 0.04 %
220
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
KR Enterprises, Inc. dba Carriage Inn(#,^)1065 Tower Hill Rd, North Kingstown, RI 02852AccommodationTerm LoanPrime plus 2.75%3/6/2045310.0 310.0 344.1 0.11 %
Outcome Driven Innovation dba Spracht; Celltek, ODI, ODI Security(#,^)974 Commercial St, Palo Alto, CA 94303Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/6/2030337.5 337.5 308.5 0.10 %
Advans IT Services, Inc.(#,^)65 Boston Post Rd W Ste 390, Marlborough, MA 01752Other Information ServicesTerm LoanPrime plus 2.75%3/6/2030108.9 108.9 99.5 0.03 %
Big Brand Management LTD. CO. dba Ivox Media(#,^)512 E 11th St, Houston, TX 77008Real EstateTerm LoanPrime plus 2.75%3/6/203057.8 57.8 57.6 0.02 %
Minifox Inc. dba Pho Hoa and Jazen Tea(#,^)10624 South Eastern Ave Stes R & S, Hendersen, NV 89502Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/5/203065.3 65.3 60.4 0.02 %
Jones Roger Sherman Inn, Inc. dba Jones Roger Sherman Inn(#)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/4/203020.2 20.2 21.4 0.01 %
Chet Lemon Enterprises, Inc. dba All American Sports(#,^)1544 Lane Park Cut off, Tavares, FL 32778Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/3/2031257.9 257.9 274.1 0.09 %
14th State Learning, LLC dba Sylvan Learning, LLC(#,^)1 Market Pl #10, Essex Junction, VA 05452Educational ServicesTerm LoanPrime plus 2.75%3/2/203044.9 44.9 41.3 0.01 %
Toju Bay Inc. dba Fiesta Americana Restaurand and Club(#,^)1622-1624 N. Mannheim Rd, Stone Park, IL 60165Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2045441.0 441.0 497.9 0.16 %
LCSM Logistics Inc(#,^)15735 Spectrum Dr, Addison, TX 75001Couriers and MessengersTerm LoanPrime plus 2.75%2/28/203073.2 73.2 67.0 0.02 %
Breakers Electric, LLC dba Merrill Sports(#,^)13600 Mustang Dr, Mead, CO 80542Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/27/20309.1 9.1 8.3 — %
Crux Solutions LLC dba Waddell's Riverside Funeral Directors(#,^)6938 Westover St., Houston, TX 77087Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/27/204578.3 78.3 88.3 0.03 %
GRSC, Inc.(#,^)1643 NW Dove Ct, Stuart, FL 34994Construction of BuildingsTerm LoanPrime plus 2.75%2/27/203017.9 17.9 17.3 0.01 %
Feras Alshadaida dba Allura Dairy(#,^)8809 N Grove Ave, Rancho Cucamonga, CA 91730Food and Beverage Stores Term LoanPrime plus 2.75%2/26/203052.2 52.2 49.1 0.02 %
M & L ENTERPRIZES, LLC(#,^)2401 Wrightsville Ave, Wilmington, NC 28403Food and Beverage Stores Term LoanPrime plus 2.75%2/26/203043.1 43.1 45.5 0.01 %
Abe Chahrour Investment, LLC(#,^)4001 S Wayne Rd, Wayne, MI 48154Administrative and Support ServicesTerm LoanPrime plus 2.75%2/25/204521.5 21.5 24.2 0.01 %
Bora Enterprises, LLC(#,^)44255-B Fremont Blvd,, Fremont, CA 94538Truck TransportationTerm LoanPrime plus 2.75%2/21/203011.0 11.0 10.1 — %
Skimino Enterprises LLC(#,^)197 Ewell Rd, Williamsburg, VA 23188Support Activities for TransportationTerm LoanPrime plus 2.75%2/21/203064.7 64.7 59.2 0.02 %
Bell Oak LLC dba Bell Oak Academy & Paradise Strategics LLC(#,^)7215 Waelti Dr, Melbourne, FL 32940Social AssistanceTerm LoanPrime plus 2.75%2/21/2045374.1 374.1 406.7 0.13 %
Sherwood Sporthorses Inc.(#,^)20502 Forestview, Magnolia, TX 77355Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/21/2046393.6 393.6 439.0 0.14 %
Alex Roit Chiropractic, P. C(#,^)55 Northern Blvd, Ste 103, Great Neck, NY 11021Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/19/203017.2 17.2 15.7 0.01 %
221
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Little Feet Academy of Jacksonville, LLC(#,^)10265 Normandy Blvd, Jacksonville, FL 32221Social AssistanceTerm LoanPrime plus 2.75%2/17/204545.7 45.7 50.3 0.02 %
Romo Medical Equiptment LLC(#,^)3453 North Panam Expressway, San Antonio, TX 78219Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%2/14/2030431.2 431.2 394.2 0.13 %
All Modes Transportation & Logistics LLC(#)4313 Collingtree Dr, Rockledge, FL 32955Support Activities for TransportationTerm LoanPrime plus 6.5%2/14/203011.0 11.0 11.4 — %
Shaw, Ltd dba Fitness 1440 North Coventry(#,^)54-58 Glocker Way, Pottstown, PA 19465Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/13/203052.4 52.4 49.8 0.02 %
Red Rock Government Serviice, LLC(#,^)45240 Business Court, Sterling, VA 20166Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/13/203022.5 22.5 23.7 0.01 %
Damiano Global Corp.(#,^)333 Birch Hills Dr, Rochester, NY 14622Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/10/203043.1 43.1 39.4 0.01 %
Fortson Janitorial Inc(#,^)462-482 Chattahoochee St., Cornelia, GA 30531Nonstore Retailers Term LoanPrime plus 2.75%2/5/2045103.9 103.9 117.3 0.04 %
2'N1 Home and lawn LLC dba N1 Home an Lawn LLC(#)1300 Ridenour Blvd, Kennesaw, GA 30152Administrative and Support ServicesTerm LoanPrime plus 6.5%2/3/203011.1 11.1 11.5 — %
A1 Radon Services, LLC(#,^)9980 Dell Rd, Eden Prairie, MN 55347Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%1/31/203076.8 76.8 70.2 0.02 %
Daftarnow Inc dba Venture X Parsippany(#,^)8 Campus Dr. Ste 105, Parsippany, NJ 07054Real EstateTerm LoanPrime plus 2.75%7/30/2030166.0 166.0 152.4 0.05 %
Spinnaker PSL Inc., Spinnaker Subs- N-Shine& Spinnaker Vero Inc(#,^)6967 Hancock Dr, Port St Lucie, FL 34952Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%1/30/2045305.9 305.9 334.9 0.11 %
Adorable Home Heath Care LLC(#,^)6110 W Capitol Dr, Milwaukee, WI 53216Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/30/203036.0 36.0 32.9 0.01 %
3 Fat Labs Inc. and Energy Conservation Solution Inc.(#,^)2001 S County Rd 400 W, Greencastle, IN 46135Rental and Leasing ServicesTerm LoanPrime plus 2.75%1/30/2045269.6 269.6 298.9 0.10 %
Codame Enterprises LLC dba Firehouse Subs(#,^)1547 Main St., Dunedin, FL 34698Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/29/203090.5 90.5 82.8 0.03 %
Havana Knights LLC(#,^)65 Lindsey Lane, Havana, FL 32333Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/27/203033.8 33.8 32.7 0.01 %
Amina Financial Solutions LLC dba Expat Tax Solutions(#,^)1433 Chestnut St., Macon, GA 31201Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/24/203018.0 18.0 16.4 0.01 %
Affinity Integrated Solutions Inc.(#,^)115 Pomona Dr, Greensboro, NC 27402Administrative and Support ServicesTerm LoanPrime plus 2.75%1/23/2045289.5 289.5 320.7 0.10 %
Affinity Integrated Solutions Inc(#,^)115 Pomona Dr, Greensboro, NC 27407Administrative and Support ServicesTerm LoanPrime plus 2.75%1/23/2030192.6 192.6 176.1 0.06 %
Align Sports Management, LLC(#,^)15822 Caminito Cantaras, Del Mar, CA 92014Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%1/22/203019.3 19.3 17.7 0.01 %
Emmalina LLC(#,^)3602 Rock Bay Dr, Louisville, KY 40245Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/21/20308.0 8.0 7.8 — %
Motorsport Imagery, Inc(#,^)16362 Cherokee Rd, Brooksville, FL 34601Apparel ManufacturingTerm LoanPrime plus 2.75%1/17/203019.3 19.3 18.4 0.01 %
Lyon Cubs LLC dba Dayton Valley Learning Center(#,^)357 Dayton Valley Rd, Dayton, NV 89403Social AssistanceTerm LoanPrime plus 2.75%1/16/2045162.0 162.0 179.8 0.06 %
222
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Luster Custom Homes LLC(#,^)18801 North Thompson Peak Pkwy, Ste 240, Scottsdale, AZ 85255Construction of BuildingsTerm LoanPrime plus 2.75%1/10/203031.3 31.3 28.6 0.01 %
VetMed LLC(#,^)908 4th Ave, Decatur, AL 35601Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/10/203074.9 74.9 68.5 0.02 %
Jordi X Kellogg, M.D.,P.C(#,^)9200 SE 91st Ave STE 340, Happy Valley, OR 97086Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/10/203053.5 53.5 48.9 0.02 %
CV Flores LLC dba A All Animal Control(#,^)2140 E Southlake Blvd L-503, Southlake, TX 76092Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/9/20304.1 4.1 3.9 — %
Global Information Technology, Inc(#,^)1 Cragwood Rd, Ste 101, South Plainfield, NJ 07080Administrative and Support ServicesTerm LoanPrime plus 2.75%12/31/2029482.1 482.1 440.7 0.14 %
Bearwaters Brewing Company(#,^)101 Park St, Canton, NC 28716Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2044247.8 247.8 279.7 0.09 %
Nick's Country Kitchen, LLC(#,^)3 Flanders Rd, Bethlehem, CT 06751Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2044277.1 277.1 310.5 0.10 %
Home Decor Liquidators, LLC dba Home Decor Outlets;Home Decor Mattress(#,^)8780 Pershall Rd, Hazelwood, MO 63042Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/30/2029109.4 109.4 115.4 0.04 %
Larry J. Frick dba L & S Trucking(#,^)157571 E Wausau Ave, Wausau, WI 54403Truck TransportationTerm LoanPrime plus 2.75%12/30/202942.0 42.0 40.5 0.01 %
Kiddie Garden Child Development Center, LLC(#,^)2809 W. Atkinson Ave, Milwaukee, WI 53209Social AssistanceTerm LoanPrime plus 2.75%12/30/204441.4 41.4 46.8 0.02 %
Spinnaker Vero Inc.(#,^)983 12th St., Vero Beach, FL 32960Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%12/30/2044760.1 760.1 826.4 0.27 %
Jauchem & Meeh Inc.dba Gregory Meeh Design;Jermy Chernick Design(#,^)524 Sackett St., Brooklyn, NY 11217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/30/2029221.1 221.1 220.4 0.07 %
Dilpreet Hundal dba Kwik Stop(#,^)1001 Sacramento Ave, West Sacramento, CA 95605Gasoline Stations Term LoanPrime plus 2.75%12/30/2044233.2 233.2 257.4 0.08 %
Vance Ewing LLC(#,^)22940 Harlan Ln, St. Robert, MO 65584Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/30/202995.6 95.6 100.8 0.03 %
Mankamana Holdings, LLc dba Perfect Brow Art, Mankamana Holdings, LLC(#,^)7302 Kirby Ave, Lubbock, TX 79424Gasoline Stations Term LoanPrime plus 2.75%12/27/2029116.8 116.8 115.6 0.04 %
Irony LLC dba Mulberry’s Garment Care(#,^)2579 Fairview Ave North, Roseville, MN 55113Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/27/2029956.9 956.9 877.9 0.28 %
Pro-Tek Pest Control, Inc, Pro-Tek Nurseries, LLC, Pro-Tek Irrigation(#,^)8712 60th Terrace South, Lake Worth, FL 33467Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029158.2 158.2 149.7 0.05 %
American Landscaping Company(#,^)6151 S St., Anchorage, AK 99518Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029261.4 261.4 266.4 0.09 %
313 Air Duct LLC Dba Jouny Cleaning Services, M & J Restoration Emerge(#,^)25150 W Warren Ave., Dearborn Heights, MI 48127Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044216.7 216.7 244.7 0.08 %
313 Air Duck LLC dba Jouny Cleaning Services, M & J Restoration Emerge(#,^)25150 W Warren Ave., Dearborn Heights, MI 48127Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029137.6 137.6 132.3 0.04 %
223
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
American Landscaping Company and Ground Effects Landscaping, LLC(#,^)6151 A St., Anchorage, AK 99518Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044623.2 623.2 703.6 0.23 %
K&S Hardware LLC dba Gopher Ace(#,^)1865 Wayzata Blvd, Long Lake, MN 55356Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/27/202953.1 53.1 53.6 0.02 %
A Family Member Homecare Group Inc, A Family Member Homecare Holdings(#,^)11788 Sample Rd, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/27/2044117.0 117.0 129.2 0.04 %
Watearth Inc(#,^)3371 Glendale Blvd Ste 208, Los Angeles, CA 90039Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/27/202939.7 39.7 36.2 0.01 %
Protek Pest Control, Inc. Pro-tek Nurseries LLC, Pro-Tek Irrigation(#,^)8712 60TH TER South, Lake Worth, FL 33467Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044137.3 137.3 155.0 0.05 %
Tatoo Tony's Under My Skin LLC(#,^)73 Memorial Pkwy, Atlantic Highlands, NJ 07716Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/27/204496.4 96.4 108.8 0.04 %
QXC Communications, Inc(#,^)4541 N Dixie Hwy, Boca Raton, FL 33431TelecommunicationsTerm LoanPrime plus 2.75%12/27/2029445.2 445.2 406.1 0.13 %
Icebox Cafe L.C. and Icebox Pantry, LLC(#,^)219 NE 3rd St., Hallendale Beach, FL 33009Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/26/2030404.7 404.7 383.0 0.12 %
Bhatti LLC 2, Bhatti LLC(#,^)1451 Coral Ridge Ave, Coralville, IA 52241Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/26/202995.7 95.7 89.0 0.03 %
Richwood Enterprises, LLC, Richwood Transport LLC, Richwood Transport(#,^)2564 Branch St., Middleton, WI 53562Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/24/2029225.7 225.7 221.8 0.07 %
Synergistic-Designs, LLC(#,^)493 Wilson Mill Rd, New Wilmington, PA 16142Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/24/20296.4 6.4 5.8 — %
Ink! Coffee Company(#,^)2851 Larimer St., Denver, CO 80205Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/24/2029470.5 470.5 429.2 0.14 %
Aitheras Aviation Group, LLC and International Aviation Sales, Ltd.(#,^)2301 N Marginal Rd, Cleveland, OH 44114Air TransportationTerm LoanPrime plus 2.75%12/23/2029416.7 416.7 393.9 0.13 %
512 E 11th Street LLC and Big Brand Management Ltd. Co.(#,^)512 E 11th St, Houston, TX 77008Real EstateTerm LoanPrime plus 2.75%12/23/2044322.3 322.3 363.9 0.12 %
The Lamkin Group LLC and National Championship Enterprises LLC(#,^)901 Lily Creek Rd, Ste 102, Louisville, KY 40243Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/23/2029567.7 567.7 518.5 0.17 %
Chris Farley DVM PA. dba Farley Veterinary Clinic(#,^)6487 Taft St., Hollywood, FL 33024Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202911.5 11.5 12.1 — %
Shaddai Aesthetics Inc(#,^)706 W. 34th St., Austin, TX 78705Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/20/202916.1 16.1 14.6 — %
Romain Tower Inc.(#,^)215 S Persimmon St, Tomball, TX 77375Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/20/2044888.1 888.1 959.9 0.31 %
ACC International LLC(#,^)200 N Furnace St, Birdsboro, PA 19508Administrative and Support ServicesTerm LoanPrime plus 2.75%12/20/2044310.8 310.8 339.2 0.11 %
La Tradicion Cubana Inc(#)9357 S.W. 40th St., Miami, FL 33165Miscellaneous Store Retailers Term LoanPrime plus 6.5%12/20/202911.0 11.0 11.3 — %
224
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Macon Arts Center LLC(#,^)4570 Pio Nono Ave, Macon, GA 31206Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/20/2044617.8 617.8 697.5 0.23 %
Kuros, LLC(#,^)21221 Baron Lake Dr, Cedaredge, CO 81413AccommodationTerm LoanPrime plus 2.75%11/19/204583.8 83.8 94.6 0.03 %
Kuros, LLC(#,^)21221 Baron Lake Dr, Cedaredge, CO 81413AccommodationTerm LoanPrime plus 2.75%12/19/2044383.6 383.6 433.1 0.14 %
Nebulos, LLC(#,^)5428 Twilight Way, Parker, CO 80134Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/19/202953.1 53.1 52.3 0.02 %
GDIM Enterprises Inc dba AAMCO(#)1657 Whiskey Rd., Aiken, SC 29803Repair and MaintenanceTerm LoanPrime plus 2.75%12/19/202917.9 17.9 17.3 0.01 %
United Capital Group LLC(#,^)23022 La Cadena Dr, Laguna Hills, CA 92653Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/19/2029273.8 273.8 259.6 0.08 %
Skyfall LLC dba EZ Self Storage(#,^)2705 US Hwy 45 North, Henderson, TN 38340Real EstateTerm LoanPrime plus 2.75%12/18/2044140.9 140.9 159.1 0.05 %
Premier Gaming Solutions Inc(#,^)17 South Grand Ave, Pasadena, CA 91105Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/18/20299.6 9.6 10.1 — %
The Burlington Academy of Learning LLC(#,^)10 Covey Rd, Burlington, CT 06013Social AssistanceTerm LoanPrime plus 2.75%12/18/202945.4 45.4 47.8 0.02 %
HADD Corp(#)364 Rugby Rd, Cedarhurst, NY 11516Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/17/202910.9 10.9 11.2 — %
J and K Project Management Consultants LLC(#,^)350 Mc Donnell St, Lewisville, TX 75057Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2044302.0 302.0 340.9 0.11 %
Signco America LP & Sparkle corporation Inc.(#,^)7938 Wright Rd, Houston, TX 77041Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/16/20441,146.8 1,146.8 1,294.8 0.42 %
J and K Project Management Consultants dba A. C. T. Construction(#,^)350 Mc Donnell St, Lewisville, TX 75057Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2029176.5 176.5 185.8 0.06 %
Farain Saremi dba USA Produce(#,^)461 G St., Los Banos, CA 93635Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/16/2044457.7 457.7 514.4 0.17 %
Nulane Entertainment LLC(#,^)4100 W. Alameda Ave # 300, Burbank, CA 91505Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/20296.5 6.5 5.9 — %
Jen Macias LLC dba Duende(#,^)2301 NW Thurman St., Portland, OR 97210Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/20296.9 6.9 6.3 — %
Math Enrichment, LLC(#,^)1009 E Capitol Expressway, San Jose, CA 95121Educational ServicesTerm LoanPrime plus 2.75%12/13/2029182.4 182.4 166.4 0.05 %
WURA LLC dba Dickey's Barbecue Pit(#,^)4325 E. University Dr, Ste 40, Prosper, TX 75078Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/13/202981.3 81.3 75.9 0.02 %
The Crane Guys, LLC(#,^)14480 Alondra Blvd, La Mirada, CA 90638Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/13/20291,153.5 1,153.5 1,111.0 0.36 %
Dr Steven J Seidel(#,^)42 Campeau Place, Bergenfield, NJ 07621Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/13/202969.0 69.0 63.1 0.02 %
Essex Indoor Golf Center LLC(#,^)23 Saybrook Rd, Essex, CT 06426Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/13/202966.9 66.9 64.5 0.02 %
The Floor Covering Warehouse, Inc(#,^)112 Orchard St., Stamford, CT 06902Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/13/2044231.3 231.3 261.1 0.08 %
Joyner5, Inc.dba British Swim School(#,^)1000 Settlers Landing Court, Wake Forest, NC 27587Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/12/202919.1 19.1 17.4 0.01 %
225
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Stockton TRI Industries, LLC(#,^)2141 E Anderson St, Stockton, CA 95205Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/12/20441,067.5 1,067.5 1,203.3 0.39 %
Belle Properties Northwest, Inc.(#,^)223 Ave B, Snohomish, WA 98290Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/12/2044126.5 126.5 142.8 0.05 %
Abylex, Inc and Worpex LLC(#)7473 Reese Rd #2, Sacramento, CA 95828Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/12/204492.8 92.8 95.0 0.03 %
Vaughn Chiropractic, PLLC dba Catalyst Chiropractic and Rehab(#,^)10904 Baltimore St NE, Blaine, MN 55449Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/11/202935.2 35.2 32.2 0.01 %
Chambers Funeral Home & Crematorium PA & Riverdale Park Crematory, LLC(#,^)5801 Cleveland Ave, Riverdale, MD 20737Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/11/2044289.1 289.1 326.4 0.11 %
CCD Construction Services LLC dba Clearwater Outdoor Design, CCD Exca(#,^)175 W Borgfeld Dr, San Antonio, TX 78260Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/11/2044108.4 108.4 121.7 0.04 %
Ciel Du Mel LLC dba Lala's Creamery(#,^)134 Petaluma Blvd North, Petalumaca, CA 94952Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/10/202914.0 14.0 13.2 — %
SLCP Transport, LLC dba Aamco(#,^)1407 Lomaland Dr, El Paso, TX 79935Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/202953.1 53.1 52.3 0.02 %
Helping Hands Group Daycare dba Dawn to Dusk Learning and Child Care(#,^)10 Tremont Rd, Tremont, PA 17981Social AssistanceTerm LoanPrime plus 2.75%12/10/204437.6 37.6 42.4 0.01 %
Elita 7, LLC and Behavioral Nutrition Inc.(#,^)16 Marble St., Worchester, MA 01603Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/9/2029275.8 275.8 273.9 0.09 %
Scott's Hardware, Inc., dba Medford Inc(#)200 Tuckerton Rd, Medford, NJ 08055Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 6.5%12/6/202910.9 10.9 11.2 — %
Bay Area Metal Fabricarion LLC(#,^)510 -512 Stone Rd, Benicia, CA 94510Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/6/2029116.2 116.2 111.5 0.04 %
DB Talak LLC(#,^)2018 SE 6th Ave, Portland, OR 97214Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/6/2044151.5 151.5 171.0 0.06 %
The Stout Group LLC(#,^)10850 NW 138th St, Hialeah Gardens, FL 33018Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/6/2029198.9 198.9 190.4 0.06 %
Eagle Eye Truck Lines LLC and Eagle Eye Logistics LLC(#,^)560 56th St SW, Grand Rapids, MI 49548Truck TransportationTerm LoanPrime plus 2.75%12/6/2029935.5 935.5 864.6 0.28 %
Glen Lamb dba Lambs Tree And Plant Health Care(#,^)413 Pond Meadow Rd, Westbrook, CT 06498Administrative and Support ServicesTerm LoanPrime plus 2.75%12/6/202915.9 15.9 15.3 — %
Wolf Pack, LLC(#,^)939 South 25th East, Ste. 115, Ammon, ID 83406Management of Companies and EnterprisesTerm LoanPrime plus 2.75%3/6/2030193.9 193.9 184.0 0.06 %
Mazhar Family, Inc dba Edible Arrangements(#,^)601 Portion Rd, Store #17, Lake Ronkonkoma, NY 11779Nonstore Retailers Term LoanPrime plus 2.75%12/6/202957.3 57.3 52.7 0.02 %
Natalie Enterprise Inc(#,^)2500 Grand Ave, Billings, MT 59102Administrative and Support ServicesTerm LoanPrime plus 2.75%12/6/202917.2 17.2 18.1 0.01 %
Standard Capital Corp(#)2349 Wessington Dr, Virginia Beach, VA 23456Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%12/5/202911.0 11.0 11.3 — %
226
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Clearwater Engineering Inc(#,^)301 N River St., Derby, KS 67037Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/5/2029501.2 501.2 480.8 0.16 %
Used Tire Express 1, Corp(#,^)437 N. Battlefield, Chesapeake, VA 23320Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/5/202973.3 73.3 69.1 0.02 %
Hook Line and Schooner Vinings LLC(#,^)400 West Village Way #3009, Smyrna, GA 30008Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/4/202919.1 19.1 18.5 0.01 %
Soto Injury Law Firm, PA and My Attorney Inc(#,^)2050 Capital Circle NE Ste B, Tallahassee, FL 32308Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/202953.4 53.4 48.8 0.02 %
Mega Sales Detergent Distributor, LLC(#,^)1 Ackerman Ave, Clifton, NJ 07011Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/29/202942.1 42.1 38.5 0.01 %
Codorado, Inc. dba Dentalmart(#,^)10 Glorieta Rd, Sante Fe, NM 87508Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/27/20298.9 8.9 8.1 — %
American Bio Source, LLC dba Dieselgreen Fuels(#,^)2522 N Hwy 287, Decatur, TX 76234Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%11/27/202942.1 42.1 44.3 0.01 %
Alice's Tea Cup, ATC !! LLC and ATC 111, LLC(#,^)102 W 73rd St., New York, NY 10023Food ManufacturingTerm LoanPrime plus 2.75%11/27/2029248.7 248.7 229.5 0.07 %
Loading Arms Plus Inc(#,^)5401 Mitchelldale St., Ste B4, Houston, TX 77092Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/27/202966.8 66.8 61.8 0.02 %
Behind the Scenes Chicago, LLC dba Paramount Events(#,^)2744 W. Roscoe St., Chicago, IL 60618Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2029292.3 292.3 281.2 0.09 %
Kanti Group Inc, Marina 84 Sport Bar & Grill LLC and Pub 52 Sports(#,^)2440 Wesr State Rd 84, Fort Lauderdale, FL 33312Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2029142.4 142.4 131.2 0.04 %
Roots'n Shoots, LLC(#,^)86 Boston Rd, Chelmsford, MA 01824Administrative and Support ServicesTerm LoanPrime plus 2.75%11/27/20299.0 9.0 8.2 — %
Haversack Holdings LLC(#,^)7930 W Kenton Circle, Ste 260, Huntersville, NC 28078Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/27/2029105.4 105.4 96.1 0.03 %
Fullmer's Landscaping, Inc.(#,^)9547 W Third St., Dayton, OH 45417Administrative and Support ServicesTerm LoanPrime plus 2.75%11/26/2029160.9 160.9 151.8 0.05 %
Ultra Flow Dispense, LLC(#,^)820 Prospect Hill Rd, Windsor, CT 06095Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/26/202989.8 89.8 82.4 0.03 %
Ford Custom Renovation LLC(#,^)405 Broadway St., Muncy, PA 17756Construction of BuildingsTerm LoanPrime plus 2.75%11/26/20297.0 7.0 6.4 — %
Hurricane Group, Inc.dba Crate Club Group(#,^)101 San Patricio Ave, Ste 860, Guaynabo, PR 00968Other Information ServicesTerm LoanPrime plus 2.75%11/25/202946.6 46.6 42.5 0.01 %
B.S Carrier LLC and United Truck & Trailer Repair LLC(#,^)3716 Garman Rd, Salem, VA 24153Truck TransportationTerm LoanPrime plus 2.75%11/25/2029199.2 199.2 201.5 0.07 %
S&C Cookies, Inc(#,^)1969 Jericho Turnpike, East Northport, NY 11731Miscellaneous Store Retailers Term LoanPrime plus 2.75%11/22/202947.4 47.4 43.4 0.01 %
Best Choice Meats, Inc,(#,^)12646 S Springfield Ave, Alsip, IL 60803Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/22/20441,294.1 1,294.1 1,461.0 0.47 %
ZUMI LLC dba Allstate Insurance(#,^)1537 W 79th St, Chicago, IL 60620Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/22/202910.1 10.1 10.6 — %
Cum Laude Enterprises, LLC(#,^)15218 Penn Hills Lane, Houston, TX 77062Nonstore Retailers Term LoanPrime plus 2.75%11/22/202916.2 16.2 16.0 0.01 %
A&N Design Studios Inc dba Door3 Business Application(#,^)370 Lexington Ave Ste 1806, Manhattan, NY 10007Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/202975.9 75.9 73.5 0.02 %
227
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Place Vendome Holding Co. Inc.dba R&F Marketing(#)308 Glenwood Rd, Swainsboro, GA 30401Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/22/2044425.8 425.8 448.5 0.15 %
Place Vendome Holding Co Inc.dba R&F Marketing(#)610 East Main St., Swainsboro, GA 30401Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/22/2029205.4 205.4 201.7 0.07 %
Peanut Butter & Co Inc(#,^)119 West 57th St., Ste 300, New York, NY 10019Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/22/2029158.1 158.1 144.2 0.05 %
Coral Springs Family Wellness LLC(#,^)2902 North University Dr, Coral Springs, FL 33065Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/21/2030107.6 107.6 98.9 0.03 %
Weeping Willow Kennel Inc(#,^)6041 Hammond School Rd, Salisbury, MD 21804Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/21/20293.8 3.8 4.0 — %
The Rollin' Trapp LLC(#,^)1731 Prevatt Rd, Dothan, AL 36301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/20296.8 6.8 6.6 — %
Cobb Roofing LLC(#,^)8101 NW 10th St, Oklahoma City, OK 73127Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/21/202949.0 49.0 44.7 0.01 %
AMH Construction, Inc.(#,^)30 South Ivey Lane, Orlando, FL 32811Construction of BuildingsTerm LoanPrime plus 2.75%11/20/2044264.6 264.6 298.8 0.10 %
AMH Construction, Inc.(#,^)30 South Ivey Lane, Orlando, FL 32811Construction of BuildingsTerm LoanPrime plus 2.75%11/20/202963.2 63.2 64.1 0.02 %
Cable Management LLC(#,^)290 Pratt St., Meriden, CT 06450Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/20/2029115.9 115.9 110.7 0.04 %
AD Learning Group, LLC dba The Learning Experience & AD Learning NH(#,^)181 Shunpike Rd, Cromwell, CT 06416Social AssistanceTerm LoanPrime plus 2.75%11/18/2029115.9 115.9 105.7 0.03 %
Ryan & Selena LLC dba Head of the Class Learning Center(#,^)1836 Kathleen Rd, Lakeland, FL 33805Social AssistanceTerm LoanPrime plus 2.75%11/18/2044429.6 429.6 480.6 0.16 %
Lindsley Excavating LLC(#,^)92 Town Line Rd, Fulton, NY 13069Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/15/2029162.3 162.3 161.9 0.05 %
Champions Of Diversity Media Inc dba Champions of Diversity(#,^)5100 Transamerica Dr, Columbus, OH 43228Administrative and Support ServicesTerm LoanPrime plus 2.75%11/15/204469.8 69.8 78.8 0.03 %
MToxins Venom Lab LLC(#,^)717 Oregon St., Oshkosh, WI 54902Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/15/204497.5 97.5 107.3 0.03 %
SSH Princeton LLC dba Stumpy's Hatchet House of Princeton(#,^)745 Alexander Rd, Ste 1-3, Princeton, NJ 08540Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/15/203037.6 37.6 34.4 0.01 %
Ninth Avenue, LLC(#,^)Empire Mall, 5000 W Empire Place, Room 916, Sioux Falls, SD 57106Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/14/203057.8 57.8 54.1 0.02 %
Sean McNamara(#)5639 Wood Lane, Allentown, PA 18106Nonstore Retailers Term LoanPrime plus 6.5%11/14/202910.8 10.8 11.1 — %
Rockin Robin Music Lessons LLC(#,^)9029 Hwy 6, Ste 160, Missouri City, TX 77459Educational ServicesTerm LoanPrime plus 2.75%11/14/20296.7 6.7 6.1 — %
Winning Sales Plan Inc(#,^)17811 Fairhaven Gateway, Cypress, TX 77433Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/14/202942.2 42.2 44.4 0.01 %
The Pinnacle Development Group Inc dba The Goddard School(#)105 Springside Dr, Akron, OH 44333Social AssistanceTerm LoanPrime plus 6.5%11/14/202910.8 10.8 11.1 — %
228
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Ameen Enterprises, LLC dba Bargain Town(#,^)1111 E Washington St, Stephenville, TX 76401Gasoline Stations Term LoanPrime plus 2.75%11/12/2029105.4 105.4 110.5 0.04 %
Potomac Nail Spa Corporation(#,^)14901 Potomac Town Place,, Woodbridge, VA 22191Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/12/202946.9 46.9 43.0 0.01 %
Two Roses Salon 1, Inc.dba National Fluid Power Institute(#,^)908 S Jefferson St., Amarillo, TX 79101Educational ServicesTerm LoanPrime plus 2.75%11/12/2029326.0 326.0 316.4 0.10 %
Adrienne's Gourmet Foods, Imagine Baking Inc(#,^)1034 Hancock St., Sandusky, OH 44870Food ManufacturingTerm LoanPrime plus 2.75%11/12/2044390.9 390.9 441.3 0.14 %
Steven French dba French Woodworking(#,^)1101 Horizon Dr Ste 101, Fairfield, CA 94533Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/12/204460.1 60.1 67.9 0.02 %
HH Wireless Connect LLC(#,^)48267 Deer Trail Dr, Canton, MI 48187Electronics and Appliance Stores Term LoanPrime plus 2.75%11/12/20297.0 7.0 6.3 — %
James Richard Farkas Jr. dba Lil Black Bear Inn(#,^)8072 State Rd 46 East, Nashville, TN 47448AccommodationTerm LoanPrime plus 2.75%11/12/2044105.1 105.1 116.4 0.04 %
NJ Floats, Inc(#,^)327 Route 202/206, Bedminster Township, NJ 07921Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/12/2046274.0 274.0 309.3 0.10 %
SSD Designs LLC(#,^)486 Vance St, Forest City, NC 28043Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%1/12/2030319.1 319.1 309.8 0.10 %
Adrienne's Gourmet Foods, Imagine Baking, Inc(#,^)1034 Hancock St., Sandusky, OH 44870Food ManufacturingTerm LoanPrime plus 2.75%11/12/2029446.3 446.3 453.9 0.15 %
East River Plumbing, LLC(#,^)997 E Loop, Priest River, ID 83856Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/8/204448.1 48.1 54.3 0.02 %
Integrated Vascular Services LLC(#,^)1452 Franklin Ave, Salem, OR 44460Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/8/202966.5 66.5 61.1 0.02 %
Link Recreational, Inc(#,^)304 Business Hwy 53, Minong, WI 54859Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/7/2029721.9 721.9 666.7 0.22 %
Link Recreational, Inc(#,^)304 Business Hwy 53, Minong, WI 54859Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/7/2044378.9 378.9 427.8 0.14 %
Fave Realty, Inc.(#,^)217-84 Hempstead Ave, Jamaica, NY 11429Real EstateTerm LoanPrime plus 2.75%10/31/2044112.5 112.5 127.0 0.04 %
Sunburst Trout Farm, LLC(#,^)314 Industrial Park Dr, Waynesville, NC 28786Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%10/31/2044223.6 223.6 252.4 0.08 %
C&P Trading and Sales Inc(#,^)950 Peninsula Corporate Circle Ste 3016, Boca Raton, FL 33487Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/31/2029209.4 209.4 191.1 0.06 %
11900 Marshfield Station Inc(#,^)11900 S Marshfield Ave, Calumet Park, IL 60827Gasoline Stations Term LoanPrime plus 2.75%10/31/20441,229.9 1,229.9 1,388.5 0.45 %
Kerzner Contracting Corp(#,^)1620 Ocean Ave, Bohemia, NY 11716Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/31/202994.1 94.1 85.9 0.03 %
L& F Gullo Service Corp(#,^)520 Main St, Westbury, NY 11590Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/31/2029146.4 146.4 133.6 0.04 %
The Committed Pig LLC(#,^)28 West Park Place, Morristown, NJ 07090Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2029249.4 249.4 262.5 0.08 %
Guru Kirpa, Inc(#,^)3006 New Castle Ave, New Castle, DE 19720Gasoline Stations Term LoanPrime plus 2.75%10/31/2044187.9 187.9 207.6 0.07 %
229
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Maine Service Corp(#,^)59-24 55th St., Maspeth, NY 11378Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%10/31/2029104.6 104.6 110.1 0.04 %
Mariscos El Oceano, Inc.(#,^)5960 S Archer Ave, Chicago, IL 60638Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2044122.4 122.4 138.2 0.04 %
MJ Group, Inc(#,^)26691 Loma Verde, Mission Viejo, CA 92691Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/202917.8 17.8 16.3 0.01 %
D & H Construction Services, Inc.(#,^)711 Hospital St., Richmond, VA 23219Construction of BuildingsTerm LoanPrime plus 2.75%10/31/2029117.1 117.1 110.7 0.04 %
Automotive Solutions, LLC(#,^)1910 W. Dupont Rd, Fort Wayne, IN 46818Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/2044290.9 290.9 328.1 0.11 %
Automotive Standard, LLC(#,^)4028 Coldwater Rd, Fort Wayne, IN 46805Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/2044134.4 134.4 151.8 0.05 %
Sunburst Trout Farm, LLC(#,^)314 Industrial Park Dr, Waynesville, NC 28786Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%10/31/202956.5 56.5 59.4 0.02 %
BGB Leasing Inc and BGB Leasing Co.(#,^)50 Industrial Park Rd, Princeton, KY 42445Truck TransportationTerm LoanPrime plus 2.75%10/30/2029970.5 970.5 939.6 0.30 %
Blue Agave & Brothers, LLC dba Blue Apachie Mexican Restaurant(#,^)905 Savoy Rd, Youngsville, LA 70592Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/30/202960.9 60.9 56.4 0.02 %
Lightning Strike Distributing, LLC dba Jedidiah's Jerky & Gournet(#,^)9912 Arizona Dr, Mohave Valley, AZ 86440Miscellaneous Store Retailers Term LoanPrime plus 2.75%10/30/202954.4 54.4 50.4 0.02 %
Plastic Depot, Inc(#,^)363 East Alondra Blvd, Gardena, CA 90248Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%10/30/2029132.4 132.4 120.9 0.04 %
BGB Leasing Co.(#,^)50 Industrial Park Rd, Princeton, KY 42445Truck TransportationTerm LoanPrime plus 2.75%10/30/204486.5 86.5 97.7 0.03 %
Paul Wintner dba P & R Props(#,^)23901 Calabasas Rd, Calabasas, CA 91302Miscellaneous Store Retailers Term LoanPrime plus 2.75%10/30/202947.1 47.1 42.9 0.01 %
Corple Enterprises, Inc(#,^)17887 US-380, Ponder, TX 76259Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%10/28/2029140.2 140.2 143.7 0.05 %
Proximo Consulting Services Inc(#,^)2500 Plaza 5, Jersey City, NJ 07311Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/28/202962.7 62.7 57.2 0.02 %
OWL Inc,(#,^)5300 S Orange Blossom Trail, Orlando, FL 32839Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%10/28/2029177.8 177.8 162.2 0.05 %
Perisseia Physicians LLC(#,^)1644 Lebanon Rd, Lawrenceville, GA 30043Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/28/2044384.5 384.5 423.0 0.14 %
Marnon Vending LLC dba Naturals 2 Go San Antonio(#,^)6713 Biscay Hbr, San Antonio, TX 78249Nonstore Retailers Term LoanPrime plus 2.75%10/28/20296.6 6.6 6.5 — %
Diamond Solutions LLC(#,^)7845 East Evans Rd . Ste A, Scottsdale, AZ 85260Machinery ManufacturingTerm LoanPrime plus 2.75%10/25/202910.7 10.7 9.7 — %
Landmark Ventures USA, Inc(#,^)475 Park Ave S, 25th Floor, New York, NY 10016Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%10/25/202987.8 87.8 80.1 0.03 %
Jbang LLC, WM Bang LLC, Bang Investments LLC(#,^)125 Westchester Ave, White Plains, NY 10601Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/202958.7 58.7 61.0 0.02 %
Four Ace Electrical Services Corporation(#,^)3723 Far Niente Way, Sacramento, CA 95834Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/25/202910.0 10.0 9.3 — %
230
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Sultan's Palace L.L.C.(#,^)8125 West Sahara Ave, Ste 300, Las Vegas, NV 89117Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/24/202917.7 17.7 16.7 0.01 %
Fimac Inc dba American Educational Services(#,^)26300 La Alameda, Ste 200, Mission Viejo, CA 92691Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/23/202918.8 18.8 17.3 0.01 %
James Clark and Company, Inc.(#)8885 Haven Ave, Ste 120, Rancho Cucamonga, CA 91730Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%10/22/202910.7 10.7 11.1 — %
Pyle Garage Doors OKC, INC dba Precision Door Service OKC(#,^)8860 S Sunnylane Rd, Oklahoma City, OK 73135Repair and MaintenanceTerm LoanPrime plus 2.75%10/22/202912.3 12.3 11.2 — %
Todd's Car Wash, LLC(#,^)5505 Johnston St., Lafayette, LA 70506Repair and MaintenanceTerm LoanPrime plus 2.75%10/18/2044330.4 330.4 373.0 0.12 %
Roughcut LLC(#,^)41540 National Rd, Belmont, OH 43718Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/17/2029398.0 398.0 418.9 0.14 %
Owens Family and Cosmetic Dentistry PLLC(#,^)403 E College St., Pulaski, TN 38478Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/17/2029225.5 225.5 212.3 0.07 %
UNIQUE PAVER INSTALLATIONS, INC.(#,^)4930 Mars Hill Rd, Bogart, GA 30622Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/17/202919.5 19.5 18.6 0.01 %
Pine Mountain Residential LLC(#)10240 Cosmopolitan Circle, Parker, CO 80134Specialty Trade ContractorsTerm LoanPrime plus 6.5%10/16/202910.7 10.7 11.1 — %
Powerlift Dumbwaiters, Inc(#)2444 Georgia Slide Rd, Georgetown, CA 95634Machinery ManufacturingTerm LoanPrime plus 6.5%10/16/202910.4 10.4 10.7 — %
The Cow Harbor Beer Company LLC dba Sand City Brewing Co.(#,^)19 Scudder Ave, Northport, NY 11768Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%2/11/2031283.8 283.8 270.1 0.09 %
Glenda D Brewer dba Bargain Store(#)107 Tabernacle Church Rd, Candor, NC 27229General Merchandise Stores Term LoanPrime plus 6.5%10/11/202910.7 10.7 11.1 — %
S&D Beauty Spa Inc dba Elite Nails, dba Bella's Nails &dba Onyx Nail(#,^)5604 Slide Rd, Lubbock, TX 79414Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/11/2029141.5 141.5 130.8 0.04 %
Q2 Ventures, LLC(#,^)2805 W Arimo Rd, Arimo, ID 83214Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/8/2029148.5 148.5 153.6 0.05 %
Paketo LLC dba West Loop UPS Store(#,^)623 W Lake St., Chicago, IL 60661Couriers and MessengersTerm LoanPrime plus 2.75%10/4/202913.8 13.8 12.8 — %
A Child's Dream Educational Center LLC(#,^)4127 NW 34th St., Gainsville, FL 32605Social AssistanceTerm LoanPrime plus 2.75%9/30/2029169.7 169.7 155.3 0.05 %
Heart and Vascular Associates of Tampa, LLC(#,^)17 David Blvd, Tampa, FL 33606Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/2044743.4 743.4 809.6 0.26 %
Joseph P Fusco DDS PC(#,^)77 N Centre Ave, Rockville Centre, NY 11570Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/202955.1 55.1 50.3 0.02 %
A Child's Dream Educational Center LLC(#,^)4127 NW 34th St., Gainesville, FL 32605Social AssistanceTerm LoanPrime plus 2.75%9/30/2044177.3 177.3 199.8 0.06 %
AV Strategy, Inc(#,^)9468 American Eagle Way Ste 100, Orlando, FL 32837Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/30/2029233.8 233.8 225.9 0.07 %
In Power Motors, LLC, In-Power Motors II LLC, In-Power Motors III LLC(#,^)2301 W. Buckeye Rd, Phoenix, AZ 85009Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/30/2044599.7 599.7 661.9 0.21 %
International Protection Group, LLC(#,^)481 8th Ave Ste 1130, New York, NY 10001Administrative and Support ServicesTerm LoanPrime plus 2.75%9/30/202968.5 68.5 69.6 0.02 %
231
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
50 Taps, LLC dba Colorado Taproom & Grill(#,^)19539 Hess Rd Ste Ste #101, Parker, CO 80134Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/202964.3 64.3 59.4 0.02 %
Crown Waste Corp(#,^)1 Plainview Rd, Bethpage, NY 11714Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%9/30/202941.5 41.5 40.0 0.01 %
Atlantic Pacific Hospitality Solutions Inc dba North Beach Bistro(#,^)725 Atlantic Blvd, Atlantic Beach, FL 32233Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/20297.3 7.3 6.7 — %
Meldi Maa, Inc dba The River Complex(#,^)74 S Main St., Woonsocket, RI 02895Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2044407.2 407.2 459.8 0.15 %
Wagner & Sons Inc(#,^)22365 Alydar Dr, Lexington Park, MO 20653Nonstore Retailers Term LoanPrime plus 2.75%9/27/202915.6 15.6 14.3 — %
Zima Dining Inc. dba Country Kitchen(#,^)1497 N Mt. Vernon Ave, Colton, CA 92324Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/202952.3 52.3 54.9 0.02 %
Hoagie Barmichaels Inc(#,^)1101 River Rd, New Windsor, NY 12553Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/2044108.4 108.4 117.2 0.04 %
Universe Appliance Repairs Inc.(#,^)3790 Merrick Rd, Seaford, NY 11783Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044563.8 563.8 611.1 0.20 %
Aztec Machine & Repair Inc, Cranrd & Material(#,^)1715 N 1st St, Bloomfield, NM 87413Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044683.7 683.7 751.0 0.24 %
Double H Services, LLC, C&T Oil Field Services, LLC and Brian S. Holma(#,^)3721 North 162nd St., Garber, OK 73701Support Activities for MiningTerm LoanPrime plus 2.75%9/27/2029952.5 952.5 917.7 0.30 %
Titan Laser Screed Concrete Services, LLC(#,^)8908 Wildlife Lane, Sanford, FL 32771Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/202941.5 41.5 38.8 0.01 %
Universe Appliance Repairs Inc.(#,^)3790 Merrick Rd, Seaford, NY 11783Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2029549.9 549.9 525.8 0.17 %
Stiegelbauer Associates Inc.(#,^)63 Flushing Ave Unit 342, Brooklyn, NY 11205Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/2029166.2 166.2 151.8 0.05 %
Zmetra Clearspan Structures LLC(#,^)2 Old Worcester Rd, Webster, MA 01571Miscellaneous ManufacturingTerm LoanPrime plus 2.75%9/27/2044419.9 419.9 474.1 0.15 %
Cherry and Candlewood Inc dba Aamco(#,^)3029 South St., Long beach, CA 90805Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044415.3 415.3 468.8 0.15 %
Santa Fe Flooring LLC(#,^)3711 Paseo Del Norte NE, Albuquerque, NM 87113Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%9/26/2029424.9 424.9 400.0 0.13 %
Adam's Construction & General Contracting LLC(#,^)7808 N Custer Rd, Freesoil, MI 49411Construction of BuildingsTerm LoanPrime plus 2.75%9/26/202961.0 61.0 57.5 0.02 %
Byler, Wolfe, Lutsch and Kampfer CPAs, Inc(#,^)360 East State St., Salem, OH 44460Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/25/204451.0 51.0 54.6 0.02 %
Anderson's Outdoor Adventures, LLC(#,^)4060 SW County Rd 232, Bell, FL 32619Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/25/202918.7 18.7 19.5 0.01 %
Quality Machine of Iowa, Inc(#,^)1040 4th Ave, Audubon, IA 50025Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/25/202956.5 56.5 59.4 0.02 %
Flamingo Bowl, Inc(#,^)3301 N 23rd St., McAllen, TX 78501Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/24/2029183.2 183.2 177.7 0.06 %
Unified Utility Services LLC(#,^)206 Frankie Lane, Ladson, SC 29456Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/20/2044151.6 151.6 171.2 0.06 %
232
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Standard Real Estate Services LLC(#)500 West Silver Spring Dr, Ste K 200,, Glendale, WI 53217Real EstateTerm LoanPrime plus 6.5%9/19/202910.7 10.7 10.9 — %
Host Marketing, LLC(#)206 Bell Lane, Ste B, West Monroe, LA 71291Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/18/202910.7 10.7 10.9 — %
Payne's Enviromental Service, LLC dba Bamaco(#,^)5617 Causeway Blvd, Tampa, FL 33619Administrative and Support ServicesTerm LoanPrime plus 2.75%9/18/2044500.9 500.9 549.6 0.18 %
Vancole Investments, Inc. dba Smoothie King #913(#,^)876 Virginia Ave, Hapeville, GA 30354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/20299.9 9.9 9.0 — %
Natalie Hart LLC dba Lady of Luxury & dba Country Sugar Events(#,^)1702 Fawn Gate St, San Antonio, TX 78248Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/17/202951.0 51.0 50.0 0.02 %
Win Health Institute, LLC(#,^)711 E Valley Rd, Basalt, CO 81621Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/17/20296.2 6.2 5.9 — %
Game Station, Inc.(#,^)2917 1st Ave SE, Cedar Rapids, IA 52402Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/16/202916.8 16.8 16.4 0.01 %
Bay Bowl Inc dba Shasta Lanes(#,^)11093 Black Marble Way, Redding, CA 96003Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/13/2044515.8 515.8 582.3 0.19 %
The Steel Method LLC dba Sneeze It(#,^)250 Passaic Ave Ste 200, Fairfield, NJ 07004Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/12/2029140.1 140.1 127.9 0.04 %
Oak Park Social LLC(#,^)14691 W 11 Mile Rd, Oak Park, MI 48237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/12/2045129.4 129.4 143.1 0.05 %
ACSS CPA, LLC(#,^)1016 S Texas Blvd, Weslaco, TX 78599Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/12/204438.4 38.4 42.8 0.01 %
Prime Precision Machining, LLC(#,^)845 Mandoline Ave, Madison Heights, MI 48071Real EstateTerm LoanPrime plus 2.75%9/11/2044267.9 267.9 296.9 0.10 %
Covert Recordings LLC(#,^)31-65 138th St. Apartment 3K, Flushing, NY 11354Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/11/20299.8 9.8 10.2 — %
Prime Precision Machining, LLC(#,^)845 Mandoline Ave, Madison Heights, MI 48071Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/11/2029200.8 200.8 189.7 0.06 %
Miami Squeeze Inc dba Miami Squeeze, LLC(#,^)18315 W. Dixie Hwy, North Miami Beach, FL 33160Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/11/202995.9 95.9 92.0 0.03 %
Body on Cue Health and Fitness LLC(#,^)129 A Orpha Dr, Middlebury, IN 46840Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/6/202937.4 37.4 34.5 0.01 %
Philly Games Inc.dba Queen & Rock Game Cafe(#,^)607-609 S 2nd St., Philadelphia, PA 19147Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/5/202951.7 51.7 47.4 0.02 %
Eco Electric LLC(#,^)5380 Cameron St, Las Vegas, NV 89118Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/5/202954.5 54.5 49.7 0.02 %
SVT Masonry Limited Liability Company(#,^)1208 Houghton Lane, Bennington, VT 05201Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/5/202961.6 61.6 62.8 0.02 %
Dog House Sportfishing Charters Inc(#)83413 Overseas Hwy, Islamorada, FL 33036Scenic and Sightseeing TransportationTerm LoanPrime plus 6.5%8/30/202910.6 10.6 10.9 — %
No Push Backs, LLC(#)5405 Neshaminy Blvd, Bensalem, PA 19020Personal and Laundry ServicesTerm LoanPrime plus 6.5%8/30/202910.3 10.3 10.5 — %
Camror LTD dba Jersey Mike's(#,^)5946 Meijer Dr, Cincinnati, OH 45150Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/29/203074.4 74.4 78.5 0.03 %
3C Consumer Network & Designs LLC(#,^)7676 Hillmont St., Ste 109, Houston, TX 77040Real EstateTerm LoanPrime plus 2.75%8/29/202912.4 12.4 11.7 — %
233
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Double Scoop Ice Cream, LLC(#,^)2970 Stonecrest Pass, Lithonia, GA 30038Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/29/204492.7 92.7 103.2 0.03 %
Crown Heights Bunch O Bagels & More Inc & 361 Bagel Holding LLC(#,^)361 Troy Ave, Brooklyn, NY 11213Food and Beverage Stores Term LoanPrime plus 2.75%8/29/202932.9 32.9 34.6 0.01 %
Esquire Mini Mart LLC & Morgan Store Building LLC(#,^)12595 S Somerton Ave, Yuma, AZ 85365Food and Beverage Stores Term LoanPrime plus 2.75%8/29/202942.2 42.2 42.3 0.01 %
Groton Bowling Center and Entertainment Inc(#,^)27 Kings Hwy, Groton, CT 06340Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/29/2044930.1 930.1 1,038.5 0.34 %
Linsey Schwertdfeger,, Inc.(#,^)740 Dennery Rd, San Diego, CA 92154Repair and MaintenanceTerm LoanPrime plus 2.75%8/28/202958.4 58.4 54.0 0.02 %
Blue Eagle Transport Inc.,Golden Eagle Tran and Green Eagle(#,^)377 Boston Post Rd, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%8/28/2029402.8 402.8 380.4 0.12 %
Khari E. J. Myers dba Khari Imagery & 190 Minerva LLC(#,^)190 Minerva St., Tonawanda, NY 14150Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/28/204457.6 57.6 65.0 0.02 %
DB Talak LLC(#,^)2018 SE 6th Ave, Portland, OR 97214Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/28/202978.2 78.2 82.1 0.03 %
HRS2, LLC(#,^)5410 Pipers Creek Court, Sugar Land, TX 77479Nonstore Retailers Term LoanPrime plus 2.75%8/28/2029190.7 190.7 193.6 0.06 %
The Hometown Welcome Program, Inc & Fredric Anthony(#,^)107 S Nottawa St, Sturgis, MI 49091Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/27/202980.2 80.2 77.8 0.03 %
Maryland Urgent Care, Inc.(#,^)9831 Greenbelt Rd Ste 208 (Unit H-2), Lanham, MD 20706Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/27/204444.2 44.2 49.9 0.02 %
ADA Internacional Inc(#,^)10891 La Reina Rd, Ste 100, Delray Beach, FL 33446Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%8/26/202918.5 18.5 16.9 0.01 %
Crystal S. Prado dba Crystal Clear Accounting(#)34099 Tuscan Creek Way, Temecula, CA 92592Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/26/20292.8 2.8 2.8 — %
Elite Motors LLC(#,^)1046-1050 Orange Ave, West Haven, CT 06516Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%8/23/202973.2 73.2 76.9 0.02 %
SRJ construction Corp(#,^)8358 W Oakland Park Blvd. #203E, Sunrise, FL 33351Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/23/20299.3 9.3 8.6 — %
PJT Logistics, Inc.(#,^)2-4 Commerce Way, Auburn, NY 13021Truck TransportationTerm LoanPrime plus 2.75%8/23/202942.3 42.3 44.4 0.01 %
The Roux Southern Kitchen, LLC(#,^)252 FM 3162, Sandia, TX 78383Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/22/202914.9 14.9 15.7 0.01 %
MS Integrated Psychotherapy & Counseling, LLC(#,^)1157 Main St., Clifton, NJ 07011Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/22/202961.2 61.2 59.4 0.02 %
Metro R Services Inc. and Metal & Roof Supplies, Inc.(#,^)20 Universal Place, Carlstadt, NJ 07072Repair and MaintenanceTerm LoanPrime plus 2.75%8/21/2029159.6 159.6 159.7 0.05 %
MB Nursery LLC dba The Garden Center(#,^)15562 HWY-South, Whitehouse, TX 75791Administrative and Support ServicesTerm LoanPrime plus 2.75%8/21/202977.5 77.5 81.4 0.03 %
William Martinez dba Bad Ass Coffee of Hawaii(#,^)14101 Main St., Ste 4101, Hesperia, CA 92345Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/20/202919.0 19.0 17.7 0.01 %
234
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Auto Unique LLC(#,^)305 W Main St., Mayo, FL 32066Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%8/20/204411.8 11.8 13.3 — %
Signature Rooms, Inc.(#,^)2066 Route 112, Medford, NY 11763Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%8/19/2029139.0 139.0 146.0 0.05 %
Accent Home Services LLC dba Benjamin Franklin Plumbing of Kansas City(#,^)7748 Troost Ave, Kansas City, MO 64131Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/15/202984.5 84.5 84.0 0.03 %
AJN Innovations LLC dba Burgerim(#,^)6704 Main St., Miami Lakes, FL 33014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/15/2031111.4 111.4 103.5 0.03 %
American Healthy Vending, Inc(#,^)5420 NW 161 St., Palmetto Lakes, FL 33014Nonstore Retailers Term LoanPrime plus 2.75%8/15/202987.5 87.5 83.5 0.03 %
Accelerate Educational Solutions, LLC dba Tutor My Success(#,^)135 Clove Branch Rd, Hopewell Junction, NY 12533Educational ServicesTerm LoanPrime plus 2.75%8/14/202914.2 14.2 13.0 — %
Ranson Excavating, Inc(#,^)8343 Kaula Dr, Fair Oaks, CA 95628Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/13/202912.1 12.1 11.0 — %
Love Playing LLC(#,^)2200 Eastridge Loop, San Jose, CA 95122Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/9/2030149.5 149.5 142.5 0.05 %
Elixir Enterprises, LLC dba Guilford Renee's(#,^)637 Boston Post Rd, Guilford, CT 06437Food and Beverage Stores Term LoanPrime plus 2.75%8/8/202916.2 16.2 14.8 — %
A & S Services LLC dba Kona Ice of Troy(#)3888 Lightner Rd, Vandalia, OH 45377Food Services and Drinking PlacesTerm LoanPrime plus 6.5%8/7/202910.6 10.6 10.9 — %
Accord Law, APC(#,^)82555 Grass Flat Lane, Indio, CA 92203Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/2/20296.2 6.2 5.6 — %
Leader Engineering-Fabrication, Inc.(#,^)695 Independence DrIive, Napoleon, OH 43545Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%8/2/2029103.2 103.2 108.4 0.04 %
East Coast Flight Services, Inc and Aviation Consulting Enterprise(#,^)27603 Pkwy Rd, Easton, MD 21601Air TransportationTerm LoanPrime plus 2.75%7/31/2029447.4 447.4 424.9 0.14 %
Billy Auto Inc(#,^)632 N Broadway, Amityville, NY 11701Repair and MaintenanceTerm LoanPrime plus 2.75%7/31/2044311.1 311.1 338.2 0.11 %
Canyon Lake Kids Academy, LLC(#,^)130 Charter Oak Dr, Canyon Lake, TX 78133Social AssistanceTerm LoanPrime plus 2.75%7/31/204494.0 94.0 105.6 0.03 %
Quick and Quality Services dba Bella Roma Pasta & Pizza & Farshad(#,^)28940 Golden Lantern, Laguna Niguel, CA 92677Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/20299.3 9.3 8.9 — %
Gray Rock Quarry, LLC and William E Dailey III(#,^)54 West Milton Rd, Milton, VT 05468Mining (except Oil and Gas)Term LoanPrime plus 2.75%7/31/2044431.4 431.4 446.8 0.14 %
La Mount Group LLC(#,^)3111 Princeton Rd, Hamilton, OH 45011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/2029208.4 208.4 189.7 0.06 %
St. Francis Home Health Inc(#,^)5246 SW 8th St 103B, Coral Gables, FL 33134Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/31/202961.3 61.3 55.8 0.02 %
Genecco Produce, Inc. & Leo Genecco & Sons, Inc.(#,^)1850 Rochester Rd, Canadaigua, NY 14424Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%7/31/2029659.8 659.8 655.8 0.21 %
Living Spring Home Health Inc.(#,^)18350 Kedzie Ave Ste 204, Homewood, IL 60430Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/31/2029110.4 110.4 107.1 0.03 %
Dant A Sandras, D.D.S. LLC(#,^)13373 Hwy 3235, Larose, LA 70373Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/30/2029195.7 195.7 182.2 0.06 %
235
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Jbelis Stop N' Go, LLC dba Planet Smoothie(#,^)2565 E 17th St, Ammons, ID 83406Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/30/202915.9 15.9 14.7 — %
Aeromax Industries, Inc, HITM, Inc and TMCB LLC(#,^)9027 Canoga Ave, Canoga Park, CA 91301Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%7/30/2044754.7 754.7 819.7 0.27 %
Grad Street LLC(#)2437 Corinth Ave Apt 130, Los Angeles, CA 90064Nonstore Retailers Term LoanPrime plus 6.5%7/30/20296.1 6.1 6.3 — %
Micheal Birch and Tracy M. Pierce(#,^)E 2947 H-44, Traunik, MI 49891Gasoline Stations Term LoanPrime plus 2.75%7/29/204452.0 52.0 58.8 0.02 %
Sou's LLC(#,^)739 NE MLK Blvd, Portland, OR 97221Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/26/20294.9 4.9 4.8 — %
Power Associates Inc.(#,^)2766 West Good CT, Boise, ID 83702Real EstateTerm LoanPrime plus 2.75%7/26/202912.3 12.3 11.2 — %
Dan Dahlin Inc.(#,^)16465 MN-65, Ham Lake, MN 55304Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/26/2044391.4 391.4 441.9 0.14 %
Moore Chiropractic Center, P.A.(#,^)936 Roosevelt Trail Unit 1 & 2, Windham, ME 04062Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/26/20297.5 7.5 7.8 — %
Franklin Care Pharmacy Incorporated(#,^)520 N Franklintown Rd, Baltimore, MD 21223Health and Personal Care Stores Term LoanPrime plus 2.75%7/25/202944.3 44.3 46.6 0.02 %
A&W ALF, LLC dba A & W Assisted Living Facility(#,^)6600 Liberty Rd, Gwynn Oak, MD 21207Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%7/24/204495.7 95.7 108.1 0.03 %
Hardrock Alpha Enterprises, LLC(#,^)5101 Stine Rd, Bakersfield, CA 93313Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/19/202912.9 12.9 12.0 — %
700 Services Inc.dba 700 Credit Repair(#,^)1201 N Goliad St., Rockwall, TX 75087Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%7/19/20296.1 6.1 5.6 — %
Lawrence Adeyemo & Co LLC(#)209-34 112 Ave, Queens Village, NY 11429Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%7/19/20298.5 8.5 8.7 — %
JDM2 Water Station LLC(#,^)125 Chestnut Hill Dr, York, PA 17408Nonstore Retailers Term LoanPrime plus 2.75%7/18/2029171.0 171.0 167.6 0.05 %
Bonfire Hot Yoga LLC(#,^)3665 SW Hall Blvd, Beaverton, OR 97005Educational ServicesTerm LoanPrime plus 2.75%7/18/20296.7 6.7 6.3 — %
Ameritube, LLC(#,^)1000 North Hwy 77, Hillsboro, TX 76645Primary Metal ManufacturingTerm LoanPrime plus 2.75%7/18/2029102.2 102.2 107.3 0.03 %
Baton Rouge Cargo Services Inc(#,^)6013 McRaven Rd, Jackson, MS 39209Support Activities for TransportationTerm LoanPrime plus 2.75%7/17/2044280.4 280.4 310.5 0.10 %
Garage Floor Coating of MN.com,LLC(#,^)6701 West 23rd St., St. Louis Park, MN 55426Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/16/2044955.1 955.1 1,044.7 0.34 %
Adam Family Bowl Inc(#,^)1504 Chestnut St., Mishawaka, IN 46545Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/16/2044127.3 127.3 143.1 0.05 %
Bouquet Canyon Kennels(#,^)29973 Bouquet Canyon Rd, Santa Clarita, CA 91390Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/16/2044288.3 288.3 312.2 0.10 %
Beacon Metal Fabricators, Inc.(#,^)5425-D Hamilton Ave, Cleveland, OH 44114Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%7/12/202957.2 57.2 56.5 0.02 %
Last Touch, LLC(#,^)1612 Jackson St., Spirit Lake, IA 51360Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%7/11/204497.3 97.3 106.8 0.03 %
Menskha Inc(#)88 High St., Mountclair, NJ 07042Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%7/10/202910.5 10.5 10.8 — %
236
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
D DeGregoria LLC dba The UPS Store 4235 Massapequa(#,^)4940 Merrick Rd, Massapequa Park, NY 11762Couriers and MessengersTerm LoanPrime plus 2.75%7/10/202964.8 64.8 60.1 0.02 %
Nash-Delphia LLC(#,^)2135 Gallatin Pike N, Store 4, Madison, TN 37115Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%7/2/202912.1 12.1 12.1 — %
Good News Cafe, LLC(#,^)694 Main St. South, Woodbury, CT 06798Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2044239.0 239.0 269.8 0.09 %
5161 LLC(#,^)1478 E Mountain Dr, Santa Barbara, CA 93108Nonstore Retailers Term LoanPrime plus 2.75%6/28/2029513.7 513.7 546.3 0.18 %
Upul's Travel Service & Tours Inc(#,^)654 Shoppers Lane, Covina, CA 91723Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2029251.7 251.7 250.1 0.08 %
Sundown Audio, LLC(#,^)514 West 21St St., Newton, NC 28658Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/28/2044868.7 868.7 980.7 0.32 %
Balboa Fashion LLC(#,^)1016 S. Towne Ave, Unit 123, Los Angeles, CA 90021Apparel ManufacturingTerm LoanPrime plus 2.75%6/28/20296.1 6.1 6.0 — %
Nevada Recycling and Salvage LTD, AMCB LLC(#,^)1085 Telegraph St, Reno, NV 89502Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/28/20441,190.5 1,190.5 1,344.0 0.43 %
Crestview Ridge Farms LLC(#,^)1172 Co Rd 956, Ashland, OH 44805Crop ProductionTerm LoanPrime plus 2.75%6/28/2044514.9 514.9 581.4 0.19 %
Richmond Street Partners, LLC(#,^)200 E Chestnut St, Chicago, IL 60611Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%6/28/202984.0 84.0 83.7 0.03 %
K & K Restaurant LLC(#,^)6607 S Central Ave, Phoenix, AZ 85042Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2044121.4 121.4 137.0 0.04 %
Southern Specialties Transportation LLC(#,^)116 Toledo Dr, Lafayette, LA 70506Truck TransportationTerm LoanPrime plus 2.75%6/28/202923.0 23.0 24.5 0.01 %
Jian Yang and Kanger House LLC(#,^)48 Horse Hill Rd, Cedar Knolls, NJ 07927Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/27/202997.4 97.4 96.9 0.03 %
Kim Howard Corp dba NPN Machine Tools(#,^)9130 Wayfarer Ln, Houston, TX 77075Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/28/2029197.2 197.2 210.1 0.07 %
Port Huron Ophthalmology, PLLC dba Black River Optical(#,^)1033 River St., Port Huron, MI 48060Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/202912.2 12.2 12.1 — %
Advance Transit LLC(#,^)574-614 Tonnelle Ave, Jersey City, NJ 07307Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/28/2044746.0 746.0 842.2 0.27 %
NJ Floats Inc(#,^)1 Robertson Rd, Ste 13, Bedminster, NJ 07921Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/2044172.3 172.3 194.6 0.06 %
Upul's Travel Service & Tours Inc(#,^)654 Shopping Lane, Covina, CA 91723Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2044343.5 343.5 387.8 0.13 %
Crescent Event Productions, Inc(#,^)1327 Wood Branch Dr, Charlotte, NC 28273Administrative and Support ServicesTerm LoanPrime plus 2.75%6/27/2029283.8 283.8 286.1 0.09 %
S & T Hardware Inc(#,^)2300 Nooseneck Hill, Coventry, RI 02816Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/27/2044192.6 192.6 217.4 0.07 %
Ailky Corporation & Wyspen(#,^)352 Bedford St., Lakeville, MA 02347Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/27/202939.5 39.5 39.3 0.01 %
Pawfection Pet Services LLC(#,^)177 W Cottonwood Ln, Ste 12, Casa Grande, AZ 85122Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/27/20298.4 8.4 8.4 — %
237
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
All-City Towing LLC, Jeffrey James Piller(#,^)1213 W Mallory Ave, Milwaukee, WI 53221Support Activities for TransportationTerm LoanPrime plus 2.75%6/26/2029327.8 327.8 339.7 0.11 %
Lynx Inspection Technologies LLC(#,^)8101 Miller Rd 2, Houston, TX 77049Support Activities for MiningTerm LoanPrime plus 2.75%6/26/2044553.6 553.6 625.0 0.20 %
Child Care Ventures LLC dba Childcare Adventures ELC(#,^)3542 Glendale Ave, Toledo, OH 43614Social AssistanceTerm LoanPrime plus 2.75%6/26/2044141.0 141.0 159.2 0.05 %
Soft Touch Tissue & Paper LLC(#,^)1491 Hammond St., Bangor, ME 04401Paper ManufacturingTerm LoanPrime plus 2.75%6/26/2044226.2 226.2 255.4 0.08 %
Selective Automotive & Accessories Group, Inc(#,^)2221 Pelham Pkwy, Pelham, AL 35124Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/26/2029202.6 202.6 207.2 0.07 %
Tekoa Enterpises, Inc(#,^)1033 Cannon Bridge Rd, Cordova, SC 29039Truck TransportationTerm LoanPrime plus 2.75%6/26/202946.6 46.6 47.4 0.02 %
Soft Touch Tissue & Paper LLC(#,^)1491 Hammond, Bangor, MA 04401Paper ManufacturingTerm LoanPrime plus 2.75%12/26/202996.9 96.9 103.7 0.03 %
Vanchoc Transport Inc(#,^)137 3rd St, Brooklyn, NY 11231Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/25/202935.3 35.3 36.2 0.01 %
Paradise Towing & Recovery Inc(#,^)1115 S. Horner Blvd, Sanford, NC 27330Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/204470.1 70.1 79.2 0.03 %
Paradise Towing & Recovery Inc(#,^)1115 S Homer Blvd, Sanford, NC 27330Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/202988.0 88.0 91.5 0.03 %
Spartan Technology Solutions, Inc(#,^)125 Venture Blvd, Spartanburg, SC 29306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/2044467.0 467.0 527.2 0.17 %
Professional Tire Limited Liability Company(#,^)6655 Country Rd 32, Norwich, NY 13815Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/2044133.3 133.3 150.5 0.05 %
Sweets By Karla LLC(#,^)3273 South John Young Pkwy, Kissimmee, FL 34746Food ManufacturingTerm LoanPrime plus 2.75%6/24/202910.4 10.4 10.3 — %
Krsto, LLC dba Italian Butter Breadsticks(#,^)34683 Nova Dr, Clinton Twp, MI 48035Food ManufacturingTerm LoanPrime plus 2.75%6/24/2044182.3 182.3 205.9 0.07 %
Scissor Kids Inc(#,^)63 Hebron Ave, Ste F, Glastonbury, CT 06033Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/24/20298.4 8.4 8.4 — %
Port Diesel L.L.C.(#)3212 Alex Trask Dr, Castle Hayne, NC 28429Repair and MaintenanceTerm LoanPrime plus 6.5%6/21/202910.5 10.5 11.7 — %
Peninsula Self Defense LLC(#,^)2766 Bay Rd, Redwood City, CA 94063Educational ServicesTerm LoanPrime plus 2.75%6/21/20294.3 4.3 4.3 — %
Campuscuts LLC(#)930 Robtrice Ct, Edmond, OK 73430Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/21/20296.3 6.3 7.1 — %
William Rose Inc(#,^)1 Grace Cove Rd, New Shoreham, RI 02807Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/21/204483.6 83.6 94.0 0.03 %
LuLuBelle's Mountain Banana Bread LLC(#,^)31621 Pleasant Dr., Running Springs, CA 92382Food ManufacturingTerm LoanPrime plus 2.75%12/21/2045247.5 247.5 279.4 0.09 %
Small Batch Creations Inc. dba The Office Bar & Grill(#,^)295 E WASHINGTON AVE, SUNNYVALE, CA 94086Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/202950.5 50.5 50.2 0.02 %
Central Texas Hygiene, LLC.(#,^)10201 McKalla Place, Austin, TX 78758Administrative and Support ServicesTerm LoanPrime plus 2.75%6/20/202970.1 70.1 69.6 0.02 %
International Institute for Learning Inc.(#,^)110 E 59th St ,31st floor, New York, NY 10022Educational ServicesTerm LoanPrime plus 2.75%6/19/20295.6 5.6 5.6 — %
238
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Zion Motors Inc(#,^)6949 Wall Triana Hwy, Madison, AL 35757Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/19/204458.1 58.1 65.6 0.02 %
Bader Furniture Company Inc.(#,^)704 N Liberty St., Shamokin, PA 17872Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%6/19/20296.1 6.1 6.5 — %
Beck's Pub & Grill LLC(#,^)N6630 WI-49, Weyauwega, WI 54983Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/204466.9 66.9 75.5 0.02 %
American Demolition, Inc(#,^)401 N Kuner Rd, Brighton, CO 80601Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/17/2029174.0 174.0 185.4 0.06 %
Comarco Quality Pork Products Inc, Comarco Pork Products of FL LLC(#,^)501 Jackson St, Camden, NJ 08104Food ManufacturingTerm LoanPrime plus 2.75%6/14/2029251.5 251.5 257.8 0.08 %
Kego 2 LLC dba Jon Smith Subs 80025(#,^)2001 W. Southlake Blvd Ste 143, Southlake, TX 76092Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/14/202987.5 87.5 88.4 0.03 %
A & S Services LLC dba Kona Ice of Troy(#,^)3888 Lightner Rd, Vandalia, OH 45377Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/14/204443.0 43.0 48.6 0.02 %
Law Office of Paula Padilla PLLC(#)2211 E Highland Ave Ste 130, Phoenix, AZ 85016Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/13/20294.2 4.2 4.7 — %
Ivesters Transportation, Inc(#,^)4299 South 2675 West, Roy, UT 84067Truck TransportationTerm LoanPrime plus 2.75%6/11/2029200.6 200.6 202.2 0.07 %
Archer Cleaners Inc(#)1514 W. 33rd St., Chicago, IL 60608Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/10/202910.5 10.5 11.7 — %
J&A Elliott Company(#,^)1118 Thornberry Dr, Clarksville, TN 37043Nonstore Retailers Term LoanPrime plus 2.75%6/7/20298.5 8.5 9.1 — %
Neely Motorsports, Inc dba Earl's Store #1;Earl's Performance Plumbing(#,^)15825-15827 Hawthorne Blve, Lawndale, CA 90260Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/7/2044231.6 231.6 261.5 0.08 %
Throop Family Holding Inc dba Klamath Basin Metals and Supply(#,^)7130 Crater Lake Hwy, White City, OR 97503Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/7/202932.4 32.4 33.1 0.01 %
Allison K. Chipak dba Still Photography(#)195 Terrace Place, Apt. 2, Brooklyn, NY 11218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/6/202910.5 10.5 11.7 — %
Skin Beauty Bar Inc(#,^)749 8th St., Washington, DC 20003Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/6/20294.3 4.3 4.2 — %
Jamestown Quick Stop LLC(#,^)3097 24th Ave, Hudsonville, MI 49426Food and Beverage Stores Term LoanPrime plus 2.75%6/5/204466.2 66.2 74.7 0.02 %
Preferred Manufacturing Services Inc(#,^)4261 Business Dr, Cameron Park, CA 95682Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/5/2029385.1 385.1 410.3 0.13 %
Oasis Senior Advisors Franchise Systems, LLC(#,^)24870 Burnt Pine Dr, Bonita Springs, FL 34134Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)Term LoanPrime plus 2.75%6/4/2029245.9 245.9 261.9 0.08 %
Evoke Growth Advisory LLC(#,^)2600 Brookwood Way Dr, Unit 311, Rolling Meadows, IL 60008Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/3/20296.1 6.1 6.0 — %
G.S.A.T. Restoration Inc. dba Paul Davis Restoration & Remodelin(#,^)1450 Oakbrook Dr, Norcross, GA 30093Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/31/202993.9 93.9 94.4 0.03 %
V & M Transportation LLC(#,^)1307 27th St. Apt B, North Bergen, NJ 07047Truck TransportationTerm LoanPrime plus 2.75%5/31/202910.5 10.5 10.5 — %
239
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Morey Publishing LLC(#,^)575 Underhill Blvd, Ste 216, Syosset, NY 11791Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/31/202950.3 50.3 50.1 0.02 %
Martin Inventory Management, LLC(#,^)304 1/2 Main St., Edgefield, SC 29824Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/31/202940.2 40.2 42.8 0.01 %
SSD Designs, LLC(#,^)486 Vance St., Forest City, NC 28043Chemical ManufacturingTerm LoanPrime plus 2.75%5/30/2044412.8 412.8 466.1 0.15 %
Inside & Out Maintenance LLC(#,^)1698 SW Pancoast St., Port St Lucie, FL 34987Administrative and Support ServicesTerm LoanPrime plus 2.75%5/30/202980.5 80.5 80.2 0.03 %
Aspen Welding LLC(#,^)28803 US-6, Rifle, CO 81650Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%5/30/2044390.9 390.9 441.4 0.14 %
AGR, Inc(#,^)2-255555 Kaumualii Hwy, Kalaheo, HI 96741Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/2044770.8 770.8 870.2 0.28 %
Brooklyn Breakfast Shop LLC(#,^)7707 S IH 35 Frontage Rd #730, Austin, TX 78744Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/20294.0 4.0 4.1 — %
Canela Media Inc(#,^)2715 Palomino Circle, La Jolla, CA 92037Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/29/202995.5 95.5 96.6 0.03 %
PD Financial LLC(#,^)364 Parsippany Rd, Unit 7-B, Parsippany, NJ 07054Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%5/28/204434.2 34.2 38.6 0.01 %
SV Enterprise LLC dba Haagen-Dazs(#,^)1885 Briargate Pkwy, Space D-413, Colorado Springs, CO 80920Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/24/202974.9 74.9 74.6 0.02 %
Clowers Trucking By Faith LLC(#)705 E Brookwood PL, Valdosta, GA 31601Truck TransportationTerm LoanPrime plus 6.5%5/23/202910.6 10.6 11.9 — %
2820 US HWY 98 N LLC dba Total Package Car Wash(#,^)2820 US Hwy 98 N, Lakeland, FL 33805Repair and MaintenanceTerm LoanPrime plus 2.75%5/23/2029107.1 107.1 114.1 0.04 %
Top Notch Roofing, Inc(#,^)46 Cherry St., Milton, VT 05468Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/23/202997.0 97.0 97.7 0.03 %
MCM Design LLC(#)5926 Vinings Vintage Way, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/23/20298.1 8.1 9.0 — %
McGuckin & Pyle Inc(#,^)120 Corporate Ln, New Bern, NC 28562Machinery ManufacturingTerm LoanPrime plus 2.75%5/23/2044294.6 294.6 332.6 0.11 %
ES&A, INC., A LAW CORPORATION(#,^)1003 Bishop St., Honolulu, HI 96813Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/22/202990.5 90.5 90.3 0.03 %
Anchor Up Fitness and Nutrition, LLC(#,^)2464 US-29, Pensacola, FL 32505Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/21/202916.3 16.3 16.7 0.01 %
BD Branson Victorian LLC dba Branson Surrey Inn(#,^)430 a/k/a 450 South Hwy 165, Branson, MO 65616AccommodationTerm LoanPrime plus 2.75%5/17/2029205.4 205.4 218.8 0.07 %
Kappa Investments LLC dba Buddy's Home Furnishings(#,^)365 Lowe's Dr, Ste H, Danville, VA 24540Rental and Leasing ServicesTerm LoanPrime plus 2.75%5/17/2029348.9 348.9 347.2 0.11 %
Covalent Holding LLC(#,^)18 West Chestnut St.,Unit 2F, Chicago, IL 60610Nonstore Retailers Term LoanPrime plus 2.75%5/17/2029212.3 212.3 218.7 0.07 %
AMP Trucking Inc(#,^)1030 Gettysburg Ave, Clovis, CA 93161Truck TransportationTerm LoanPrime plus 2.75%5/16/2029209.8 209.8 208.4 0.07 %
CJNR LLC dba Chenney Bear Cafe, Elma Lodge & Suites, Parkhurst Motel(#,^)208 East Main St., Elma, WA 98541AccommodationTerm LoanPrime plus 2.75%5/16/202915.1 15.1 16.1 0.01 %
Cut To The Chase 502 LLC(#,^)6903 Lakegreen Ct, Louisville, KY 40291Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/16/20292.7 2.7 2.8 — %
240
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Two Pie Lovers LLC dba Pizza Outpost(#,^)302 E. Millitary Hwy U1122, Brackettville, TX 78832Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/10/204441.7 41.7 47.1 0.02 %
The Lobster Pot Inc(#,^)119 Hope St., Bristol, RI 02809Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/10/2044353.3 353.3 398.9 0.13 %
Aloha To Go LLC(#,^)5903 Seminole Blvd, Seminole, FL 33772Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/202912.4 12.4 12.4 — %
NYM Solutions Inc.dba NYM Solutions, Inc(#)12150 SW 128th St. CT Ste 209, Miami, FL 33186Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%5/6/202910.4 10.4 11.6 — %
Folklore Music Exchange LLC(#,^)617 Tennessee Ave, Charleston, WV 25302Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%5/6/20294.1 4.1 4.0 — %
EPIFAB,LLC(#,^)1341 Brooks St. Unit D, Ontario, CA 91762Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%5/3/202917.1 17.1 17.4 0.01 %
Global Enterprises LLC dba Verdi Pizza(#,^)3111 S Valley View Blvd, Las Vegas, NV 89102Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/3/202916.8 16.8 16.7 0.01 %
Life View Prenatal Imagery, LLC(#,^)312 79th Ave North, Myrtle Beach, SC 29572Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/3/20294.9 4.9 4.9 — %
Mark Garvin dba Tipsy Canyon Winery(#,^)150 Upper Joe Creek Rd, Manson, WA 98831Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%5/3/2044101.4 101.4 114.5 0.04 %
Art Amore Studios, LLC(#,^)6507 Jester Blvd, Ste #107, Austin, TX 78750Educational ServicesTerm LoanPrime plus 2.75%5/3/20294.5 4.5 4.4 — %
Modern Trousseau, LLC(#,^)125 Bradley Rd, Woodbridge, CT 06525Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%5/1/2029251.3 251.3 263.9 0.09 %
DeVega Juice Co, - East Cobb, LLC dba Clean Juice Johnson Ferry(#,^)1205 Johnson Ferry Rd Ste 124, Marietta, GA 30068Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/202951.8 51.8 54.8 0.02 %
Midlothian Hardware, Inc dba Grills True Value(#,^)475 West 147th St, Midlothian, IL 60445Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%4/29/202931.9 31.9 34.0 0.01 %
Sona USA, Inc(#,^)15280 NW 79th Ct Ste 109, Miami Lakes, FL 33016TelecommunicationsTerm LoanPrime plus 2.75%4/26/2029131.7 131.7 134.4 0.04 %
Pellegrin Marine Transportation, LLC(#,^)117 Country Village Dr, Raceland, LA 70394Support Activities for TransportationTerm LoanPrime plus 2.75%4/26/2029116.8 116.8 118.5 0.04 %
La Dolce Vita LLC.(#,^)196 N. Holiday Rd, Miramar Beach, FL 32550Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/25/2044449.3 449.3 507.3 0.16 %
La Dolce Vita, LLC, La Dolce Vita Watersports LLC, LDV Golf Cart(#,^)196 N. Holiday Rd, Miramar Beach, FL 32550Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/25/2029398.9 398.9 405.8 0.13 %
Jones Roger Sherman Inn, Inc.(#,^)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/25/2029121.9 121.9 129.8 0.04 %
All My Best Inc.(#,^)4320 Anthony Court Stes 1,2,3, Rocklin, CA 95677Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%4/19/202949.9 49.9 50.4 0.02 %
ER & DC McPherson Holdings, LLC(#,^)6957 W Broward Blvd., Plantation, FL 33317Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/19/202939.0 39.0 39.0 0.01 %
2Choice2Friends dba 2 N 1 Salad Bar and Grill(#)901 W Braker Lane, Austin, TX 78758Food Services and Drinking PlacesTerm LoanPrime plus 6.5%4/17/202910.3 10.3 11.5 — %
241
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Expert Building Services LLC(#,^)74 Roosevelt St., Pequannock Township, NJ 07440Administrative and Support ServicesTerm LoanPrime plus 2.75%4/17/202916.3 16.3 16.2 0.01 %
Modern Demo & Services LLC(#,^)10161 W Park Run Dr, Las Vegas, NV 89145Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/202999.7 99.7 99.7 0.03 %
Rello, Inc. dba ID Salon(#)8063 Jericho Turnpike, Woodbury, NY 11797Personal and Laundry ServicesTerm LoanPrime plus 6.5%4/17/20295.0 5.0 5.5 — %
Pranamji Inc dba Ohara's Beverage Spot(#,^)2300 Levit Rd, Lorain, OH 44052Food and Beverage Stores Term LoanPrime plus 2.75%4/16/204445.0 45.0 50.9 0.02 %
Bill Berger LLC(#,^)8728 Tireman Ave, Detroit, MI 48204Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%4/12/20297.2 7.2 7.1 — %
P. Moss Enterprises, LLC dba Garage Experts-Mid Atlantic(#,^)3563 South River Terrace, Edgewater, MD 21037Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/202935.1 35.1 35.4 0.01 %
Samco Food Corp dba C-Town Supermarket(#,^)1761 Nostrand Ave, Brooklyn, NY 11226Food and Beverage Stores Term LoanPrime plus 2.75%4/12/202979.8 79.8 79.3 0.03 %
Gilpin Enterprises, LLC dba Jon Smith Subs(#,^)17790 State Rd 54, Lutz, FL 33458Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/12/202963.9 63.9 64.3 0.02 %
Southern Gulf Construction, Inc.(#,^)367 Pine Island Rd, North Fort Myers, FL 33903Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/202988.7 88.7 92.6 0.03 %
J.T. ONeill Company, LLC(#,^)19972 Willowin Farm Lane, Purceville, VA 20132Real EstateTerm LoanPrime plus 2.75%4/12/20297.8 7.8 7.7 — %
Maxiflex LLC(#,^)512 Verret St., New Orleans, LA 70114Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%4/11/202949.9 49.9 53.1 0.02 %
VRGE Strategies LLC(#,^)1155 15th St NW, Washington, DC 20005Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/10/202950.6 50.6 50.3 0.02 %
Georgetown Milling Co, LLC(#,^)9001 Wentworth Springs Rd, Georgetown, CA 95634Wood Product ManufacturingTerm LoanPrime plus 2.75%4/9/202910.2 10.2 10.3 — %
FRAJOVI Urban Air, LLC dba Urban Air Trampoline & Adventure Park(#,^)1256 Indian Head Rd, Toms River, NJ 08755Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%1/8/2030488.7 488.7 522.7 0.17 %
Bose and Avinder, Inc.and Carmel and Preet Inc(#,^)28201 Date Palm Dr, Cathedral City, CA 92234Gasoline Stations Term LoanPrime plus 2.75%4/5/202949.2 49.2 52.4 0.02 %
Marnon Enterprise LLC(#,^)6713 Biscay Hbr, San Antonio, TX 78249Administrative and Support ServicesTerm LoanPrime plus 2.75%4/5/20293.8 3.8 3.8 — %
Ren Investment Group Inc dba True Positon Manufacturing(#,^)40 Sandra Dr, South Windsor, CT 06074Machinery ManufacturingTerm LoanPrime plus 2.75%3/29/2029633.6 633.6 633.3 0.20 %
J Brothers Enterprises, LLC(#,^)1101 NW 12TH Ave, Ava, MO 65608Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/29/2044613.8 613.8 693.0 0.22 %
EJ & James Transport LLC(#,^)3100 Drewsky Lane Unit 108, Fort Mills, SC 29715Truck TransportationTerm LoanPrime plus 2.75%3/29/20297.5 7.5 7.6 — %
Outtasight Careers, LLC dba Gecko Hospitality(#,^)109 W Fern St., Tampa, FL 33604Administrative and Support ServicesTerm LoanPrime plus 2.75%3/29/202941.1 41.1 40.8 0.01 %
Turtle Shirts, LLC(#,^)10241 Metro Pkwy# 108, Ft Myers, FL 33966Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/29/202944.1 44.1 44.1 0.01 %
242
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Complete Care IT LLC(#,^)4801 South University Dr Ste 125, Davie, FL 33328Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/202941.5 41.5 41.2 0.01 %
Royalty Freight Inc.(#,^)3728 W McKinley Ave, Fresno, CA 93772Truck TransportationTerm LoanPrime plus 2.75%3/29/2029338.9 338.9 346.8 0.11 %
Pizzaplex L3C(#,^)4458 West Vernor Hwy, Detroit, MI 48209Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/202935.4 35.4 35.4 0.01 %
Bhatti LLC dba Auntie Ann's & Bhatti LLC 1(#,^)7219 Silver Mist Ave, North Chesterfield, VA 23237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/2029130.6 130.6 129.4 0.04 %
Reliable Power Group Inc. dba Batteries & bulbs Pensacola(#,^)6895 N. 9th Ave Ste B, Pensacola, FL 32504Repair and MaintenanceTerm LoanPrime plus 2.75%3/29/202979.1 79.1 78.5 0.03 %
Bright Freight Solution, LLC(#,^)1112 N Main St, Manteca, CA 95336Truck TransportationTerm LoanPrime plus 2.75%3/29/2029752.5 752.5 767.9 0.25 %
Key HR Associates, Inc dba Parents Choice for Kids(#,^)3150 West Park Dr, Burnsville, MN 55306Social AssistanceTerm LoanPrime plus 2.75%3/29/2044443.8 443.8 501.1 0.16 %
Hamsons Inc.(#,^)4900 Hopyard Rd, Pleasanton, CA 94588Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%3/29/2029148.3 148.3 147.0 0.05 %
Bayco Enterprises, Inc(#,^)128 Cowesett Ave, West Warwick, RI 02893Gasoline Stations Term LoanPrime plus 2.75%3/29/2044189.2 189.2 213.6 0.07 %
NuBe Business Group LLC(#,^)2140 44th St SE, Ste 201, Grand Rapids, MI 49508Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/204439.0 39.0 44.1 0.01 %
Stillwater Ventures, LLC(#,^)8272 W. Sunset Blvd, Los Angeles, CA 90048Nonstore Retailers Term LoanPrime plus 2.75%3/29/2029303.5 303.5 313.7 0.10 %
Raven's Place LLC(#,^)13031 S Western Ave, Blue Island, IL 60406Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/2044672.4 672.4 759.2 0.25 %
J.C. Pallet Company, Inc.(#,^)18427 New Kent Hwy, Barhamsville, VA 23011Wood Product ManufacturingTerm LoanPrime plus 2.75%3/28/2029356.0 356.0 369.1 0.12 %
GS Bath Inc(#,^)5335 E. Kaviland Ave, Fresno, CA 93725Truck TransportationTerm LoanPrime plus 2.75%3/28/2029250.8 250.8 255.8 0.08 %
Custom Vinyl Products LLC(#,^)260 Enterprise Dr, Newport News, VA 23603Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/28/2044964.0 964.0 1,088.4 0.35 %
Skaggs RV Outlet ,LLC(#,^)301 Commerce Dr, Elizabethtown, KY 42701Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/28/2029197.1 197.1 209.5 0.07 %
Cocomo Joe's LLC(#,^)3949 New Rd, Youngstown, OH 44515Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/20292.8 2.8 2.8 — %
PA Sobol Partners LLC dba Sobal(#,^)206 Rohrerstown Rd, Lancaster, PA 17603Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/28/202941.0 41.0 41.3 0.01 %
DC AG, LLC dba Big B Sales(#,^)674 LA- 8, Sicily Island, LA 71368Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/27/2044559.7 559.7 631.9 0.20 %
Ocean Trans LLC and Dehal Trucking LLC(#,^)1415 W Anderson St., Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%3/27/202960.1 60.1 63.9 0.02 %
Cinco Fit LLC dba Cinco Fit(#,^)23010 Highland Knolls Blvd, Ste G, Katy, TX 77494Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/27/2029130.5 130.5 129.4 0.04 %
Danielle Vance LPC, LLC dba Danielle Vance MA, LPC(#,^)1127 Auraria Pkwy, Ste 201, Denver, CO 80204Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/27/20294.5 4.5 4.5 — %
243
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Heritage Hills Athletics 1, LLC and Heritage Hills Athletics 1, LLC(#,^)2880 Carol Rd, East York, PA 17402Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/26/20441,220.5 1,220.5 1,377.9 0.45 %
District 5 Boutique LLC(#,^)317 N Farview Ave, Paramus, NJ 07652Nonstore Retailers Term LoanPrime plus 2.75%3/26/202998.9 98.9 98.0 0.03 %
J & C May Properties, LLC(#,^)315 Sylamore Ave, Mountain View, AR 72560Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/22/20441,081.8 1,081.8 1,221.3 0.39 %
Virginia Industrial Plastics, Inc.(#,^)2454 N East Side Hwy,, Elkton, VA 22827Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/22/2044290.0 290.0 327.4 0.11 %
Gary Krause dba Gary Krause Landscaping & Design(#,^)489 Hamilton Rd, Jacksonville, OR 97530Administrative and Support ServicesTerm LoanPrime plus 2.75%3/22/20294.7 4.7 4.9 — %
Virginia Industrial Plastics, Inc.(#,^)2454 North East Side Hwy, Elkton, VA 22827Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/22/2029233.4 233.4 248.1 0.08 %
American Trails Transport, LLC(#,^)8704 Grand Ave, Billings, MT 59106Truck TransportationTerm LoanPrime plus 2.75%3/21/202944.0 44.0 44.8 0.01 %
Michigan Neurosurgical Institute P.C.(#,^)9400 South Saginaw St., Unit 1, Grand Blanc, MI 48439Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/20/2029143.4 143.4 142.4 0.05 %
Mega Trucking LLC and Olyimpian Industries LLC(#,^)5979 NW 151st St, Miami Lakes, FL 33014Truck TransportationTerm LoanPrime plus 2.75%3/20/2029316.2 316.2 325.1 0.11 %
Michigan Neurosurgical Institute, P.C., Optical Spine,LLC(#,^)9400 South Saginaw St., Unit 1, Grand Blanc, MI 48439Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/20/2044338.0 338.0 381.6 0.12 %
Sound Manufacturing Inc(#,^)1 Williams Lane, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/20/202939.5 39.5 39.2 0.01 %
Game Station, Inc.(#,^)2917 1st Ave SE, Cedar Rapids, IA 52402Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/19/2029207.7 207.7 211.1 0.07 %
Marvellous Print & Ship LLC(#,^)605 W Main St, Oxford, KS 67119Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/19/20292.7 2.7 2.6 — %
Vanchoc Transport Inc(#,^)137 3rd St, Brooklyn, NY 11231Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/15/202969.0 69.0 68.4 0.02 %
B & W Towing LLC(#,^)701 Addison Rd, Painted Post, NY 14870Support Activities for TransportationTerm LoanPrime plus 2.75%3/15/202945.5 45.5 48.4 0.02 %
Panetcarne Inc.dba Jersey Mike's Subs Greenfield(#,^)23077 Greenfield Rd, Southfield, MI 48075Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/202974.0 74.0 74.3 0.02 %
Screening Services Group, LLC(#,^)8670 Wilshire Blvd, Beverly Hills, CA 90211Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/14/2029235.5 235.5 236.1 0.08 %
Mill Creek Early Childhood Program LLC(#,^)510 South Batavia Ave, Batavia, IL 60510Social AssistanceTerm LoanPrime plus 2.75%8/11/202950.9 50.9 50.7 0.02 %
Alpine Remediation, Inc, T & M Holdings, LLC(#,^)14252 W 44th Ave Unit F, Golden, CO 80403Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/8/202969.3 69.3 70.9 0.02 %
Precise Air Systems, Inc(#,^)5467 W San Fernando Rd, Los Angeles, CA 90039Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/8/2029224.6 224.6 223.8 0.07 %
Wildflour Bakery & Cafe LLC(#,^)5137 Clareton Dr Ste 100,110 & 120, Agoura Hills, CA 91301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/8/202969.3 69.3 68.6 0.02 %
244
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
D & S Village Hardware LLC dba Cedar Mountain Country Store(#,^)76 Ranch Rd a/k/a 3695 Movie Ranch Rd, Duck Creek, UT 84762Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/8/2044191.9 191.9 216.7 0.07 %
Seeds of Knowledge Creative Learning Center LLC(#,^)15101 West McNichols Rd, Detroit, MI 48235Social AssistanceTerm LoanPrime plus 2.75%3/7/204421.4 21.4 24.2 0.01 %
Doble Rentals, L.L.C , Doble Rentals 2, LLC, Doble Rentals 3, LLC(#,^)487 Elizabeth Lake Rd, Waterford, MI 48328Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/4/2029124.5 124.5 123.4 0.04 %
Monkey Bones LLC(#,^)3361 Dayton Xenia Rd, Beavercreek, OH 45432Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/204417.9 17.9 20.2 0.01 %
Wooter Apparel, Inc(#,^)727 Page Ave., Staten Island, NY 10307Nonstore Retailers Term LoanPrime plus 2.75%2/28/202939.2 39.2 39.2 0.01 %
NY Scoops LLC dba Cool Suppliers and Breakneck Road LLC(#,^)20 Silver Fox Lane, Sussex, NJ 07461Food ManufacturingTerm LoanPrime plus 2.75%2/28/20293.9 3.9 4.1 — %
Shah Medical Center SC & Heeena Shyamani(#,^)484 Summit St, Elgin, IL 60120HospitalsTerm LoanPrime plus 2.75%2/28/2044216.0 216.0 243.9 0.08 %
Woodard Electric Services, Inc.(#,^)1600 Carter Cove Rd, Hayesville, NC 28904Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/202917.0 17.0 16.9 0.01 %
Matrix Z LLC(#)800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 6.5%2/27/202910.2 10.2 11.3 — %
Harbor Management Company Inc dba Jamba Juice(#,^)5501 Josh Birmingham Pkwy Concourse A, Charlotte, NC 28208Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/22/2029117.7 117.7 117.3 0.04 %
Mia Restoration Inc dba PuroClean and Puroclean of Morristown NJ(#,^)3633 B Hill Rd, Parsippany, NJ 07054Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/21/202932.4 32.4 32.5 0.01 %
Rob Barletta's Hockey School, Inc(#,^)2130 Providence Hwy, Walpole, MA 02081Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%2/19/202985.4 85.4 90.7 0.03 %
Bowl 360 Inc.(#,^)98-18 Rockaway Blvd, Far Rockaway, NY 11417Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/2029109.4 109.4 108.7 0.04 %
Bowl 360 Inc.(#,^)98-18 Rockaway Blvd, Ozone Park, NY 11417Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/2029127.6 127.6 130.7 0.04 %
Outler Transportation Services,LLC(#,^)3775 Carriage Downs CT SW, Snellville, GA 30039Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/19/202937.4 37.4 37.3 0.01 %
Integris Roofing, Inc(#,^)1174 Yellostone Dr, Lake Arrowhead, CA 92532Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/15/202917.6 17.6 17.5 0.01 %
M & M Burgers Inc dba Checkers(#,^)530 Willis Ave, Bronx, NY 10455Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/202991.4 91.4 91.8 0.03 %
Par-Man, Inc. dba Rockstar Tattoo(#,^)450 Fremont St #109 and 113, Las Vegas, NV 89101Health and Personal Care Stores Term LoanPrime plus 2.75%2/14/202949.1 49.1 48.9 0.02 %
KHSE Parks, Inc.(#,^)600 West Charles St., Matthews, NC 28105Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/14/202962.8 62.8 62.2 0.02 %
Tony Herring & Associates, Inc(#,^)211 West Camellia Dr, Slidell, LA 70458Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%2/14/202911.8 11.8 12.5 — %
245
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Gateway Veterinary Services, P.C. dba Liberty Animal Clinic(#,^)9212 Liberty Ave, Ozone Park, NY 11417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/14/2044131.5 131.5 148.5 0.05 %
Precedence Enterprises LLC dba Spartan Junk Removal(#,^)8101 Sandy Spring Rd Ste 250N, Laurel, MD 20707Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/8/202910.8 10.8 11.1 — %
Shepherd Fitness, LLC dba Workout Anytime Ooltewah(#,^)9408 Apison Pike, Ste 11, Ooltewah, TN 37363Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/8/2029133.3 133.3 135.6 0.04 %
EJGR Corp dba Brite Energy Solutions(#,^)87 Main St. Upper Level, Hastings-on-Hudson, NY 10706Utilities Term LoanPrime plus 2.75%2/8/202937.0 37.0 36.7 0.01 %
Pamletics LLC dba F45(#,^)22015 IH 10 West, San Antonio, TX 78249Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/8/20292.9 2.9 3.0 — %
Creative Counseling Nashville PLLC(#,^)4119 Gallatin Pike, Nashville, TN 37216Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/7/20290.8 0.8 0.8 — %
Hernando Beach Motel Inc.,The Purple Cow House of Pancake Inc(#,^)4291 Shoal Line Blvd, Hernando Beach, FL 34607AccommodationTerm LoanPrime plus 2.75%2/1/202911.8 11.8 12.5 — %
Jesus and Son's Landscape Contractors, LLC(#,^)4371 Durham Court, Denver, CO 80239Administrative and Support ServicesTerm LoanPrime plus 2.75%2/1/202945.1 45.1 45.3 0.01 %
Employer Resource Services LLC dba Data Pool(#,^)500 Research Rd, Richmond, VA 23236Administrative and Support ServicesTerm LoanPrime plus 2.75%1/31/202928.0 28.0 27.8 0.01 %
MYC Motors Inc(#,^)3808 Vegas Dr, Las Vegas, NV 89108Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%1/30/204471.3 71.3 80.5 0.03 %
FNF LLC dba AK Wine Grotto(#,^)11109 Old Seward Hwy, Anchorage, AK 99515Food and Beverage Stores Term LoanPrime plus 2.75%1/22/2029192.6 192.6 191.0 0.06 %
IGWT Coffee, LLC dba PJ's Coffee of New Orleans(#,^)414 Union St, Nashville, TN 37219Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/18/202964.2 64.2 63.6 0.02 %
MMC Investors, LLC dba Clean Juice(#,^)2879 W 95th St. Ste 195, Naperville, IL 60564Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/18/202969.5 69.5 69.6 0.02 %
Hilco Athletics & Graphics Inc(#,^)55 Green Hill St., West Warwick, RI 02816Apparel ManufacturingTerm LoanPrime plus 2.75%1/16/204465.4 65.4 73.9 0.02 %
Fluid Connections LLC dba BurgerIM(#,^)174 El Cerrito Plaza, El Cerrito, CA 94530Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/11/202948.7 48.7 49.6 0.02 %
CMLCLEARWATERBEACH.LLC dba Cousins Maine Lobster(#,^)309 Coronado Dr, Clearwater Beach, FL 33767Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/11/202970.8 70.8 70.8 0.02 %
HSR Tacos LLC dba California Tortilla(#,^)11694 Sudley Manor Dr, Manassas, VA 20109Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/11/202943.7 43.7 43.4 0.01 %
Rashed and Shabila LLC(#,^)14865 Hwy 92, Woodstock, GA 30188Gasoline Stations Term LoanPrime plus 2.75%1/4/202917.5 17.5 17.9 0.01 %
Romain Tower Inc. David Romaine, Sugar Land Crane and Rigging, LLC(#,^)215 S Persimmon St,, Tomball, TX 77375Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/31/2028204.8 204.8 203.0 0.07 %
The Chop House Inc.(#,^)191 Old Tower Hill Rd., South Kingstown, RI 02879Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2043529.8 529.8 598.1 0.19 %
Superior Concepts Acquisition Corp(#,^)1710 Tiles Ct, Grand Haven, MI 49417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/28/202899.6 99.6 100.6 0.03 %
246
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Nix and Nix Funeral Home North Inc,(#,^)1621 W. Dauphin St., Philadelphia, PA 08065Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/28/2043552.6 552.6 623.8 0.20 %
Superior Concepts Acquisition Corp(#,^)1710 Tiles Court, Grand Haven, MI 49417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/28/2043497.4 497.4 561.6 0.18 %
Galt Insurance Group of Bonita Springs, LLC & Bonita Safety Institut(#,^)10911 Bonita Beach Rd SE Unit 104 A & 104B, Bonita Springs, FL 34135Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/28/204317.8 17.8 20.1 0.01 %
Omega Funeral and Cremation Services,LLC(#,^)9503 Kenwood Rd, Cincinnati, OH 45242Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/28/2043324.1 324.1 365.9 0.12 %
American Rewinding of NC Inc dba MTS(#,^)1825 N Rocky River Rd, Monroe, NC 28110Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/28/2028370.9 370.9 374.8 0.12 %
East Breeze LLC dba Historic Springdale Pub and Eatery(#,^)32302 East Historic Columbia River Hwy, Corbett, OR 97019Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/27/2043121.8 121.8 137.5 0.04 %
Medworxs Inc.(#,^)6857 Timbers Dr, Evergreen, CO 80439Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/27/20288.1 8.1 8.0 — %
Fave Realty Inc.(#,^)74 Larkfield Rd, East Northport, NY 11731Real EstateTerm LoanPrime plus 2.75%12/27/2043117.3 117.3 132.4 0.04 %
Green Valley Landscape Management Inc. dba Apopka Mower and Equipment(#,^)2975 W Orange Blossom Trail, Apopka, FL 32712Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2043440.8 440.8 497.7 0.16 %
Reservations Unlimited LLC(#,^)312 W Main St., Red River, NM 87558Real EstateTerm LoanPrime plus 2.75%12/26/204385.5 85.5 96.5 0.03 %
BD Branson Victorian LLC dba Branson Victorian Inn(#,^)450 South Hwy 165, Branson, MO 65616AccommodationTerm LoanPrime plus 2.75%12/24/2043472.8 472.8 533.8 0.17 %
RM Hawkins LLC(#,^)5141 Topaz Dr, Colorado Springs, CO 80918Nonstore Retailers Term LoanPrime plus 2.75%12/24/2028231.5 231.5 235.6 0.08 %
Timios Enterprises Corp dba Palm Court(#,^)1912 N Arlington Heights Rd., Arlington Heights, IL 60004Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/24/2043683.7 683.7 771.9 0.25 %
Fifth Wheel Truck Stop 001, Inc.(#,^)3767 South Golden State Blvd, Fresno, CA 93725Gasoline Stations Term LoanPrime plus 2.75%12/21/202879.5 79.5 78.6 0.03 %
Diamond Estates LLC(#,^)110 Court St Ste 1, Cromwell, CT 06416Construction of BuildingsTerm LoanPrime plus 2.75%12/21/202857.9 57.9 57.2 0.02 %
Burgess and Dudley, Incorporated(#,^)24462 NW 9th Place, Newberry, FL 32669Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/21/2028183.5 183.5 185.3 0.06 %
The Law Office of Jared E. Shapiro, P.A(#,^)7777 Glades Rd, Ste 100, Boca Raton, FL 33434Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/20288.7 8.7 8.6 — %
Royalty Freight Inc(#,^)3728 W McKinley Ave, Fresno, CA 93722Truck TransportationTerm LoanPrime plus 2.75%12/21/202875.5 75.5 74.6 0.02 %
LP Industries, Inc and Playground Packages, LLC(#,^)2040 Norwood, Lenoir, NC 28645Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/21/202881.2 81.2 80.4 0.03 %
Accel Compression Inc.,Accel Workover Services Inc dba Mica Tool(#,^)4500 S Country Rd, Odessa, TX 79768Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/21/2044165.9 165.9 187.3 0.06 %
Cammarata Associates LLC(#,^)5 Greentree Center, Marlton, NJ 08053Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%12/21/202857.9 57.9 57.2 0.02 %
247
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
C&D Trucking & Equipment Service, Inc.(#,^)4015 Jennings Rd, Cleveland, OH 44109Repair and MaintenanceTerm LoanPrime plus 2.75%12/21/2043111.1 111.1 125.5 0.04 %
Precision Bytes LLC dba Tower Connect(#,^)607 West Magnolia Ave, Fort Worth, TX 76104Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2028100.3 100.3 99.2 0.03 %
Baseline Health, LLC & Baseline Health Management, LLC(#,^)1101 Stewart Ave Ste 104, Garden City, NY 11530Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/202891.8 91.8 91.7 0.03 %
Sesolinc GRP, Inc.(#,^)806 Randy Lowery Rd, Statesboro, GA 30461Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/21/2028289.5 289.5 296.4 0.10 %
ETS Tree Service Inc and Eastern Tree Service, Inc(#,^)4813 Pinson Valley Pkwy, Birmingham, AL 35215Administrative and Support ServicesTerm LoanPrime plus 2.75%12/21/2028183.4 183.4 186.8 0.06 %
Alaska Motor Home Inc(#,^)6633 Brayton Dr, Anchorage, AK 99507Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2028232.1 232.1 237.7 0.08 %
Graff Excavating, Inc(#,^)803 E State St., Toledo, IA 52342Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/20/2028150.9 150.9 150.3 0.05 %
Local Liberty Inc dba The Wardsboro Country Store(#,^)23 Main St., Wardsboro, VT 05355Food and Beverage Stores Term LoanPrime plus 2.75%12/20/2043147.4 147.4 166.5 0.05 %
Yellow Fin Marine Services LLC, K Marine XI, LLC K Marine VIII, LLC(#,^)2043 Coteau Rd, Houma, LA 70364Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2028304.6 304.6 323.0 0.10 %
Flashii App, Inc.(#,^)3031 Tisch Way, 1st Floor, San Jose, CA 95128Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202848.2 48.2 51.2 0.02 %
Healthy and Fresco LLC(#,^)1671 Belle Isle Ave Ste 110- Office C, Mount Pleasant, SC 29464Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/20/202935.6 35.6 35.9 0.01 %
Roots N Shoots, LLC & Yardplus LLC(#,^)86 Boston Rd, Chelmsford, MA 01824Administrative and Support ServicesTerm LoanPrime plus 2.75%12/20/202841.7 41.7 41.6 0.01 %
CK Green Partners, LLC dba Reis and Irvy"s Columbus(#,^)5010 Augusta Dr, Westerville, OH 43082Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/20/2029148.5 148.5 152.8 0.05 %
Hotel Compete, LLC(#,^)223 W Jackson Blvd, Chicago, IL 60606Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202848.2 48.2 47.7 0.02 %
Accent Comfort Services, LLC(#,^)5035 W. W.T. Harris Blvd Ste C, Mecklenburg, NC 28269Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/19/202853.1 53.1 52.7 0.02 %
Sheldon T Banks and Sheldon T Banks LLC dba Serenity Funeral chapel ll(#,^)G-2340 West Carpenter Rd, Flint, MI 48505Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/19/2044403.6 403.6 455.6 0.15 %
JejoJesi Corp dba Dukunoo Jamaican Kitchen, Dunkunoo(#,^)316 NW 24th St., Miami, FL 33180Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/19/202958.2 58.2 59.5 0.02 %
The Cromer Company(#,^)9800 NW 78th Ave, Hialeah Gardens, FL 33016Miscellaneous Store Retailers Term LoanPrime plus 2.75%12/19/2028420.9 420.9 416.8 0.13 %
Ventures TBD LLC dba The Bottle Tree(#,^)102 Davis St., Belmont, NC 28012Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/204393.8 93.8 105.9 0.03 %
Peanut Butter & Co., Inc.(#,^)119 West 57th St., Ste 300, New York, NY 10019Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/14/2028193.0 193.0 190.8 0.06 %
Mediterranean Tastes Inc dba Mediterranean Tastes Since 1974(#,^)196-15 Northern Blvd, Flushing, NY 11318Food and Beverage Stores Term LoanPrime plus 2.75%12/14/202812.2 12.2 12.1 — %
248
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Alpha Landscape Contractors, Inc(#,^)2823 Fllintstone Rd, Millers, MD 21102Administrative and Support ServicesTerm LoanPrime plus 2.75%1/14/2029250.6 250.6 254.6 0.08 %
Alpha Omega Trucking LLC(#,^)14432-14452 Stateline Rd, Brookings, OR 97415Truck TransportationTerm LoanPrime plus 2.75%12/14/202854.1 54.1 57.3 0.02 %
Cordoba Foods LLC, Multi Logistics Network Inc, Karina Mena(#,^)4477 E 11th Ave, Hialeah, FL 33013Food ManufacturingTerm LoanPrime plus 2.75%12/14/2028245.1 245.1 247.8 0.08 %
Healthy Human, LLC(#,^)1007 Johnnie Dodds Blvd., Ste 123, Mount Pleasant, SC 29464Nonstore Retailers Term LoanPrime plus 2.75%12/14/202896.4 96.4 95.3 0.03 %
Fitness Orlando LLC & Fitness Orlando Oviedo, LLC(#,^)160 Tuskawilla Rd Ste 1214, Winter Springs, FL 32708Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/14/2028212.4 212.4 214.4 0.07 %
L&M Services, LLC(#,^)560 Main St., Milford, UT 84751Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/14/2043190.0 190.0 214.5 0.07 %
Sound Contracting LLC(#,^)148 Holmgren Place, Girdwood, AK 99587Construction of BuildingsTerm LoanPrime plus 2.75%12/14/202833.3 33.3 34.0 0.01 %
Sound Contracting LLC(#,^)148 Holmgren Place, Girdwood, AK 99587Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/14/2043187.7 187.7 212.0 0.07 %
OC Helicopters LLC(#,^)19711 Campus Dr Ste 260, Santa Ana, CA 92707Air TransportationTerm LoanPrime plus 2.75%12/13/202868.0 68.0 72.1 0.02 %
The Miller Center for Esthetic Excellence,(#,^)22 Old Short Hills Rd,, Livingston, NJ 07039Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/13/2043378.2 378.2 427.0 0.14 %
Plan B Burger LLC(#,^)484 Farmington Ave, Hartford, CT 06105Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/13/2029812.9 812.9 823.8 0.27 %
Burton Realty Co., Inc dba Anchor Realty, Northeast(#,^)2200 Michener St, Ste 12, Philadelphia, PA 19115Real EstateTerm LoanPrime plus 2.75%12/13/2028173.5 173.5 171.5 0.06 %
Tapia Auto Care, LLC dba Shoreline Quick Lube and Car Wash(#,^)2 Center Rd,, Old Saybrook, CT 06475Repair and MaintenanceTerm LoanPrime plus 2.75%12/13/2043928.0 928.0 1,047.8 0.34 %
Mateo Enterprise Inc dba El Milagro Market(#,^)575 Panama Lane, Bakersfield, CA 93307Food and Beverage Stores Term LoanPrime plus 2.75%12/12/2043114.0 114.0 128.7 0.04 %
Tier1 Solutions LLC(#,^)1000 Essington Rd, Ste 111, Joliet, IL 60435Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/12/20298.2 8.2 8.1 — %
Airstrike Firefighters LLC(#,^)18115 62nd Ave NE, Kenmore, WA 98028Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%12/12/2028987.3 987.3 1,015.3 0.33 %
Ashwood Food Services Inc. dba Jake Rooney's(#,^)119 Brooks Rd, Harwich Port, MA 02646Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/12/2043205.0 205.0 231.4 0.07 %
Behind The Scenes Chicago, LLC dba Paramount Events(#,^)2744 W. Roscoe St., Chicago, IL 60618Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/12/2029124.0 124.0 131.8 0.04 %
Ashwood Food Services, Incorporated dba Jake Rooney's(#,^)119 Brooks Rd, Harwich Port, MA 02646Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/12/202952.5 52.5 53.3 0.02 %
Mateo Enterprise Inc dba El Milagro Market(#,^)575 Panama Lane, Bakerfield, CA 93307Food and Beverage Stores Term LoanPrime plus 2.75%1/12/202946.4 46.4 46.0 0.01 %
Googlyoogly, LLC dba Bi-Rite Supermarket(#,^)10867 W Jefferson Ave, River Rouge, MI 46218Food and Beverage Stores Term LoanPrime plus 2.75%12/11/2043192.8 192.8 217.7 0.07 %
249
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Hilltop Wine Shop, Inc dba Hiltop Wine Shop(#,^)7505 Highland Rd, White Lake, MI 48383Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/11/2043121.6 121.6 137.3 0.04 %
Oregon Medical Training Private Career School Inc.(#,^)1126 Gateway Loop, Ste 108, Springfield, OR 97702Educational ServicesTerm LoanPrime plus 2.75%1/11/202931.0 31.0 30.7 0.01 %
TFE Resources ,LTD(#,^)11 Easter Court Ste G, Owings Mills, MD 21117Utilities Term LoanPrime plus 2.75%1/11/2029449.8 449.8 452.8 0.15 %
Duck's Nuts Inc dba Pet Place Market(#,^)212 Bendigo Blvd. N, North Bend, WA 98045Miscellaneous Store Retailers Term LoanPrime plus 2.75%1/11/202933.6 33.6 34.3 0.01 %
EMES Supply, LLC(#,^)35622 Vine St., EastLake, OH 44095General Merchandise Stores Term LoanPrime plus 2.75%1/11/202997.0 97.0 97.2 0.03 %
White Wilson & Associates LLC(#,^)16238 Louis Ave., South Holland, IL 60473Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/11/204340.4 40.4 45.6 0.01 %
Team Henry, LLC dba Kelly Automotive of Deltona(#,^)1290 Doyle Rd, Deltona, FL 32725Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/2043371.6 371.6 419.5 0.14 %
ZLM Services LLC(#,^)51343 Oro Rd, Shelby Township, MI 33444Administrative and Support ServicesTerm LoanPrime plus 2.75%1/10/202931.0 31.0 30.7 0.01 %
Food Service Industry Consultants Inc.(#,^)1465 Kelly Johnson Blvd, Colorado Springs, CO 80920Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/7/202955.4 55.4 55.0 0.02 %
CET Inc(#,^)4709 N El Capitan Ave. Ste 205, Fresno, CA 93722Truck TransportationTerm LoanPrime plus 2.75%1/6/2029900.4 900.4 910.3 0.29 %
Metro R Services Inc. and Metal & Roof Supplies Inc.(#,^)20 Universal Place, Carlstadt, NJ 07072Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/6/2029160.6 160.6 170.7 0.06 %
Unique Home Solutions Inc. and Unique Home Solutions of Ohio(#,^)5550 Progress Rd, Indianapolis, IN 46241Construction of BuildingsTerm LoanPrime plus 2.75%1/5/2029197.5 197.5 210.0 0.07 %
Levine Daycare Inc dba Kids R Kids(#,^)415 Woodbury Rd, Orlando, FL 32828Social AssistanceTerm LoanPrime plus 2.75%1/5/2029209.0 209.0 212.7 0.07 %
The Altitude Group LLC(#,^)949 A Clint Moore Rd, Boca Raton, FL 33487Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/4/2029108.8 108.8 108.1 0.03 %
Access Staffing, LLC(#,^)360 Lexington Ave 8th Floor, New York, NY 10017Administrative and Support ServicesTerm LoanPrime plus 2.75%1/4/2029150.4 150.4 149.0 0.05 %
York Concrete Corp(#,^)1 Plumb CT., Huntington Station, NY 11746Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/3/2043187.5 187.5 211.6 0.07 %
Swantown Inn and Spa, LLC(#,^)1431 11th Ave SE, Olympia, WA 98501AccommodationTerm LoanPrime plus 2.75%1/3/202910.5 10.5 11.1 — %
Cabrera's Auto Services LLC(#,^)2206 N Central Ave, Chicago, IL 60639Repair and MaintenanceTerm LoanPrime plus 2.75%11/30/204376.9 76.9 86.8 0.03 %
Hernando Beach Motel LLC,The Purple Cow House o APancake AInc.(#,^)4291 Shoal Line Blvd, Hernando Beach, FL 34607AccommodationTerm LoanPrime plus 2.75%11/30/2043213.4 213.4 240.9 0.08 %
Luxury Furniture, Inc.dba Venicasa & Luxe Home Interiors(#,^)13762 W State Rd 84, Davie, FL 33325Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/30/202896.0 96.0 100.9 0.03 %
Microplex Co, Third Market LLC(#,^)244 Spokane Ave, Whitefish, MT 59937Food and Beverage Stores Term LoanPrime plus 2.75%12/30/2028126.6 126.6 125.5 0.04 %
Water Station Holdings LLC(#,^)1104 N Keystone Ave, Indianapolis, IN 46201Nonstore Retailers Term LoanPrime plus 2.75%12/30/2028506.5 506.5 523.4 0.17 %
250
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Tammy's Place LLC(#,^)235 North Mosby Ave, Littleton, NC 27850Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/2044421.3 421.3 475.7 0.15 %
Albert M. Quashie, DDS, PC(#,^)3331 Toledo Terrace Ste 308, Hyattsville, MD 20782Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/29/204361.7 61.7 69.7 0.02 %
Albert M Quashie, DDS, PC(#,^)3331 Toledo Terrace Ste 308, Hyattsville, MD 20782Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/29/202867.2 67.2 69.2 0.02 %
JJB Production LLC(#,^)458 N 7th St., Newark, NJ 07107Administrative and Support ServicesTerm LoanPrime plus 2.75%12/29/20285.6 5.6 5.6 — %
Level Up Gaming, Inc(#,^)1132 Creighton Rd, Pensacola, FL 32504Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%11/28/204385.4 85.4 96.4 0.03 %
True Love Christian Academy LLC(#,^)466 E Raines Rd, Memphis, TN 38109Social AssistanceTerm LoanPrime plus 2.75%12/28/204339.8 39.8 45.0 0.01 %
Extreme Granite Corp(#,^)251 NW 1st St., Deerfield Beach, FL 33441Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/28/2043177.9 177.9 200.8 0.06 %
Sky Wonder Pyrotechnics, LLC dba Sky Wonder Fire and Safety Gear Up(#,^)3626 CR 203, Liverpool, TX 77577Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/28/2043419.9 419.9 474.0 0.15 %
Thames Aquatic Club, LLC(#,^)14 Iron St., Ledyard, CT 06339Educational ServicesTerm LoanPrime plus 2.75%10/21/202936.1 36.1 38.6 0.01 %
Best Global Alternative North, LLC(#,^)69 Lewis Ave, Atlantic Beach, NY 11509Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/21/202829.7 29.7 29.3 0.01 %
BEK Holdings LLC, Veseli Fine Art Galleries, LLC, Trusted.com LLC(#,^)12930 Worldgate Dr, Herndon, VA 20170Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2028977.5 977.5 1,036.6 0.34 %
M.A.W. Enterprises LLC dbaY-Not Pizza(#,^)45 E Main St., New Palestine, IN 46163Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/21/202817.3 17.3 17.6 0.01 %
On Call Electrical of Georgia LLC(#,^)2120 Plaster Bridge Rd NE, Atlanta, GA 30324Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/20/2043623.3 623.3 703.7 0.23 %
Commonwealth Warehouse Inc(#,^)11013 Kenwood Rd., Cincinnati, OH 45242Warehousing and StorageTerm LoanPrime plus 2.75%12/20/2028324.7 324.7 332.8 0.11 %
K & A Automotive Inc(#,^)2070 Nooseneck Hill Rd, Coventry, RI 02816Gasoline Stations Term LoanPrime plus 2.75%11/19/2043115.9 115.9 130.8 0.04 %
High Desert Transport, Inc.(#,^)2973 Via Meridiana, Henderson, NV 89012Truck TransportationTerm LoanPrime plus 2.75%12/19/202857.3 57.3 57.7 0.02 %
Cali Fit Meals(#,^)3450 East Orangethrope Ave, Anaheim, CA 92806Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/202848.0 48.0 47.5 0.02 %
Cocomo Joe's LLC(#,^)3949 New Rd, Youngstown, OH 44515Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/20280.5 0.5 0.5 — %
Saunders Management LLC dba Northern Light Espresso Bar and Cafe(#,^)536 Spruce St, Scranton, PA 18503Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/16/202831.0 31.0 32.9 0.01 %
Beau & HB Inc dba Beau's Billiard, Bowling & Arcade(#,^)100 Village Rd, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/16/202933.1 33.1 34.8 0.01 %
Beau & HB Inc dba Beau's Billard, Bowling & Arcade(#,^)100 Village RD, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/16/204366.5 66.5 75.0 0.02 %
Schafer Fisheries Inc.(#,^)21985 Waller Rd, Fulton, IL 61252Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%11/14/202841.2 41.2 43.7 0.01 %
251
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
US Dedicated LLC(#,^)13410 SE 26th Circle, Vancouver, WA 98683Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/2028360.8 360.8 359.5 0.12 %
Salon Femi LLC(#,^)1107 Broad St., Bloomfield, NJ 07003Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/9/20285.8 5.8 6.0 — %
McNeill Stokes(#,^)5372 Whitehall Pl SE, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/8/20285.3 5.3 5.2 — %
Vancole Investments, Inc. dba Smoothie King #913(#,^)876 Virginia Ave, Hapeville, GA 30354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/7/2044397.1 397.1 448.3 0.14 %
Peter Thomas Roth Labs LLC and June Jacobs Labs, LLC(#,^)460 Park Ave, Floor 16, New York, NY 10022Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/1/2028249.4 249.4 246.5 0.08 %
Modutech Marine Inc(#,^)2218 Marine View Dr, Tacoma, WA 98422Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/1/2028287.9 287.9 305.4 0.10 %
Abington Caregivers, LLC(#,^)7804 Montgomery Ave Unit 3-6, Elkins Park, PA 19027Social AssistanceTerm LoanPrime plus 2.75%11/30/2043119.5 119.5 134.9 0.04 %
Steele Security, LLC dba Signal 88 Security of San Antonio(#,^)11230 West Ave, Ste 2210, San Antonio, TX 78213Administrative and Support ServicesTerm LoanPrime plus 2.75%10/31/202883.6 83.6 83.2 0.03 %
C.A.T.I. Armor, LLC(#,^)435 Packard Hwy, Charlotte, MI 48813Apparel ManufacturingTerm LoanPrime plus 2.75%10/30/2043199.4 199.4 225.1 0.07 %
UK, LLC dba Pita Pit(#,^)20038 West Valley HWY, Kent, WA 98032Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/202948.0 48.0 48.2 0.02 %
Organic Juice Bar Wexford LLC dba The OJB The Organic Juice Bar(#,^) 1500 Village Run Rd, Wexford, PA 15090Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/202963.0 63.0 63.0 0.02 %
Ohio Gold & Pawn LLC, Our New Building LLC and Corey Fischer(#,^)3970 Everhard Rd, NW, Canton, OH 44709Miscellaneous Store Retailers Term LoanPrime plus 2.75%10/26/2028111.6 111.6 118.3 0.04 %
The Face Place, LLC dba Classic Aesthetics(#,^)4268 Cahaba Heights CT Ste 115, Vestavia, AL 35243Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/25/20287.6 7.6 7.6 — %
Bellas Sports Pub, Inc dba Brewmasters Tavern(#,^)1152 Main St., Coventry, RI 02816Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/24/204365.7 65.7 74.2 0.02 %
Shovels and Whiskey LLC(#,^)446 SE Washington St, Hillsboro, OR 97123Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%10/16/204372.5 72.5 81.9 0.03 %
Hackstaff Restaurants LLC(#,^)248 W 1st. St. Ste 201, Reno, NV 89501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/2029134.1 134.1 134.6 0.04 %
Cater To You Agency, LLC, dba Cater To You(#,^)1319 Sherrick Rd SE, Canton, OH 44707Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/11/204321.3 21.3 24.1 0.01 %
Faydon, Inc(#,^)1905 W Baker St., Ste A, Plant City, FL 33567Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%10/10/202857.0 57.0 60.5 0.02 %
MB Click It Photography, LLC(#,^)100 Manchester Ranch Place, Aynor, SC 29511Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/10/204336.3 36.3 41.0 0.01 %
Wellfleet Consulting Inc.(#,^)2275 Research Blvd Ste # 500, Rockville, MD 20850Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/9/202811.4 11.4 11.2 — %
Apps Inc and Market Share Inc.(#,^)80 Main St., Old Saybrook, CT 06475TelecommunicationsTerm LoanPrime plus 2.75%10/5/202869.9 69.9 69.1 0.02 %
Moore Care LLC(#,^)8550 United Plaza Blvd., Baton Rouge, LA 79809Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/4/202839.4 39.4 39.0 0.01 %
252
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
SwabCo Inc.(#,^)2341 East Ellis St., Leveland, TX 79336Support Activities for MiningTerm LoanPrime plus 2.75%9/28/2043908.2 908.2 1,025.3 0.33 %
La Venezia Corporation dba La Venezia Ballroom & Robertos Lounge(#,^)4646 SE 11th Place, Cape Coral, FL 33904Food and Beverage Stores Term LoanPrime plus 2.75%9/28/2043313.0 313.0 353.3 0.11 %
Throop Family Holdings, Inc(#,^)7130 Crater Lake, White City, OR 97603Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/28/2043607.7 607.7 686.1 0.22 %
Burd Brothers Inc.(#,^)4005 Borman Dr, Batavia, OH 45103Truck TransportationTerm LoanPrime plus 2.75%9/28/2028385.1 385.1 397.8 0.13 %
A-1 Van Sevices, Inc.(#,^)154 Sandy Creek Rd, Verona, PA 15147Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/28/202880.1 80.1 83.4 0.03 %
JAM Media Solutions LLC(#,^)11 Netherwood Terrace, East Orange, NJ 07017Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/28/2028768.2 768.2 768.2 0.25 %
Rami Technology USA, LLC(#,^)10400 NW 33rd St., Miami, FL 33172Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%9/28/2028135.3 135.3 134.1 0.04 %
Blackwater Diving, LLC(#,^)112 Forrest Rd, Morgan City, LA 70380Support Activities for MiningTerm LoanPrime plus 2.75%9/27/2028599.8 599.8 600.2 0.19 %
Blue Seven, LLC(#,^)11111 San Jose Blvd, Ste 70, Jacksonville, FL 32223Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/27/202943.8 43.8 44.3 0.01 %
TFR Transit Inc, The Free Ride Inc, South Florida Free Ride Inc.(#,^)777 South Flagler Dr Ste 800W, West Palm Beach, FL 33401Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/27/202893.7 93.7 95.9 0.03 %
Quality Electric & Data(#,^)85 Franklin Rd Unit 9B, Dover, NJ 07801Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/202874.6 74.6 77.1 0.02 %
LG Law Center, Inc(#,^)15452 Amar Rd, La Puente, CA 91744Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/202811.2 11.2 11.3 — %
Quality Electric & Data Inc.(#,^)85 Franklin RD Unit 9B, Dover, NJ 07801Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/2043122.5 122.5 138.3 0.04 %
Action Barricade Company, LLC and Barricade Holding LLC(#,^)1802 N 27th Ave, Phoenix, AZ 85009Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/27/2028228.8 228.8 236.8 0.08 %
Dentistry By Design, P.C(#,^)315 Walt Whitman Rd Ste 204-205, South Huntington, NY 11746Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/26/202811.2 11.2 11.2 — %
US Shipping Trans Inc, Esteem Trucking Inc(#,^)16102 Sweetwater Court, Lathrop, CA 95330Truck TransportationTerm LoanPrime plus 2.75%9/26/2028610.4 610.4 638.7 0.21 %
Ace Auto Recovery, Inc.(#,^)1209 North Lane Ave, Jacksonville, FL 32254Administrative and Support ServicesTerm LoanPrime plus 2.75%9/26/2043150.8 150.8 170.3 0.06 %
Above and Beyond Preschool LLC(#,^)672-678 Camellia Dr, Royal Palm Beach, FL 33411Social AssistanceTerm LoanPrime plus 2.75%9/26/2043521.9 521.9 589.3 0.19 %
LTS School, Inc.(#,^)3731 NW 9th Ave, Deerfield Beach, FL 33064Educational ServicesTerm LoanPrime plus 2.75%9/26/204395.5 95.5 107.8 0.03 %
Bhatti LLC, Bhatti 3 LLC, dba Auntie Annes(#,^)7219 Silver Mist Ave, North Chesterfield, VA 23237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/25/202893.7 93.7 94.2 0.03 %
Phillip Ramos Upholstery Inc.(#,^)3835 Elm St., Denver, CO 80207Repair and MaintenanceTerm LoanPrime plus 2.75%9/24/202811.6 11.6 11.5 — %
DC Lofty, LLC,(#,^)301 I St. NW, Washington, DC 20001AccommodationTerm LoanPrime plus 2.75%9/21/202816.9 16.9 16.7 0.01 %
253
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
The Garden Club, LLC(#,^)125 South DuBuque St., Iowa City, IA 52240Miscellaneous Store Retailers Term LoanPrime plus 2.75%9/21/20285.0 5.0 4.9 — %
MillClem Corporation & Monticello Corporation(#,^)16660 Oak St., Dillwyn, VA 22936Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%9/21/2043312.4 312.4 352.7 0.11 %
Southern Services and Equipment, Inc.(#,^)321 Bayou Rd, Saint Bernard, LA 70085Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/2043200.3 200.3 226.1 0.07 %
Southern Services and Equipment, Inc(#,^)321 Bayou Rd, Saint Bernard, LA 70085Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/2028325.7 325.7 335.0 0.11 %
Watearth Inc(#,^)445 South Figuerora Ste 3128, Los Angeles, CA 90071Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/19/202816.9 16.9 16.7 0.01 %
Dash Point Distributing LLC, Dash Point Logistics LLC and Sara(#,^)35000 Pacific Hwy, Federal Way, WA 98003Truck TransportationTerm LoanPrime plus 2.75%9/19/2028406.5 406.5 401.0 0.13 %
Super Station Inc(#,^)8855 N Country Rd 25A, Pique, OH 45356Gasoline Stations Term LoanPrime plus 2.75%9/19/2043197.6 197.6 223.1 0.07 %
M&P RV LLC dba M&P RV(#,^)10 Century Lane, Dillsburg, PA 17019Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%9/19/2043100.1 100.1 113.1 0.04 %
C3 Capital, Inc(#,^)10010 N. Hampton Cove Lane, Indianapolis, IN 46236Nonstore Retailers Term LoanPrime plus 2.75%9/19/2028475.0 475.0 493.8 0.16 %
DB Talak LLC(#,^)2018 SE 6th Ave, Portland, OR 97214Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/18/2043147.2 147.2 166.2 0.05 %
E & G Enterprises LLC dba Comfort Keepers(#,^)220 Middle St., Franklin, VA 23851Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/18/20284.5 4.5 4.4 — %
Pastel de Feira LLC dba Original Pastel De Feira(#,^)4244 Pine Ridge CT, Weston, FL 33331Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/20284.6 4.6 4.6 — %
Glendale Grill Inc, Roddy Cameron, Jr & John K Symasko(#,^)65 Glendale St., Easthampton, MA 01027Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/2043165.1 165.1 186.4 0.06 %
Culmination Motorsports, Inc.(#,^)160 W 91st Ave, Unit B, Anchorage, AK 99515Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/2043527.8 527.8 595.9 0.19 %
Baby's on Broadway LLC(#,^)47 East Broadway, Little Falls, MN 56345Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%9/14/202837.5 37.5 38.3 0.01 %
L&M Equipment, Inc(#,^)Mile 2.5 Alaska Peninsula Hwy, Naknek, AK 99633Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/14/20431,179.2 1,179.2 1,331.3 0.43 %
QBS, LLC dba Sterling Optical Exton(#,^)211 W Lincoln Hwy, Exton, PA 19341Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/14/202860.9 60.9 60.4 0.02 %
J & C Garcia LLC(#,^)26 Broad St., Alexander City, AL 35010Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/14/202855.5 55.5 55.4 0.02 %
Innovim LLC(#,^)6401 Golden Triangle Dr Ste 200, Greenbelt, MD 20770Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/14/202882.5 82.5 81.3 0.03 %
Underground Productions LLC dba 31 Escape(#,^)1731 Decatur Hwy, Fultandale, AL 35068Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/13/204393.2 93.2 105.2 0.03 %
Innovative Network Solutions Inc(#,^)31567 West 10 Mile Rd, Farmington Hills, MI 48336Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/13/202894.2 94.2 94.3 0.03 %
Rancho Paving, Inc(#,^)339 Cypress Lane, El Cajon, CA 92020Repair and MaintenanceTerm LoanPrime plus 2.75%9/10/2028146.2 146.2 153.0 0.05 %
254
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Asheville Spine and Nerve Institute PC(#,^)190 Broadway St Ste 205, Asheville, NC 28801Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/7/204384.7 84.7 95.6 0.03 %
MurlinComputerCompany LLC dba Murlin Computer,(#,^)1014 Thompson Blvd Ste 38B, Sedalia, MO 65301Repair and MaintenanceTerm LoanPrime plus 2.75%9/7/202811.7 11.7 11.7 — %
Pelican Executives Suites, LLC(#,^)2200 Colorado Ave Sutie 131, Santa Monica, CA 90404Administrative and Support ServicesTerm LoanPrime plus 2.75%9/7/2028262.6 262.6 259.1 0.08 %
Pool Guard of LA(#,^)10866 Washington Blvd, Apartment #24, Culver City, CA 90232Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/7/202816.8 16.8 16.7 0.01 %
Living Centers Inc. dba Veranda House Senior Living(#,^)5129 E 5th St, Katy, TX 77493Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%8/31/2043397.6 397.6 448.9 0.15 %
XL Soccer World Orlando. LLC, XL Soccer World Saco LLC, XL Sports Worl(#,^)825 Courtland St., Orlando, FL 32804Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/30/2043423.8 423.8 478.5 0.15 %
Extreme Engineering, Inc.(#,^)598 Oliver Dr, Troy, MI 48084Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/29/202892.8 92.8 91.9 0.03 %
Kotyark LLC dba Gibsonton Motel(#,^)11545 US Hwy 41S, Gibsonton, FL 33534AccommodationTerm LoanPrime plus 2.75%8/29/204377.7 77.7 87.7 0.03 %
Greenfield Hill Wines & Spirits, LLC(#,^)65 Hillside Rd, Fairfield, CT 06824Food and Beverage Stores Term LoanPrime plus 2.75%8/29/202868.3 68.3 67.8 0.02 %
ARVAmethod LLC(#,^)516 N Ogden Ave # 150, Chicago, IL 60642Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/29/20281.8 1.8 1.8 — %
Graphish Studio, Inc.(#,^)231 Main St., Stamford, CT 06901Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/28/20285.6 5.6 5.5 — %
Atlas Geo-Constructors LLC(#,^)3466 Thomasville Rd Winston, Winston-Salem, NC 27107Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/24/202860.0 60.0 62.9 0.02 %
Finn & Emma LLC(#,^)1275 Bloomfield Ave Building 5 Unit 28B, Fairfield, NJ 07004Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%8/24/202892.6 92.6 91.3 0.03 %
Montana Life Group, LLC(#,^)8 N 9th Ave, Bozeman, MT 59715Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/24/20285.6 5.6 5.5 — %
Wearware Inc dba FlyWire Cameras(#,^)2204 Blackmoor Park Lane, Lexington, KY 40509Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%8/24/202816.7 16.7 16.6 0.01 %
Zash LLC dba Papa Murphy's take 'N' Bake Pizza(#,^)2303 White Bear Ave, Maplewood, MN 55025Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/23/202831.3 31.3 31.8 0.01 %
Buffalo Biodiesel Inc.(#,^)225 Sawyer Ave, Tonawanda, NY 14150Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%8/21/2028994.6 994.6 1,040.7 0.34 %
GeoTek Alaska, Inc(#,^)2756 Commercial Dr, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/17/2044120.4 120.4 135.9 0.04 %
ATI Jet, Inc.(#,^)7007 Boeing Dr, El Paso, TX 79925Air TransportationTerm LoanPrime plus 2.75%8/16/2028148.7 148.7 154.0 0.05 %
Lewins Law, P.C.(#,^)7920 Belt Line Rd Ste 650, Dallas, TX 75254Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/16/202813.4 13.4 13.2 — %
GS Bath Inc(#,^)5335 E Kaviland Ave, Fresno, CA 93725Truck TransportationTerm LoanPrime plus 2.75%8/15/2028423.2 423.2 444.8 0.14 %
255
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Pamletics LLC dba F45(#,^)22015 IH 10 West, San Antonio, TX 78257Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/14/202833.8 33.8 34.2 0.01 %
David D. Sullivan dba DMS Construction(#,^)6400 Charwood Place, Bakersfield, CA 93306Specialty Trade ContractorsTerm Loan6%8/9/202810.3 10.3 9.4 — %
Crystal Shores Inc. dba Shorewood Laundromat(#,^)700 West Jefferson St., Shorewood, IL 60404Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/9/202816.6 16.6 16.7 0.01 %
Palanuk & Associates, Inc.dba Wolfpk(#,^)28110 SE Fern Dr, Boring, OR 97009Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/8/202876.1 76.1 75.4 0.02 %
Mercedes Cab Company, Inc(#,^)35 Alden St., Province Town, MA 02657Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%8/7/202895.2 95.2 95.5 0.03 %
CJNR, LLC(#,^)208 East Main St., Elma, WA 98541AccommodationTerm LoanPrime plus 2.75%8/7/2043114.7 114.7 129.5 0.04 %
Ron's Pool and Spa Services LLC(#,^)1419 NE 30th St., Pompano, FL 33064Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/3/20282.8 2.8 2.7 — %
Alma Jacobsen,ODD Family Eye Care & Contact Lens LLC(#,^)1700 Nottingham Way Ste 12A, Hamilton, NJ 08619Health and Personal Care Stores Term LoanPrime plus 2.75%8/3/202844.7 44.7 44.5 0.01 %
20th Century Lanes, Inc dba West Seattle Bowl(#,^)4505 39 Ave SW, Seattle, WA 98116Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/3/202887.1 87.1 90.7 0.03 %
Millwork Unlimited, Incorporated(#,^)8264 Pine Cay Rd, Wellington, FL 33414Wholesale Electronic Markets and Agents and Brokers Term LoanPrime plus 2.75%8/2/20285.6 5.6 5.5 — %
Accel Compression Inc., Accel Workover Services, Inc(#,^)4500 S Country Rd, Odessa, TX 79765Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/1/2043287.8 287.8 324.9 0.11 %
Accel Compression Inc., Accel Workover Services Inc. dba Mica Tool(#,^)4500 S. Country Rd 1310, Odessa, TX 79765Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/1/2028359.7 359.7 372.9 0.12 %
Samy Optical LLC dba Site for Sore Eyes(#,^)1350 Travis Blvd Ste 1507A, Fairfield, CA 94533Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/1/202872.2 72.2 71.2 0.02 %
CSL Services Inc(#,^)7905 Browning Rd, Ste.312,314,316, Pennsauken, NJ 08109Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/27/2028402.7 402.7 409.8 0.13 %
Nunez Enterprises Corporation dba La Casa(#,^)3330 Piedmont RD NE, Atlanta, GA 30305Miscellaneous Store Retailers Term LoanPrime plus 2.75%7/26/20285.0 5.0 4.9 — %
Relevant Elephant ,LLC(#,^)ON320 Woodvale St, Winfield, IL 60190Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/25/20284.0 4.0 4.0 — %
TR Nails, LLC dba Simple Nails(#,^)158 Great Rd, Bedford, MA 01730Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/20/202845.9 45.9 45.3 0.01 %
674 Club LLC(#,^)674 N Orleans, Chicago, IL 60654Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/2043253.2 253.2 285.9 0.09 %
ZA Trucking LLC(#,^)5945 York Way, East Lansing, MI 48823Truck TransportationTerm LoanPrime plus 2.75%7/17/20283.8 3.8 4.1 — %
Smart-tel Communications LLC(#,^)9720 W. Colfax Ave Ste 100, Lakewood, CO 80215Administrative and Support ServicesTerm LoanPrime plus 2.75%7/13/202815.5 15.5 16.4 0.01 %
Mother's Cantina LLC dba Mother's Cantina(#,^)2810 Philadephia Ave Unit #10, Ocean City, MD 21842Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/13/202850.6 50.6 50.3 0.02 %
HQTRONICS LLC(#,^)10135 South Roberts Rd Ste 209, Palos Hills, IL 60465Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%7/13/202846.0 46.0 45.3 0.01 %
256
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Smoove Move Productions, LLC dba Smoove Move Productions(#,^)3932 North 16th St., Omaha, NE 68110Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%7/12/20287.8 7.8 8.3 — %
Vital Inspection Professionals, Inc. dba VIP(#,^)180 Airpark Industrial Rd, Alabaster, AL 35007Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/3/2028228.9 228.9 237.3 0.08 %
US Cargo Express, LLC(#,^)4735 22 Mile Rd, Utica, MI 48317Support Activities for TransportationTerm LoanPrime plus 2.75%7/2/204379.4 79.4 89.6 0.03 %
M J Losito Electrical Contractor's, Inc(#,^)98 Wooster St., Bethel, CT 06801Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/202816.7 16.7 17.4 0.01 %
Bio-Haz Solutions, Inc.(#,^)23 Tonoli Rd, Nesquehoning, PA 18240Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/29/2044350.6 350.6 395.8 0.13 %
Bio-Haz Solutions, Inc(#,^)23 Tonolli Rd, Nesquehoning, PA 18240Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/29/2029196.0 196.0 209.0 0.07 %
Critter Cabana, LLC dba Critter Cabana(#,^)516 East Main St., Newberg, OR 97132Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/28/202849.0 49.0 50.4 0.02 %
Corptek Solutions LLC(#,^)2363 N. Hwy # 287 Ste # 111, Mansfield, TX 76063Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/28/202834.6 34.6 35.5 0.01 %
Nick's Country Kitchen, LLC(#,^)3 Flanders RD, Building #1, Bethlehem, CT 06751Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/202816.4 16.4 16.9 0.01 %
Bengals, Inc. dba Royal Liquor Mart(#,^)3714 E State St., Rockford, IL 61108Food and Beverage Stores Term LoanPrime plus 2.75%6/26/204399.8 99.8 112.6 0.04 %
Peter Thomas Roth Labs LLC, & June Jacobs Labs, LLC,(#,^)460 Park Ave, Floor 16, New York, NY 10022Health and Personal Care Stores Term LoanPrime plus 2.75%6/26/2028673.8 673.8 697.6 0.23 %
Sun Pools, Inc(#,^)130 Holiday LN, Albany, KY 42602Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%6/25/2043287.3 287.3 324.4 0.10 %
Sun Pools, Inc dba Sun Fiberglass Pools(#,^)130 Holiday Lane, Albany, KY 42602Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%6/25/2028569.2 569.2 590.3 0.19 %
DPF Filters Inc.(#,^)2832 Golden State Blvd., Madera, CA 93637Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/25/202849.6 49.6 51.3 0.02 %
Martha Beauty Supply And Braiding, Inc.(#,^)538 E Boughton Rd, Bolingbrook, IL 60440Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/22/2043130.7 130.7 147.6 0.05 %
Sushi Prime, LLC and Vasilia Investments(#,^)32 SE 2nd Ave, Delray Beach, FL 33444Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/22/2028201.8 201.8 210.5 0.07 %
The Desert House Assisted Living ,LLC(#,^)11055 E Grove St, Mesa, AZ 85208Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/22/204373.9 73.9 83.4 0.03 %
York Woods Tree Service, LLC dba York Woods Tree and Products, LLC(#,^)300 Harold Dow Hwy, Elliot, ME 03903Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/21/2043228.6 228.6 258.1 0.08 %
Independent Life LLC(#,^)4955 S Durango Dr, Ste124, Las Vegas, NV 89113Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/21/202813.5 13.5 13.9 — %
York Woods Tree Service, LLC dba York Woods Tree and Products, LLC(#,^)300 Harold Dow Hwy, Eliot, ME 03903Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/21/2028103.8 103.8 109.6 0.04 %
Colovic Hackettstown Dairy LLC(#,^)22 Route 57, Hackettstown, NJ 07840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/2043258.0 258.0 291.3 0.09 %
Mid America Motorworks, Inc and Yager Holdings L.P(#,^)2900 North 3rd St., Effingham, IL 62401Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/19/2043266.9 266.9 301.3 0.10 %
257
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Jones Roger Sherman Inn, Inc.(#,^)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/2028345.5 345.5 367.6 0.12 %
Allen Theatre and Back Stage Cafe LLC(#,^)36 East. Main St., Annville, PA 17003Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%6/18/2043118.3 118.3 133.6 0.04 %
Schumacker Recreation, LLC(#,^)5325 S University Dr, Davie, FL 33328Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/18/2028109.4 109.4 116.4 0.04 %
Softrol Systems Inc dba Softrol Systems(#,^)1100 Northpoint Pkwy SE, Acworth, GA 30102Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/15/2028642.2 642.2 662.1 0.21 %
Dianne Williams and Louis Williams dba Sweetlips Store(#,^)3870 Sweet Lips Rd, Henderson, TN 38340Food and Beverage Stores Term LoanPrime plus 2.75%6/15/204343.4 43.4 49.0 0.02 %
Oil Palace Inc.(#,^)10408 Hwy 64 East, Tyler, TX 75707Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/15/2043136.6 136.6 154.2 0.05 %
Venzix Ventures Inc. dba Venzix(#,^)750 Legend Oak Dr, Fountain, CO 80817Nonstore Retailers Term LoanPrime plus 2.75%6/15/20288.1 8.1 8.6 — %
Tele Tax Express Inc(#,^)166 Getty Ave, Paterson, NJ 07503Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/202816.4 16.4 17.3 0.01 %
E & J Sims Co. LLC(#,^)28 Broad St., Bloomfield, NJ 07003Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/14/202836.4 36.4 37.7 0.01 %
Team Sandy Blanton Realty, Inc(#,^)1225 West Gregory St, Pensacola, FL 32502Real EstateTerm LoanPrime plus 2.75%6/14/204391.5 91.5 103.3 0.03 %
Mastiff Studios LLC(#,^)2919 West Colorado Ave, Colorado Springs, CO 80904Educational ServicesTerm LoanPrime plus 2.75%6/13/204340.1 40.1 45.3 0.01 %
Camp K-9 Pet Resort & Spa, Inc.(#,^)18501 Le Claire Ave, Tinley Park, IL 60478Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/8/20286.0 6.0 6.2 — %
Icebox Cafe, L.C. and Icebox Cafe at Doral,LLC(#,^)1855 Purdy Ave, Miami Beach, FL 33139Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/8/2028631.9 631.9 652.2 0.21 %
Beyond Grooming LLC and Michelle McWatters(#,^)1200 Old Martindale Rd, San Marcos, TX 78666Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/8/204340.4 40.4 45.6 0.01 %
Hardway Inc and A F C Leasing, Inc(#,^)12533 S. 73rd East Place, Bixby, OK 74008Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/6/2028234.2 234.2 240.5 0.08 %
Sowells Consulting Engineers, LLC(#,^)13430 Northwest Freeway #260, Houston, TX 77040Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/6/202816.7 16.7 17.2 0.01 %
Funtime ,LLC dba Indoor Playgrounds International(#,^)13200 West Foxfire Dr Ste 144, Surprise, AZ 85378Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/5/2028206.6 206.6 212.2 0.07 %
SSD Designs LLC(#,^)10840 Bay Hill Club Dr, Charlotte, NC 28277Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/5/202859.1 59.1 60.8 0.02 %
Mastrocinque Restaurant Management Company LLC dba Santionii's(#,^)3535 Hwy 17 Unit 14 &15, Fleming Island, FL 32003Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/1/202845.6 45.6 48.5 0.02 %
BTD Feed & Nutrition, LLC dba Thomaston Feed Cheshire(#,^)943 South Main St., Cheshire, CT 06410Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/1/202832.9 32.9 33.8 0.01 %
Awan Business Management Group LLC, Awan Sign Company LLC (#,^)14429 South Wallin Dr, Plainfield, IL 60544Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/31/2043258.8 258.8 292.1 0.09 %
258
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Crowley Ventures, LLC(#,^)665 Worthington Rd, Westerville, OH 43082Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/202853.8 53.8 55.5 0.02 %
Starship, LLC dba Tint World Smyrna(#,^)2274 S Atlanta Rd SE, Smyrna, GA 30080Repair and MaintenanceTerm LoanPrime plus 2.75%5/25/204392.4 92.4 104.3 0.03 %
Adow Pools LLC(#,^)393 Glenbrook Rd, Stamford, CT 06906Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/2028125.4 125.4 129.7 0.04 %
Ocean Breeze Holdings, LLC, Ocean Beach Resort LLC & Ocean Breeze(#,^)3 Williams Ave, Mystic, CT 06355AccommodationTerm LoanPrime plus 2.75%5/25/20431,245.1 1,245.1 1,405.7 0.45 %
Broadalbin Properties LLC dba Broadalbin Hotel & 1854 Pub & Eatery(#,^)59 West Main St, Broadalbin, NY 12025AccommodationTerm LoanPrime plus 2.75%10/25/2043191.2 191.2 215.9 0.07 %
Dream Spa LLC and Dream Spa Greenwich LLC(#,^)1220 Post Rd East, Westport, CT 06880Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/202878.2 78.2 80.6 0.03 %
DMA Equipment LLC(#,^)700 Lee St., Elk Grove Village, IL 60007Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/24/2043251.5 251.5 284.0 0.09 %
Chem-Flotronics, Inc.(#,^)195 Paterson Ave, Little Falls, NJ 07424Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%5/22/202872.1 72.1 74.5 0.02 %
Mark A Espinoza, DDS PLLC dba Central Dental Care(#,^)9315 N Central Ave, Phoenix, AZ 85020Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/18/202845.5 45.5 46.7 0.02 %
Clore Construction LLC(#,^)21220 FM 1420, Harlingen, TX 78550Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%5/16/2028107.9 107.9 112.6 0.04 %
Joshua One Limited Liability Company dba Genesis Personal Fitness(#,^)28 North State St. Unit 100, Newtown, PA 18940Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/16/2043301.0 301.0 339.8 0.11 %
James T. Hendel dba Autotexx Mobile Auto Repair(#,^)5857 Hwy101 North, Rockmart, GA 30153Repair and MaintenanceTerm LoanPrime plus 2.75%5/15/20285.4 5.4 5.8 — %
Fireplace Outlet Inc(#,^)8216 Main St., Williamsville, NY 14221Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%5/15/202813.1 13.1 13.9 — %
Daniel Woodward, DC PLLC dba Doc's Body Shop(#,^)3084 N Goliad St., Ste 114, Rockwall, TX 75087Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/11/202824.5 24.5 25.1 0.01 %
Circle and Square, Inc dba Stamford Kumon(#,^)50 Forest St. Ste 902, Stamford, CT 06901Educational ServicesTerm LoanPrime plus 2.75%5/11/202833.2 33.2 34.1 0.01 %
Baby Gentry's Childcare & Learning Academy(#,^)4203 Shenandoah Dr, Dayton, OH 45417Social AssistanceTerm LoanPrime plus 2.75%5/10/20288.1 8.1 8.3 — %
Buy Gitomer Inc., Gitgo LLC.,GitGo Archives, LLC(#,^)310 Arlington Ave Unit 329, Charlotte, NC 28203Educational ServicesTerm LoanPrime plus 2.75%5/9/2043680.4 680.4 768.2 0.25 %
Schmaltz Operations LLC dba Companion Camp(#,^)3408 Castle Rock Farm Rd, Pittsboro, NC 27312Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/7/202843.3 43.3 45.5 0.01 %
Container Shipping, LLC(#,^)533 Nova Rd Ste 213B, Ormond Beach, FL 32174Support Activities for TransportationTerm LoanPrime plus 2.75%5/4/202836.1 36.1 37.0 0.01 %
Wilbur Standford Jr Trucking and Excavating, LLC(#,^)7505 North Chases Lake Rd, Watson, NY 13343Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/3/2028173.1 173.1 183.1 0.06 %
Olmsted LLC and 626 Van LLC dba Maison Yaki(#,^)659 Vanderbilt Ave, Brooklyn, NY 11238Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/1/2029182.0 182.0 189.6 0.06 %
259
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Brenden Kehren Development LLC(#,^)14689 Gemara Rd, Sparta, WI 54656Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/20282.1 2.1 2.2 — %
Metropolitan Solutions Inc.(#,^)1420 Chestnut St., Portsmouth, VA 23704Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/2043165.9 165.9 187.3 0.06 %
Corona Dance, LLC dba Huracan Dance Studio(#,^)480 West Main St., Stamford, CT 06902Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%4/30/20288.4 8.4 8.6 — %
Saltamontes Tire Company, LLC(#,^)1955 Boston Ave, Brodgeport, CT 06604Repair and MaintenanceTerm LoanPrime plus 2.75%4/30/204395.9 95.9 108.3 0.04 %
Sunlinc Inc(#,^)170 Canterbury Court, East Windsor, NJ 08520Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/20287.0 7.0 7.1 — %
Little Angels Daycare and Learning Center LLC(#,^)4551 Summit Blvd, West Palm Beach, FL 33415Social AssistanceTerm LoanPrime plus 2.75%4/27/2043150.4 150.4 169.8 0.05 %
Rory James Contracting LLC(#,^)33 Bennett Place, Amityville, NY 11701Construction of BuildingsTerm LoanPrime plus 2.75%4/27/202811.5 11.5 11.8 — %
Kastoria Inc. dba Bantam Pizza(#,^)768 Bantam Rd, Bantam, CT 06750Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/202810.7 10.7 11.0 — %
RWT Corporation dba Welding Works(#,^)32 New Rd, Madison, CT 06443Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/26/2043199.3 199.3 225.0 0.07 %
LMH Optics LLC dba Sterling Optical(#,^)1272 Smallwood Dr West, Waldorf, MD 20603Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/26/202835.7 35.7 36.7 0.01 %
K&S Hardware LLC(#,^)1865 W Wayzata Blvd, Long Lake, MN 55356Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%4/26/202816.1 16.1 16.5 0.01 %
Pledge 4 Hope LLC(#,^)53 Bayberry Loop South, Purvis, MS 39475Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%4/26/202810.1 10.1 10.3 — %
RWT Corporation dba Welding Works(#,^)32 New Rd, Madison, CT 06443Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/26/2028304.8 304.8 317.8 0.10 %
Matrix Z, LLC(#,^)800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%4/26/202865.3 65.3 69.0 0.02 %
Joe & Sons Service, Inc(#,^)855 Atwood Ave, Cranston, RI 02920Repair and MaintenanceTerm LoanPrime plus 2.75%4/24/202873.8 73.8 78.5 0.03 %
Spitnale's Garage LLC(#,^)3761 Mahoning Ave, Youngstown, OH 44515Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/204356.5 56.5 63.8 0.02 %
Just for Boats LLC(#,^)459 Dupre Rd, McClellanville, SC 29458Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/204316.5 16.5 18.6 0.01 %
Rosemarie Products Company LLC(#,^)5400 Crooked Tree Dr, Mason, OH 45040Health and Personal Care Stores Term LoanPrime plus 2.75%4/18/202810.7 10.7 11.0 — %
Veterinary Preventive Care, LLC(#,^)945 Riverview Ct, Xenia, OH 45385Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/18/202833.4 33.4 34.7 0.01 %
A New Dawn Psychotherapy Associates, LLC(#,^)308 E Broad St, Bethlehem, PA 18018Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/18/204381.9 81.9 92.5 0.03 %
Southern HVAC LLC(#,^)119 Ouachita 212, Camden, AZ 71701Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/204321.1 21.1 23.8 0.01 %
Southern HVAC LLC(#,^)119 Ouachita 212, Camden, AR 71701Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/202828.2 28.2 29.6 0.01 %
Southern Oaks Athletic Club, LLC(#,^)15253 Shenandoah Ave, BATON ROUGE, LA 70817Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/17/2043343.3 343.3 387.6 0.13 %
260
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Patricia A. Freeman & Samuel C. Freeman dba Teenas Pizza(#,^)35 E Main St., Pekin, IN 47165Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/13/204339.1 39.1 44.2 0.01 %
Precision Components Group Inc(#,^)190 Doty Circle, West Springfield, MA 01089Miscellaneous ManufacturingTerm LoanPrime plus 2.75%4/11/202816.0 16.0 16.9 0.01 %
Sexy Nails Center LLC(#,^)57 Passaic St., Garfield, NJ 07026Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/10/2043189.5 189.5 214.0 0.07 %
Mark Baker(#,^)1653 Evalie Dr, Fairfield, OH 45014Truck TransportationTerm LoanPrime plus 2.75%4/9/20287.0 7.0 7.3 — %
Innovation Transport LLC(#,^)1 International Blvd, Ste 400, Mahwah, NJ 07495Truck TransportationTerm LoanPrime plus 2.75%4/6/202837.1 37.1 39.0 0.01 %
Shree Lakshminarayyn Grocery Stores LLC(#,^)3307 Charles St., Rockford, IL 61108Gasoline Stations Term LoanPrime plus 2.75%4/5/2043112.3 112.3 126.8 0.04 %
Newsome Mobile Notary LLC(#,^)8153 12th Ave SW, Seattle, WA 98106Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/5/20283.7 3.7 3.8 — %
Master Roofing and Siding Inc.(#,^)1 Paragon Dr # 122, Montvale, NJ 07645Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/30/2028187.2 187.2 191.8 0.06 %
Romancing the Stone(#,^)140 Centre of New England Blvd, Coventry, RI 02816Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/30/2043325.9 325.9 368.0 0.12 %
Alaska Industrial Paint LLC(#,^)229 Whitney Rd, Unit B, Anchorage, AK 99501Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/202888.1 88.1 93.6 0.03 %
Fifth Wheel Truck Stop 001(#,^)3767 S Golden State Blvd, Fresno, CA 93725Gasoline Stations Term LoanPrime plus 2.75%3/30/20431,074.2 1,074.2 1,212.8 0.39 %
Michael S Brown Physical Therapy, P.C(#,^)300 Hempstead Tpke Ste. 3 & 4, Hempstead, NY 11552Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/30/202868.7 68.7 70.4 0.02 %
America's Little Leaders Academy, Inc(#,^)2570 NW 152nd Terrace, Opa-Locka, FL 33054Social AssistanceTerm LoanPrime plus 2.75%3/30/204321.0 21.0 23.7 0.01 %
Payne's Environmental Services LLC(#,^)5617 Causeway Blvd, Tampa, FL 33619Administrative and Support ServicesTerm LoanPrime plus 2.75%3/30/2028160.1 160.1 167.7 0.05 %
Technical Ordnance Solutions,LLC(#,^)9950 Business Circle, Ste 13, Naples, FL 34112Fabricated Metal Product ManufacturingTerm Loan7.75%3/30/2028972.8 972.8 923.5 0.30 %
Alaska Industrial Paint LLC(#,^)229 Whitney Rd Unit B, Anchorage, AK 99501Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/2043208.4 208.4 235.2 0.08 %
GQ Investments,LLC(#,^)5772 Miami Lakes Dr East, Miami, FL 33014Electrical Equipment, Appliance, and Component ManufacturingTerm LoanPrime plus 2.75%3/30/2028148.7 148.7 153.3 0.05 %
Kaz Wellness, LLC dba Grounded Wellness Center(#,^)104 Clover Court, Bartlett, IL 60103Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202811.2 11.2 11.7 — %
Lou & Choo Enterprises Inc.(#,^)2101 West Hunting Park Ave, Philadelphia, PA 19140Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/2044101.9 101.9 115.0 0.04 %
Clancy 15 LLC and Allied Molded Products LLC(#,^)1145 13th Ave East, Palmetto, FL 34221Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/28/2028119.6 119.6 125.0 0.04 %
Corning Lumber Company Inc & Frank R Close & Son Inc dba True Valley(#,^)111 E. Laurel St., Willows, CA 95988Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/28/202861.8 61.8 65.6 0.02 %
Clancy 15 LLC and Allied Molded Products LLC(#,^)1145 13th Ave East, Palmetto, FL 34221Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/28/2043205.2 205.2 231.7 0.07 %
261
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Montage Mountain Resorts, LP(#,^)1000 Montage Mountain Rd, Scranton, PA 18505Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/28/20431,167.9 1,167.9 1,318.5 0.43 %
Cartwright Termite & Pest Control Inc. and Cartwright Termite & Pest Co(#,^)1376 Broadway, El Cajon, CA 92021Administrative and Support ServicesTerm LoanPrime plus 2.75%3/28/2028157.7 157.7 165.1 0.05 %
K.C. Communications, Inc.(#,^)2715 Saturn St., Brea, CA 92821TelecommunicationsTerm LoanPrime plus 2.75%3/27/202844.1 44.1 46.9 0.02 %
Aque Investment Group LLC(#,^)3838 N. Sam Houston Pkwy E, Houston, TX 77032Real EstateTerm LoanPrime plus 2.75%3/23/2028187.6 187.6 199.1 0.06 %
Cable Management, LLC(#,^)200 Pratt St., Meriden, CT 06450Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202856.8 56.8 59.9 0.02 %
All Regional Recyclers of Wood LLC dba ARROW(#,^)104 Wooster St., Bethal, CT 06801Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202892.7 92.7 97.3 0.03 %
Denton BioFuels LLC and Amercian BioSource, LLC(#,^)624 W. University Dr.#359, Denton, TX 76201Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202868.2 68.2 71.0 0.02 %
Sunshine Tents and Event Rentals LLC(#,^)2322 SW 58th Terrace, West Park, FL 33023Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/23/202843.9 43.9 46.6 0.02 %
Shweiki Media Inc dba Study Breaks Magazine(#,^)4954 Space Center Dr, San Antonio, TX 78218Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/23/202852.1 52.1 55.3 0.02 %
Kajun Martial Arts LLC(#,^)36546 Mission St., Prairieville, LA 70769Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/23/202815.9 15.9 16.4 0.01 %
New York Label & Box Corp(#,^)50 Oval Dr, Islandia, NY 11749Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/23/20431,197.8 1,197.8 1,352.3 0.44 %
Sofasco, Inc(#,^)182 Garber Lane, Winchester, VA 22602Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%3/23/204393.4 93.4 105.5 0.03 %
GeoTek Alaska, Inc(#,^)2756 Commercial Dr, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/21/2043607.2 607.2 685.5 0.22 %
RTSP Union LLC(#,^)2438 Route 22 East, Union, NJ 07083Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%9/20/2028902.6 902.6 945.1 0.31 %
Rexco Foods LLC dba Papa John's(#,^)18640 Fm 1488 Ste C, Magnolia, TX 77354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/20/202830.0 30.0 30.8 0.01 %
Cest Chic Concepts, LLC dba Salon Cest Chic(#,^)15231 Hall Station Rd Unit 104, Bowie, MD 20721Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/19/20287.9 7.9 8.2 — %
Petroleum Equipment & Services, Inc(#,^)5631 Silverado Way Unit G, Anchorage, AK 99518Support Activities for MiningTerm LoanPrime plus 2.75%3/16/2028176.9 176.9 187.7 0.06 %
Camerabots Media, LLC(#,^)4501 Ford Ave Ste 207, Alexandria, VA 22302Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/16/202810.6 10.6 10.9 — %
CTD Operations Inc(#,^)219 Saint Nazaire Rd STE G, Broussard, LA 70518Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/202847.6 47.6 49.2 0.02 %
Rojenco, Inc. dba Buggy Bathe Auto Wash Lube & Detail Shoppe(#,^)2217 Richmond Rd, Williamsburg, VA 23188Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2043484.9 484.9 547.4 0.18 %
Rojenco II,Inc.(#,^)4357 Shore Dr, Virginia Beach, VA 23455Repair and MaintenanceTerm LoanPrime plus 2.75%9/15/204372.2 72.2 81.5 0.03 %
Rojenco II, Inc.(#,^)4357 Shore Dr, Virginia Beach, VA 23455Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2043376.0 376.0 424.5 0.14 %
262
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Rojenco, Inc. dba The Buggy Bathe Auto Wash Lube & Detail Shoppe(#,^)2217 Richmond Rd, Williamsburg, VA 23188Repair and MaintenanceTerm LoanPrime plus 2.75%9/15/204372.2 72.2 81.5 0.03 %
Summit Insights Group LLC(#,^)19 Briant Pkwy, Summit, NJ 07901Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/14/20286.9 6.9 7.0 — %
2b Mom Inc dba Mom's the Word Maternity(#,^)3150 18th St., Ste 435, San Francisco, CA 94110Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%3/9/202823.4 23.4 24.0 0.01 %
Dante Ultimate Cleaning Service LLC(#,^)16969 River Park Dr, Covington, LA 70345Administrative and Support ServicesTerm LoanPrime plus 2.75%3/9/20287.2 7.2 7.5 — %
SRG Waterfront LLC(#,^)88 District Square SW, Washington, DC 20005Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/9/2028205.4 205.4 211.3 0.07 %
Unpainted Arizona, LLC dba Westside Bowl(#,^)2617 Mahoning Ave, Youngstown, OH 44509Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/7/204398.0 98.0 110.7 0.04 %
BC Bishop Enterprises LLC dba 9Round Pooler(#,^)105-107 Grand Central Blvd, Pooler, GA 31322Educational ServicesTerm LoanPrime plus 2.75%3/2/20285.6 5.6 5.8 — %
Merciful Heavenly Homes, LLC(#,^)401 Dillar's Mill Rd, Tyner, NC 27980Nursing and Residential Care FacilitiesTerm Loan8%2/28/204362.1 62.1 60.7 0.02 %
Urban Fitness Group LLC dba Crunch Fitness Group LLC(#,^)2800 S IH-35, Ste 220, Round Rock, TX 78681Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/28/2028156.6 156.6 166.2 0.05 %
Connie Engelbrecht(#,^)20640 Raven Dr, Eagle River, AK 99577Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%2/28/20282.1 2.1 2.2 — %
The Law Offices of Samuel R Miller LLC(#,^)7405 Lake Worth Rd, Lake Worth, FL 33467Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/28/2043111.0 111.0 125.3 0.04 %
Betty's Catering Corp, Betty's Decoration & Wedding Center Inc.(#,^)94-33 Corona Ave, Corona, NY 11373Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/26/2043330.5 330.5 373.2 0.12 %
Jackpine Technologies Corporation(#,^)1 Mill & Main Pl., Ste 330, Maynard, MA 01754Publishing Industries (except Internet)Term LoanPrime plus 2.75%2/22/202825.9 25.9 27.5 0.01 %
