| Maryland | 46-3755188 | |||||||
(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) | |||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| Common Stock, par value $0.02 per share | NEWT | Nasdaq Global Market LLC | ||||||||||||
| 5.75% Notes due 2024 | NEWTL | Nasdaq Global Market LLC | ||||||||||||
| 5.50% Notes due 2026 | NEWTZ | Nasdaq Global Market LLC | ||||||||||||
| 8.00% Notes due 2028 | NEWTI | Nasdaq Global Market LLC | ||||||||||||
| Large accelerated filer | o | x | ||||||||||||||||
| Non-accelerated filer | o | Smaller reporting company | o | |||||||||||||||
| Emerging growth company | o | |||||||||||||||||
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| Terms | |||||
| 1940 Act | Investment Company Act of 1940, as amended | ||||
| Newtek Small Business Loan Trust, Series | |||||
| Newtek Small Business Loan Trust, Series 2018-1 | |||||
| 2019-1 Trust | Newtek Small Business Loan Trust, Series 2019-1 | ||||
| 2021-1 Trust | Newtek Small Business Loan Trust, Series 2021-1 | ||||
| 2022-1 Trust | Newtek Small Business Loan Trust, Series 2022-1 | ||||
| 2023-1 Trust | Newtek Small Business Loan Trust, Series 2023-1 | ||||
| 2024 Notes | 5.75% Notes due 2024 | ||||
| 2025 6.85% Notes | 6.85% Notes due 2025, redeemed in May 2022 | ||||
| 2025 5.00% Notes | 5.00% Notes due 2025 | ||||
| 2025 8.125% Notes | 8.125% Notes due 2025 | ||||
| 2025 Notes | Collectively, the 2025 6.85% Notes, the 2025 5.00% Notes and the 8.125% Notes due 2025 | ||||
| 2026 Notes | 5.50% Notes due 2026 | ||||
| 2028 Notes | |||||
| Allowance for credit losses | |||||
| Acquisition | The Company’s Acquisition of NBNYC, pursuant to which the Company acquired from the NBNYC shareholders all of the issued and outstanding stock of NBNYC | ||||
| ALP | Alternative Lending Program | ||||
| ASC | Accounting Standards Codification, as issued by the FASB | ||||
| ASU | Accounting Standards Updates, as issued by the FASB | ||||
| 2023 ATM Equity Distribution Agreement | |||||
| BDC | Business Development Company under the 1940 Act | ||||
| Board | The Company's board of directors | ||||
| Capital One | Capital One Bank, | ||||
| Conventional commercial and industrial loans | |||||
| Code | Internal Revenue Code of 1986, as amended | ||||
| Deutsche Bank | Deutsche Bank AG | ||||
| DIF | Deposit Insurance Fund of the FDIC | ||||
| DRIP | The Company's former dividend reinvestment plan | ||||
| EBITDA | Earnings before interest, taxes, depreciation and amortization | ||||
| The Company's 2015 | |||||
| 2023 Stock Incentive Plan | The Company’s 2023 Stock Incentive Plan | ||||
| ESPP | Employee Stock Purchase Program | ||||
| Exchange Act | Securities | ||||
| FASB | Financial Accounting Standards Board | ||||
| Fair Value | |||||
| HFI | Held for investment | ||||
| HFS | Held for sale | ||||
| LIBOR | London Interbank Offered Rate | ||||
| LTV | Loan-to-Value | ||||
| Net Asset Value | |||||
| NBNYC | National Bank of New York City, which has been renamed Newtek Bank, National Association | ||||
| OCC | Office of the Comptroller of the Currency | ||||
| PCD | Purchased Financial Assets with Credit Deterioration | ||||
| PLP | Preferred | ||||
| Paycheck Protection Program | |||||
| RIC | Regulated investment company under the Code | ||||
| S&P | Standard and Poor's | ||||
| SBA | United States Small Business Administration | ||||
| SEC | U.S. Securities and Exchange Commission | ||||
| SMB | Small-and-medium sized businesses | ||||
| 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, as amended through December 12, 2022 | |||||
| Trustee | U.S. Bank, | ||||
| TSO II | TSO II Booster Aggregator, L.P. | ||||
| U.S. GAAP or GAAP | Generally accepted accounting principles in the United States | ||||
| Webster | Webster Bank, N.A. | ||||
| Subsidiaries and | |||||
| NSBF | |||||
| Newtek Small Business Finance, LLC, a consolidated subsidiary | |||||
| NCL | Newtek Commercial Lending, Inc, a consolidated subsidiary | ||||
| NCL JV | Newtek Conventional Lending, LLC, a 50% owned joint venture | ||||
| Newtek Bank | Newtek Bank, National Association, a consolidated subsidiary | ||||
| Holdco 6 | Newtek Business Services | ||||
| TSO JV | Newtek-TSO II Conventional Credit Partners, LP, a 50% owned joint venture | ||||
| NMS | Newtek Merchant Solutions, LLC, a | ||||
| NTS | Newtek Technology Solutions, Inc., a | ||||
| CDS Business Services, Inc. dba Newtek Business Credit Solutions, a | |||||
| SBL | Small Business Lending, LLC, a | ||||
| PMTWorks Payroll, LLC dba Newtek Payroll and Benefits Solutions, a | |||||
| NIA | Newtek Insurance Agency, LLC, a | ||||
| TAM | Titanium Asset Management, LLC, a | ||||
| EMCAP | EMCAP Loan Holdings, LLC | ||||
| POS | POS on Cloud, LLC, dba Newtek Payment Systems, a 88.34% owned consolidated subsidiary | ||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (In Thousands, except for Per Share Data) | |||||||
| September 30, 2017 | December 31, 2016 | ||||||
| ASSETS | (Unaudited) | (Note 1) | |||||
| Investments, at fair value | |||||||
| SBA unguaranteed non-affiliate investments (cost of $265,132 and $219,784, respectively; includes $176,934 and $197,927, respectively, related to securitization trusts) | $ | 257,136 | $ | 211,471 | |||
| SBA guaranteed non-affiliate investments (cost of $21,637 and $10,262, respectively) | 24,088 | 11,512 | |||||
| Controlled investments (cost of $58,891 and $41,001, respectively) | 136,949 | 121,302 | |||||
| Non-control/non-affiliate investments (cost of $0 and $904, respectively) | — | 904 | |||||
| Investments in money market funds (cost of $9 and $35, respectively) | 9 | 35 | |||||
| Total investments at fair value | 418,182 | 345,224 | |||||
| Cash and cash equivalents | 3,915 | 2,051 | |||||
| Restricted cash | 26,602 | 20,845 | |||||
| Broker receivable | 25,003 | 2,402 | |||||
| Due from related parties | 2,553 | 3,748 | |||||
| Servicing assets, at fair value | 19,092 | 16,246 | |||||
| Other assets | 10,980 | 10,934 | |||||
| Total assets | $ | 506,327 | $ | 401,450 | |||
| LIABILITIES AND NET ASSETS | |||||||
| Liabilities: | |||||||
| Bank notes payable | $ | 66,146 | $ | 5,100 | |||
| Notes due 2022 (Note 7) | 7,915 | 7,853 | |||||
| Notes due 2021 (Note 7) | 39,027 | 38,767 | |||||
| Notes payable - Securitization trusts (Note 7) | 95,376 | 118,122 | |||||
| Notes payable - related parties | 20,541 | 1,400 | |||||
| Due to related parties | 812 | 1,227 | |||||
| Deferred tax liabilities | 5,240 | 5,983 | |||||
| Accounts payable, accrued expenses and other liabilities | 15,658 | 13,904 | |||||
| Total liabilities | 250,715 | 192,356 | |||||
| Commitments and contingencies (Note 8) | |||||||
| Net Assets: | |||||||
| Preferred stock (par value $0.02 per share; authorized 1,000 shares, no shares issued and outstanding) | — | — | |||||
| Common stock (par value $0.02 per share; authorized 200,000 shares, 17,730 and 14,624 issued and outstanding, respectively) | 355 | 293 | |||||
| Additional paid-in capital | 234,955 | 188,472 | |||||
| (Distributions in excess of)/undistributed net investment income | (3,069 | ) | 8,092 | ||||
| Net unrealized appreciation, net of deferred taxes | 11,347 | 13,008 | |||||
| Net realized gains/(losses) | 12,024 | (771 | ) | ||||
| Total net assets | 255,612 | 209,094 | |||||
| Total liabilities and net assets | $ | 506,327 | $ | 401,450 | |||
| Net asset value per common share | $ | 14.40 | $ | 14.30 | |||
| NEWTEKONE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (In Thousands, except for Per Share Data) | |||||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||
| ASSETS | (Unaudited) | ||||||||||
| Cash and due from banks | $ | 12,295 | $ | 15,398 | |||||||
| Restricted cash | 35,759 | 30,919 | |||||||||
| Interest bearing deposits in banks | 115,152 | 137,689 | |||||||||
| Total cash and cash equivalents | 163,206 | 184,006 | |||||||||
| Debt securities available-for-sale, at fair value | 28,127 | 32,171 | |||||||||
| Loans held for sale, at fair value | 187,104 | 118,867 | |||||||||
| Loans held for sale, at LCM | 59,880 | 56,607 | |||||||||
| Loans held for investment, at fair value | 442,928 | 469,801 | |||||||||
| Loans held for investment, at amortized cost, net of deferred fees and costs | 397,625 | 336,305 | |||||||||
| Allowance for credit losses | (16,126) | (12,574) | |||||||||
| Loans held for investment, at amortized cost, net | 381,499 | 323,731 | |||||||||
| Federal Home Loan Bank and Federal Reserve Bank stock | 3,773 | 3,635 | |||||||||
| Settlement receivable | 56,890 | 62,230 | |||||||||
| Joint ventures, at fair value (cost of $45,108 and $37,864), respectively | 48,247 | 40,859 | |||||||||
| Non-control investments (cost of $772 and $796), respectively | 728 | 728 | |||||||||
| Goodwill and intangibles | 29,944 | 30,120 | |||||||||
| Right of use assets | 5,193 | 5,701 | |||||||||
| Deferred tax asset, net | 2,717 | 5,230 | |||||||||
| Servicing assets | 41,172 | 39,725 | |||||||||
| Other assets | 58,169 | 56,102 | |||||||||
| Total assets | $ | 1,509,577 | $ | 1,429,513 | |||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||
| Liabilities: | |||||||||||
| Deposits: | |||||||||||
| Noninterest-bearing | $ | 5,466 | $ | 10,053 | |||||||
| Interest-bearing | 507,476 | 453,452 | |||||||||
| Total deposits | 512,942 | 463,505 | |||||||||
| Borrowings | 662,488 | 644,122 | |||||||||
| Dividends payable | 5,038 | 4,792 | |||||||||
| Lease liabilities | 6,344 | 6,952 | |||||||||
| Due to participants | 26,647 | 23,796 | |||||||||
| Accounts payable, accrued expenses and other liabilities | 41,986 | 37,300 | |||||||||
| Total liabilities | 1,255,445 | 1,180,467 | |||||||||
| Shareholders' Equity: | |||||||||||
| Preferred stock (par value $0.02 per share; authorized 20 shares, 20 shares issued and outstanding) | 19,738 | 19,738 | |||||||||
| Common stock (par value $0.02 per share; authorized 199,980 shares, 24,715 and 24,680 shares issued and outstanding, respectively) | 493 | 492 | |||||||||
| Additional paid-in capital | 201,431 | 200,913 | |||||||||
| Retained earnings | 32,611 | 28,051 | |||||||||
| Accumulated other comprehensive loss, net of income taxes | (141) | (148) | |||||||||
| Total shareholders' equity | 254,132 | 249,046 | |||||||||
| Total liabilities and shareholders' equity | $ | 1,509,577 | $ | 1,429,513 | |||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (In Thousands, except for Per Share Data) | |||||||||||||||
| Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||||
| Investment income: | |||||||||||||||
| From non-affiliate investments: | |||||||||||||||
| Interest income | $ | 4,363 | $ | 2,583 | $ | 13,233 | $ | 7,404 | |||||||
| Servicing income | 1,794 | 1,551 | 5,163 | 4,581 | |||||||||||
| Other income | 705 | 692 | 2,266 | 1,913 | |||||||||||
| Total investment income from non-affiliate investments | 6,862 | 4,826 | 20,662 | 13,898 | |||||||||||
| From controlled investments: | |||||||||||||||
| Interest income | 188 | 92 | 456 | 251 | |||||||||||
| Dividend income | 2,551 | 2,933 | 7,326 | 7,719 | |||||||||||
| Other income | — | — | 54 | — | |||||||||||
| Total investment income from controlled investments | 2,739 | 3,025 | 7,836 | 7,970 | |||||||||||
| Total investment income | 9,601 | 7,851 | 28,498 | 21,868 | |||||||||||
| Expenses: | |||||||||||||||
| Salaries and benefits | 4,776 | 3,665 | 14,407 | 10,638 | |||||||||||
| Interest | 2,986 | 2,341 | 8,133 | 5,804 | |||||||||||
| Depreciation and amortization | 107 | 84 | 292 | 209 | |||||||||||
| Professional fees | 605 | 807 | 2,054 | 2,519 | |||||||||||
| Origination and servicing | 1,433 | 1,537 | 4,086 | 4,190 | |||||||||||
| Change in fair value of contingent consideration liabilities | (748 | ) | — | (748 | ) | — | |||||||||
| Other general and administrative costs | 1,634 | 1,542 | 5,239 | 6,094 | |||||||||||
| Total expenses | 10,793 | 9,976 | 33,463 | 29,454 | |||||||||||
| Net investment loss | (1,192 | ) | (2,125 | ) | (4,965 | ) | (7,586 | ) | |||||||
| Net realized and unrealized gains (losses): | |||||||||||||||
| Net realized gain on non-affiliate investments | 9,938 | 8,716 | 27,537 | 22,536 | |||||||||||
| Net unrealized appreciation (depreciation) on SBA guaranteed non-affiliate investments | 1,151 | (78 | ) | 1,201 | 690 | ||||||||||
| Net unrealized (depreciation) appreciation on SBA unguaranteed non-affiliate investments | (1,023 | ) | 1,418 | 238 | 869 | ||||||||||
| Net unrealized (depreciation) appreciation on controlled investments | (500 | ) | 4,638 | (2,243 | ) | 10,362 | |||||||||
| Change in provision for deferred taxes on unrealized depreciation (appreciation) on investments | 335 | (2,028 | ) | 745 | (4,469 | ) | |||||||||
| Net unrealized depreciation on non-control/non-affiliate investments | — | — | — | (43 | ) | ||||||||||
| Net unrealized depreciation on servicing assets | (632 | ) | (500 | ) | (1,601 | ) | (1,341 | ) | |||||||
| Net unrealized depreciation on credits in lieu of cash and notes payable in credits in lieu of cash | — | (1 | ) | — | (2 | ) | |||||||||
| Net realized and unrealized gains | 9,269 | 12,165 | 25,877 | 28,602 | |||||||||||
| Net increase in net assets | $ | 8,077 | $ | 10,040 | $ | 20,912 | $ | 21,016 | |||||||
| Net increase in net assets per share | $ | 0.46 | $ | 0.69 | $ | 1.22 | $ | 1.45 | |||||||
| Net investment loss per share | $ | (0.07 | ) | $ | (0.15 | ) | $ | (0.29 | ) | $ | (0.52 | ) | |||
| Dividends declared per common share | $ | 0.44 | $ | 0.43 | $ | 1.20 | $ | 1.13 | |||||||