Crossfit iQ LLC(#,^)346 Pike Rd, Bay 8 & 9, West Palm Beach, FL 33411Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/21/202829.7 29.7 30.7 0.01 %
Wellfleet Consulting Inc.(#,^)2275 Research Blvd Ste 500, Rockville, MD 20850Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/21/202810.5 10.5 10.7 — %
Town & Country Transportation Co.(#,^)191-193 Arch St., New Britain, CT 06051Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/16/202846.1 46.1 48.9 0.02 %
Lulinjett LLC dba All American Printing & Design(#,^)4621 Bayshore Rd, Fort Myers, FL 33917Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%2/14/204399.2 99.2 112.0 0.04 %
Margab Inc dba Smoothie King(#,^)14200 SW 8th St Unit #102, Miami, FL 33184Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/13/20282.9 2.9 3.0 — %
JumboMarkets, Inc.(#,^)15500 SW Trail Dr, Indiantown, FL 34956Food and Beverage Stores Term LoanPrime plus 2.75%2/13/2028145.1 145.1 150.1 0.05 %
Tony Herring & Associates, Inc.(#,^)211 West Camellia Dr, Slidell, LA 70458Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%2/9/20285.8 5.8 6.1 — %
Start UP Dreams, Inc dba SDC Concrete(#,^)30521 134th St SE, Sultan, WA 98294Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/9/202851.4 51.4 53.6 0.02 %
Quality Machine of Iowa, Inc(#,^)1040 4th Ave, Audubon, IA 50025Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%2/9/20281,002.4 1,002.4 1,050.5 0.34 %
263
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Apps Inc., Market Share, and Singular Leaseholdings LLC(#,^)800 Village Walk #159, Guilford, CT 06437TelecommunicationsTerm LoanPrime plus 2.75%2/8/2028378.3 378.3 387.5 0.13 %
De La Vega LLC dba De La Vega Deland and De La Vega Oviedo(#,^)128 North Woodland Blvd, Deland, FL 32720Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/7/202835.8 35.8 37.3 0.01 %
Macrotech Integrated Management Solutions dba Extreme Lawn Care(#,^)2425 Durrance LN, Ormond Beach, FL 32174Repair and MaintenanceTerm LoanPrime plus 2.75%2/5/20288.4 8.4 8.9 — %
Midlothian Hardware Inc dba Grills True Value(#,^)4751 West 147th St., Midlothian, IL 60445Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%2/2/202810.5 10.5 11.1 — %
Rocco'sLandscaping LLC(#,^)151 Kitts Lane, Newington, CT 06111Administrative and Support ServicesTerm LoanPrime plus 2.75%1/31/204369.8 69.8 78.8 0.03 %
USA General Investment LLC dba Braniff Paint and Body Shop(#,^)2290 NW 21st Terrace, Miami, FL 33142Repair and MaintenanceTerm LoanPrime plus 2.75%1/31/202810.4 10.4 10.7 — %
WydeBodi, LLC dba Wyde Bodi Auto Tags(#,^)706 North 37th St., Philadelphia, PA 19104Support Activities for TransportationTerm LoanPrime plus 2.75%1/30/204344.2 44.2 49.9 0.02 %
New Phaze Packaging Inc(#,^)9533 Irondale Ave, Los Angeles, CA 91311Paper ManufacturingTerm LoanPrime plus 2.75%1/26/2043893.1 893.1 1,008.4 0.33 %
Concrete Services LLC and James Ward(#,^)24 County Rd 901, Jemison, AL 35085Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/25/202869.1 69.1 72.1 0.02 %
Flair Interiors, Inc dba Giant Don's Flooring America(#,^)7725 Old Seward Hwy, Anchorage, AK 99502Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%1/24/202895.1 95.1 100.9 0.03 %
Tier1 Solutions LLC(#,^)1000 Essington Rd, Juliet, IL 60435Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/23/20285.4 5.4 5.5 — %
Lavish Specs Inc(#,^)262 Glen St., Glen Cove, NY 11542Machinery ManufacturingTerm LoanPrime plus 2.75%1/19/20285.2 5.2 5.3 — %
Weeping Willow Kennels, Inc.(#,^)6041 Hammond School Rd, Salisbury,, MD 21804Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/19/20287.3 7.3 7.7 — %
Lou & Choo Enterprises Inc dba Lou & Choo Lounge(#,^)2101,2103 & 2105 West Hunting Park Ave, Philadelphia, PA 19140Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/18/2043107.3 107.3 121.2 0.04 %
MedWorxs Inc.(#,^)6857 Timbers Dr., Evergreen, CO 80439Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/18/202854.5 54.5 55.8 0.02 %
Specialized Dairy Processors LLC and Nathaly Zapata(#,^)2200 N Commerce Pkwy, Weston, FL 33326Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/16/202845.0 45.0 46.1 0.01 %
Work of Heart Inc dba Little Nest Portraits(#)1000 Merdian Blvd, Ste 112, Franklin, TN 37067Professional, Scientific, and Technical ServicesTerm Loan7.5%1/10/20284.0 4.0 3.8 — %
Human Resource Time Manager LLC(#,^)2737 Humphrey St., East Elmhurst, NY 11369Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/8/202810.7 10.7 11.3 — %
Sandfree Systems LLC(#,^)116 Cricket Ave Ste B, Ardmore, PA 19003Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/5/20285.2 5.2 5.5 — %
Crad Holding LLC dba Neighborhood Laundry of Bloomfield(#,^)60 Dodd St., Bloomfield, NJ 07003Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/5/202842.5 42.5 43.6 0.01 %
Social Link LLC(#,^)41Peabody St., Nashville, TN 37210Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/20277.7 7.7 7.9 — %
264
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Farec, Inc(#)30250 W Nine Mile Rd, Farmington, MI 48336Amusement, Gambling, and Recreation IndustriesTerm Loan7.5%12/29/2042242.4 242.4 234.8 0.08 %
Anderson Farms Inc(#)271 West Hwy 30, Burley, ID 83318Truck TransportationTerm Loan7.5%12/22/20274,208.4 4,208.4 4,001.5 1.29 %
Muckamuck Trucks, Inc.(#,^)510 S Spring St., Ukiah, CA 95482Truck TransportationTerm LoanPrime plus 2.75%12/22/20279.4 9.4 9.8 — %
Medical Plaza of Boro Park PC(#,^)1266 51St 1st Floor, Brooklyn, NY 11219Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/202713.5 13.5 13.8 — %
O'Rourke's Diner, LLC(#,^)728 Main St., Middleton, CT 06457Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/22/20272.6 2.6 2.8 — %
Landmark Ventures USA Inc(#,^)475 Park Ave South 25th Floor, New York, NY 10016Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%12/22/202742.8 42.8 43.7 0.01 %
Salida Family Chiropractic-PPLC dba Salida Sport and Spine(#,^)203 G St., Salida, CO 81201Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/20278.2 8.2 8.4 — %
Blue Lagoon Resort, LLC dba Hill View Cottages(#,^)3670 Lake Shore Dr, Lake George, NY 12845AccommodationTerm LoanPrime plus 2.75%12/21/2042175.3 175.3 198.0 0.06 %
CT Auto Spa LLC(#,^)39 Albany Turnpike, West Simsbury, CT 06092Repair and MaintenanceTerm LoanPrime plus 2.75%12/21/2027149.6 149.6 158.4 0.05 %
DHD Enterprise LLC dba Edible Arrangements #1699(#,^)828 Washington Ave, Miami Beach, FL 33139Miscellaneous Store Retailers Term LoanPrime plus 2.75%12/21/202715.9 15.9 16.5 0.01 %
DBMS Consulting, Inc.(#,^)164 West 83rd St.- Units 1F/1P, New York, NY 10024Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202754.3 54.3 56.9 0.02 %
Auto Excellance of Fort Myers Inc.(#,^)3105 Fowler St., Fort Myers, FL 33901Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%12/19/204298.8 98.8 111.5 0.04 %
1-0 Granny's Helpful Hands, LLC(#,^)705 East Lake St., Minneapolis, MN 55407Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/15/202715.4 15.4 15.8 0.01 %
Legion Bowl, Inc & Legion Pub Inc(#,^)661 Park St., Cranston, RI 02910Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/15/2042307.5 307.5 347.2 0.11 %
Ocean Trans LLC & Dehal Trucking LLC(#,^)1415 W. Anderson St., Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%12/15/2042583.9 583.9 659.2 0.21 %
Peanut Butter & Co., Inc(#,^)119 West 57th St., Ste 300, New York, NY 10019Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/15/2027153.9 153.9 157.3 0.05 %
KR Calvert & Co, LLC(#,^)1620 Westgate Circle Ste 100, Brentwood, TN 37027Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/14/2027357.7 357.7 365.9 0.12 %
Royalty Freight Inc(#,^)3728 W Mckinley Ave, Fresno, CA 93722Truck TransportationTerm LoanPrime plus 2.75%12/14/2027454.8 454.8 464.7 0.15 %
Atlas Geo-Constructors, LLC(#,^)3466 Thomasville Rd, Winston Salem, NC 27107Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/14/2027229.0 229.0 240.2 0.08 %
AADJ Empire Inc and AADJ Galaxy Inc.(#,^)1599 Post Rd, Warwick, RI 02888Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/2042168.5 168.5 190.2 0.06 %
Heung Kyun Im(#,^)6235 Conlan Bay Dr, Houston, TX 77041Nonstore Retailers Term LoanPrime plus 2.75%12/14/202710.6 10.6 10.8 — %
LP Industries Inc. dba Childforms(#,^)2040 Norwood St. SW, Lenoir, NC 28645Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%12/14/202758.3 58.3 61.2 0.02 %
265
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Nichols Fire and Security LLC(#,^)1906 Vanderhorn Dr, Memphis, TN 38134Administrative and Support ServicesTerm LoanPrime plus 2.75%12/13/204281.3 81.3 91.8 0.03 %
Hardway Inc & AFC Leasing Inc(#,^)12533 S. 73rd E. Place, Bixby, OK 74008Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/13/2027524.9 524.9 536.3 0.17 %
LPB LPB Property Management Inc dba Wilderness View Cabins & Ellijay(#,^)498 Wilderness View, Chatsworth, GA 30705Real EstateTerm LoanPrime plus 2.75%12/12/204231.2 31.2 35.2 0.01 %
Clore Construction LLC(#,^)21220 FM 1420, Harlingen, TX 78550Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/12/2027315.1 315.1 330.5 0.11 %
A-1 Van Services Inc(#,^)154 Sandy Creek Rd, Verona, PA 15147Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/12/2027502.5 502.5 528.1 0.17 %
Jai Ganeshai LLC, Mahiveera 1 LLC, Mahiveera 2 LLC & KSVP LLC(#,^)1120 Wren School Rd, Piedmont, SC 29673Gasoline Stations Term LoanPrime plus 2.75%12/12/202733.7 33.7 34.4 0.01 %
AV Strategy Inc(#,^)9468 American Eagle Way Ste 100, Orlando, FL 32837Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/8/2027333.7 333.7 347.2 0.11 %
Clear Sound Communications, Inc(#,^)680 Old Medford Ave, Medford, NY 11763Administrative and Support ServicesTerm LoanPrime plus 2.75%12/8/20272.6 2.6 2.6 — %
Kim Howard Corp dba NPN Machine Tools(#,^)9130 Wayfarer Lane, Houston, TX 77075Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/7/2042562.5 562.5 635.0 0.21 %
ODS Inc(#,^)626 N Delsea Dr, Glassboro, NJ 08028Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/6/202733.6 33.6 34.9 0.01 %
Healthcare Interventions, Inc dba Brightstar Healthcare of & Brightstar(#,^)5300 W. Atlantic Ave. Ste 501, Delray Beach, FL 33484Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/4/202710.3 10.3 10.5 — %
Oil Palace, Inc.(#,^)10408 Hwy 64 East, Tyler, TX 75707Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/4/2042945.4 945.4 1,067.3 0.35 %
PS Camping Inc.(#,^)43595 US Hwy 50, Canon City, CO 81212AccommodationTerm Loan8.25%12/1/202717.3 17.3 17.0 0.01 %
Utara LLC(#,^)214 Pine St, Sandpoint, ID 83864Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/1/202715.9 15.9 16.5 0.01 %
Square1 Partners, LLC(#,^)1088 Greenbriar Lane, Northbrook, IL 60062Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/1/202742.6 42.6 43.6 0.01 %
Linda Jean Howard Riley dba The Rusty Bolt(#,^)22345 W. Rt 66, Seligman, AZ 86337Miscellaneous Store Retailers Term LoanPrime plus 2.75%12/1/204219.5 19.5 22.0 0.01 %
Salud Bar & Grill LLC(#,^)1413 Bushwick Ave, Brooklyn, NY 11207Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/1/202738.5 38.5 39.4 0.01 %
WTI Distribution Inc(#,^)5491 E Francis St, Ontario, CA 91761Support Activities for TransportationTerm LoanPrime plus 2.75%11/30/202727.1 27.1 28.3 0.01 %
J. Venture Holdings, LLC(#,^)2285 St. Andrews Ave, Zachary, LA 70791Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/30/20278.4 8.4 8.9 — %
OPH Lexington, Inc(#,^)235 Walton Ave, Lexington, KY 40502Social AssistanceTerm LoanPrime plus 2.75%11/29/2042176.9 176.9 199.8 0.06 %
Our Playhouse Preschool, LLC(#,^)3501 NC Hwy 54 W, Chapel hill, NC 27516Social AssistanceTerm LoanPrime plus 2.75%11/29/2042217.5 217.5 245.6 0.08 %
266
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Beacon Brewing LLC and C' Sons, LLC(#,^)700 Lincoln St., Lagrange, GA 30204Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2042117.8 117.8 133.0 0.04 %
Webtez Inc dba Mod Vans(#,^)920 Graves Ave, Oxnard, CA 93003Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/22/202747.3 47.3 48.5 0.02 %
Step Up Academy of the Arts, LLC(#,^)2258A Wigwam Pkwy, Henderson, NV 89074Educational ServicesTerm LoanPrime plus 2.75%11/22/202710.7 10.7 10.9 — %
JMD Corporation dba Dart's True Value(#,^)121 South Main St., Payette, ID 83661Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%11/22/202712.6 12.6 13.2 — %
Grumpy's Restaurant Company, LLC(#,^)834 Kingsley Ave, Orange Park, FL 32073Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/202748.1 48.1 49.2 0.02 %
Cali Fit Meals(#,^)3450 East Orangethrope Ave, Anaheim, CA 92806Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/202715.2 15.2 15.9 0.01 %
PB Market LLC dba Pure Barre(#,^)164-C Market St, Charleston, SC 29401Educational ServicesTerm LoanPrime plus 2.75%11/21/202773.4 73.4 75.0 0.02 %
B Lam LLC(#,^)9419 Kenwood Rd, Cincinnati, OH 45242Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/20/2042168.2 168.2 189.9 0.06 %
Maya Motel, LLC dba Town House Motel(#,^)1701 Washington Ave, Waco, TX 76701AccommodationTerm LoanPrime plus 2.75%11/17/204252.9 52.9 59.7 0.02 %
Southern Specialty Contractor, LLC & Ronald David Holbrook Jr.(#,^)1990 Flippen Rd, Stockbridge, GA 30281Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/17/202735.8 35.8 36.7 0.01 %
H & H Hotshot Services, Inc.(#,^)5455 N. 51st Ave Ste 30, Glendale, AZ 85301Couriers and MessengersTerm LoanPrime plus 2.75%11/16/202747.3 47.3 49.0 0.02 %
Auto Rx LLC,J&P Auto Repair Inc(#,^)91 & 95 Woodbury Rd, Hicksville, NY 11801Repair and MaintenanceTerm LoanPrime plus 2.75%11/15/2042182.1 182.1 205.6 0.07 %
J R Wholesale Tires & Auto Center, LLC(#,^)822 Cameron Lane, Lugoff, SC 29078Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/15/204212.5 12.5 14.1 — %
Marcaco LLC(#,^)124 Lincoln Ave, Colonie, NY 12205Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%11/15/2042498.6 498.6 562.9 0.18 %
Paramount Dance Studios Inc. and Homestead Dance Supply(#,^)112 N Krome Ave, Homestead, FL 33030Educational ServicesTerm LoanPrime plus 2.75%10/14/2043438.6 438.6 495.1 0.16 %
Wing King at the Gardens LLC(#,^)4235 South Fort Apache Rd, Ste 250, Las Vegas, NV 89147Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/10/20276.6 6.6 6.7 — %
JNP Delivery Inc(#,^)4500 North Providence # 7, Appleton, WI 54913Couriers and MessengersTerm Loan6%11/7/20276.5 6.5 6.4 — %
His Loving Hands Christian Academy, Inc.(#,^)15020 Harrison St., Miami, FL 33176Social AssistanceTerm LoanPrime plus 2.75%11/6/204285.1 85.1 96.1 0.03 %
Sterling Campbell Insurance Agency, Inc(#,^)36359 North Gantzel Rd Ste 102, San Tan Valley, AZ 85140Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/3/20275.1 5.1 5.2 — %
S & S Auto Body Shop Inc.(#,^)5001 W. Clay St., Richmond, VA 23230Repair and MaintenanceTerm LoanPrime plus 2.75%11/3/204269.9 69.9 78.9 0.03 %
Top Quality Dent Service LLC(#,^)1541 Vapor Trail, Colorado Springs, CO 80905Repair and MaintenanceTerm LoanPrime plus 2.75%11/2/20274.1 4.1 4.2 — %
Rachael Reel dba Rachel Reel Insurance Age(#,^)208 Bank St., Lenoir, TN 37771Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%10/31/20275.0 5.0 5.1 — %
267
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Die Hard Used Car Sales(#,^)1668 West Grand Ave, Phoenix, AZ 85007Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%10/30/204252.3 52.3 59.1 0.02 %
The Five Lakes LLC(#,^)13705 Holmes Rd, Kansas City, MO 64154Educational ServicesTerm LoanPrime plus 2.75%10/30/2042440.0 440.0 496.7 0.16 %
Blue Eagle Transport Inc , Golden Eagle Transport, Inc & Green Eagle(#,^)377 Boston Post Rd Unit B, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%10/27/202727.7 27.7 28.5 0.01 %
Sage Oil LLC(#,^)8913 Egyptian Ave, Las Vegas, NV 89143Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%10/27/20276.7 6.7 6.9 — %
Ashore Ventures Inc dba PuroClean Professional Restoration(#,^)909 SE Everett Mall Way Ste A-140, Everett, WA 98208Repair and MaintenanceTerm LoanPrime plus 2.75%10/27/20279.7 9.7 10.0 — %
Suzie LLC dba Tony D's Restaurant(#,^)92 Huntington St., New London, CT 06320Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/25/204281.0 81.0 91.5 0.03 %
Grand Blanc Lanes, Inc.(#,^)5301 S. Saginaw Rd, Flint, MI 48507Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/25/202710.0 10.0 10.6 — %
Schafer Fisheries Inc(#,^)21985 Waller Rd, Fulton, IL 61252Food ManufacturingTerm LoanPrime plus 2.75%10/25/202725.7 25.7 27.3 0.01 %
The Jig, LLC(#,^)3115 Camp Phillips Rd, Wausau, WI 54403Food Services and Drinking PlacesTerm Loan8.25%10/24/204223.4 23.4 22.8 0.01 %
Island Refrigeration & AC Inc(#,^)3201 Flagler Ave, Unit 510 & 511, Key West, FL 33040Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/18/2042122.7 122.7 138.6 0.04 %
Blueridge Armor LLC(#,^)1495 Hwy 74-A Bypass, Ste 150192, Spindale, NC 28160Miscellaneous ManufacturingTerm LoanPrime plus 2.75%10/17/20275.5 5.5 5.8 — %
H and K Dry Cleaning LLC ,Quintero Shopping Center LLC,Aqua Laundry(#,^)1227 Burnside Ave, East Hartford, CT 06108Electronics and Appliance Stores Term Loan7.5%10/17/204260.0 60.0 58.6 0.02 %
Cortez Landscaping, LLC(#,^)4 Powder Rd, Norwalk, CT 06854Administrative and Support ServicesTerm LoanPrime plus 2.75%10/13/202712.8 12.8 13.3 — %
On Call Services LLC(#,^)15060 281St Ave NW, Zimmerman, MN 55398Construction of BuildingsTerm LoanPrime plus 2.75%10/13/202712.2 12.2 12.9 — %
Pro Anderson, LLC(#,^)1092 Hampton Inn Way, Ste 400, Jacksonville, NC 28546Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/11/202736.2 36.2 37.1 0.01 %
Becky Lou Corp dba Rent A Center(#,^)3578 Route 611, Ste 210, Bartonsville, PA 18321Rental and Leasing ServicesTerm LoanPrime plus 2.75%10/2/202760.7 60.7 63.3 0.02 %
Ains Holding Company LLC(#,^)122 W. 26th St., New York, NY 10001Management of Companies and EnterprisesTerm LoanPrime plus 2.75%10/2/202767.6 67.6 69.5 0.02 %
Dan Cline Transport Inc.(#,^)501 State Dr, Mount Vernon, MO 65712Truck TransportationTerm LoanPrime plus 2.75%9/29/2030758.8 758.8 803.6 0.26 %
Harco Metal Products Inc(#,^)7895 East Acoma Dr Ste 102, Scottsdale, AZ 85260Primary Metal ManufacturingTerm LoanPrime plus 2.75%9/29/2042455.4 455.4 514.2 0.17 %
Sashshel Corporation(#,^)676 Franklin Blvd, Somerset, NJ 08873Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/29/2042196.6 196.6 221.9 0.07 %
Threads of Time LLC(#,^)207 S Buchanan St., Danville, IL 61832Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%9/29/2042127.1 127.1 143.5 0.05 %
Pets A Go Go LLC(#,^)589 North State Rd, Briarcliff Manor, NY 10510Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/28/2042183.5 183.5 207.2 0.07 %
268
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Rhode Island Tennis Management LLC(#,^)636 Centerville Rd, Warwick, RI 02886Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/28/2042519.7 519.7 586.7 0.19 %
Nicholson Lumber Co Inc.(#,^)377 Main St., Nicholson, PA 18446Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/28/2030164.8 164.8 178.8 0.06 %
Rhode Island Tennis Management LLC(#,^)636 Centerville Rd, Warwick, RI 02886Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/28/2042361.9 361.9 408.5 0.13 %
Complete Care IT LLC(#,^)4801 South University Dr, Ste 125, Davie, FL 33328Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/20279.7 9.7 9.9 — %
Technologist Inc(#,^)3120 Farview Dr, Ste 610, Falls Church, VA 22042Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/27/2027163.7 163.7 172.8 0.06 %
Inspirations Food Design, Inc(#,^)1338 Memorial Ave, West Springfield, MA 01089Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/26/2042430.1 430.1 485.5 0.16 %
KB Waterjet Cutting LLC(#,^)4330 Parker Lane, Addis, LA 70710Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/22/20276.7 6.7 7.0 — %
JPS Arthur Kill Rd Bakery Corp dba Aunt Butches of Brooklyn(#,^)4864 Arthur Kill Rd Units 102,103,104 & 105, Staten Island, NY 10309Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/22/202714.8 14.8 15.2 — %
Sallee Pro-Custom Fabrication Shop LLC(#,^)8865 North County Rd 600 W, Scipio, IN 47273Repair and MaintenanceTerm LoanPrime plus 2.75%9/21/20275.9 5.9 6.3 — %
NY Tent LLC & NY Tent Parent, LLC dba Tent Company of New York(#,^)1401 Lakeland Ave, Bohemia, NY 11716Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/20/2027679.4 679.4 714.5 0.23 %
Imagine By Carleen, Inc.(#,^)1404 Del Prado Blvd. South, Units 100 & 105, Cape Coral, FL 33904Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/20/20275.0 5.0 5.2 — %
Insight Diagnostic Technologist Services(#,^)2030 Forest Ave, Ste 110, San Jose, CA 95128Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/20/2027218.7 218.7 225.5 0.07 %
Sound Manufacturing, Inc. & Monster Power Equipment, Inc.(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/20/2027131.6 131.6 138.1 0.04 %
CR Park Incorporated dba Define Body and Mind(#,^)49 W. Allandale Ave, Allendale, NJ 07401Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/20/202725.3 25.3 26.5 0.01 %
Montessori Community School(#,^)123 South Navarra Dr, Scotts Valley, CA 95066Social AssistanceTerm LoanPrime plus 2.75%9/20/2042252.2 252.2 284.7 0.09 %
Stone's Construction and Remodeling, LLC(#,^)5210 Kaylin Dr, Akron, OH 44319Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/19/20273.4 3.4 3.5 — %
Li Family Spokane LLC(#,^)21 E. Lincoln Rd, Spokane, WA 99208Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/15/2042355.5 355.5 401.4 0.13 %
Alaska Motor Home Inc(#,^)6633 Brayton Dr, Anchorage, AK 99507Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/13/2027221.1 221.1 225.3 0.07 %
Nails By Mercede LLC(#,^)2994 and 2996 Edgewater Dr, Orlando, FL 32804Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/13/20279.4 9.4 9.9 — %
Rajbai Maa Inc. dba Nara Lounge(#,^)244-252 Atwells Ave, Providence, RI 02903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/12/2042358.7 358.7 405.0 0.13 %
Town & Country Transportation Co. and Popco, LLC.(#,^)191 Arch St., New Britain, CT 06051Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/12/2042155.9 155.9 176.0 0.06 %
269
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Health & Performance Center, LLC(#,^)1862 Craigshire Rd, Saint Louis, MO 63146Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/11/202713.5 13.5 13.7 — %
Morgan Lynn Kerstetter dba Catherine School of Dance(#,^)315 Mill St. 3rd Floor, Danville, PA 17821Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/11/20275.0 5.0 5.2 — %
Foxtail, LLC and Tottly New Services Corp(#,^)1481 Highland Ave, Cheshire, CT 06410Social AssistanceTerm LoanPrime plus 2.75%9/8/2042269.3 269.3 304.0 0.10 %
Crazy Beatz Productions LLC(#,^)20014 NE 138th St., Kearney, MO 64060Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 3.75%9/7/20273.6 3.6 3.8 — %
South Fulton Landscape & Nursery, Inc.(#,^)3415 Enon Rd, College Park, GA 30349Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%9/7/204292.5 92.5 104.4 0.03 %
Dreaming Big Learning Center Inc(#,^)3301 W Oak St, Kissimmee, FL 34741Social AssistanceTerm LoanPrime plus 2.75%9/5/2042351.3 351.3 396.6 0.13 %
Big Coop's Trucking LLC(#,^)3066 Misty Creek Dr., Swartz, MI 48473Truck TransportationTerm LoanPrime plus 2.75%9/1/202766.1 66.1 69.1 0.02 %
Blue EagleTransport Inc, Greeneagle Transport Inc & Golden Eagle(#,^)377 Boston Post Rd, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%8/31/2027277.3 277.3 284.9 0.09 %
Lake County Tow LLC(#,^)15409 Country Rd 565A, Clermont, FL 34711Support Activities for TransportationTerm LoanPrime plus 2.75%8/25/204280.7 80.7 91.2 0.03 %
Parlay Disributors LLC(#,^)20 Medford Ave, Ste 104, Patchogue, NY 11772Educational ServicesTerm LoanPrime plus 2.75%8/25/202772.5 72.5 74.3 0.02 %
Genuine Ventures LLC and Seaweed Ventures LLC(#,^)432 S Franklin St, Juneau, AK 99801Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/24/2030457.2 457.2 488.7 0.16 %
Delicias de Minas Restaurant, LLC(#,^)168-170 McWhorter St., Newark, NJ 07105Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/22/2027129.7 129.7 136.9 0.04 %
L&V Auto Sales, Inc.(#,^)1504 West Franklin Blvd., Gastonia, NC 28052Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%8/21/202711.8 11.8 12.4 — %
Damiano Global Corp(#,^)333 Birch Hills Dr, Rochester, NY 14622Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/21/202714.7 14.7 15.4 — %
Tier1 Solutions LLC(#,^)1000 Essington Rd Ste. 109 & 111, Joliet, IL 60435Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/18/202712.7 12.7 13.1 — %
Tony Herring & Associates, Inc(#,^)211 West Camellia Dr, Slidell, LA 70458Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%8/17/20274.9 4.9 5.0 — %
Chester's World Enterprise LLC(#,^)140 W Alameda Dr, Ste 104, Tempe, AZ 85282Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/16/202714.7 14.7 15.2 — %
D'Amato & Sons Construction, Inc.(#,^)117 Oak St., Amityville, NY 11701Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/11/20275.4 5.4 5.6 — %
Roundhay Partners LLC and Roundhay Farming LLC(#,^)6160 Granite Spring Rd, Somerset, CA 95684Crop ProductionTerm Loan8.25%8/8/2042831.4 831.4 783.2 0.25 %
L & J Corporate Services Inc(#,^)866 NW 110th Ave, Coral Springs, FL 33071Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/4/20273.7 3.7 3.7 — %
Work of Heart Inc dba Little Nest Portraits(#,^)1000 Merdian Blvd, Ste 112, Franklin, TN 37067Professional, Scientific, and Technical ServicesTerm Loan7.5%7/28/202733.0 33.0 31.4 0.01 %
Sharon G McMillen, MA Psychologist, Inc.(#,^)216 West Main St, Kingwood, WV 26537Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/28/202712.0 12.0 12.2 — %
270
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
HQTRONIC LLC(#,^)10135 S. Roberts Rd, Ste. 209, Palos Hills, IL 60465Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%7/27/202714.5 14.5 14.8 — %
Oberon IT, Inc.(#,^)1404 W. Walnut Hill Lane, Irving, TX 75038Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/26/2027141.2 141.2 146.6 0.05 %
Gilles Peress Studio LLC(#,^)76 Lafayette Ave, Brooklyn, NY 11217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/25/202739.8 39.8 40.6 0.01 %
Obok LLC(#,^)2720 S. Havana St., Unit H, Aurora, CO 80014Food ManufacturingTerm LoanPrime plus 2.75%7/21/20277.7 7.7 8.1 — %
Lil Tots' Learning Center LLC(#,^)3042 S 78th St, Tampa, FL 33619Social AssistanceTerm LoanPrime plus 2.75%7/21/204225.5 25.5 28.8 0.01 %
Ocean Trans LLC(#,^)1415 W Andersonr Way, Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%7/21/202725.6 25.6 26.1 0.01 %
Matrix Z LLC(#,^)800 SW 21st Terrace, Fort Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 3.75%7/19/20275.5 5.5 5.9 — %
Aitheras Aviation Group, LLC , Aitheras Aviation Group, LLC(#,^)2301 N Marginal Rd, Cleveland, OH 44114Air TransportationTerm LoanPrime plus 2.75%7/18/2027532.3 532.3 543.6 0.18 %
Wildflour Bakery & Cafe, LLC(#,^)5137 Clareton Dr, Ste 100,110 & 120, Agoura Hills, CA 91301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/202714.5 14.5 15.3 — %
Koep Companies dba Pipestone True value(#,^)207 East Main St., Pipestone, MN 56164Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%7/14/2042300.8 300.8 339.6 0.11 %
McCord Holdings, Inc. dba Fast Signs 176101(#,^)7640 N. Wickham Rd, Melbourne, FL 32940Administrative and Support ServicesTerm LoanPrime plus 2.75%7/7/20279.5 9.5 9.8 — %
Thrifty Market Inc dba Thrifty Foods(#,^)702 10th St., Wheatland, WY 82201Food and Beverage Stores Term LoanPrime plus 2.75%7/6/202769.4 69.4 71.7 0.02 %
Hamilton & Associates Real Estate and Investments Firm LLC(#,^)11776 West Sample Rd, Coral Springs, FL 33065Real EstateTerm LoanPrime plus 2.75%6/30/204249.7 49.7 56.1 0.02 %
J. T. O'Neill Company, L.L.C(#,^)19972 Willowin Farm Lane, Purcellville, VA 20132Real EstateTerm LoanPrime plus 2.75%6/30/20279.6 9.6 10.0 — %
J&M Civil Construction Services LLC(#,^)1221 County Rd 4371, Decatur, TX 76234Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/30/202768.4 68.4 71.2 0.02 %
BQRS, Inc. DBA Gresham Meineke Car Care Center(#,^)18081 SE Division St., Portland, OR 97236Repair and MaintenanceTerm Loan0%6/30/202750.3 50.3 48.9 0.02 %
New Chicago Wholesale Bakery Inc.(#,^)795 Touhy Ave, Elk Grove Village, IL 60007Food ManufacturingTerm LoanPrime plus 2.75%6/30/202710.6 10.6 11.2 — %
Best Bees Company(#,^)839 Albany St., Boston, MA 02119Animal Production and AquacultureTerm LoanPrime plus 2.75%6/29/202714.3 14.3 14.9 — %
Oakhill Farms, LLC(#,^)15 Carl St., Johnston, RI 02919Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/203075.1 75.1 82.1 0.03 %
Stiegelbauer Associates Inc.(#,^)63 Flushing Ave, Unit 101, Building 280, Brooklyn, NY 11205Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/2027196.5 196.5 208.1 0.07 %
Intellixion LLC(#,^)7447 Egan Dr, Ste 110 A, Savage, MN 55378Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/29/20272.4 2.4 2.5 — %
Ocean Trans LLC and Dehal Trucking LLC(#,^)760 W. Charter Way, Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%6/29/2027383.0 383.0 399.0 0.13 %
271
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Foxhop Fitness, LLC(#,^)4211 NW Federal Hwy, Jensen Beach, FL 34957Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/28/202757.9 57.9 60.4 0.02 %
Old Dominion Transportation Group, Inc.(#,^)2510 Hunters Place, Ste 202, Woodbridge, VA 22192Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/28/2027765.1 765.1 799.4 0.26 %
Auxiliary Systems Inc.,Sharrick Company, LLC & KMN, LLC(#,^)211 East 25th St., Norfolk, VA 23504Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%6/27/2030184.6 184.6 201.8 0.07 %
Ains Holding Company, LLC(#,^)122 West 26th St., New York, NY 10001Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/2027818.3 818.3 855.0 0.28 %
Northern Industries, LLC(#,^)W 5585 Dehart Dr, Tomahawk, WI 54484Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/23/204253.6 53.6 60.6 0.02 %
Vella Construction Enterprises, Inc. dba Vella Construction(#,^)318 28th Ave, San Mateo, CA 94403Construction of BuildingsTerm LoanPrime plus 2.75%6/23/202714.3 14.3 14.9 — %
Birches Group, LLC(#,^)228 East 45th St. 12th FL South, New York, NY 10017Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/22/202731.9 31.9 33.2 0.01 %
Scarlet Spartan Inc.dba FastSigns of Brighton(#,^)533 W. Grand River Ave, Brighton, MI 48116Administrative and Support ServicesTerm LoanPrime plus 2.75%6/19/202710.0 10.0 10.6 — %
Don G. Timpton DDS & Associates PA and Indsaad Properties,LLC(#,^)11535 Carmel Commons Blvd. Ste 200, Charlotte, NC 28226Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/16/2042369.9 369.9 417.6 0.14 %
JAM Media Solutions, LLC(#,^)4744 Tackawanna St., Philadelphia, PA 19124Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/15/202723.3 23.3 24.3 0.01 %
All Regional Recyclers of Wood LLC dba ARROW, Superior Carting, LLC(#,^)104 Wooster St., Bethel, CT 06801Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/15/2042285.5 285.5 322.3 0.10 %
ESA 365 Corp and Lucathor Realty LLC(#,^)2420 Grand Ave, Baldwin, NY 11520Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/14/204220.7 20.7 23.3 0.01 %
Susan Hughes dba Aloha Junction B and B(#,^)19-4037 Olapalapa Rd, Volcano, HI 96785AccommodationTerm LoanPrime plus 2.75%6/14/204256.7 56.7 64.0 0.02 %
Hull's Kitchen, LLC and HK Too, LLC(#,^)19 Hull Shore Dr, Hull, MA 02045Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/14/204291.3 91.3 103.1 0.03 %
Tele Tax Express Inc., El Rancho Paiso, LLC and Nestor Romero(#,^)577 Main Ave, Paterson, NJ 07055Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/204285.0 85.0 96.0 0.03 %
Refoleen Inc dba Spice and Tea Exchange(#,^)849 E Commerce St. Ste 121, San Antonio, TX 78205Food and Beverage Stores Term LoanPrime plus 2.75%6/8/20272.2 2.2 2.3 — %
Skydive California, LLC(#,^)25001 S Kasson Rd, Tracy, CA 95301Educational ServicesTerm LoanPrime plus 2.75%6/2/202734.9 34.9 37.0 0.01 %
SCW, LLC dba Arthur Murray Dance Studio(#,^)2383 Old Dixwell Ave, Hamden, CT 06518Educational ServicesTerm LoanPrime plus 2.75%6/2/2042134.2 134.2 151.5 0.05 %
Speaker City, Inc.and Speaker Town, LLC dba Rollin Thunder(#,^)246 East Belt Blvd, Richmond, VA 23224Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%6/1/204241.9 41.9 47.4 0.02 %
Funtime, LLC and Universal Entertainment Group LLC(#,^)13200 W. Foxfire Dr #144, Surprise, AZ 85387Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/31/202748.3 48.3 50.5 0.02 %
Ricnet III, Inc. dba Edible Arrangements(#,^)716 Foxcroft Ave, Martinsburg, WV 25401Food and Beverage Stores Term LoanPrime plus 2.75%5/31/20279.5 9.5 9.9 — %
272
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Haroon Baig,Inc.dba US1 Petrol(#,^)1280-1290 Dixwell Ave, Hamden, CT 06514Gasoline Stations Term LoanPrime plus 2.75%5/31/2042242.2 242.2 273.5 0.09 %
Sage Oil LLC(#,^)8913 Egyptian Ave, Las Vegas, NV 89143Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%5/31/202714.2 14.2 14.8 — %
Chet Lemon Enterprises LLC dba All American Sports(#,^)1544 Lane Park Cutoff, Tavares, FL 32778Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/26/2042728.3 728.3 822.2 0.27 %
Swantown Inn & Spa LLC(#,^)1431 11th Ave SE, Olympia, WI 98501AccommodationTerm LoanPrime plus 2.75%5/26/2042116.6 116.6 131.7 0.04 %
Eagle Wood Works LLC(#,^)1448 Horsehead Rd, Lugoff, SC 29078Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%5/26/20277.5 7.5 7.9 — %
Hurricane Group, Inc.(#,^)312 West Fourth St., Carson City, NV 89703Other Information ServicesTerm LoanPrime plus 2.75%5/26/202754.5 54.5 56.7 0.02 %
Beyond Waves A Unique Salon LLC and Lori Ann Carlson(#,^)2290 Foxon Rd Route 80, North Branford, CT 06471Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/20272.9 2.9 3.0 — %
Locavore LLC dba Paloma Restaurant(#,^)401 S. Guadalupe St., Santa Fe, NM 87501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/25/202731.4 31.4 32.9 0.01 %
Abdul Naushad MD PC dba Advanced Pain Centers(#,^)2865 James Blvd, Poplar Bluff, MO 63901Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/25/2042372.3 372.3 420.4 0.14 %
Innovim, LLC(#,^)6401 Golden Triangle Dr Ste 200, Greenbelt, MD 20770Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/24/2027182.5 182.5 190.1 0.06 %
Iron Men Home Repair, Inc. and Ironmen House Lifting Inc.(#,^)132 North Wellwood Ave, Lindenhurst, NY 11757Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/19/2042534.5 534.5 603.4 0.20 %
Tres K Deli,Grocery,Fruit and Meat Inc.(#,^)125 West Tremont Ave, Bronx, NY 10453Food and Beverage Stores Term LoanPrime plus 2.75%5/19/20275.2 5.2 5.5 — %
Hayden Trucking LLC(#,^)11540 Eagle Vista Dr, Fort Worth, TX 76179Truck TransportationTerm LoanPrime plus 2.75%5/19/202792.5 92.5 98.0 0.03 %
PS Camping, Inc. dba Prospectors RV Resort(#,^)43659&43595 US Hwy 50, Canon City, CO 81212AccommodationTerm Loan8.25%5/19/2042891.0 891.0 871.8 0.28 %
Mr. B's Bicycles & Mopeds, Inc.(#,^)1870 S. 4th Ave, Yuma, AZ 85364Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%5/18/2042134.6 134.6 152.0 0.05 %
Waterford Plumbing Co, Inc.(#,^)2425 W. Cuyler Ave, Chicago, IL 60618Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/18/202731.5 31.5 32.9 0.01 %
Bay Car Wash LLC(#,^)952 South Commercial St. and West Magnolia, Aransas Pass, TX 78336Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/2042111.7 111.7 126.1 0.04 %
Computech Computers Inc.(#,^)40-24 76th St., Office #2B, Elmhurst, NY 11373Educational ServicesTerm LoanPrime plus 2.75%5/17/202731.5 31.5 32.8 0.01 %
Arco Electrical Contractors Inc. dba Arco Construction Group(#,^)22-24 South Seventh St., Elizabeth, NJ 07202Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/16/2027231.3 231.3 243.3 0.08 %
5 Stars Learning Center Inc(#,^)14 Paine Ave, Irvington, NJ 07111Social AssistanceTerm LoanPrime plus 2.75%5/16/204256.7 56.7 64.0 0.02 %
Sanderson Distribution Inc.(#,^)100 Daniel Dr, Alamo, CA 94507Truck TransportationTerm LoanPrime plus 2.75%5/12/20276.6 6.6 6.9 — %
273
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
B G F Bobby Q's Inc(#,^)447 N. Main St., Freeport, NY 11520Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/11/20274.7 4.7 5.0 — %
Estelle Finkel Educational Associates,LLC(#,^)125 West Mount Pleasant Ave, Livingston, NJ 07039Educational ServicesTerm LoanPrime plus 2.75%5/11/202776.7 76.7 79.9 0.03 %
NHS, LLC(#,^)212 N Douglas Ave, Ellsworth, KS 67439Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%5/9/202755.7 55.7 58.4 0.02 %
Innovation Transport, LLC(#,^)1 International Blvd, Mahwah, NJ 07495Truck TransportationTerm LoanPrime plus 2.75%5/9/202749.3 49.3 52.1 0.02 %
NHS, LLC(#,^)212 N Douglas Ave, Ellsworth, KS 67439Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%5/9/204220.1 20.1 22.7 0.01 %
Benchmark Building, Inc.(#,^)1439 Stargazer Terrace, Sanford, FL 32771Construction of BuildingsTerm LoanPrime plus 2.75%5/5/202714.2 14.2 14.8 — %
Cable Management LLC(#,^)290 Pratt St., Meriden, CT 06450Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/3/202736.1 36.1 38.1 0.01 %
Fine Arts Center of Easley, Inc. dba Midtown Music(#,^)117 S. Pendleton St., Easley, SC 29640Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%5/2/2042109.5 109.5 123.7 0.04 %
Love and Glory Learning Center, Inc.(#,^)4911 N. 42nd St., Tampa, FL 33610Social AssistanceTerm LoanPrime plus 2.75%4/28/204271.4 71.4 80.6 0.03 %
Sneads Ferry Foods, Inc. dba DQ Grill & Chill(#,^)920 Hwy 210, Sneads Ferry, NC 28460Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/2042598.3 598.3 675.5 0.22 %
JMA Inc. dba Primecut and Mezzo; Primecut at Marquee(#,^)393 Charles St., Providence, RI 02904Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/2042203.1 203.1 229.3 0.07 %
Ralph's Hair Salon, Inc.(#,^)175 NW 14th St., Homestead, FL 33030Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/21/204245.8 45.8 51.7 0.02 %
Getting Even LLC dba The Zoo Health Club(#,^)377 South Willow St., Ste B 2-1, Manchester, NH 03103Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/21/20274.7 4.7 4.9 — %
Condron Brothers LLC DBA Luv 2 Play(#,^)4790 La Sierra Ave, Riverside, CA 92505Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/19/202774.4 74.4 78.0 0.03 %
The Altitude Group, LLC and Core Home Security, LLC(#,^)949 Clint Moore Rd, Unit 949A, Boca Raton, FL 33487Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/31/202726.9 26.9 27.9 0.01 %
Citizens Lanes, LLC(#,^)5100 Goodson Connector Rd, Union City, GA 30291Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%3/31/2042602.2 602.2 589.3 0.19 %
Landmark Ventures USA, Inc.(#,^)475 Park Ave South 25th Floor, New York, NY 10016Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/31/2027115.3 115.3 119.7 0.04 %
Golden Hen Inc. dba Cafe(#,^)468 W. Cheltenham Ave, Philadelphia, PA 19126Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/31/202739.8 39.8 41.4 0.01 %
Bear Trail Lodge LLC(#,^)Mile 1 Bear Trail Rd, King Salmon, AK 99613Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/31/2042506.4 506.4 571.8 0.18 %
Schafer Fisheries Inc.(#,^)21985 Waller Rd, Fulton, IL 61252Food ManufacturingTerm LoanPrime plus 2.75%3/30/2042233.9 233.9 264.1 0.09 %
Sea Smoke Barbeque, Corp and Danwen LLC(#,^)20 Island Farm Rd, Oak Bluffs, MA 02557Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/2042216.7 216.7 244.7 0.08 %
274
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Gauri Hospitality Group LLC dba Microtel Inns & Suites by Wyndham(#,^)1221 Kentucky Mills Dr, Louisville, KY 40299AccommodationTerm LoanPrime plus 2.75%3/29/2042968.2 968.2 1,093.1 0.35 %
Discount Price, LLC dba Robert's Market(#,^)2 Hill Rd, Franklin, NH 03235Gasoline Stations Term LoanPrime plus 2.75%3/29/2042189.0 189.0 213.4 0.07 %
Douglas K. Soderblom . dba Loma Linda Optometry(#,^)25815 Barton Rdad, Unit C104, Loma Linda, CA 92354Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202761.5 61.5 64.3 0.02 %
H and H Hotshot Services, Inc. dba AA Hotshot & Logistics(#,^)5455 N 51st St., # 30, Glendale, AZ 85301Couriers and MessengersTerm LoanPrime plus 2.75%3/29/203058.3 58.3 62.5 0.02 %
New England Country Day School, Inc. and Thomas D. Walker(#,^)27 Kenosia Ave, Danbury, CT 06810Social AssistanceTerm LoanPrime plus 2.75%3/28/2042345.9 345.9 390.5 0.13 %
Heil & Hornik LLC dba Elysium Tennis(#,^)7637 C. Commerce Place, Plain City, OH 43064Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/27/2042851.2 851.2 961.0 0.31 %
Color Graphic Press, Inc.(#,^)42 Main St., Nyack, NY 10960Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/23/202773.8 73.8 77.9 0.03 %
JBK Truck Trailer and Bus Inc.(#,^)8669 South State Rd 67, Camby, IN 46113Repair and MaintenanceTerm LoanPrime plus 2.75%3/23/204281.3 81.3 91.8 0.03 %
Denton Bio Fuels LLC and American Bio Source LLC(#,^)624 W. University Dr. Ste 359, TX, TX 76201Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202740.0 40.0 41.9 0.01 %
Executive Fitness & Nutrition Inc.(#,^)8610 Roosevelt Ave Ste 2, Jackson Heights, NY 11372Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/23/202712.4 12.4 13.1 — %
Baton Rouge Cargo Services Inc. and 6507 Westport, LLC(#,^)6507 Westport Ave, Shreveport, LA 71129Truck TransportationTerm LoanPrime plus 2.75%3/22/2042585.2 585.2 660.6 0.21 %
The Purple Cow House of Pancake Inc(#,^)6 & 10 Skowhegan Rd, Fairfield, ME 04937Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/16/204265.2 65.2 73.6 0.02 %
Texcor, Inc.dba Texas Corral,Texas Coral Restaurants II, Inc. (#,^)5880 US Hwy6, Portage, IN 46368Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/16/2027203.6 203.6 215.0 0.07 %
1MTX LLC and Sunrise Transportation and Logistics, LLC and Mustafa(#,^)6510 North Broadway, Saint Louis, MO 63147Truck TransportationTerm LoanPrime plus 2.75%3/13/2027385.2 385.2 400.1 0.13 %
Dwayne Bernard Tate(#,^)1238 Woodcliff Court SW, Lilburn, GA 30047Truck TransportationTerm LoanPrime plus 2.75%3/10/20276.4 6.4 6.8 — %
Elegant Occasions, LLC dba E Productions(#,^)3650 Coral Ridge Dr Units 103-104, Coral Springs, FL 33065Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/10/2042555.1 555.1 626.7 0.20 %
Anthony LLC dba Star of Woodward Market(#,^)5730 Woodward Ave, Detroit, MI 48202Food and Beverage Stores Term LoanPrime plus 2.75%3/9/2042105.7 105.7 119.3 0.04 %
Podium Auto Sales Inc and RRS Property, LLC(#,^)246 S. Dixie Hwy, Pompano Beach, FL 33060Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/3/204283.2 83.2 93.9 0.03 %
Weeping Willow Kennels, Inc and Aileen N Black(#,^)6041 Hammond School Rd, Salisbury, MD 21804Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2042128.1 128.1 144.6 0.05 %
Getting Even LLC dba The Zoo Health Club(#,^)377 South Willow St. Unit B2-1, Manchester, NH 03103Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/28/202758.4 58.4 61.1 0.02 %
275
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
McNally Enterprises Inc.(#,^)1010 N. Grove St., Anaheim, CA 92806Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/27/202739.1 39.1 40.8 0.01 %
Teracore Inc.(#,^)3300 Holcomb Bridge Rd, Ste 226, Norcross, GA 30092Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/27/202799.3 99.3 103.2 0.03 %
B & J Bicycle Shop Inc.(#,^)1620 E. Sample Rd, Pompano Beach, FL 33064Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%2/24/20273.8 3.8 4.0 — %
3W Enterprises LLC(#,^)2727 Industrial Pkwy, Elkhart, IN 46516Textile Product MillsTerm LoanPrime plus 2.75%2/24/204259.3 59.3 66.9 0.02 %
TMJ Pizza Mesa LLC dba Rosati's Pizza Restaurant(#,^)2235 S. Power Rd Ste 118, Mesa, AZ 85209Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/24/202745.6 45.6 48.2 0.02 %
Ameritube, LLC and Ravone Properties, LLC(#,^)1000 North State. Hwy 77, Hillsboro, TX 76645Primary Metal ManufacturingTerm LoanPrime plus 2.75%2/14/2042171.2 171.2 193.3 0.06 %
Baton Rouge Cargo Services Inc. and 2808 Court Street, LLC(#,^)2808 Court St., Port Allen, LA 70767Truck TransportationTerm LoanPrime plus 2.75%2/10/2042226.8 226.8 256.0 0.08 %
Marvic Enterprises Inc dba Jordan's Liquor(#,^)199 Taunton Ave, East Providence, RI 02914Food and Beverage Stores Term LoanPrime plus 2.75%2/10/2042200.4 200.4 226.2 0.07 %
Maximo Canot dba Wash and Dry Laundrymat(#,^)34 Morningside Ave, Yonkers, NY 10703Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/10/2042126.0 126.0 142.2 0.05 %
Harrison Logging Company LLC(#,^)127 Legate Rd, Indian Mound, TN 37079Forestry and LoggingTerm LoanPrime plus 2.75%2/9/202765.8 65.8 68.9 0.02 %
8 Minute Oil Change Auto Repair & Tire Center and Jumir L.L.C.(#,^)174-176 Mountain Ave, Springfield, NJ 07081Repair and MaintenanceTerm LoanPrime plus 2.75%2/7/2042299.8 299.8 338.5 0.11 %
DBMS Consulting, Inc.(#,^)164 West 83rd St. Units 1F/1P, New York, NY 10024Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/1/2042172.3 172.3 194.6 0.06 %
Chidlren's House Learning, Inc and Tarps Investment Group(#,^)720 Wilbraham Rd, Springfield, MA 01109Social AssistanceTerm LoanPrime plus 2.75%1/31/2042293.4 293.4 331.3 0.11 %
Fave Realty Inc.(#,^)1875 Grand Ave, Baldwin, NY 11510Real EstateTerm LoanPrime plus 2.75%1/30/204249.8 49.8 56.2 0.02 %
SRC Publishing LLC(#,^)8690 Waterford Bend St., Las Vegas, NV 89123Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%1/27/202713.5 13.5 14.0 — %
Rhone Wolf Vineyard LLC, Goldline Brands Inc. and Myka Cellars, Inc.(#,^)5245 Bucks Bar Rd, Placerville, CA 95667Beverage and Tobacco Product ManufacturingTerm Loan8.25%1/19/2030203.5 203.5 198.5 0.06 %
Jolibe LLC and Jolibe Atelier LLC(#,^)357 w 36th #401, New York, NY 10018Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/18/20276.3 6.3 6.6 — %
Eickmann Management Group LLC dba Jimmy Johns of Dundee(#,^)568 Techumseh St., Dundee, MI 48131Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/17/202759.6 59.6 63.0 0.02 %
Fullbro Trust dba Menemsha Blues(#,^)2 Basin Rd, Chilmark, MA 02535Miscellaneous Store Retailers Term LoanPrime plus 2.75%1/13/202713.5 13.5 14.2 — %
Echelon Enterprises, Inc(#,^)16701 E. Iliff Ave, Aurora, CO 80013Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%1/10/202729.3 29.3 30.9 0.01 %
276
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Metropolitan Solutions Group Inc.(#,^)1420 Chestnut St., Portsmouth, VA 23704Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/19/2041250.4 250.4 282.7 0.09 %
Techni-Pro Institute LLC(#,^)414 NW 35th St., Boca Raton, FL 33431Educational ServicesTerm LoanPrime plus 2.75%12/15/2026111.9 111.9 116.4 0.04 %
Sempco, Inc.(#,^)51 -55 Lake St. Unit #2-6, Nashua, NH 03060Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/15/204138.2 38.2 43.2 0.01 %
New Chicago Wholesale Bakery, Inc.(#,^)795 Touhy Ave, Elk Grove Village, IL 60007Food ManufacturingTerm LoanPrime plus 2.75%12/15/2041426.1 426.1 481.0 0.16 %
Allied Welding Inc.(#,^)1820 N. Santa Fe Ave, Chillicothe, IL 61523Fabricated Metal Product ManufacturingTerm Loan5.25%12/15/2041711.0 711.0 690.8 0.22 %
Elita 7, LLC(#,^)16 Marble St., Worcester, MA 01603Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/15/2041669.9 669.9 756.4 0.24 %
Trison Enterprises Inc.dba Lee's Automotive(#,^)13281 Aurora Ave N, Seattle, WA 98311Repair and MaintenanceTerm LoanPrime plus 2.75%12/14/2041371.1 371.1 418.9 0.14 %
Wayfarer Bicycle LLC(#,^)118-120 Ocean Ave, New London, CT 06320Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%12/13/204184.2 84.2 95.1 0.03 %
Roast Beef Levittown LLC dba Arby's(#,^)2080 Hempstead Turnpike, East Meadow, NY 11554Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/13/2026125.2 125.2 131.8 0.04 %
Mack Team Enterprises Inc.dba The UPS Store #6815(#,^)38200 Ave of the States, Fort Gordon, GA 30905Couriers and MessengersTerm LoanPrime plus 2.75%12/9/202612.0 12.0 12.6 — %
eCommerce Direct, LLC(#,^)3440 Gannett Ave, Des Moines, IA 50321Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/2026457.5 457.5 477.0 0.15 %
Recycling Revolution,LLC(#,^)4190 Collins Rd, Unadilla, GA 31091Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/9/204181.9 81.9 92.4 0.03 %
New Life Hospital LLC(#)17400 Red Oak Dr, Houston, TX 77090HospitalsTerm LoanPrime plus 2.75%12/8/20411,110.7 1,110.7 1,254.0 0.41 %
Hanson's Greeks LLC(#,^)8132 N. 87th Place, Ste A, Scottsdale, AZ 85258Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/8/20266.6 6.6 7.0 — %
The Lake Shore Hospitality Inc dba Dowagiac Baymont Inn & Suites(#)29291 Amerihost Dr, Dowagiac, MI 49047AccommodationTerm Loan8.25%12/5/2041329.5 329.5 322.0 0.10 %
Pebble Wood Lane, LLC and Good Sam's Assisted Living Resiidence,LLC(#)1 Pebble Wood Lane, Palm Coast, FL 32164Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%11/30/204163.4 63.4 71.6 0.02 %
Quick Ship, LLC(#)448 W. 19th St, Houston, TX 77008Couriers and MessengersTerm LoanPrime plus 2.75%11/30/20266.1 6.1 6.3 — %
Imaginarium Foods LLC,(#,^)751 N. Cable Rd, Lima, OH 45805Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2042340.1 340.1 384.0 0.12 %
Access Staffing, LLC(#,^)360 Lexington Ave 8th Floor, New York, NY 10017Administrative and Support ServicesTerm LoanPrime plus 2.75%11/29/2026717.8 717.8 743.6 0.24 %
Usman Jalil, LLC dba Food Mart(#)147 N Washington St., Plainville, CT 06062Gasoline Stations Term LoanPrime plus 2.75%11/29/2041212.3 212.3 239.7 0.08 %
WPN Recycling Company LLC(#,^)5101 Andard Ave, Baltimore, MD 21226Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%11/23/202613.1 13.1 13.8 — %
CRK Mens, LLC dba Spiff for Men(#,^)750 Third Ave, New York, NY 10017Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/23/202661.6 61.6 64.0 0.02 %
277
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Broms Asset Management LLC(#,^)215 East 79th St. Apt 9E, New York, NY 10075Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%11/22/202672.5 72.5 75.1 0.02 %
JBK Truck Trailer and Bus Inc.(#)8669 S. State Rd 67, Camby, IN 46113Repair and MaintenanceTerm LoanPrime plus 2.75%11/22/2041377.4 377.4 426.1 0.14 %
Bouquet Restaurant LLC(#,^)519 Main St., Covington, KY 41011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/22/204188.2 88.2 99.5 0.03 %
Skaggs RV Outlet LLC(#,^)301 Commerce Dr, Elizabethtown, KY 42701Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%11/21/202658.2 58.2 61.3 0.02 %
Catherine Christine Morin dba Purr-Fect Pets(#,^)1915 North Austin Ave, Georgetown, TX 78626Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/17/202610.9 10.9 11.3 — %
Hoosier Health Plus, LLC(#,^)520 East 8th St., Anderson, IN 46012Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/15/202650.8 50.8 53.5 0.02 %
MIK LLC dba Firehouse Subs(#,^)17250 Royalton Rd, Strongsville, OH 44136Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/2026129.7 129.7 134.6 0.04 %
Dyer Properties, LLC and Bayview Pharmacy, Inc.(#)3844 Post Rd, Warwick, RI 02886Health and Personal Care Stores Term LoanPrime plus 2.75%11/9/2041218.8 218.8 247.0 0.08 %
Fine Line Interiors, Inc.(#)2530 SW 30th Ave, Hallandale Beach, FL 33009Repair and MaintenanceTerm LoanPrime plus 2.75%11/4/204156.7 56.7 64.0 0.02 %
131 Miles LLC and Ohm Shubh Laxmi, LLC. dba Mr Hero(#,^)13215 Miles Ave, Cleveland, OH 44105Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/3/2041104.0 104.0 117.4 0.04 %
Veracruz Shabo, LLC Waterfalls Quick Lube LLC (#)1325 Broad St., Central Falls, RI 02863Repair and MaintenanceTerm LoanPrime plus 2.75%11/1/2041107.9 107.9 121.8 0.04 %
Glocecol LLC(#,^)10302 NW South River Dr, Bay #18, Miami, FL 33178Administrative and Support ServicesTerm LoanPrime plus 2.75%11/1/202643.6 43.6 45.9 0.01 %
Moolchan Enterprises LLC dba Staying Green(#)2650 S.W. 154 Ave, Davie, FL 33331Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/20266.3 6.3 6.6 — %
Woodstock Enterprises Corp dba True Scent Candle Co(#)191 2nd Ave, Warwick, RI 02888Miscellaneous ManufacturingTerm LoanPrime plus 2.75%10/31/204180.5 80.5 90.9 0.03 %
Elite Structures Inc(#,^)401 Old Quitman Rd, Abel, GA 31620Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/27/2029160.8 160.8 174.7 0.06 %
Blakeslee Arpaia Chapman Inc and Chapman Construction Services LLC(#,^)200 North Branford Rd, Branford, CT 06405Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%10/24/2026243.8 243.8 256.7 0.08 %
Worldwide Estate, Inc. dba Washington Heights Manor(#,^)10620 W. Greenwood Terrace, Milwaukee, WI 53224Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%10/21/2041203.5 203.5 229.8 0.07 %
Gold Wind Logistics LLC(#)2830 Beech Daly Rd, Inkster, MI 48141Truck TransportationTerm LoanPrime plus 2.75%10/20/2041161.6 161.6 182.4 0.06 %
Speaker City, Inc. dba Rollin Thunder(#)246 East Belt Blvd, Richmond, VA 23224Electronics and Appliance Stores Term LoanPrime plus 2.75%10/14/2041113.4 113.4 128.0 0.04 %
Maine Service Corp(#)59-22 55th St., Maspeth, NY 11378Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%10/13/202694.1 94.1 99.1 0.03 %
Justin Partlow(#)100 Independence Place, Ste 414, Tyler, TX 75703Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%10/13/202611.2 11.2 11.6 — %
Reliable Recovery Services LLC(#)2401 West Mcdowell Rd, Phoenix, AZ 85009Support Activities for TransportationTerm LoanPrime plus 2.75%10/7/202664.5 64.5 67.5 0.02 %
278
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Wyspen Corporation dba Charlestown Ace(#)5 Austin St., Charlestown, MA 02129Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%10/3/202620.6 20.6 21.4 0.01 %
Ailky Corporation(#)352 Beford St., Lakeville, MA 02347Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%10/3/2026135.9 135.9 141.4 0.05 %
JJA Transportation Management Inc.(#)15 Church St., Upland, PA 19015Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/30/202626.8 26.8 27.8 0.01 %
Seaway LLC and Reklaw LLC dba Allure Lounge(#)415 -417 Halsey Dr, Newark, NJ 07102Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2041124.1 124.1 140.1 0.05 %
CNC Precision Machine, Inc.(#)18360 Industrial Circle, Burton, OH 44021Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/28/20411,157.4 1,157.4 1,306.7 0.42 %
CD Game Exchange Inc.(#)3719 N Mississippi, Portland, OR 97227Merchant Wholesalers, Durable Goods Term Loan8.25%9/28/20263.5 3.5 3.4 — %
Beadon Inc(#)2601 Old Ocean City Rd, Salisbury, MD 21804Food and Beverage Stores Term LoanPrime plus 2.75%9/28/202612.7 12.7 13.3 — %
Ridge Road Equestrian LLC dba Ricochet Ridge Ranch(#)24201 North Hwy 1, Fort Bragg, CA 95437Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%9/26/20265.1 5.1 5.3 — %
TPFC,LLC dbaThe Picture Frame Company(#)5957 Glenway Ave, Cincinnati, OH 45238Miscellaneous Store Retailers Term LoanPrime plus 2.75%9/26/204153.0 53.0 59.9 0.02 %
Cuppiecakes LLC(#)313 S Main St., McGregor, TX 76557Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/21/204120.3 20.3 22.9 0.01 %
Wrecking Crew Media LLC(#)229 Commercial Ave, Pittsburgh, PA 15212Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/21/202616.0 16.0 16.6 0.01 %
Metropet Dog Center, Inc(#)2057 West Shore Rd, Warwick, RI 02889Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/13/204198.6 98.6 111.3 0.04 %
Animal Intrusion Prevention Systems Holding Company, LLC dba Critter(#)1362-1366 W. Carrier Pkwy, Grand Prairie, TX 75050Administrative and Support ServicesTerm LoanPrime plus 2.75%8/30/202676.0 76.0 78.8 0.03 %
Raem Corporation dba Dryclean Express(#)557 West Whitney Rd, Fairport, NY 14450Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/29/204165.3 65.3 73.7 0.02 %
Warren Dale Warrington dba Custom Paint and Body(#)705 S Market Ave, Fort Pierce, FL 34982Repair and MaintenanceTerm LoanPrime plus 2.75%8/26/204191.2 91.2 103.0 0.03 %
TR Companies LLC dba Liberty Rental 4 U(#)410 N Church Rd, Liberty, MO 64068Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/25/202627.5 27.5 28.4 0.01 %
Rosmel Pools Inc(#)9300 NW 25th St. Ste 103, Miami, FL 33172Repair and MaintenanceTerm LoanPrime plus 2.75%8/25/202611.7 11.7 12.1 — %
Avery Management Inc. dba Whetstone Upholstery(#)1122 N Bloulevard, Richmond, VA 23230Repair and MaintenanceTerm LoanPrime plus 2.75%8/25/20265.7 5.7 5.9 — %
2 Cool Beans LLC dba Menchies's Frozen Yogurt(#)11331 Thienes Ave, South El Monte, CA 91733Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/11/202639.9 39.9 41.2 0.01 %
Grayson O Company(#)6509 Newell Ave, Kannapolis, NC 28082Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%8/10/2041563.0 563.0 635.6 0.21 %
Paul Belanger dba Paul Belanger Landscaping(#)2595 Military Ave, Los Angeles, CA 90064Administrative and Support ServicesTerm LoanPrime plus 2.75%8/9/20268.3 8.3 8.6 — %
The Hungry Rhino LLC(#)47 South Main St., Windsor Locks, CT 06096Real EstateTerm LoanPrime plus 2.75%7/29/204168.5 68.5 77.4 0.03 %
279
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
USA General Investment LLC dba Braniff Paint and Body Shop(#)2290 NW 21st Terrace, Miami, FL 33142Repair and MaintenanceTerm LoanPrime plus 2.75%7/29/202612.3 12.3 12.8 — %
Little Tree Huggers Child Care LLC(#)38620 9 Mile Rd, Farmington Hills, MI 48335Social AssistanceTerm LoanPrime plus 2.75%7/29/2041125.8 125.8 142.1 0.05 %
303 Tower Drive LLC(#)303 Tower Dr, Ste A, Middletown, NY 10941Repair and MaintenanceTerm LoanPrime plus 2.75%7/29/2041359.8 359.8 406.2 0.13 %
676 Club LP dba The Green Door Tavern/The Drifter(#)676 and 678 North Orleans ST, Chicago, IL 60654Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/28/2041622.6 622.6 702.9 0.23 %
Intrepid Trinity LLC(#)680 Douglas Ave, Providence, RI 02908Nonstore Retailers Term LoanPrime plus 2.75%7/28/204156.2 56.2 63.4 0.02 %
EPEC Juice LLC dba Jamba Juice(#)810 Ninth St., Ste 128, Durham, NC 27705Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/27/202645.7 45.7 47.2 0.02 %
JAG Unit 1, LLC dba Arooga's Grille House and Sports Bar(#)1 West Main St., Patchogue, NY 11772Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/27/202672.8 72.8 75.2 0.02 %
My Sainath Inc dba Motel 6(#)1008 E Crest Dr, Waco, TX 76705AccommodationTerm LoanPrime plus 2.75%7/22/2041282.9 282.9 319.4 0.10 %
Robert G Larson State Farm Insurance(#)7922 Jamaica Ave, Woodhaven, NY 11421Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/22/202612.3 12.3 12.7 — %
Robert P Daniels dba Ginger and Friend's Peppermint Village Gift Shop(#)1502 Hwy 157, Mansfield, TX 76063Miscellaneous Store Retailers Term LoanPrime plus 2.75%7/18/20268.6 8.6 8.9 — %
Franklin Firm LLC dba Luv 2 Play(#,^)1310 East Stan Schleuter Loop, Killeen, TX 76542Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/15/204141.2 41.2 46.5 0.02 %
Martin Inventory Management LLC(#)304 1/2 Main St., Edgefield, SC 29824Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%6/30/202613.3 13.3 14.0 — %
P L H Pharmaco Inc dba Farmacia San Jose(#)149 48th St., Union City, NJ 07087Health and Personal Care Stores Term LoanPrime plus 2.75%6/30/202686.2 86.2 90.5 0.03 %
Desert Tacos LLC(#)245 East Bell Rd Ste A-2, Phoenix, AZ 85022Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/202654.6 54.6 57.3 0.02 %
VMA Technologies LLC(#)120 South Serenata Dr Unit 332, Ponte Vedra Beach, FL 32082Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/202612.1 12.1 12.6 — %
Corning Lumber Company Inc and Frank R Close and Son Inc(#)1314 Sixth St., Orland, CA 95963Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/30/2029133.6 133.6 145.4 0.05 %
WGI, LLC dba Williams Grant Inn(#)154 High St., Bristol, RI 02809AccommodationTerm LoanPrime plus 2.75%6/29/2041110.3 110.3 124.6 0.04 %
O.D.S. Inc dba Four Seasons Health & Racquet and Step 'N' Motion, Inc(#)626 Delsea Dr N, Glassboro, NJ 08028Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/29/202675.5 75.5 78.8 0.03 %
Island Time Investments, LLC dba Swantown Inn Bed & Breakfast(#)1431 11th Ave SE, Olympia, WA 98501AccommodationTerm LoanPrime plus 2.75%6/24/204190.8 90.8 102.5 0.03 %
Visual Advantage LLC dba Signs Now Perryberg(#)23248 Dunbridge Rd, Perrysburg, OH 43443Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/23/204181.8 81.8 92.4 0.03 %
280
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Long Island Comedy LLC dba Governors and New York Comedy, LLC(#)90 A Division Ave, Levittown, NY 11756Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/23/2041173.5 173.5 195.9 0.06 %
Shooting Sports Academy LLC and Jetaa LLC dba Shooting Sports Academy(#,^)27 Main St., Monroe, CT 06468Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/23/2041447.0 447.0 504.6 0.16 %
Bagelicious, LLC(#)945 S Main St, Cheshire, CT 06410Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/17/202629.4 29.4 30.6 0.01 %
Blue Eagle Transport Inc, Greeneagle Transport Inc and Golden Eagle (#)377 Boston Post Rd, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%6/16/2026273.7 273.7 285.3 0.09 %
Jai-Alexia Consulting, Inc.(#)14660 Paddock Dr, Wellington, FL 33414Couriers and MessengersTerm LoanPrime plus 2.75%6/15/20266.4 6.4 6.6 — %
Pumpkin Patch Child Care of Southington, LLC and Giuseppe Pugliares(#)1137 West St., Southington, CT 06489Social AssistanceTerm LoanPrime plus 2%6/15/2041457.4 457.4 516.3 0.17 %
Luv 2 Play AZ LLC(#)15495 Bell Rd, Surprise, AZ 85374Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/10/202640.0 40.0 42.0 0.01 %
Refoleen Inc dba Spice and Tea Exchange(#)849 East Commerce St., Ste 121, San Antonio, TX 78205Food and Beverage Stores Term LoanPrime plus 2.75%6/10/202646.5 46.5 48.5 0.02 %
Larry H. Patterson and Rainbow Movers, Inc(#)2325 Hollers Ave, Bronx, NY 10475Truck TransportationTerm LoanPrime plus 2.75%6/6/202612.1 12.1 12.6 — %
AP5 LLC dba Krauser's Food Store(#)5 Pond Point Rd, Milford, CT 06460Food and Beverage Stores Term LoanPrime plus 2.75%6/2/2041173.8 173.8 196.2 0.06 %
ATI Jet Inc(#)7007 Boeing Dr, El Paso, TX 79925Air TransportationTerm LoanPrime plus 2.75%5/31/2026307.3 307.3 321.3 0.10 %
Angelo Faia dba AVF Construction(#,^)55 Arbour Lane, Sewell, NJ 08080Construction of BuildingsTerm LoanPrime plus 2.75%5/27/204189.8 89.8 101.4 0.03 %
Premier Athletic Center of Ohio, Inc(#)8957 Kingsridge Dr, Centerville, OH 45459Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/27/202646.4 46.4 48.7 0.02 %
Southwest Division Inc(#)2103 NE 3rd Terrace, Cape Coral, FL 33909Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%5/26/20264.4 4.4 4.6 — %
Jack Frost Firewood Inc. and David Dubinsky(#)3168 Holland Rd, Virginia Beach, VA 23453Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%5/26/2041184.6 184.6 208.4 0.07 %
International Kitchen Supply LLC(#)3466 North Hwy 11, West Union, SC 29696Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%5/25/2026119.9 119.9 125.4 0.04 %
Island Life Graphics Inc dba FASTSIGNS #576(#)1410 E. Oak St., Fernandina Beach, FL 32034Miscellaneous ManufacturingTerm LoanPrime plus 2.75%5/24/202611.9 11.9 12.4 — %
Powerspec Inc(#)1 Linsley Place, Metuchen, NJ 08840Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/24/202646.1 46.1 48.0 0.02 %
Horseshoe Barbecue, LLC(#)6555, 6565, 6575 N. Sandario Rd, Tucson, AZ 85743Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/23/20295.1 5.1 5.5 — %
Elderfriend Inc dba Granny Nannies dba GN Live Scan(#)1499 W. Palmetto Park Rd., Ste #115, Boca Raton, FL 33486Social AssistanceTerm LoanPrime plus 2.75%5/20/20266.8 6.8 7.0 — %
HBA LLC dba Palmetto Twist-Vista(#)1225-1229 Lincoln St., Columbia, SC 29201Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/202610.3 10.3 10.7 — %
281
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Dedicated Incorporated(#)2916 North 39th St., Phoenix, AZ 85019Administrative and Support ServicesTerm LoanPrime plus 2.75%5/18/204141.6 41.6 47.0 0.02 %
FJN Catering Inc(#)106 Main St., Mineola, NY 11951Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/13/2041234.1 234.1 264.3 0.09 %
Pumpkin Patch Inc and Christine Feliciano and Antonio Feliciano(#)11 Kirby Rd, Cromwell, CT 06419Social AssistanceTerm LoanPrime plus 2.75%5/12/2041118.6 118.6 133.9 0.04 %
Sabir Inc. dba Bear Diner(#)603 Pulaski Hwy, Bear, DE 19701Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/11/2041110.8 110.8 125.1 0.04 %
Marc S. Rosenberg P.C. dba Mammuth and Rosenberg(#)401 East City Ave Ste 122, Bala Cynwyd, PA 19004Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/29/202611.7 11.7 12.2 — %
Warner Home Comfort, LLC dba Smith Piping(#)1571 Canton Rd., NW, Carrollton, OH 44615Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/29/204173.7 73.7 83.2 0.03 %
Hard Exercise Works Winter Park LLC(#)11551 University Blvd, Ste. 4C Building 1, Orlando, FL 32817Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/29/202621.2 21.2 22.1 0.01 %
Alpha Omega Trucking LLC(#)14432-52 State Line Rd, Brookings, OR 97415Truck TransportationTerm LoanPrime plus 2.75%4/29/2041157.1 157.1 177.4 0.06 %
Empowerschool LLC and Empower Autism Academy, LLC(#)1250 South A. W. Grimes Rd, Round Rock, TX 78665Social AssistanceTerm LoanPrime plus 2.75%4/29/2041135.7 135.7 153.2 0.05 %
Loriet LLC(#)5001 Vivienda Way, Sarasota, FL 34235Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%4/29/20263.9 3.9 4.1 — %
Costume World Inc(#)950 South Federal Hwy, Deerfield Beach, FL 33441Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%4/28/20411,153.3 1,153.3 1,302.1 0.42 %
Accent Comfort Services, LLC(#)5035-C West W. T. Harris Blvd, Charlotte, NC 28269Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/26/202646.9 46.9 48.9 0.02 %
Automotive Core Recycling, LLC and 828 Old Colony Road, LLC(#)27-29 Cooper St., Meriden, CT 06053Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%4/22/2041223.3 223.3 252.1 0.08 %
AAA Mill Direct, Inc. dba Carpet Mill Outlets(#)1 North Armistead Ave, Hampton, VA 23669Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%4/21/20264.1 4.1 4.3 — %
KNS Early Learning Academy LLC(#)57 Merritt St. SE, Marietta, GA 30060Social AssistanceTerm LoanPrime plus 2.75%4/6/204145.6 45.6 51.5 0.02 %
Waterfalls Quick Lube LLC and Veracruz Shabo LLC(#)1325 Broad St., Central Falls, RI 02863Repair and MaintenanceTerm LoanPrime plus 2.75%4/6/2041245.9 245.9 277.6 0.09 %
Vehicle Safety Supply LLC(#)15 East 72nd St., Ste 14-H, New York, NY 10021Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/31/202611.5 11.5 12.0 — %
Dana A. Farley dba Independent Cabinets(#)5805 NE Minder Rd, Poulsbo, WA 98370Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%3/31/204157.5 57.5 64.9 0.02 %
Christian Soderquist dba Soderquist Plumbing and Heating LLC(#)7 Oak Dr, Sandy Hook, CT 06482Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/31/204150.6 50.6 57.1 0.02 %
Cameo Carter, MD A Professional Corporation dba The Garden Pediatric(#)101 East Redlands Blvd., Ste 106, Redlands, CA 92373Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/202638.4 38.4 40.0 0.01 %
MTS Car Service LLC(#)9 Gibson Court Apt# 1, Norwalk, CT 06854Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%3/30/20265.4 5.4 5.6 — %
282
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Gordon Rogers and Heidi Rogers dba Stone House Motor Inn(#)162 Danielson Pike, Foster, RI 02825AccommodationTerm LoanPrime plus 2.75%3/30/202611.7 11.7 12.2 — %
Wyldewood Cellars, Inc.(#)951 East 119th St, Mulvane, KS 67120Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%3/30/2041932.5 932.5 1,052.8 0.34 %
Barrocas Gym LLC dba Snap Fitness(#)260 West Main St., Avon, CT 06001Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/29/20269.6 9.6 10.0 — %
Marathon Engineering Corporation(#)5615 2nd St. W, Lehigh Acres, FL 33971Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/28/204140.1 40.1 45.3 0.01 %
Revolution Physical Therapy LLC dba Apex Network Physical Therapy(#)2705 Dougherty Ferry Rd Ste 104, St. Louis, MO 63122Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/25/202611.7 11.7 12.2 — %
ActKnowledge, Inc(#)365 5th Ave, New York, NY 10016Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/24/202664.1 64.1 67.1 0.02 %
Precious Care LLC and Precious Care Management LLC(#)186-06 Union Turnpike, Fresh Meadows, NY 11364Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/21/2026272.6 272.6 283.5 0.09 %
Kekoa Enterprises Inc dba Signarama Sandy(#)8942 South 700 East, Sandy, UT 84070Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/18/202625.4 25.4 26.4 0.01 %
Taylors Zinn Enterprises Inc dba Eons Auto Care Inc(#)330 West Harden St., Graham, NC 27253Repair and MaintenanceTerm LoanPrime plus 2.75%3/18/204172.2 72.2 81.5 0.03 %
Brian T Rice dba BD Logging(#)800 3rd St Apt B, St Marys, WV 26170Forestry and LoggingTerm LoanPrime plus 2.75%3/17/20260.9 0.9 1.0 — %
R & D Enterprises Inc dba My Pool Man(#)291 North Texas Ave., Orlando, FL 32805Administrative and Support ServicesTerm LoanPrime plus 2.75%3/15/202625.6 25.6 26.6 0.01 %
Mustafa Inc and Raouf Properties LLC(#)3538 Pin Oak Dr, San Antonio, TX 78229Food and Beverage Stores Term LoanPrime plus 2.75%3/14/204166.7 66.7 75.4 0.02 %
Dupre Capital LLC dba Fastsigns(#)215 Quartermaster Court, Jeffersonville, IN 47130Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/11/202629.9 29.9 31.1 0.01 %
Step Up Academy of the Arts LLC(#)2558 Wigwam Pkwy Ste A, Henderson, NV 89074Educational ServicesTerm LoanPrime plus 2.75%3/9/20264.1 4.1 4.3 — %
Faith Summit Supply Inc dba Summit Supply and Summit True Value(#)8584 US Business Hwy 277, Haskell, TX 79521Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%3/9/202611.5 11.5 12.1 — %
Swerve Salon LLC(#)1419 N Wells St., Chicago, IL 60610Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/8/202640.5 40.5 42.1 0.01 %
J & W Hardwood Flooring Inc(#)14967 Madison St, Brighton, CO 80602Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/7/20263.8 3.8 4.0 — %
Living Essentials HVAC Corp(#)42 West St., Apt 24, Randolph, MA 02368Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/20267.6 7.6 7.9 — %
The River Beas, LLC dba Subway and Punam Singh(#)5516 Baltimore Ave, Hyattsville, MD 20781Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2041120.3 120.3 135.8 0.04 %
Drug Detection Laboratories, Inc. and Minh Tran(#)9700 Business Park Dr, Sacramento, CA 95827Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/28/202610.0 10.0 10.4 — %
Aaradhya LLC dba Market Square Laundry(#)7727 Crittenden St., Philadelphia, PA 19118Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/23/202639.0 39.0 40.6 0.01 %
Ei3 Corporation(#)136 Summit Ave, Montvale, NJ 07645Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/12/2026164.7 164.7 172.5 0.06 %
283
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Gilmore Heights Dental Holdings, LTD and Chas Rob LLC(#)2250 Warrensville Center Rd, University Heights, OH 44118Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/12/2029204.8 204.8 221.1 0.07 %
Jersey Shore Marina & Boat Sales, Inc.(#)841 Route 70 East, Brick, NJ 08724Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/12/2041384.0 384.0 433.6 0.14 %
Wildflour Bakery & Cafe LLC(#)5137 Clareton Dr., Ste 100, Agoura Hills, CA 91301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/28/202631.0 31.0 32.4 0.01 %
Dolarian Realty LLC and OV's Restaurant Inc(#)34 Old Colony Ave, East Taunton, MA 02718Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/5/204160.1 60.1 67.9 0.02 %
Lemonberry Food Stores Inc dba Lemonberry Frozen Yogurt(#)1196 Inverness Lane, Stow, OH 44224Food and Beverage Stores Term LoanPrime plus 2.75%12/29/202554.7 54.7 56.9 0.02 %
MCF Forte LLC(#)1245 W Baseline Rd Unit 105, Mesa, AZ 85202Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/29/20259.1 9.1 9.5 — %
Panditos LLC dba White Lotus Home(#)431 Raritan Ave, Highland Park, NJ 08904Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/28/20257.7 7.7 8.0 — %
800 on the Trax LLC and Matrix Z LLC(#)800 SW 21st Terrace, Fort Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%12/23/2040228.7 228.7 258.2 0.08 %
Ridge Road Equestrian LLC dba Ricochet Ridge Ranch Inc(#)24201 North Hwy 1, Fort Bragg, CA 95437Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/23/204090.7 90.7 102.4 0.03 %
Joyce Outdoor Advertising Chicago LLC(#)2443 West 16th St., Chicago, IL 60608Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/22/2040266.7 266.7 301.1 0.10 %
Premier Athletic Center of Ohio Inc. and Gates Investments and Wade(#)8957 Kingsridge Dr, Centerville, OH 45459Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/22/2028570.8 570.8 616.5 0.20 %
Hattingh Incorporated dba Prosthetic Care Facility(#)4415 Woodridge Pkwy, Ste 180, Leesburg, VA 20176Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/20258.8 8.8 9.1 — %
Accent Tag and Label Inc(#)2201 Rittenhouse St, Des Moines, IA 50321Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%12/18/2040586.6 586.6 662.2 0.21 %
Trip Consultants U.S.A. Inc.(#)311 85th St., Brooklyn, NY 11209Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/202580.8 80.8 83.8 0.03 %
Sourceco Limited Liability Company(#)17 Palmer Ave, West Long Branch, NJ 07764Merchant Wholesalers, Nondurable Goods Term Loan6.5%12/17/202521.8 21.8 21.5 0.01 %
Abitino's JFK LLC dba Abitino's(#)Terminal 8 JFK ExpressWay Airport, Jamaica, NY 11430Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/202226.8 26.8 27.0 0.01 %
JAG Unit 1, LLC(#)1 West Main St., Patchogue, NY 11772Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/2025130.3 130.3 135.1 0.04 %
Swalm Street LLC and New York Home Health Care Equipment LLC(#)30 Hopper St., Westbury, NY 11590Ambulatory Health Care ServicesTerm Loan7.5%12/16/2040360.0 360.0 352.6 0.11 %
Moments to Remember USA LLC dba Retain Loyalty(#)1250 Sanders Ave SW, Massillon, OH 44646Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/16/202545.3 45.3 47.2 0.02 %
New York Home Health Care Equipment, LLC(#)30 Hopper St., Westbury, NY 11590Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/16/2025496.4 496.4 518.3 0.17 %
Basista Family Limited Partnership and UPE, Inc.(#)3401 Brecksville Rd, Richfield, OH 44286Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%12/14/2040303.0 303.0 342.1 0.11 %
284
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
DC Enterprises Ltd. dba Lakeview True Value(#)318 North F St., Lakeview, OR 97630Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%12/14/202510.9 10.9 11.4 — %
LC Blvd Holdings LLC and Mt Pleasant Wash & Wax LLC(#)880 Lowcountry Blvd, Mount Pleasant, SC 29464Repair and MaintenanceTerm LoanPrime plus 2.75%12/4/2040444.7 444.7 502.0 0.16 %
DWeb Studio, Inc.(#)10800 E. Bethany Dr, Ste 275, Aurora, CO 80014Educational ServicesTerm LoanPrime plus 2.75%11/25/20255.4 5.4 5.6 — %
Ronny Ramirez RX Corp dba Naturxheal Family Pharmacy(#)3105 NW 107 Ave Ste 102, Doral, FL 33172Health and Personal Care Stores Term LoanPrime plus 2.75%11/20/202542.7 42.7 44.3 0.01 %
S.B.B. Enterprises Inc dba Williamston Hardware(#,^)139 S Putnam St., Williamston, MI 48895Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%11/19/204095.8 95.8 108.1 0.03 %
Financial Network Recovery Inc(#,^)250 E Easy St. Ste 1, Simi Valley, CA 93065Administrative and Support ServicesTerm LoanPrime plus 2.75%10/26/202518.8 18.8 19.4 0.01 %
ADMO Inc dba Mid States Equipment(#,^)16180 Westwoods Business Park, Ellisville, MO 63021Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%10/8/202510.5 10.5 10.9 — %
R.H. Hummer Jr., Inc.(#,^)2141 P Ave, Williamsburg, IA 52361Truck TransportationTerm LoanPrime plus 2.75%9/30/2025187.1 187.1 195.4 0.06 %
Barub Realty LLC and Barub LLC dba Woodlawn Cabinets(#,^)1838 Adee Ave, Baychester, NY 10469Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%9/30/204080.3 80.3 90.6 0.03 %
Binky's Vapes LLC(#,^)10539 Greenbelt Rd Ste 102, Lanham, MD 20706Miscellaneous Store Retailers Term LoanPrime plus 2.75%9/30/202510.3 10.3 10.7 — %
Greensward of Marco Inc.(#,^)54 Marco Lake Dr, Marco Island, FL 34146Administrative and Support ServicesTerm LoanPrime plus 2.75%9/28/204077.6 77.6 87.6 0.03 %
RIM Investments LLC and RIM Architects LLC(#,^)645 G St. Ste 400, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/28/2040350.5 350.5 395.7 0.13 %
Daniel W. Stark dba Mountain Valley Lodge and RV Park(#,^)223 Hwy 80, Rodeo, NM 88056AccommodationTerm LoanPrime plus 2.75%9/25/204011.9 11.9 13.4 — %
Prestigious LifeCare for Seniors LLC(#,^)5701 North Pine Island Rd, Tamarac, FL 33321Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/25/20254.5 4.5 4.7 — %
St Lawrence Hotel Corp and Oheka Catering Inc dba Quality Inn(#,^)10 West Orvis St., Massena, NY 13662AccommodationTerm LoanPrime plus 2.75%9/24/2040549.1 549.1 619.9 0.20 %
Finish Strong Inc dba FASTSIGNS St Peters(#,^)98 North Hillview Dr, St Peters, MO 63376Miscellaneous ManufacturingTerm LoanPrime plus 2.75%9/23/202523.0 23.0 23.7 0.01 %
Sound Manufacturing Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/202522.8 22.8 23.6 0.01 %
Vanderhoof LLC dba Soxfords(#,^)11 Sellecks Walk, Pound Ridge, NY 10576Apparel ManufacturingTerm LoanPrime plus 2.75%9/18/20254.7 4.7 4.9 — %
MiJoy Inc dba Imo's Pizza(#,^)215 South Kirkwood Rd, Kirkwood, MO 63122Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/18/20253.8 3.8 3.9 — %
Naeem Khan LTD(#,^)260 West 36h St., New York, NY 10018Apparel ManufacturingTerm LoanPrime plus 2.75%9/17/202557.5 57.5 59.4 0.02 %
FirstVitals Health and Wellness Inc(#,^)521 Ala Moana Blvd. Ste 261, Honolulu, HI 96813Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%9/15/202579.6 79.6 82.3 0.03 %
285
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Gardner's Wharf Holdings LLC and Gardner's Wharf Seafood Inc(#,^)170 Main St., North Kingstown, RI 02852Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%9/8/2040123.1 123.1 139.0 0.04 %
Empower Autism Academy(#,^)1250 South A. W. Grimes Rd, Round Rock, TX 78665Social AssistanceTerm LoanPrime plus 2.75%9/4/2040601.8 601.8 679.4 0.22 %
Elite Institute LLC dba Huntington Learning Center(#,^)13526 Village Park Dr Ste 214, Orlando, FL 32837Educational ServicesTerm LoanPrime plus 2.75%8/28/20256.8 6.8 7.1 — %
God Be Glorified Inc dba GBG Inc(#,^)40 West. 162nd St, South Holland, IL 60473Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/20/202523.9 23.9 24.7 0.01 %
GDP Gourmet LLC dba Joe and John's Pizza Restaurant(#,^)136 New Jersey Ave, Absecon, NJ 08201Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/19/2040127.0 127.0 143.4 0.05 %
Gold Jet Corp.(#,^)2472 Broadway, New York, NY 10025Couriers and MessengersTerm LoanPrime plus 2.75%8/14/202534.7 34.7 36.0 0.01 %
SKJ Inc dba Subway(#,^)401 S Woodlawn Ave, Bloomington, IN 47401Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/13/202541.7 41.7 43.2 0.01 %
LP Industries Inc dba Childforms(#,^)110 Charleston Dr, Mooresville, NC 28117Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%7/29/202566.3 66.3 69.0 0.02 %
Free Ion Advisors LLC(#,^)322 Evandale Rd, Scarsdale, NY 10583Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/21/202528.4 28.4 29.3 0.01 %
Murrayville Donuts, Inc dba Dunkin' Donuts(#)2304 N College Rd, Wilmington, NC 28405Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/2040319.9 319.9 361.1 0.12 %
Jonathan E Nichols and Nichols Fire and Security LLC(#,^)1906 Vanderhorn Dr, Memphis, TN 38134Administrative and Support ServicesTerm LoanPrime plus 2.75%6/30/202532.4 32.4 33.7 0.01 %
Thrifty Market, Inc. dba Thrifty Foods(#,^)702 10th St, Wheatland, WY 82201Food and Beverage Stores Term LoanPrime plus 2.75%6/30/2030193.0 193.0 212.3 0.07 %
Summit Beverage Group LLC(#,^)211 Washington Ave, Marion, VA 24354Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%8/29/2030201.9 201.9 222.3 0.07 %
E & G Enterprises LLC dba Comfort Keepers(#,^)220 Middle St., Franklin, VA 23851Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/26/20259.7 9.7 10.1 — %
SofRep, Inc dba Force 12 Media(#,^)930 Tahoe Blvd Ste 802-543, Incline Village, NV 89451Other Information ServicesTerm LoanPrime plus 2.75%6/26/202534.4 34.4 35.6 0.01 %
TJU-DGT Inc dba The Lorenz Cafe(#,^)714-718 Lorenz Ave, Pittsburgh, PA 15220Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/202913.4 13.4 14.6 — %
Jihan Inc dba ARCO AM/PM and Diana Inc dba Diana's Recycling(#,^)13886 Campo Rd, Jamul, CA 91935Gasoline Stations Term LoanPrime plus 2.75%6/26/2040331.4 331.4 374.2 0.12 %
CEM Autobody LLC dba Dawn's Autobody(#,^)7 Division St, Keyport, NJ 07735Repair and MaintenanceTerm LoanPrime plus 2.75%6/26/2040118.2 118.2 133.4 0.04 %
Wolf Enviro Interests, LLC and Enviromax Services Inc(#,^)18002 Mueschke Rd, Cypress, TX 77433Administrative and Support ServicesTerm LoanPrime plus 2.75%6/25/2040215.0 215.0 242.7 0.08 %
Ohs Auto Body, Inc. dba Ohs Body Shop(#,^)3560 Hwy 93 South, Kalispell, MT 59901Repair and MaintenanceTerm Loan7.22%6/25/20401,070.0 1,070.0 1,048.1 0.34 %
Evinger PA One, Inc. dba Postal Annex, Falcon(#,^)7661 McLaughlin Rd, Falcon, CO 80831Miscellaneous Store Retailers Term LoanPrime plus 2.75%6/24/202510.0 10.0 10.4 — %
RJI Services, Inc.(#,^)353 E Angeleno Ste G, Burbank, CA 91502Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/23/20259.7 9.7 10.1 — %
286
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Real Help LLC dba Real Help Decorative Concrete(#,^)2221 Broadway St., Buffalo, NY 14212Administrative and Support ServicesTerm LoanPrime plus 2.75%6/22/202523.0 23.0 23.9 0.01 %
KRN Logistics, LLC and Newsome Trucking, Inc(#)2262 Hwy 53 W, Jasper, GA 30143Truck TransportationTerm LoanPrime plus 2.75%6/19/202559.2 59.2 61.5 0.02 %
Inverted Healthcare Staffing of Florida LLC dba Interim Healthcare(#,^)111 N Pompano Beach Blvd., Pompano Beach, FL 33062Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/18/202520.1 20.1 20.9 0.01 %
AM PM Properties, LLC and AM PM Willington, LLC(#,^)1308 Stafford Rd, Storrs Mansfield, CT 06268Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/17/204075.7 75.7 85.5 0.03 %
Mirage Plastering Inc and Mpire LLC and Mpire II LLC(#,^)1802 W Grant Rd Ste 114, Tucson, AZ 85745Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/12/2040121.0 121.0 136.6 0.04 %
Eldredge Tavern LLC dba Gonyea's Tavern(#,^)150 Main St., Pascoag, RI 02859Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/8/2040$49.1 $49.1 $55.4 0.02 %
ViAr Visual Communications, Inc. dba Fastsigns 281701(#,^)4721 University Way NE, Seattle, WA 98105Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/5/2025$26.8 $26.8 $27.8 0.01 %
Medworxs LLC(#,^)10901 W. Toller Dr, Littleton, CO 80127Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/3/2025$54.0 $54.0 $56.0 0.02 %
DTM Parts Supply Inc.(#)31 Sageman St, Mount Vernon, NY 10550Merchant Wholesalers, Durable Goods Term Loan7%6/2/2025$35.4 $35.4 $35.0 0.01 %
XCESSIVE THROTTLE, INC dba Jake's Roadhouse(#,^)5980 Lamar St., Arvada, CO 80003Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/2025$3.5 $3.5 $3.6 — %
Villela CPA PL(#,^)777 Brickell Ave, Ste 500, Miami, FL 33131Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/27/2025$3.8 $3.8 $3.9 — %
Douglas Posey and Sally Watkinson dba Audrey's Farmhouse(#,^)2188 Brunswyck Rd, Wallkill, NY 12589AccommodationTerm LoanPrime plus 2.75%5/20/2040$151.5 $151.5 $171.1 0.06 %
15 McArdle LLC and No Other Impressions Inc(#,^)15 McArdle St., Rochester, NY 14611Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%5/15/2040$160.3 $160.3 $180.9 0.06 %
South Park Properties LLC and Midlothian Hardware LLC(#,^)4751 147th St., Midlothian, IL 60445Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%5/6/2040$41.6 $41.6 $46.9 0.02 %
Matthew Taylor and Landon Farm LLC(#)6103 N Church St, Greensboro, NC 27455Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/4/2040$87.5 $87.5 $98.8 0.03 %
Cares Inc dba Dumpling Grounds Day Care Center(#,^)4508 Blakiston St., Philadelphia, PA 19136Social AssistanceTerm LoanPrime plus 2.75%5/1/2040$70.5 $70.5 $79.6 0.03 %
Diamond Solutions LLC(#,^)7845 East Evans Rd. Ste A, Scottsdale, AZ 85260Merchant Wholesalers, Durable Goods Term LoanPrime plus 2.75%4/21/2025$8.0 $8.0 $8.3 — %
Faramarz Nikourazm dba Car Clinic Center(#,^)10707 Shady Trail, Dallas, TX 75220Repair and MaintenanceTerm LoanPrime plus 2.75%4/3/2040$63.8 $63.8 $72.0 0.02 %
Copper Beech Financial Group LLC(#,^)1223 North Church St., Moorestown, NJ 08057Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%3/30/2025$50.6 $50.6 $52.4 0.02 %
Sunset Marine Resort LLC and GoXpeditions LLC and Lavon Gomes(#,^)40 Buzzard Ridge Rd, Sequim, WA 98382AccommodationTerm LoanPrime plus 2.75%3/27/2040$261.3 $261.3 $295.0 0.10 %
Shorr Enterprises Inc dba New Design Furniture Manufacturers(#,^)3033 NW 28 St., Lauderdale Lakes, FL 33311Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%3/27/2025$43.1 $43.1 $44.7 0.01 %
287
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Shellhorn and Hill Inc dba Total Fleet Service(#,^)501 South Market St, Wilmington, DE 19801Nonstore Retailers Term LoanPrime plus 2.75%3/27/2040$423.2 $423.2 $477.8 0.15 %
Foresite Realty Partners LLC and Foresite Real Estate Holdings LLC(#,^)5600 N. River Rd #925, Rosemont, IL 60018Real EstateTerm LoanPrime plus 2.75%3/27/2025$512.3 $512.3 $529.5 0.17 %
Joyce Outdoor Advertising NJ LLC and Joyce Outdoor Advertising LLC(#,^)800 James Ave, Scranton, PA 18510Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/26/2040$46.7 $46.7 $52.8 0.02 %
Zero-In Media Inc(#,^)1123 Broadway Ste 704, New York, NY 10010Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%3/25/2025$9.1 $9.1 $9.4 — %
Loriet LLC(#,^)5001 Vivienda Way, Sarasota, FL 34235Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%3/24/2025$4.9 $4.9 $5.0 — %
Shelton Incorporated dba Mrs. Winners(#,^)4509 N. Henry Blvd., Stockbridge, GA 30281Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/20/2040$97.4 $97.4 $110.0 0.04 %
Jaymie Hazard dba Indigo Hair Studio and Day Spa(#,^)2016 Warwick Ave, Warwick, RI 02889Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/20/2040$37.3 $37.3 $42.2 0.01 %
R & R Security and Investigations Inc dba Pardners Lake Buchanan(#,^)15615 State Route 29, Buchanan Dam, TX 78609Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/19/2040$73.8 $73.8 $83.4 0.03 %
MMS Realty, LLC and Molecular MS Diagnostics LLC(#,^)1224 Greenwich Ave, Warwick, RI 02886Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/18/2040$132.9 $132.9 $150.0 0.05 %
Royal Crest Motors LLC(#,^)769 Amesbury Rd, Haverhill, MA 01830Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%3/16/2040$79.0 $79.0 $89.2 0.03 %
Luigi's on Main LLC and Luigi's Main Street Pizza Inc(#,^)491 Montauk Hwy, Eastport, NY 11941Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/4/2025$4.6 $4.6 $4.7 — %
Pace Motor Lines, Inc.(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Truck TransportationTerm LoanPrime plus 2.75%2/26/2025$25.8 $25.8 $26.8 0.01 %
Kingseal LLC dba Desoto Health and Rehab Center(#,^)475 Nursing Home Dr, Arcadia, FL 34266Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%2/26/2040$1,103.9 $1,103.9 $1,246.3 0.40 %
Kiddie Steps 4 You Inc.(#,^)1700 West 63rd St., Chicago, IL 60636Social AssistanceTerm LoanPrime plus 2.75%2/19/2040$53.8 $53.8 $60.8 0.02 %
Grand Blanc Lanes, Inc. and H, H and H, LLC(#,^)5301 S Saginaw Rd, Flint, MI 48507Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/31/2039$114.3 $114.3 $129.0 0.04 %
First Prevention and Dialysis Center, LLC(#,^)17940 NW 27th Ave, Miami Gardens, FL 33056Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2024$100.7 $100.7 $104.1 0.03 %
Bowlerama Inc(#,^)3031 New Castle Ave, New Castle, DE 19720Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/24/2039$1,072.3 $1,072.3 $1,210.6 0.39 %
The Lodin Group LLC and Lodin Health Imaging Inc dba Highlands Breast(#,^)114-115 Medical Center Ave, Sebring, FL 33870Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/23/2039$473.3 $473.3 $534.4 0.17 %
Thermoplastic Services Inc and Paragon Plastic Sheet, Inc(#,^)1700 W 4th St., Dequincy, LA 70633Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%12/23/2039$429.7 $429.7 $485.1 0.16 %
B.S. Ventures LLC dba Dink's Market(#,^)48649 Hwy 58, Oakridge, OR 97463Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/19/2039$46.2 $46.2 $52.1 0.02 %
Will Zac Management LLC dba Papa John's(#)2410 West Jefferson St., Ste B, Joliet, IL 60435Food Services and Drinking PlacesTerm Loan6.25%12/19/2024$36.5 $36.5 $36.1 0.01 %
288
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
The Jewelers Inc. dba The Jewelers of Las Vegas(#,^)2400 Western Ave, Las Vegas, NV 89102Clothing and Clothing Accessories Stores Term LoanPrime plus 2.75%12/19/2024$466.1 $466.1 $480.5 0.16 %
B & W Towing, LLC and Boychucks Fuel LLC(#,^)701 Addison Rd, Painted Post, NY 14870Repair and MaintenanceTerm LoanPrime plus 2.75%12/17/2039$136.7 $136.7 $154.4 0.05 %
Kemmer LLC and Apples Tree Top Liquors LLC(#,^)1300 S Jackson St., Salem, IN 47167Food and Beverage Stores Term LoanPrime plus 2.75%12/4/2039$119.0 $119.0 $134.3 0.04 %
Teamnewman Enterprises LLC dba Newmans at 988 and John H. Newman(#,^)988 Hemlock St., Cannon Beach, OR 97110Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/2039$101.7 $101.7 $114.8 0.04 %
Legacy Estate Planning Inc dba American Casket Enterprises(#,^)2176 Route 119 North, Greensburg, PA 15601Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/21/2024$15.4 $15.4 $15.9 0.01 %
DC Real LLC and DC Enterprises LTD dba Lakeview True Value(#,^)318 North F St., Lakeview, OR 97630Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%11/20/2039$102.8 $102.8 $116.1 0.04 %
Heartland American Properties LLC and Skaggs RV Outlet LLC(#,^)301 Commerce Dr, Elizabethtown, KY 42701Motor Vehicle and Parts Dealers Term LoanPrime plus 2.75%10/31/2039$409.1 $409.1 $461.8 0.15 %
DNT Storage and Properties LLC(#,^)38 Old National Pike, West Alexander, PA 15376Real EstateTerm LoanPrime plus 2.75%10/10/2039$87.0 $87.0 $98.2 0.03 %
Sound Manufacturing Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/10/2024$65.4 $65.4 $67.5 0.02 %
Doctors Express Management of Central Texas LLC(#,^)3614 SW HK Dodgen Loop, Ste F, Temple, TX 76504Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/8/2024$2.3 $2.3 $2.4 — %
Michael Rey Jr. and Lynn J. Williams and GIG Petcare dba Hickory(#,^)900 Alpine Rd, Bridgeville, PA 15017Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/3/2039$104.9 $104.9 $118.4 0.04 %
Sumad LLC dba BrightStar Care of Encinitas(#,^)680 Fletcher Pkwy, Ste 206, El Cajon, CA 92020Administrative and Support ServicesTerm LoanPrime plus 2.75%10/2/2024$19.0 $19.0 $19.6 0.01 %
Roccos LLC and Sullo Pantalone Inc dba Rocco's(#,^)79 Beach Rd Units B13 and B14, Vineyard Haven, MA 02568Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2039$218.1 $218.1 $246.3 0.08 %
Gordon E Rogers dba Stonehouse Motor Inn(#,^)162 Danielson Pike, Foster, RI 02825AccommodationTerm LoanPrime plus 2.75%9/26/2039$49.0 $49.0 $55.4 0.02 %
Andrene's LLC dba Andrene's Caribbean Soul Food Carry Out(#,^)308 Kennedy St. NW, Washington, DC 20011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/23/2024$5.4 $5.4 $5.6 — %
Ryan Crick and Pamela J. Crick and Crick Enterprises Inc(#,^)3390 W. Andrew Johnson Hwy, Greeneville, TN 37743Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/2039$124.1 $124.1 $140.1 0.05 %
Animal Intrusion Prevention Systems Holding Company, LLC(#,^)3330 N Beach St., Fort Worth, TX 76111Administrative and Support ServicesTerm LoanPrime plus 2.75%9/15/2024$106.1 $106.1 $109.2 0.04 %
Tavern Properties LLC and Wildwood Tavern LLC(#,^)6480 West Touhy Ave, Niles, IL 60714Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/15/2039$365.3 $365.3 $412.4 0.13 %
B&P Diners LLC dba Engine House Restaurant(#,^)71 Lafayette St.,, Salem, MA 01970Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/10/2024$27.8 $27.8 $28.6 0.01 %
Atlas Auto Body Inc dba Atlas Auto Sales(#,^)20 Providence St., West Warwick, RI 02893Repair and MaintenanceTerm LoanPrime plus 2.75%8/22/2039$43.8 $43.8 $49.5 0.02 %
289
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Katie Senior Care LLC dba Home Instead Senior Care(#,^)222E Eufaula St Ste 220, Norman, OK 73069Social AssistanceTerm LoanPrime plus 2.75%8/15/2024$36.0 $36.0 $37.0 0.01 %
Alpha Preparatory Academy LLC(#,^)4462 Mink Livsey Rd, Snellville, GA 30039Social AssistanceTerm LoanPrime plus 2.75%8/15/2039$124.0 $124.0 $140.0 0.05 %
Hamer Road Auto Salvage, LLC and Scott T. Cook and Nikki J. Cook(#,^)10463 Hamer Rd, Georgetown, OH 45121Motor Vehicle and Parts Dealers Term Loan6%8/8/2039$117.5 $117.5 $115.1 0.04 %
Almost Home Property LLC and Almost Home Daycare LLC(#,^)35 Copps Hill Rd, Ridgefield, CT 06877Social AssistanceTerm LoanPrime plus 2.75%8/7/2039$560.9 $560.9 $633.3 0.20 %
575 Columbus Avenue Holding Company, LLC and LA-ZE LLC(#,^)575 Columbus Ave, New Haven, CT 06519Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/30/2039$17.3 $17.3 $19.5 0.01 %
Honeyspot Investors LLP and Pace Motor Lines Inc(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Truck TransportationTerm LoanPrime plus 2.75%7/24/2039$127.0 $127.0 $143.4 0.05 %
AMG Holding, LLC and Stetson Automotive, Inc(#,^)309 Route 9, Waretown, NJ 08758Repair and MaintenanceTerm LoanPrime plus 2.75%6/30/2039$173.9 $173.9 $196.4 0.06 %
Honeyspot Investors LLP and Pace Motor Lines Inc(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Truck TransportationTerm LoanPrime plus 2.75%6/30/2039$740.4 $740.4 $835.9 0.27 %
Lisle Lincoln II Limited Partnership dba Lisle Lanes LP(#,^)4920 Lincoln Ave Route 53, Lisle, IL 60532Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/30/2024$31.5 $31.5 $32.4 0.01 %
Nikobella Properties LLC and JPO Inc dba Village Car Wash(#,^)1372 South US Route 12, Fox Lake, IL 60020Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/2039$434.2 $434.2 $490.3 0.16 %
Big Sky Plaza LLC and Strickland, Incorporated dba Livingston True Val(#,^)1313 West Park St. #1, Livingston, MT 59047Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 2.75%6/20/2039$197.5 $197.5 $223.0 0.07 %
Sico & Walsh Insurance Agency Inc and The AMS Trust(#,^)106 Concord Ave, Belmont, MA 02478Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%6/6/2039$78.2 $78.2 $88.3 0.03 %
Sujata Inc dba Stop N Save Food Mart and Dhruvesh Patel(#,^)15637 St Clair Ave, Cleveland, OH 44110Food and Beverage Stores Term LoanPrime plus 2.75%6/3/2024$5.3 $5.3 $5.4 — %
Long Island Barber Institute Inc(#,^)266 Greenwich St., Hempstead, NY 11550Educational ServicesTerm LoanPrime plus 2.75%6/2/2039$47.0 $47.0 $53.0 0.02 %
Pocono Coated Products, LLC(#,^)100 Sweetree St., Cherryville, NC 28021Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%5/30/2024$7.0 $7.0 $7.1 — %
Jonesboro Health Food Center LLC(#,^)1321 Stone St., Jonesboro, AR 72401Health and Personal Care Stores Term LoanPrime plus 2.75%5/27/2024$19.6 $19.6 $20.1 0.01 %
The River Beas LLC and Punam Singh(#,^)11704 Centurion Way, Potomac, MD 20854Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/8/2039$76.2 $76.2 $86.0 0.03 %
AS Boyals LLC dba Towne Liquors(#,^)117 South Broad St., Woodbury City, NJ 08096Food and Beverage Stores Term LoanPrime plus 2.75%4/29/2039$91.6 $91.6 $103.4 0.03 %
Gerami Realty, LC Sherrill Universal City Corral, LP dba Golden(#,^)2301 Pat Booker Rd, Universal City, TX 78148Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/23/2027$44.6 $44.6 $47.5 0.02 %
290
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Island Wide Realty LLC and Long Island Partners, Inc. (#,^)201-203-205 West Merrick Rd, Valley Stream, NY 11580Real EstateTerm LoanPrime plus 2.75%4/22/2039$87.3 $87.3 $98.5 0.03 %
Wilshire Media Systems Inc(#,^)2649 Townsgate Rd. Ste 500, Westlake Village, CA 91361Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/2024$54.5 $54.5 $56.0 0.02 %
1899 Tavern & Tap LLC and Ale House Tavern & Tap LLC(#,^)1899 State Route 35, South Amboy, NJ 08879Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/9/2039$94.3 $94.3 $106.5 0.03 %
Hodges Properties LLC and Echelon Enterprises Inc dba Treads Bicycle(#,^)16701 E. Iliff Ave, Aurora, CO 80013Sporting Goods, Hobby, Musical Instrument, and Book Stores Term LoanPrime plus 2.75%3/31/2039$376.9 $376.9 $425.5 0.14 %
Kemmer, LLC and Pitts Package Store, Inc.(#,^)201 S. Main St., Salem, IN 47167Food and Beverage Stores Term LoanPrime plus 2.75%3/31/2039$98.6 $98.6 $111.4 0.04 %
636 South Center Holdings, LLC and New Mansfield Brass and Aluminum Co(#)636 South Center St., New Washington, OH 44854Primary Metal ManufacturingTerm LoanPrime plus 2.75%3/20/2039$67.1 $67.1 $75.8 0.02 %
Cormac Enterprises and Wyoming Valley Beverage Incorporated(#,^)63 S Wyoming Ave, Edwardsville, PA 18704Food and Beverage Stores Term LoanPrime plus 2.75%3/20/2039$92.9 $92.9 $104.9 0.03 %
R & R Boyal LLC dba Cap N Cat Clam Bar and Little Ease Tavern(#,^)3111 and 3135 Delsea Dr, Franklinville, NJ 08322Food and Beverage Stores Term LoanPrime plus 2.75%2/28/2039$349.6 $349.6 $394.7 0.13 %
Summit Beverage Group LLC(#,^)211 Washington Ave, Marion, VA 24354Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%2/28/2024$98.1 $98.1 $100.5 0.03 %
952 Boston Post Road Realty, LLC and HNA LLC dba Styles International(#,^)952 Boston Post Rd, Milford, CT 06460Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2039$173.2 $173.2 $195.6 0.06 %
Faith Memorial Chapel LLC(#,^)600 9th Ave North, Bessemer, AL 35020Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2039$179.3 $179.3 $202.4 0.07 %
96 Mill Street LLC, Central Pizza LLC and Jason Bikakis George Bikaki(#,^)96 Mill St., Berlin, CT 06037Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/12/2039$117.9 $117.9 $133.1 0.04 %
JWB Industries, Inc. dba Carteret Die Casting(#,^)74 Veronica Ave, Somerset, NJ 08875Primary Metal ManufacturingTerm LoanPrime plus 2.75%2/11/2024$78.3 $78.3 $80.2 0.03 %
986 Dixwell Avenue Holding Company, LLC and Mughali Foods, LLC (#,^)986 Dixwell Ave, Hamden, CT 06510Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/7/2039$83.3 $83.3 $94.1 0.03 %
Sarah Sibadan dba Sibadan Agency(#,^)102-05 101st Ave, Ozone Park, NY 11416Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%1/27/2039$108.0 $108.0 $121.9 0.04 %
Icore Enterprises Inc dba Air Flow Filters Inc(#,^)151 W 24th St, Hialeah, FL 33010Miscellaneous ManufacturingTerm LoanPrime plus 2.75%1/15/2024$5.9 $5.9 $6.0 — %
Nutmeg North Associates LLC Steeltech Building Products Inc(#,^)636 Nutmeg Rd North, South Windsor, CT 06074Construction of BuildingsTerm LoanPrime plus 2.75%12/31/2038$762.4 $762.4 $860.8 0.28 %
Amboy Woodbridge Realty LLC and United Premium Foods LLC(#)One Amboy Ave, Woodbridge, NJ 07095Food ManufacturingTerm Loan7%6/14/2024$1,813.7 $1,813.7 $1,797.8 0.58 %
KK International Trading Corporation(#,^)219 Lafayette Dr, Syosset, NY 11791Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%12/23/2028$112.1 $112.1 $121.4 0.04 %
291
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Kurtis Sniezek dba Wolfe's Foreign Auto(#,^)712 5th St., New Brighton, PA 15066Repair and MaintenanceTerm LoanPrime plus 2.75%12/20/2038$74.0 $74.0 $83.5 0.03 %
920 CHR Realty LLC V. Garofalo Carting Inc(#,^)920 Crooked Hill, Brentwood, NY 11717Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%12/10/2038$348.4 $348.4 $393.3 0.13 %
DKB Transport Corp(#,^)555 Water Works Rd, Old Bridge, NJ 08857Truck TransportationTerm LoanPrime plus 2.75%12/5/2038$115.5 $115.5 $130.4 0.04 %
Firm Foundations Inc David S Gaitan Jr and Christopher K Daigle(#,^)1455 S Richland Creek Rd, Sugar HIll, GA 30518Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/3/2038$85.7 $85.7 $96.8 0.03 %
BVIP Limousine Service LTD(#,^)887 W Liberty, Medina, OH 44256Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%11/27/2038$63.5 $63.5 $71.7 0.02 %
AcuCall LLC(#,^)824 U.S Hwy 1, Ste 335, North Palm Beach, FL 33408Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/21/2023$4.0 $4.0 $4.1 — %
Kids in Motion of Springfield LLC dba The Little Gym of Springfield IL(#,^)3039-3043 Hedley, Springfield, IL 62704Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/18/2023$11.2 $11.2 $11.5 — %
Polpo Realty, LLC Polpo Restaurant, LLC(#,^)554 Old Post Rd #3, Greenwich, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/6/2038$53.0 $53.0 $59.8 0.02 %
Mid-Land Sheet Metal Inc(#,^)125 E Fesler St., Santa Maria, CA 93454Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/31/2038$114.6 $114.6 $129.3 0.04 %
Master CNC Inc & Master Properties LLC(#,^)11825 29 Mile Rd, Washington, MI 48095Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/2038$494.7 $494.7 $558.5 0.18 %
1 North Restaurant Corp dba 1 North Steakhouse(#,^)322 W. Montauk Hwy, Hampton Bays, NY 11946Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2038$174.0 $174.0 $196.4 0.06 %
Janice B. McShan and The Metropolitan Day School, LLC(#,^)2817 Lomb Ave, Birmingham, AL 35208Social AssistanceTerm LoanPrime plus 2.75%10/31/2023$10.3 $10.3 $10.6 — %
Clairvoyant Realty Corp. and Napoli Marble & Granite Design, Ltd(#,^)77 Mill Rd, Freeport, NY 11520Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/24/2038$121.5 $121.5 $137.2 0.04 %
Greenbrier Technical Services, Inc(#,^)407 E. Edgar Ave, Ronceverte, WV 24970Repair and MaintenanceTerm LoanPrime plus 2.75%10/24/2023$29.8 $29.8 $30.4 0.01 %
Lenoir Business Partners LLC LP Industries, Inc dba Childforms(#,^)2040 Norwood, Lenoir, NC 28645Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%9/30/2038$254.0 $254.0 $286.8 0.09 %
LP Industries, Inc dba Childforms(#,^)110 Charleston Dr, Ste 105-107, Morresville, NC 28117Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%9/30/2038$103.5 $103.5 $116.9 0.04 %
Cencon Properties LLC and Central Connecticut Warehousing Company, Inc(#,^)37 Commons Court, Waterbury, CT 06704Warehousing and StorageTerm LoanPrime plus 2.75%9/30/2038$284.6 $284.6 $321.4 0.10 %
Mitchellville Family Dentistry, Dr. Octavia Simkins-Wiseman DDS PC(#,^)12150 Annapolis Rd, Ste 301, Glenn Dale, MD 20769Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/27/2038$276.4 $276.4 $312.1 0.10 %
Anthony C Dinoto and Susan S P Dinoto and Anthony C Dinoto Funeral(#,^)17 Pearl St., Mystic, CT 06355Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/26/2038$82.5 $82.5 $93.1 0.03 %
Kiddie Steps 4 You Inc.(#,^)1700 West 63rd St., Chicago, IL 60636Social AssistanceTerm LoanPrime plus 2.75%9/25/2038$75.4 $75.4 $85.1 0.03 %
292
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Serious-Fun in Alpharetta, LLC dba The Little Gym of Alpharetta(#,^)11585 Jones Bridge Rd, Ste 4G, Johns Creek, GA 30022Educational ServicesTerm LoanPrime plus 2.75%9/20/2023$10.7 $10.7 $10.9 — %
Faith Memorial Chapel LLC(#,^)600 9th Ave North, Bessemer, AL 35020Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/20/2038$221.1 $221.1 $249.6 0.08 %
Maynard Enterprises Inc dba Fastsigns of Texarkana(#,^)3735 Mall Dr, Texarkana, TX 75501Miscellaneous Store Retailers Term LoanPrime plus 2.75%9/18/2023$3.7 $3.7 $3.8 — %
Grafio Inc dba Omega Learning Center-Acworth(#,^)5330 Brookstone Dr, Ste 320, Acworth, GA 30101Educational ServicesTerm LoanPrime plus 2.75%9/13/2023$38.1 $38.1 $38.8 0.01 %
The Berlerro Group, LLC dba Sky Zone(#,^)111 Rodeo Dr, Edgewood, NY 11717Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/12/2023$132.8 $132.8 $135.3 0.04 %
Sound Manufacturing Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/12/2028$31.2 $31.2 $33.7 0.01 %
Prospect Kids Academy Inc(#,^)532 St Johns Place, Brooklyn, NY 11238Educational ServicesTerm LoanPrime plus 2.75%9/11/2038$102.5 $102.5 $115.7 0.04 %
Schmaltz Holdings, LLC and Schmaltz Operations, LLC (#,^)3408 Castle Rock Farm Rd, Pittsboro, NC 27312Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/4/2038$183.8 $183.8 $207.5 0.07 %
Gulfport Academy Child Care and Learning Center, Inc. and Jennifer Sis(#,^)15150 Evans St., Gulfport, MS 39503Social AssistanceTerm LoanPrime plus 2.75%8/30/2023$9.5 $9.5 $9.7 — %
Caribbean Concepts, Inc. dba Quick Bleach(#,^)120 East 56th St., St.#730, New York, NY 10022Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/12/2023$4.9 $4.9 $4.9 — %
Daniel W and Erin H Gordon and Silver Lining Stables CT, LLC(#,^)38 Carmen Lane, Monroe, CT 06468Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/24/2023$2.5 $2.5 $2.5 — %
Angkor Restaurant Inc(#,^)10 Traverse St., Providence, RI 02903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/19/2038$76.3 $76.3 $86.1 0.03 %
Harbor Ventilation Inc and Estes Investment, LLC(#,^)509 East Park St., Livingston, MT 59047Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/19/2038$1.9 $1.9 $2.2 — %
Tri County Heating and Cooling Inc.(#,^)509 East Park St., Livingston, MT 59047Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/19/2023$18.1 $18.1 $18.5 0.01 %
Morning Star Trucking LLC and Morning Star Equipment and Leasing LLC(#,^)1 Poppy Ave, Neptune, NJ 07753Truck TransportationTerm LoanPrime plus 2.75%7/17/2023$11.2 $11.2 $11.4 — %
Maxiflex LLC(#,^)512 Verret St., New Orleans, LA 70114Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/28/2023$8.8 $8.8 $8.9 — %
GIA Realty LLC and VRAJ GIA LLC dba Lakeview Laundromat(#,^)411 Sharp St., Millville, NJ 08332Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/28/2038$79.6 $79.6 $89.8 0.03 %
2161 Highway 6 Trail, LLC, R. H. Hummer JR., Inc.(#,^)2141 P Ave, Williamsburg, IA 52361Truck TransportationTerm LoanPrime plus 2.75%6/19/2026$236.0 $236.0 $248.5 0.08 %
Blakeslee Arpaia Chapman, Inc. dba Blakeslee Industrial Services(#,^)200 North Branford Rd, Branford, CT 06405Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%6/18/2028$486.4 $486.4 $524.2 0.17 %
KDP LLC and KDP Investment Advisors, Inc and KDP Asset Management, Inc(#,^)24 Elm St., Montpelier, VT 05602Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%6/14/2023$68.3 $68.3 $69.4 0.02 %
293
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Elite Structures Inc(#,^)401 Old Quitman Rd, Adel, GA 31620Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/12/2038684.5 684.5 772.8 0.25 %
Absolute Desire LLC and Mark H. Szierer and Sophisticated Smile(#,^)85 Reaville Ave, Flemington, NJ 08822Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/5/2038154.2 154.2 174.1 0.06 %
Gregory P Jellenek OD and Associates PC(#,^)4640 Monticello Ave, Ste 8A, Williamsburg, VA 23188Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/28/202311.6 11.6 11.8 — %
Ryan D. Thornton and Thornton & Associates LLC(#,^)800 Bethel St., Ste 200, Honolulu, HI 96813Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%5/24/20238.2 8.2 8.3 — %
Peanut Butter & Co., Inc.(#,^)250 West 54th St., New York, NY 10019Food ManufacturingTerm LoanPrime plus 2.75%4/30/202317.7 17.7 18.0 0.01 %
1258 Hartford TPKE, LLC and Phelps and Sons, Inc(#,^)1258 Hartford Turnpike, Vernon, CT 06066Miscellaneous Store Retailers Term LoanPrime plus 2.75%3/29/2038101.0 101.0 114.1 0.04 %
Xela Pack, Inc. and Aliseo and Catherine Gentile(#,^)8300 Boettner Rd, Saline, MI 48176Paper ManufacturingTerm LoanPrime plus 2.75%3/27/2028151.2 151.2 162.4 0.05 %
A & M Commerce, Inc. dba Cranberry Sunoco(#,^)398 Baltimore Blvd, Westminster, MD 21157Gasoline Stations Term LoanPrime plus 2.75%3/27/2038263.5 263.5 297.5 0.10 %
American Diagnostic Imaging, Inc. dba St. Joseph Imaging Center(#,^)3937 Sherman Ave, Saint Joseph, MO 64506Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/25/2038455.5 455.5 514.3 0.17 %
Michael A.and HeatherR. Welsch dba Art & FrameEtc.(#,^)2819 West T C Jester Blvd., Houston, TX 77018Miscellaneous Store Retailers Term LoanPrime plus 2.75%3/22/203854.7 54.7 61.8 0.02 %
Sound Manufacturing, Inc. and Monster Power Equipment Inc.(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/15/202377.8 77.8 78.9 0.03 %
Osceola River Mill, LLC Ironman Machine, Inc.(#,^)27 Hungerford St., Pittsfield, MA 01201Machinery ManufacturingTerm LoanPrime plus 2.75%2/20/203869.7 69.7 78.7 0.03 %
Retain Loyalty LLC(#,^)1250 Sanders Ave SW, Massillon, OH 44647Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%2/15/203893.6 93.6 105.7 0.03 %
Sherill Universal City dba Golden Corral LP(#,^)2301 Pat Booker Rd, Universal City, TX 78148Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/28/2038372.8 372.8 420.9 0.14 %
Macho LLC Madelaine Chocolate Novelties Inc(#,^)96-03 Beach Channel Dr, Rockaway Beach, NY 11693Food ManufacturingTerm LoanPrime plus 2.75%12/31/2037403.9 403.9 456.0 0.15 %
Polpo Realty LLC & Polpo Restaurant LLC(#,^)554 Old Post Rd #3, Greenwich, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/27/2037426.5 426.5 481.5 0.16 %
Daniel Gordon and Erin Gordon and Silver Lining Stables CT, LLC(#,^)38 Carmen Lane, Monroe, CT 06468Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%11/28/2037183.3 183.3 206.9 0.07 %
Richmond Hill Mini Market, LLC(#,^)101 Richmond Hill Ave, Stamford, CT 06902Food and Beverage Stores Term LoanPrime plus 2.75%11/27/2037148.2 148.2 167.3 0.05 %
DRV Enterprise, Inc. dba Cici's Pizza # 339(#,^)5771 East Fowler Ave, Temple Terrace, FL 33617Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/26/20227.6 7.6 7.6 — %
U & A Food and Fuel, Inc. dba Express Gas & Food Mart(#,^)1345 Wampanoag Trail, East Providence, RI 02915Gasoline Stations Term LoanPrime plus 2.75%11/21/203777.1 77.1 87.0 0.03 %
R & J Petroleum LLC Manar USA, Inc.(#,^)305 Quincy Shore Dr, Quincy, MA 02107Gasoline Stations Term LoanPrime plus 2.75%11/20/2037144.2 144.2 162.8 0.05 %
294
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
St Judes Physical Therapy P.C.(#,^)7712 Fourth Ave, Brooklyn, NY 11209Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/19/20222.5 2.5 2.6 — %
Hi-Def Imaging, Inc. dba SpeedPro Imaging(#,^)3580 Progress Dr, Unit Q, Bensalem, PA 19020Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/9/20222.8 2.8 2.8 — %
Reidville Hydraulics Mfg Inc dba Summit(#,^)175 Industrial Lane, Torrington, CT 06790Machinery ManufacturingTerm LoanPrime plus 2.75%11/2/2037210.1 210.1 237.2 0.08 %
O'Rourkes Diner LLC dba O'Rourke's Diner(#,^)728 Main St., Middletown, CT 06457Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/19/203752.9 52.9 59.8 0.02 %
AJK Enterprise LLC dba AJK Enterprise LLC(#,^)1901 Naylor Rd, SE, Washington, DC 20020Truck TransportationTerm LoanPrime plus 2.75%8/27/20221.2 1.2 1.3 — %
Suncoast Aluminum Furniture, Inc(#,^)6291 Thomas Rd, Fort Myers, FL 33912Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%8/17/2037286.3 286.3 323.2 0.10 %
Central Tire, Inc. dba Cooper Tire & Auto Services(#,^)1111 S Tillotson Ave, Muncie, IN 47304Repair and MaintenanceTerm LoanPrime plus 2.75%6/29/2037227.2 227.2 256.6 0.08 %
KIND-ER-ZZ Inc dba Kidville(#,^)30 Maple St., Summit, NJ 07901Educational ServicesTerm LoanPrime plus 2.75%6/15/20223.5 3.5 3.5 — %
Graphish Studio, Inc. and Scott Fishoff(#,^)231 Main St., Stanford, CT 06901Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/20221.3 1.3 1.3 — %
Tracey Vita-Morris dba Tracey Vita's School of Dance(#,^)4181 9th Ave West, Bradenton, FL 34025Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%5/10/20221.3 1.3 1.4 — %
Access Staffing, LLC(#,^)360 Lexington Ave, 8th Floor, New York, NY 10017Administrative and Support ServicesTerm LoanPrime plus 2.75%3/30/20227.9 7.9 7.9 — %
Manuel P. Barrera and Accura Electrical Contractor, Inc.(#,^)6187 NW 167th St. Unit H3, Miami, FL 33015Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/23/202853.2 53.2 57.2 0.02 %
Shweiki Media, Inc. dba Study Breaks Magazine(#,^)4954 Space Center Dr, San Antonio, TX 78218Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/22/2027604.4 604.4 642.2 0.21 %
ATI Jet, Inc.(#,^)7007 Boeing Dr, El Paso, TX 79925Air TransportationTerm LoanPrime plus 2.75%12/28/2026250.8 250.8 265.7 0.09 %
J. Kinderman & Sons, Inc. dba Brite Star Manufacturing Company(#,^)2900 South 20th St., Philadelphia, PA 19145Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%12/22/2036130.8 130.8 147.6 0.05 %
39581 Garfield, LLC and Tricounty Neurological Associates, P.C.(#,^)39581 Garfield Rd, Clinton Township, MI 48038Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/203620.1 20.1 22.7 0.01 %
39581 Garfield, LLC and Tri County Neurological Associates, P.C.(#,^)39581 Garfield Rd, Clinton Township, MI 48038Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/203659.2 59.2 66.8 0.02 %
Michael S. Decker & Janet Decker dba The Hen House Cafe(#,^)401 Caribou St., Simla, CO 80835Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/30/203612.5 12.5 14.1 — %
Valiev Ballet Academy, Inc(#,^)635 - 637 Londonderry Lane, Denton, TX 76205Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%8/12/203632.3 32.3 36.4 0.01 %
LaHoBa, LLC d/b/a Papa John's(#,^)3001 Pontchartrain Dr, Slidell, LA 70458Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/3/203658.6 58.6 66.2 0.02 %
295
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Lavertue Properties LLP dba Lavertue Properties(#,^)24 Wakefield St., Rochester, NH 13867Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%6/29/203633.9 33.9 38.3 0.01 %
Lisle Lincoln II Limited Partnership dba Lisle Lanes LP(#,^)4920 Lincoln Ave Route 53, Lisle, IL 60532Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/29/2036265.0 265.0 299.1 0.10 %
Profile Performance, Inc. and Eidak Real Estate, L.L.C.(#,^)44600 Michigan Ave, Canton, MI 48188Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/203695.5 95.5 107.8 0.03 %
Northwind Outdoor Recreation, Inc. dba Red Rock Wilderness Store(#,^)2267 Fernberg Trail, Ely, MN 55731Nonstore Retailers Term LoanPrime plus 2.75%4/18/2036107.8 107.8 121.7 0.04 %
Michael S. Korfe dba North Valley Auto Repair(#,^)7516 B 2nd St., NW, Albuquerque, NM 87107Repair and MaintenanceTerm LoanPrime plus 2.75%3/24/203611.5 11.5 13.0 — %
Seagate Group Holdings, Inc. dba Seagate Logistics, Inc.(#,^)64-68 North Central Ave, Valley Stream, NY 11580Support Activities for TransportationTerm LoanPrime plus 2.75%1/28/203684.1 84.1 95.0 0.03 %
Robert F. Schuler and Lori A. Schuler dba Bob’s Service Center(#,^)2879 Limekiln Pike, Glenside, PA 19038Repair and MaintenanceTerm LoanPrime plus 2.75%11/30/203525.3 25.3 28.5 0.01 %
Rudy & Louise Chavez dba Clyde's Auto and Furniture Upholstery(#,^)2320 2nd St., Albuquerque, NM 87107Repair and MaintenanceTerm LoanPrime plus 2.75%9/2/203536.5 36.5 41.2 0.01 %
Tanner Optical Inc. dba Murphy Eye Care(#,^)305 Shirley Ave, Douglas, GA 31533Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/22/203564.5 64.5 72.9 0.02 %
Animal Intrusion Prevention Systems Holding Company, LLC(#,^)3330 North Beach St., Haltom City, TX 76111Administrative and Support ServicesTerm LoanPrime plus 2.75%3/29/202412.0 12.0 12.3 — %
D & D's Divine Beauty School of Esther, LLC(#,^)5524 Germantown Ave, Philadelphia, PA 19144Educational ServicesTerm Loan6%8/1/203138.3 38.3 37.8 0.01 %
Bliss Coffee and Wine Bar, LLC(#)1402-A Handlir Dr, Bel Air, MD 21015Food Services and Drinking PlacesTerm Loan6%11/30/202257.5 57.5 57.1 0.02 %
1911 East Main Street Holdings, Corp(#,^)1911 East Main St., Endicott, NY 13760Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/20328.8 8.8 9.9 — %
Water Works Laundromat, LLC(#,^)968-970 Bergen St., Newark, NJ 07104Personal and Laundry ServicesTerm LoanPrime plus 2.25%9/7/2027109.5 109.5 115.4 0.04 %
Dave Kris, and MDK Ram Corp.(#,^)15 Elm Park, Groveland, MA 01930Food and Beverage Stores Term LoanPrime plus 2.75%2/5/202615.1 15.1 15.9 0.01 %
Head To Toe Personalized Pampering, Inc.(#,^)2331 North State Rd 7, Lauderhill, FL 33313Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/27/20316.6 6.6 7.4 — %
Moonlight Multi Media Production, Inc.(#,^)2700 West Cypress Creek Rd, Fort Lauderdale, FL 33309Other Information ServicesTerm Loan5.3%2/1/20250.4 0.4 0.4 — %
David M. Goens dba Superior Auto Paint & Body, Inc.(#)1912 Manhattan Ave, Harvey, LA 70058Repair and MaintenanceTerm Loan6%8/26/20247.2 7.2 7.2 — %
Whirlwind Car Wash, Inc.(#,^)1370 Le Anne Marie Circle, Columbus, OH 43026Repair and MaintenanceTerm LoanPrime plus 2%4/9/202910.6 10.6 11.3 — %
Shuttle Car Wash, Inc. dba Shuttle Car Wash(#,^)745 Cheney Hwy, Ttitusville, FL 32780Repair and MaintenanceTerm LoanPrime plus 2.25%11/10/20288.0 8.0 8.6 — %
296
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)
Min Hui Lin(#,^)1916 Broad St., Lanett, AL 36863Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/202811.2 11.2 12.0 — %
Auto Sales, Inc.(#,^)1925 State St., Hamden, CT 06417Motor Vehicle and Parts Dealers Term Loan6%8/17/20232.2 2.2 2.2 — %
Robin C. & Charles E. Taylor & Brigantine Aquatic Center LLC(#)3118 Bayshore Ave, Brigantine, NJ 08203Amusement, Gambling, and Recreation IndustriesTerm Loan6%9/14/202315.0 15.0 14.9 — %
Track Side Collision & Tire, Inc.(#,^)98-16 160 Ave, Ozone Park, NY 11414Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%6/16/20252.4 2.4 2.5 — %
Deesha Corporation, Inc. dba Best Inn & Suites(#,^)9225 Pkwy East, Birmingham, AL 35206AccommodationTerm LoanPrime plus 2.25%2/14/202512.3 12.3 12.6 — %
Randall D. & Patricia D. Casaburi dba Pat's Pizzazz(#,^)386 Winsted Rd, Torrington, CT 06790Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%3/13/20231.7 1.7 1.7 — %
Naseeb Corporation(#,^)1696 North Broad St., Meriden, CT 06450AccommodationTerm LoanPrime plus 2.25%3/31/202410.7 10.7 10.9 — %
Stillwell Ave Prep School(#,^)1990 Stillwell Ave, Brooklyn, NY 11214Social AssistanceTerm LoanPrime plus 2.75%1/14/20235.7 5.7 5.8 — %
Alyssa Corp dba Knights Inn(#,^)1105 Columbus Pkwy, Opelika, AL 36801AccommodationTerm LoanPrime plus 2.25%9/30/202324.9 24.9 25.3 0.01 %
Bhailal Patel dba New Falls Motel(#,^)201 Lincoln Hwy, Fairless Hills, PA 19030AccommodationTerm LoanPrime plus 2.75%3/27/20230.4 0.4 0.4 — %
Pegasus Automotive, Inc.(#,^)3981 Hylan Blvd, Staten Island, NY 10308Gasoline Stations Term LoanPrime plus 2.75%12/23/20221.0 1.0 1.0 — %
Total SBA Unguaranteed Accrual Investments$377,844.5 $377,844.5 $393,910.1 127.36 %
297
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
D & D Optics Inc dba Sterling Optical(*,#,^)1487 East LaSalle Dr, Bismark, ND 58503Ambulatory Health Care ServicesTerm LoanPrime plus 0%12/21/2028$41.1 $41.1 $20.0 0.01 %
Edge Studios Inc Radiant Yoga LLC(*,#,^)448 Howe Ave, Sacramento, CA 95825Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%11/1/202749.1 49.1 47.9 0.02 %
3SIXO Motorsports LLC dba 3SIXO Motorsports Shop(*,#,^)217 W Main St., Centralia, WA 98531Motor Vehicle and Parts Dealers Term Loan7.75%1/6/202994.6 94.6 48.0 0.02 %
ABC Sandblasting, LLC(*,#,^)14029 56th St. NW, Williston, ND 58801Specialty Trade ContractorsTerm LoanPrime plus 0%10/31/2029145.0 145.0 26.2 0.01 %
Acton Hardware LLC and Mark Allgood & Jamie Allgood(*,#)31814 Crown Valley Rd, Acton, CA 93510Building Material and Garden Equipment and Supplies Dealers Term Loan8%3/24/2041117.1 117.1 39.3 0.01 %
Advance Case Parts RE Holdings LLC and Advance Case Parts Inc(*,#)12485-12489 NW 44th St., Coral Springs, FL 33071Repair and MaintenanceTerm Loan7.75%3/31/2040318.3 318.3 12.1 0.00 %
Albas Bar & Grill LLC(*,#,^)221 Self Main St., Homer City, PA 15748Food Services and Drinking PlacesTerm Loan6%10/13/204243.9 43.9 7.7 0.00 %
Alive Design, LLC(*,#)1906 NE 23 rd Ave, Cape Coral, FL 33909Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/13/20278.7 8.7 8.3 0.00 %
All Printing Solutions, Inc. dba Pryntcomm(*,#)303 E. Sioux Ave., Pierre, SD 57501Printing and Related Support ActivitiesTerm Loan7.75%6/27/2041491.8 491.8 81.6 0.03 %
Amboy Group, LLC dba Tommy Moloney's(*,#)1 Amboy Ave, Woodbridge, NJ 07095Food ManufacturingTerm Loan7%6/14/20241,458.1 1,458.1 1,292.6 0.42 %
Anderson Companies LLC(*,#,^)3015 S White Horse Pike, Hammonton, NJ 08037Administrative and Support ServicesTerm LoanPrime plus 0%6/28/2044191.8 191.8 184.5 0.06 %
Anglin Cultured Stone Products LLC(*,#,^)877 Salem Church Rd, Newark, DE 19702Construction of BuildingsTerm Loan8.25%12/27/2042630.5 630.5 170.7 0.06 %
Anglin Cultured Stone Products LLC dba Anglin Construction(*,#)877 Salem Church Rd, Newark, DE 19702Specialty Trade ContractorsTerm Loan8.25%6/30/2025185.8 185.8 158.2 0.05 %
Anurag, LLC dba Oakwood Package Store(*,#,^)191-195 Oakwood Ave, West Hartford, CT 06107Food and Beverage Stores Term LoanPrime plus 0%6/6/2043127.6 127.6 61.4 0.02 %
Apple Tree NC Inc dba Williams Farm & Garden Center(*,#)109 Barkside Lane, New Bern, NC 28562Building Material and Garden Equipment and Supplies Dealers Term LoanPrime plus 0%7/28/2041316.1 316.1 301.3 0.10 %
Arclay ,LLC(*,#,^)49 Geyser Rd Ste 100, Saratoga Springs, NY 12866Nonmetallic Mineral Product ManufacturingTerm Loan8%5/5/2030137.1 137.1 37.6 0.01 %
Auto Shine Carwash Inc and AKM R. Hossain and Jessica F. Masud(*,#)2646 South Rd, Poughkeepsie, NY 12601Gasoline Stations Term Loan7.75%9/26/202415.7 15.7 15.5 0.01 %
AWA Fabrication & Construction, L.L.C.(*,#)811 Country Rd #99, Headland, AL 36345Fabricated Metal Product ManufacturingTerm Loan6%4/30/202534.4 34.4 1.6 0.00 %
B for Blonde, LLC dba Blo Blow Dry Bar(*,#)142 East 49th St., New York, NY 10017Personal and Laundry ServicesTerm Loan6%2/12/202639.7 39.7 37.8 0.01 %
B for Brunette dba Blo(*,#,^)50 Glen Cove Rd, Greenvale, NY 11548Personal and Laundry ServicesTerm Loan6%9/10/202320.5 20.5 19.5 0.01 %
D for Dream LLC dba Blo Blow Dry Bar Inc(*,#,^)460 East 3rd Ave, New York, NY 10016Personal and Laundry ServicesTerm Loan6%5/13/202966.7 66.7 31.3 0.01 %
298
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
B&B Fitness and Barbell, Inc. dba Elevations Health Club(*,#)Route 611 North, Scotrun, PA 18355Amusement, Gambling, and Recreation IndustriesTerm Loan6%6/22/20351,385.8 1,385.8 179.7 0.06 %
B&C Texas Leasing Inc and M&W Hot Oil, Inc.(*,#,^)8124 Sprague Rd, Odessa, TX 73764Support Activities for MiningTerm LoanPrime plus 2.75%3/30/2028748.3 748.3 169.3 0.05 %
B&C Texas Leasing Inc.,M & W Hot Oill, Inc(*,#,^)8124 Sprague Rd, Odessa, TX 79764Support Activities for MiningTerm LoanPrime plus 2.75%3/30/2043256.1 256.1 247.0 0.08 %
B4 Fitness LLC dba The Zoo Health Club(*,#)4 Beehive Dr, Epping, NH 03042Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%9/23/202612.3 12.3 11.1 0.00 %
Baker Sales, Inc. d/b/a Baker Sales, Inc.(*,#)60207 Camp Villere Rd, Slidell, LA 70460Nonstore Retailers Term Loan6%3/29/2036177.4 177.4 91.2 0.03 %
Band Sawn Lumber,LLC and Nathan Ryan Adams(*,#,^)1873 State Hwy 29, Johnstown, NY 12095Wood Product ManufacturingTerm Loan7.75%5/15/204290.0 90.0 24.4 0.01 %
Baobab Asset Management LLC(*,#,^)2 Greenwich Office Park, Ste 260, Greenwich, CT 06831Merchant Wholesalers, Durable Goods Term LoanPrime plus 0%6/28/202942.1 42.1 41.1 0.01 %
BB Services, LLC(*,#,^)580 39 Rd, Palisade, CO 81526Truck TransportationTerm LoanPrime plus 0%6/27/202995.1 95.1 92.3 0.03 %
Bear Creek Entertainment LLC dba The Woods at Bear Creek(*,#,^)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm LoanPrime plus 2.75%8/12/20411,608.1 1,608.1 123.4 0.04 %
Bear Creek Entertainment, LLC dba The Woods at Bear Creek(*,#)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm Loan7.25%12/30/202485.4 85.4 82.4 0.03 %
Bebos Inc dba Pizza Hut & Sunoco(*,#)2003 West 5th St., Clifton, TX 76634Gasoline Stations Term Loan7.75%3/28/2028126.6 126.6 4.7 0.00 %
Bev's Sweets LLC(*,#,^)3778 Hwy 254, Cleveland, GA 30528Administrative and Support ServicesTerm Loan6%9/30/2044210.5 210.5 177.7 0.06 %
Big Picture Group LLC(*,#,^)935 N La Jolla, Los Angeles, CA 90046Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%12/12/2027286.8 286.8 276.6 0.09 %
Big Picture Group LLC(*,#,^)935 N La Jolla, Los Angeles, CA 90046Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%6/28/2029132.1 132.1 127.4 0.04 %
Bloomquist Communications Inc.(*,#)131 East Trinity Place, Decatur, GA 30030Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%10/31/202636.5 36.5 35.6 0.01 %
Bone Bar & Grill LLC(*,#)3547 &3551 Philipsburg Bigler Hwy, West Decatur, PA 16878Food Services and Drinking PlacesTerm Loan7%6/30/204234.7 34.7 18.1 0.01 %
Bowl Mor, LLC dba Bowl Mor Lanes / Spare Lounge, Inc.(*,#)201 Highland Ave, East Syracuse, NY 13057Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%3/13/2039201.2 201.2 191.7 0.06 %
Brandywine Picnic Park, Inc. and B.Ross Capps & Linda Capps(*,#)690 South Creek Rd, West Chester, PA 19382Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%3/30/2031145.7 145.7 143.9 0.05 %
Calhoun Satellite Communications, Inc.(*,#)1914 Tigertail Blvd, Dania Beach, FL 33004TelecommunicationsTerm Loan7%12/2/2026333.8 333.8 239.1 0.08 %
Capital Containers LLC(*,#,^)7610 Auburn Blvd #4B, Citrus Heights, CA 95610Truck TransportationTerm LoanPrime plus 0%12/15/202710.4 10.4 10.2 0.00 %
Carl R. Bieber, Inc. dba Bieber Tourways/Bieber Transportation/Bieber(*,#)320 Fair St., Kutztown, PA 19530Transit and Ground Passenger TransportationTerm Loan7.5%9/30/2027366.2 366.2 132.9 0.04 %
299
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
Central Medical Clinic, PLLC- Clinica Central(*,#)393 North Dunlap St. Ste LL26, LL34, LL38, St. Paul, MN 55104Ambulatory Health Care ServicesTerm Loan8.25%6/7/202913.2 13.2 12.9 0.00 %
Chickamauga Properties, Inc., MSW Enterprises, LLP(*,#)214 Sutherland Way, Rocky Face, GA 30740Amusement, Gambling, and Recreation IndustriesTerm Loan6.25%12/22/203559.0 59.0 57.6 0.02 %
Children First Home Health Care Inc(*,#,^)1220 Broadcasting Rd Ste 202, Wyomissing, PA 19610Ambulatory Health Care ServicesTerm Loan7.5%12/27/2028282.4 282.4 57.5 0.02 %
CIS BIG DOG, LLC(*,#,^)8920 US HWY, 62 WEST, Cynthiana, KY 41031Administrative and Support ServicesTerm LoanPrime plus 2.75%9/19/202746.7 46.7 44.5 0.01 %
Clark Realty LLC(*,#)4 Walker Way, Albany, NY 12205Real EstateTerm Loan8%8/29/204173.3 73.3 30.5 0.01 %
Cleland Pharmacy LLC(*,#,^)202 S First St., Wakeeney, KS 67672Health and Personal Care Stores Term LoanPrime plus 0%3/28/202918.8 18.8 11.9 0.00 %
Royal Blue Investments, Inc. and Cleland Pharmacy LLC(*,#,^)202 S. 1st St., Wakeeny, KS 67672Health and Personal Care Stores Term LoanPrime plus 0%7/31/204249.3 49.3 47.6 0.02 %
Colts V LLC and Nowatzke Service Center, Inc dba Nowatzke Truck & Trai(*,#)6900 Whitmore Lake Rd, Whitmore Lake, MI 48189Repair and MaintenanceTerm Loan6.75%9/26/2039553.3 553.3 411.1 0.13 %
Commonwealth Diagnostics International, Inc(*,#,^)39 Norman St. a/k/a 1 Holyoke Square, Salem, MA 01970Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%9/20/2027951.0 951.0 906.3 0.29 %
Conference Services International ETC LLC(*,#,^)4802 West Van Buren St., Phoenix, AZ 85007Administrative and Support ServicesTerm Loan8%8/14/2028517.4 517.4 8.8 0.00 %
Custom Software, Inc. a Colorado Corporation dba M-33 Access(*,#)380 E. Borden Rd, Rose City, MI 48654Professional, Scientific, and Technical ServicesTerm Loan6.25%11/30/2024177.4 177.4 75.2 0.02 %
CZAR Industries, Inc.(*,#,^)1424 Heath Ave, Ewing, NJ 08638Machinery ManufacturingTerm Loan8.25%12/19/2027141.3 141.3 54.3 0.02 %
D&G Capital LLC dba Miami Grill 277(*,#)2521 North Federal Hwy, Unit C, Boca Raton, FL 33431Food Services and Drinking PlacesTerm Loan6.5%12/16/202542.7 42.7 10.7 0.00 %
D.A.F.S Transport, LLC(*,#,^)207 S. Teresa St., Monahans, TX 79756Truck TransportationTerm LoanPrime plus 0%12/21/2028560.6 560.6 540.7 0.17 %
Darnoc Enterprises Inc, Setira Paul Inc dba Conrad's Famous Bakery, In(*,#,^)299 Utica Ave, Brooklyn, NY 11203Food ManufacturingTerm LoanPrime plus 0%6/27/2043337.0 337.0 321.1 0.10 %
Dean 1021 LLC dba Pure Pita(*,#,^)106 Central Ave, Westfield, NJ 07090Food Services and Drinking PlacesTerm LoanPrime plus 0%4/29/202537.1 37.1 24.0 0.01 %
Dependable Lawn Care, Inc.(*,#,^)2320 138TH ST, Blue Island, IL 60406Administrative and Support ServicesTerm LoanPrime plus 0%3/21/2029461.9 461.9 223.3 0.07 %
Dependable Lawn Care, Inc.(*,#,^)2320 138th St., Blue Island, IL 60406Administrative and Support ServicesTerm LoanPrime plus 0%3/21/2044185.7 185.7 108.8 0.04 %
Destination Hope, Inc, TrilogyTreatment & Wellness Center, Inc, The Ac(*,#)6555 NW 9th Ave, Fort Lauderdale, FL 33309Ambulatory Health Care ServicesTerm LoanPrime plus 0%12/30/202924.3 24.3 24.0 0.01 %
DG Business Solutions, Inc(*,#,^)11008 Rene St., Lenexa, KS 66215Professional, Scientific, and Technical ServicesTerm LoanPrime plus 0%9/30/2029200.8 200.8 191.3 0.06 %
300
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
Dixie Transport, Inc. & Johnny D. Brown & Jimmy Brown & Maudain Brown(*,#,^)2685 US Hwy 41, Calhoun, GA 30701Support Activities for TransportationTerm Loan5.25%12/28/20351,316.8 1,316.8 622.9 0.20 %
Doxa Deo Inc dba Luv 2 Play(*,#)1600 Village Market Blvd, Leesburg, VA 20175Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%2/28/202680.6 80.6 78.7 0.03 %
Driven Warehouse/Distribution LLC(*,#)271 East North Ave, Glendale, IL 60139Truck TransportationTerm Loan8%12/22/2027726.2 726.2 328.0 0.11 %
Dynamic Dental Corporation(*,#,^)3760 NW 126th Ave, Coral Springs, FL 33065Merchant Wholesalers, Durable Goods Term Loan7.5%5/31/202960.4 60.4 59.0 0.02 %
E & I Holdings, LP & PA Farm Products, LLC(*,#)1095 Mt Airy Rd, Stevens, PA 17578Food ManufacturingTerm Loan6%4/30/20304,705.7 4,705.7 3,495.2 1.13 %
Eagle Aggregate Transportation, LLC and Eagle Pneumatic Transport LLC(*,#,^)4401 N I-35 #113, Denton, TX 76207Truck TransportationTerm LoanPrime plus 0%3/31/2024155.4 155.4 21.0 0.01 %
Earth First Recycling, LLC and 191 Clark Road, LLC(*,#,^)400 Island Park Rd, Easton, PA 18040Merchant Wholesalers, Durable Goods Term Loan8%6/5/2027338.0 338.0 311.1 0.10 %
Elegant Fireplace Mantels, Inc. dba Elegant Fireplace Mantels(*,#,^)11949 Borden Ave, San Fernando, CA 91340Specialty Trade ContractorsTerm Loan8.25%12/31/202243.9 43.9 — 0.00 %
Ericon, Inc.(*,#)740 Davenport Ave, Fremont, NE 68025Gasoline Stations Term Loan8.25%12/1/2041705.6 705.6 570.4 0.18 %
ERT Group Inc and Curt's Tools Inspection Inc(*,#)5229 142nd Dr. NW, Williston, ND 58801Support Activities for MiningTerm Loan6%3/18/2041694.9 694.9 390.6 0.13 %
Evergreen Pallet LLC and Evergreen Recycle LLC(*,#)302 W 53rd St N., Wichita, KS 67204Wood Product ManufacturingTerm Loan7.25%3/16/2026835.5 835.5 282.6 0.09 %
Magill Truck Line LLC and Jeff J. Ralls(*,#)211 West 53rd St. N., Park City, KS 67204Truck TransportationTerm Loan7.25%2/23/2026176.5 176.5 32.9 0.01 %
Evernook Valley Milk LLC(*,#,^)7448 Emmerson Rd, Everson, WA 98247Animal Production and AquacultureTerm Loan7.5%8/31/2042637.5 637.5 452.2 0.15 %
Excel RP Inc(*,#,^)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%8/30/202366.8 66.8 66.0 0.02 %
Excel RP Inc(*,#)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%3/25/202695.2 95.2 24.3 0.01 %
Excel RP, Inc./Kevin and Joann Foley(*,#)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%7/8/202832.4 32.4 32.1 0.01 %
Florida Apnea Diagnostics LLC(*,#,^)2664 Cypress Ridge Blvd Ste. 101 & 102 A, Wesley Chapel, FL 33544Ambulatory Health Care ServicesTerm Loan8.25%10/20/2027134.2 134.2 34.7 0.01 %
Flower City Customs Inc.(*,#,^)1805 Tebor Rd, Unit 4, Webster, NY 14580Repair and MaintenanceTerm LoanPrime plus 0%12/17/203010.0 10.0 9.6 0.00 %
Four Seasons Laser Center Inc.(*,#,^)4720 NW 2nd Ave Unit D-104 and Unit D-105, Boca Raton, FL 33498Personal and Laundry ServicesTerm LoanPrime plus 0%6/26/2042208.4 208.4 189.4 0.06 %
Four Seasons Laser Center Inc.(*,#,^)4720 NW 2nd Ave Unit D104 and Unit D-105, Boca Raton, FL 33498Personal and Laundry ServicesTerm LoanPrime plus 0%3/28/202912.2 12.2 — 0.00 %
Freedom Enterprises, Inc(*,#)2431 14th Ave SE, Watertown, SD 57201Truck TransportationTerm LoanPrime plus 0%12/20/2029290.0 290.0 211.5 0.07 %
301
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
Freedom Enterprises, Inc - New RE company to be formed(*,#)2431 14th Ave SE, Watertown, SD 57201Truck TransportationTerm LoanPrime plus 0%12/20/2044203.3 203.3 193.8 0.06 %
Frontier Sand LLC(*,#,^)305 Country Hwy AA, New Auburn, WI 54757Mining (except Oil and Gas)Term Loan8.25%11/30/2027463.6 463.6 239.7 0.08 %
GEM2K, LLC dba Precision Precast Group(*,#,^)4150 E Magnolia St., Phoenix, AZ 85034Miscellaneous ManufacturingTerm Loan8.25%5/19/2027140.4 140.4 59.2 0.02 %
Grand Manor Realty, Inc. & Kevin LaRoe(*,#)318 S. Halsted St., Chicago, IL 60661Real EstateTerm Loan6%2/20/202319.0 19.0 18.5 0.01 %
Greensboro Plastic Surgical Associates, PA(*,#,^)2716 Henry St., Greensboro, NC 27405Ambulatory Health Care ServicesTerm Loan6%6/29/2042535.0 535.0 501.4 0.16 %
GT Performance Plus Inc(*,#,^)4210 College St., Beaumont, TX 77707Motor Vehicle and Parts Dealers Term LoanPrime plus 0%6/11/204496.3 96.3 92.9 0.03 %
GT Performance Plus Inc(*,#,^)4210 College St., Beaumont, TX 77707Motor Vehicle and Parts Dealers Term LoanPrime plus 0%6/11/202966.8 66.8 64.4 0.02 %
H.M.C, Incorporated(*,#,^)7190 Oakland Mills Rd Ste 10, Columbia, MD 21046Furniture and Related Product ManufacturingTerm Loan8.25%7/3/2028183.8 183.8 53.2 0.02 %
Hackensack Steel Corporation and Luzerne Ironworks Inc(*,#,^)300 Sly St., Swoyersville, PA 18709Specialty Trade ContractorsTerm Loan6%11/10/2026170.1 170.1 166.1 0.05 %
Hana Pastries Enterprises LLC dba Hana Kitchens, Hana Pastries, Inc. d(*,#,^)34 35th St., Brooklyn, NY 11232Food ManufacturingTerm Loan6%12/14/202777.2 77.2 28.4 0.01 %
HDD Solutions, LLC(*,#)6550 Progress Pkwy, Cedar Hill, MO 63016Heavy and Civil Engineering ConstructionTerm Loan8.25%12/31/2028552.8 552.8 371.7 0.12 %
HG Ventures, Inc. dba Diamond Head Trucking(*,#,^)100 Phoenix Dr, Finleyville, PA 15332Truck TransportationTerm Loan7.5%6/29/2030794.6 794.6 86.1 0.03 %
Humd, LLC dba La Rosa Chicken and Grill(*,#)3111 N. University Dr, Coral Springs, FL 33065Food Services and Drinking PlacesTerm LoanPrime plus 0%1/31/2030124.6 124.6 121.6 0.04 %
iFood, Inc. dba Steak N Shake(*,#,^)2840 E Millbrook Rd, Raleigh, NC 27604Food Services and Drinking PlacesTerm LoanPrime plus 0%6/30/2039541.9 541.9 516.4 0.17 %
iFood, Inc. dba Steak N Shake(*,#,^)5900 Duraleigh Rd, Raleigh, NC 27612Food Services and Drinking PlacesTerm LoanPrime plus 0%7/31/2024148.5 148.5 141.5 0.05 %
IHC Hardware Inc.(*,#,^)614 Broad St., Story City, IA 50248Building Material and Garden Equipment and Supplies Dealers Term Loan6%12/6/204295.1 95.1 61.1 0.02 %
Insight Vision Care, PC, CRMOD Lubbock, P.C.,Vielm Vision Eyecare Inc(*,#,^)4899 Griggs Rd, Houston, TX 77021Ambulatory Health Care ServicesTerm Loan7.75%12/27/2043967.7 967.7 217.5 0.07 %
Iredell Oral & Facial Surgery, P.C. dba Johnson Oral Surgery(*,#,^)229 Medical Park Rd, Ste 310, Mooresville, NC 28117Ambulatory Health Care ServicesTerm Loan6%3/29/2044820.8 820.8 668.3 0.22 %
J&K Fitness, LLC dba Physiques Womens Fitness Center(*,#)2505 Verot School Rd, Lafayette, LA 70508Amusement, Gambling, and Recreation IndustriesTerm Loan8%6/8/203614.6 14.6 14.3 0.00 %
J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value(*,#)640 Dubois St., Du Bois, PA 15801Building Material and Garden Equipment and Supplies Dealers Term Loan6%11/10/202633.1 33.1 32.3 0.01 %
302
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value(*,#)640 Dubois St., Dubois, PA 15801Building Material and Garden Equipment and Supplies Dealers Term Loan6%11/10/2041426.4 426.4 416.3 0.13 %
Japp Business Inc dba Pick and Eat and Japp Drink Corp.(*,#)4179 Broadway, New York, NY 10033Food Services and Drinking PlacesTerm LoanPrime plus 0%11/30/202572.3 72.3 42.8 0.01 %
Jay Carlton's, LLC dba Jay Birds Rotisserie & Grill(*,#,^)24480 W 10 Mile RD, Southfield, MI 48033Food Services and Drinking PlacesTerm Loan6%1/4/202934.8 34.8 25.7 0.01 %
Jessie's Radiator and Automotive(*,#,^)1777 N Ventura Ave, Ventura, CA 93001Repair and MaintenanceTerm LoanPrime plus 0%10/31/202914.7 14.7 14.3 0.00 %
JMD Aviation Holdings, LLC(*,#,^)8050 North West 90th St., Medley, FL 33166Rental and Leasing ServicesTerm LoanPrime plus 0%12/15/2027397.5 397.5 388.1 0.13 %
Johnny's Boy LLC(*,#,^)127 East King St., Martinsburg, WV 25401Food Services and Drinking PlacesTerm LoanPrime plus 0%6/7/204497.3 97.3 92.7 0.03 %
Kantz LLC and Kantz Auto LLC dba Kantz's Hometown Auto(*,#)200 West Adams St, Cochranton, PA 16314Motor Vehicle and Parts Dealers Term Loan6.25%10/29/203911.1 11.1 1.4 0.00 %
Kids at Heart,LLC dba Monster Mini Golf(*,#)10 Newbury St., Danvers, MA 01923Amusement, Gambling, and Recreation IndustriesTerm Loan6.75%9/22/202617.8 17.8 16.5 0.01 %
Kidtastic LLC dba The Little Gym of Audubon(*,#)2850 Audubon Dr, Audubon, PA 19403Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%7/27/202644.9 44.9 44.3 0.01 %
Kostekos Inc dba New York Style Pizza(*,#)10 South King St., Gloucester, NJ 08030Food Services and Drinking PlacesTerm Loan8%2/6/204034.8 34.8 17.7 0.01 %
LA Diner Inc dba Loukas L A Diner(*,#)3205 Route 22 East, Branchburg, NJ 08876Food Services and Drinking PlacesTerm Loan7.25%9/28/203792.8 92.8 63.5 0.02 %
LAN Doctors Inc(*,#)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%8/28/202552.6 52.6 50.7 0.02 %
LAN Doctors Inc(*,#)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%3/16/202643.4 43.4 41.9 0.01 %
Legacy Roof Contractors LLC(*,#,^)32091 Broken Branch Circle, Spanish Fort, AL 36527Specialty Trade ContractorsTerm Loan6%2/28/2044294.0 294.0 192.9 0.06 %
Linqserv Inc.(*,#,^)1555 Lyell Ave, Rochester, NY 14606Transit and Ground Passenger TransportationTerm Loan7.5%11/9/2027261.2 261.2 15.9 0.01 %
Luv 2 Play Nor Cal, LLC(*,#,^)82 Clarksville Rd, Folsom, CA 95682Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%9/25/2029101.8 101.8 67.0 0.02 %
Luv 2 Play Nor Cal, LLC dba Luv 2 Play(*,#)82 Clarksville Rd, Folsom, CA 95630Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%9/27/202634.4 34.4 33.6 0.01 %
Luv 2 Play Temecula, LLC(*,#)26469 Ynez Rd, Temecula, CA 92591Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%8/15/202633.4 33.4 32.6 0.01 %
Malhame & Company Publishers & Importers Inc.(*,#,^)180 Orville Rd, Bohemia, NY 11780Merchant Wholesalers, Durable Goods Term LoanPrime plus 0%6/29/202763.7 63.7 61.4 0.02 %
Mariam Diner Inc dba Country Kitchen Restaurant(*,#)17393 Main St., Hesperia, CA 92345Food Services and Drinking PlacesTerm Loan8%3/18/202642.8 42.8 3.8 0.00 %
Marlin Lighting LLC(*,#,^)7207 B Lockport Pl, Lorton, VA 22079Specialty Trade ContractorsTerm Loan6%12/19/202880.2 80.2 78.3 0.03 %
Matchless Transportation LLC dba First Class Limo(*,#)31525 Aurora Rd # 5, Solon, OH 44139Transit and Ground Passenger TransportationTerm Loan6.25%5/31/2020118.8 118.8 26.8 0.01 %
303
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
Medeiros Holdings Inc dba Outdoor Lighting Perspectives of the Triad(*,#)780 S Peace Haven Rd, Winston Salem, NC 27103Electrical Equipment, Appliance, and Component ManufacturingTerm Loan7%11/25/202510.5 10.5 6.6 0.00 %
MIT LLC(*,#,^)11 North Peach ST., Medford, OR 97504Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/31/204284.9 84.9 68.8 0.02 %
Mojo Brands Media, LLC(*,#)3260 University Blvd., Ste 100, Winter Park, FL 32792Broadcasting (except Internet)Term Loan6%8/28/2023673.2 673.2 114.5 0.04 %
Moon Landscaping, Inc, Moon Group, Inc moon Nursery, Inc, Moon Site Ma(*,#,^)145 Moon Rd, Chesapeake City, MD 21915Merchant Wholesalers, Nondurable Goods Term LoanPrime plus 2.75%6/27/20291,083.3 1,083.3 961.9 0.31 %
Morris Glass and Construction Inc(*,#)40058 Hwy 30, Astoria, OR 97103Specialty Trade ContractorsTerm Loan15%10/1/2023319.6 319.6 145.9 0.05 %
Mr. Lube, Inc(*,#,^)721 E Westpoint Dr., Wasilla, AK 99654Repair and MaintenanceTerm LoanPrime plus 2.75%6/22/2043654.6 654.6 623.7 0.20 %
Mr. Lube, Inc.(*,#,^)721 E. West Point Dr, Wasilla, AK 99654Repair and MaintenanceTerm LoanPrime plus 2.75%6/22/2028516.8 516.8 69.3 0.02 %
Murf & Sons LLC(*,#,^)3821 Pleasant Hill Rd, Store #B-107, Kissimmee, FL 34746Food Services and Drinking PlacesTerm Loan6%11/16/202744.9 44.9 43.9 0.01 %
N Transport LLC(*,#,^)5348 W Brown Ave, Fresno, CA 93722Truck TransportationTerm Loan8%11/20/2027365.8 365.8 31.8 0.01 %
National Dredging Services of North Florida, Inc.(*,#,^)1537 Northwest Main Blvd., Lake City, FL 32055Repair and MaintenanceTerm LoanPrime plus 0%6/27/202840.1 40.1 38.3 0.01 %
National Dredging Services of North Florida, Inc.(*,#,^)1537 Northwest Main Blvd., Lake City, FL 32055Repair and MaintenanceTerm LoanPrime plus 0%6/27/204327.2 27.2 26.0 0.01 %
Olsen Bros. Transportation, Inc. & Golden Spike Leasing, LLC(*,#,^)2520 Pennsylvania Ave, Ogden, UT 84401Truck TransportationTerm Loan8.25%6/20/2028505.7 505.7 31.2 0.01 %
Panther Ironworks and Rigging Solutions LLC(*,#)1028 Washburn Switch Rd, Shelby, NC 28150Specialty Trade ContractorsTerm Loan6%11/10/2026112.7 112.7 83.1 0.03 %
Paragon Fabricators Inc, Paragon Field Services, Inc and Paragon Globa(*,#)412 and 500 Main St., La Marque, TX 77568Heavy and Civil Engineering ConstructionTerm Loan7%9/28/2026558.1 558.1 28.3 0.01 %
Paragon Global, LLC and Paragon Fabricators Inc and Paragon Field Serv(*,#)412 and 500 Main St., La Marque, TX 77568Heavy and Civil Engineering ConstructionTerm Loan7%9/28/2041110.1 110.1 30.0 0.01 %
Pecos Entertainment LLC dba State Theater and Pecos Inn LLC dba Econo(*,#,^)421 S. Oak St., Pecos, TX 79772Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 0%3/27/2042388.0 388.0 369.7 0.12 %
Pecos Entertainment LLC dba State Theater(*,#,^)421 South Oak St, Pecos, TX 79772Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 0%12/31/2029123.4 123.4 120.5 0.04 %
Pecos Inn LLC dba Econo Lodge(*,#)2207 W Third St., Pecos, TX 79772AccommodationTerm LoanPrime plus 0%4/28/2041621.9 621.9 592.7 0.19 %
Peter K Lee MD, PC dba Atlanta Primary Care(*,#,^)211 Roberson Mill Rd, Milledgeville, GA 31061Ambulatory Health Care ServicesTerm Loan8.25%9/13/2043859.6 859.6 785.3 0.25 %
Peter K Lee MD, PC dba Atlanta Primary Care LLC(*,#,^)5 Ashford Way, Hawkinsville, GA 31061Ambulatory Health Care ServicesTerm Loan8.25%9/13/2028381.0 381.0 372.0 0.12 %
Picon Motors LLC dba The New Young's Motors(*,#,^)199-211 Central Ave, Orange, NJ 07080Motor Vehicle and Parts Dealers Term Loan6%6/12/2029213.8 213.8 102.9 0.03 %
304
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
Play4Fun dba Luv 2 Play(*,#,^)13722 Jamboree Rd, Irvine, CA 92602Amusement, Gambling, and Recreation IndustriesTerm Loan7.5%3/7/2028148.1 148.1 144.6 0.05 %
Top Cat Ready Mix, LLC, Ples Investments LLC, and Pappy's Sand and(*,#)13851 S State HWY 34, Scurry, TX 75158Specialty Trade ContractorsTerm Loan8.25%10/28/2025431.8 431.8 160.7 0.05 %
Prestige Construction of Florida, LLC(*,#,^)1404 Yorktown St. Ste E, Deland, FL 34944Construction of BuildingsTerm Loan6%5/23/2042105.1 105.1 101.3 0.03 %
Providence Management Environmental, LLC, Tindol Energy Group, LLC(*,#,^)6570 W Hwy 67, Cleburne, TX 76033Waste Management and Remediation ServicesTerm Loan6%6/19/202970.0 70.0 68.3 0.02 %
R & K Contracting Inc(*,#)3605 NW 31st Ave, Fort Lauderdale, FL 33309Specialty Trade ContractorsTerm LoanPrime plus 0%2/18/20268.3 8.3 8.1 0.00 %
Ramjay Inc.(*,#,^)85 S. Bragg St. Ste 303, Alexandria, VA 22312Transit and Ground Passenger TransportationTerm Loan8.25%1/13/2027322.0 322.0 99.4 0.03 %
Recovery Boot Camp, LLC, Rule 62, Inc. and Healing Properties, LLC(*,#,^)85 SW 5th Ave, Delray Beach, FL 33444Ambulatory Health Care ServicesTerm Loan7.75%12/28/2028104.8 104.8 0.5 0.00 %
RG Productions LLC(*,#,^)2414 W Battlefield Ste H, Springfield, MO 65807Rental and Leasing ServicesTerm Loan6%3/28/202976.1 76.1 7.7 0.00 %
Rich's Food Stores LLC dba Hwy 55 of Wallace(*,#)611 East Southerland St., Wallace, NC 28466Food Services and Drinking PlacesTerm Loan8.25%9/14/202699.3 99.3 41.6 0.01 %
Rihahn Inc. dba RDBL, Inc(*,#,^)1397 McGuire Rd, Lamar, AR 72846Forestry and LoggingTerm Loan6%9/14/2028115.0 115.0 44.9 0.01 %
RIHAHN INC dba RDBL, INC.(*,#,^)1397 McGuire Rd, Lamar, AR 72846Forestry and LoggingTerm LoanPrime plus 0%2/5/20295.4 5.4 — 0.00 %
Route 130 SCPI Holdings LLC Route 130 SCPI Operations LLC(*,#)423-429 Route 156, Trenton, NJ 08620Food Services and Drinking PlacesTerm Loan6.25%9/30/2039279.5 279.5 45.8 0.01 %
RWBB LLC(*,#,^)4120 7th Ave, Kenosha, WI 53140Food Services and Drinking PlacesTerm LoanPrime plus 0%6/26/204474.3 74.3 49.0 0.02 %
RWBB LLC(*,#)4120 7th Ave, Kenosha, WI 53140Food Services and Drinking PlacesTerm LoanPrime plus 0%12/19/202915.2 15.2 14.5 0.00 %
Sambella Holdings, LLC and Strike Zone Entertainment Center LLC(*,#)726-740 South Fleming St., Sebastian, FL 32958Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%11/23/2040738.3 738.3 657.2 0.21 %
Sambella Holdings, LLC and Strike Zone Entertainment Center LLC(*,#,^)726-740 South Fleming St., Sebastian, FL 32958Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%12/24/2041492.0 492.0 480.3 0.16 %
Sanabi Investment, LLC dba Oscar's Moving and Storage(*,#,^)11421 N W 107th St., #13, Miami, FL 33178Truck TransportationTerm Loan0%3/5/202783.4 83.4 68.9 0.02 %
Sandlot Ventures LLC and Sandbox Ventures LLC(*,#,^)1857A Elmdale Ave, Glenview, IL 60025Amusement, Gambling, and Recreation IndustriesTerm Loan6%9/25/204088.1 88.1 59.3 0.02 %
Select Propane & Fuel Inc. and Select Fuel & Convenience LLC(*,#)3822 State Route 3, Red Bud, IL 62278Merchant Wholesalers, Nondurable Goods Term Loan7.5%2/10/2030521.6 521.6 34.6 0.01 %
Shining Star Kids, Inc. dba Brain Balance(*,#,^)17323 Ventura Blvd, Encino, CA 91316Educational ServicesTerm LoanPrime plus 0%1/7/202977.2 77.2 73.6 0.02 %
Shooter's Gun Club, LLC(*,#,^)2429 Iowa St. Stes B, C and D, Lawrence, KS 66046Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 0%4/27/2030169.9 169.9 136.0 0.04 %
305
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
Sky Way Enterprises, Inc, A-Liner-8-Aviation, Inc, Kissimmee Aviation(*,#,^)3031 Patrick St, Kissimmee, FL 34741Air TransportationTerm Loan8.25%12/12/2027417.4 417.4 397.8 0.13 %
Skyways LTD,Jet 60 LLC,Mendean Jonath, Inc,Jet AOG, Inc & Jonathan Men(*,#,^)426 15th St. NW, Huron, SD 57350Support Activities for TransportationTerm LoanPrime plus 0%6/8/2043365.3 365.3 348.1 0.11 %
Skyways, LTD(*,#,^)350 15th St. NW, Huron, SD 57350Support Activities for TransportationTerm LoanPrime plus 0%3/22/2029740.7 740.7 217.3 0.07 %
Sovereign Communications LLC(*,#)26 E 3 Mile Rd,, Sault Sainte Marie, MI 49783Broadcasting (except Internet)Term Loan6.75%2/7/2024627.4 627.4 113.6 0.04 %
Space Express, LLC(*,#,^)2775 Burris Rd, Davie, FL 33314Truck TransportationTerm Loan6%3/12/2029123.5 123.5 39.7 0.01 %
Specialty Surgery Center, Inc.(*,#,^)5505 Peachtree Dunwoody Rd Stes 640,645, Atlanta, GA 30342Ambulatory Health Care ServicesTerm Loan6%6/28/20291,007.9 1,007.9 146.4 0.05 %
SSI Refrigerated Express Inc. and Robert M Stallone(*,#,^)1001 E. Cooley Dr Ste 102, Colton, CA 92324Truck TransportationTerm LoanPrime plus 0%11/17/202743.9 43.9 — 0.00 %
SSI Refrigerated Express Inc. and Robert M Stallone dba SSI Express(*,#,^)1001 E. Cooley Dr Ste 102, Colton, CA 92324Truck TransportationTerm LoanPrime plus 0%2/28/2027149.8 149.8 106.7 0.03 %
Stat Constructor L.P(*,#,^)9573 US Hwy 220, Stoneville, NC 27048Specialty Trade ContractorsTerm LoanPrime plus 0%8/30/202888.1 88.1 83.9 0.03 %
StillBasi Holdings, Inc. dba Buxton Auto Transport(*,#,^)9371 Jackson Rd, Sacramento, CA 95826Truck TransportationTerm Loan6%3/29/2029263.6 263.6 227.2 0.07 %
Suncrest Stone Products LLC(*,#)341 County Farm Rd, Ashburn, GA 31714Nonmetallic Mineral Product ManufacturingTerm Loan7.25%8/29/2041429.2 429.2 — 0.00 %
Suncrest Stone Products LLC(*,#)341 County Farm Rd, Ashburn, GA 31714Nonmetallic Mineral Product ManufacturingTerm Loan7.5%8/29/2026529.5 529.5 99.9 0.03 %
T and B Boots Inc dba Takken's Shoes(*,#)72 South Main St., Templeton, CA 93465Clothing and Clothing Accessories Stores Term Loan7.25%12/7/2026380.7 380.7 371.6 0.12 %
Tarver-Henley Inc. and Tar-Hen LLC(*,#,^)2125 College Ave, Jackson, AL 36545Building Material and Garden Equipment and Supplies Dealers Term Loan7.75%6/21/204297.8 97.8 38.4 0.01 %
The Alba Financial Group, Inc.(*,#)1420 Spring Hill Rd, McLain, VA 22102Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm Loan6%3/10/20210.1 0.1 0.1 0.00 %
The Country House Restaurant, LLC and Pelton Real Estate, LLC(*,#,^)677 US Route 7, Pittsford, VT 05763Food Services and Drinking PlacesTerm LoanPrime plus 0%6/30/204247.3 47.3 42.7 0.01 %
Victorian Restaurant and Tavern, LLC(*,#,^)226 Maple Ave, Cheshire, CT 06410Food Services and Drinking PlacesTerm Loan8.25%2/22/204280.0 80.0 64.0 0.02 %
Video Vault & Tanning LLC and Mosaic Salon LLC(*,#)W7003 Parkview Dr, Ste A & B, Greenville, WI 54942Rental and Leasing ServicesTerm LoanPrime plus 0%6/4/204059.9 59.9 58.5 0.02 %
White Hawk Inc.(*,#,^)2101 Dr. Martin Luther King Jr. Blvd, Stockton, CA 95205Truck TransportationTerm Loan8.25%12/15/2026917.5 917.5 59.1 0.02 %
Wilban LLC(*,#)454 US Hwy 22, Whitehouse Station, NJ 08889Food Services and Drinking PlacesTerm Loan7.5%3/11/20269.0 9.0 8.7 0.00 %
306
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)
Wilban LLC(*,#)454 US Hwy 22, Whitehouse Station, NJ 08889Food Services and Drinking PlacesTerm Loan7.25%3/28/2039238.6 238.6 80.5 0.03 %
Zahmel Restaurant Suppliers Corp dba Cash & Carry;Zahners Hardware;Zan(*,#,^)33-51 11th St., Astoria, NY 11106Merchant Wholesalers, Nondurable Goods Term Loan8.25%4/28/202775.8 75.8 72.2 0.02 %
Zeeba Company, Inc dba Zeeba Rent-A-Van & 5 Star Rent- A-Van(*,#,^)3200 Wilshire Blvd Ste 1000, Los Angeles, CA 90010Transit and Ground Passenger TransportationTerm Loan7.75%9/27/2028313.9 313.9 213.9 0.07 %
Total Unguaranteed Non-Accrual SBA Investments54,125.5 54,125.5 $30,506.8 9.86 %
Total Unguaranteed SBA Investments$431,970.0 $431,970.0 $424,416.9 137.22 %

307
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)

The Hall at the Yard1412 Alden Rd, Orlando, FL 32803Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/2/2031$2,013.2 $2,013.2 $2,219.6 0.72 %
Little Angels Daycare4551 Summit Blvd, West Palm Beach, FL 33415Social AssistanceTerm LoanPrime plus 2.75%10/3/2046258.1 258.1 292.0 0.09 %
Clean Energyz LLC881 Alma Real Dr Ste T-16, Pacific Palisades, CA 90272Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/11/2031155.4 155.4 174.1 0.06 %
Woodzzy LLC1133 Clarkson Ave, Brooklyn, NY 11212Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/19/20461,617.4 1,617.4 1,833.7 0.59 %
Five Rivers 1938 Enterprise Inc.3032 W Jack London Blvd, Livermore, CA 94551Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/28/2032174.7 174.7 195.7 0.06 %
Kamboj Investments Inc. dba Chicago's Pizza1156 South Main St., Manteca, CA 95337Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/29/2031135.4 135.4 151.7 0.05 %
Crux Solutions, LLC6938 Westover St., Houston, TX 77087Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/30/2031175.3 175.3 196.4 0.06 %
Montauk Donut Group Inc.1669 Montauk Hwy, Bellport, NY 11713Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/12/2031736.1 736.1 819.9 0.27 %
THE JAR CIRCLE INC3545 Merrick Rd, Seaford, NY 11783Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/20/2031125.0 125.0 139.2 0.05 %
MA Allen LLC dba Premier Martial Arts380 East Bethany Dr, Allen, TX 75002Educational ServicesTerm LoanPrime plus 2.75%3/25/203183.5 83.5 93.0 0.03 %
Tiny's Gumbo Bar NYC LLC275 Church St., New York, NY 10013Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/25/2032326.4 326.4 365.6 0.12 %
Shrijee LLC  908 Washington St., Manitowoc, WI 54220AccommodationTerm LoanPrime plus 2.75%12/31/20461,072.4 1,072.4 1,221.2 0.39 %
LAOR7900 S. Orange Blossom Trail, Unit 1, Orlando, FL 32809Health and Personal Care StoresTerm LoanPrime plus 2.75%5/26/20471,546.2 1,546.2 1,743.3 0.56 %
RGV Poke LLC5401 North 10 St. Unit 126, McAllen, TX 78504Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/2/2032123.1 123.1 137.9 0.04 %
Alaska Industrial Paint LLC1301 North Post Rd, Anchorage, AK 99501Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/8/2032193.8 193.8 217.0 0.07 %
B & W Towing LLC701 Addison Rd, Painted Post, NY 14870Support Activities for TransportationTerm LoanPrime plus 2.75%2/9/2047646.9 646.9 737.5 0.24 %
Black Market Restaurant Group Inc29941 Aventura, Ste K, Rancho Santa Margarita, CA 92688Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/24/2032265.5 265.5 297.3 0.10 %
C.D.A. Serviceability Trust Inc.4501 6th Ave, Tacoma, WA 98406Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/2046622.5 622.5 709.7 0.23 %
CJ REAL ESTATE PARTNERS LLC1800 E Palm Ave, Tampa, FL 33605Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/20472,078.0 2,078.0 2,345.5 0.76 %
Jafar & Jamal Inc.11 Highland Ave, Malden, MA 02148Food and Beverage StoresTerm LoanPrime plus 2.75%3/29/2032177.1 177.1 198.4 0.06 %
Metro of Livernois17149 Livernois, Detroit, MI 48221TelecommunicationsTerm LoanPrime plus 2.75%1/29/20471,822.1 1,822.1 2,059.0 0.67 %
Mitchell Authentic, Inc. dba Rock Box Fitness4880 Lower Roswell Rd, Marietta, GA 30068Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/12/2032356.5 356.5 396.1 0.13 %
308
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Balanced Health & Fitness LLC5110 Mae Anne Dr, Ste 702, Reno, NV 89521Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/2032155.0 155.0 173.6 0.06 %
Kynytyx Inc.990A Station Rd, Bellport, NY 11713Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/22/2032641.8 641.8 717.2 0.23 %
M&P_CAL, LLC8086 East Santa Canyon Rd, Anaheim, CA 92808Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/22/2032127.8 127.8 143.1 0.05 %
Kedai Indonesian Café110 S Mountain Ave, Upland, CA 91786Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/203285.8 85.8 96.1 0.03 %
Potato Bros LLC dba Crumbl Cookies1435 N Wells St., Chicago, IL 60610Food and Beverage StoresTerm LoanPrime plus 2.75%3/28/2032129.5 129.5 145.1 0.05 %
INE Incorporated1040-1100 S. Mt. Vernon Ave, Riverside, CA 92507Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/3/2032102.0 102.0 114.2 0.04 %
Square One Step LLC10710 Barker Cypress Rd, Ste B, Cypress, TX 77433Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/4/2032151.4 151.4 169.5 0.05 %
Bofill's Barbeque LLC15159 South Cicero Ave, Oak Forest, IL 60452Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/10/2047270.0 270.0 307.8 0.10 %
Fyzical Therapy & Balance Center3780 Riverchase Village, Ste 900, Hoover, AL 35244Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/19/203278.7 78.7 88.1 0.03 %
Gerland Investments, Inc.12611 I-10 West, Ste 102, San Antonio, TX 78230Educational ServicesTerm LoanPrime plus 2.75%4/22/203272.0 72.0 80.7 0.03 %
LR Greenview LLC2977 Ygnacio Valley Rd, Unit 2977, Pleasant Hill, CA 94523Food and Beverage StoresTerm LoanPrime plus 2.75%4/24/203248.2 48.2 53.9 0.02 %
Hotworxs Studio13435 University Ave, Clive, IA 50325Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/30/2032137.2 137.2 153.7 0.05 %
Foster the Community LLC13451 and 13453 Fishhawk Blvd, Riverview, FL 33569Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/8/203274.4 74.4 83.3 0.03 %
Suha Signs LLC8211 Byron Center Ave SW, Byron Center, MI 49315Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/9/2032183.6 183.6 205.6 0.07 %
Suha Promotions LLC8211 Byron Center Ave SW, Byron Center, MI 49315Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/9/2032170.1 170.1 190.5 0.06 %
Suha Restaurants8211 Byron Center Ave SW, Byron Center, MI 49315Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/9/2032423.8 423.8 474.6 0.15 %
IV Therapy Management 2 Sears Dr, Paramus, NJ 07652Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/13/203242.3 42.3 47.4 0.02 %
Momentum Metal Finishing1286 Anvilwood Ave, Sunnyvale, CA 94089Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/13/2047253.9 253.9 288.1 0.09 %
BGF Bobby Q’s Inc365 W Sunrise Hwy, Freeport, NY 11520Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/13/2047444.0 444.0 504.0 0.16 %
La Taqueria Inc10 Greenwich Ave, GREENWICH, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/17/2032109.5 109.5 121.6 0.04 %
Yours II Cosmetology Academy Inc.  1416 W Columbia Ave, Battle Creek, MI 49015Educational ServicesTerm LoanPrime plus 2.75%12/21/20472,471.3 2,471.3 2,783.2 0.90 %
Alaska Industrial Paint LLC1301 North Post Rd, Anchorage, AK 99501Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/21/204775.0 75.0 85.1 0.03 %
Colorado Avocado LLC11590 Ridgeline Dr, Colorado Springs, CO 80921Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/203226.3 26.3 29.2 0.01 %
309
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
3 Generations LLC2800 Baton Rouge Rd, Williamstown, KY 41097Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/203227.5 27.5 30.5 0.01 %
Clean Pro 1, LLC385 Boston Post Rd, Orange, CT 06477Construction of BuildingsTerm LoanPrime plus 2.75%5/29/2047294.1 294.1 333.9 0.11 %
Ride4U747 N State Rd 7, Plantation, FL 33317Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/29/20463,656.3 3,656.3 4,085.9 1.32 %
Northcomm LLC213 Cascade View Court, East Wenatchee, WA 98802Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/2031225.0 225.0 252.0 0.08 %
Beau & HB Inc. dba Beau’s Billard, Bowling & Arcade100 Village Rd, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/16/202999.2 99.2 106.1 0.03 %
NJ Floats Inc327 Route 202/206, Bedminster Township, NJ 07921Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/12/2046822.0 822.0 914.5 0.30 %
Vendall Ventures LLC25027 South Interstate, WaKeeney, KS 67672AccommodationTerm LoanPrime plus 2.75%12/17/2046823.5 823.5 934.7 0.30 %
Maxwell Hendry & Simmons LLC1619 Jackson St., Fort Myers, FL 33901Real EstateTerm LoanPrime plus 2.75%12/17/2031457.5 457.5 508.4 0.16 %
Regal Express Corporation  4122 County Rd 516, Matawan, NJ 07747Truck TransportationTerm LoanPrime plus 2.75%12/20/2031402.5 402.5 447.3 0.14 %
Vidya Technologies LLC2509 George Mason Dr, Virginia Beach, VA 23456Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/20/203145.1 45.1 50.5 0.02 %
The Handyman Clarksville LLC  2727 Union Hall Rd, Clarksville, TN 37040Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/22/2031562.5 562.5 625.1 0.20 %
LDI Energy Services LLC  6519 103 West Ave, Tioga, ND 58852Support Activities for MiningTerm LoanPrime plus 2.75%12/22/2046819.8 819.8 930.4 0.30 %
Rana N Hassan MD PC71 Franklin Ave, Franklin Square, NY 11010Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/2031342.0 342.0 380.0 0.12 %
BYC LaQuinta LLC78430 CA-111, La Quinta, CA 92253Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/22/20461,711.1 1,711.1 1,937.8 0.63 %
Outdoor Equipment Manufacturer LLC  3520 NW 51st St., Miami, FL 33142Textile Product MillsTerm LoanPrime plus 2.75%12/23/2031281.3 281.3 312.5 0.10 %
CNJ Services LLC  5519 Ironhorse Rd, North Chesterfield, VA 23234Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/23/203172.3 72.3 80.9 0.03 %
Riaz & Son, Inc.  100-15 94th Ave, Ozone Park, NY 11416Food and Beverage StoresTerm LoanPrime plus 2.75%12/23/2046443.3 443.3 503.1 0.16 %
Sk8 House Virginia Beach LLC  600 Lynnhaven Pkwy, Virginia Beach, VA 23452Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/23/203189.3 89.3 100.0 0.03 %
Alaska Demolition LLC  2817 Rampart Dr, Anchorage, AK 99501Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/20463,750.0 3,750.0 4,190.6 1.35 %
Freedom Construction LLC2897 E Massengale Rd, Shelbyville, IN 46176Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/28/203161.2 61.2 68.5 0.02 %
Shieldcoat Technologies Inc.308 Ellen Trout Dr, Lufkin, TX 75904Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%12/28/20462,212.5 2,212.5 2,483.5 0.80 %
Lotus Care LLC14000 Sunfish Lake Blvd, NW, MN 55303Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/28/2031127.5 127.5 142.8 0.05 %
Unique Surveillance LLC925 South 21st Ave, Hollywood, FL 33020Administrative and Support ServicesTerm LoanPrime plus 2.75%12/28/20313,678.0 3,678.0 4,045.8 1.31 %
310
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
CS Concept Holdings LLC4350 Canada Rd, :, Lakeland, TN 38002Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/28/2031432.0 432.0 483.8 0.16 %
Monticello Corporation  600 Preston Ave, Charlottesville, VA 22903Food and Beverage StoresTerm LoanPrime plus 2.75%12/29/2031630.0 630.0 705.6 0.23 %
Beyond The Numbers CPAs Inc. 1004 Lewis Ave, Billings, MT 59102Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/20461,260.0 1,260.0 1,438.0 0.46 %
Oh Crumb On! 57 East 3rd Ave, Spring Grove, PA 17362Couriers and MessengersTerm LoanPrime plus 2.75%12/29/203142.5 42.5 47.6 0.02 %
Altitude Roofing LLC  2909 N Tindle Blvd, Flagstaff, AZ 86004Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/2031240.0 240.0 268.8 0.09 %
The Dance Affair, Inc. 850 N Winchester Blvd, San Jose, CA 95128Educational ServicesTerm LoanPrime plus 2.75%12/29/203145.9 45.9 51.4 0.02 %
Belcher's Electric LLC  138 Dorchester St., Greenwood, SC 29646Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/29/2031114.8 114.8 128.5 0.04 %
Nova Engineering Inc. 4373 Viewridge Ave, Ste A, San Diego, CA 92123Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/2031150.0 150.0 168.0 0.05 %
Lillie Mae's Place, LLC 57 Main St., East Haven, CT 06512Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/29/2046891.0 891.0 1,019.1 0.33 %
Bright Horizons Preschool, LLC 275 Enterprise Dr, Valdosta, GA 31601Social AssistanceTerm LoanPrime plus 2.75%12/29/2046660.8 660.8 750.0 0.24 %
Arclight Industries LLC  340 Quail Run Rd,, Venetia, PA 15367Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/29/2046337.5 337.5 386.0 0.12 %
Champion Volleyball Club of Houston LLC 19418 Pinehurst Trail Dr, Humble, TX 77346Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/29/2046484.5 484.5 549.9 0.18 %
Eastern Aero Marine, Inc.  5502 NW 37th Ave, Miami, FL 33142Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/29/20463,750.0 3,750.0 4,190.6 1.35 %
Hacienda Car Wash Inc. 2400 S Goliad St., Rockwall, TX 75087Repair and MaintenanceTerm LoanPrime plus 2.75%12/29/203190.0 90.0 100.8 0.03 %
Happy Wheels Charter LLC 4 Old Elm St., Salusbury, MA 01952Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/29/2046540.0 540.0 612.9 0.20 %
Kosovar Corporation355 Smith Ridge Rd, South Salem, NY 10590Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/29/20461,020.0 1,020.0 1,156.4 0.37 %
Pole Dance Carolinas LLC 9826 Gilead Rd, C -200, Hunterville, NC 28078Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/29/2031123.8 123.8 138.6 0.04 %
Henry J. Fishman 2021 K St. Ste 400 NW, Washington, DC 20006Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/29/20311,012.5 1,012.5 1,123.9 0.36 %
Inspired Education 2 LLC  221 Edinburg Rd, Mercerville, NJ 08619Social AssistanceTerm LoanPrime plus 2.75%12/29/20462,250.0 2,250.0 2,542.5 0.82 %
RV Liquidation Center984 W Shaw Ave, Clovis, CA 93612Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/29/20311,038.8 1,038.8 1,151.7 0.37 %
CPH Milpitas LLC  1806 Milmont Dr, Milpitas, CA 95035Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/29/2031262.5 262.5 294.0 0.10 %
3815 Media Inc. 3201 Peachtree Corners Circle, Peachtree Corners, GA 30092Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/30/20311,125.0 1,125.0 1,247.3 0.40 %
Calderon Insurance Agency 5127 Franklin Blvd, #3, Sacramento, CA 95820Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/29/2046543.5 543.5 616.8 0.20 %
311
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
899 Toscanini LLC899 Main St., Cambridge, MA 02139Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/2031270.0 270.0 302.4 0.10 %
Jones Roger Shermann Inn Inc.195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/4/203060.6 60.6 60.6 0.02 %
Hackstaff Restaurants 248 W 1st. St. Ste 201, Reno, NV 89501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/2029402.2 402.2 402.2 0.13 %
Matrix Z LLC800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 6.5%2/27/202910.2 10.2 10.2 — %
Rello Inc.8063 Jericho Turnpike, Woodbury, NY 11797Personal and Laundry ServicesTerm LoanPrime plus 6.5%4/17/20295.0 5.0 5.0 — %
2Choice2Friends LLC901 W Braker Lane, Austin, TX 78758Food Services and Drinking PlacesTerm LoanPrime plus 6.5%4/17/202910.3 10.3 10.3 — %
NYM Solutions Inc.12150 SW 128th St. CT Ste 209, Miami, FL 33186Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%5/6/202910.4 10.4 10.4 — %
Clowers Trucking by Faith LLC705 E Brookwood PL, Valdosta, GA 31601Truck TransportationTerm LoanPrime plus 6.5%5/23/202910.6 10.6 10.6 — %
MCM Design LLC5926 Vinings Vintage Way, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/23/20298.1 8.1 8.1 — %
Still Photography195 Terrace Place, Apt. 2, Brooklyn, NY 11218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/6/202910.5 10.5 10.5 — %
Archer Cleaners Inc.1514 W. 33rd St., Chicago, IL 60608Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/10/202910.5 10.5 10.5 — %
Law Office of Paula Padilla PLLC2211 E Highland Ave Ste 130, Phoenix, AZ 85016Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/13/20294.2 4.2 4.2 — %
Campuscuts LLC930 Robtrice Ct, Edmond, OK 73430Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/21/20296.3 6.3 6.3 — %
Port Diesel LLC3212 Alex Trask Dr, Castle Hayne, NC 28429Repair and MaintenanceTerm LoanPrime plus 6.5%6/21/202910.5 10.5 10.5 — %
Menshka Inc.88 High St., Mountclair, NJ 07042Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%7/10/202910.5 10.5 10.5 — %
Lawrence Adeyemo & Co LLC209-34 112 Ave, Queens Village, NY 11429Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%7/19/20298.5 8.5 8.5 — %
Gradstreet LLC2437 Corinth Ave Apt 130, Los Angeles, CA 90064Nonstore RetailersTerm LoanPrime plus 6.5%7/30/20296.1 6.1 6.1 — %
A&S Services LLC3888 Lightner Rd, Vandalia, OH 45377Food Services and Drinking PlacesTerm LoanPrime plus 6.5%8/7/202910.6 10.6 10.6 — %
Crystal Clear Accounting34099 Tuscan Creek Way, Temecula, CA 92592Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/26/20292.8 2.8 2.8 — %
Doghouse Sport Fishing Charters Inc.83413 Overseas Hwy, Islamorada, FL 33036Scenic and Sightseeing TransportationTerm LoanPrime plus 6.5%8/30/202910.6 10.6 10.6 — %
No Push Back LLC5405 Neshaminy Blvd, Bensalem, PA 19020Personal and Laundry ServicesTerm LoanPrime plus 6.5%8/30/202910.3 10.3 10.3 — %
Host Marketing LLC206 Bell Lane, Ste B, West Monroe, LA 71291Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/18/202910.7 10.7 10.7 — %
Standard Real Estate Services LLC500 West Silver Spring Dr, Ste K 200,, Glendale, WI 53217Real EstateTerm LoanPrime plus 6.5%9/19/202910.7 10.7 10.7 — %
312
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Bargain Store107 Tabernacle Church Rd, Candor, NC 27229General Merchandise StoresTerm LoanPrime plus 6.5%10/11/202910.7 10.7 10.7 — %
Powerlift Dumbwaiters Inc.2444 Georgia Slide Rd, Georgetown, CA 95634Machinery ManufacturingTerm LoanPrime plus 6.5%10/16/202910.4 10.4 10.4 — %
Pine Mountain Residential LLC10240 Cosmopolitan Circle, Parker, CO 80134Specialty Trade ContractorsTerm LoanPrime plus 6.5%10/16/202910.7 10.7 10.7 — %
James Clark and Company Inc.8885 Haven Ave, Ste 120, Rancho Cucamonga, CA 91730Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%10/22/202910.7 10.7 10.7 — %
Sean McNamara5639 Wood Lane, Allentown, PA 18106Nonstore RetailersTerm LoanPrime plus 6.5%11/14/202910.8 10.8 10.8 — %
The Pinnacle Group105 Springside Dr, Akron, OH 44333Social AssistanceTerm LoanPrime plus 6.5%11/14/202910.8 10.8 10.8 — %
Standard Capital Corp. 2349 Wessington Dr, Virginia Beach, VA 23456Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%12/5/202911.0 11.0 11.0 — %
Scott’s Hardware Inc200 Tuckerton Rd, Medford, NJ 08055Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 6.5%12/6/202910.9 10.9 10.9 — %
HADD Corp364 Rugby Rd, Cedarhurst, NY 11516Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/17/202910.9 10.9 10.9 — %
La Tradicion Cubana Inc.9357 S.W. 40th St., Miami, FL 33165Miscellaneous Store RetailersTerm LoanPrime plus 6.5%12/20/202911.0 11.0 11.0 — %
2 N 1 Home and Lawn LLC1300 Ridenour Blvd, Kennesaw, GA 30152Administrative and Support ServicesTerm LoanPrime plus 6.5%2/3/203011.1 11.1 11.1 — %
All Modes Transportation and Logistics4313 Collingtree Dr, Rockledge, FL 32955Support Activities for TransportationTerm LoanPrime plus 6.5%2/14/203011.0 11.0 11.0 — %
 Green Farm Inc. 1018 W SR 424 Ste 100, Longwood, FL 32750Food and Beverage StoresTerm LoanPrime plus 6.5%11/19/203011.7 11.7 11.7 — %
 Flex Beauty Labs LLC   7512 Dr. Phillip Blvd, Orlando, FL 32819Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 6.5%11/24/203011.7 11.7 11.7 — %
 Dearly Loved Counseling LLC   14052 N Dale Mabry Hwy, Ste 215, Tampa, FL 33618Social AssistanceTerm LoanPrime plus 6.5%11/24/203011.7 11.7 11.7 — %
Diane's Accounting Service119 E Haywood St, England, AR 72046Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/3/203011.8 11.8 11.8 — %
Combs Creative LLC157 Antler Ridge Circle,, Nashville, TN 37214Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/4/20305.2 5.2 5.2 — %
Travel with Love, LLC8465 W Sahara Ave, Ste 111, Las Vegas, NV 89117Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/4/20304.7 4.7 4.7 — %
Jamali LLC2741 Raceway Fairfield West, Pensacola, FL 32503Food Services and Drinking PlacesTerm LoanPrime plus 6.5%12/11/203011.8 11.8 11.8 — %
Donald W. Harris1625 US-59 N, Linden, TX 75563Warehousing and StorageTerm LoanPrime plus 6.5%12/11/203011.8 11.8 11.8 — %
David Benson LLC1422 Euclid Ave, Cleveland, OH 44115Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/16/203011.8 11.8 11.8 — %
Savannah Area Language & Culture Exchange, LLC6 Dovetail Crossing, Savannah, GA 31419Educational ServicesTerm LoanPrime plus 6.5%12/16/203011.8 11.8 11.8 — %
313
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Vege Investments, LLC26400 SW 177th Ave, Homestead, FL 33031Gasoline StationsTerm LoanPrime plus 6.5%12/16/203011.8 11.8 11.8 — %
ASIL Ventures, LLC4354 N Bell Ave, Apt G2,, Chicago, IL 60618Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/22/20304.0 4.0 4.0 — %
SPECTRUM DYNAMICS, INC27727 Dalton Bluff Court, Katy, TX 77494Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/23/203011.8 11.8 11.8 — %
KCL Business Service Inc1042 San Fernando Rd., San Fernando, CA 91340Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 6.5%12/23/203011.8 11.8 11.8 — %
Chris' Angels Cleanning Service LLC2090 Dunwoody Club Dr, Sandy Springs, GA 30350Administrative and Support ServicesTerm LoanPrime plus 6.5%12/23/203011.8 11.8 11.8 — %
Tiki Torch Liquors101 Dallas St., Talihima, OK 74571Food and Beverage StoresTerm LoanPrime plus 6.5%12/23/203011.8 11.8 11.8 — %
Austen Felder Holdings23642 Hwy 25, Franklinton, LA 70438Personal and Laundry ServicesTerm LoanPrime plus 6.5%1/18/203111.9 11.9 11.9 — %
Diamond Ridge Professionals 8629 Mesquite Circle, Magna, UT 84044Construction of BuildingsTerm LoanPrime plus 6.5%1/19/203117.8 17.8 17.8 0.01 %
Centre for Autism Treatment13090 Sundown Rd, Victorville, CA 92392Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/20/203117.8 17.8 17.8 0.01 %
Londerpass Inc.108 N Fiore Pkwy, Vernon Hills, IL 60061Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/21/203117.8 17.8 17.8 0.01 %
Andrew’s Spotless Cleaning LLC 1604 Marcella Dr, Covington, KY 41011Administrative and Support ServicesTerm LoanPrime plus 6.5%1/22/203117.8 17.8 17.8 0.01 %
Wild Thing Accounting & Tax LLC 805 NE 190th Ave, Portland, OR 97230Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/22/203117.8 17.8 17.8 0.01 %
Wild Wellness LLC151 Lake St., Lancaster, OH 43130Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%1/22/20317.8 7.8 7.8 — %
VIIXVII Sewing Studio LLC  277 E Girard Ave, Philadelphia, PA 19125Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 6.5%1/22/203113.2 13.2 13.2 — %
Skypie Studio and Crafts LLC  933 Mary Ave, Opelousas, LA 70570Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%1/22/203117.1 17.1 17.1 0.01 %
Jazma Wise110 Golden Pine Rd SW, Austell, GA 30168Personal and Laundry ServicesTerm LoanPrime plus 6.5%1/28/203111.4 11.4 11.4 — %
uniguide Media LLC105 Pearl St., Sausalito, CA 94965Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%2/11/203117.9 17.9 17.9 0.01 %
Alima Mandiang242 E. Claremont Rd, Philadelphia, PA 19120Personal and Laundry ServicesTerm LoanPrime plus 6.5%2/17/20317.2 7.2 7.2 — %
Benevolent Family Services LLC522 S Independence Blvd, Ste 201, Virginia Beach, VA 23452Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%3/15/203118.1 18.1 18.1 0.01 %
INB Enterprise LLC7761 Diamondback Dr, College Park, MD 20742Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%3/15/203118.1 18.1 18.1 0.01 %
Blasco Tire960 Memorial Dr, Griffin, GA 30223Motor Vehicle and Parts DealersTerm LoanPrime plus 6.5%3/24/203118.0 18.0 18.0 0.01 %
Stephanie Doty82 Diggins Dr, Folsom, CA 95630Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%4/14/203110.7 10.7 10.7 — %
314
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Lockett Trucking and Transport LLC612 Colebridge Dr, Blacklick, OH 43004Truck TransportationTerm LoanPrime plus 6.5%4/14/203118.1 18.1 18.1 0.01 %
RV Solar LLC3442 E Bulk Lane, Oak Creek, WI 53154Specialty Trade ContractorsTerm LoanPrime plus 6.5%4/14/203118.1 18.1 18.1 0.01 %
Foy Commerce LLC  1725 Park Lane S, Ste 2,, Jupiter, FL 33458Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/5/203118.2 18.2 18.2 0.01 %
JERAGARDENS WEDDING RENTALS LLC  5842 South 1150 West, Ogden, UT 84405Rental and Leasing ServicesTerm LoanPrime plus 6.5%7/20/203118.4 18.4 18.4 0.01 %
Basha Home Improvements LLC41 Van Houten Ave, Jersey City, NJ 07305Construction of BuildingsTerm LoanPrime plus 6.5%7/21/20317.5 7.5 7.5 — %
Tarun LLC DBA signature wine and liquor  325 South Limestone, Lexington, KY 40508Food and Beverage StoresTerm LoanPrime plus 6.5%7/23/203118.4 18.4 18.4 0.01 %
C4 Technologies Inc  171 C Ave, Ste C, Coronado, CA 92118Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/6/203118.5 18.5 18.5 0.01 %
Dennis Hair Studio Inc.1566 Union Turnpike, New Hyde Park, NY 11040Personal and Laundry ServicesTerm LoanPrime plus 6.5%9/13/203118.6 18.6 18.6 0.01 %
Asthma & Allergy Medical Care, P.C.68 Nassau Rd, Huntington, NY 11743PPPTerm Loan1.0%5/4/202216.1 16.1 16.1 0.01 %
Kore Surgical Inc26636 Fond Du Lac Rd, Rancho Palos Verdes, CA 90275PPPTerm Loan1.0%5/5/20228.0 8.0 8.0 — %
Dental Designs of Fort Myers, LLC3220 Forum Blvd, #104, Fort Myers, FL 33905PPPTerm Loan1.0%5/12/202234.8 34.8 34.8 0.01 %
Child Welfare League of America Inc.727 15th St NW, Ste 1200, Washington, DC 20005PPPTerm Loan1.0%5/13/202220.0 20.0 20.0 0.01 %
Quality Pool Management161 Rombout Rd, Poughkeepsie, NY 12603PPPTerm Loan1.0%5/13/20226.4 6.4 6.4 — %
CCG Advisors817 W Peachtree St., Ste 205, Atlanta, GA 30308PPPTerm Loan1.0%5/19/202221.5 21.5 21.5 0.01 %
Caveonix7777 Leesburg Pike, Ste 303 South, Falls Church, VA 22043PPPTerm Loan1.0%5/20/202231.0 31.0 31.0 0.01 %
Hamilton Technology Services14115 West 59th Place, Arvada, CO 80004PPPTerm Loan1.0%5/21/202215.3 15.3 15.3 — %
North Carolina Baptist Foundation, Inc.201 Convention Dr, Cary, NC 27511PPPTerm Loan1.0%5/21/202225.7 25.7 25.7 0.01 %
Carrie Risatti307 Montana Ave, #201, Santa Monica, CA 90403PPPTerm Loan1.0%5/21/20221.7 1.7 1.7 — %
Easy Content Media LLC706 Van Nest Dr, Martinsville, NJ 08836PPPTerm Loan1.0%5/26/20225.8 5.8 5.8 — %
Jennie Kwon Designs643 S Olive St, Los Angeles, CA 90014PPPTerm Loan1.0%5/26/20225.4 5.4 5.4 — %
Scalini's, Inc.14485 Hopewell Rd, Alpharetta, GA 30004PPPTerm Loan1.0%5/27/202217.7 17.7 17.7 0.01 %
Sports Academy Integrated Sports Medicine, LLC1011 Rancho Conejo Blvd, Newbury Park, CA 91320PPPTerm Loan1.0%5/27/202231.4 31.4 31.4 0.01 %
315
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Frenchy's1460 3rd St S, Jacksonville Beach, FL 32250PPPTerm Loan1.0%5/28/20228.6 8.6 8.6 — %
Yoga Connection of Pembroke Pines, Inc12592 Pines Blvd, #103, Pembroke Pines, FL 33027PPPTerm Loan1.0%5/28/20222.3 2.3 2.3 — %
Shalik, Morris & Company, LLC80 Crossways Park Dr W, Woodbury, NY 11797PPPTerm Loan1.0%5/29/2022108.3 108.3 108.3 0.03 %
Hawk Management LLC2305 W Horizon Ridge Pkwy, #2024, Henderson, NV 89052PPPTerm Loan1.0%5/29/20221.8 1.8 1.8 — %
Special Events Staffing1015 N Lake Ave, Ste 205, Pasadena, CA 91104PPPTerm Loan1.0%6/1/202254.6 54.6 54.6 0.02 %
The On The Line Company, Inc101 Arch St, Ste 225, Boston, MA 02110PPPTerm Loan1.0%6/1/20229.7 9.7 9.7 — %
Zola Electric Labs, Inc.555 De Haro St, San Francisco, CA 94107PPPTerm Loan1.0%6/2/202250.0 50.0 50.0 0.02 %
Wavecrest Sales LLC501 NE Wavecrest Way, Boca Raton, FL 33432PPPTerm Loan1.0%6/2/20222.0 2.0 2.0 — %
Flynn Gallagher Associates LLC1980 Festival Plaza Dr, Ste 770, Las Vegas, NV 89135PPPTerm Loan1.0%6/2/20220.3 0.3 0.3 — %
Princeton Van Service92 north main St. bldg 4, WINDSOR, NJ 08561PPPTerm Loan1.0%6/3/20221.7 1.7 1.7 — %
Apache Behavioral Health Services, Inc.249 W Ponderosa St, Whiteriver, AZ 85941PPPTerm Loan1.0%6/3/2022241.1 241.1 241.1 0.08 %
Unity Worldwide Ministries Eastern Region800 Blanton Ave, Richmond, VA 23221PPPTerm Loan1.0%6/4/20220.8 0.8 0.8 — %
Amanda Lopez23411 aliso viejo Pkwy, Aliso Viejo, CA 92656PPPTerm Loan1.0%6/4/20220.5 0.5 0.5 — %
YMCA of West San Gabriel Valley401 East Corto St., Alhambra, CA 91801PPPTerm Loan1.0%6/5/202215.7 15.7 15.7 0.01 %
Seattle Ventures LLC2215 3rd Ave W, Seattle, WA 98119PPPTerm Loan1.0%6/5/20222.1 2.1 2.1 — %
Andrew S. Gaffney Foundation245 South St, Morristown, NJ 07960PPPTerm Loan1.0%6/5/20221.4 1.4 1.4 — %
LaFlower Construction, Inc.23888 Madison St, Torrance, CA 90505PPPTerm Loan1.0%6/5/20220.1 0.1 0.1 — %
Camfed U.S.A. Foundation466 Geary St, Ste 400, San Francisco, CA 94102PPPTerm Loan1.0%6/8/202218.2 18.2 18.2 0.01 %
Dental Designs of Naples5048 Tamiami Trail N, Naples, FL 34103PPPTerm Loan1.0%6/9/202221.1 21.1 21.1 0.01 %
OCC installations12102 Manley St, Garden Grove, CA 92845PPPTerm Loan1.0%6/9/20220.7 0.7 0.7 — %
Mora Investment Management9 W Star Island Dr, Miami Beach, FL 33139PPPTerm Loan1.0%6/10/20221.2 1.2 1.2 — %
Copperfield Investment & Development Company1721 Crystal Ann Ave, Las Vegas, NV 89106PPPTerm Loan1.0%6/12/20221.2 1.2 1.2 — %
Dan Counts & Associates, Inc.1780 Prescott Ave, Monterey, CA 93940PPPTerm Loan1.0%6/12/20221.1 1.1 1.1 — %
316
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)
Sunburst Decorative Rock, Inc282 Live Oak Ave, Irwindale, CA 91706PPPTerm Loan1.0%6/16/202218.3 18.3 18.3 0.01 %
DANIELLE|TATE347 Bianco Ridge Ave, Las Vegas, NV 89183PPPTerm Loan1.0%3/31/202620.8 20.8 20.8 0.01 %
David|Ortiz4004 Waterview Cir, Palm Springs, FL 33461PPPTerm Loan1.0%4/26/202618.7 18.7 18.7 0.01 %
Montalban Featherstone13513 7 Mile Rd, Detroit, MI 48205PPPTerm Loan1.0%5/24/202620.8 20.8 20.8 0.01 %
Total SBA Guaranteed Accrual Investments$61,474.1 $61,474.1 $68,716.1 22.22 %