| Weighted average shares outstanding | 17,487 | 14,556 | 17,076 | 14,515 | |||||||||||
| Nine Months Ended September 30, 2017 | |||
| Increase in net assets: | |||
| Net investment loss | $ | (4,965 | ) |
| Net realized gains on investments | 27,537 | ||
| Net change in unrealized depreciation on investments | (59 | ) | |
| Net change in unrealized depreciation on servicing assets | (1,601 | ) | |
| Net increase in net assets | 20,912 | ||
| Distributions to common stockholders: | |||
| Dividends to common stockholders from net investment income | (6,151 | ) | |
| Distributions to stockholders from net realized gains | (14,686 | ) | |
| Total distributions to stockholders | (20,837 | ) | |
| Capital share transactions: | |||
| Issuance of common stock under dividend reinvestment plan | 475 | ||
| Stock-based compensation expense | 904 | ||
| Issuance of common stock in connection with investment in International Professional Marketing, Inc. | 1,000 | ||
| Purchase of vested stock for employee payroll tax withholding | (644 | ) | |
| Issuance of common stock, net of offering costs | 44,708 | ||
| Net increase in net assets from capital share transactions | 46,443 | ||
| Total increase in net assets | 46,518 | ||
| Net assets at beginning of period | 209,094 | ||
| Net assets at end of period (includes $3,069 of distributions in excess of net investment income) | $ | 255,612 | |
| Common shares outstanding at end of period | 17,750 | ||
| Capital share activity: | |||
| Shares issued under dividend reinvestment plan | 30 | ||
| Shares issued in connection with public offerings | 3,043 | ||
| Shares issued in connection with investment in International Professional Marketing, Inc. | 61 | ||
| Purchase of vested stock for employee payroll tax withholding | (38 | ) | |
| Restricted shares issued under Equity Incentive Plan, net of forfeitures | 10 | ||
| Net increase in capital activity | 3,106 | ||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (In Thousands) | |||||||
| Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||
| Cash flows from operating activities: | |||||||
| Net increase in net assets | $ | 20,912 | $ | 21,016 | |||
| Adjustments to reconcile net increase in net assets to net cash used in operating activities: | |||||||
| Net unrealized depreciation (appreciation) on controlled investments | 2,243 | (10,362 | ) | ||||
| Net unrealized appreciation on non-affiliate investments | (1,438 | ) | (1,516 | ) | |||
| Net unrealized depreciation on servicing assets | 1,602 | 1,341 | |||||
| Realized gains on non-affiliate investments | (27,668 | ) | (23,299 | ) | |||
| Realized losses on non-affiliate investments | 131 | 763 | |||||
| Loss on lease | 249 | 1,335 | |||||
| Amortization of deferred financing costs | 1,075 | 921 | |||||
| Change in fair value of contingent consideration liabilities | 748 | — | |||||
| Deferred income taxes | (745 | ) | 4,469 | ||||
| Depreciation and amortization | 292 | 209 | |||||
| Purchase of loan from SBA | (3,821 | ) | (2,057 | ) | |||
| Purchase of SBA 7(a) loan portfolio | (175 | ) | — | ||||
| Funding of controlled investments | (27,000 | ) | (6,175 | ) | |||
| Funding of non-control/non-affiliate investments | (3,255 | ) | (1,020 | ) | |||
| Originations of SBA guaranteed non-affiliate investments | (200,620 | ) | (166,212 | ) | |||
| Principal payments received from controlled investments | 12,332 | 1,800 | |||||
| Principal payments received from non-control/non-affiliate investments | 3,255 | 910 | |||||
| Return of investment from controlled investment | 50 | — | |||||
| Proceeds from sale of SBA guaranteed non-affiliate investments | 217,016 | 183,452 | |||||
| Originations of SBA unguaranteed non-affiliate investments | (62,185 | ) | (51,567 | ) | |||
| Payments received on SBA non-affiliate investments | 20,327 | 15,336 | |||||
| Other, net | 1,139 | 527 | |||||
| Changes in operating assets and liabilities: | |||||||
| Net decrease in investments in money market funds | 26 | — | |||||
| Broker receivable | (22,601 | ) | 10,588 | ||||
| Due to/from related parties | 780 | 542 | |||||
| Other assets | 437 | 470 | |||||
| Accounts payable, accrued expenses and other liabilities | (133 | ) | 1,300 | ||||
| Change in restricted cash | (4,585 | ) | (1,923 | ) | |||
| Capitalized servicing assets | (4,447 | ) | (3,919 | ) | |||
| Other, net | (80 | ) | 23 | ||||
| Net cash used in operating activities | (76,139 | ) | (23,048 | ) | |||
| Cash flows from investing activities: | |||||||
| Purchase of fixed assets | (345 | ) | (294 | ) | |||
| Cash flows from financing activities: | |||||||
| Net borrowings on bank lines of credit | 61,046 | 20,819 | |||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (In Thousands) | |||||||
| Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||
| Net borrowings on related party line of credit | 19,141 | 1,753 | |||||
| Repurchase of common stock under share repurchase plan | — | (866 | ) | ||||
| Proceeds from common shares sold, net of offering costs | 44,708 | — | |||||
| Purchase of vested stock for employee payroll tax withholding | (644 | ) | — | ||||
| Proceeds from Notes due 2021 | — | 40,250 | |||||
| Dividends paid | (20,836 | ) | (22,168 | ) | |||
| Payments on Notes Payable - Securitization Trusts | (23,414 | ) | (16,297 | ) | |||
| Change in restricted cash related to securitization trusts | (1,172 | ) | 11 | ||||
| Additions to deferred financing costs | (480 | ) | (1,740 | ) | |||
| Other, net | (1 | ) | (10 | ) | |||
| Net cash provided by financing activities | 78,348 | 21,752 | |||||
| Net increase (decrease) in cash and cash equivalents | 1,864 | (1,590 | ) | ||||
| Cash and cash equivalents—beginning of period | 2,051 | 4,308 | |||||
| Cash and cash equivalents—end of period | $ | 3,915 | $ | 2,718 | |||
| Supplemental disclosure of cash flow activities: | |||||||
| Non-cash operating, investing and financing activities: | |||||||
| Reduction of credits in lieu of cash and notes payable in credits in lieu of cash balances due to delivery of tax credits | $ | — | $ | 652 | |||
| Foreclosed real estate acquired | $ | 212 | $ | 387 | |||
| Issuance of common shares in connection with investment in International Professional Marketing, Inc. | $ | 1,000 | $ | — | |||
| Issuance of common stock under dividend reinvestment plan | $ | 477 | $ | 588 | |||
| Fixed assets acquired from tenant improvement allowance | $ | — | $ | 1,288 | |||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Performing SBA Unguaranteed Investments (1) | |||||||||||||||||||||||||
| Dan Cline Transport Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 9/29/2030 | $ | 1,005.5 | $ | 1,005.5 | $ | 895.1 | 0.35 | % | |||||||||||||
| Lone Star Hardware and Home Decor, LLC | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 9/29/2027 | 72.5 | 72.5 | 62.8 | 0.02 | % | ||||||||||||||||
| Threads of Time LLC | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 9/29/2042 | 137.5 | 137.5 | 136.6 | 0.05 | % | ||||||||||||||||
| Miechella Suzette Decker | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 9/29/2042 | 100.0 | 100.0 | 105.6 | 0.04 | % | ||||||||||||||||
| Harco Metal Products Inc | Primary Metal Manufacturing | Term Loan | Prime plus 2.75% | 9/29/2042 | 489.0 | 489.0 | 467.3 | 0.18 | % | ||||||||||||||||
| SSN GROUP LLC and Dockside Steel Processing LLC | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/29/2042 | 1,250.0 | 1,250.0 | 1,264.9 | 0.49 | % | ||||||||||||||||
| Sashshel Corporation | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/29/2042 | 212.5 | 212.5 | 224.4 | 0.09 | % | ||||||||||||||||
| Dr Richard Rolle JR, PLLC dba Rolle Oral & Facial Surgery PLLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/29/2042 | 875.0 | 875.0 | 864.0 | 0.34 | % | ||||||||||||||||
| Cagwin Trucking LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 9/29/2042 | 325.0 | 325.0 | 336.8 | 0.13 | % | ||||||||||||||||
| Pets A Go Go LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/28/2042 | 198.1 | 198.1 | 202.6 | 0.08 | % | ||||||||||||||||
| Rhode Island Tennis Management LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/28/2042 | 550.0 | 550.0 | 545.3 | 0.21 | % | ||||||||||||||||
| Nicholson Lumber Co Inc. | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 9/28/2030 | 215.0 | 215.0 | 211.5 | 0.08 | % | ||||||||||||||||
| National Media Services, Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/28/2027 | 18.8 | 18.8 | 16.2 | 0.01 | % | ||||||||||||||||
| Rhode Island Tennis Management LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/28/2042 | 383.0 | 383.0 | 379.7 | 0.15 | % | ||||||||||||||||
| Moreno Brother's Inc. | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/28/2027 | 15.0 | 15.0 | 12.9 | 0.01 | % | ||||||||||||||||
| Complete Care IT LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/27/2027 | 15.0 | 15.0 | 12.9 | 0.01 | % | ||||||||||||||||
| Technologist Inc | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 9/27/2027 | 434.5 | 434.5 | 411.9 | 0.16 | % | ||||||||||||||||
| Inspirations Food Design, Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/26/2042 | 466.0 | 466.0 | 468.5 | 0.18 | % | ||||||||||||||||
| NEWTEKONE, INC. AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||
| (In Thousands, except for Per Share Data) | ||||||||||||||||||||||||||||||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||||
| 2024 | 2023 | |||||||||||||||||||||||||||||||||||||
| (as restated) | ||||||||||||||||||||||||||||||||||||||
| Interest income | ||||||||||||||||||||||||||||||||||||||
| Debt securities available-for-sale | $ | 460 | $ | 232 | ||||||||||||||||||||||||||||||||||
| Loans and fees on loans | 24,985 | 17,502 | ||||||||||||||||||||||||||||||||||||
| Other interest earning assets | 1,622 | 981 | ||||||||||||||||||||||||||||||||||||
| Total interest income | 27,067 | 18,715 | ||||||||||||||||||||||||||||||||||||
| Interest expense | ||||||||||||||||||||||||||||||||||||||
| Deposits | 5,576 | 1,475 | ||||||||||||||||||||||||||||||||||||
| Notes and securitizations | 10,827 | 8,718 | ||||||||||||||||||||||||||||||||||||
| Bank and FHLB borrowings | 1,758 | 3,939 | ||||||||||||||||||||||||||||||||||||
| Total interest expense | 18,161 | 14,132 | ||||||||||||||||||||||||||||||||||||
| Net interest income | 8,906 | 4,583 | ||||||||||||||||||||||||||||||||||||
| Provision for credit losses | 4,015 | 1,318 | ||||||||||||||||||||||||||||||||||||
| Net interest income after provision for credit losses | 4,891 | 3,265 | ||||||||||||||||||||||||||||||||||||
| Noninterest income | ||||||||||||||||||||||||||||||||||||||
| Dividend income | 386 | 504 | ||||||||||||||||||||||||||||||||||||
| Loan servicing asset revaluation | (1,735) | 919 | ||||||||||||||||||||||||||||||||||||
| Servicing income | 5,357 | 4,403 | ||||||||||||||||||||||||||||||||||||
| Net gains on sales of loans | 20,292 | 6,367 | ||||||||||||||||||||||||||||||||||||
| Net gain on loans under the fair value option | 2,798 | 5,905 | ||||||||||||||||||||||||||||||||||||
| Technology and IT support income | 5,770 | 6,709 | ||||||||||||||||||||||||||||||||||||
| Electronic payment processing income | 10,987 | 10,328 | ||||||||||||||||||||||||||||||||||||
| Other noninterest income | 5,512 | 7,221 | ||||||||||||||||||||||||||||||||||||
| Total noninterest income | 49,367 | 42,356 | ||||||||||||||||||||||||||||||||||||
| Noninterest expense | ||||||||||||||||||||||||||||||||||||||
| Salaries and employee benefits expense | 20,506 | 19,073 | ||||||||||||||||||||||||||||||||||||
| Technology services expense | 3,408 | 3,803 | ||||||||||||||||||||||||||||||||||||
| Electronic payment processing expense | 4,846 | 4,504 | ||||||||||||||||||||||||||||||||||||
| Professional services expense | 4,565 | 3,440 | ||||||||||||||||||||||||||||||||||||
| Other loan origination and maintenance expense | 2,244 | 2,781 | ||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | 532 | 791 | ||||||||||||||||||||||||||||||||||||
| Other general and administrative costs | 5,058 | 4,631 | ||||||||||||||||||||||||||||||||||||
| Total noninterest expense | 41,159 | 39,023 | ||||||||||||||||||||||||||||||||||||
| Net income before taxes | 13,099 | 6,598 | ||||||||||||||||||||||||||||||||||||
| Income tax expense (benefit) | 3,449 | (11,952) | ||||||||||||||||||||||||||||||||||||
| Net income | 9,650 | 18,550 | ||||||||||||||||||||||||||||||||||||
| Dividends to preferred shareholders | (400) | (249) | ||||||||||||||||||||||||||||||||||||
| Net income available to common shareholders | $ | 9,250 | $ | 18,301 | ||||||||||||||||||||||||||||||||||
| Earnings per common share: | ||||||||||||||||||||||||||||||||||||||
| Basic | $ | 0.38 | $ | 0.76 | ||||||||||||||||||||||||||||||||||
| Diluted | $ | 0.38 | $ | 0.74 | ||||||||||||||||||||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Rollins Construction & Trucking LLC | Construction of Buildings | Term Loan | Prime plus 2.75% | 9/26/2027 | 341.3 | 341.3 | 332.0 | 0.13 | % | ||||||||||||||||
| JPS Arthur Kill Rd Bakery Corp dba Aunt Butches of Brooklyn | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/22/2027 | 22.5 | 22.5 | 19.6 | 0.01 | % | ||||||||||||||||
| KB Waterjet Cutting LLC | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/22/2027 | 10.2 | 10.2 | 9.3 | — | % | ||||||||||||||||
| Magnation Corporation | Utilities | Term Loan | Prime plus 2.75% | 9/22/2027 | 50.0 | 50.0 | 50.8 | 0.02 | % | ||||||||||||||||
| Sallee Pro-Custom Fabrication Shop LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/21/2027 | 9.0 | 9.0 | 9.2 | — | % | ||||||||||||||||
| Excel, RP Inc. | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 9/20/2027 | 100.0 | 100.0 | 92.2 | 0.04 | % | ||||||||||||||||
| Denek Contracting Inc and Denek Leasing LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/20/2042 | 209.8 | 209.8 | 221.5 | 0.09 | % | ||||||||||||||||
| Max Home Deliveries, Inc | Couriers and Messengers | Term Loan | Prime plus 2.75% | 9/20/2027 | 80.8 | 80.8 | 73.8 | 0.03 | % | ||||||||||||||||
| CR Park Incorporated dba Define Body and Mind | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/20/2027 | 100.0 | 27.5 | 26.8 | 0.01 | % | ||||||||||||||||
| Sound Manufacturing, Inc. & Monster Power Equipment, Inc. | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/20/2027 | 200.0 | 200.0 | 189.1 | 0.07 | % | ||||||||||||||||
| Alpha Preparatory Academy LLC | Social Assistance | Term Loan | Prime plus 2.75% | 9/20/2042 | 162.5 | 162.5 | 160.7 | 0.06 | % | ||||||||||||||||
| Montessori Community School | Social Assistance | Term Loan | Prime plus 2.75% | 9/20/2042 | 391.5 | 391.5 | 380.8 | 0.15 | % | ||||||||||||||||
| NY Tent LLC & NY Tent Parent, LLC dba Tent Company of New York | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 9/20/2027 | 1,027.5 | 1,027.5 | 978.6 | 0.38 | % | ||||||||||||||||
| Imagine By Carleen, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/20/2027 | 7.5 | 7.5 | 7.3 | — | % | ||||||||||||||||
| Alexander Pierce Corporation | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/20/2042 | 625.0 | 625.0 | 621.9 | 0.24 | % | ||||||||||||||||
| Venus Pizza, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/20/2042 | 91.3 | 91.3 | 96.3 | 0.04 | % | ||||||||||||||||
| Insight Diagnostic Technologist Services | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/20/2027 | 302.8 | 302.8 | 271.7 | 0.11 | % | ||||||||||||||||
| Commonwealth Diagnostics International, Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/20/2027 | 1,250.0 | 1,250.0 | 1,271.2 | 0.50 | % | ||||||||||||||||
| Stone's Construction and Remodeling, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/19/2027 | 5.3 | 5.3 | 4.5 | — | % | ||||||||||||||||
| CIS BIG DOG, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/19/2027 | 61.3 | 61.3 | 61.1 | 0.02 | % | ||||||||||||||||
| NEWTEKONE, INC. AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) | ||||||||||||||||||||||||||||||||||||||
| (In Thousands, except for Per Share Data) | ||||||||||||||||||||||||||||||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||||
| 2024 | 2023 | |||||||||||||||||||||||||||||||||||||
| (as restated) | ||||||||||||||||||||||||||||||||||||||
| Net income | $ | 9,650 | $ | 18,550 | ||||||||||||||||||||||||||||||||||
| Other comprehensive gain (loss) before tax: | ||||||||||||||||||||||||||||||||||||||
| Net unrealized gain (loss) on debt securities available-for-sale during the period | 9 | (113) | ||||||||||||||||||||||||||||||||||||
| Other comprehensive gain (loss) before tax | 9 | (113) | ||||||||||||||||||||||||||||||||||||
| Income tax (expense) benefit | (2) | 31 | ||||||||||||||||||||||||||||||||||||
| Other comprehensive income (loss), net of tax | 7 | (82) | ||||||||||||||||||||||||||||||||||||
| Comprehensive income | $ | 9,657 | $ | 18,468 | ||||||||||||||||||||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Party By Design Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/18/2042 | 1,205.0 | 1,205.0 | 1,188.4 | 0.46 | % | ||||||||||||||||
| Li Family Spokane LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/15/2042 | 384.5 | 384.5 | 395.6 | 0.15 | % | ||||||||||||||||
| SD Kickboxing LLC dba CKO Kickboxing Dan Diego | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/15/2027 | 40.0 | 40.0 | 36.0 | 0.01 | % | ||||||||||||||||
| Clark Realty LLC | Real Estate | Term Loan | Prime plus 2.75% | 9/15/2027 | 62.5 | 62.5 | 57.3 | 0.02 | % | ||||||||||||||||
| Inglis Food Mart Inc. | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/15/2027 | 22.5 | 22.5 | 22.3 | 0.01 | % | ||||||||||||||||
| Clinton Food Market LLC | Gasoline Stations | Term Loan | Prime plus 2.75% | 9/15/2042 | 262.5 | 262.5 | 262.1 | 0.10 | % | ||||||||||||||||
| Tarleton & Family Landscaping, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/15/2027 | 83.8 | 83.8 | 74.7 | 0.03 | % | ||||||||||||||||
| Alaska Motor Home Inc | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 9/13/2027 | 331.5 | 331.5 | 285.7 | 0.11 | % | ||||||||||||||||
| Fox Valley Rentals & Investments, LLC | Food Services and Drinking Places | Term Loan | Prime plus 3.75% | 9/13/2027 | 7.5 | 7.5 | 7.5 | — | % | ||||||||||||||||
| Nails By Mercede LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/13/2027 | 14.3 | 14.3 | 13.3 | 0.01 | % | ||||||||||||||||
| Town & Country Transportation Co. and Popco, LLC. | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/12/2042 | 168.8 | 168.8 | 178.2 | 0.07 | % | ||||||||||||||||
| Rajbai Maa Inc. dba Nara Lounge | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/12/2042 | 388.1 | 388.1 | 375.6 | 0.15 | % | ||||||||||||||||
| Morgan Lynn Kerstetter dba Catherine School of Dance | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 9/11/2027 | 7.5 | 7.5 | 7.6 | — | % | ||||||||||||||||
| Health & Performance Center, LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/11/2027 | 20.4 | 20.4 | 17.6 | 0.01 | % | ||||||||||||||||
| Foxtail, LLC and Tottly New Services Corp | Social Assistance | Term Loan | Prime plus 2.75% | 9/8/2042 | 291.3 | 291.3 | 291.8 | 0.11 | % | ||||||||||||||||
| Desert Ribs, LLC and Famous Charlie, LLC and Famous Freddie, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/8/2042 | 1,250.0 | 1,250.0 | 1,177.4 | 0.46 | % | ||||||||||||||||
| Echelon Planning Group, LLC dba Echelon Financial Services | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 9/8/2027 | 7.5 | 7.5 | 7.3 | — | % | ||||||||||||||||
| South Fulton Landscape & Nursery, Inc. | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 9/7/2042 | 100.0 | 100.0 | 105.6 | 0.04 | % | ||||||||||||||||
| Crazy Beatz Productions LLC | Motion Picture and Sound Recording Industries | Term Loan | Prime plus 3.75% | 9/7/2027 | 5.3 | 5.3 | 5.0 | — | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Dreaming Big Learning Center Inc | Social Assistance | Term Loan | Prime plus 2.75% | 9/5/2042 | 367.8 | 367.8 | 368.2 | 0.14 | % | ||||||||||||||||
| Big Coop's Trucking LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 9/1/2027 | 100.0 | 100.0 | 93.8 | 0.04 | % | ||||||||||||||||
| Blue Eagel Transport Inc | Couriers and Messengers | Term Loan | Prime plus 2.75% | 8/31/2027 | 383.5 | 383.5 | 330.6 | 0.13 | % | ||||||||||||||||
| Evernook Valley Milk LLC | Animal Production and Aquaculture | Term Loan | Prime plus 2.75% | 8/31/2042 | 642.5 | 642.5 | 639.5 | 0.25 | % | ||||||||||||||||
| Bark Life, Inc. | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 8/31/2027 | 22.5 | 22.5 | 19.4 | 0.01 | % | ||||||||||||||||
| The Pink Alli, LLC dba The Alli | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 8/30/2027 | 18.0 | 18.0 | 16.1 | 0.01 | % | ||||||||||||||||
| Busby Outdoor LLC | Real Estate | Term Loan | Prime plus 2.75% | 8/29/2042 | 700.0 | 700.0 | 631.0 | 0.25 | % | ||||||||||||||||
| Busby Outdoor LLC | Real Estate | Term Loan | Prime plus 2.75% | 8/29/2042 | 550.0 | 550.0 | 495.8 | 0.19 | % | ||||||||||||||||
| Lake County Tow LLC | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 8/25/2042 | 87.5 | 87.5 | 87.0 | 0.03 | % | ||||||||||||||||
| Parlay Disributors LLC | Educational Services | Term Loan | Prime plus 2.75% | 8/25/2027 | 112.5 | 112.5 | 98.5 | 0.04 | % | ||||||||||||||||
| InUSA Ventures Inc dba InUSA Services | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 8/24/2027 | 25.0 | 25.0 | 21.5 | 0.01 | % | ||||||||||||||||
| Genuine Ventures LLC and Seaweed Ventures LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/24/2030 | 557.8 | 557.8 | 521.4 | 0.20 | % | ||||||||||||||||
| R & R Strength & Conditioning Corp dba Crossfit Light House Point | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 8/23/2042 | 82.5 | 82.5 | 87.1 | 0.03 | % | ||||||||||||||||
| Delicias de Minas Restaurant, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/22/2027 | 206.3 | 206.3 | 201.2 | 0.08 | % | ||||||||||||||||
| The Holder Grooup LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/22/2027 | 7.5 | 7.5 | 6.5 | — | % | ||||||||||||||||
| L&V Auto Sales, Inc. | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 8/21/2027 | 18.0 | 18.0 | 18.3 | 0.01 | % | ||||||||||||||||
| M.E. Interiors LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/21/2027 | 16.5 | 16.5 | 14.2 | 0.01 | % | ||||||||||||||||
| Damiano Global Corp | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/21/2027 | 22.5 | 22.5 | 21.1 | 0.01 | % | ||||||||||||||||
| Tier1Solutions, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/18/2027 | 18.8 | 18.8 | 16.8 | 0.01 | % | ||||||||||||||||
| NEWTEKONE, INC. AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) | |||||||||||||||||||||||||||||||||||||||||||||||
| (In Thousands, except for Per Share Data) | |||||||||||||||||||||||||||||||||||||||||||||||
| Common stock | Preferred stock | Additional paid-in capital | Accumulated other comprehensive income (loss) | Retained earnings | Total equity | ||||||||||||||||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2023 | 24,680 | $ | 492 | 20 | $ | 19,738 | $ | 200,913 | $ | (148) | $ | 28,051 | $ | 249,046 | |||||||||||||||||||||||||||||||||
| Stock-based compensation expense, net of forfeitures | — | — | — | — | 681 | — | — | 681 | |||||||||||||||||||||||||||||||||||||||
| Dividends declared related to RSA, net of accrued dividends forfeited | 6 | — | — | — | 73 | — | (73) | — | |||||||||||||||||||||||||||||||||||||||
| Purchase of vested stock for employee payroll tax withholding | (21) | — | — | — | (253) | — | — | (253) | |||||||||||||||||||||||||||||||||||||||
| Restricted stock awards, net of forfeitures | 45 | 1 | — | — | — | — | — | 1 | |||||||||||||||||||||||||||||||||||||||
| ESPP issuances | 5 | — | — | — | 56 | — | — | 56 | |||||||||||||||||||||||||||||||||||||||
| Amortization of offering costs | — | — | — | — | (39) | — | — | (39) | |||||||||||||||||||||||||||||||||||||||
| Dividends declared common shares ($0.19/share) | — | — | — | — | — | — | (4,617) | (4,617) | |||||||||||||||||||||||||||||||||||||||
| Dividends declared preferred shares ($20.00/share) | — | — | — | — | — | — | (400) | (400) | |||||||||||||||||||||||||||||||||||||||
| Net income (loss) | — | — | — | — | — | — | 9,650 | 9,650 | |||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss, net of tax | — | — | — | — | — | 7 | — | 7 | |||||||||||||||||||||||||||||||||||||||
| Balance at March 31, 2024 | 24,715 | $ | 493 | 20 | $ | 19,738 | $ | 201,431 | $ | (141) | $ | 32,611 | $ | 254,132 | |||||||||||||||||||||||||||||||||
| NEWTEKONE, INC. AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| (As Restated) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| (In Thousands, except for Per Share Data) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common stock | Preferred stock | Additional paid-in-capital | Accumulated other comprehensive income | Accumulated undistributed earnings | Retained earnings | Total equity | |||||||||||||||||||||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2022 | 24,609 | $ | 492 | — | $ | — | $ | 354,243 | $ | — | $ | 20,623 | $ | — | $ | 375,358 | |||||||||||||||||||||||||||||||||||||
| Conversion from BDC to Bank Holding Company Adjustments: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Change in presentation | — | — | — | — | 20,623 | — | (20,623) | — | — | ||||||||||||||||||||||||||||||||||||||||||||
| Removal of fair value adjustments | — | — | — | — | (138,043) | — | — | — | (138,043) | ||||||||||||||||||||||||||||||||||||||||||||
| Consolidation of controlled investments | — | — | — | 245 | (57,970) | — | — | — | (57,725) | ||||||||||||||||||||||||||||||||||||||||||||
| Reassessment of deferred tax assets and liabilities | — | — | — | — | 19,266 | — | — | — | 19,266 | ||||||||||||||||||||||||||||||||||||||||||||
| DRIP shares issued | 6 | — | — | — | 72 | — | — | — | 72 | ||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation expense, net of forfeitures | — | — | — | — | 738 | — | — | — | 738 | ||||||||||||||||||||||||||||||||||||||||||||
| Dividends declared related to RSA, net of accrued dividends forfeited | 5 | — | — | — | 59 | — | — | (59) | — | ||||||||||||||||||||||||||||||||||||||||||||
| Purchase of vested stock for employee payroll tax withholding | (11) | (1) | — | — | (428) | — | — | — | (429) | ||||||||||||||||||||||||||||||||||||||||||||
| Issuance of Preferred stock | — | — | 20 | 20,000 | — | — | — | — | 20,000 | ||||||||||||||||||||||||||||||||||||||||||||
| Preferred stock issuance costs | — | — | — | (507) | — | — | — | — | (507) | ||||||||||||||||||||||||||||||||||||||||||||
| Dividends declared common shares ($0.18/share) | — | — | — | — | — | — | — | (4,363) | (4,363) | ||||||||||||||||||||||||||||||||||||||||||||
| Dividends declared preferred shares ($12.27/share) | — | — | — | — | — | — | — | (249) | (249) | ||||||||||||||||||||||||||||||||||||||||||||
| Net income (loss) | — | — | — | — | — | — | — | 18,550 | 18,550 | ||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss, net of tax | — | — | — | — | — | (82) | — | — | (82) | ||||||||||||||||||||||||||||||||||||||||||||