317
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Non-Accrual Investments (4b)
This is a Fly Closet LLC  (*)12408 Kingsview St., Bowie, MD 20721Clothing and Clothing Accessories StoresTerm LoanPrime plus 9.75%1/30/203011.5 11.5 11.5 — %
MIT LLC(*)11 North Peach ST., Medford, OR 97504Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/31/2042254.7 254.7 254.7 0.08 %
Neville Galvanizing, Inc(*)2983 Grand Ave, Pittsburgh, PA 15225Fabricated Metal Product ManufacturingTerm LoanPrime plus 6.00%12/15/2042707.1 707.1 707.1 0.23 %
Chavero's Auto Mart LLC(*)1364 E Palma Vista Dr, Palmview, TX 78572Motor Vehicle and Parts DealersTerm LoanPrime plus 9.75%10/11/202912.5 12.5 12.5 — %
Crystal Cleaning Service (*)26 Cooper Rd, Byhalia, MS 38611Administrative and Support ServicesTerm LoanPrime plus 0%5/9/20298.6 8.6 8.6 — %
R. JOHNSON CRAFTSMANSHIP(*)346 Spring Garden Rd, Milford, NJ 08848Specialty Trade ContractorsTerm LoanPrime plus 0%12/4/203010.0 10.0 10.0 — %
Moon Group, Inc.(*)145 Moon Rd, Chesapeake City, MD 21915Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%6/27/20293,249.8 3,249.8 3,249.8 1.05 %
Total SBA Guaranteed Non-Accrual Investments$4,254.2 $4,254.2 $4,254.2 0.32 %
Total SBA Guaranteed Investments$65,728.3 $65,728.3 $72,970.3 23.59 %
Total SBA Unguaranteed and Guaranteed Investments$497,698.3 $497,698.3 $497,387.2 160.82 %
318
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Controlled Investments (5) (22)
Automated Merchant Services, Inc.(*,#) (7) (21)12230 Forest Hill Blvd., Wellington, FL 33414Data processing, Hosting, and Related Services100% Common Stock—%— — — — — %
CDS Business Services, Inc.(*,#) (8)1985 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Common Stock—%— — 4,428.0 — — %
Line of Credit5.5%Dec 202320,000.0 20,000.0 7,300.0 2.36 %
Newtek Technology Solutions, Inc.(#) (24)1904 W. Parkside Lane Phoenix, AZ 85027Data processing, Hosting, and Related Services100% Common Stock—%— — 19,503.7 36,000.0 11.64 %
Line of Credit10%Nov 202810,540.0 11,000.0 11,000.0 3.56 %
Line of CreditPrime plus 0.5%April 2022750.0 — — — %
Line of CreditPrime plus 0.5%July 2022100.0 225.0 225.0 0.07 %
Newtek Insurance Agency, LLC(*,#) (13)1981 Marcus Ave., Lake Success, NY 11042Insurance Carriers and Related Activities100% Membership Interest—%— — 2,035.0 2,300.0 0.74 %
PMTWorks Payroll, LLC(*,#) (9)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%— — 5,128.1 — — %
Term Loan10%Sept 2022435.0 435.0 324.0 0.10 %
Term Loan10%May 2022750.0 750.0 558.6 0.18 %
Term Loan12%May 2022500.0 500.0 372.4 0.12 %
Term Loan10%July 20221,000.0 1,000.0 745.0 0.24 %
Small Business Lending, LLC(*,#) (12)1981 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%— — 598.0 4,000.0 1.29 %
Term Loan10%June 2023400.0 400.0 400.0 0.13 %
ADR Partners, LLC dba banc-serv Partners, LLC(*,#) (19)8777 Purdue Rd, Indianapolis, IN 46268Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%— — 7,085.2 — — %
Newtek Merchant Solutions, LLC(#) (11)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%— — 16,438.0 114,500.0 37.02 %
Mobil Money, LLC(#) (17)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%— — 2,980.0 3,900.0 1.26 %
Newtek Business Lending, LLC(#) (10)14 East Washington St., Orlando, FL 32801
Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%— — 36,406.4 47,406.4 15.33 %
319
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Controlled Investments (5) (22)
Newtek Conventional Lending, LLC(#) (18) (23)1981 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities50% Membership Interest—%— — 26,903.0 29,463.6 9.53 %
Titanium Asset Management, LLC(*,#) (14)1981 Marcus Ave., Lake Success, NY 11042Administrative and Support ServicesTerm Loan10%March 2023900.0 900.0 603.3 0.20 %
100% Membership Interest—%— — — — — %
Excel WebSolutions, LLC(*,#) (15)888 East Brighton Ave. Syracuse, NY 13205Data processing, Hosting, and Related ServicesTerm Loan10%June 2023159.2 159.2 — — %
100% Membership Interest—    — %
POS on Cloud, LLC(#) (20)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related ServicesTerm Loan10%Sept 20231,300.0 1,300.0 1,300.0 0.42 %
50.14% Membership Interest— — — — — %
Total Controlled Investments$36,834.2 $157,289.0 $260,398.3 84.19 %
320
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2021
(In Thousands)
Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Non-Control Investments (22)
EMCAP Loan Holdings, LLC(+,#) (16)1140 Reservoir Ave., Cranston, RI 02920Securities, Commodity Contracts, and Other Financial Investments and Related Activities4.67% Membership Interest—%— $— $1,000.0 $1,000.0 0.32 %
Total Non-Control Investments$ $1,000.0 $1,000.0 0.32 %
Total Investments$534,532.5 $655,987.3 $758,785.5 245.33 %