| Balance at March 31, 2023 | 24,609 | $ | 491 | 20 | $ | 19,738 | $ | 198,560 | $ | (82) | $ | — | $ | 13,879 | $ | 232,586 | |||||||||||||||||||||||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Tony Herring & Associates, Inc | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 8/17/2027 | 7.5 | 7.5 | 6.5 | — | % | ||||||||||||||||
| Chester's World Enterprise LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 8/16/2027 | 22.5 | 22.5 | 20.3 | 0.01 | % | ||||||||||||||||
| D'Amato & Sons Construction, Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 8/11/2027 | 8.3 | 8.3 | 7.5 | — | % | ||||||||||||||||
| HTP LLC dba Hot Tomatoes Pizza | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/11/2027 | 11.3 | 11.3 | 10.5 | — | % | ||||||||||||||||
| Roundhay Partners LLC and Roundhay Farming LLC | Crop Production | Term Loan | Prime plus 2.75% | 8/8/2042 | 912.5 | 912.5 | 830.5 | 0.32 | % | ||||||||||||||||
| Splashlight LLC, Splashlight Photographic and Digital Studios, LLC | Management of Companies and Enterprises | Term Loan | Prime plus 2.75% | 8/7/2027 | 500.0 | 500.0 | 446.8 | 0.17 | % | ||||||||||||||||
| L & J Corporate Services Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/4/2027 | 7.5 | 7.4 | 6.5 | — | % | ||||||||||||||||
| Furniture Masters Limited Liability Company | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/3/2027 | 9.0 | 9.0 | 7.8 | — | % | ||||||||||||||||
| HMG Strategy LLC, | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/2/2027 | 50.0 | 50.0 | 43.1 | 0.02 | % | ||||||||||||||||
| Hope Health Care, LLC | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 7/31/2027 | 10.5 | 10.4 | 9.0 | — | % | ||||||||||||||||
| Bowl Mor LLC dba Bowl Mor Lanes | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/31/2027 | 7.5 | 7.5 | 6.4 | — | % | ||||||||||||||||
| Royal Blue Investments, Inc. and Cleland Pharmacy LLC | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 7/31/2042 | 53.0 | 52.9 | 54.7 | 0.02 | % | ||||||||||||||||
| Raffi's Inc dba Atlantic Auto Center | Repair and Maintenance | Term Loan | Prime plus 2.75% | 7/31/2027 | 14.3 | 14.2 | 14.1 | 0.01 | % | ||||||||||||||||
| Sharon G McMillen, MA Psychologist, Inc. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 7/28/2027 | 18.6 | 18.5 | 15.9 | 0.01 | % | ||||||||||||||||
| Work of Heart Inc.dba Little Nest Portraits | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/28/2027 | 50.0 | 21.4 | 18.7 | 0.01 | % | ||||||||||||||||
| HQTRONIC LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 7/27/2027 | 22.5 | 22.4 | 19.3 | 0.01 | % | ||||||||||||||||
| Oberon IT, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/26/2027 | 218.7 | 217.5 | 198.7 | 0.08 | % | ||||||||||||||||
| Gilles Peress Studio LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/25/2027 | 62.5 | 62.1 | 53.6 | 0.02 | % | ||||||||||||||||
| Ocean Trans LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 7/21/2027 | 37.5 | 37.3 | 32.1 | 0.01 | % | ||||||||||||||||
| NEWTEKONE, INC. AND SUBSIDIARIES | |||||||||||||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | |||||||||||||||||
| (In Thousands) | |||||||||||||||||
| Three Months Ended March 31, | |||||||||||||||||
| 2024 | 2023 | ||||||||||||||||
| (as restated) | |||||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||
| Net income | $ | 9,650 | $ | 18,550 | |||||||||||||
| Adjustments to reconcile net income to net cash used in operating activities: | |||||||||||||||||
| Net appreciation on joint ventures and non-control investments | (169) | (2,000) | |||||||||||||||
| Net gain on loans accounted for under the fair value option | (2,798) | (5,905) | |||||||||||||||
| Net unrealized depreciation (appreciation) on servicing assets | 1,735 | (919) | |||||||||||||||
| Net unrealized (appreciation) depreciation on derivative transactions | (592) | 495 | |||||||||||||||
| Net gain on sales of loans | (20,292) | (6,367) | |||||||||||||||
| Net accretion of premium/discount | (61) | — | |||||||||||||||
| Amortization of deferred financing costs | 987 | 1,249 | |||||||||||||||
| Provision for credit losses | 4,015 | (1,318) | |||||||||||||||
| Lower of cost or market adjustment on loans held for sale | 221 | — | |||||||||||||||
| Allowance for doubtful accounts | 167 | — | |||||||||||||||
| Stock compensation expense | 681 | 739 | |||||||||||||||
| Deferred income tax expense (benefit) | 2,513 | (11,739) | |||||||||||||||
| Depreciation and amortization | 532 | 791 | |||||||||||||||
| Proceeds from sale of loans held for sale | 184,332 | 121,575 | |||||||||||||||
| Sale (purchase) of loans held for sale from affiliate | 22,531 | (5,295) | |||||||||||||||
| Purchase of loans held for sale | — | (5,797) | |||||||||||||||
| Funding of loans held for sale | (255,727) | (156,742) | |||||||||||||||
| Principal received on loans held for sale | 1,638 | 1,347 | |||||||||||||||
| Other, net | — | 180 | |||||||||||||||
| Changes in operating assets and liabilities: | |||||||||||||||||
| Settlement receivable | 5,340 | (41,427) | |||||||||||||||
| Capitalized servicing asset | — | (2,164) | |||||||||||||||
| Other assets | (1,430) | 6,692 | |||||||||||||||
| Dividends payable | 246 | — | |||||||||||||||
| Due to participants | 2,852 | (7,447) | |||||||||||||||
| Accounts payable, accrued expenses and other liabilities | 4,955 | (20,816) | |||||||||||||||
| Other, net | — | (41) | |||||||||||||||
| Net cash used in operating activities | (38,674) | (116,359) | |||||||||||||||
| Cash flows from investing activities: | |||||||||||||||||
| Net decrease (increase) in loans held for investment, at fair value | 21,688 | (7,595) | |||||||||||||||
| Net (increase) decrease in loans held for investment, at cost | (62,123) | 269 | |||||||||||||||
| Contributions to joint ventures | (7,243) | — | |||||||||||||||
| Purchase of fixed assets | (57) | (165) | |||||||||||||||
| Return of capital - non-control investments | 24 | — | |||||||||||||||
| Net (increase) decrease in Federal Home Loan and Federal Reserve Bank stock | (138) | 242 | |||||||||||||||
| Sales (purchases) of available-for-sale securities, net of maturities | 4,044 | (27,901) | |||||||||||||||
| Acquisitions, net of cash acquired | — | 11,252 | |||||||||||||||
| Net cash used in investing activities | (43,805) | (23,898) | |||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Obok LLC | Food Manufacturing | Term Loan | Prime plus 2.75% | 7/21/2027 | 12.0 | 11.9 | 11.1 | — | % | ||||||||||||||||
| Lil Tots' Learning Center LLC | Social Assistance | Term Loan | Prime plus 2.75% | 7/21/2042 | 47.5 | 47.4 | 47.2 | 0.02 | % | ||||||||||||||||
| Nova Solutions, Inc. | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 7/19/2027 | 25.0 | 24.9 | 24.3 | 0.01 | % | ||||||||||||||||
| Webb Eye Associates, PA | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 7/19/2027 | 73.8 | 73.3 | 69.5 | 0.03 | % | ||||||||||||||||
| Matrix Z LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 3.75% | 7/19/2027 | 7.5 | 7.5 | 7.6 | — | % | ||||||||||||||||
| Aitheras Aviation Group, LLC, Aitheras Aviation Group, LLC | Air Transportation | Term Loan | Prime plus 2.75% | 7/18/2027 | 825.0 | 819.9 | 711.5 | 0.28 | % | ||||||||||||||||
| Wildflour Bakery & Cafe, LLC | Food Manufacturing | Term Loan | Prime plus 2.75% | 7/17/2027 | 22.5 | 22.4 | 22.7 | 0.01 | % | ||||||||||||||||
| Florida Home and Kitchen LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/14/2027 | 12.0 | 11.9 | 10.3 | — | % | ||||||||||||||||
| Koep Companies dba Pipestone True value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 7/14/2042 | 326.5 | 326.1 | 318.4 | 0.12 | % | ||||||||||||||||
| Rocks Auto Exchange LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 7/13/2027 | 15.0 | 14.9 | 12.9 | 0.01 | % | ||||||||||||||||
| McCord Holdings, Inc. dba Fast Signs 176101 | Administrative and Support Services | Term Loan | Prime plus 2.75% | 7/7/2027 | 18.7 | 18.6 | 16.4 | 0.01 | % | ||||||||||||||||
| Thrifty Market Inc dba Thrifty Foods | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 7/6/2027 | 102.5 | 101.9 | 92.1 | 0.04 | % | ||||||||||||||||
| New Chicago Wholesale Bakery Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 6/30/2027 | 15.0 | 14.8 | 14.2 | 0.01 | % | ||||||||||||||||
| The Country House Restaurant, LLC and Pelton Real Estate, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2042 | 50.0 | 49.9 | 51.4 | 0.02 | % | ||||||||||||||||
| Qycell Corporation | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 6/30/2027 | 76.3 | 75.4 | 76.6 | 0.03 | % | ||||||||||||||||
| Bone Bar & Grill LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2042 | 73.5 | 73.4 | 75.0 | 0.03 | % | ||||||||||||||||
| J. T. O'Neill Company, L.L.C | Real Estate | Term Loan | Prime plus 2.75% | 6/30/2027 | 15.0 | 14.8 | 12.8 | 0.01 | % | ||||||||||||||||
| Hamilton & Associates Real Estate and Investments Firm LLC | Real Estate | Term Loan | Prime plus 2.75% | 6/30/2042 | 54.0 | 53.9 | 54.5 | 0.02 | % | ||||||||||||||||
| J&M Civil Construction Services LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/30/2027 | 100.0 | 98.8 | 85.1 | 0.03 | % | ||||||||||||||||
| BQRS, Inc. DBA Gresham Meineke Car Care Center | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/30/2027 | 62.5 | 61.8 | 54.3 | 0.02 | % | ||||||||||||||||
| NEWTEKONE, INC. AND SUBSIDIARIES | |||||||||||||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | |||||||||||||||||
| (In Thousands) | |||||||||||||||||
| Three Months Ended March 31, | |||||||||||||||||
| 2024 | 2023 | ||||||||||||||||
| (as restated) | |||||||||||||||||
| Cash flows from financing activities: | |||||||||||||||||
| Net borrowings on bank notes payable | 43,814 | 47,274 | |||||||||||||||
| Net increase in deposits | 49,098 | 105,933 | |||||||||||||||
| Repayment of Federal Home Loan Bank advances | (3,484) | (3,699) | |||||||||||||||
| Proceeds from preferred stock, net of offering costs | — | 19,493 | |||||||||||||||
| Proceeds from 2025 8.125% Notes | — | 50,000 | |||||||||||||||
| Payments on Notes Payable - Securitization Trusts | (22,954) | (31,015) | |||||||||||||||
| Dividends paid, net of dividend reinvestment plan | (4,771) | — | |||||||||||||||
| Payments of deferred financing costs | (24) | (1,087) | |||||||||||||||
| Net cash provided by financing activities | 61,679 | 186,899 | |||||||||||||||
| Net (decrease) increase in cash and restricted cash | (20,800) | 46,642 | |||||||||||||||
| Cash and restricted cash—beginning of period (Note 2) | 184,006 | 125,606 | |||||||||||||||
| Consolidation of cash and restricted cash from controlled investments and business combinations, net of cash paid | — | 24,896 | |||||||||||||||
| Cash and restricted cash—end of period (Note 2) | $ | 163,206 | $ | 197,144 | |||||||||||||
| Non-cash operating, investing and financing activities: | |||||||||||||||||
| Foreclosed real estate acquired | $ | 1,447 | $ | 694 | |||||||||||||
| Dividends declared but not paid during the period | $ | 4,617 | $ | 4,363 | |||||||||||||
| Issuance of common shares under dividend reinvestment plan | $ | — | $ | 72 | |||||||||||||
| Supplemental disclosure of cash flow information: | |||||||||||||||||
| Interest paid | $ | 19,079 | $ | 12,259 | |||||||||||||
| Income taxes paid | $ | 73 | $ | 4,539 | |||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| JWH Designs, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/30/2027 | 106.3 | 105.0 | 90.4 | 0.04 | % | ||||||||||||||||
| Safeguard Construction Company, Inc. | Construction of Buildings | Term Loan | Prime plus 2.75% | 6/30/2027 | 76.3 | 75.4 | 64.9 | 0.03 | % | ||||||||||||||||
| Veola's Day Spa and Wellness Center Inc. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/30/2027 | 9.1 | 9.0 | 8.1 | — | % | ||||||||||||||||
| Steigelbauer Associates Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/29/2027 | 309.0 | 305.4 | 310.4 | 0.12 | % | ||||||||||||||||
| Best Bees Company | Animal Production and Aquaculture | Term Loan | Prime plus 2.75% | 6/29/2027 | 22.5 | 22.2 | 19.2 | 0.01 | % | ||||||||||||||||
| Greensboro Plastic Surgical Associates, PA | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/29/2042 | 578.0 | 576.9 | 572.0 | 0.22 | % | ||||||||||||||||
| Ocean Trans LLC and Dehal Trucking LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 6/29/2027 | 602.5 | 595.5 | 512.9 | 0.20 | % | ||||||||||||||||
| HG Ventures, Inc. dba Diamond Head Trucking | Truck Transportation | Term Loan | Prime plus 2.75% | 6/29/2030 | 1,006.7 | 1,000.4 | 870.4 | 0.34 | % | ||||||||||||||||
| Malhame & Company Publishers & Importers Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 6/29/2027 | 90.0 | 89.1 | 76.9 | 0.03 | % | ||||||||||||||||
| Intellixion LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/29/2027 | 3.7 | 3.7 | 3.2 | — | % | ||||||||||||||||
| Oakhill Farms, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/29/2030 | 100.0 | 99.2 | 101.0 | 0.04 | % | ||||||||||||||||
| ElKareh Brothers Investment, LLC (OC) Best Choice Meats Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 6/29/2027 | 448.7 | 443.5 | 450.8 | 0.18 | % | ||||||||||||||||
| Miguel Fernando Borda PA dba BGR Dental | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/29/2027 | 50.0 | 49.4 | 44.2 | 0.02 | % | ||||||||||||||||
| Foxhop Fitness, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/28/2027 | 91.3 | 91.3 | 79.4 | 0.03 | % | ||||||||||||||||
| Akal Express Inc. dba Truck Trailer Service Stop | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/28/2042 | 60.0 | 59.8 | 61.9 | 0.02 | % | ||||||||||||||||
| Old Dominion Transportation Group, Inc. | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 6/28/2027 | 1,133.9 | 1,121.1 | 987.3 | 0.39 | % | ||||||||||||||||
| Citibin, Inc. | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 6/27/2027 | 125.0 | 123.5 | 106.4 | 0.04 | % | ||||||||||||||||
| Auxiliary Systems Inc.,Sharrick Company, LLC & KMN, LLC | Transportation Equipment Manufacturing | Term Loan | Prime plus 2.75% | 6/27/2030 | 245.3 | 243.3 | 241.9 | 0.09 | % | ||||||||||||||||
| WB Cleaners Inc. DBA $2.75 Cleaners | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/27/2027 | 22.5 | 22.2 | 21.9 | 0.01 | % | ||||||||||||||||
| Four Seasons Laser Center Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/26/2042 | 216.3 | 216.3 | 215.8 | 0.08 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Ains Holding Company, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/26/2027 | 1,175.0 | 1,161.7 | 1,023.7 | 0.40 | % | ||||||||||||||||
| Rustic LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/23/2042 | 18.8 | 18.7 | 16.8 | 0.01 | % | ||||||||||||||||
| Vella Construction Enterprises, Inc. dba Vella Construction | Construction of Buildings | Term Loan | Prime plus 2.75% | 6/23/2027 | 22.5 | 22.2 | 19.2 | 0.01 | % | ||||||||||||||||
| Northern Industries, LLC | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 6/23/2042 | 57.8 | 57.6 | 60.8 | 0.02 | % | ||||||||||||||||
| Birches Group, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/22/2027 | 50.0 | 49.4 | 42.6 | 0.02 | % | ||||||||||||||||
| Tarver-Henley Inc. and Tar-Hen LLC | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 6/21/2042 | 320.0 | 319.2 | 316.6 | 0.12 | % | ||||||||||||||||
| 704 Meat Center Inc. dba El Mercado and La Plaza Mercado | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/20/2042 | 175.0 | 174.5 | 180.4 | 0.07 | % | ||||||||||||||||
| Sanabi Investment ,,LLC dba Oscar's Moving and Storage | Truck Transportation | Term Loan | Prime plus 2.75% | 6/20/2027 | 124.0 | 122.6 | 111.2 | 0.04 | % | ||||||||||||||||
| Scarlet Spartan Inc.dba FastSigns of Brighton | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/19/2027 | 55.0 | 55.0 | 48.5 | 0.02 | % | ||||||||||||||||
| Don G. Timpton DDS & Associates PA and Indsaad Properties,LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/16/2042 | 400.0 | 399.0 | 383.4 | 0.15 | % | ||||||||||||||||
| JAM Media Solutions, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/15/2027 | 62.5 | 61.8 | 53.2 | 0.02 | % | ||||||||||||||||
| All Regional Recyclers of Wood LLC dba ARROW,Superior Carting, LLC | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 6/15/2042 | 314.0 | 313.3 | 309.2 | 0.12 | % | ||||||||||||||||
| Tele Tax Express Inc., El Rancho Paiso, LLC and Nestor Romero | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/14/2042 | 92.5 | 92.3 | 94.9 | 0.04 | % | ||||||||||||||||
| Susan Hughes dba Aloha Junction B and B | Accommodation | Term Loan | Prime plus 2.75% | 6/14/2042 | 62.5 | 61.9 | 65.3 | 0.03 | % | ||||||||||||||||
| ESA 365 Corp and Lucathor Realty LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/14/2042 | 22.5 | 22.4 | 22.7 | 0.01 | % | ||||||||||||||||
| Hull's Kitchen, LLC and HK Too, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/14/2042 | 96.3 | 96.2 | 100.8 | 0.04 | % | ||||||||||||||||
| Yachting Solutions LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 6/12/2027 | 118.8 | 117.4 | 110.2 | 0.04 | % | ||||||||||||||||
| Refoleen Inc dba Spice and Tea Exchange | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/8/2027 | 3.5 | 3.5 | 3.0 | — | % | ||||||||||||||||
| Earth First Recycling, LLC and 191 Clark Road, LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 6/5/2027 | 354.5 | 352.3 | 351.6 | 0.14 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Skydive California, LLC | Educational Services | Term Loan | Prime plus 2.75% | 6/2/2027 | 55.0 | 54.5 | 55.4 | 0.02 | % | ||||||||||||||||
| SCW, LLC dba Arthur Murray Dance Studio | Educational Services | Term Loan | Prime plus 2.75% | 6/2/2042 | 146.0 | 145.6 | 145.6 | 0.06 | % | ||||||||||||||||
| Speaker City, Inc.and Speaker Town, LLC dba Rollin Thunder | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 6/1/2042 | 45.6 | 45.5 | 46.3 | 0.02 | % | ||||||||||||||||
| Sage Oil LLC | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 5/31/2027 | 22.5 | 22.1 | 19.0 | 0.01 | % | ||||||||||||||||
| Impact Grounds Maintenance and Design, Inc.dba Impact Landscaping | Administrative and Support Services | Term Loan | Prime plus 2.75% | 5/31/2042 | 79.4 | 79.2 | 82.1 | 0.03 | % | ||||||||||||||||
| Ricnet III, Inc. dba Edible Arrangements | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 5/31/2027 | 15.0 | 14.6 | 12.8 | 0.01 | % | ||||||||||||||||
| Funtime, LLC and Universal Entertainment Group LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 5/31/2027 | 66.2 | 65.1 | 57.0 | 0.02 | % | ||||||||||||||||
| Haroon Baig,Inc.dba US1 Petrol | Gasoline Stations | Term Loan | Prime plus 2.75% | 5/31/2042 | 264.0 | 263.0 | 277.5 | 0.11 | % | ||||||||||||||||
| Eagle Wood Works LLC | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 5/26/2027 | 12.0 | 11.8 | 10.8 | — | % | ||||||||||||||||
| Hurricane Group, Inc. | Other Information Services | Term Loan | Prime plus 2.75% | 5/26/2027 | 75.0 | 73.7 | 63.5 | 0.02 | % | ||||||||||||||||
| Mitchell Auto Repair, LLC and and C&M Mitchell, LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/26/2042 | 193.2 | 193.0 | 197.3 | 0.08 | % | ||||||||||||||||
| Swantown Inn & Spa LLC | Accommodation | Term Loan | Prime plus 2.75% | 5/26/2042 | 116.0 | 28.4 | 30.0 | 0.01 | % | ||||||||||||||||
| Chet Lemon Enterprises LLC dba All American Sports | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 5/26/2042 | 792.5 | 789.4 | 833.0 | 0.33 | % | ||||||||||||||||
| Demand Printing Solutions Inc. | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 5/25/2027 | 213.3 | 209.5 | 197.3 | 0.08 | % | ||||||||||||||||
| Beyond Waves A Unique Salon LLC and Lori Ann Carlson | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 5/25/2027 | 15.0 | 14.7 | 12.8 | 0.01 | % | ||||||||||||||||
| Jung Design Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 5/25/2027 | 9.0 | 8.8 | 7.6 | — | % | ||||||||||||||||
| Locavore LLC dba Paloma Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/25/2027 | 50.0 | 49.1 | 43.9 | 0.02 | % | ||||||||||||||||
| Abdul Naushad MD PC dba Advanced Pain Centers | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 5/25/2042 | 393.8 | 392.2 | 403.0 | 0.16 | % | ||||||||||||||||
| Shaffer Automotive Repair, LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/24/2030 | 135.8 | 134.1 | 125.5 | 0.05 | % | ||||||||||||||||
| Juliador Resources LLC DBA Cue Hair Salon and Skin Care | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 5/24/2027 | 22.5 | 22.1 | 19.0 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Innovim, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 5/24/2027 | 337.5 | 331.5 | 285.5 | 0.11 | % | ||||||||||||||||
| Southeast Recycling, LLC and Southeast Land Holdings LLC dba 67 Motor | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 5/23/2042 | 181.4 | 180.7 | 188.8 | 0.07 | % | ||||||||||||||||
| Gill Express Inc. and Gill Express 2 LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/23/2042 | 338.7 | 337.4 | 333.6 | 0.13 | % | ||||||||||||||||
| Prestige Construction of Florida, LLC | Construction of Buildings | Term Loan | Prime plus 2.75% | 5/23/2042 | 336.4 | 335.1 | 326.1 | 0.13 | % | ||||||||||||||||
| Enfield Tractor & Equipment Co. | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 5/19/2027 | 296.3 | 291.2 | 278.7 | 0.11 | % | ||||||||||||||||
| PS Camping, Inc. dba Prospectors RV Resort | Accommodation | Term Loan | Prime plus 2.75% | 5/19/2042 | 257.7 | 256.7 | 269.3 | 0.11 | % | ||||||||||||||||
| GEM2K, LLC dba Precision Precast Group | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 5/19/2027 | 162.5 | 159.6 | 143.2 | 0.06 | % | ||||||||||||||||
| Hayden Trucking LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 5/19/2027 | 262.5 | 257.9 | 237.8 | 0.09 | % | ||||||||||||||||
| Tres K Deli,Grocery,Fruit and Meat Inc. | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 5/19/2027 | 8.3 | 8.1 | 7.5 | — | % | ||||||||||||||||
| Iron Men Home Repair, Inc. and Ironmen House Lifting Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 5/19/2042 | 582.5 | 580.2 | 585.6 | 0.23 | % | ||||||||||||||||
| J Harris Trucking LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 5/19/2027 | 19.5 | 19.2 | 18.2 | 0.01 | % | ||||||||||||||||
| New Image Building Services, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 5/18/2027 | 150.8 | 148.1 | 132.4 | 0.05 | % | ||||||||||||||||
| Bay Car Wash LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/18/2042 | 120.7 | 120.3 | 121.7 | 0.05 | % | ||||||||||||||||
| Mr. B's Bicycles & Mopeds, Inc. | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 5/18/2042 | 146.7 | 146.2 | 146.7 | 0.06 | % | ||||||||||||||||
| Waterford Plumbing Co, Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 5/18/2027 | 50.0 | 49.1 | 43.1 | 0.02 | % | ||||||||||||||||
| Computech Computers Inc. | Educational Services | Term Loan | Prime plus 2.75% | 5/17/2027 | 50.0 | 49.1 | 42.3 | 0.02 | % | ||||||||||||||||
| Arco Electrical Contractors Inc. dba Arco Construction Group | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 5/16/2027 | 360.0 | 353.6 | 325.1 | 0.13 | % | ||||||||||||||||
| 5 Stars Learning Center Inc | Social Assistance | Term Loan | Prime plus 2.75% | 5/16/2042 | 61.8 | 61.5 | 61.9 | 0.02 | % | ||||||||||||||||
| Batter & Company,LLC dba Batter Co. Dessert Collection | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 5/16/2027 | 53.8 | 52.8 | 46.5 | 0.02 | % | ||||||||||||||||
| Band Sawn Lumber,LLC and Nathan Ryan Adams | Wood Product Manufacturing | Term Loan | Prime plus 2.75% | 5/15/2042 | 113.8 | 113.3 | 111.6 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Keys Armored Express, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 5/12/2027 | 40.0 | 39.3 | 35.3 | 0.01 | % | ||||||||||||||||
| Sanderson Distribution Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 5/12/2027 | 10.5 | 10.3 | 8.9 | — | % | ||||||||||||||||
| SG Linke LLC | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 5/12/2027 | 108.3 | 108.3 | 106.3 | 0.04 | % | ||||||||||||||||
| B G F Bobby Q's Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/11/2027 | 7.5 | 7.4 | 7.2 | — | % | ||||||||||||||||
| Estelle Finkel Educational Associates,LLC | Educational Services | Term Loan | Prime plus 2.75% | 5/11/2027 | 118.7 | 117.8 | 101.5 | 0.04 | % | ||||||||||||||||
| Labmates,LLC | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 5/10/2027 | 100.0 | 98.2 | 93.9 | 0.04 | % | ||||||||||||||||
| NHS, LLC | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 5/9/2027 | 88.5 | 86.9 | 78.2 | 0.03 | % | ||||||||||||||||
| NHS, LLC | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 5/9/2042 | 21.9 | 21.8 | 20.5 | 0.01 | % | ||||||||||||||||
| Innovation Transport, LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 5/9/2027 | 86.3 | 84.7 | 80.0 | 0.03 | % | ||||||||||||||||
| 1872 Rosecrans, LLC dba Goodbar | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/9/2027 | 62.5 | 62.2 | 54.0 | 0.02 | % | ||||||||||||||||
| Arclay ,LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 5/5/2030 | 145.9 | 144.1 | 132.8 | 0.05 | % | ||||||||||||||||
| Benchmark Building, Inc. | Construction of Buildings | Term Loan | Prime plus 2.75% | 5/5/2027 | 22.5 | 22.1 | 19.0 | 0.01 | % | ||||||||||||||||
| Cable Management LLC | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 5/3/2027 | 59.6 | 58.5 | 54.9 | 0.02 | % | ||||||||||||||||
| Fine Arts Center of Easley, Inc. dba Midtown Music | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 5/2/2042 | 116.3 | 116.1 | 122.5 | 0.05 | % | ||||||||||||||||
| Zahmel Restaurant Suppliers Corp dba Cash & Carry | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 4/28/2027 | 88.8 | 86.6 | 75.6 | 0.03 | % | ||||||||||||||||
| Love and Glory Learning Center, Inc. | Social Assistance | Term Loan | Prime plus 2.75% | 4/28/2042 | 78.0 | 77.6 | 77.1 | 0.03 | % | ||||||||||||||||
| Georgia Productions Services LLC | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 4/28/2027 | 91.2 | 89.1 | 81.8 | 0.03 | % | ||||||||||||||||
| JMA Inc. dba Primecut and Mezzo; Primecut at Marquee | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/27/2042 | 222.5 | 221.3 | 233.6 | 0.09 | % | ||||||||||||||||
| Sneads Ferry Foods, Inc. dba DQ Grill & Chill | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/27/2042 | 618.3 | 330.0 | 348.2 | 0.14 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Asheville's Fun Depot, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/26/2027 | 87.5 | 85.4 | 86.8 | 0.03 | % | ||||||||||||||||
| Carl Joseph Johnston dba Viking Transport | Truck Transportation | Term Loan | Prime plus 2.75% | 4/26/2027 | 53.3 | 31.8 | 30.1 | 0.01 | % | ||||||||||||||||
| Resident Research, LLC | Other Information Services | Term Loan | Prime plus 2.75% | 4/24/2027 | 100.0 | 97.6 | 84.1 | 0.03 | % | ||||||||||||||||
| Getting Even LLC dba The Zoo Health Club | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/21/2027 | 7.5 | 7.3 | 6.6 | — | % | ||||||||||||||||