^ Investment has been pledged as collateral under the Securitization Trusts.
* Non-income producing security.
# Fair value determined using significant unobservable inputs.
+ Restricted security. The Company’s investments generally are acquired in private transactions exempt from registration under the Securities Act and, therefore, generally are subject to limitations on resale, and may be deemed to be “restricted securities” under the Securities Act. However, unless otherwise indicated, such securities may be sold in certain transactions (generally to qualified institutional buyers) and remain exempt from registration.
(1) Newtek values each unguaranteed portion of SBA 7(a) accrual loans (“Loan”) using a discounted cash flow analysis which projects future cash flows and incorporates projections for Loan pre-payments and Loan defaults using historical portfolio data. The data predicts future prepayment and default probability on curves which are based on Loan age. The recovery assumption for each Loan is specific to the discounted valuation of the collateral supporting that Loan. Each Loan’s cash flow is discounted at a rate which approximates a market yield. The Loans were originated under the SBA 7(a) program and conform to the underwriting guidelines in effect at their time of origination. Newtek has been awarded PLP status from the SBA. Portions of these Loans are not guaranteed by the SBA. Individual loan participations can be sold to institutions which have been granted an SBA 750 license. Loans can also be sold as a pool of loans in a security form to qualified investors.
(2) The interest rates in effect on our loans as of December 31, 2021 are based off a Prime Rate equal to 3.25% and 1 month LIBOR equal to 0.10125%, with the exception of PPP loans. The SBA reimburses the Company for originating PPP loans and such SBA reimbursements are included as interest income on PPP loans. The 1% interest rate shown for PPP loans is the rate that would be in effect if the PPP loans were not forgiven by the SBA. See NOTE 2—SIGNIFICANT ACCOUNTING POLICIES.
(3) Newtek values non-accrual SBA 7(a) loans using a discounted cash flow analysis of the underlying collateral which supports the loan. Management’s estimate of the net recovery of collateral, (fair value less cost to liquidate) is applied to the discounted cash flow analysis based upon a time to liquidate estimate. Modified loans are valued based upon current payment streams and are re-amortized at the end of the modification period.
(4a) Newtek values guaranteed accrual SBA 7(a) loans using the secondary SBA 7(a) market as a reference point. Newtek routinely sells accrual SBA 7(a) loans into this secondary market. Guaranteed portions of SBA 7(a) loans partially funded as of the valuation date are valued using level two inputs as disclosed in NOTE 6—FAIR VALUE MEASUREMENTS.
(4b) Newtek values guaranteed non-accrual loans based on the estimated recovery under the SBA guarantee, which is at cost.
(5) Controlled Investments are disclosed above as equity investments (except as otherwise noted) in those companies that are “Controlled Investments” of the Company as defined in the Investment Company Act of 1940. A company is deemed to be a “Controlled Investment” of Newtek Business Services Corp. if Newtek Business Services Corp. or its subsidiaries owns more than 25% of the voting securities of such company. See NOTE 4—TRANSACTIONS WITH AFFILIATED COMPANIES AND RELATED PARTY TRANSACTIONS in the accompanying notes to the consolidated financial statements for transactions during the year ended December 31, 2021 with affiliates the Company is deemed to control.
(6) 50% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.), 50% owned by non-affiliate. The term loan was past its original maturity date, was in default and the entity ceased operating. As such, the fair value of the investment is zero. On July 16, 2021, a certificate of dissolution was filed.
(7) 96.11% owned by Wilshire Partners, LLC (a subsidiary of Newtek Business Services Corp.), 3.89% owned by Newtek Business Services Corp.
321
See accompanying notes to consolidated financial statements.