| Ralph's Hair Salon, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 4/21/2042 | 50.0 | 49.7 | 50.6 | 0.02 | % | ||||||||||||||||
| M.E. Interiors LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/20/2027 | 139.2 | 135.9 | 117.0 | 0.05 | % | ||||||||||||||||
| MJ and M Home Improvements LLC DBA House Doctors | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/20/2027 | 20.5 | 20.0 | 17.6 | 0.01 | % | ||||||||||||||||
| Condron Brothers LLC DBA Luv 2 Play | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/19/2027 | 116.0 | 116.0 | 105.0 | 0.04 | % | ||||||||||||||||
| Affordable Auto Transport LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 4/17/2027 | 12.8 | 12.4 | 11.6 | — | % | ||||||||||||||||
| Carpeteria (Markarian) Co. | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 4/13/2027 | 132.8 | 129.7 | 128.6 | 0.05 | % | ||||||||||||||||
| Bloomer Machine & Fab, Inc and Dale Stertz Properties | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 4/13/2042 | 205.5 | 204.4 | 210.6 | 0.08 | % | ||||||||||||||||
| Butternuts Beer and Ale LLC | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 4/12/2027 | 73.7 | 72.0 | 73.2 | 0.03 | % | ||||||||||||||||
| Citizens Lanes, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/31/2042 | 619.4 | 616.1 | 648.1 | 0.25 | % | ||||||||||||||||
| The Altitude Group, LLC and Core Home Security, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/31/2027 | 50.0 | 48.6 | 41.4 | 0.02 | % | ||||||||||||||||
| Golden Hen Inc. dba Cafe | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/31/2027 | 64.8 | 62.9 | 54.4 | 0.02 | % | ||||||||||||||||
| Shelter Harbor Inn, Inc. | Accommodation | Term Loan | Prime plus 2.75% | 3/31/2042 | 207.5 | 206.4 | 217.1 | 0.08 | % | ||||||||||||||||
| Landmark Ventures USA, Inc. | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 3/31/2027 | 187.5 | 182.1 | 155.4 | 0.06 | % | ||||||||||||||||
| MIT LLC | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 3/31/2042 | 87.5 | 87.0 | 91.6 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Applied Integrated Technologies, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/31/2027 | 125.0 | 121.4 | 103.7 | 0.04 | % | ||||||||||||||||
| Bear Trail Lodge LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/31/2042 | 552.5 | 549.6 | 571.2 | 0.22 | % | ||||||||||||||||
| KWG Industries LLC dba Peterson & Marsh Metal Industries | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 3/30/2027 | 30.0 | 29.1 | 28.4 | 0.01 | % | ||||||||||||||||
| Sea Smoke Barbeque, Corp and Danwen LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/30/2042 | 236.5 | 233.6 | 235.0 | 0.09 | % | ||||||||||||||||
| Signature Rooms, Inc dba Gallery Furniture | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 3/30/2042 | 495.8 | 493.1 | 514.8 | 0.20 | % | ||||||||||||||||
| Schafer Fisheries Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 3/30/2042 | 258.6 | 251.5 | 257.2 | 0.10 | % | ||||||||||||||||
| Douglas K. Soderblom . dba Loma Linda Optometry | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/29/2027 | 100.0 | 97.1 | 87.3 | 0.03 | % | ||||||||||||||||
| Discount Price, LLC dba Robert's Market | Gasoline Stations | Term Loan | Prime plus 2.75% | 3/29/2042 | 206.3 | 205.2 | 208.2 | 0.08 | % | ||||||||||||||||
| First Sail Group Inc. and Omen Board Industires LLC | Nonstore Retailers | Term Loan | Prime plus 2.75% | 3/29/2027 | 20.0 | 19.4 | 17.8 | 0.01 | % | ||||||||||||||||
| Gauri Hospitality Group LLC dba Microtel Inns & Suites by Wyndham | Accommodation | Term Loan | Prime plus 2.75% | 3/29/2042 | 1,056.3 | 1,050.6 | 1,096.2 | 0.43 | % | ||||||||||||||||
| H and H Hotshot Services, Inc. dba AA Hotshot & Logistics | Couriers and Messengers | Term Loan | Prime plus 2.75% | 3/29/2030 | 97.5 | 95.6 | 82.5 | 0.03 | % | ||||||||||||||||
| New England Country Day School, Inc. and Thomas D. Walker | Social Assistance | Term Loan | Prime plus 2.75% | 3/28/2042 | 362.8 | 362.6 | 364.1 | 0.14 | % | ||||||||||||||||
| American Pharmaceutical Innovation Company, LLC | Chemical Manufacturing | Term Loan | Prime plus 2.75% | 3/28/2027 | 30.0 | 29.1 | 25.0 | 0.01 | % | ||||||||||||||||
| Heil & Hornik LLC dba Elysium Tennis | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/27/2042 | 928.6 | 923.6 | 921.1 | 0.36 | % | ||||||||||||||||
| Pecos Entertainment LLC dba State Theater and Pecos Inn LLC | Motion Picture and Sound Recording Industries | Term Loan | Prime plus 2.75% | 3/27/2042 | 582.9 | 137.2 | 144.3 | 0.06 | % | ||||||||||||||||
| Ericon Inc. dba Quik Pik | Gasoline Stations | Term Loan | Prime plus 2.75% | 3/24/2027 | 62.5 | 60.7 | 58.3 | 0.02 | % | ||||||||||||||||
| Robert Dixon PA dba Law Offices of Robert Dixon | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/24/2042 | 435.5 | 424.2 | 443.0 | 0.17 | % | ||||||||||||||||
| Denton Bio Fuels LLC and American Bio Source LLC | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 3/23/2027 | 59.3 | 57.5 | 52.3 | 0.02 | % | ||||||||||||||||
| Color Graphic Press, Inc. | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 3/23/2027 | 120.0 | 116.5 | 118.0 | 0.05 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| JBK Truck Trailer and Bus Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/23/2042 | 88.8 | 78.8 | 79.5 | 0.03 | % | ||||||||||||||||
| Executive Fitness & Nutrition Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/23/2027 | 20.3 | 19.7 | 19.2 | 0.01 | % | ||||||||||||||||
| Baton Rouge Cargo Services Inc. and 6507 Westport, LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 3/22/2042 | 643.0 | 639.6 | 656.4 | 0.26 | % | ||||||||||||||||
| Vehicle Safety supply LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 3/21/2027 | 22.5 | 21.8 | 18.7 | 0.01 | % | ||||||||||||||||
| J Sivilis LLC dba Pet Wants | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/17/2027 | 12.3 | 12.0 | 10.5 | — | % | ||||||||||||||||
| Reservoir International LLC | Educational Services | Term Loan | Prime plus 2.75% | 3/16/2027 | 100.0 | 97.1 | 89.8 | 0.04 | % | ||||||||||||||||
| The Purple Cow House of Pancake Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/16/2042 | 162.5 | 160.9 | 169.2 | 0.07 | % | ||||||||||||||||
| Texcor, Inc.dba Texas Corral,Texas Coral Restaurants II, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/16/2027 | 300.0 | 291.4 | 295.2 | 0.12 | % | ||||||||||||||||
| Alive Design, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/13/2027 | 22.5 | 22.0 | 18.8 | 0.01 | % | ||||||||||||||||
| 1MTX LLC and Sunrise Transportation and Logistics, LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 3/13/2027 | 702.8 | 683.0 | 583.0 | 0.23 | % | ||||||||||||||||
| Dwayne Bernard Tate | Truck Transportation | Term Loan | Prime plus 2.75% | 3/10/2027 | 10.5 | 10.2 | 9.3 | — | % | ||||||||||||||||
| Elegant Occasions, LLC dba E Productions | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/10/2042 | 588.2 | 586.1 | 587.5 | 0.23 | % | ||||||||||||||||
| Anthony LLC dba Star of Woodward Market | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/9/2042 | 115.0 | 114.5 | 120.4 | 0.05 | % | ||||||||||||||||
| E & P Holdings 1 LLC and Evans & Paul Unlimited Corp. | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 3/9/2027 | 125.0 | 121.4 | 106.1 | 0.04 | % | ||||||||||||||||
| Allegro Assisted Living Of Texas | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 3/6/2027 | 96.0 | 93.2 | 94.4 | 0.04 | % | ||||||||||||||||
| Robbie E. Bakery and Cafe LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/3/2027 | 62.5 | 60.7 | 51.8 | 0.02 | % | ||||||||||||||||
| Podium Auto Sales Inc and RRS Property, LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 3/3/2042 | 90.7 | 90.3 | 89.8 | 0.04 | % | ||||||||||||||||
| SSI Refrigerated Express Inc. and Robert M Stallone dba SSI Express | Truck Transportation | Term Loan | Prime plus 2.75% | 2/28/2027 | 235.5 | 227.3 | 194.1 | 0.08 | % | ||||||||||||||||
| Weeping Willow Kennels, Inc and Aileen N Black | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/28/2042 | 140.0 | 139.1 | 141.5 | 0.06 | % | ||||||||||||||||
| Getting Even LLC dba The Zoo Health Club | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/28/2027 | 96.3 | 92.9 | 82.7 | 0.03 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Total Document Solutions Inc and,TDS Services, LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 2/27/2030 | 312.5 | 305.1 | 279.9 | 0.11 | % | ||||||||||||||||
| Teracore Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 2/27/2027 | 163.7 | 158.0 | 134.9 | 0.05 | % | ||||||||||||||||
| John Finn Associates LLC, Greenslate LLC, Finn Technology, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 2/27/2027 | 675.0 | 651.3 | 623.5 | 0.24 | % | ||||||||||||||||
| McNally Enterprises Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 2/27/2027 | 65.0 | 62.7 | 55.8 | 0.02 | % | ||||||||||||||||
| B & J Bicycle Shop Inc. | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 2/24/2027 | 15.0 | 14.5 | 14.7 | 0.01 | % | ||||||||||||||||
| 3W Enterprises LLC | Textile Product Mills | Term Loan | Prime plus 2.75% | 2/24/2042 | 81.8 | 81.2 | 81.5 | 0.03 | % | ||||||||||||||||
| TMJ Pizza Mesa LLC dba Rosati's Pizza Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/24/2027 | 106.3 | 103.7 | 96.4 | 0.04 | % | ||||||||||||||||
| Victorian Restaurant and Tavern, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/22/2042 | 107.5 | 106.8 | 104.7 | 0.04 | % | ||||||||||||||||
| DER Services, LLC dba A.K.A. Sports | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 2/17/2042 | 40.0 | 39.8 | 41.8 | 0.02 | % | ||||||||||||||||
| Bike Slug, LLC, Bike Slug Holdings Inc. and Seven Rivers Group ,LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 2/17/2027 | 19.5 | 18.8 | 16.1 | 0.01 | % | ||||||||||||||||
| Ameritube, LLC and Ravone Properties, LLC | Primary Metal Manufacturing | Term Loan | Prime plus 2.75% | 2/14/2042 | 185.0 | 183.8 | 193.4 | 0.08 | % | ||||||||||||||||
| R&S Barnes Enterprises, Inc. dba Massage Envy Spa | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/10/2027 | 93.8 | 90.5 | 78.2 | 0.03 | % | ||||||||||||||||
| Baton Rouge Cargo Services Inc. and 2808 Court Street, LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 2/10/2042 | 247.5 | 245.8 | 252.3 | 0.10 | % | ||||||||||||||||
| Sushiya Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/10/2027 | 18.8 | 18.1 | 16.0 | 0.01 | % | ||||||||||||||||
| Select Propane & Fuel Inc. and Select Fuel & Convenience LLC | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 2/10/2030 | 1,250.0 | 1,222.6 | 1,121.1 | 0.44 | % | ||||||||||||||||
| Maximo Canot dba Wash and Dry Laundrymat | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/10/2042 | 137.5 | 136.7 | 140.7 | 0.06 | % | ||||||||||||||||
| Marvic Enterprises Inc dba Jordan's Liquor | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 2/10/2042 | 219.0 | 217.6 | 221.8 | 0.09 | % | ||||||||||||||||
| Harrison Logging Company LLC | Forestry and Logging | Term Loan | Prime plus 2.75% | 2/9/2027 | 106.3 | 102.5 | 92.6 | 0.04 | % | ||||||||||||||||
| 8 Minute Oil Change Auto Repair & Tire Center and Jumir L.L.C. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 2/7/2042 | 327.5 | 325.5 | 319.9 | 0.13 | % | ||||||||||||||||
| Christopher Borgia | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/6/2027 | 12.9 | 12.5 | 10.8 | — | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Splashlight LLC, Splashlight Photographic & Digital Studios LLC | Management of Companies and Enterprises | Term Loan | Prime plus 2.75% | 2/2/2027 | 750.0 | 723.8 | 641.9 | 0.25 | % | ||||||||||||||||
| DBMS Consulting, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 2/1/2042 | 185.0 | 183.8 | 180.6 | 0.07 | % | ||||||||||||||||
| Brandco, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 1/31/2027 | 43.7 | 41.9 | 35.8 | 0.01 | % | ||||||||||||||||
| Chidlren's House Learning, Inc and Tarps Investment Group | Social Assistance | Term Loan | Prime plus 2.75% | 1/31/2042 | 321.3 | 319.1 | 319.5 | 0.12 | % | ||||||||||||||||
| Grand Center Inn L.P. dba Grand Center Inn | Accommodation | Term Loan | Prime plus 2.75% | 1/31/2027 | 15.0 | 14.4 | 14.6 | 0.01 | % | ||||||||||||||||
| AP6 LLC and Amishp LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/30/2042 | 127.5 | 107.8 | 113.4 | 0.04 | % | ||||||||||||||||
| Fave Realty, Inc. | Real Estate | Term Loan | Prime plus 2.75% | 1/30/2042 | 54.5 | 54.1 | 54.8 | 0.02 | % | ||||||||||||||||
| ZMKNY Tires Inc dba Houston International Tires | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 1/27/2042 | 107.5 | 106.8 | 112.3 | 0.04 | % | ||||||||||||||||
| House of Bread & Coffee Corp dba Casa Do Pao | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/27/2042 | 176.0 | 135.7 | 131.9 | 0.05 | % | ||||||||||||||||
| SRC Publishing LLC | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 1/27/2027 | 22.5 | 21.6 | 18.4 | 0.01 | % | ||||||||||||||||
| Return to Excellence Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 1/27/2027 | 17.7 | 17.0 | 17.2 | 0.01 | % | ||||||||||||||||
| Sideways Sports Lounge and Jonathan E. McGrew and Patricia C. McGrew | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/23/2027 | 18.0 | 17.3 | 14.7 | 0.01 | % | ||||||||||||||||
| Fox Valley Rentals & Investments LLC and Brian M Tomaszewski | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/20/2042 | 42.5 | 42.2 | 42.0 | 0.02 | % | ||||||||||||||||
| Rhone Wolf Vineyard LLC, Goldline Brands Inc. and Myka Cellars, Inc. | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 1/19/2030 | 250.4 | 243.4 | 224.5 | 0.09 | % | ||||||||||||||||
| Jolibe LLC and Jolibe Atelier LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 1/18/2027 | 10.5 | 10.1 | 8.9 | — | % | ||||||||||||||||
| Eickmann Management Group LLC dba Jimmy Johns of Dundee | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/17/2027 | 93.7 | 93.0 | 91.3 | 0.04 | % | ||||||||||||||||
| Ramjay Inc. | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 1/13/2027 | 435.0 | 420.4 | 381.1 | 0.15 | % | ||||||||||||||||
| Fullbro Trust dba Menemsha Blues | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 1/13/2027 | 22.5 | 21.6 | 21.9 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Echelon Enterprises, Inc | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 1/10/2027 | 50.0 | 48.0 | 48.6 | 0.02 | % | ||||||||||||||||
| Fort Smith Wings Inc. dba Wing Stop | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/28/2026 | 19.5 | 18.6 | 16.6 | 0.01 | % | ||||||||||||||||
| Sand Hill Associates, Ltd. dba Charlie O's Tavern on the Point | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/27/2041 | 419.9 | 417.1 | 412.2 | 0.16 | % | ||||||||||||||||
| Joshua L. Baker | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 12/23/2026 | 15.7 | 15.0 | 12.8 | 0.01 | % | ||||||||||||||||
| Jacliff Investments Inc. dba International health Technologies | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 12/23/2026 | 125.0 | 119.1 | 101.6 | 0.04 | % | ||||||||||||||||
| New Image Building Services, Inc.dba The Maids Servicing Oakland | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/21/2026 | 43.8 | 41.7 | 37.0 | 0.01 | % | ||||||||||||||||
| Chestnut Street Associates, LLC and Metropolitan Solutions, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/19/2041 | 275.0 | 272.3 | 261.6 | 0.10 | % | ||||||||||||||||
| Means Enterprises LLC dba FastFrame Frisco | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 12/16/2026 | 22.5 | 21.4 | 18.6 | 0.01 | % | ||||||||||||||||
| Soon Im. Chin dba Stan C-Store | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/15/2041 | 212.5 | 210.4 | 217.6 | 0.09 | % | ||||||||||||||||
| Sempco, Inc. | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 12/15/2041 | 42.0 | 41.6 | 43.7 | 0.02 | % | ||||||||||||||||
| Allied Welding Inc. | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 12/15/2041 | 750.0 | 744.7 | 731.9 | 0.29 | % | ||||||||||||||||
| Ericon, Inc. dba Quik Pik | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/15/2041 | 332.2 | 329.5 | 328.3 | 0.13 | % | ||||||||||||||||
| White Hawk Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 12/15/2026 | 1,097.7 | 1,047.7 | 893.6 | 0.35 | % | ||||||||||||||||
| Elita 7, LLC | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 12/15/2041 | 712.5 | 705.5 | 718.9 | 0.28 | % | ||||||||||||||||
| New Chicago Wholesale Bakery, Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 12/15/2041 | 452.7 | 448.3 | 442.6 | 0.17 | % | ||||||||||||||||
| Techni-Pro Institute LLC | Educational Services | Term Loan | Prime plus 2.75% | 12/15/2026 | 190.0 | 181.0 | 159.2 | 0.06 | % | ||||||||||||||||
| Trison Enterprises Inc.dba Lee's Automotive | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/14/2041 | 407.5 | 403.5 | 407.7 | 0.16 | % | ||||||||||||||||
| Cardinal Homes Inc. and Bret A Berneche | Wood Product Manufacturing | Term Loan | Prime plus 2.75% | 12/14/2041 | 121.3 | 120.0 | 125.9 | 0.05 | % | ||||||||||||||||
| HMG Strategy, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/14/2026 | 50.0 | 47.6 | 40.6 | 0.02 | % | ||||||||||||||||
| D and E Hardware Co. and D and E Pump Sales and Service | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 12/14/2041 | 528.6 | 523.4 | 520.2 | 0.20 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Cardinal Homes Inc,.Alouette Holdings Inc. | Wood Product Manufacturing | Term Loan | Prime plus 2.75% | 12/14/2026 | 1,071.3 | 1,020.5 | 1,032.9 | 0.40 | % | ||||||||||||||||
| AGG Management Team LLC dba Chevron | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/14/2041 | 287.5 | 284.7 | 299.3 | 0.12 | % | ||||||||||||||||
| Wayfarer Bicycle LLC | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 12/13/2041 | 92.5 | 91.6 | 89.1 | 0.03 | % | ||||||||||||||||
| Success Advertising Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/13/2041 | 466.5 | 461.9 | 478.5 | 0.19 | % | ||||||||||||||||
| Roast Beef Levittown LLC dba Arby's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/13/2026 | 465.0 | 447.7 | 453.1 | 0.18 | % | ||||||||||||||||
| Queen Express LLC | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/13/2041 | 187.5 | 185.6 | 192.5 | 0.08 | % | ||||||||||||||||
| Recycling Revolution,LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 12/9/2041 | 92.2 | 91.3 | 90.7 | 0.04 | % | ||||||||||||||||
| Myndshft Technologies LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/9/2026 | 775.0 | 738.3 | 657.7 | 0.26 | % | ||||||||||||||||
| Mack Team Enterprises Inc.dba The UPS Store #6815 | Couriers and Messengers | Term Loan | Prime plus 2.75% | 12/9/2026 | 20.4 | 19.4 | 17.4 | 0.01 | % | ||||||||||||||||
| ^New Life Hospital LLC | Hospitals | Term Loan | Prime plus 2.75% | 12/8/2041 | 1,195.5 | 1,184.9 | 1,245.8 | 0.49 | % | ||||||||||||||||
| Imagine By Carleen Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 12/8/2041 | 52.5 | 52.0 | 52.1 | 0.02 | % | ||||||||||||||||
| Hanson's Greeks LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/8/2026 | 11.3 | 10.7 | 10.8 | — | % | ||||||||||||||||
| Yachting Solutions LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 12/7/2029 | 71.2 | 68.9 | 65.1 | 0.03 | % | ||||||||||||||||
| T and B Boots Inc dba Takken's Shoes | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 12/7/2026 | 100.0 | 95.7 | 89.5 | 0.04 | % | ||||||||||||||||
| Lan Doctors, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/7/2026 | 237.5 | 226.2 | 222.1 | 0.09 | % | ||||||||||||||||
| Lilo Holdings LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/5/2026 | 15.9 | 15.1 | 13.7 | 0.01 | % | ||||||||||||||||
| ^The Lake Shore Hospitality Inc dba Dowagiac Baymont Inn & Suites | Accommodation | Term Loan | Prime plus 2.75% | 12/5/2041 | 352.5 | 349.6 | 360.6 | 0.14 | % | ||||||||||||||||
| ^Ericon, Inc. | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/1/2041 | 726.0 | 720.2 | 721.4 | 0.28 | % | ||||||||||||||||
| Noso Development LLC | Construction of Buildings | Term Loan | Prime plus 2.75% | 12/1/2026 | 75.0 | 71.4 | 60.9 | 0.02 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Quick Ship, LLC | Couriers and Messengers | Term Loan | Prime plus 2.75% | 11/30/2026 | 10.5 | 9.9 | 8.5 | — | % | ||||||||||||||||
| ^Pebble Wood Lane, LLC and Good Sam's Assisted Living Resiidence,LLC | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 11/30/2041 | 67.5 | 66.7 | 70.2 | 0.03 | % | ||||||||||||||||
| Sharaz Shah DBA Thomas Jewelers | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 11/30/2026 | 8.1 | 7.7 | 6.5 | — | % | ||||||||||||||||
| Choe Trading Group, Inc.dba Rapid Printers of Monterey | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 11/30/2026 | 22.5 | 21.3 | 20.9 | 0.01 | % | ||||||||||||||||
| Studio Find It Georgia, Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/30/2026 | 7.5 | 7.1 | 6.2 | — | % | ||||||||||||||||
| RD Management, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/30/2026 | 213.8 | 202.3 | 174.8 | 0.07 | % | ||||||||||||||||
| Imaginarium Foods LLC, | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2042 | 376.7 | 370.5 | 376.2 | 0.15 | % | ||||||||||||||||
| B4 Fitness LLC dba The Zoo Health Club | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/30/2026 | 22.5 | 21.3 | 19.0 | 0.01 | % | ||||||||||||||||
| ^Usman Jalil, LLC dba Food Mart | Gasoline Stations | Term Loan | Prime plus 2.75% | 11/29/2041 | 233.2 | 230.7 | 223.6 | 0.09 | % | ||||||||||||||||
| Honor Mansion, Inc. | Accommodation | Term Loan | Prime plus 2.75% | 11/29/2026 | 87.5 | 82.8 | 83.8 | 0.03 | % | ||||||||||||||||
| Access Staffing, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 11/29/2026 | 1,125.0 | 1,064.6 | 908.0 | 0.36 | % | ||||||||||||||||
| Merchant Coterie, Inc. | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 11/23/2026 | 125.0 | 118.3 | 100.9 | 0.04 | % | ||||||||||||||||
| CRK Mens, LLC dba Spiff for Men | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/23/2026 | 106.3 | 100.7 | 87.8 | 0.03 | % | ||||||||||||||||
| WPN Recycling Company LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 11/23/2026 | 22.5 | 21.3 | 21.5 | 0.01 | % | ||||||||||||||||
| Hafa Adai Signs and Graphics LLC dba Fastsigns of Auburn -#281901 | Administrative and Support Services | Term Loan | Prime plus 2.75% | 11/23/2026 | 60.0 | 56.8 | 49.1 | 0.02 | % | ||||||||||||||||
| Rognes Corp dba RTS | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 11/22/2026 | 389.2 | 366.9 | 335.5 | 0.13 | % | ||||||||||||||||
| Bouquet Restaurant LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/22/2041 | 125.0 | 123.6 | 124.6 | 0.05 | % | ||||||||||||||||
| ^J.B.K Truck Trailer and Bus Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 11/22/2041 | 435.0 | 430.1 | 428.7 | 0.17 | % | ||||||||||||||||
| 6E Technologies LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 11/22/2026 | 175.0 | 163.8 | 150.9 | 0.06 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Broms Asset Management LLC | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 11/22/2026 | 125.0 | 118.3 | 100.9 | 0.04 | % | ||||||||||||||||
| Skaggs RV Outlet LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 11/21/2026 | 100.0 | 94.6 | 95.8 | 0.04 | % | ||||||||||||||||
| Catherine Christine Morin dba Purr-Fect Pets | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/17/2026 | 18.7 | 17.7 | 15.1 | 0.01 | % | ||||||||||||||||
| Stratmar Systems Inc dba Stratmar Retail Services | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 11/16/2026 | 68.5 | 64.8 | 65.6 | 0.03 | % | ||||||||||||||||
| Hoosier Health Plus, LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/15/2026 | 125.0 | 118.3 | 111.4 | 0.04 | % | ||||||||||||||||
| ^J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 11/10/2041 | 446.0 | 440.9 | 451.4 | 0.18 | % | ||||||||||||||||
| Hackensack Steel Corporation and Luzerne Ironworks Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/10/2026 | 239.2 | 226.3 | 228.9 | 0.09 | % | ||||||||||||||||
| ^Panther Ironworks and Rigging Solutions LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/10/2026 | 151.3 | 143.1 | 131.2 | 0.05 | % | ||||||||||||||||
| ^J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 11/10/2026 | 188.7 | 178.6 | 176.9 | 0.07 | % | ||||||||||||||||
| MIK LLC dba Firehouse Subs | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/9/2026 | 200.0 | 192.9 | 166.8 | 0.07 | % | ||||||||||||||||
| ^Rich's Food Stores LLC dba Hwy 55 of Wallace | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/9/2026 | 43.7 | 41.4 | 38.6 | 0.02 | % | ||||||||||||||||
| ^Dyer Properties, LLC | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 11/9/2041 | 240.3 | 237.5 | 234.5 | 0.09 | % | ||||||||||||||||
| ^Big Apple Entertainment Partners LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/9/2026 | 175.0 | 165.6 | 141.2 | 0.06 | % | ||||||||||||||||
| ^Bovill Creative,LLC | Real Estate | Term Loan | Prime plus 2.75% | 11/9/2041 | 281.2 | 278.2 | 292.5 | 0.11 | % | ||||||||||||||||
| Surgarloaf Concepts LLC dba Fat Biscuit | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/8/2026 | 168.8 | 165.0 | 167.0 | 0.07 | % | ||||||||||||||||
| ^Fine Line Interiors, Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 11/4/2041 | 87.5 | 82.4 | 86.7 | 0.03 | % | ||||||||||||||||
| 131 Miles LLC and Ohm Shubh Laxmi, LLC. dba Mr Hero | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/3/2041 | 127.5 | 125.1 | 127.8 | 0.05 | % | ||||||||||||||||
| ^Veracruz Shabo, LLC; Waterfalls Quick Lube LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 11/1/2041 | 118.7 | 117.9 | 120.3 | 0.05 | % | ||||||||||||||||
| Glocecol LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 11/1/2026 | 75.0 | 70.9 | 71.8 | 0.03 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Middlesex Auto Sales Corp | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 10/31/2041 | 125.0 | 123.5 | 126.3 | 0.05 | % | ||||||||||||||||
| ^Moolchan Enterprises LLC dba Staying Green | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 10/31/2026 | 18.1 | 17.1 | 16.1 | 0.01 | % | ||||||||||||||||
| ^Bloomquist Communications Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 10/31/2026 | 60.0 | 56.4 | 48.1 | 0.02 | % | ||||||||||||||||
| ^Woodstock Enterprises Corp dba True Scent Candle Co. | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 10/31/2041 | 88.8 | 87.7 | 85.4 | 0.03 | % | ||||||||||||||||
| ^Patina Investment, Inc and Ram & Sons, Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/27/2041 | 175.0 | 172.8 | 181.6 | 0.07 | % | ||||||||||||||||
| Elite Structures Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 10/27/2029 | 225.0 | 218.3 | 212.7 | 0.08 | % | ||||||||||||||||
| ^FibAire Communications, LLC | Telecommunications | Term Loan | Prime plus 2.75% | 10/27/2026 | 107.5 | 101.0 | 92.7 | 0.04 | % | ||||||||||||||||
| ^Bonita Stone LLC and Castone Creations Inc | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 10/25/2041 | 264.4 | 261.0 | 259.9 | 0.10 | % | ||||||||||||||||