(8) CDS Business Services, Inc. d/b/a Newtek Business Credit Solutions, a wholly-owned portfolio company that is part of the Company’s business finance platform, providing receivables and inventory financing to small and medium size businesses; 50.15% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.) and 49.85% owned by Wilshire Holdings 1, Inc. (a subsidiary of Newtek Business Services Corp.).
(9) PMTWorks Payroll, LLC d/b/a Newtek Payroll and Benefits Solutions (“NPS” or “PMT”), a wholly-owned portfolio company which offers an array of industry standard payroll management, payment and tax reporting services to SMBs; 25% owned by The Whitestone Group, LLC, (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.), 65% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.), and 10% owned by Exponential Business Development Co., Inc. (a subsidiary of Newtek Business Services Corp.).
(10) Newtek Business Lending, LLC (“NBL”), a wholly-owned portfolio company that provides SBA 504 loans and financing to the SMB market for the acquisition of fixed assets and loan origination services to other parts of the Company’s business finance platform; 100% owned by Newtek Business Services Holdco 6, Inc. (a subsidiary of Newtek Business Services Corp.).
(11) Newtek Merchant Solutions, LLC (“NMS”) is a wholly-owned portfolio company that markets credit and debit card processing services, check approval services, processing equipment, and software; 100% owned by NBSH Holdings, LLC (a subsidiary of Newtek Business Services Holdco 1, Inc., a subsidiary of Newtek Business Services Corp.).
(12) Small Business Lending, LLC (“SBL”) is a wholly-owned portfolio company that is part of the Company’s business finance platform;100% owned by Newtek LSP Holdco, LLC (a subsidiary of Wilshire Holdings I, Inc. and Newtek Business Services Holdco 5, Inc., both subsidiaries of Newtek Business Services Corp.). SBL provides third-party loan servicing for SBA and non-SBA loans, and provides lending institutions with outsourced solutions for the entire SBA lending process, including credit analysis, structuring and eligibility, packaging, closing compliance and servicing. In addition, SBL provides loan and servicing solutions to other parts of the Company’s business finance platform.
(13) Newtek Insurance Agency, LLC (“NIA”), a wholly-owned portfolio company which is a retail and wholesale brokerage insurance agency, licensed in all 50 states, specializing in the sale of commercial and health/benefits lines insurance products to the small and medium size business market as well as various personal lines of insurance; 100% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.).
(14) 50% owned by Exponential Business Development Co., Inc. (a subsidiary of Newtek Business Services Corp.), 47.8% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.) and 2.2% owned by Wilshire New York Advisers II, LLC (a subsidiary of Newtek Business Services Corp.).
(15) 100% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.)
(16) 4.67% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.). The initial acquisition date for EMCAP Loan Holdings, LLC was April 25, 2018.
(17) Mobil Money, LLC (“Mobil Money”), a wholly-owned portfolio company that provides payment processing for a merchant portfolio of taxi cabs; 100% owned by Newtek Business Services Holdco 4, Inc. (a subsidiary of Newtek Business Services Corp.).
(18) On May 20, 2019, the Company and its joint venture partner launched Newtek Conventional Lending, LLC (“NCL”) to provide non-conforming conventional commercial and industrial term loans to U.S. middle-market companies and small businesses. NCL is 50% owned by Newtek Commercial Lending, Inc. (a wholly-owned subsidiary of Newtek Business Services Corp.) and 50% owned by Conventional Lending TCP Holding, LLC (a wholly-owned, indirect subsidiary of BlackRock TCP Capital Corp. (NASDAQ:TCPC)). Deemed an investment company under the 1940 Act.
(19) 100% owned by Newtek LSP Holdco, LLC (a subsidiary of Wilshire Holdings I, Inc. and Newtek Business Services Holdco 5, Inc., both subsidiaries of Newtek Business Services Corp.).
(20) 50.13% owned by Newtek Business Services Holdco 3, Inc. (a subsidiary of Newtek Business Services Corp.) and 49.87% owned by multiple non-affiliates.
(21) Zero cost basis is reflected as the portfolio company was organized by the Company and incurred internal legal costs to organize the entity and immaterial external filing fees which were expensed when incurred.
(22) All of the Company’s investments are in entities which are organized under the Laws of the United States and have a principal place of business in the United States.
322
See accompanying notes to consolidated financial statements.


(23) Non-qualifying asset under the Investment Company Act of 1940, as amended. Under the Investment Company Act of 1940, as amended, the Company may not acquire any non-qualifying assets unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets. At December 31, 2021, 7.4% of total assets are non-qualifying assets.
(24) Newtek Technology Solutions, Inc. (“NTS”) is a wholly-owned portfolio company that provides website hosting, dedicated server hosting, cloud hosting, web design and development, internet marketing, ecommerce, data storage, backup and disaster recovery, and other related services; 100% owned by NBSH Holdings, LLC (a subsidiary of Newtek Business Services Holdco 1, Inc., a subsidiary of Newtek Business Services Corp.). International Professional Marketing, Inc. (“IPM”) and Sidco, LLC d/b/a Cloud Nine Services (“SIDCO”) were wholly-owned portfolio companies which consult, strategize, design, and implement technology solutions for enterprise and commercial clients across the U.S. On January 1, 2021, the Company contributed its ownership of IPM and SIDCO to NTS, and IPM and SIDCO became subsidiaries of NTS. In July 2021, IPM merged with and into NTS, with NTS as the surviving entity. The Schedule of Investments shows SIDCO under NTS.

As of December 31, 2021, the federal tax cost of investments was $656.0 million resulting in estimated gross unrealized gains and losses of $173.8 million and $62.7 million, respectively.

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NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1—DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION:

Newtek Business Services Corp. is a Maryland corporation which was formed in August 2013 and is an internally managed, closed end, non-diversified investment company. The Company’s investment strategy is to maximize the investment portfolio’s return by generating current income from the debt investments the Company makes and generate dividend income from equity investments in controlled portfolio companies. On August 2, 2021, the Company entered into the Stock Purchase Agreement with NBNYC and certain NBNYC shareholders to acquire all of the issued and outstanding stock of NBNYC (the “Acquisition”). Subject to certain regulatory approvals (the “Regulatory Approvals”), the Acquisition is part of the Company's plan to reposition itself as a bank holding company that intends to elect financial holding company status. In connection with this plan, on June 1, 2022, at a special meeting of Company shareholders, the Company received its shareholders’ approval to discontinue the Company's election as a business development company, as required under the 1940; however, the Company’s Board will not seek to discontinue the Company’s election as a BDC under the 1940 Act until after the Company receives the required regulatory approvals for the Acquisition and after certain of the Acquisition closing conditions are met. The final decision on the timing of the Company’s discontinuance from regulation as a BDC will be made by the Board based on such factors deemed appropriate by the Board, including the then current status of the Acquisition and discussions with applicable regulatory authorities. After the Company’s discontinuance from regulation as a BDC, the Company will no longer be subject to the regulatory provisions of the 1940 Act applicable to BDCs, will no longer qualify as a RIC, and therefore will be treated differently from both a tax and regulatory perspective. Newtek currently estimates that it will maintain its status as a BDC and RIC in the near term, and therefore expects to maintain its current dividend policy with the objective of making quarterly distributions in an amount that approximates 90 - 100% of the Company's annual taxable income. See "Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations— Executive Summary."

The Company has formed certain Taxable Subsidiaries, which are taxed as corporations for federal income tax purposes. These Taxable Subsidiaries allow the Company to hold equity securities of portfolio companies organized as pass-through entities while continuing to satisfy the requirements of a RIC under the Code.

The following wholly-owned subsidiaries are consolidated in the financial statements of the Company:

Newtek Small Business Finance, LLC
Newtek Asset Backed Securities, LLC
CCC Real Estate Holdings, LLC
The Whitestone Group, LLC
Wilshire DC Partners, LLC
Wilshire Holdings I, Inc.1
Wilshire Louisiana BIDCO, LLC
Wilshire Louisiana Partners II, LLC
Wilshire Louisiana Partners III, LLC
Wilshire Louisiana Partners IV, LLC
Wilshire New York Advisers II, LLC
Wilshire New York Partners III, LLC
Wilshire Partners, LLC
Exponential Business Development Co., Inc.1
Newtek Commercial Lending, Inc.1
Newtek LSP Holdco, LLC
NBSH Holdings, LLC
Newtek Business Services Holdco 1, Inc.1 (surviving entity of January 2021 merger with Newtek Business Services Holdco 2, Inc.)
Newtek Business Services Holdco 3, Inc.1
Newtek Business Services Holdco 4, Inc.1
Newtek Business Services Holdco 5, Inc.1 (formerly Banc-Serv Acquisition, Inc.)
Newtek Business Services Holdco 6, Inc.1
(1) Taxable Subsidiaries
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Except as otherwise noted, all financial information included in the tables in the following footnotes is stated in thousands, except per share data.

The accompanying notes to the unaudited condensed consolidated financial statements should be read in conjunction with Newtek’s Annual Report on Form 10-K for the year ended December 31, 2021, filed on March 1, 2022. The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP and pursuant to the requirements for reporting on Form 10-Q and Article 10 of Regulation S-X and, therefore, omit or condense certain footnotes and other information normally included in financial statements prepared in accordance with U.S. GAAP. In the opinion of management, the condensed consolidated financial statements reflect all adjustments and reclassifications that are necessary for the fair presentation of financial results as of and for the periods presented. The results of operations for an interim period may not give a true indication of the results for the entire year. The December 31, 2021 consolidated statement of assets and liabilities has been derived from the audited financial statements as of that date. All intercompany balances and transactions have been eliminated in consolidation.

NOTE 2—SIGNIFICANT ACCOUNTING POLICIES:
Fair Value

The Company applies fair value accounting to certain of its financial instruments in accordance with ASC Topic 820 — Fair Value Measurement (“ASC Topic 820”). ASC Topic 820 defines fair value, establishes a framework used to measure fair value and requires disclosures for fair value measurements. In accordance with ASC Topic 820, the Company has categorized its financial instruments carried at fair value, based on the priority of the valuation technique, into a three-level fair value hierarchy. Fair value is a market-based measure considered from the perspective of the market participant who holds the financial instrument rather than an entity-specific measure. Therefore, when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that management believes market participants would use in pricing the financial instrument at the measurement date. 

The availability of observable inputs can vary depending on the financial instrument and is affected by a wide variety of factors, including, for example, the type of product, whether the product is new, whether the product is traded on an active exchange or in the secondary market and the current market conditions. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for financial instruments classified as Level 3. 

Any changes to the valuation methodology are reviewed by management and the Board to confirm that the changes are appropriate. As markets change, new products develop and the pricing for products becomes more or less transparent, the Company will continue to refine its valuation methodologies. See further description of fair value methodology in NOTE 6—FAIR VALUE MEASUREMENTS.
Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expense during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are complete. Actual results could differ from those estimates.

Consolidation 

As provided under ASC Topic 946 — Investment Companies, the Company will generally not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company.

Assets related to transactions that do not meet ASC Topic 860 — Transfers and Servicing (“ASC Topic 860”) requirements for accounting sale treatment are reflected in the Company’s consolidated statements of assets and liabilities as investments. Those assets are owned by the securitization trusts and are included in the Company’s consolidated financial statements. The creditors of the special purpose entities have received security interests in such assets and such assets are not intended to be available to the creditors of the Company.

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Although the Company owns more than 25% of the voting securities of NCL, the Company does not have sole control over significant actions of NCL for purposes of the 1940 Act or otherwise, and does not consolidate its interest in NCL.

Distributions

Dividends and distributions to the Company's common stockholders are recorded on the declaration date. The timing and amount to be paid out as a dividend or distribution is determined by the Company's Board each quarter and is generally based upon the annual taxable earnings estimated by management.
 
Cash

The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Invested cash is held exclusively at financial institutions of high credit quality. As of June 30, 2022, cash deposits in excess of insured amounts totaled $39.1 million. The Company has not experienced any losses with respect to cash balances in excess of insured amounts and management does not believe there was a significant concentration of risk with respect to cash balances as of June 30, 2022.
Restricted Cash

Restricted cash includes amounts due on SBA loan-related remittances to third parties, cash reserves established as part of a voluntary agreement with the SBA, cash reserves associated with securitization transactions, and cash margin as collateral for derivative instruments. As of June 30, 2022, total restricted cash was $121.9 million.

The following table provides a reconciliation of cash and restricted cash as of June 30, 2022 and 2021 and December 31, 2021 and 2020:
June 30, 2022June 30, 2021December 31, 2021December 31, 2020
Cash$4,165 18,798 2,397 $2,073 
Restricted cash121,861 129,765 184,463 49,352 
Cash and restricted cash$126,026 $148,563 $186,860 $51,425 

Broker Receivable

Broker receivable represents amounts due from third parties for loans which have been traded at period end but have not yet settled.
Transfers of Financial Assets
For a transfer of financial assets to be considered a sale, the transfer must meet the sale criteria of ASC 860, which, at the time of the transfer, require that the transferred assets qualify as recognized financial assets and the Company surrender control over the assets. Such surrender requires that the assets be isolated from the Company, even in bankruptcy or other receivership, the purchaser have the right to pledge or sell the assets transferred and the Company not have an option or obligation to reacquire the assets. If the sale criteria are not met, the transfer is considered to be a secured borrowing, the assets remain on the Company’s consolidated balance sheets and the sale proceeds are recognized as a liability.
Since 2010, NSBF has engaged in securitizations of the unguaranteed portions of its SBA 7(a) loans. A securitization uses a special purpose entity (the “Trust”), which is considered a variable interest entity. Applying the consolidation requirements for VIEs under the accounting rules in ASC Topic 860, Transfers and Servicing, and ASC Topic 810, Consolidation, which became effective January 1, 2010, the Company determined that as the primary beneficiary of the securitization vehicle, based on its power to direct activities through its role as servicer for the Trust and its obligation to absorb losses and right to receive benefits, it needed to consolidate the Trusts. The Company therefore consolidates the entities using the carrying amounts of the Trust’s assets and liabilities and reflects the assets in SBA Unguaranteed Non-Affiliate Investments and reflects the associated financing in Notes Payable - Securitization trusts on the Consolidated Statements of Assets and Liabilities.
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Servicing Assets
The Company accounts for servicing assets in accordance with ASC Topic 860-50 - Transfers and Servicing - Servicing Assets and Liabilities. Servicing assets are measured at fair value at each reporting date and the Company reports changes in the fair value of servicing assets in earnings in the period in which the changes occur. The Company earns servicing fees from the guaranteed portions of SBA 7(a) loans it originates and sells. The valuation model for servicing assets incorporates assumptions including, but not limited to, servicing costs, discount rate, prepayment rate, and default rate. Considerable judgement is required to estimate the fair value of servicing assets and as such these assets are classified as Level 3 in our fair value hierarchy.
Due to Participants
Due to participants represents amounts due to third party investors in the SBA guaranteed portion of SBA 7(a) and PPP loans. When the Company receives principal payments, including PPP loan forgiveness, after the loan has been either partially or fully sold to the participant, the remittances received by the Company are either owed in part of in full to the participant and amounts are recorded as a liability on the consolidated statements of assets and liabilities.
Derivative Instruments
The Company uses derivative instruments primarily to economically manage the fair value variability of fixed rate assets caused by interest rate fluctuations. Derivative instruments consist of interest rate futures and are held at fair value on the balance sheet. Collateral posted with our futures counterparties is segregated in the Company’s books and records. Interest rate futures are centrally cleared by the Chicago Mercantile Exchange (“CME”) through a futures commission merchant. Interest rate futures that are governed by an ISDA agreement provide for bilateral collateral pledging based on the counterparties’ market value. The counterparties have the right to re-pledge the collateral posted but have the obligation to return the pledged collateral, or, if the Company agrees, substantially the same collateral as the market value of the interest rate futures change.
The Company is required to post initial margin and daily variation margin for interest rate futures that are centrally cleared by CME. CME determines the fair value of our centrally cleared futures, including daily variation margin. Effective January 3, 2017, CME amended its rulebooks to legally characterize daily variation margin payments for centrally cleared interest rate futures as settlement rather than collateral. As a result of this rule change, variation margin pledged on the Company’s centrally cleared interest rate futures is settled against the realized results of these futures.
Income Taxes

Deferred tax assets and liabilities are computed based upon the differences between the financial statement and income tax basis of assets and liabilities using the enacted tax rates in effect for the year in which those temporary differences are expected to be realized or settled. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized.

The Company’s U.S. federal and state income tax returns prior to fiscal year 2018 are generally closed, and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings.

The Company has elected to be treated as a RIC under the Code beginning with the 2015 tax year and operates in a manner so as to continue to qualify for the tax treatment applicable to RICs. The RIC tax return includes Newtek Business Services Corp. and NSBF, a single member LLC disregarded for tax purposes. None of the Company’s other subsidiaries are included in the RIC tax return. The Company will evaluate and record any deferred tax assets and liabilities of the subsidiaries that are not included in the RIC tax return. In order to maintain its RIC tax treatment, among other things, the Company is required to meet certain source of income and asset diversification requirements and timely distribute to its stockholders at least 90% of investment company taxable income, as defined by the Code, for each tax year. The Company intends to make the requisite distributions to its stockholders, which will generally relieve the Company from U.S. federal income taxes with respect to any income that is distributed to its stockholders as dividends. If the Company obtains the required Regulatory Approvals and subsequently discontinues its election to be treated as a BDC and converts to a bank holding company, the Company will no longer be subject to the 1940 Act, and the Company would lose its ability to be taxed on a pass-through basis as a RIC. For information on the risks of converting to a bank holding company, see “Item 1A. Risk Factors – Risk Related to Converting to a Bank Holding Company.”

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Depending on the level of taxable income earned in a tax year, the Company may choose to retain taxable income in excess of current year dividend distributions and would distribute such taxable income in the next tax year. The Company would then pay a 4% excise tax on such income, as required. To the extent that the Company determines that its estimated current year annual taxable income, determined on a calendar year basis, could exceed estimated current calendar year dividend distributions, the Company accrues excise tax, if any, on estimated excess taxable income as taxable income is earned. For the six months ended June 30, 2022 and 2021, no U.S. federal excise taxes were due.

The Company’s Taxable Subsidiaries accrue income taxes payable based on the applicable corporate rates on the net unrealized appreciation generated by the controlled investments held by the Taxable Subsidiaries. Such deferred tax liabilities amounted to $12.8 million and $12.7 million at June 30, 2022 and December 31, 2021, respectively, and are recorded as deferred tax liabilities on the consolidated statements of assets and liabilities. The change in deferred tax liabilities is included as a component of net unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

Stock Repurchase Program

On June 21, 2022, the Company's Board of Directors approved a repurchase program under which the Company may repurchase up to 500,000 shares of the Company’s common stock, par value $0.02 per share, through open market purchases, including block purchases, in such manner as will comply with the provisions of the Investment Company Act of 1940 and the Securities Exchange Act of 1934, as amended. Unless extended or terminated by the Company's board of directors, the Company expects the termination date for the repurchase program will be on December 21, 2022. The Company has not repurchased any common shares under the repurchase program during the six months ended June 30, 2022.

Investment Income

Management reviews all loans that become 90 days or more past due on principal or interest or when there is reasonable doubt that principal or interest will be collected for possible placement on management’s designation of non-accrual status. Interest receivable is analyzed regularly and may be reserved against when deemed uncollectible. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest is paid and, in management’s judgment, are likely to remain current, although we may make exceptions to this general rule if the loan has sufficient collateral value and is in the process of collection.

On March 27, 2020, Congress passed, and the President of the United States signed into law, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The CARES Act provided an over $2.0 trillion stimulus package to certain businesses and individuals affected by the COVID-19 pandemic, with subsidies to certain existing SBA 7(a) borrowers in which the SBA paid all principal, interest, and fees on existing performing SBA 7(a) loans for six months beginning with such borrowers’ April 2020 payments. Among other things, the CARES Act allowed NSBF, as an SBA 7(a) lender, to originate loans under the Paycheck Protection Program (“PPP”) as an expansion of the existing SBA Section 7(a) loan program through June 30, 2020, which PPP was extended through May 31, 2021, with PPP lenders allowed to continue to close PPP loans approved by the SBA prior to May 31, 2021. Pursuant to the PPP, the SBA reimbursed NSBF for originating PPP loans and such SBA reimbursements are included as interest income on PPP loans. Such fees were accounted for under ASC-310 Receivables and deferred until the PPP loan participations were sold to one of the banks which had entered into PPP loan participation agreements with NSBF. Refer to NOTE 3—INVESTMENTS. Income earned in connection with the PPP should not be viewed as recurring. NSBF funded the balance of its PPP loans by the end of July 2021. NSBF has redeployed resources to funding SBA 7(a) loans.

Dividend income is recognized on an accrual basis for preferred equity securities to the extent that such amounts are expected to be collected or realized. In determining the amount of dividend income to recognize, if any, from cash distributions on common equity securities, we will assess many factors including a portfolio company’s cumulative undistributed income and operating cash flow. Cash distributions from common equity securities received in excess of such undistributed amounts are recorded first as a reduction of our investment and then as a realized gain on investment.

The Company earns servicing income related to the guaranteed portions of SBA loan investments which it sells into the secondary market. These recurring fees are earned and recorded daily. Servicing income is earned for the full term of the loan or until the loan is repaid.

The Company earns a variety of fees from borrowers in the ordinary course of conducting its business, including packaging, legal, late payment and prepayment fees. All other income is recorded when earned. Other income is generally non-recurring in nature and earned as “one time” fees in connection with the origination of new debt investments with non-affiliates.
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Investment transactions are accounted for on a trade-date basis. Realized gains or losses on investments are measured by the difference between the net proceeds from the disposition and the cost basis of investment, without regard to unrealized gains or losses previously recognized. The Company reports current period changes in the fair value of investments as a component of the net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

Stock – Based Compensation

The Company accounts for its equity-based compensation plan using the fair value method, as prescribed by ASC Topic 718 Stock Compensation. Accordingly, for restricted stock awards, the Company measures the grant date fair value based upon the market price of the Company’s common stock on the date of the grant and amortizes this fair value to salaries and benefits ratably over the requisite service period or vesting term.

Recently Adopted Accounting Pronouncements

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,(“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts and transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU No. 2021-01, “Reference Rate Reform (Topic 848),” which expanded the scope of Topic 848 to include derivative instruments impacted by discounting transition. ASU 2020-04 and ASU 2021-01 are effective as of March 12, 2020 through December 31, 2022. ASU No. 2021-01 provides increased clarity as the Company continues to evaluate the transition of reference rates, however, the impact of the adoption is not expected to be material. The adoption of ASU 2020-04 did not have a material impact on the Company’s consolidated financial statements.

New Accounting Standards

In June 2022, the FASB issued ASU No. 2022-03, “Fair Value Measurement (Topic 820),” which clarifies the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit
the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The amendments affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction. ASU 2022-03 is effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. For all other entities the amendments are effective for fiscal years beginning after December 15, 2024, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. An entity that qualifies as an investment company under Topic 946 should apply the amendments in ASU No. 2022-03 to an investment in an equity security subject to a contractual sale restriction that is executed or modified on or after the date of adoption. The Company is currently evaluating the impact of adopting ASU No. 2022-03 on the consolidated financial statements.

In November 2020, the SEC published Release No. IC-34084 Use of Derivatives by Registered Investment Companies and Business Development Companies and adopted rules amending Rule 18f-4 and Rule 6c-11. Under the newly adopted rules, BDCs that use derivatives will be subject to a value-at-risk leverage limit, a derivatives risk management program and testing requirements and requirements related to board reporting. These new requirements will apply unless the BDC qualifies as a “limited derivatives user,” as defined under the adopted rules. Under the new rule, a BDC may enter into an unfunded commitment agreement that is not a derivatives transaction, such as an agreement to provide financing to a portfolio company, if the BDC has, among other things, a reasonable belief, at the time it enters into such an agreement, that it will have sufficient cash and cash equivalents to meet its obligations with respect to all of its unfunded commitment agreements, in each case as it becomes due. Compliance is required by August 19, 2022. The Company does not expect the adoption to have a material impact on its consolidated financial statements.

Segments

The Company has determined that it has a single reporting segment and operating unit structure. The Company issues debt and makes equity investments in portfolio companies in various industries. The Company separately evaluates the performance of each of its lending and investment relationships. However, because each of these debt and equity investment relationships have similar business and economic characteristics, they have been aggregated into a single lending and investment segment.

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Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

NOTE 3—INVESTMENTS:

Investments, all of which are in portfolio companies in the United States, consisted of the following at:
June 30, 2022December 31, 2021
CostFair ValueCostFair Value
Non-affiliate debt investments$496,994 $488,173 $497,698 $497,387 
Non-control investments:
Equity1,000 1,000 1,000 1,000 
Controlled investments:
Equity111,567 228,506 93,717 208,106 
Equity interest in NCL (Joint Venture)17,162 17,390 26,903 29,464 
Debt36,544 22,028 36,669 22,828 
Total investments$663,267 $757,097 $655,987 $758,785 

SBA unguaranteed investments consisted of the following breakdown of accrual and non-accrual loans at:
June 30, 2022December 31, 2021
CostFair ValueCostFair Value
Accrual$419,825 $434,538 $377,845 $393,910 
Non-Accrual50,574 25,443 54,126 30,507 
Total SBA unguaranteed investments$470,399 $459,981 $431,971 $424,417 

SBA guaranteed investments consisted of the following breakdown of accrual and non-accrual loans at:
June 30, 2022December 31, 2021
CostFair ValueCostFair Value
Accrual$21,375 $22,972 $61,474 $68,716 
Non-Accrual5,220 5,220 4,254 4,254 
Total SBA guaranteed investments$26,595 $28,192 $65,728 $72,970 

Beginning in March 2020, as a result of the uncertain economic impact to U.S. small businesses at the onset of the COVID-19 pandemic, the Company’s Executive Committee and Lending Team temporarily shifted the focus of NSBF from originating SBA 7(a) loans to originating PPP loans. During the duration of the PPP through the end of July 2021, NSBF funded approximately 26,200 PPP loans totaling $1.9 billion. Beginning in July 2021, NSBF redeployed resources to funding SBA 7(a) loans.

To facilitate NSBF’s involvement as an authorized lender in the PPP, during the second quarter of 2020, NSBF entered into PPP loan participation agreements where NSBF originated PPP loans and sold 90% participating interests to UBS Bank USA (“UBS”), Stifel Bank (“Stifel”), Morgan Stanley Bank, N.A. (“Morgan Stanley”), and Amalgamated Bank (“Amalgamated”), collectively the “Participants.” The participation interests were sold at par due to the short term maturity of the loans. NSBF and the Participants share proportionally in all interest and principal payments made on the loans. Subsequently, UBS, Stifel, and Amalgamated amended their agreements with NSBF to allow the banks to purchase 100% participation interests in certain of the PPP loans originated by NSBF. In connection with the amendments, UBS, Stifel, and Amalgamated purchased the remaining 10% participation interests in their participation loans, bringing their participation interests to 100%, while Morgan Stanley continues to hold 90% participation interests as of June 30, 2022. NSBF continues to hold the PPP loan notes and the PPP loan documents for PPP loans yet to be forgiven by the SBA, in order to service the loans and facilitate the PPP loan forgiveness process. The servicing liability in connection with the PPP loans was deemed immaterial. PPP loan origination fees was recognized as interest income on sale of PPP loan participations. Income earned in connection with the PPP should not be viewed as recurring. NSBF funded the balance of its PPP loans by the end of July 2021. NSBF has redeployed resources to funding SBA 7(a) loans.

In accordance with the terms of the PPP participation agreements and SBA regulations and guidance, NSBF, as the originating
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lender, must continue to hold the PPP loan notes, the PPP loan documents and service the PPP loans (i.e., retain all servicing rights). Moreover, as the originating lender, NSBF is the party responsible to the SBA with respect to all servicing actions, including requests for advance purchases and loan forgiveness, and will be the party eligible for the guarantee purchase of the PPP loan. In the event of a loss resulting from a default on a PPP loan and a determination by the SBA that there was a deficiency in the manner in which the PPP loan was originated, funded, or serviced by NSBF, the SBA may deny its liability under the guaranty, reduce the amount of the guaranty, or, if it has already paid under the guaranty, seek recovery of any loss related to the deficiency. NSBF has agreed that it will repurchase from the Participants on demand the Participants’ Percentage of any outstanding principal and interest under the applicable PPP Loan under certain standard representations and warranties, including in the event of a loss due to fraud, gross negligence or willful misconduct on the part of NSBF or any failure to recover under the SBA guarantee as a result of any deficiency in documenting or servicing such PPP Loan by NSBF.

The following table shows the Company’s SBA guaranteed accrual loans by SBA loan type at:

June 30, 2022December 31, 2021
CostFair ValueCostFair Value
7(a)$21,300 $22,897 $60,610 $67,852 
PPP75 75 864 864 
Accrual SBA guaranteed investments$21,375 $22,972 $61,474 $68,716 

The following table shows the Company’s portfolio investments by industry at:

June 30, 2022December 31, 2021
CostFair ValueCostFair Value
Data Processing, Hosting, and Related Services$59,806 $168,597 $59,552 $169,043 
Securities, Commodity Contracts, and Other Financial Investments and Related Activities87,087 79,853 69,473 60,553 
Food Services and Drinking Places45,199 46,766 48,782 51,840 
Professional, Scientific, and Technical Services32,128 31,853 27,374 27,213 
Specialty Trade Contractors32,354 30,472 25,250 24,745 
Amusement, Gambling, and Recreation Industries27,172 27,426 28,806 29,578 
Ambulatory Health Care Services25,258 24,107 23,078 21,483 
Truck Transportation24,100 21,569 24,929 21,937 
Administrative and Support Services21,085 20,126 25,320 25,036 
Repair and Maintenance18,683 19,151 18,301 18,752 
Merchant Wholesalers, Durable Goods18,214 18,300 14,725 15,107 
Merchant Wholesalers, Nondurable Goods14,317 13,776 12,649 12,115 
Fabricated Metal Product Manufacturing12,409 12,950 15,138 16,104 
Personal and Laundry Services11,690 12,336 11,218 11,935 
Social Assistance9,490 10,429 12,967 14,401 
Accommodation10,712 9,663 13,795 13,529 
Rental and Leasing Services8,829 9,169 8,529 8,505 
Motor Vehicle and Parts Dealers8,641 8,605 12,760 11,427 
Construction of Buildings9,327 8,577 6,404 5,909 
Support Activities for Mining9,403 8,570 7,102 6,496 
Educational Services7,642 8,118 7,511 8,107 
Nonstore Retailers8,275 8,105 7,364 7,308 
Building Material and Garden Equipment and Supplies Dealers7,394 7,658 6,504 6,845 
Food Manufacturing9,340 7,649 12,760 11,427 
NCL (Joint Venture)17,162 17,390 26,903 29,464 
Other127,550 125,882 128,793 129,927 
Total$663,267 $757,097 $655,987 $758,786 

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Newtek Conventional Lending, LLC

On May 20, 2019, the Company and its joint venture partner launched Newtek Conventional Lending, LLC (“NCL”) to provide non-conforming conventional commercial and industrial term loans to U.S. middle-market companies and small businesses. NCL is a 50/50 joint venture between Newtek Commercial Lending, Inc. a wholly-owned subsidiary of Newtek, and Conventional Lending TCP Holding, LLC, a wholly-owned, indirect subsidiary of BlackRock TCP Capital Corp. (Nasdaq:TCPC). NCL ceased funding new non-conventional conforming loans during 2020 due to the COVID-19 pandemic. On January 28, 2022, NCL closed a conventional commercial loan securitization with the sale of $56.3 million of Class A Notes, NCL Business Loan Trust 2022-1, Business Loan-Backed Notes, Series 2022-1, secured by a segregated asset pool consisting primarily of conventional commercial business loans, including loans secured by liens on commercial or residential mortgaged properties, originated by NCL and NBL. The Notes were rated “A” (sf) by DBRS Morningstar. The Notes were priced at a yield of 3.209%. The proceeds of the securitization were used, in part, to repay the Deutsche Bank credit facility and return capital to the JV partners. The Company anticipates relaunching its non-conforming conventional commercial loan program through new joint venture partnerships.

The following table shows NCL’s individual investments as of June 30, 2022:

Portfolio CompanyIndustryInvestment TypeInterest RateMaturityPrincipalCost
Fair Value1
10 28th Ave SW Associates LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%4/1/2045$2,203 $2,159 $2,134 
10 28th Ave SW Associates LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%4/1/20451,240 1,212 1,201 
Cocoa Beach Office LLCOther Activities Related to Credit IntermediationTerm Loan2 Yr Libor plus 5.70%8/1/2044418 404 425 
Foxhall Hospitality, LLCHotels (except Casino Hotels) and MotelsTerm Loan5 Yr Libor plus 6.00%11/1/204410,241 10,037 10,233 
Foxhall Hospitality, LLCHotels (except Casino Hotels) and MotelsTerm Loan5 Yr Libor plus 6.00%11/1/20445,990 5,871 5,985 
The Camera Division, LLCCommercial & Industrial Machinery & EquipmentTerm Loan5 Yr Libor plus 7.25%9/1/202910,675 10,370 10,858 
The Emerald Green Group, LLCFull-Service RestaurantTerm Loan2 Yr Libor plus 5.65%8/1/20295,182 5,023 4,910 
XL Soccer World Orlando II LLCFitness and Recreational Sport CentersTerm LoanPrime plus 3.25%11/1/20454,916 4,767 4,902 
XL Sports World NJ LLC and XL Soccer World Orlando LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%8/1/20445,239 5,088 5,214 
XL Sports World NJ LLC and XL Soccer World Orlando LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%8/1/20444,649 4,533 4,591 
Tricare Unlimited LLC and Geron Enterprises LLCNursing Care Facilities(Skilled Nursing Facilities)Term Loan2 Yr Treasury plus 6.51%1/1/20455,572 5,419 5,662 
E Entities LLCExterminating & Pest Control ServicesTerm Loan5 Yr Treasury plus 7.71%1/1/20305,023 4,897 5,164 
Trinity MCC Realty, LLCMotor Vehicle and Parts Dealers Term Loan5 Yr Treasury plus 6.58%2/1/20455,040 4,899 4,881 
Jaffe Real Estate LLCFull-Service RestaurantTerm Loan5 Yr Treasury plus 7.93%4/1/20452,214 2,153 2,358 
ARC Metal Stamping, LLCIndustrial Mold ManufacturingTerm Loan5 Yr Treasury plus 7.43%1/1/20455,352 5,352 5,438 
McNeill Properties V, LLCFitness and Recreational Sport CentersTerm Loan5 Yr Treasury plus 8.00%9/1/204610,234 10,234 10,707 
Total$84,188 $82,418 $84,663 
(1) Fair value determined using significant unobservable inputs.

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The following table shows NCL’s individual investments as of December 31, 2021:
Portfolio CompanyIndustryInvestment TypeInterest RateMaturityPrincipalCost
Fair Value1
10 28th Ave SW Associates LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%4/1/2045$2,225 $2,181 $2,117 
10 28th Ave SW Associates LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%4/1/20451,253 1,225 1,192 
Cocoa Beach Office LLCOther Activities Related to Credit IntermediationTerm Loan2 Yr Libor plus 5.70%8/1/2044422 407 415 
Foxhall Hospitality, LLCHotels (except Casino Hotels) and MotelsTerm Loan5 Yr Libor plus 6.00%11/1/204410,321 10,115 10,447 
Foxhall Hospitality, LLCHotels (except Casino Hotels) and MotelsTerm Loan5 Yr Libor plus 6.00%11/1/20446,037 5,917 6,110 
The Camera Division, LLCCommercial & Industrial Machinery & EquipmentTerm Loan5 Yr Libor plus 7.25%9/1/202911,050 10,734 11,203 
The Emerald Green Group, LLCFull-Service RestaurantTerm Loan2 Yr Libor plus 5.65%8/1/20295,510 5,344 5,173 
XL Soccer World Orlando II LLCFitness and Recreational Sport CentersTerm LoanPrime plus 3.25%11/1/20454,986 4,836 4,907 
XL Sports World NJ LLC and XL Soccer World Orlando LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%8/1/20446,094 5,943 6,241 
XL Sports World NJ LLC and XL Soccer World Orlando LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%8/1/20444,686 4,570 4,738 
Tricare Unlimited LLC and Geron Enterprises LLCNursing Care Facilities(Skilled Nursing Facilities)Term Loan2 Yr Treasury plus 6.51%1/1/20455,617 5,463 5,838 
E Entities LLCExterminating & Pest Control ServicesTerm Loan5 Yr Treasury plus 7.71%1/1/20305,244 5,113 5,526 
Trinity MCC Realty, LLCMotor Vehicle and Parts DealersTerm Loan5 Yr Treasury plus 6.58%2/1/20455,092 4,950 5,260 
Jaffe Real Estate LLCFull-Service RestaurantTerm Loan5 Yr Treasury plus 7.93%4/1/20452,228 2,167 2,453 
Berry Ventures IncPainting & Wall Covering ContractorsTerm Loan5 Yr Treasury plus 7.25%4/1/2045212 199 225 
ARC Metal Stamping, LLCIndustrial Mold ManufacturingTerm Loan5 Yr Treasury plus 7.43%1/1/20455,383 5,383 5,809 
McNeill Properties V, LLCFitness and Recreational Sport CentersTerm Loan5 Yr Treasury plus 8.00%9/1/204610,277 10,277 11,472 
Total$86,637 $84,824 $89,126 
(1) Fair value determined using significant unobservable inputs.

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The following tables show certain summarized financial information for NCL:
Selected Statement of Assets and Liabilities InformationJune 30, 2022December 31, 2021
(Unaudited)
Cash$1,478 $1,845 
Restricted cash1,408 — 
Investments in loans, at fair value (amortized cost of $82,418 and $84,824, respectively)84,663 89,126 
Other assets1,874 595 
Total assets$89,423 $91,566 
Bank notes payable$— $32,341 
Securitization notes payable53,521 — 
Other liabilities1,122 297 
Total liabilities54,643 32,638 
Net assets34,780 58,928 
Total liabilities and net assets$89,423 $91,566 
Selected Statements of Operations InformationThree Months Ended June 30,Six Months Ended June 30,
2022202120222021
Interest and other income$1,753 $1,486 $3,514 $3,056 
Total expenses745 611 1,486 1,264 
Net investment income1,008 875 2,028 1,792 
Unrealized depreciation on investments(37)(27)(2,046)(429)
Net increase (decrease) in net assets resulting from operations$971 $848 $(18)$1,363 

NOTE 4—TRANSACTIONS WITH AFFILIATED COMPANIES AND RELATED PARTY TRANSACTIONS:

Transactions with Affiliated Companies

An affiliated company is an entity in which the Company has an ownership of 5% or more of its voting securities. A controlled affiliate is an entity in which the Company owns more than 25% of its voting securities. Transactions related to our investments with controlled and non-controlled affiliated companies for the six months ended June 30, 2022 were as follows:
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Portfolio CompanyFair Value at December 31, 2021Purchases (Cost)Principal ReceivedNet Realized Gains/(Losses)Net Unrealized Gains/(Losses)Fair Value at June 30, 2022Interest and Other IncomeDividend Income
Controlled Investments
Newtek Merchant Solutions, LLC$114,500 $— $— $— $(1,000)$113,500 $— $7,600 
Mobil Money, LLC3,900 — — — 3,100 7,000 — 150 
Newtek Technology Solutions, Inc.47,225 400 (225)— (3,400)44,000 555 1,500 
CDS Business Services, Inc.7,300 1,900 (1,600)— (1,058)6,542 554 — 
Small Business Lending, LLC4,400 3,565 — — (1,265)6,700 20 — 
Newtek Insurance Agency, LLC2,300 — — — 1,200 3,500 — — 
PMTWorks Payroll, LLC2,000 85 — — 600 2,685 140 — 
Titanium Asset Management LLC603 — (200)— (302)101 — — 
POS on Cloud, LLC1,300 — — — — 1,300 65 — 
Newtek Conventional Lending, LLC29,464 — (9,741)— (2,333)17,390 — 1,659 
Newtek Business Lending, LLC47,406 13,800 — — 4,000 65,206 — 1,875 
Total Controlled Investments$260,398 $19,750 $(11,766)$— $(458)$267,924 $1,334 $12,784 
Non-Control Investments
EMCAP Loan Holdings, LLC$1,000 $— $— $— $— $1,000 $— $43 
Total Affiliate Investments$261,398 $19,750 $(11,766)$— $(458)$268,924 $1,334 $12,827 

Related Party Transactions

Notes Payable - Related Parties

In June 2015, the Company entered into the Related Party RLOC. Maximum borrowings under the Related Party RLOC were $38.0 million. In June 2017, the Related Party RLOC was amended to increase maximum borrowings to $50.0 million. The outstanding balance had an interest rate equal to 1 month LIBOR (with a floor of 0.50%) plus 6.0% or a rate equal to the greater of the Prime Rate or 3.5% plus 5.0%. In November 2018, the Related Party RLOC was amended to reduce the interest rate to the lesser of 1 month LIBOR plus 2.5% or the Prime Rate plus 1.5%.

At June 30, 2022, the Related Party RLOC interest rate was 2.85%. The Related Party RLOC has a maturity date of November 8, 2023. There was $0.2 million in outstanding borrowings from NMS at June 30, 2022 under the Related Party RLOC.

For the three months ended June 30, 2022 and 2021, interest expense was $0.1 million and $0.1 million respectively.

For the six months ended June 30, 2022 and 2021, interest expense was $0.2 million and $0.2 million, respectively.

Expenses Incurred from Controlled Portfolio Companies

The Company incurs expenses from certain controlled portfolio companies including managed technology services from NTS, origination and loan processing fees from various related parties and payroll processing fees from PMT.
Three Months EndedSix Months Ended
June 30, 2022June 30, 2021June 30, 2022June 30, 2021
Managed technology services$509 $484 $1,042 $943 
Origination and loan processing3,495 4,518 6,257 7,669 
Loan servicing— 14 — 27 
Payroll processing fees15 17 
Total$4,011 $5,024 $7,314 $8,656 

The Company also sub-leases portions of its office space in Lake Success, New York to certain portfolio companies. Amounts charged were as follows:
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Three Months EndedSix Months Ended
Portfolio CompanyJune 30, 2022June 30, 2021June 30, 2022June 30, 2021
Newtek Merchant Solutions, LLC$75 $62 $151 $124 
Newtek Technology Solutions, Inc.
Small Business Lending, LLC90 81 191 150 
Newtek Insurance Agency, LLC12 17 31 35 
CDS Business Services, Inc.15 19 37 38 
PMTWorks Payroll, LLC11 
Newtek Business Lending, LLC
Total$199 $187 $424 $367 

Amounts due from related parties were $0.8 million and $4.4 million at June 30, 2022 and December 31, 2021, respectively. Amounts due to related parties were $0.9 million and $1.5 million at June 30, 2022 and December 31, 2021, respectively.

Managerial Assistance Fees from Controlled Investments

The Company offers managerial assistance to all portfolio companies and currently provides managerial assistance to certain controlled portfolio companies. Fees are recorded on a quarterly basis, are recurring in nature, and are charged consistently based on estimates of time and effort spent by certain employees providing managerial services. The table below summarizes amounts charged to each controlled portfolio company, and are recorded as a credit to salaries and benefits in the consolidated statements of operations.

Three Months EndedSix Months Ended
Portfolio CompanyJune 30, 2022June 30, 2021June 30, 2022June 30, 2021
Newtek Merchant Solutions, LLC$118 $119 $237 $232 
Newtek Technology Solutions, Inc. (NTS)103 127 206 251 
PMTWorks Payroll, LLC27 21 49 41 
Newtek Insurance Agency, LLC38 32 70 63 
Newtek Conventional Lending, LLC— — 
CDS Business Services, Inc.78 42 147 84 
Mobil Money, LLC21 29 43 58 
Newtek Business Lending, LLC51 37 105 75 
Small Business Lending, LLC135 127 280 253 
Total$574 $534 $1,146 $1,057 

NOTE 5—SERVICING ASSETS:
Servicing assets are measured at fair value. The Company earns servicing fees from the guaranteed portions of SBA 7(a) loans it originates and sells.
The following tables summarizes the fair value and valuation assumptions related to servicing assets at June 30, 2022 and December 31, 2021:
Servicing AssetsWeightedRange
DateFair ValueUnobservable InputAverageMinimumMaximum
June 30, 2022$31,820 
Discount factor1
12.60 %12.60 %12.60 %
Cumulative prepayment rate25.00 %25.00 %25.00 %
Average cumulative default rate25.00 %25.00 %25.00 %
December 31, 2021$28,008 
Discount factor1
12.60 %12.60 %12.60 %
Cumulative prepayment rate25.00 %25.00 %25.00 %
Average cumulative default rate25.00 %25.00 %25.00 %
(1) Determined based on risk spreads and observable secondary market transactions.
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Servicing fee income earned for the three months ended June 30, 2022 and 2021 was $3.2 million and $2.8 million, respectively. Servicing fee income earned for the six months ended June 30, 2022 and 2021 was $6.4 million and $5.5 million, respectively.

NOTE 6—FAIR VALUE MEASUREMENTS:

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, management uses various valuation approaches, all of which have been approved by the Company’s Board. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.
The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets for identical assets or liabilities and gives the lowest priority to unobservable inputs (Level 3). The levels of the fair value hierarchy are as follows:

Level 1Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as certain U.S. Treasury, other U.S. Government and agency mortgage-backed debt securities that are highly liquid and are actively traded in over-the-counter markets.

Level 2Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes certain U.S. Government and agency mortgage-backed debt securities, corporate debt securities, derivative contracts and residential mortgage loans held-for-sale.

Level 3Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category generally includes certain private equity investments, retained residual interests in securitizations, residential mortgage servicing rights, and highly structured or long-term derivative contracts.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset or a liability’s categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The Company assesses the levels of assets and liabilities at each measurement date. There were no transfers to or from Level 3 of the fair value hierarchy for assets and liabilities during the six months ended June 30, 2022 or 2021.
Level 1 investments are valued using quoted market prices. Level 2 investments are valued using market consensus prices that are corroborated by observable market data and quoted market prices for similar assets and liabilities.

For certain investments, the Company generally calculates the fair value of the investment primarily based on the net asset NAV of the entity and adjusts the fair value for other factors that would affect the fair value of the investment. The Company uses this valuation approach for its investment in NCL.

Due to the inherent uncertainty of determining the fair value of Level 3 investments that do not have a readily available market value, the fair value of the investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be received or settled. Further, such investments are generally subject to legal and other restrictions or otherwise are less liquid than publicly traded instruments. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, the Company may realize significantly less than the value at which such investment had previously been recorded. 

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The Company’s investments are subject to market risk. Market risk is the potential for changes in the value due to market changes. Market risk is directly impacted by the volatility and liquidity in the markets in which the investments are traded. In addition, the ongoing COVID-19 pandemic, recent changes in inflation and base interest rates, supply chain disruptions, significant market volatility and the ongoing conflict between Russia and Ukraine could further negatively impact the fair value of the Company’s investments after June 30, 2022, in addition to other circumstances and events that are not yet known.

In December 2020, Rule 2a-5 under the 1940 Act was adopted by the SEC and establishes requirements for determining fair value in good faith for purposes of the 1940 Act. We are evaluating the impact of adopting Rule 2a-5 on the consolidated financial statements and intend to comply with the new rule's requirements on or before the compliance date in September 2022.

The following tables present fair value measurements of the Company’s assets and liabilities measured at fair value and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values as of June 30, 2022 and December 31, 2021:
 Fair Value Measurements at June 30, 2022
TotalLevel 1Level 2Level 3
Assets:
SBA unguaranteed non-affiliate investments$459,981 $— $— $459,981 
SBA guaranteed non-affiliate investments28,192 — 28,192 — 
Controlled investments250,534 — — 250,534 
Other real estate owned1
1,718 — — 1,718 
Non-control investments1,000 — — 1,000 
Servicing assets31,820 — — 31,820 
Controlled investments measured at NAV2
17,390 — — — 
Total assets$790,635 $— $28,192 $745,053 
(1) Included in Other Assets on the Consolidated Statements of Assets and Liabilities.
(2) The Company’s investment in NCL is measured at fair value using NAV and has not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Assets and Liabilities.

The change in unrealized appreciation (depreciation) included in the consolidated statements of operations attributable to Level 3 investments held at June 30, 2022 includes $2.9 million in unrealized depreciation on SBA unguaranteed non-affiliate investments, $1.9 million in unrealized appreciation on controlled investments and $2.3 million in unrealized depreciation on servicing assets.
 Fair Value Measurements at December 31, 2021
TotalLevel 1Level 2Level 3
Assets:
SBA unguaranteed non-affiliate investments$424,417 $— $— $424,417 
SBA guaranteed non-affiliate investments72,970 — 72,970 — 
Controlled investments230,934 — — 230,934 
Other real estate owned1
2,354 — — 2,354 
Non-control investments1,000 — — 1,000 
Servicing assets28,008 — — 28,008 
Controlled investments measured at NAV2
29,464 — — — 
Total assets$789,147 $— $72,970 $686,713 
Liabilities:
Derivative instruments3
$183 $— $183 $— 
(1) Included in Other Assets on the Consolidated Statements of Assets and Liabilities.
(2) The Company’s investment in NCL is measured at fair value using NAV and has not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Statements of Assets and Liabilities.
(3) Measured at fair value on a recurring basis with the net unrealized gains or losses recorded in current period earnings.
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The following tables represents the changes in investments, servicing assets and liabilities measured at fair value using Level 3 inputs for the six months ended June 30, 2022 and 2021:
Six Months Ended June 30, 2022
SBA Unguaranteed InvestmentsControlled InvestmentsServicing AssetsNon-Control Investments
Other Real Estate Owned1
Fair value, December 31, 2021$424,417 $230,935 $28,008 $1,000 $2,354 
Net change in unrealized appreciation (depreciation) on investments(2,862)1,875 — — (74)
Change in net unrealized depreciation on servicing assets due to factors other than changes in valuation inputs or assumptions— — (2,340)— — 
Realized loss(3,270)— — — (205)
SBA unguaranteed non-affiliate investments, funded88,053 — — — — 
Foreclosed real estate acquired(676)— — — 676 
Purchase of investments— 19,750 — — — 
Sale of investment— — — — (1,033)
Principal payments received on debt investments(45,680)(2,025)— — — 
Additions to servicing assets— — 6,152 — — 
Fair value, June 30, 2022$459,981 $250,535 $31,820 $1,000 $1,718 
(1) Included in Other Assets on the Consolidated Statements of Assets and Liabilities.

Six Months Ended June 30, 2021
SBA Unguaranteed InvestmentsControlled InvestmentsServicing AssetsNon-Control Investments
Other Real Estate Owned1
Fair value, December 31, 2020$407,748 $219,143 $26,061 $6,447 $2,717 
Net change in unrealized appreciation (depreciation) on investments1,585 (5,776)— 527 96 
Change in net unrealized appreciation on servicing assets due to changes in valuation inputs or assumptions— — (281)— — 
Change in net unrealized depreciation on servicing assets due to factors other than changes in valuation inputs or adjustments— — (1,425)— — 
Realized loss(4,132)— — — (247)
SBA unguaranteed non-affiliate investments, funded34,989 — — — — 
Foreclosed real estate acquired(987)— — — 987 
Purchase of investments— 20,350 — — — 
Purchase of loans from SBA5,181 — — — — 
Sale of investment— — — — (1,265)
Principal payments received on debt investments(30,655)— — (32)— 
Additions to servicing assets— — 3,025 — — 
Fair value, June 30, 2021$413,729 $233,717 $27,380 $6,942 $2,288 
(1) Included in Other Assets on the Consolidated Statements of Assets and Liabilities.

The following tables provide a summary of quantitative information about the Company’s Level 3 fair value measurements as of June 30, 2022 and December 31, 2021. In addition to the inputs noted in the table below, according to our valuation policy we may also use other valuation techniques and methodologies when determining our fair value measurements. The tables below are not intended to be all-inclusive, but rather provide information on the significant Level 3 inputs as they relate to the Company’s fair value measurements at June 30, 2022 and December 31, 2021.
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Fair Value as ofWeightedRange
June 30, 2022Unobservable Input
Average1
MinimumMaximum
Assets:
SBA unguaranteed non-affiliate investments - accrual loans$434,538 Market yields6.88 %6.88 %6.88 %
Cumulative prepayment rate25.00 %25.00 %25.00 %
Average cumulative default rate25.00 %25.00 %25.00 %
SBA unguaranteed non-affiliate investments - non-accrual loans$25,443 Market yields8.88 %8.88 %8.88 %
Average cumulative default rate30.00 %30.00 %30.00 %
Controlled equity investments1
$228,506 
EBITDA multiples-TTM2
7.5x7.00x8.00x
EBITDA multiples-NTM2
6.9x5.75x7.50x
Revenue multiples2
2.33x0.90x3.10x
Book value multiples2
1.00x0.80x1.20x
Earnings-NTM2
6.50x6.00x7.00x
Weighted average cost of capital2
12.64 %11.50 %19.10 %
Controlled debt investments$22,028 Market yields8.66 %5.50 %10.00 %
Non-control equity investments$1,000 Market yields12.50 %10.50 %14.50 %
Servicing assets$31,820 Market yields12.60 %12.60 %12.60 %
Cumulative prepayment rate25.00 %25.00 %25.00 %
Average cumulative default rate25.00 %25.00 %25.00 %
Other real estate owned$1,718 Appraised valueN/AN/AN/A
(1) Weighted by relative fair value.
(2) The Company valued $150.0 million of investments using a combination of EBITDA, both trailing twelve months (“TTM”) and next twelve months (“NTM”), revenue, book value, and earnings multiples in the overall valuation approach, which included the use of market comparable companies. The Company valued $78.5 million of investments using only discounted cash flows.

Fair Value as ofWeightedRange
December 31, 2021Unobservable Input
Average1
MinimumMaximum
Assets:
SBA unguaranteed non-affiliate investments - accrual loans$393,910 Market yields4.50 %4.50 %4.50 %
Cumulative prepayment rate22.00 %22.00 %22.00 %
Average cumulative default rate25.00 %25.00 %25.00 %
SBA unguaranteed non-affiliate investments - non-accrual loans$30,507 Market yields4.85 %4.85 %4.85 %
Average cumulative default rate30.00 %30.00 %30.00 %
Controlled equity investments1
$208,106 
EBITDA multiples-TTM2
8.30x7.50x9.00x
EBITDA multiples-NTM2
7.50x6.30x8.25x
Revenue multiples2
2.67x1.10x3.50x
Weighted average cost of capital2
12.34 %11.00 %18.50 %
Controlled debt investments$22,828 Market yields8.52 %3.80 %12.00 %
Non-control equity investments$1,000 Net asset value9.50 %8.00 %12.00 %
Servicing assets$28,008 Market yields12.60 %12.60 %12.60 %
Cumulative prepayment rate25.00 %25.00 %25.00 %
Average cumulative default rate25.00 %25.00 %25.00 %
Other real estate owned$2,354 Appraised valueN/AN/AN/A
(1) Weighted by relative fair value.
(2) The Company valued $152.8 million of investments using a combination of EBITDA, both training twelve months (“TTM”) and next twelve months (“NTM”), and revenue multiples in the overall valuation approach, which included the use of market comparable companies. The Company valued $55.3 million of investments using only discounted cash flows.

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NOTE 7—BORROWINGS:

At June 30, 2022 and December 31, 2021, the Company had borrowings comprised of the following:
June 30, 2022December 31, 2021
CommitmentsBorrowings OutstandingWeighted Average Interest RateCommitmentsBorrowings OutstandingWeighted Average Interest Rate
Capital One line of credit - guaranteed1
$150,000 $76,000 4.00 %$150,000 $50,000 2.50 %
Capital One line of credit - unguaranteed1
— 51,414 5.00 %— — 3.50 %
2024 Notes38,250 37,790 5.75 %38,250 37,679 5.75 %
2025 6.85% Notes2
— — 6.85 %15,000 14,545 6.85 %
2025 5.00% Notes2
30,000 29,187 5.00 %— — — %
2026 Notes115,000 112,487 5.50 %115,000 112,128 5.50 %
Notes payable - related parties50,000 200 2.85 %50,000 11,450 2.60 %
Notes payable - Securitization Trusts207,582 204,690 2.96 %249,750 246,250 2.05 %
Total$590,832 $511,768 4.20 %$618,000 $472,052 3.38 %
(1) Total combined commitments of the guaranteed and unguaranteed lines of credit were $150.0 million at June 30, 2022 and December 31, 2021.
(2) On March 31, 2022, the Company completed a private placement in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended of $15.0 million aggregate principal amount of its 2025 5.00% Notes to a single purchaser and caused notices to be issued to the holder of its 2025 6.85% Notes regarding the Company’s exercise of its option to redeem all $15.0 million in aggregate principal amount of the 2025 6.85% Notes on May 2, 2022. The Company also issued an addition $15.0 million in aggregate principal amount of 2025 5.00% Notes to the purchaser on May 2, 2022.

On July 26, 2018, our shareholders approved the application of the modified asset coverage requirement as set forth in Section 61(a)(2) of the 1940 Act. As a result, our minimum required asset coverage ratio decreased from 200% to 150%, effective July 27, 2018. As of June 30, 2022, our asset coverage was 176%.

Outstanding borrowings under the 2024 Notes, 2025 Notes, 2026 Notes, and Notes payable - Securitization Trusts consisted of the following:
June 30, 2022December 31, 2021
2024 Notes2025 5.00% Notes2026 NotesNotes Payable- Securitization Trusts2024 Notes2025 6.85% Notes2026 NotesNotes Payable- Securitization Trusts
Principal balance$38,250 $30,000 $115,000 $207,582 $38,250 $15,000 $115,000 $249,750 
Unamortized deferred financing costs(460)(813)(2,513)(2,892)(571)(455)(2,872)(3,500)
Net carrying amount$37,790 $29,187 $112,487 $204,690 $37,679 $14,545 $112,128 $246,250 

At June 30, 2022 and December 31, 2021, the carrying amount of the Company’s borrowings under the Capital One lines of credit, Notes payable - related parties and Notes payable - Securitization Trusts, approximates fair value due to their variable interest rates.

The fair values of the fixed rate 2026 Notes and 2024 Notes are based on the closing public share price on the date of measurement. On June 30, 2022, the closing price of the 2026 Notes was $25.15 per note, or $115.7 million. On December 31, 2021, the closing price of the 2026 Notes was $25.77 per note, or $118.5 million. On June 30, 2022, the closing price of the 2024 Notes was $25.13 per note, or $38.4 million. On December 31, 2021, the closing price of the 2024 Notes was $25.40 per note, or $38.9 million. These borrowings are not recorded at fair value on a recurring basis. The fixed rate 2025 Notes are held at par as of June 30, 2022 and December 31, 2021.
Total interest expense including unused line fees and amortization of deferred financing costs related to borrowings for the six months ended June 30, 2022 and 2021 was $10.5 million and $10.0 million, respectively.
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NOTE 8—DERIVATIVE INSTRUMENTS:

The Company historically used derivative instruments primarily to economically manage the fair value variability of certain fixed rate assets caused by interest rate fluctuations and overall portfolio market risk. The following is a breakdown of the derivatives outstanding as of June 30, 2022 and December 31, 2021:
June 30, 2022December 31, 2021
Fair ValueRemainingFair ValueRemaining
Contract TypeNotional
Asset1
Liability1
Maturity (years)Notional
Asset1
Liability1
Maturity (years)
5-year Swap Futures$— $— $— — $43,247 — $183 0.25 
(1) Shown as derivative instruments, at fair value, in the accompanying consolidated balance sheets.

The following table indicated the net realized gains (losses) and unrealized appreciation (depreciation) on derivatives as included in the consolidated statements of operations for the three and six months ended June 30, 2022 and 2021:
Three Months EndedSix Months Ended
June 30, 2022June 30, 2021June 30, 2022June 30, 2021
Contract TypeUnrealized Appreciation/(Depreciation)Realized Gain/(Loss)Unrealized Appreciation/(Depreciation)Realized Gain/(Loss)Unrealized Appreciation/(Depreciation)Realized Gain/(Loss)Unrealized Appreciation/(Depreciation)Realized Gain/(Loss)
5-year Swap Futures$— $— $(37)$— $183 $445 $(37)$— 

Collateral posted with our futures counterparty is segregated in the Company’s books and records. Historically, the Company’s counterparty held cash margin as collateral for derivatives, which is included in restricted cash in the consolidated balance sheets. Interest rate futures are centrally cleared by the Chicago Mercantile Exchange (“CME”) through a futures commission merchant. The Company is required to post initial margin and daily variation margin for interest rate futures that are centrally cleared by CME. CME determines the fair value of our centrally cleared futures, including daily variation margin. Variation margin pledged on the Company’s centrally cleared interest rate futures is settled against the realized results of these futures.

NOTE 9—COMMITMENTS AND CONTINGENCIES:
Operating and Employment Commitments
The Company leases office space and other office equipment in several states under operating lease agreements which expire at various dates through 2027. Those office space leases which are for more than one year generally contain scheduled rent increases or escalation clauses.
The following summarizes the Company’s obligations and commitments, as of June 30, 2022 for future minimum cash payments required under operating lease and employment agreements:
YearOperating Leases
Employment Agreements1
Total
2022$944 $1,204 $2,148 
20231,928 417 2,345 
20241,981 — 1,981 
20252,035 — 2,035 
20261,915 — 1,915 
Thereafter469 — 469 
Total$9,272 $1,621 $10,893 
(1) Employment agreements with certain of the Company’s named executive officers
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Legal Matters

In the ordinary course of business, the Company and its wholly-owned portfolio companies may from time to time be party to lawsuits and claims. The Company evaluates such matters on a case by case basis and its policy is to contest vigorously any claims it believes are without compelling merit. 

For example, the Company closed on its $5.4 million investment in BSP in June 2016. Subsequently, as previously disclosed, the Company invested $1.7 million in additional capital and recorded $7.1 million in unrealized losses on the BSP investment to write down the fair value of the investment to $0.0 million by June 30, 2019. The BSP investment resulted in protracted litigation with Kerri Agee, the former owner and President of BSP, who filed for bankruptcy and was indicted in 2019 for, and convicted in 2021 of, defrauding the SBA. The Agee litigation concluded with Holdco 5 obtaining a nondischargeable judgment against Agee in the amount of $6.2 million in January 2022. Holdco 5 intends to vigorously pursue all of its rights relating to this matter, though there can be no assurances of the possibility of recovering some or substantially all of the assets referred to in the judgement. Holdco 5 has not recorded any gain contingency relating to this litigation.

As a result of a litigation brought by the Federal Trade Commission (the “FTC”) in October 2012, NMS voluntarily entered into, and is presently operating under, a permanent injunction with respect to certain of its business practices.
Guarantees
The Company is a guarantor on the Receivable and Inventory Facility at NBC. Maximum borrowings under the Receivable and Inventory Facility are $35.0 million. The Receivable and Inventory Facility matures in August 2022 and automatically renews annually. At June 30, 2022, total principal owed by NBC was $9.5 million. In addition, the Company deposited $0.75 million to collateralize the guarantee. At June 30, 2022, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the NBL Capital One Facility. Maximum borrowings under the NBL Facility are $75.0 million with an accordion feature to increase maximum borrowings to $150.0 million. The lender’s commitments terminate in November 2022, with all amounts due under the NBL Facility maturing in November 2023. At June 30, 2022, total principal owed by NBL was $32.8 million. At June 30, 2022, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the NBL Deutsche Bank Facility. Maximum borrowings under the NBL Deutsche Bank Facility are $100.0 million. The Deutsche Bank Facility matures in March 2023. At June 30, 2022, total principal owed by NBL was $5.3 million. At June 30, 2022, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the NBL One Florida Bank Facility. Maximum borrowings under the NBL One Florida Bank Facility are $20.0 million. The Deutsche Bank Facility matures in September 2023. At June 30, 2022, total principal owed by NBL was $6.3 million. At June 30, 2022, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the Webster Facility, a term loan facility between NMS with Webster Bank with an aggregate principal amount up to $50.0 million. The Webster Facility matures in November 2023. At June 30, 2022, total principal outstanding was $23.2 million. At June 30, 2022, the Company determined that it is not probable that payments would be required to be made under the guarantee.

Unfunded Commitments

At June 30, 2022, the Company had $22.3 million of unfunded commitments in connection with its SBA 7(a) non-affiliate investments related to portions of loans originated which are partially funded. The Company will fund these commitments from the same sources it uses to fund its other investment commitments.

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NOTE 10—FINANCIAL HIGHLIGHTS:

The financial highlights for the Company are as follows:
Six Months Ended June 30,
20222021
Per share data¹
Net asset value at beginning of period$16.72 $15.45 
Net investment (loss) income(0.06)1.38 
Net realized gain on investments1.46 0.84 
Net realized gain on derivative transactions0.02 — 
Net unrealized depreciation on investments(0.37)(0.05)
Net unrealized depreciation on servicing assets(0.10)(0.08)
Net unrealized appreciation on derivative transactions0.01 — 
Change in deferred taxes— 0.03 
Net increase in net assets resulting from operations0.96 2.12 
Distributions to common stockholders(1.40)(1.20)
Stock-based compensation expense0.05 0.05 
Accretive effect of stock offerings (issuing shares above NAV per share)— 0.09 
Dilutive effect of purchase of vested stock for employee payroll tax withholding (purchase of shares above NAV)(0.01)(0.03)
Dilutive effect of restricted stock awards(0.02)(0.13)
Other⁴
0.01 0.02 
Net asset value at end of period$16.31 $16.38 
Per share market value at end of period$18.93 $34.92 
Total return based on market value² ⁷(26.15)%83.76 %
Total return based on change in NAV³ ⁷5.92 %13.79 %
Shares outstanding at end of period (in thousands)24,187 22,530 
Ratios/Supplemental Data:
Net assets at end of period$394,532$369,002
Ratio of expenses to average net assets⁸20.38 %22.36 %
Ratio of net investment (loss) income to average net assets⁸(0.54)%17.42 %
Portfolio turnover6
46.68 %125.95 %
Average debt outstanding$487,917$460,106
Average debt outstanding per share$20.17 $20.42 
Asset coverage ratio⁵176 %181 %
Senior securities outstanding$518,446$455,783
(1) Based on actual number of shares outstanding at the end of the corresponding period or the weighted average shares outstanding for the period, unless otherwise noted, as appropriate.
(2) Total return based on market value is calculated based on the purchase of stock at the current market price on the first day and a sale at the current market price on the last day of each period reported and assumes reinvestment of dividends at prices obtained by the Company's DRIP plan during the period. The return does not reflect any sales load that may be paid by an investor.
(3) Total return based on change in NAV is calculated using the change in net asset value plus dividends to stockholders during the period, divided by the beginning net asset value.
(4) Includes the impact of the different share amounts as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date.
(5) Calculated based on the amount of senior securities outstanding at period end.
(6) Portfolio turnover is calculated by dividing (a) the lesser of purchases or sales of portfolio securities by (b) the average total investments at fair value. The calculation includes PPP loan activity in 2021.
(7) Not annualized.
(8) Annualized for the six months ended June 30, 2022. Loss on extinguishment of debt has not been annualized.

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NOTE 11—STOCK BASED COMPENSATION:

Stock Plan

The Company accounts for its stock-based compensation plan using the fair value method, as prescribed by ASC 718, Compensation—Stock Compensation. Accordingly, for restricted stock awards, the Company measured the grant date fair value based upon the market price of its common stock on the date of the grant and amortizes the fair value of the awards as stock-based compensation expense over the requisite service period, which is generally the vesting term.
 
The Board approves the issuance of shares of restricted stock to employees and directors pursuant to the Equity Incentive Plan. These shares generally vest over a one to three year period from the grant date. The fair value is expensed over the service period, starting on the grant date. The following table summarizes the restricted stock issuances under the Equity Incentive Plan, net of shares forfeited, if any, and the remaining shares of restricted stock available for issuance as of June 30, 2022.
Restricted Stock authorized under the plan1
1,500,000 
Less net restricted stock (granted)/forfeited during:
Year ended December 31, 2016(120,933)
Year ended December 31, 2017(5,007)
Year ended December 31, 2018(93,568)
Year ended December 31, 2019(6,285)
Year ended December 31, 20202,639 
Year ended December 31, 2021(214,654)
Six months ended June 30, 2022(19,102)
Restricted stock available for issuance as of June 30, 20221,043,090 
(1) A maximum of 20% of total shares of common stock issued and outstanding, calculated on a fully diluted basis, not to exceed 3.0 million shares, are available for awards of restricted stock and stock options under the Equity Incentive Plan. No more than 50% of the shares of stock reserved for the grant of awards under the Equity Incentive Plan may be restricted stock awards at any time during the term of the Equity Incentive Plan. No stock options have been granted under the Equity Incentive Plan.

As of June 30, 2022, there was $2.5 million of total unrecognized compensation expense related to unvested restricted shares. This compensation expense is expected to be recognized over a remaining weighted-average period of approximately 1 year as of June 30, 2022.

For the three months ended June 30, 2022 and 2021 the Company recognized total stock-based compensation expense of $0.5 million and $0.5 million, respectively. For the six months ended June 30, 2022 and 2021 the Company recognized total stock-based compensation expense of $1.2 million and $1.2 million, respectively.

NOTE 12—COMMON STOCK:

ATM Program

On June 25, 2020, the Company entered into the 2020 ATM Equity Distribution Agreement. As of June 30, 2022, there were 37,661 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement. On July 20, 2022, the Company entered into Amendment No. 1 to the 2020 ATM Equity Distribution Agreement. The 2020 ATM Equity Distribution Agreement, as amended, provides that the Company may offer and sell up to 6,400,000 shares of common stock from time to time through the placement agents. As of August 5, 2022, there were 3,437,661 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement, as amended.

The following table summarizes the total shares sold and net proceeds received under the 2020 ATM Equity Distribution Agreement:
Six Months Ended June 30, 2022Year Ended December 31, 2021
Shares sold— 1,939,760 
Net weighted average price per share$— $25.91 
Net proceeds$— $50,261 

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The Company used the net proceeds for funding investments in debt and equity securities in accordance with its investment objective and strategies.

Stock Repurchase Program

On June 21, 2022, the Company's Board of Directors approved a repurchase program under which the Company may repurchase up to 500,000 shares of the Company’s common stock, par value $0.02 per share, through open market purchases, including block purchases, in such manner as will comply with the provisions of the Investment Company Act of 1940 and the Securities Exchange Act of 1934, as amended. Unless extended or terminated by the Company's board of directors, the Company expects the termination date for the repurchase program will be on December 21, 2022. The Company has not repurchased any common shares under the repurchase program during the six months ended June 30, 2022.

NOTE 13—EARNINGS PER SHARE:

The following table summarizes the calculations for the net increase in net assets resulting from operations per common share for the three and six months ended June 30, 2022 and 2021:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Net increase in net assets resulting from operations$13,519 $17,374 $23,171 $47,498 
Weighted average shares outstanding24,157 22,524 24,156 22,431 
Net increase in net assets resulting from operations per share$0.56 $0.77 $0.96 $2.12 

NOTE 14—LEASES:

Under ASC 842, operating lease expense is generally recognized on a straight-line basis over the term of the lease. The Company has entered into operating lease agreements for office space with remaining contractual terms up to 5 years, some of which include renewal options that extend the leases for up to 10 years. These renewal options are not considered in the remaining lease term unless it is reasonably certain the Company will exercise such options. The operating lease agreements do not contain any material residual value guarantees or material restrictive covenants.

As the rate implicit in the leases generally is not readily determinable for our operating leases, the discount rates used to determine the present value of our lease liability are based on our incremental borrowing rate at the lease commencement date and commensurate with the remaining lease term. Our incremental borrowing rate for a lease is the rate of interest we would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Leases with an initial term of 12 months or less are not recorded on the balance sheet and are excluded from our weighted-average remaining lease term.

The following table summarizes supplemental cash flow and other information related to our operating leases:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Cash paid for amounts included in the measurement of lease liabilities (operating cash flows)$471 $385 $932 $783 
Weighted-average remaining lease term - operating leases4.66 years 5.80 years 4.66 years 5.80 years
Weighted-average discount rate - operating leases4.55 %4.56 %4.55 %4.76 %
Total lease costs (included in other general and administrative costs on the consolidated statements of operations)$236 244$476 $440 

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The following table represents the maturity of the Company’s operating lease liabilities as of June 30, 2022:
Maturity of Lease Liabilities
2022944 
20231,928 
20241,981 
20252,035 
20261,915 
Thereafter469 
Total future minimum lease payments$9,272 
Less: Imputed interest$(949)
Present value of future minimum lease payments$8,323 

NOTE 15—DIVIDENDS AND DISTRIBUTIONS:

The Company’s dividends and distributions are recorded on the declaration date. The following table summarizes the Company’s dividend declarations and distributions during the six months ended June 30, 2022 and 2021.
Date DeclaredRecord DatePayment DateAmount Per ShareCash DistributionDRIP Shares IssuedDRIP
Shares Value
Six months ended June 30, 2022
December 20, 2021March 21, 2022March 31, 2022$0.65 $15,361 $225 
April 20, 2022June 20, 2022June 30, 2022$0.75 $17,634 21 $374 
Six months ended June 30, 2021
February 23, 2021March 22, 2021March 31, 2021$0.50 $11,025 $140 
May 11, 2021June 15, 2021June 30, 2021$0.70 $15,433 $213 

During the six months ended June 30, 2022 and 2021, an additional 9,400 and 6,500 shares valued at $0.2 million and $0.2 million, respectively, were issued related to dividends on unvested restricted stock awards.

NOTE 16—SUPPLEMENTAL FINANCIAL DATA:

Summarized Financial Information of Our Unconsolidated Subsidiaries

The Company holds a controlling interest as defined by the 1940 Act in portfolio companies that are not consolidated in the Company’s condensed consolidated financial statements. Below is a brief description of a portfolio companies that are required to have supplemental disclosure incorporated in our financial statements in accordance with Regulation S-X section 4-08(g), along with summarized financial information.

Newtek Merchant Solutions, LLC

NMS markets and sells credit and debit card processing services, check approval services and ancillary processing equipment and software to merchants who accept credit cards, debit cards, checks and other non-cash forms of payment.

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The summarized financial information of our unconsolidated subsidiary is as follows:

Balance Sheets - Newtek Merchant Solutions, LLCAs of June 30, 2022As of December 31, 2021
Current assets$16,045 $10,165 
Noncurrent assets16,120 27,000 
Total assets$32,165 $37,165 
Current liabilities9,369 8,953 
Noncurrent liabilities17,938 20,291 
Total liabilities$27,307 $29,244 
Total member’s equity$4,858 $7,921 


Three Months Ended June 30,Six Months Ended June 30,
Statements of Income - Newtek Merchant Solutions, LLC2022202120222021
Revenue$6,780 $5,491 $12,250 $10,328 
Expenses2,443 2,302 4,866 4,646 
Income from operations$4,337 $3,189 $7,384 $5,682 
Interest expense, net(136)(146)(256)(304)
Income before tax$4,201 $3,043 $7,128 $5,378 

The Company recorded the following related to its investment in NMS:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Dividend income$3,100 $— $7,600 $— 
Unrealized depreciation$(1,000)$— $(1,000)$— 

Newtek Business Lending, LLC

NBL originates, purchases and sells commercial loans under the SBA’s 504 loans program. The summarized financial information of our unconsolidated subsidiary is as follows:

Newtek Business Lending, LLC Balance SheetsAs of June 30, 2022As of December 31, 2021
(unaudited)
Current assets$100,740 $77,776 
Noncurrent assets1,683 2,012 
Total assets$102,423 $79,788 
Current liabilities8,013 8,392 
Noncurrent liabilities44,391 35,241 
Total liabilities$52,404 $43,633 
Total member’s equity$50,019 $36,155 

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Three Months Ended June 30,Six Months Ended June 30,
Newtek Business Lending, LLC Statements of Income2022202120222021
Revenue$2,902 $3,257 $5,285 $5,405 
Expenses1,051 823 3,274 2,626 
Income from operations$1,851 $2,434 $2,011 $2,779 
Interest expense, net995 1,025 492 646 
Operating income857 1,409 1,519 2,133 
Net unrealized depreciation on loans receivable - held for sale, at fair value$(99)$(81)$(28)$(282)
Realized gain on derivative transactions801 — 1,074 — 
Unrealized (loss) gain on derivative transactions(432)113 61 113 
Net Income$1,127 $1,441 $2,626 $1,964 

The Company recorded the following related to its investment in NBL:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Dividend income$1,350 $— $1,875 $— 
Unrealized appreciation$4,000 $— $4,000 $1,370 

NOTE 17—SUBSEQUENT EVENTS:

ATM

On July 20, 2022, the Company entered into Amendment No. 1 to the 2020 ATM Equity Distribution Agreement. The purpose of the amendment was to increase the maximum number of shares of common stock, par value $0.02 per share, available for sale under the Equity Distribution Agreement from 3,000,000 shares to 6,400,000 shares, which number includes all shares previously sold pursuant to the Equity Distribution Agreement. As of August 5, 2022, there were 3,437,661 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement, as amended.

Joint Venture Agreement

On August 5, 2022, NCL and TSO II Booster Aggregator, L.P. (“TSO II”) entered into a joint venture, Newtek-TSO II Conventional Credit Partners, LP (the “JV”), governed by the Amended and Restated Limited Partnership Agreement for the JV. NCL and TSO II each committed to contribute an equal share of equity funding to the JV and each will have equal voting rights on all material matters. The JV intends to deploy capital over the course of time with additional leverage supported by a warehouse line of credit. The intended purpose of the JV will be to originate commercial loans to middle-market companies as well as small businesses.

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Newtek Business Services Corp. and Subsidiaries
Schedule of Investments In and Advances to Affiliates
Six Months Ended June 30, 2022
Portfolio Company
Type of Investment1
Amount of Realized Gain (Loss)Amount of Unrealized Appreciation (Depreciation)
Amount of Interest or Dividends Credited to Income3
Fair Value at December 31, 2021
Gross Additions4
Gross Reductions5
Fair Value at June 30, 2022
Automated Merchant Services, Inc.
100% Common Stock2
— — — — — — — 
CDS Business Services, Inc.
100% Common Stock2
— — — — — — — 
Line of Credit (10%)— (1,058)554 7,300 1,900 (2,658)6,542 
Newtek Technology Solutions, Inc.
100% Common Stock2
— (3,400)— 36,000 400 (3,400)33,000 
Line of Credit (10%)— — 2,055 11,000 — — 11,000 
Line of Credit (Prime + 0.5%)6
— — 225 — (225)— 
Newtek Insurance Agency, LLC
100% Membership Interest2
— 1,200 — 2,300 1,200 — 3,500 
PMTWorks Payroll, LLC
100% Membership Interest2
— 600 — — 85 (85)— 
Term Loans (10%-12%)2
— — 140 2,000 685 — 2,685 
Small Business Lending, LLC
100% Membership Interest2
— (1,265)— 4,000 3,565 (1,265)6,300 
Term Loan (10%)— — 20 400 — — 400 
banc-serv Partners, LLC
100% Membership Interest2
— — — — — — — 
Newtek Merchant Solutions, LLC100% Membership Interest— (1,000)7,600 114,500 — (1,000)113,500 
Titanium Asset Management, LLC
100% Membership Interest2
— — — — — — — 
Term Loan (10%)2
— (302)— 603 (503)101 
Newtek Business Lending, LLC100% Membership Interest— 4,000 1,875 47,406 17,800 — 65,206 
Newtek Conventional Lending, LLC50% Membership Interest— (2,333)1,659 29,464 — (12,074)17,390 
Mobil Money, LLC100% Membership Interest— 3,100 150 3,900 3,100 — 7,000 
POS on Cloud, LLC
50.1% Membership Interest2
— — — — — — — 
Term Loan (10%)— — 65 1,300 — — 1,300 
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Portfolio Company
Type of Investment1
Amount of Realized Gain (Loss)Amount of Unrealized Appreciation (Depreciation)
Amount of Interest or Dividends Credited to Income3
Fair Value at December 31, 2021
Gross Additions4
Gross Reductions5
Fair Value at June 30, 2022
Excel WebSolutions LLC
Term Loans (10%)2
— — — — — — — 
100% Membership Interest2
— — — — — — — 
Total Controlled Investments$ $(458)$14,119 $260,398 $28,736 $(21,210)$267,924 
Non-Control Investments
EMCAP Loan Holdings, LLC4.67% Membership Interest— — 43 1,000 — — 1,000 
Total Affiliate Investments$ $(458)$14,162 $261,398 $28,736 $(21,210)$268,924 

This schedule should be read in connection with the Company’s Consolidated Financial Statements, including the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements.

(1) The principal amount and ownership detail as shown in the Company’s Consolidated Schedule of Investments.
(2) Represents non-income producing security.
(3) Represents the total amount of interest, dividends, and other income credited to income for the period.
(4) Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in unrealized depreciation.
(5) Gross reductions include decreases in the cost basis of investments resulting from principal payments or sales and exchanges of one or more existing securities for one or more new securities. Gross reductions also include net increases in unrealized depreciation or net decreases in unrealized appreciation.
(6) Index based floating rate debt investments bear interest at rate of Prime plus a contractual spread which typically resets monthly. At June 30, 2022, the Prime rate in effect was 3.50%.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

Forward-Looking Statements

The matters discussed in this report, as well as in future oral and written statements by management of Newtek Business Services Corp., that are forward-looking statements are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Forward-looking statements relate to future events or our future financial performance. We generally identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Important assumptions include our ability to originate new investments, achieve certain margins and levels of profitability, the availability of additional capital, and the ability to maintain certain debt to asset ratios. In light of these and other uncertainties, including the impact of the COVID-19 pandemic, the inclusion of a projection or forward-looking statement in this report should not be regarded as a representation by us that our plans or objectives will be achieved. The forward-looking statements contained in this report include statements as to:
our future operating results;
our business prospects and the prospects of our prospective portfolio companies, including our and their ability to achieve our respective objectives as a result of the ongoing COVID-19 pandemic, changes in base interest rates, rising inflation, significant market volatility, and supply chain disruptions;
the impact of investments that we expect to make;
our informal relationships with third parties;
the dependence of our future success on the general economy and its impact on the industries in which we invest;
our ability to access debt markets and equity markets;
our ability to consummate the transactions contemplated by the Stock Purchase Agreement;
our receipt of certain Regulatory Approvals to operate as a bank holding company and acquire NBNYC;
our management’s ability to operate as a bank holding company;
our intended operations and structure as a bank holding company;
our tax and accounting treatment as a C Corporation if we convert to a bank holding company;
the decrease in our dividend payout due to no longer operating as a BDC and RIC if we discontinue our election as a BDC and the transaction with NBNYC is consummated;
our expected financings and investments;
our regulatory structure and tax status;
our ability to operate as a BDC and a RIC;
the timing of the discontinuance of our election to be a BDC and our status as a RIC;
NSBF’s ability to maintain its license and PLP status under the SBA 7(a) program;
NSBF’s ability to sell the guaranteed portions of SBA 7(a) loans at premiums;
the adequacy of our cash resources and working capital;
the timing of cash flows, if any, from the operations of our portfolio companies;
the impact of inflation on our business prospects and the prospects of our portfolio companies;
the timing, form and amount of any dividend distributions;
the impact of fluctuations in interest rates on our business including as a result of the decommissioning of LIBOR and implementation of alternatives to LIBOR;
the impact of inflation and rising interest rates on our business prospects and the prospects of our portfolio companies;
the impact of the ongoing conflict between Russia and Ukraine;
the valuation of any investments in portfolio companies, particularly those having no liquid trading market; and
our ability to recover unrealized losses;
NSBF’s ability to issue SBA 7(a) guaranteed loans;
the effect of legal, tax and regulatory changes;
the ability of our SBA 7(a) borrowers to pay principal and interest, including after any deferment period granted by NSBF; and
the ability to enter into and/or maintain joint ventures or other financing arrangements.

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The following discussion should be read in conjunction with our condensed consolidated financial statements and related notes and other financial information appearing elsewhere in this report. In addition to historical information, the following discussion and other parts of this report contain forward-looking information that involves risks and uncertainties. Our actual results could differ materially from those anticipated by such forward-looking information due to the factors discussed under Item 1A-“Risk Factors” of Part II of this quarterly report on Form 10-Q, Item 1A-“Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 1, 2022, and under “Forward-Looking Statements” of this Item 2.

Executive Overview

We are a leading national non-bank lender and own and control certain portfolio companies under the Newtek® brand (our “controlled portfolio companies,” as defined below) that provide a wide range of business and financial solutions to SMBs. Newtek's and its portfolio companies’ business and financial solutions include: Business Lending, including origination of SBA 7(a), SBA 504, and non-conforming (non SBA) conventional loans, as well as PPP loans in the second and third quarters of 2020, as well as the first quarter of 2021, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), Technology Consulting, eCommerce, Accounts Receivable and Inventory Financing, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll and Benefits Solutions to SMB accounts nationwide across all industries. We believe that we have an established and reliable platform that is not limited by client size, industry type, or location. As a result, we believe we have a strong and diversified client base across every state in the United States and across a variety of different industries. In addition, we have developed a financial and technology enabled business model that allows us and our controlled portfolio companies to acquire and process our SMB clients in a very cost effective manner. This capability is supported in large part by NewTracker®, our patented prospect management technology software, which is similar to, but we believe better suited for our needs than, the system popularized by Salesforce.com. We believe that this technology and business model distinguishes us from our competitors.

On August 2, 2021, the Company entered into the Stock Purchase Agreement to acquire all of the issued and outstanding stock of NBNYC (the Acquisition). This Acquisition is part of a plan to reposition the Company as a bank holding company that intends to elect financial holding company status, and is subject to Regulatory Approvals. In connection with this plan, on June 1, 2022, the Company held a special meeting of shareholders, at which the Company's shareholders approved a proposal to authorize the Company’s Board of Directors to discontinue the Company’s election to be regulated under the Investment Company Act of 1940, subject to Regulatory Approvals and other conditions described in the proxy statement filed with the SEC on May 2, 2022. Subsequent to the approval of this proposal, which was required under the 1940 Act, the Company may choose to discontinue its election as a BDC; however, the Company’s Board of Directors will not seek to discontinue the Company’s election as a BDC until after the Company receives the required Regulatory Approvals and after certain of the Acquisition closing conditions are met. The final decision on the timing of the Company’s discontinuance from regulation as a BDC will be made by the Board of Directors based on such factors deemed appropriate by the Board of Directors, including the then current status of the Acquisition and discussions with applicable regulatory authorities; the Company currently intends to maintain its status as a BDC and RIC in the near term. The consideration payable by the Company at closing of the Acquisition will be $20.0 million in cash, subject to certain adjustments. In addition, the Stock Purchase Agreement contemplates that, as of the closing and subject to Regulatory Approvals, NBNYC will dividend to the NBNYC selling shareholders (“Sellers”) both NBNYC’s owned property in Flushing, New York and cash in the amount equal to the excess, if any, of NBNYC’s tangible common equity as of the closing date over $20.0 million. The Stock Purchase Agreement contains certain customary representations and warranties made by each party. The Company and the Sellers have the right to terminate the Stock Purchase Agreement under certain circumstances, including if the purchase has not occurred on or prior to November 2, 2022 or if the requisite applications and Regulatory Approvals have been denied. We anticipate receiving the required Regulatory Approvals during the third or early fourth quarter of 2022. If the Stock Purchase Agreement is terminated in certain circumstances specified therein, the Company may be required to pay NBNYC a fee of $0.2 million.

Following the closing of the Acquisition, the Company intends to operate as a bank holding company, subject to certain Regulatory Approvals. Specifically, the Company intends to contribute certain of its wholly-owned lending portfolio companies to NBNYC, and to provide a centralized lending operations through NBNYC. The Company intends to further develop the Company’s current patented technology, which the Company intends to complement its proposed banking offerings, subject to Regulatory Approvals. The Company also intends to retain its current board of directors and management, as supplemental by additional personnel with banking experience. However, there can be no assurances that the Company will close the Acquisition, receive the required Regulatory Approvals, or that the Company will be able to successfully operate as a bank holding company.

If the Company obtains the required Regulatory Approvals and subsequently discontinues its election to be treated as a BDC and converts to a bank holding company, the Company will no longer be subject to the 1940 Act, and the Company would lose its ability to be taxed on a pass-through basis as a RIC. Additionally, as a bank holding company, the Company would be subject to regulation and supervision that may be different from its current regulation and supervision, and would be required to
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comply with accounting and financial reporting requirements that may be different from its current reporting requirements. Moreover, converting to a bank holding company may make it more difficult for the Company to be acquired. For information on the risks of converting to a bank holding company, see “Item 1A. Risk Factors – Risk Related to Converting to a Bank Holding Company.”
We consolidate the following wholly-owned subsidiaries:
Newtek Small Business Finance, LLC
Newtek Asset Backed Securities, LLC
CCC Real Estate Holdings, LLC
The Whitestone Group, LLC
Wilshire DC Partners, LLC
Wilshire Holdings I, Inc.1
Wilshire Louisiana BIDCO, LLC
Wilshire Louisiana Partners II, LLC
Wilshire Louisiana Partners III, LLC
Wilshire Louisiana Partners IV, LLC
Wilshire New York Advisers II, LLC
Wilshire New York Partners III, LLC
Wilshire Partners, LLC
Exponential Business Development Co., Inc.1
Newtek Commercial Lending, Inc.1
Newtek LSP Holdco, LLC
Newtek Business Services Holdco 1, Inc.1 (surviving entity of January 2021 merger with Newtek Business Services Holdco 2, Inc.)
Newtek Business Services Holdco 3, Inc.1
Newtek Business Services Holdco 4, Inc.1
Newtek Business Services Holdco 5, Inc.1 (formerly Banc-Serv Acquisition, Inc.)
Newtek Business Services Holdco 6, Inc.1
(1) Taxable Subsidiaries

We are an internally-managed, closed-end, non-diversified investment company that has elected to be regulated as a BDC under the 1940 Act. In addition, for U.S. federal income tax purposes, we have elected to be treated as a RIC under the Code beginning with our 2015 tax year. As a BDC and a RIC, we are also subject to certain constraints, including limitations imposed by the 1940 Act and the Code. As a result, previously consolidated subsidiaries are now recorded as investments in controlled portfolio companies at fair value. NSBF is a consolidated subsidiary and originates loans under the SBA's 7(a) loan program. 
However, as part of our plan to reposition ourself as a bank holding company that intends to elect financial holding company status, if we discontinue the Company's election as a business development company under the 1940 Act, we will no longer be subject to the investment restrictions under the 1940 Act, and no longer qualify as a RIC under the Code. See "Risk Factors - Risks of Converting to a Bank Holding Company."

Our common shares are currently listed on the Nasdaq Global Market under the symbol “NEWT”.

NSBF, a nationally licensed SBA lender under the federal Section 7(a) loan program, has been granted PLP status and originates, sells and services SBA 7(a) loans and is authorized to place SBA guarantees on loans without seeking prior SBA review and approval. Being a national lender with PLP status allows NSBF to expedite the origination of loans since NSBF is not required to present applications to the SBA for concurrent review and approval. The loss of PLP status would adversely impact our marketing efforts and ultimately our loan origination volume, which would negatively impact our results of operations.

As a BDC, our investment objective is to generate both current income and capital appreciation primarily through loans originated by our business finance ecosystem and our equity investments in certain portfolio companies that we control.

We target our debt investments, which are principally made through our business finance ecosystem under the SBA 7(a) program, to produce a coupon rate of prime plus 2.25% to 2.75% which enables us to generate rapid sales of guaranteed
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portions of SBA 7(a) loans in the secondary market. We typically structure our debt investments with the maximum seniority and collateral along with personal guarantees from portfolio company owners, in many cases collateralized by other assets including real estate. In most cases, our debt investment will be collateralized by a first lien on the assets of the portfolio company and a first or second lien on assets of guarantors, in both cases primarily real estate. All SBA loans are made with personal guarantees from any owner(s) of 20% or more of the portfolio company’s equity. The amount of new debt investments, particularly SBA 7(a) loans that we originate, will directly impact future investment income. In addition, future amounts of unrealized appreciation or depreciation on our investments, as well as the amount of realized gains or losses, will also fluctuate depending upon economic conditions and the performance of our investment portfolio. The changes in realized gains and losses and unrealized appreciation or depreciation could have a material impact on our operating results.

We typically structure our debt investments to include non-financial covenants that seek to minimize our risk of capital loss such as lien protection and prohibitions against change of control. Our debt investments have what we believe are strong protections, including default penalties, information rights and, in some cases, board observation rights and affirmative, negative and financial covenants. Debt investments in portfolio companies, including the controlled portfolio companies, have historically and are expected to continue to comprise the majority of our overall investments in number and dollar volume.

While the vast majority of our investments have been structured as debt, we have in the past and expect in the future to make selective equity investments primarily as either strategic investments to enhance the integrated operating platform or, to a lesser degree, under the Capco programs. For investments in our controlled portfolio companies, we focus more on tailoring them to the long term growth needs of the companies than to return. Our objectives with these companies is to foster the development of the businesses as a part of the integrated operational platform of serving the SMB market, so we may reduce the burden on these companies to enable them to grow faster than they would otherwise and as another means of supporting their development.

We regularly engage in discussions with third parties with respect to various potential transactions. We may acquire an investment or a portfolio of investments or an entire company or sell a portion of our portfolio on an opportunistic basis. We, our subsidiaries, or our affiliates may also agree to manage certain other funds that invest in debt, equity or provide other financing or services to companies in a variety of industries for which we may earn management or other fees for our services. We may also invest in the equity of these funds, along with other third parties, from which we would seek to earn a return and/or future incentive allocations. We may enter into new joint venture partnerships to create additional third-party capital to originate loans. Some of these transactions could be material to our business. Consummation of any such transaction will be subject to completion of due diligence, finalization of key business and financial terms (including price) and negotiation of final definitive documentation as well as a number of other factors and conditions including, without limitation, the approval of our board of directors and required regulatory or third-party consents and, in certain cases, the approval of our shareholders. Accordingly, there can be no assurance that any such transaction would be consummated. Any of these transactions or funds may require significant management resources either during the transaction phase or on an ongoing basis depending on the terms of the transaction.

On March 27, 2020, the CARES Act was signed into law in response to the COVID-19 pandemic and established the PPP. NSBF participated in the PPP and funded the balance of its PPP loans by the end of July 2021. NSBF has redeployed resources used to originate PPP loans to the origination of SBA 7(a) loans. Income earned in connection with the PPP should not be viewed as recurring.

COVID-19 and Economic Developments

In March 2020, the outbreak of COVID-19 was recognized as a pandemic by the World Health Organization and in response to the outbreak, management instituted a work from home policy until it was deemed safe to return to the office. Management implemented a hybrid work schedule beginning in April of 2022.

We have and continue to assess the impact of COVID-19 on our portfolio companies and our operations. We cannot predict the full impact of the COVID-19 pandemic, including its duration in the United States and worldwide, the effectiveness of governmental responses designed to mitigate strain to businesses and the economy and the magnitude of the economic impact of the outbreak. The COVID-19 pandemic and preventative measures taken to contain or mitigate its spread have caused, and are continuing to cause, business shutdowns, cancellations of events and travel. In addition, while economic activity has improved from the beginning of the COVID-19 pandemic, we continue to observe supply chain interruptions, labor difficulties, commodity inflation, rising interest rates, economic sanctions as a result of the ongoing conflict between Russia and Ukraine and elements of economic and financial market instability both globally and in the United States. In the event that the U.S. economy enters into a protracted recession, it is possible that the results of some of the companies similar to those in which we invest could experience deterioration, which could ultimately lead to difficulty in meeting debt service requirements and an
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increase in defaults. While we are not seeing signs of an overall, broad deterioration in our portfolio company results at this time, there can be no assurance that the performance of certain of our portfolio companies will not be negatively impacted by economic conditions, which could have a negative impact on our future results.

We continue to closely monitor our portfolio companies; however, we are unable to predict the duration of any business and supply-chain disruptions, the extent to which COVID-19 or economic conditions will negatively affect our portfolio companies’ operating results or the impact that such disruptions may have on our results of operations and financial condition.

Price Range of Common Stock
Our common stock is traded on the Nasdaq Global Market under the symbol “NEWT.” High and low prices for the common stock over the previous two years are set forth below, based on the highest and lowest intraday sales price per share during that period.
Price Range
NAV1
Premium of High Sales Price to NAV2
Premium of Low Sales Price to NAV2
HighLow
2020
First Quarter$23.09$7.59$15.3151%(50)%
Second Quarter$18.84$9.03$15.3323%(41)%
Third Quarter$20.50$16.73$15.4133%9%
Fourth Quarter$19.82$16.24$15.7026%3%
2021
First Quarter$28.63$18.77$16.2876%15%
Second Quarter$38.78$26.41$16.38137%61%
Third Quarter$36.41$24.07$16.23124%48%
Fourth Quarter$32.38$25.63$16.7294%53%
2022
First Quarter$28.70$24.00$16.4974%46%
Second Quarter$27.18$17.65$16.3167%8%
(1) Net asset value per share is determined as of the last day in the relevant quarter and therefore may not reflect the net asset value per share on the date of the high and low sales prices. The values reflect net asset value per share and are based on outstanding shares at the end of each period.
(2) Calculated as the respective high or low sales price divided by net asset value and subtracting 1.

Revenues

We generate revenue in the form of interest, dividend, servicing and other fee income on debt and equity investments. Our debt investments typically have terms of 10 to 25 years and bear interest at prime plus a margin. In some instances, we receive payments on our debt investments based on scheduled amortization of the outstanding balances. In addition, we receive repayments of some of our debt investments prior to their scheduled maturity date. The frequency or volume of these repayments fluctuates significantly from period to period. Our portfolio activity also reflects the proceeds of sales of securities. We receive servicing income related to the guaranteed portions of SBA investments which we originate and sell into the secondary market. These recurring fees are earned daily and recorded when earned. In addition, we may generate revenue in the form of packaging, prepayment, legal and late fees. We record such fees related to loans as other income. Dividends are recorded as dividend income on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income is recorded at the time dividends are declared. Distributions of earnings from portfolio companies are evaluated to determine if the distribution is income, return of capital or realized gain. In addition, under the PPP that began in the second quarter of 2020 and concluded during the third quarter of 2021, the SBA reimbursed the
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Company for originating loans and such SBA reimbursements are included as interest income on PPP loans. Income earned in connection with the PPP should not be viewed as recurring. NSBF funded the balance of its PPP loans by the end of July 2021. NSBF has redeployed resources used to generate PPP loans to the origination of SBA 7(a) loans.
We recognize realized gains or losses on investments based on the difference between the net proceeds from the disposition and the cost basis of the investment without regard to unrealized gains or losses previously recognized. We record current period changes in fair value of investments and assets that are measured at fair value as a component of the net change in unrealized appreciation (depreciation) on investments or servicing assets, as appropriate, in the consolidated statements of operations.

Expenses

Our primary operating expenses are salaries and benefits, interest expense, origination and servicing and other general and administrative costs, such as professional fees, marketing, referral fees, servicing costs and rent. Since we are an internally-managed BDC with no outside adviser or management company, the BDC incurs all the related costs to operate the Company.
Guarantees
The Company is a guarantor on the Receivable and Inventory Facility at NBC. Maximum borrowings under the Receivable and Inventory Facility are $35.0 million. The Receivable and Inventory Facility matures in August 2022 and automatically renews annually. At June 30, 2022, total principal owed by NBC was $9.5 million. In addition, the Company deposited $0.75 million to collateralize the guarantee. At June 30, 2022, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the NBL Capital One Facility, NBL Deutsche Bank Facility and NBL One Florida Bank Facility. Maximum borrowings under the NBL Capital One Facility are $75.0 million with an accordion feature to increase maximum borrowings to $150.0 million. The lenders’ commitments terminate in November 2022, with all amounts due under the NBL Capital One Facility maturing in November 2023. Maximum borrowings under the NBL Deutsche Bank facility $100.0 million with a maturity date in March 2023. Maximum borrowings under the NBL One Florida Bank facility are $20.0 million with a maturity date in September 2023. At June 30, 2022, total principal owed by NBL under these facilities was $44.4 million. At June 30, 2022, the Company determined that it is not probable that payments would be required to be made under these guarantees.

The Company is a guarantor on the Webster Facility, a term loan facility between NMS with Webster Bank with an aggregate principal amount up to $50.0 million. The Webster Facility matures in November 2023. At June 30, 2022, total principal outstanding was $23.2 million. At June 30, 2022, the Company determined that it is not probable that payments would be required to be made under the guarantee.

Newtek Conventional Lending, LLC (NCL)

We established a 50/50 joint venture, NCL, between Newtek Commercial Lending, Inc., a wholly-owned subsidiary of Newtek, and Conventional Lending TCP Holding, LLC, a wholly-owned, indirect subsidiary of BlackRock TCP Capital Corp. (Nasdaq:TCPC). NCL provided non-conforming conventional commercial and industrial term loans to U.S. middle-market companies and small businesses. NCL ceased funding new loans during 2020 due to the COVID-19 pandemic. On January 28, 2022, NCL closed a conventional commercial loan securitization with the sale of $56.3 million Class A Notes , NCL Business Loan Trust 2022-1, Business Loan-Backed Notes, Series 2022-1, secured by a segregated asset pool consisting primarily of conventional commercial business loans, including loans secured by liens on commercial or residential mortgaged properties, originated by NCL and NBL. The Notes were rated “A” (sf) by DBRS Morningstar. The Notes were priced at a yield of 3.209%. The proceeds of the securitization were used, in part, to repay the Deutsche Bank credit facility and return capital to the JV partners. Refer to NOTE 3—INVESTMENTS for selected financial information and a schedule of investments of NCL as of June 30, 2022. The Company anticipates relaunching its non-conforming conventional commercial loan program through new joint venture partnerships.

Unfunded Commitments

At June 30, 2022, the Company had $22.3 million of unfunded commitments in connection with its SBA 7(a) non-affiliate investments related to portions of loans originated which are partially funded. The Company will fund these commitments from the same sources it uses to fund its other investment commitments.

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Loan Portfolio Asset Quality and Composition
The following tables set forth distributions of the cost basis of the Company’s SBA 7(a) loan portfolio at June 30, 2022 and December 31, 2021, respectively, in thousands. The tables include loans in which NSBF owns 100% as a result of NSBF originating the loan and subsequently repurchasing the guaranteed portion from the SBA. The total of 100% NSBF-owned loans at June 30, 2022 and December 31, 2021 is $12.7 million and $18.5 million, respectively.
Distribution by Business Type
As of June 30, 2022
Business Type# of Loans BalanceAverage Balance% of Balance
Existing Business2,453 $379,576 $155 80.7 %
Business Acquisition361 64,362 207 13.7 %
Start-Up Business301 26,459 96 5.6 %
Total3,115 $470,396 $151 100.0 %
As of December 31, 2021
Business Type# of LoansBalanceAverage Balance% of Balance
Existing Business2,162 $349,999 $162 81.1 %
Business Acquisition333 59,794 207 13.8 %
Start-Up Business266 22,176 96 5.1 %
Total2,761 $431,970 $156 100.0 %
Distribution by Borrower Credit Score
June 30, 2022
Credit Score# of Loans BalanceAverage Balance% of Balance
500 to 55012 $3,367 $281 0.7 %
551 to 60057 14,573 256 3.1 %
601 to 650294 58,102 198 12.4 %
651 to 700831 131,022 158 27.8 %
701 to 7501,068 151,697 142 32.2 %
751 to 800750 100,905 135 21.5 %
801 to 850101 10,684 106 2.3 %
Not available46 23 0.0 %
Total3,115 $470,396 $151 100.0 %
December 31, 2021
Credit Score# of LoansBalanceAverage Balance% of Balance
500 to 55015 $3,562 $237 0.8 %
551 to 60059 15,322 260 3.6 %
601 to 650299 59,139 198 13.7 %
651 to 700754 118,150 157 27.4 %
701 to 750914 140,720 154 32.6 %
751 to 800632 85,479 135 19.8 %
801 to 85086 9,548 111 2.2 %
Not available49 25 0.0 %
Total2,761 $431,970 $179 100.0 %
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Distribution by Primary Collateral Type
June 30, 2022
Collateral Type# of Loans BalanceAverage Balance% of Balance
Commercial Real Estate1,039 $226,885 $218 48.1 %
Machinery and Equipment460 81,357 177 17.3 %
Residential Real Estate877 69,962 80 14.9 %
Accts Receivable and Inventory367 59,103 161 12.6 %
Other98 25,782 263 5.5 %
Unsecured227 4,296 19 0.9 %
Furniture and Fixtures34 2,133 63 0.5 %
Liquid Assets13 878 68 0.2 %
Total3,115 $470,396 $151 100.0 %
December 31, 2021
Collateral Type# of LoansBalanceAverage Balance% of Balance
Commercial Real Estate1,016 $228,381 $225 53.0 %
Machinery and Equipment430 73,433 171 17.0 %
Accounts Receivable and Inventory312 50,692 162 11.7 %
Residential Real Estate707 47,240 67 10.9 %
Other93 26,509 285 6.1 %
Unsecured161 2,984 19 0.7 %
Furniture and Fixtures28 1,797 64 0.4 %
Liquid Assets14 936 67 0.2 %
Total2,761 $431,970 $156 100.0 %
Distribution by Days Delinquent
June 30, 2022
Delinquency Status# of Loans BalanceAverage Balance% of Balance
Accrual
     Current2,890 $408,129 $141 86.7 %
     31 to 60 days35 11,694 — 2.5 %
     61 to 90 days— — — — %
     91 days or greater— — — — %
Non-accrual190 50,574 266 10.8 %
Total3,115 $470,397 $151 100.0 %
December 31, 2021
Delinquency Status# of LoansBalanceAverage Balance% of Balance
Accrual
     Current2,512 365,198 $145 84.6 %
     31 to 60 days59 12,646 214 2.9 %
     61 to 90 days— — — — %
     91 days or greater— — — — %
Non-accrual190 54,126 285 12.5 %
Total2,761 $431,970 $156 100.0 %

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Consolidated Results of Operations

As a BDC and a RIC, we are subject to certain constraints on our operations, including limitations imposed by the 1940 Act and the Code.
Comparison of the three months ended June 30, 2022 and 2021
Investment Income
(in thousands)Three Months Ended June 30, 2022Three Months Ended June 30, 2021Change
Investment income:
Interest income - PPP loans$— $25,512 $(25,512)
Interest income - SBA 7(a) loans8,702 6,824 1,878 
Interest income - non-control investments— 124 (124)
Dividend income4,981 72 4,909 
Servicing income3,175 2,787 388 
Other income2,368 1,269 1,099 
Total investment income$19,226 $36,588 $(17,362)

Interest Income
The Company began earning interest income from PPP loans in the second quarter of 2020 under the CARES Act. By July 2021, NSBF funded the balance of its PPP loans and therefore the Company did not earn any PPP interest income during 2022. NSBF redeployed the resources used to generate PPP loans to the origination of SBA 7(a) loans.
The increase in interest income on SBA 7(a) loans was attributable to an increase in the average outstanding performing portfolio of SBA non-affiliate investments to $502.2 million from $406.5 million for the three months ended June 30, 2022 and 2021, respectively. The increase in the average outstanding accrual portfolio resulted from the origination of new SBA non-affiliate investments period over period.
In September 2020, the Company purchased one loan from NBL, a wholly-owned controlled portfolio company and began recording unrealized results on non-control/non-affiliate investments. In November 2021, the Company sold the loan to NCL and therefore the Company does not have any unrealized results from non-control/non-affiliate investments during 2022.
Dividend Income

Dividend income was earned from the following portfolio companies for the three months ended June 30, 2022 and 2021:

(in thousands)Three Months Ended June 30, 2022Three Months Ended June 30, 2021Change
Newtek Merchant Solutions, LLC (NMS)$3,100 $— $3,100 
Mobil Money, LLC150 — 150 
Newtek Conventional Lending, LLC360 51 309 
Newtek Business Lending, LLC1,350 — 1,350 
EMCAP Loan Holdings, LLC21 21 — 
Total dividend income$4,981 $72 $4,909 
Dividend income is dependent on portfolio company earnings and portfolio company capital investment objectives and opportunities. Current quarter and historical dividend income may not be indicative of future period dividend income, particularly in light of the ongoing COVID-19 pandemic and current economic conditions. See “COVID-19 and Economic Developments.”
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NSBF Servicing Portfolio and Related Servicing Income
The following table represents the NSBF originated servicing portfolio and servicing income earned for the three months ended June 30, 2022 and 2021:
(in thousands):Three Months Ended June 30, 2022Three Months Ended June 30, 2021 Change
Total NSBF originated servicing portfolio$2,007,474 $1,768,292 $239,182 
Total average NSBF originated portfolio earning servicing income
$1,332,524 $1,122,511 $210,013 
Total servicing income earned$3,175 $2,787 $388 
The increase in servicing income is related to an increase in the total portfolio investments for which we earn servicing income period over period.

Other Income

Other income relates primarily to legal, packaging, prepayment, and late fees earned from SBA 7(a) loans. The increase was
related to an increase in legal, prepayment and packaging fees earned as a result of the higher volume of SBA 7(a) loans originated of $200.6 million compared to $94.3 million for the three months ended June 30, 2022 and 2021, respectively. As a result of the uncertain economic impact to U.S. small businesses at the onset of the COVID-19 pandemic, the Company temporarily shifted the focus of NSBF from originating SBA 7(a) loans to originating PPP loans in March 2020 through July 2021, when NSBF funded the balance of its PPP loans. NSBF has redeployed the resources used to generate PPP loans to the origination of SBA 7(a) loans.

Expenses:

(in thousands)Three Months Ended June 30, 2022Three Months Ended June 30, 2021Change
Salaries and benefits$4,499 $5,926 $(1,427)
Interest5,828 4,968 860 
Depreciation and amortization60 79 (19)
Professional fees1,512 859 653 
Origination and loan processing1,882 2,998 (1,116)
Origination and loan processing - related party5,239 4,510 729 
Other general and administrative costs2,043 1,706 337 
Total expenses$21,480 $21,046 $434 

Salaries and Benefits

The decrease in salaries and benefits was attributable to a decrease in salaries and bonuses and related accruals during the second quarter of 2022 as compared to 2021.
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Interest Expense
The following is a summary of interest expense by facility for the three months ended June 30, 2022 and 2021:
(in thousands)Three Months Ended June 30, 2022Three Months Ended June 30, 2021Change
Notes payable - Securitization Trusts$1,918 $1,307 $611 
Bank notes payable939 333 607 
2024 Notes606 1,200 (594)
2025 6.85% Notes149 286 (137)
2025 5.00% Notes375 — 375 
2026 Notes1,761 1,761 — 
Notes payable - related parties80 82 (2)
Total interest expense$5,828 $4,969 $859 

The increase in interest expense period over period is primarily from additional interest on the 2025 6.85% Notes of $0.4 million as well as additional interest expense on the Notes payable - Securitization Trusts and Bank notes payable related to an increase in the average outstanding balance and interest rates period over period. The increase was partially offset by the redemption of the 2025 6.85% Notes and partial redemption of the 2024 Notes, which resulted in a reduction of $0.1 million and $0.6 million of interest expense, respectively.

Professional Fees

The increase in professional fees period over period is attributable to fees related to the implementation of a new general ledger system as well as fees related to the Company's plan to reposition itself as a bank holding company.

Origination and Loan Processing

The change in origination and loan processing expenses was due to transferring from a third party to a related party service for underwriting, origination, closing and compliance fees related to SBA 7(a) loan fundings period over period.

Origination and Loan Processing - Related Party

The increase in related party origination and loan processing expenses was attributed to an increase in underwriting, origination, closing and compliance fees related to the increase in SBA 7(a) loan fundings period over period. NSBF has redeployed the resources used to generate PPP loans to the origination of SBA 7(a) loans.

Net Realized Gains and Net Unrealized Appreciation and Depreciation

Net realized gains (losses) from SBA non-affiliate investments for the three months ended June 30, 2022 and 2021 were a net realized gain of $19.9 million and net realized gain of $11.4 million, respectively. This included realized losses of $1.4 million and $2.7 million, respectively.

Net Realized Gains on SBA 7(a) Non-Affiliate Investments
 Three Months Ended
 June 30, 2022June 30, 2021
# of Debt Investments$ Amount
(in thousands)
# of Debt Investments$ Amount
(in thousands)
SBA non-affiliate investments originated during the quarter330 $200,563 128 $94,255 
SBA guaranteed non-affiliate investments sold during the quarter338 $190,487 142 $87,492 
Realized gains recognized on sale of SBA guaranteed non-affiliate investments— $21,275 — $14,081 
Average sale price as a percent of principal balance1
— 109.21 %— 114.00 %
(1) Realized gains greater than 110.00% must be split 50/50 with the SBA in accordance with SBA regulations. The realized gains recognized above reflects amounts net of split with the SBA.
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As a result of the uncertain economic impact to U.S. small businesses created by the COVID-19 pandemic, the Company’s Executive Committee and Lending Team temporarily shifted the focus of NSBF from originating SBA 7(a) loans to originating PPP loans in March 2020, resulting in a higher volume of SBA 7(a) loans for the three months ended June 30, 2022 compared to 2021 as NSBF has redeployed resources used to generate PPP loans to the origination of SBA 7(a) loans.

For the three months ended June 30, 2022, the average sale price as a percent of principal balance was 109.21% compared to 114.00% for the prior period. The decrease reflects the lagging prime rate adjustments and the quarterly reset of interest rates on our loan portfolio.

Net Unrealized Appreciation (Depreciation)
(in thousands)Three Months Ended June 30, 2022Three Months Ended June 30, 2021Change
Net unrealized depreciation on SBA guaranteed non-affiliate investments$(4,917)$(1,983)$(2,934)
Net unrealized (depreciation) appreciation on SBA unguaranteed non-affiliate investments(872)198 (1,070)
Net unrealized appreciation (depreciation) on controlled investments1,566 (7,920)9,486 
Change in deferred taxes886 1,356 (470)
Net unrealized depreciation on non-control investments— (3)
Net unrealized depreciation on servicing assets(781)(1,193)412 
Net unrealized depreciation on derivative instruments— (37)37 
Total net unrealized depreciation$(4,118)$(9,582)$5,464 

Net unrealized appreciation (depreciation) on SBA guaranteed non-affiliate investments relates to guaranteed portions of SBA debt investments made which the Company sells into a secondary market. Unrealized appreciation (depreciation) of SBA guaranteed investments represents the fair value adjustment of guaranteed portions of loans which have not yet been sold. Unrealized depreciation represents the reversal of unrealized appreciation when the SBA 7(a) loans are sold. The amount of the unrealized appreciation (depreciation) is determined by the quantity of guaranteed loans held for sale at quarter end as well as the change in secondary market pricing conditions. During the quarter ended June 30, 2022, there was a reduction in the gain-on-sale pricing as compared to the prior period.

The net unrealized depreciation on SBA unguaranteed non-affiliate investments was driven primarily by an increase in the discount rate valuation assumption year over year. See “COVID-19 and Economic Developments” for additional information.
In September 2020, the Company purchased one loan from NBL, a wholly-owned controlled portfolio company and began recording unrealized results on non-control/non-affiliate investments. In November 2021, the Company sold the loan to NCL and therefore the Company does not have any unrealized results from non-control/non-affiliate investments during 2022.

Unrealized depreciation on servicing assets relates to the amortization of the Company’s servicing assets. The decrease in unrealized depreciation is due to an increase in the assumed prepayment rate from 22% as of June 30, 2021 to 25% as of June 30, 2022.

The net unrealized depreciation on derivative instruments is attributable to interest rate movement on interest rate futures contracts. The Company does not hold any derivative instruments as of June 30, 2022 and therefore the Company does not have any unrealized depreciation on derivative instruments for the period.

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Net Unrealized Appreciation (Depreciation) on Controlled Investments

Unrealized appreciation (depreciation) was derived from the following portfolio companies for the three months ended June 30, 2022 and 2021:
(in thousands)Three Months Ended June 30, 2022Three Months Ended June 30, 2021Change
Newtek Merchant Solutions, LLC (NMS)$(1,000)$— $(1,000)
Mobil Money, LLC2,500 — 2,500 
Newtek Technology Solutions, Inc.(1,900)— (1,900)
CDS Business Services, Inc. (369)(3,000)2,631 
PMTWorks Payroll, LLC (85)— (85)
Small Business Lending, LLC (1,265)(5,348)4,083 
Newtek Business Lending, LLC4,000 — 4,000 
Newtek Conventional Lending, LLC(12)424 (436)
Titanium Asset Management LLC(303)(307)
Total net unrealized appreciation (depreciation) on controlled investments$1,566 $(7,920)$9,486 


Provision for Deferred Taxes on Unrealized Appreciation of Investments

Certain consolidated subsidiaries of ours are subject to U.S. federal and state income taxes. These taxable subsidiaries are not consolidated with the Company for income tax purposes, but are consolidated for GAAP purposes, and may generate income tax liabilities or assets from temporary differences in the recognition of items for financial reporting and income tax purposes at the subsidiaries. During the three months ended June 30, 2022 and 2021, we recognized a provision for deferred taxes of $0.9 million and $1.36 million, respectively, related to the net unrealized appreciation and depreciation of controlled portfolio company investments.

Comparison of the six months ended June 30, 2022 and 2021
Investment Income
(in thousands)Six Months Ended June 30, 2022Six Months Ended June 30, 2021Change
Investment income:
Interest income - PPP loans$— $49,720 $(49,720)
Interest income - SBA 7(a) loans16,445 13,306 3,139 
Interest income - non-control investments— 248 (248)
Dividend income12,827 98 12,729 
Servicing income6,356 5,527 829 
Other income3,947 2,383 1,564 
Total investment income$39,575 $71,282 $(31,707)
Interest Income
The Company began earning interest income from PPP loans in the second quarter of 2020 under the CARES Act. By July 2021, NSBF funded the balance of its PPP loans and therefore the Company did not earn any PPP interest income during 2022. NSBF redeployed the resources used to generate PPP loans to the origination of SBA 7(a) loans.
The increase in interest income from SBA 7(a) loans was attributable to the average outstanding accrual portfolio of SBA non-affiliate investments increasing to $479.1 million from $400.7 million for the six months ended June 30, 2022 and 2021, respectively. The increase in the average outstanding accrual portfolio resulted from the origination of new SBA non-affiliate investments period over period.
In September 2020, the Company purchased one loan from NBL, a wholly-owned controlled portfolio company and began
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earning interest income from non-control investments. In November 2021, the Company sold the loan to NCL and therefore the Company did not earn any interest income from non-control investments during 2022.
Dividend Income

Dividend income was earned from the following portfolio companies for the six months ended June 30, 2022 and 2021:
(in thousands)Six Months Ended June 30, 2022Six Months Ended June 30, 2021Change
Newtek Merchant Solutions, LLC (NMS)$7,600 $— $7,600 
Newtek Technology Solutions, Inc.1,500 — 1,500 
Mobil Money, LLC150 — 150 
Newtek Conventional Lending, LLC1,659 51 1,608 
Newtek Business Lending, LLC1,875 — 1,875 
EMCAP Loan Holdings, LLC43 47 (4)
Total dividend income$12,827 $98 $12,729 

Dividend income is dependent on portfolio company earnings and portfolio company capital investment objectives and opportunities. Current year and historical dividend income may not be indicative of future period dividend income, particularly in light of the ongoing COVID-19 pandemic and current economic conditions. See “COVID-19 and Economic Developments.”
NSBF Servicing Portfolio and Related Servicing Income
The following table represents the NSBF originated servicing portfolio and servicing income earned for the six months ended June 30, 2022 and 2021:
(in thousands):Six Months Ended June 30, 2022Six Months Ended June 30, 2021 Change
Total NSBF originated servicing portfolio$2,007,474 $1,768,292 $239,182 
Total average NSBF originated portfolio earning servicing income
$1,307,514 $1,112,818 $194,696 
Total servicing income earned$6,356 $5,527 $829 
The increase in servicing income related to an increase in the total portfolio investments for which we earn servicing income period over period.

Other Income

Other income relates primarily to legal, packaging, prepayment, and late fees earned from SBA 7(a) loans. The increase was
related to an increase in legal, prepayment and packaging fees earned as a result of the higher volume of SBA 7(a) loans originated of $363.9 million compared to $198.6 million for the six months ended June 30, 2022 and 2021, respectively. As a result of the uncertain economic impact to U.S. small businesses at the onset of the COVID-19 pandemic, the Company temporarily shifted the focus of NSBF from originating SBA 7(a) loans to originating PPP loans in March 2020. NSBF funded the balance of its PPP loans by July 2021 and redeployed the resources used to generate PPP loans to the origination of SBA 7(a) loans.
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Expenses:
(in thousands)Six Months Ended
June 30, 2022
Six Months Ended
June 30, 2021
Change
Salaries and benefits$9,608 $10,376 $(768)
Interest10,495 10,040 455 
Depreciation and amortization123 164 (41)
Professional fees2,813 2,047 766 
Origination and loan processing4,336 5,969 (1,633)
Origination and loan processing - related party9,268 7,653 1,615 
Loss on extinguishment of debt417 955 (538)
Other general and administrative costs3,796 3,341 455 
Total expenses$40,856 $40,545 $311 

Salaries and Benefits

The decrease in salaries and benefits was attributable to a decrease in salaries and bonuses and related accruals period over period.

Interest Expense
The following is a summary of interest expense by facility for the six months ended June 30, 2022 and 2021:
(in thousands)Six Months Ended June 30, 2022Six Months Ended June 30, 2021Change
Notes payable - Securitization Trusts$3,408 $2,704 $704 
Bank notes payable1,364 656 708 
2023 Notes1
— 549 (549)
2024 Notes2
1,211 2,250 (1,039)
2025 6.85% Notes3
430 562 (132)
2025 5.00% Notes375 — 375 
2026 Notes3,521 3,153 368 
Notes payable - related parties186 166 20 
Total interest expense$10,495 $10,040 $455 
(1) On February 22, 2021, the Company redeemed all $57.5 million in aggregate principal amount of the 2023 Notes on the redemption date at 100% of their principal amount ($25 per Note), plus the accrued and unpaid interest thereon from December 31, 2020 through, but excluding, the redemption date.
(2) On December 29, 2021, the Company partially redeemed $40.0 million in aggregate principal amount of the $78.25 million principal amount of 2024 Notes outstanding at 100% of their principal amount ($25 per Note), plus the accrued and unpaid interest thereon from November 1, 2021 through, but excluding, the redemption date.
(3) On May 2, 2022, the Company redeemed all $15.0 million in aggregate principal amount of the 2025 6.85% Notes at 100% of their principal amount ($25 per Note), plus the accrued and unpaid interest thereon from February 28, 2022 through, but excluding, the redemption date.

The increase in interest expense period over period is primarily from additional interest expense on the 2026 Notes of $0.4 million and 2025 5.00% Notes of $0.4 million. In addition, there was additional interest expense on the Notes payable - Securitization Trusts, Bank notes payable, and Notes payable - related parties related to an increase in the average outstanding balance and interest rates period over period. The increase was partially offset by the redemption of the 2023 Notes, 2025 6.85% Notes, and partial redemption of the 2024 Notes, which resulted in a reduction of $0.5 million, $0.1 million and $1.0 million of interest expense, respectively.

Professional Fees

The increase in professional fees period over period is attributable to fees related to the implementation of a new general ledger system as well as fees related to the Company's plan to reposition itself as a bank holding company.
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Origination and Loan Processing

The change in origination and loan processing expenses was due to transferring from a third party to a related party service for underwriting, origination, closing and compliance fees related to SBA 7(a) loan fundings period over period.

Loss on extinguishment of debt

On February 22, 2021, the Company redeemed all $57.5 million in aggregate principal amount of the 2023 Notes. As a result of the redemption of the 2023 Notes, the Company recorded a $1.0 million loss on extinguishment of debt during the six months ended June 30, 2021, equivalent to the balance of unamortized deferred financing costs as of the redemption date.

On May 2022, the Company redeemed the remaining $15.0 million in aggregate principal amount of the 2025 6.85% Notes and as a result, the Company recorded a $0.4 million loss on extinguishment of debt during the six months ended June 30, 2022, equivalent to the balance of unamortized deferred financing costs as of the redemption date.
Net Realized Gains and Net Unrealized Appreciation (Depreciation)

Net realized gains from SBA non-affiliate investments for the six months ended June 30, 2022 and 2021 were $35.2 million and $18.8 million, respectively, which included realized losses of $3.3 million and $4.1 million, respectively.

Net Realized Gains on SBA Non-Affiliate Investments
 Six Months Ended
 June 30, 2022June 30, 2021
# of Debt Investments$ Amount
(in thousands)
# of Debt Investments$ Amount
(in thousands)
SBA non-affiliate investments originated576 $363,904 281 $198,633 
SBA guaranteed non-affiliate investments sold559 $313,205 249 $144,465 
Realized gains recognized on sale of SBA guaranteed non-affiliate investments— $38,457 — $22,939 
Average sale price as a percent of principal balance1
— 110.32 %— 113.71 %
(1) Realized gains greater than 110.00% must be split 50/50 with the SBA in accordance with SBA regulations. The realized gains recognized above reflects amounts net of split with the SBA.

As a result of the uncertain economic impact to U.S. small businesses at the onset of the COVID-19 pandemic, the Company’s Executive Committee and Lending Team temporarily shifted the focus of NSBF from originating SBA 7(a) loans to originating PPP loans in March 2020 through July 2021, resulting in a higher volume of SBA 7(a) loans for the six months ended June 30, 2022 compared to 2021. NSBF redeployed the resources used to generate PPP loans to the origination of SBA 7(a) loans in 2021.

For the six months ended June 30, 2022, the average sale price as a percent of principal balance was 110.32% compared to 113.71% for the prior period. The decrease reflects the lagging prime rate adjustments and the quarterly reset of interest rates on our loan portfolio.

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Net Unrealized Appreciation (Depreciation)
(in thousands)Six Months Ended June 30, 2022Six Months Ended June 30, 2021Change
Net unrealized (depreciation) appreciation on SBA guaranteed non-affiliate investments$(5,645)$2,410 $(8,055)
Net unrealized (depreciation) appreciation on SBA unguaranteed non-affiliate investments(2,862)1,585 (4,447)
Net unrealized depreciation on controlled investments(458)(5,545)5,087 
Change in deferred taxes(57)723 (780)
Net unrealized appreciation on non-control investments— 524 (524)
Net unrealized depreciation on servicing assets(2,340)(1,706)(634)
Net unrealized appreciation (depreciation) on derivative transactions183 (37)220 
Total net unrealized depreciation$(11,179)$(2,046)$(9,133)

Net unrealized appreciation (depreciation) on SBA guaranteed non-affiliate investments relates to guaranteed portions of SBA debt investments made which the Company sells into a secondary market. Unrealized appreciation of SBA guaranteed investments represents the fair value adjustment of guaranteed portions of loans which have not yet been sold. Unrealized depreciation represents the reversal of unrealized appreciation when the guaranteed portions of the SBA 7(a) loans are sold. The amount of the unrealized appreciation (depreciation) is determined by the quantity of guaranteed loans held for sale at quarter end as well as the change in secondary market pricing conditions. During the six months ended June 30, 2022, there was a reduction in the gain-on-sale pricing as compared to the prior period.

Unrealized depreciation on servicing assets relates to the amortization of the Company’s servicing assets. The increase in unrealized depreciation is due to the increase in the total portfolio of investments for which we earn servicing income period over period.
In September 2020, the Company purchased one loan from NBL, a wholly-owned controlled portfolio company and began recording unrealized results on non-control/non-affiliate investments. In November 2021, the Company sold the loan to NCL and therefore the Company does not have any unrealized results from non-control/non-affiliate investments during 2022.

The net unrealized appreciation on derivative instruments is attributable to interest rate movement on interest rate futures contracts.

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Net Unrealized Appreciation (Depreciation) on Controlled Investments

Unrealized appreciation (depreciation) was derived from the following portfolio companies for the six months ended June 30, 2022 and 2021:
(in thousands)Six Months Ended June 30, 2022Six Months Ended June 30, 2021Change
Newtek Merchant Solutions, LLC (NMS)$(1,000)$— $(1,000)
Newtek Technology Solutions, Inc. (NTS)(3,400)1,500 (4,900)
CDS Business Services, Inc. (1,058)(3,000)1,942 
PMTWorks Payroll, LLC 600 — 600 
Small Business Lending, LLC (1,265)(5,650)4,385 
Newtek Insurance Agency, LLC1,200 — 1,200 
Newtek Business Lending, LLC4,000 1,370 2,630 
Newtek Conventional Lending, LLC(2,333)231 (2,564)
Titanium Asset Management LLC(302)(306)
Mobil Money, LLC3,100 — 3,100 
Total net unrealized depreciation on controlled investments$(458)$(5,545)$5,087 

Provision for Deferred Taxes on Unrealized Appreciation of Investments

Certain consolidated subsidiaries of ours are subject to U.S. federal and state income taxes. These taxable subsidiaries are not consolidated with the Company for income tax purposes, but are consolidated for GAAP purposes, and may generate income tax liabilities or assets from temporary differences in the recognition of items for financial reporting and income tax purposes at the subsidiaries. During the six months ended June 30, 2022 and 2021, we recognized a provision for deferred taxes of $0.1 million and $0.7 million related to the net unrealized (depreciation) appreciation of controlled portfolio company investments, respectively.

Liquidity and Capital Resources
Overview

Our liquidity and capital resources are derived from our Capital One Facility, Notes payable - related parties, 2024 Notes, 2025 5.00% Notes, 2026 Notes, securitization transactions and cash flows from operations, including investment sales and repayments, and income earned. Our primary use of funds from operations includes investments in portfolio companies and payments of fees and other operating expenses we incur. We have used, and expect to continue to use, our borrowings and the proceeds from the turnover of our portfolio and from public and private offerings of securities to finance our investment objectives. We may raise additional equity or debt capital through both registered offerings off a shelf registration, including “at-the-market”, or ATM, and private offerings of securities. On July 26, 2018, our shareholders approved the application of the modified asset coverage requirement as set forth in Section 61(a)(2) of the 1940 Act. As a result, our minimum required asset coverage ratio decreased from 200% to 150%, effective July 27, 2018. As of June 30, 2022, our asset coverage was 176% based on $518.4 million of aggregate principal amount of senior securities outstanding.

Public Offerings

ATM Program

On July 10, 2019, the Company entered into the 2019 ATM Equity Distribution Agreement, as amended on February 28, 2020. The Amended 2019 ATM Equity Distribution Agreement provided that the Company may offer and sell up to 3,000,000 shares of common stock from time to time through the placement agents. From inception through June 24, 2020, we sold 1,716,517 shares of our common stock at a weighted average price of $21.88 per share. Proceeds, net of offering costs and expenses were $37.6 million. On June 24, 2020, the Company terminated the Amended 2019 ATM Equity Distribution Agreement. The Company paid the ATM placement agents $0.8 million in compensation.

We used the net proceeds for funding investments in debt and equity securities in accordance with our investment objective and strategies and for general corporate purposes including funding investments, repaying outstanding indebtedness and other general corporate purposes.
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On June 25, 2020, the Company entered into the 2020 ATM Equity Distribution Agreement. From inception through June 30, 2022, we sold 2,962,339 shares of our common stock at a weighted average price of $23.16 per share. Proceeds, net of offering costs and expenses were $68.6 million. The Company paid the placement agents $1.4 million in compensation. As of June 30, 2022, there were 37,661 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement. On July 20, 2022, the Company entered into Amendment No. 1 to the 2020 ATM Equity Distribution Agreement. The 2020 ATM Equity Distribution Agreement, as amended, provides that the Company may offer and sell up to 6,400,000 shares of common stock from time to time through the placement agents. As of August 5, 2022, there were 3,437,661 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement.

Debt Offerings

In January 2021, the Company and the Trustee entered into the Seventh Supplemental Indenture to the Base Indenture between the Company and the Trustee, relating to the Company’s issuance, offer and sale of $115.0 million aggregate principal amount of 5.50% 2026 Notes, including $15.0 million in aggregate principal amount sold pursuant to a fully-exercised overallotment option. The sale of the 2026 Notes generated proceeds of approximately $111.3 million, net of underwriter's fees and expenses. The 2026 Notes are the Company’s direct unsecured obligations and rank: (i) pari passu with the Company’s other outstanding and future unsecured indebtedness; (ii) senior to any of the Company’s future indebtedness that expressly provides it is subordinated to the 2026 Notes; (iii) effectively subordinated to all the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the Company subsequently grants security), to the extent of the value of the assets securing such indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries.

The 2026 Notes will mature on February 1, 2026 and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after February 1, 2022, upon not less than 30 days nor more than 60 days written notice by mail prior to the date fixed for redemption thereof, at a redemption price equal to the following amounts, plus accrued and unpaid interest to, but excluding, the redemption date: (1) 100% of the principal amount of the 2026 Notes to be redeemed plus (2) the sum of the present value of the scheduled payments of interest (exclusive of accrued and unpaid interest to the date of redemption) on the 2026 Notes to be redeemed from the redemption date until February 1, 2023, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using the applicable Treasury Rate plus 50 basis points; provided, however, that if the Company redeems any 2026 Notes on or after February 1, 2023 (the date falling three years prior to the maturity date of the 2026 Notes), the redemption price for the 2026 Notes will be equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. The 2026 Notes bear interest at a rate of 5.50% per year payable quarterly on February 1, May 1, August 1 and November 1 of each year, commencing on May 1, 2021, and trade on the Nasdaq Global Market under the trading symbol “NEWTZ.” At June 30, 2022, the Company was in compliance with all covenants related to the 2026 Notes.

On November 27, 2020, the Company and Trustee entered into the Fifth Supplemental Indenture to the Base Indenture between the Company and the Trustee, relating to the issuance, offer and sale of $5.0 million aggregate principal amount of its 2025 6.85% Notes. The offering was consummated pursuant to the terms of a purchase agreement among the Company and an accredited investor, which provided for the 2025 6.85% Notes to be issued to the purchaser in a private placement in reliance on Section 4(a)(2) of the Securities Act. The net proceeds from the sale of the notes were approximately $4.8 million, after deducting structuring fees and estimated offering expenses, each payable by the Company. The Company exercised its option to issue up to $10.0 million of additional 2025 6.85% Notes to the purchaser, and issued $10.0 million in additional 2025 6.85% Notes to the purchaser in an exempt offering in January 2021.

On March 31, 2022, the Company caused notices to be issued to the holder of its 2025 6.85% Notes regarding the Company’s exercise of its option to redeem all $15.0 million in aggregate principal amount of the Notes on May 2, 2022. The Notes were redeemed on May 2, 2022 100% of their principal amount ($25 per Note), plus the accrued and unpaid interest thereon from February 28, 2022 through, but excluding, May 2, 2022.

On March 31, 2022, the Company completed a private placement of $15.0 million aggregate principal amount of its 5.00% notes due 2025 (2025 5.00% Notes). The offering was consummated pursuant to the terms of a purchase agreement dated March 31, 2022 among the Company and an accredited investor, which provided for the 2025 5.00% Notes to be issued to the purchaser in a transaction that relied on Section 4(a)(2) of the Securities Act to be exempt from registration under the Securities Act. The net proceeds from the sale of the notes were approximately $14.5 million, after deducting structuring fees and estimated offering expenses, each payable by the Company. The Company intends to use the net proceeds from the sale of the notes to fund investments in debt and equity in accordance with its investment objectives and strategies. The 2025 5.00% Notes are the Company’s direct unsecured obligations and rank: (i) pari passu with the Company’s other outstanding and future unsecured indebtedness; (ii) senior to any of the Company’s future indebtedness that expressly provides it is subordinated to the
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2025 5.00% Notes; (iii) effectively subordinated to all the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the Company subsequently grants security), to the extent of the value of the assets securing such indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries. Under the purchase agreement, the Company also issued an additional $15.0 million in aggregate principal amount of the 2025 5.0% Notes to the purchaser on May 2, 2022. The 2025 5.00% Notes were issued under the Base Indenture and the Tenth Supplemental Indenture, dated as of March 31, 2022. The 2025 5.00% Notes will mature on March 31, 2025, and under the terms of the Indenture, the Notes are redeemable at any time, at the option of the Company, at a redemption price of 100% of the outstanding principal amount thereof. The Tenth Supplemental Indenture contains certain covenants, including covenants requiring the Company to (i) comply with the asset coverage requirements of the 1940 Act as long as the Company remains subject to the provisions.

In July 2019, the Company and the Trustee entered into the Fourth Supplemental Indenture to the Base Indenture between the Company and the Trustee, relating to the Company’s issuance, offer and sale of $55.0 million aggregate principal amount of 5.75% 2024 Notes. The Company granted an overallotment option of up to $8.25 million in aggregate principal amount of the 2024 Notes. The sale of the 2024 Notes generated proceeds of approximately $53.2 million, net of underwriter's fees and expenses. In July 2019 the underwriters exercised their option to purchase $8.25 million in aggregate principal amount of 2024 Notes for an additional $8.0 million in net proceeds. The 2024 Notes are the Company’s direct unsecured obligations and rank: (i) pari passu with the Company’s other outstanding and future unsecured indebtedness; (ii) senior to any of the Company’s future indebtedness that expressly provides it is subordinated to the 2024 Notes; (iii) effectively subordinated to all the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the Company subsequently grants security), to the extent of the value of the assets securing such indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries.

The 2024 Notes will mature on August 1, 2024 and may be redeemed in whole or in part at the Company’s option at any time or from time to time on or after August 1, 2021, at a redemption price of 100% of the outstanding principal amount thereof plus accrued and unpaid interest payments otherwise payable for the then-current quarterly interest period accrued to but not including the date fixed for redemption. The 2024 Notes bear interest at a rate of 5.75% per year payable quarterly on February 1, May 1, August 1, and November 1 of each year, commencing on November 1, 2019, and trade on the Nasdaq Global Market under the trading symbol “NEWTL.” At June 30, 2022, the Company was in compliance with all covenants related to the 2024 Notes.

On February 16, 2021 and May 20, 2021, the Company issued an additional $5.0 million and $10.0 million in aggregate principal amount of its 2024 Notes, respectively. The new 2024 Notes are treated as a single series with the prior 2024 Notes and have the same terms as the prior 2024 Notes. The existing 2024 Notes have the same CUSIP number and are fungible and rank equally with the prior 2024 Notes.

On December 29, 2021, the Company redeemed $40.0 million in aggregate principal amount of the $78.25 million of principal amount of 2024 Notes outstanding at 100% of their principal amount ($25 per Note), plus the accrued and unpaid interest thereon from November 1, 2021 through, but excluding, the redemption date. As of December 31, 2021, the outstanding principal balance of the 2024 Notes was $78.25 million.

In February 2018, the Company and the Trustee entered into the Third Supplemental Indenture to the Base Indenture between the Company and the Trustee, relating to the Company’s issuance, offer and sale of $50.0 million aggregate principal amount of 6.25% 2023 Notes. The Company granted an overallotment option of up to $7.5 million in aggregate principal amount of the 2023 Notes. The sale of the Notes generated proceeds of approximately $47.9 million, net of underwriter's fees and expenses. In February 2018, the underwriters exercised their option to purchase $7.5 million in aggregate principal amount of notes for an additional $7.3 million in net proceeds. The 2023 Notes were the Company’s direct unsecured obligations and ranked: (i) pari passu with the Company’s other outstanding and future unsecured indebtedness; (ii) senior to any of the Company’s future indebtedness that expressly provides it is subordinated to the 2023 Notes; (iii) effectively subordinated to all the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the Company subsequently grants security), to the extent of the value of the assets securing such indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries.

The 2023 Notes were scheduled to mature on March 1, 2023 and could be redeemed in whole or in part at the Company’s option at any time or from time to time on or after March 1, 2020, at a redemption price of 100% of the outstanding principal amount thereof plus accrued and unpaid interest payments otherwise payable for the then-current quarterly interest period accrued to but not including the date fixed for redemption. The 2023 Notes bear interest at a rate of 6.25% per year payable quarterly on March 1, June 1, September 1, and December 1 of each year, commencing on June 1, 2018, and trade on the Nasdaq Global Market under the trading symbol “NEWTI.” On February 22, 2021, the Company used the proceeds from the
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issuance of the 2026 Notes to redeem all $57.5 million in aggregate principal amount of the 2023 Notes at 100% of their principal amount ($25 per Note), plus the accrued and unpaid interest thereon from December 1, 2020, through, but excluding, the redemption date.

The Base Indenture, and each supplemental indenture thereto, contains certain covenants. The Base Indenture provides for customary events of default and further provides that the Trustee or the holders of 25% in aggregate principal amount of the outstanding Notes may declare such Notes immediately due and payable upon the occurrence of any event of default after expiration of any applicable grace period. Each supplemental indenture (except for the Tenth Supplemental Indenture) includes covenants requiring the Company to comply with (regardless of whether it is subject to) the asset coverage requirements set forth in Section 18(a)(1)(A) of the 1940 Act as modified by Section 61(a) of the 1940 Act (or any successor provisions), to comply with (regardless of whether it is subject to) the restrictions on dividends, distributions and purchase of capital stock set forth in Section 18(a)(1)(B) of the 1940 Act as modified by Section 61(a) of the 1940 Act and to provide financial information to the holders of the Notes and the Trustee if the Company should no longer be subject to the reporting requirements under the Exchange Act. These covenants are subject to important limitations and exceptions that are described in the Base Indenture, as supplemented by each supplemental indenture thereto. At June 30, 2022, the Company was in compliance with all covenants related to the Notes.

Capital One Facilities
In May 2017, NSBF amended its Capital One facility to increase the facility from $50.0 million to $100.0 million and reduce the interest rate. The facility was amended again in June 2018 and the portion of the facility collateralized by the government guaranteed portion of SBA 7(a) loans, was reduced to Prime minus 0.75% (previously Prime minus 0.25%). The interest rate on the portion of the facility, collateralized by the non-guaranteed portion of SBA 7(a) loans, was reduced to Prime plus 0.25% (previously Prime plus 0.75%). The facility provides for a 55% advance rate on the non-guaranteed portions of the SBA 7(a) loans NSBF originates, and a 90% advance rate on the guaranteed portions of SBA 7(a) loans NSBF originates. In addition, the amendment extended the date on which the facility will convert to a term loan from May 16, 2017 to May 11, 2020 and extended the maturity date of the facility to May 11, 2022. In June 2019, the facility was increased from $100.0 million to $150.0 million. On May 7, 2020, NSBF amended its existing line of credit with Capital One to, among other things, extend the maturity date on which the credit facility will convert into a term loan for a period of three years to May 7, 2023, with the term loan maturing on May 7, 2025.

At June 30, 2022, there was $76.0 million and $51.4 million outstanding under the guaranteed and unguaranteed lines of credit, respectively. At June 30, 2022, we were in full compliance with all applicable loan covenants.
Notes Payable - Related Parties

In June 2015, the Company entered into the Related Party RLOC with certain controlled portfolio companies. Maximum borrowings under the Related Party RLOC were $38.0 million at an interest rate equal to 1 month LIBOR (with a floor of 0.50%) plus 6.0% or at a rate equal to the greater of the Prime Rate or 3.5% plus 5.0%. In June 2017, the Related Party RLOC was amended to increase maximum borrowings to $50.0 million. In November 2018, the Related Party RLOC was amended to reduce the interest rate to the lesser of 1 month LIBOR plus 2.5% or the Prime Rate plus 1.5%.

At June 30, 2022, the Related Party RLOC interest rate was 2.85%. The Related Party RLOC has a maturity date of November 8, 2023. At June 30, 2022, there was $0.2 million of outstanding borrowings due to NMS.

Securitization Transactions
Since 2010, NSBF has engaged in securitizations of the unguaranteed portions of its SBA 7(a) loans. In the securitization, it uses a special purpose entity (the “Trust”) which is considered a variable interest entity. Applying the consolidation requirements for VIEs under the accounting rules in ASC Topic 860, Transfers and Servicing, and ASC Topic 810, Consolidation, which became effective January 1, 2010, the Company determined that as the primary beneficiary of the securitization vehicle, based on its power to direct activities through its role as servicer for the Trust and its obligation to absorb losses and right to receive benefits, it needed to consolidate the Trusts. NSBF therefore consolidated the entity using the carrying amounts of the Trust’s assets and liabilities. NSBF reflects the assets in SBA Unguaranteed Non-Affiliate Investments and reflects the associated financing in Notes Payable - Securitization trusts on the Consolidated Statements of Assets and Liabilities.

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In December 2021, NSBF completed its eleventh securitization which resulted in the transfer of $103.4 million of unguaranteed portions of SBA loans to the 2021-1 Trust, The 2021-1 Trust in turn issued securitization notes for the par amount of $103.4 million, consisting of $79.7 million of Class A notes and $23.8 million Class B notes, against the 2021-1 Trust assets in a private placement. The Class A and Class B notes received an “A” and “BBB-” rating by S&P, respectively, and the final maturity date of the notes is December 2048. The Class A and Class B notes bear interest at an average rate of LIBOR plus 1.92% across both classes. Generally, in the event that the one-month LIBOR or Prime Rate becomes unavailable or otherwise unpublished, NSBF will select as a replacement a comparable alternative in accordance with the terms of the 2021-1 securitization transaction documents.

In October 2019, NSBF completed its tenth securitization which resulted in the transfer of $118.9 million of unguaranteed portions of SBA loans to the 2019-1 Trust, The 2019-1 Trust in turn issued securitization notes for the par amount of $118.9 million, consisting of $93.5 million of Class A notes and $25.4 million Class B notes, against the 2019-1 Trust assets in a private placement. The Class A and Class B notes received an “A” and “BBB-” rating by S&P, respectively, and the final maturity date of the notes is December 2044. The Class A and Class B notes bear interest at an average rate of LIBOR plus 1.83% across both classes. Generally, in the event that the one-month LIBOR or Prime Rate becomes unavailable or otherwise unpublished, NSBF will select as a replacement a comparable alternative in accordance with the terms of the 2019-1 securitization transaction documents.

In November 2018, NSBF completed its ninth securitization which resulted in the transfer of $108.6 million of unguaranteed portions of SBA loans to the 2018-1 Trust. The 2018-1 Trust in turn issued securitization notes for the par amount of $108.6 million, consisting of $82.9 million Class A notes and $25.7 million of Class B notes, against the assets in a private placement. The Class A and Class B notes received an “A” and “BBB-” rating by S&P, respectively, and the final maturity date of the notes is February 2044. Generally, in the event that the one-month LIBOR or Prime Rate becomes unavailable or otherwise unpublished, NSBF will select as a replacement a comparable alternative index over which it has no direct control and which is readily verifiable, in accordance with the terms of the 2018-1 securitization transaction documents.

In December 2017, NSBF completed its eighth securitization which resulted in the transfer of $76.2 million of unguaranteed portions of SBA loans to the 2017-1 Trust. The 2017-1 Trust in turn issued securitization notes for the par amount of $75.4 million, consisting of $58.1 million Class A notes and $17.3 million of Class B notes, against the assets in a private placement. The Class A and Class B notes received an “A” and “BBB-” rating by S&P, respectively, and the final maturity date of the notes is February 2043. The Class A and Class B notes bear interest at a rate of 1 month LIBOR plus 2.0% and 3.0%, respectively. Generally, in the event that the one-month LIBOR or Prime Rate becomes unavailable or otherwise unpublished, NSBF will select as a replacement a comparable alternative index over which it has no direct control and which is readily verifiable, in accordance with the terms of the 2017-1 securitization transaction documents.

In November 2016, NSBF completed its seventh securitization which resulted in the transfer of $56.1 million of unguaranteed portions of SBA loans to the 2016-1 Trust. The 2016-1 Trust in turn issued securitization notes for the par amount of $53.4 million, consisting of $43.6 million Class A notes and $9.8 million of Class B notes, against the assets in a private placement. The Class A and Class B notes received an “A” and “BBB+” rating by S&P, respectively, and the final maturity date of the notes is February 2042. The Class A and Class B notes bear interest at an average rate of 1 month LIBOR plus 3.0% and 4.25%, respectively. Generally, in the event that the one-month LIBOR or Prime Rate becomes unavailable or otherwise unpublished, NSBF will select as a replacement a comparable alternative index over which it has no direct control and which is readily verifiable, in accordance with the terms of the 2016-1 securitization transaction documents.

PPP Loan Participations

Beginning in April 2020, NSBF engaged in the origination of PPP loans. To facilitate NSBF’s involvement as a lender in the PPP, during the second quarter of 2020, NSBF entered into PPP loan participation agreements where NSBF originated PPP loans and sold 90% participating interests to the Participants. The participations were sold at par due to the short term maturity of the loans. NSBF and the Participants share proportionally in all interest and principal payments made on the loans. Subsequently, UBS, Stifel and Amalgamated amended their participation agreements with NSBF to allow the banks purchase up to 100% participation interests in certain of the PPP loans originated by NSBF. In connection with the amendments, UBS, Stifel, and Amalgamated purchased the remaining 10% participation interests in their participation loans, bringing their participation interests to 100%, while Morgan Stanley continues to hold 90% participation interests as of June 30, 2022. NSBF continues to hold the PPP loan notes and the PPP loan documents in order to service the loans and facilitate the PPP loan forgiveness process. The servicing liability in connection with the PPP loans was deemed immaterial. PPP loan origination fees are recognized as interest income on sale of PPP loan participations.

A transfer of financial assets must meet the sale criteria under the accounting rules in ASC Topic 860, Transfers and Servicing, in order to be considered a sale instead of a secured borrowing. The Company determined that the sale criteria are met and the
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Participants’ interests in the PPP loans are not held on the Company’s consolidated balance sheets. As stated in the PPP loan participation agreements, the intention of the parties is for the participation agreements to be absolute and true sales and not secured borrowings. In accordance with the terms of the PPP loan participation agreements and SBA regulations and guidance, NSBF, as the originating lender, retains all servicing rights and is the party responsible to the SBA with respect to all servicing actions, including requests for advance purchases and loan forgiveness, and will be the party eligible for the guarantee purchase of the PPP loan. For the 100% participations, the entire financial asset is considered to have been sold since a 100% ownership interest in the underlying asset’s cash flows has been sold to a third party and only the servicing rights remain with NSBF. For the 90% participations, the transfers met all the conditions of a participating interest as defined by ASC 860 to potentially qualify for sale accounting including (i) there is a proportionate ownership interest in an entire financial asset, (ii) all cash flows are divided proportionately among the participants, (iii) the parties’ rights are parri passu, and (iv) no party has the right to pledge or exchange the entire PPP loan unless all participating interest holders agree. The Company obtained true sale opinions and concluded that legal isolation is met under ASC 860-10-45-5a. As required under ASC 860 for sale accounting, the Company does not have an option or obligation to reacquire the assets, except for standard representations and warranties, such as in the event of fraud, gross negligence, or willful misconduct on the part of the Company, or failure to meet the ongoing contractual obligations to service the PPP loans. Owners of participations in PPP loans also have credit protection in the form of a 100% irrevocable government guarantee.

Congress enacted the Economic Aid Act on December 27, 2020, which, among other things, provided funding for PPP loans. On March 25, 2021, Congress passed the PPP Extension Act of 2021, which extended the PPP through May 31, 2021. During the duration of the PPP through the end of July 2021, NSBF funded approximately 26,200 PPP loans totaling $1.9 billion. For more information, see “Management’s Discussion and Analysis of Financial Conditions and Results of Operations - Executive Summary.” NSBF has redeployed the resources used to generate PPP loans to the origination of SBA 7(a) loans.

Cash Flows and Liquidity
As of June 30, 2022, the Company’s unused sources of liquidity consisted of $27.9 million available through the Capital One facility; $19.6 million available through notes payable with related parties; and $4.2 million in unrestricted cash.

Restricted cash of $121.9 million as of June 30, 2022 is primarily held by NSBF. The majority, or $121.1 million of restricted cash includes reserves in the event payments are insufficient to cover interest and/or principal with respect to securitizations and loan principal and interest collected which are due to loan participants.

The Company generated and used cash as follows:
(in thousands)Six Months Ended June 30, 2022Six Months Ended June 30, 2021
Net cash provided by (used in) operating activities$(65,181)$122,309 
Net cash used in investing activities(11)— 
Net cash provided by (used in) financing activities4,358 (25,171)
Net (decrease) increase in cash and restricted cash(60,834)97,138 
Cash and restricted cash, beginning of period186,860 51,425 
Cash and restricted cash, end of period$126,026 $148,563 
During the six months ended June 30, 2022, operating activities used cash of $65.2 million, consisting primarily of (i) $363.9 million of SBA 7(a) loan investments funded; (ii) $19.8 million of investments in controlled portfolio companies; (iii) a $63.2 million decrease in due to participants which arises when loan payments are received in the current period but not processed in time to have funds remitted to the participant during the current period; the amount varies depending on payment volume and timing at quarter end; and (iv) a $34.2 million increase in broker receivables which arise from the guaranteed portions of SBA 7(a) loans that were traded in the period but did not settle during the current period end and the cash was not received from the purchasing broker during the current period; the amount varies depending on loan origination volume and timing of sales at quarter end. These uses of cash were offset by (i) $345.5 million of proceeds from the sale of SBA 7(a) guaranteed loan investments and (ii) $47.5 million of principal payments received from SBA non-affiliate investments.
Net cash provided by financing activities was $4.4 million consisting primarily of and (i) $77.4 million of net borrowings under our bank notes payable and (ii) $30.0 million of issuances of the 2025 5.0% Notes. These sources of cash were offset by (i) $42.2 million of principal payments related to securitization notes payable, (ii) a redemption of $15.0 million of the 2025 6.85% Notes, (iii) net repayments under the Related Party RLOC of $11.3 million and (iv) $33.0 million of dividend payments.
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Contractual Obligations
The following table represents the Company’s obligations and commitments as of June 30, 2022:
(in thousands)Payments due by period
Contractual ObligationsTotal20222023202420252026Thereafter
Bank notes payable $127,414 $— $127,414 $— $— $— 
Securitization notes payable1
207,582 — — — — — 207,582 
2024 Notes1
38,250 — — 38,250 — — — 
2025 Notes1
30,000 — — — 30,000 — — 
2026 Notes1
115,000 — — — — 115,000 — 
Employment agreements1,621 1,204 417 — — — — 
Operating leases9,272 944 1,928 1,981 2,035 1,915 469 
Totals$529,339 $2,148 $129,959 $40,231 $32,035 $116,915 $208,051 
(1) Amounts represent principal only and are not shown net of unamortized debt issuance costs. See NOTE 7—BORROWINGS.

Critical Accounting Policies and Estimates

The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the periods reported. Actual results could materially differ from those estimates. We have identified the following items as critical accounting policies.
Fair Value Measurements

We value investments for which market quotations are readily available at their market quotations. However, a readily available market value is not expected to exist for many of the investments in our portfolio, and we value these portfolio investments at fair value as determined in good faith by our Board under our valuation policy and process. We may seek pricing information with respect to certain of our investments from pricing services or brokers or dealers in order to value such investments. We also employ independent third party valuation firms for certain of our investments for which there is not a readily available market value. 

The application of our valuation methods may include comparisons of the portfolio companies to peer companies that are public, the enterprise value of a portfolio company, the nature and realizable value of any collateral, the portfolio company’s ability to make payments and its earnings, discounted cash flow, the markets in which the portfolio company does business and other relevant factors. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, we will consider the pricing indicated by the external event to corroborate the private equity valuation. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the investments may differ significantly from the values that would have been used had a readily available market value existed for such investments and may differ materially from values that may ultimately be received or settled.

Our Board is ultimately and solely responsible for determining, in good faith, the fair value of investments that are not publicly traded, whose market prices are not readily available on a quarterly basis or any other situation where portfolio investments require a fair value determination.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels for disclosure purposes. The Company carries all investments at fair value. Additionally, the Company carries its servicing assets at fair value. The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets for identical assets or liabilities and gives the lowest priority to unobservable inputs (Level 3). An asset or liability’s classification within the fair value hierarchy is based on the lowest level of the significant input to its valuation. The levels of the fair value hierarchy are as follows:
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Level 1
Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as certain U.S. Treasury, other U.S. Government and agency mortgage-backed debt securities that are highly liquid and are actively traded in over-the-counter markets.
Level 2Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes certain U.S. Government and agency mortgage-backed debt securities, corporate debt securities, derivative contracts and residential mortgage loans held-for-sale.
Level 3Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category generally includes certain private equity investments, retained residual interests in securitizations, residential mortgage servicing rights, and highly structured or long-term derivative contracts.

In December 2020, Rule 2a-5 under the 1940 Act was adopted by the SEC and establishes requirements for determining fair value in good faith for purposes of the 1940 Act. We are evaluating the impact of adopting Rule 2a-5 on the consolidated financial statements and intend to comply with the new rule's requirements on or before the compliance date in September 2022.

Valuation of Investments

Level 1 investments are valued using quoted market prices. Level 2 investments are valued using market consensus prices that are corroborated by observable market data and quoted market prices for similar assets and liabilities. Level 3 investments are valued at fair value as determined in good faith by the Board, based on input of management, the audit committee and independent valuation firms that have been engaged at the direction of the Board to assist in the valuation of certain portfolio investments without a readily available market quotation at least once during a trailing twelve-month period under a valuation policy and a consistently applied valuation process.

When determining fair value of Level 3 debt and equity investments, the Company may take into account the following factors, where relevant: the enterprise value of a portfolio company, the nature and realizable value of any collateral, the portfolio company’s ability to make payments and its earnings and discounted cash flows, the markets in which the portfolio company does business, comparisons to publicly traded securities, and changes in the interest rate environment and the credit markets generally that may affect the price at which similar investments may be made and other relevant factors. The primary methods for determining enterprise value include a discounted cash flow analysis and a multiple analysis whereby appropriate multiples are applied to the portfolio company’s EBITDA or revenue. The enterprise value analysis is performed to determine the value of equity investments and to determine if debt investments are credit impaired. If debt investments are credit impaired, the Company will use the enterprise value analysis or a liquidation basis analysis to determine fair value. For debt investments that are not determined to be credit impaired, the Company uses a market interest rate yield analysis to determine fair value.
In addition, for certain debt investments, the Company may base its valuation on quotes provided by an independent third party broker. 

For certain investments, the Company generally calculates the fair value of the investment primarily based on the NAV of the entity and adjusts the fair value for other factors that would affect the fair value of the investment. The Company uses this valuation approach for its investment in NCL.

Due to the inherent uncertainty of determining the fair value of Level 3 investments that do not have a readily available market value, the fair value of the investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be received or settled. Further, such investments are generally subject to legal and other restrictions or otherwise are less liquid than publicly traded instruments. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, the Company may realize significantly less than the value at which such investment had previously been recorded. 
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The Company’s investments are subject to market risk. Market risk is the potential for changes in the value due to market changes. Market risk is directly impacted by the volatility and liquidity in the markets in which the investments are traded.

Changes in the market environment, portfolio company performance and other events that may occur over the lives of the investments may cause the gains or losses ultimately realized on these investments to be materially different than the valuations currently assigned. We determine the fair value of each individual investment and record changes in fair value as unrealized appreciation or depreciation. Our investment portfolio is carried on the consolidated statements of assets and liabilities at fair value with any adjustments to fair value recognized as "Net unrealized appreciation (depreciation)" on the consolidated statements of operations until the investment is realized, usually upon exit, resulting in any gain or loss being recognized as a "Net realized gains (losses)."

Our Board has the final responsibility for overseeing, reviewing and approving, in good faith, our determination of the fair value for our investment portfolio and our valuation procedures, consistent with 1940 Act requirements. We believe our investment portfolio as of June 30, 2022 and December 31, 2021 approximates fair value as of those dates based on the markets in which we operate and other conditions in existence on those reporting dates.

Valuation of Servicing Assets

The Company accounts for servicing assets in accordance with ASC 860-50 - Transfers and Servicing - Servicing Assets and Liabilities. Servicing assets are measured at fair value at each reporting date and the Company reports changes in the fair value of servicing assets in earnings in the period in which the changes occur. The valuation model for servicing assets incorporates assumptions including, but not limited to, servicing costs, discount rate, prepayment rate, and default rate. Considerable judgement is required to estimate the fair value of servicing assets and as such these assets are classified as Level 3 in our fair value hierarchy.

Income Recognition
Management reviews all loans that become 90 days or more past due on principal or interest or when there is reasonable doubt that principal or interest will be collected for possible placement on management’s designation of non-accrual status. Interest receivable is analyzed regularly and may be reserved against when deemed uncollectible. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest is paid and, in management’s judgment, are likely to remain current, although we may make exceptions to this general rule if the loan has sufficient collateral value and is in the process of collection.
In addition, under the PPP that began in the second quarter of 2020, the SBA reimbursed the Company for originating loans. Such SBA reimbursements are included as interest income on PPP loans. Such fees are accounted for under ASC-310 Receivables and deferred until the loan was sold to one of our Participants. Income earned in connection with the PPP should not be viewed as recurring. NSBF funded the balance of its PPP loans by the end of July 2021. NSBF has redeployed the resources used to generate PPP loans to the origination of SBA 7(a) loans.

We receive servicing income related to the guaranteed portions of SBA loan investments which we sell into the secondary market. These recurring fees are earned and recorded daily. Servicing income is earned for the full term of the loan or until the loan is repaid.

We receive a variety of fees from borrowers in the ordinary course of conducting our business, including packaging fees, legal fees, late fees and prepayment fees. All other income is recorded when earned.
Dividends are recorded as dividend income on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income is recorded at the time dividends are declared. Distributions of earnings from a portfolio companies are evaluated to determine if the distribution is income, return of capital or realized gain.
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Income Taxes

Deferred tax assets and liabilities are computed based upon the differences between the financial statement and income tax basis of assets and liabilities using the enacted tax rates in effect for the year in which those temporary differences are expected to be realized or settled. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized.

The Company’s U.S. federal and state income tax returns prior to fiscal year 2018 are generally closed, and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings.

The Company has elected to be treated as a RIC under the Code beginning with the 2015 tax year and operates in a manner so as to continue to qualify for the tax treatment applicable to RICs. The RIC tax return includes Newtek Business Services Corp. and NSBF, a single member LLC disregarded for tax purposes. None of the Company’s other subsidiaries are included in the RIC tax return. The Company will evaluate and record any deferred tax assets and liabilities of the subsidiaries that are not included in the RIC tax return. In order to maintain its RIC tax treatment, among other things, the Company is required to meet certain source of income and asset diversification requirements and timely distribute to its stockholders at least 90% of investment company taxable income, as defined by the Code, for each tax year. The Company intends to make the requisite distributions to its stockholders, which will generally relieve the Company from U.S. federal income taxes with respect to any income that is distributed to its stockholders as dividends.

Depending on the level of taxable income earned in a tax year, the Company may choose to retain taxable income in excess of current year dividend distributions and would distribute such taxable income in the next tax year. The Company would then pay a 4% excise tax on such income, as required. To the extent that the Company determines that its estimated current year annual taxable income, determined on a calendar year basis, could exceed estimated current calendar year dividend distributions, the Company accrues excise tax, if any, on estimated excess taxable income as taxable income is earned. For the six months ended June 30, 2022 and 2021, no U.S. federal excise taxes were due.

The Company’s Taxable Subsidiaries accrue income taxes payable based on the applicable corporate rates on the net unrealized appreciation generated by the controlled investments held by the Taxable Subsidiaries. Such deferred tax liabilities amounted to $12.8 million and $12.7 million at June 30, 2022 and December 31, 2021, respectively, and are recorded as deferred tax liabilities on the consolidated statements of assets and liabilities. The change in deferred tax liabilities is included as a component of net unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

Recently Adopted Accounting Pronouncements

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,(“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts and transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU No. 2021-01, “Reference Rate Reform (Topic 848),” which expanded the scope of Topic 848 to include derivative instruments impacted by discounting transition. ASU 2020-04 and ASU 2021-01 are effective as of March 12, 2020 through December 31, 2022. ASU No. 2021-01 provides increased clarity as the Company continues to evaluate the transition of reference rates, however, the impact of the adoption is not expected to be material. The adoption of ASU 2020-04 did not have a material impact on the Company’s consolidated financial statements.

New Accounting Standards

In June 2022, the FASB issued ASU No. 2022-03, “Fair Value Measurement (Topic 820),” which clarifies the guidance in
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Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit
the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The amendments affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction. ASU 2022-03 is effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. For all other entities the amendments are effective for fiscal years beginning after December 15, 2024, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. An entity that qualifies as an investment company under Topic 946 should apply the amendments in ASU No. 2022-03 to an investment in an equity security subject to a contractual sale restriction that is executed or modified on or after the date of adoption. The Company is currently evaluating the impact of adopting ASU No. 2022-03 on the consolidated financial statements.

In November 2020, the SEC published Release No. IC-34084 Use of Derivatives by Registered Investment Companies and Business Development Companies and adopted rules amending Rule 18f-4 and Rule 6c-11. Under the newly adopted rules, BDCs that use derivatives will be subject to a value-at-risk leverage limit, a derivatives risk management program and testing requirements and requirements related to board reporting. These new requirements will apply unless the BDC qualifies as a “limited derivatives user,” as defined under the adopted rules. Under the new rule, a BDC may enter into an unfunded commitment agreement that is not a derivatives transaction, such as an agreement to provide financing to a portfolio company, if the BDC has, among other things, a reasonable belief, at the time it enters into such an agreement, that it will have sufficient cash and cash equivalents to meet its obligations with respect to all of its unfunded commitment agreements, in each case as it becomes due. Compliance is required by August 19, 2022. The Company does not expect the adoption to have a material impact on its consolidated financial statements.

Off Balance Sheet Arrangements
There were no off balance sheet arrangements as of June 30, 2022.
Recent Developments

ATM

On July 20, 2022, the Company entered into Amendment No. 1 to the 2020 ATM Equity Distribution Agreement. The purpose of the amendment was to increase the maximum number of shares of common stock, par value $0.02 per share, available for sale under the Equity Distribution Agreement from 3,000,000 shares to 6,400,000 shares, which number includes all shares previously sold pursuant to the Equity Distribution Agreement. As of August 5, 2022, there were 3,437,661 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement, as amended.

Joint Venture Agreement

On August 5, 2022, NCL and TSO II Booster Aggregator, L.P. (“TSO II”) entered into a joint venture, Newtek-TSO II Conventional Credit Partners, LP (the “JV”), governed by the Amended and Restated Limited Partnership Agreement for the JV. NCL and TSO II each committed to contribute an equal share of equity funding to the JV and each will have equal voting rights on all material matters. The JV intends to deploy capital over the course of time with additional leverage supported by a warehouse line of credit. The intended purpose of the JV will be to originate commercial loans to middle-market companies as well as small businesses.
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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Uncertainty with respect to the economic effects of the ongoing COVID-19 pandemic, the ongoing conflict between Russia and Ukraine, and rising inflation and increasing interest rates has introduced significant volatility in the financial markets, and the effect of the volatility could materially impact our market risks, including those listed below.
We consider the principal types of risk in our investing activities to be fluctuations in interest rates and loan portfolio valuations and the availability of the secondary market for our SBA loans. Risk management systems and procedures are designed to identify and analyze our risks, to set appropriate policies and limits and to continually monitor these risks and limits by means of reliable administrative and information systems and other policies and programs.
NSBF primarily lends at an interest rate of prime, which resets on a calendar quarterly basis, plus a fixed margin. The Capital One revolver lines are on a prime plus or minus a fixed factor basis and the securitization notes are at prime or 1 month LIBOR, plus a fixed margin, whichever is less. As a result, the Company believes it has matched its cost of funds to its interest income in its financing activities. However, because of the differential between the amount lent and the smaller amount financed a significant change in market interest rates will have a material effect on our income. In periods of sharply rising interest rates, our cost of funds will increase at a slower rate than the interest income earned on the loans we have originated; this should improve our net investment income, holding all other factors constant. However, a reduction in interest rates will result in the Company experiencing a reduction in investment income; that is, its interest income will decline more quickly than interest expense resulting in a net reduction of benefit to investment income. On June 30, 2022, SBA published final rules, effective August 1, 2022, revising various regulations governing the SBA’s business loan programs. As part of these rule changes, the SBA amended 13 CFR 1201.214(d), to require the use of loan amounts as the basis upon which the variable interest rate is set on SBA 7(a) loans, instead of loan maturities. To implement this change, SBA revised 13 CFR 1201.214(d) to reflect the maximum variable interest rates for all SBA 7(a) loans, as follows: (1) For all 7(a) loans of $50,000 and less, the interest rate shall not exceed six and a half (6.5) percentage points over the base rate; (2) For all 7(a) loans of more than $50,000 and up to and including $250,000, the maximum interest rate shall not exceed six (6.0) percentage points over the base rate; (3) For all 7(a) loans of more than $250,000 and up to and including $350,000, the maximum interest rate shall not exceed four and a half (4.5) percentage points over the base rate; and (4) For all 7(a) loans of more than $350,000, the maximum interest rate shall not exceed three (3.0) percentage points over the base rate. The Company is evaluating these rule changes and the potential impacts.

NSBF depends on the availability of secondary market purchasers for the guaranteed portions of SBA loans and the premium received on such sales to support its lending operations. Sale prices for guaranteed portions of SBA 7(a) loans could be negatively impacted by market conditions, in particular a higher interest rate environment, which typically lead to higher prepayments during the period, resulting in lower sale prices in the secondary market. A reduction in the price of guaranteed portions of SBA 7(a) loans could negatively impact our business. During the second quarter of 2022, the weighted average net gain-on-sale price for the guaranteed portions of SBA 7(a) loans sold decreased over the first quarter of 2022, which we believe reflects the rising interest rate environment, other capital market pressures and the fact that increases in prime rate, which is base rate for our SBA 7(a) loans, have lagged other base rate interest rate increases and further, that the interest rates on our SBA 7(a) loans reset on a calendar quarterly basis.
We do not have significant exposure to changing interest rates on invested cash (includes cash and cash equivalents and restricted cash) which was approximately $126.0 million at June 30, 2022. We do not purchase or hold derivative financial instruments for trading purposes. All of our transactions are conducted in U.S. dollars and we do not have any foreign currency or foreign exchange risk. We do not trade commodities or have any commodity price risk.

We believe that we have placed our demand deposits, cash investments and their equivalents with high credit-quality financial institutions. As of June 30, 2022, cash deposits in excess of insured amounts totaled approximately $39.1 million.

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ITEM 4. CONTROLS AND PROCEDURES.

(a) Evaluation of Disclosure Controls and Procedures:

As of June 30, 2022 (the end of the period covered by this report), we, including our Chief Executive Officer and Chief Accounting Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) of the Exchange Act). Based on that evaluation, our management, including our Chief Executive Officer and Chief Accounting Officer, concluded that our disclosure controls and procedures were effective and provided reasonable assurance that information required to be disclosed in our periodic SEC filings is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Accounting Officer, as appropriate, to allow timely decisions regarding required disclosure. However, in evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

(b) Changes in Internal Controls Over Financial Reporting

There has not been any change in our internal controls over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.

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PART II

ITEM 1. LEGAL PROCEEDINGS.

In the ordinary course of business, the Company and its wholly-owned portfolio companies may from time to time be party to lawsuits and claims. The Company evaluates such matters on a case by case basis and its policy is to contest vigorously any claims it believes are without compelling merit. The Company is not currently involved in any litigation matters that are expected to have a material impact on the Company’s financial condition. For legal proceedings involving controlled portfolio companies, refer to Part I, “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2021, filed on March 1, 2022.

For example, the Company closed on its $5.4 million investment in BSP in June 2016. Subsequently, as previously disclosed, the Company invested $1.7 million in additional capital and recorded $7.1 million in unrealized losses on the BSP investment to write down the fair value of the investment to $0.0 million by June 30, 2019. The BSP investment resulted in protracted litigation with Kerri Agee, the former owner and President of BSP, who filed for bankruptcy and was indicted in 2019 for, and convicted in 2021 of, defrauding the SBA. The Agee litigation concluded with Holdco 5 obtaining a nondischargeable judgment against Agee in the amount of $6.2 million in January 2022. Holdco 5 intends to vigorously pursue all of its rights relating to this matter, though there can be no assurances of the possibility of recovering some or substantially all of the assets referred to in the judgement. Holdco 5 has not recorded any gain contingency relating to this litigation.

In addition, as a result of a litigation brought by the Federal Trade Commission (the “FTC”) in October 2012, NMS voluntarily entered into, and is presently operating under, a permanent injunction with respect to certain of its business practices.

ITEM 1A. RISK FACTORS.

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed on March 1, 2022, and in Part II, "Item 1A. Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed on May 9, 2022, which could materially affect our business, financial condition and/or operating results. The risks described in our Annual Report on Form 10-K and in our Quarterly Report on Form 10-Q are not the only risks we face. Additional risks and uncertainties that are not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results. Other than the risks described below, there have been no material changes from the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2021 and in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021.

Our stockholders may experience dilution upon the repurchase of common shares.

On June 21, 2022, the Company’s Board of Directors approved a repurchase program which allows the Company to repurchase up to 500,000 of the Company’s outstanding common shares on the open market. Under the program, purchases may be made at management’s discretion from time to time in open-market transactions, in accordance with all applicable securities laws and regulations. Unless extended or terminated by the Board, the Company expects the termination date of for this new repurchase program will be on December 21, 2022. The Company did not make any repurchases of its common stock during the period ended June 30, 2022. If we were to repurchase shares at a price above net asset value, such repurchases would result in an immediate dilution to existing common stockholders due to a reduction in our earnings and assets due to the repurchase that is greater than the reduction in total shares outstanding.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

We issue shares of common stock that are not subject to the registration requirements of the Securities Act in connection with the DRIP. During the three and six months ended June 30, 2022 and June 30, 2021 we issued 29,600 and 12,000 shares of common stock, respectively, valued at $0.6 million and $0.4 million, respectively to shareholders in connection with the DRIP.

We also issue shares of common stock that are not subject to the registration requirements of the Securities Act in connection with dividends on unvested restricted stock awards. During the three and six months ended June 30, 2022 and June 30, 2021 we issued an additional 9,400 and 6,500 shares, respectively, valued at $0.2 million and $0.2 million, respectively, related to dividends on unvested restricted stock awards.

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ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

None.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS.
NumberDescription
* Filed herewith
** Furnished herewith

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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
NEWTEK BUSINESS SERVICES CORP.
Date: August 8, 2022By:
/S/    BARRY SLOANE        
Barry Sloane
Chief Executive Officer, President and Chairman of the Board
(Principal Executive Officer)
Date: August 8, 2022By:
/S/    NICHOLAS LEGER       
Nicholas Leger
Chief Accounting Officer
(Principal Financial Officer and Principal Accounting Officer)


384
firstamendmenttostockpur
EXECUTION VERSION 4866-4344-7334 v.3 FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT This FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT (“Amendment”) is dated as of July 1, 2022 (the “Execution Date”), by and between Newtek Business Services Corp., a corporation formed under the laws of the State of Maryland (“Purchaser”), and Richard Gelman in his capacity as the Sellers’ Representative pursuant to Section 10.01 of the Agreement (as hereinafter defined) (the “Sellers’ Representative”). WHEREAS, those persons whose names and addresses set forth in Schedule A thereto, National Bank of New York City, a national bank located in the State of New York (the “Bank”), and Purchaser entered into that certain Stock Purchase Agreement, dated as of August 2, 2021 (the “Agreement”); WHEREAS, Section 11.01 of the Agreement allows Purchaser and the Sellers’ Representative to amend or waive any provision of the Agreement subject to Section 10.05 thereof; and WHEREAS, Purchaser and the Sellers’ Representative desire to amend the Agreement. NOW THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Sellers, Bank and Purchaser agree to amend the Agreement: 1. The below recital is deleted in its entirety: “WHEREAS, on the date hereof, Purchaser has entered into an employment agreement with Nicholas DeMeo, the President of the Bank, with such agreement to be effective upon and subject to the Closing; and” 2. Section 6.08 is deleted in its entirety and replaced with the following: Compensation Matters. After the date hereof, the Purchaser shall create a cash retention pool of $225,000 in the aggregate for employees of the Bank on such terms as shall be determined by the Purchaser in consultation with the Chairman of the Board of the Bank, which shall, subject to the Closing, be paid to such employees of the Bank within thirty (30) days following the Closing Date or at such later dates as may be provided in any retention award. 3. Section 7.02(k) of the Agreement is deleted in its entirety and replaced with the following: “(k) Bank Employees. The number of employees of the Bank as of the Closing shall not be less than 75% of the number of employees as of the date of this Agreement; for the avoidance of doubt, the Bank employees as of the Closing do not need to be the same persons as were employees as of the date hereof, provided that any person hired by the Bank as a Bank employee subsequent to the date


 
-2- 4866-4344-7334 v.3 hereof shall be reasonably qualified, based upon, among other considerations, such person’s experience, expertise, credentials and qualifications to perform the job functions of the position at the Bank for which such person is hired.” This Amendment shall be effective as of the Execution Date. This Amendment shall be interpreted and enforced in accordance with the laws governing the Agreement, and the parties hereto agree to resolve any issues arising from this Amendment in accordance with the terms of the Agreement. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same Amendment and shall become effective when one or more counterparts have been signed by each of the parties hereto and delivered to the other parties hereto; it being understood and agreed that all parties hereto need not sign the same counterpart. The delivery by facsimile or by electronic delivery in PDF format of this Amendment with all executed signature pages (in counterparts or otherwise) shall be sufficient to bind the parties hereto to the terms and conditions set forth herein. All of the counterparts will together constitute one and the same instrument, and each counterpart will constitute an original of this Amendment. Except as specifically amended by this Amendment, the terms and conditions of the Agreement shall remain in full force and effect as written. In the event of any conflict between this Amendment and the Agreement, the provisions of this Amendment shall control for all purposes. The Agreement, as amended by this Amendment, constitutes the entire agreement and understanding between the parties hereto concerning the subject matter hereof and supersedes all oral communication and prior writings with respect thereto. No further amendment, modification or waiver in respect of the matters contemplated by this Amendment will be effective unless made in accordance with the terms of the Agreement. IN WITNESS WHEREOF, the parties hereto have executed or have caused this Amendment to be duly executed in counterparts all as of the day and year first above written. [signature page follows]


 


 
[Signature page to First Amendment to Stock Purchase Agreement] SELLERS’ REPRESENTATIVE: RICHARD GELMAN By: Name: Richard Gelman PURCHASER: NEWTEK BUSINESS SERVICES CORP. By: Name: Barry Sloane Title: Chairman, President and Chief Executive Officer


 
nyoung-amendmenttoemploy
1 AMENDMENT TO EMPLOYMENT AGREEMENT This AMENDMENT TO EMPLOYMENT AGREEMENT (“Amendment”) is dated as of August 2, 2022 (the “Execution Date”), by and between Newtek Business Services Corp., a corporation formed under the laws of the State of Maryland (the “Company”) and Nicolas Young (the “Executive”). WHEREAS, the Company and Executive entered into an Employment Agreement dated as of August 2, 2021, pursuant to which the Executive is employed by the Company as the Company’s Chief Risk Officer (the “Employment Agreement”); WHEREAS, Section 17 of the Employment Agreement allows the Company and Executive to amend the Employment Agreement; and WHEREAS, Company and Executive desire to amend the Employment Agreement. NOW THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree to amend the Employment Agreement, as follows: 1. Section 6 is deleted in its entirety and replaced with the following: Term. The Company hereby employs the Executive, and the Executive hereby accepts such employment, subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on December 31, 2022, or such earlier date as is determined in accordance with Section 11 (the “Term”). This Amendment shall be effective as of the Execution Date. This Amendment shall be interpreted and enforced in accordance with the laws governing the Agreement, and the parties hereto agree to resolve any issues arising from this Amendment in accordance with the terms of the Employment Agreement. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same Amendment and shall become effective when one or more counterparts have been signed by each of the parties hereto and delivered to the other parties hereto; it being understood and agreed that all parties hereto need not sign the same counterpart. The delivery by facsimile or by electronic delivery in PDF format of this Amendment with all executed signature pages (in counterparts or otherwise) shall be sufficient to bind the parties hereto to the terms and conditions set forth herein. All of the counterparts will together constitute one and the same instrument, and each counterpart will constitute an original of this Amendment. Except as specifically amended by this Amendment, the terms and conditions of the Employment Agreement shall remain in full force and effect as written. In the event of any


 
-2- conflict between this Amendment and the Employment Agreement, the provisions of this Amendment shall control for all purposes. The Employment Agreement, as amended by this Amendment, constitutes the entire agreement and understanding between the Company and the Executive concerning the subject matter hereof and supersedes all oral communication and prior writings with respect thereto. No further amendment, modification or waiver in respect of the matters contemplated by this Amendment will be effective unless made in accordance with the terms of the Employment Agreement. IN WITNESS WHEREOF, the parties hereto have executed or have caused this Amendment to be duly executed in counterparts all as of the day and year first above written. [signature page follows]


 
[Signature page to Amendment to Employment Agreement] NEWTEK BUSINESS SERVICES CORP. By: Barry Sloane Chief Executive Officer EXECUTIVE By: ___________________________ Nicolas Young


 
Document

Exhibit 31.1
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 302 OF THE
SARBANES-OXLEY ACT OF 2002
I, Barry Sloane, certify that:
1. I have reviewed this quarterly report on Form 10-Q of Newtek Business Services Corp. (the “registrant”).
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report;
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
Date: August 8, 2022/S/    BARRY SLOANE        
Barry Sloane
Principal Executive Officer


Document

Exhibit 31.2
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 302 OF THE
SARBANES-OXLEY ACT OF 2002
I, Nicholas Leger, certify that:
1. I have reviewed this quarterly report on Form 10-Q of Newtek Business Services Corp. (the “registrant”).
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:
a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
Date: August 8, 2022/S/    NICHOLAS LEGER        
Nicholas Leger
Principal Financial Officer



Document

Exhibit 32.1
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q for the period ended June 30, 2022 (the “Report”) of Newtek Business Services Corp. (the “Company”), as filed with the Securities and Exchange Commission on the date hereof, I, Barry Sloane, as Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:
(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of the operations of the Company.
 
Date: August 8, 2022/S/    BARRY SLOANE        
Barry Sloane,
Principal Executive Officer


Document

Exhibit 32.2
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q for the period ended June 30, 2022 (the “Report”) of Newtek Business Services Corp. (the “Company”), as filed with the Securities and Exchange Commission on the date hereof, I, Nicholas Leger, as Principal Financial Officer of the Company, hereby certify pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:
(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of the operations of the Company.
 
Date: August 8, 2022/S/    NICHOLAS LEGER        
Nicholas Leger,
Principal Financial Officer