| ^Empire Processor Services Inc. and Verrazano Wholesale Dist., Inc. | Nonstore Retailers | Term Loan | Prime plus 2.75% | 10/25/2026 | 131.2 | 123.4 | 124.9 | 0.05 | % | ||||||||||||||||
| Blakeslee Arpaia Chapman Inc and Chapman Construction Services LLC | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 10/24/2026 | 425.0 | 399.5 | 398.7 | 0.16 | % | ||||||||||||||||
| Eco Vehicle Systems LLC | Transportation Equipment Manufacturing | Term Loan | Prime plus 2.75% | 10/21/2026 | 955.5 | 898.9 | 900.9 | 0.35 | % | ||||||||||||||||
| Worldwide Estate, Inc. dba Washington Heights Manor | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 10/21/2041 | 225.0 | 221.7 | 233.1 | 0.09 | % | ||||||||||||||||
| ^Gold Wind Logistics LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 10/20/2041 | 175.0 | 173.4 | 182.3 | 0.07 | % | ||||||||||||||||
| ^Speaker City, Inc. dba Rollin Thunder | Electronics and Appliance Stores | Term Loan | Prime plus 2.75% | 10/14/2041 | 125.0 | 123.4 | 125.6 | 0.05 | % | ||||||||||||||||
| ^Maine Service Corp | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 10/13/2026 | 206.3 | 192.5 | 180.6 | 0.07 | % | ||||||||||||||||
| ^Justin Partlow | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 10/13/2026 | 19.5 | 18.3 | 15.6 | 0.01 | % | ||||||||||||||||
| ^Reliable Recovery Services LLC | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 10/7/2026 | 112.5 | 105.7 | 96.3 | 0.04 | % | ||||||||||||||||
| ^Ailky Corporation | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 10/3/2026 | 250.0 | 235.0 | 206.0 | 0.08 | % | ||||||||||||||||
| ^Wyspen Corporation dba Charlestown Ace | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 10/3/2026 | 36.0 | 33.8 | 28.9 | 0.01 | % | ||||||||||||||||
| ^MegaPhase, LLC | Computer and Electronic Product Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2026 | 150.0 | 139.9 | 135.1 | 0.05 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Seaway LLC and Reklaw LLC dba Allure Lounge | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/30/2041 | 137.5 | 135.4 | 142.3 | 0.06 | % | ||||||||||||||||
| ^JJA Transportation Management Inc. | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/30/2026 | 52.5 | 49.0 | 41.7 | 0.02 | % | ||||||||||||||||
| ^Adelwerth Bus Corp. | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/30/2041 | 242.8 | 239.3 | 237.0 | 0.09 | % | ||||||||||||||||
| Adelwerth Bus Corporation, Transportation Leasing Corp. | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/30/2029 | 654.0 | 624.3 | 601.6 | 0.24 | % | ||||||||||||||||
| Vision Automotive LLC dba Vision Chrysler Jeep Dodge Ram of Defiance | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 9/29/2029 | 671.5 | 640.3 | 600.1 | 0.23 | % | ||||||||||||||||
| ^Las Casuelas Del Este Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/29/2041 | 800.0 | 791.6 | 814.7 | 0.32 | % | ||||||||||||||||
| ^Thunderdome Racing Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/29/2026 | 19.0 | 17.8 | 17.6 | 0.01 | % | ||||||||||||||||
| ^Graphics,Type and Color Enterprises Inc dba Clubflyers.com and GTC Med | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 9/28/2041 | 850.0 | 836.9 | 879.5 | 0.34 | % | ||||||||||||||||
| ^Paragon Global, LLC and Paragon Fabricators Inc and Paragon Field Services | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 9/28/2041 | 405.8 | 400.1 | 382.5 | 0.15 | % | ||||||||||||||||
| ^Beadon Inc | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/28/2026 | 22.5 | 21.0 | 21.0 | 0.01 | % | ||||||||||||||||
| ^CNC Precision Machine, Inc. | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/28/2041 | 1,250.0 | 1,235.9 | 1,236.2 | 0.48 | % | ||||||||||||||||
| ^CD Game Exchange Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/28/2026 | 22.5 | 21.0 | 17.9 | 0.01 | % | ||||||||||||||||
| Paragon Fabricators Inc, Paragon Field Services, Inc and Paragon Global | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 9/28/2026 | 648.0 | 608.3 | 559.8 | 0.22 | % | ||||||||||||||||
| ^Kyle M Walker DDS,PC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/27/2026 | 217.8 | 204.7 | 180.1 | 0.07 | % | ||||||||||||||||
| Reynolds Fence & Guardrail Inc. | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 9/27/2026 | 629.6 | 587.1 | 560.5 | 0.22 | % | ||||||||||||||||
| ^Luna Nueva LLC dba Bio Builders | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/27/2026 | 15.0 | 14.0 | 12.4 | — | % | ||||||||||||||||
| ^Luv 2 Play Nor Cal, LLC dba Luv 2 Play | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/27/2026 | 52.5 | 49.0 | 43.8 | 0.02 | % | ||||||||||||||||
| ^Sarah S Olelewe MD Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/26/2041 | 292.4 | 288.5 | 289.4 | 0.11 | % | ||||||||||||||||
| ^TPFC,LLC dbaThe Picture Frame Company | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 9/26/2041 | 58.8 | 57.9 | 58.1 | 0.02 | % | ||||||||||||||||
| ^Ridge Road Equestrian LLC dba Ricochet Ridge Ranch | Support Activities for Agriculture and Forestry | Term Loan | Prime plus 2.75% | 9/26/2026 | 9.0 | 8.4 | 8.3 | — | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^PeopleBest Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/26/2026 | 15.0 | 14.0 | 11.9 | — | % | ||||||||||||||||
| ^Mr. Mulch, Inc | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 9/23/2041 | 405.7 | 399.5 | 375.3 | 0.15 | % | ||||||||||||||||
| ^B4 Fitness LLC dba The Zoo Health Club | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/23/2026 | 87.5 | 81.6 | 72.7 | 0.03 | % | ||||||||||||||||
| ^InformationTelevision Network Inc | Motion Picture and Sound Recording Industries | Term Loan | Prime plus 2.75% | 9/22/2041 | 836.8 | 825.5 | 858.5 | 0.34 | % | ||||||||||||||||
| ^GRA Financial Services Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/22/2026 | 12.0 | 11.2 | 9.5 | — | % | ||||||||||||||||
| ^Wrecking Crew Media LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 9/21/2026 | 50.0 | 46.6 | 39.7 | 0.02 | % | ||||||||||||||||
| ^Cuppiecakes LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/21/2041 | 22.5 | 22.2 | 22.2 | 0.01 | % | ||||||||||||||||
| ^Benoit's Towing and Recovery LLC | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 9/20/2026 | 12.0 | 11.2 | 9.7 | — | % | ||||||||||||||||
| ^Consulting Solutions Inc. and Mark Luciani | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/20/2026 | 22.5 | 21.0 | 19.8 | 0.01 | % | ||||||||||||||||
| ^Brittany Burns LLC dba Dreams Come True | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/19/2026 | 12.9 | 12.0 | 12.2 | — | % | ||||||||||||||||
| ^Eyncon LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/16/2041 | 50.0 | 49.2 | 49.9 | 0.02 | % | ||||||||||||||||
| ^Tresa S.Parris dba Wagging Tails Grooming | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/16/2026 | 8.0 | 7.6 | 6.5 | — | % | ||||||||||||||||
| ^The Merrin Group LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/15/2026 | 175.0 | 163.2 | 157.0 | 0.06 | % | ||||||||||||||||
| ^Rich's Food Stores LLC dba Hwy 55 of Wallace | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/14/2026 | 145.5 | 135.9 | 126.7 | 0.05 | % | ||||||||||||||||
| ^Atlantic Alarm Systems and Services LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/14/2026 | 15.4 | 14.4 | 12.7 | — | % | ||||||||||||||||
| ^Metropet Dog Center, Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/13/2041 | 109.2 | 107.6 | 109.3 | 0.04 | % | ||||||||||||||||
| ^Marquis Cattle Company | Animal Production and Aquaculture | Term Loan | Prime plus 2.75% | 9/13/2026 | 50.0 | 47.1 | 47.6 | 0.02 | % | ||||||||||||||||
| ^Bingham Enterprises, Inc and Full Belli Deli and Sausage Company | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/12/2041 | 82.5 | 81.2 | 79.6 | 0.03 | % | ||||||||||||||||
| ^Artisan Infrastructure Holdings, LLC | Data Processing, Hosting, and Related Services | Term Loan | Prime plus 2.75% | 9/7/2026 | 125.0 | 116.6 | 99.3 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^SRA Mechanicial Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/6/2041 | 43.8 | 43.1 | 45.1 | 0.02 | % | ||||||||||||||||
| ^Sandia Enterprises Inc dba Massage Envy Spa | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/6/2026 | 62.5 | 58.3 | 49.7 | 0.02 | % | ||||||||||||||||
| ^Animal Intrusion Prevention Systems Holding Company, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 8/30/2026 | 125.0 | 115.9 | 101.5 | 0.04 | % | ||||||||||||||||
| ^Suncrest Stone Products LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 8/29/2026 | 586.7 | 543.4 | 487.2 | 0.19 | % | ||||||||||||||||
| ^Suncrest Stone Products LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 8/29/2041 | 649.6 | 638.7 | 595.9 | 0.23 | % | ||||||||||||||||
| ^Clark Realty LLC | Real Estate | Term Loan | Prime plus 2.75% | 8/29/2041 | 237.5 | 233.5 | 224.8 | 0.09 | % | ||||||||||||||||
| ^Raem Corporation dba Dryclean Express | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 8/29/2041 | 72.5 | 71.3 | 74.0 | 0.03 | % | ||||||||||||||||
| ^Warren Dale Warrington dba Custom Paint and Body | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/26/2041 | 101.2 | 99.5 | 101.8 | 0.04 | % | ||||||||||||||||
| ^TAGR Inc dba Miami Grill 137and John Nakis | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/26/2026 | 106.8 | 98.9 | 86.6 | 0.03 | % | ||||||||||||||||
| ^Albert Basse Associates Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 8/25/2026 | 62.5 | 57.9 | 58.4 | 0.02 | % | ||||||||||||||||
| ^Avery Management Inc. dba Whetstone Upholstery | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/25/2026 | 10.6 | 9.9 | 8.4 | — | % | ||||||||||||||||
| ^Dean Technology Inc | Electrical Equipment, Appliance, and Component Manufacturing | Term Loan | Prime plus 2.75% | 8/25/2041 | 387.1 | 380.6 | 397.1 | 0.16 | % | ||||||||||||||||
| ^Rosmel Pools Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/25/2026 | 22.5 | 20.8 | 18.2 | 0.01 | % | ||||||||||||||||
| ^Tabadesa Associates Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/25/2026 | 22.5 | 20.8 | 17.8 | 0.01 | % | ||||||||||||||||
| ^TR Companies LLC dba True Value Rental and Liberty Rental 4 U | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 8/25/2026 | 90.0 | 83.4 | 71.1 | 0.03 | % | ||||||||||||||||
| Sambella Holdings, LLC and Strike Zone Entertainment Center LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/24/2041 | 500.0 | 492.0 | 513.3 | 0.20 | % | ||||||||||||||||
| ^Tim's Tire & Automotive Center, LLC | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 8/16/2026 | 816.6 | 768.3 | 697.1 | 0.27 | % | ||||||||||||||||
| ^Luv 2 Play Temecula, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 8/15/2026 | 60.0 | 55.6 | 47.4 | 0.02 | % | ||||||||||||||||
| Bear Creek Entertainment LLC dba The Woods at Bear Creek | Accommodation | Term Loan | Prime plus 2.75% | 8/12/2041 | 437.5 | 390.8 | 387.5 | 0.15 | % | ||||||||||||||||
| ^2 Cool Beans LLC dba Menchies's Frozen Yogurt | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/11/2026 | 82.5 | 76.4 | 65.1 | 0.03 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Grayson O Company | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 8/10/2041 | 625.0 | 614.5 | 641.0 | 0.25 | % | ||||||||||||||||
| ^Charal Investments LLC dba Orange Theory Fitness | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 8/10/2026 | 87.5 | 81.0 | 69.1 | 0.03 | % | ||||||||||||||||
| ^PCNKC Inc dba Plato's Closet | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 8/10/2026 | 18.7 | 3.0 | 2.9 | — | % | ||||||||||||||||
| ^Paul Belanger dba Paul Belanger Landscaping | Administrative and Support Services | Term Loan | Prime plus 2.75% | 8/9/2026 | 15.0 | 13.9 | 11.8 | — | % | ||||||||||||||||
| ^Nicolette Reiser dba Comfort & Balance | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 7/29/2041 | 75.0 | 73.6 | 75.2 | 0.03 | % | ||||||||||||||||
| ^USA General Investment LLC dba Braniff Paint and Body Shop | Repair and Maintenance | Term Loan | Prime plus 2.75% | 7/29/2026 | 22.5 | 20.7 | 18.2 | 0.01 | % | ||||||||||||||||
| ^The Hungry Rhino LLC | Real Estate | Term Loan | Prime plus 2.75% | 7/29/2041 | 76.2 | 74.9 | 74.9 | 0.03 | % | ||||||||||||||||
| ^303 Tower Drive LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 7/29/2041 | 400.3 | 392.9 | 404.0 | 0.16 | % | ||||||||||||||||
| ^Little Tree Huggers Child Care LLC | Social Assistance | Term Loan | Prime plus 2.75% | 7/29/2041 | 140.0 | 137.4 | 144.2 | 0.06 | % | ||||||||||||||||
| ^676 Club LP dba The Green Door Tavern/The Drifter | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/28/2041 | 670.0 | 657.7 | 682.3 | 0.27 | % | ||||||||||||||||
| ^KJCKD Inc dba Camelot Print & Copy Centers/Copy A Second | Administrative and Support Services | Term Loan | Prime plus 2.75% | 7/28/2041 | 587.0 | 576.2 | 579.4 | 0.23 | % | ||||||||||||||||
| ^Big Apple Entertainment Partners LLC dba Ripley's Believe It or Not | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/28/2026 | 300.0 | 275.9 | 235.1 | 0.09 | % | ||||||||||||||||
| ^MacIver Corporation dba Division Camera | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 7/28/2026 | 1,250.0 | 1,149.6 | 1,086.0 | 0.42 | % | ||||||||||||||||
| ^J And G Group Services LLC and United Vending of Florida Inc. | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 7/28/2026 | 31.5 | 29.6 | 26.5 | 0.01 | % | ||||||||||||||||
| ^Intrepid Trinity LLC | Nonstore Retailers | Term Loan | Prime plus 2.75% | 7/28/2041 | 62.5 | 61.4 | 62.5 | 0.02 | % | ||||||||||||||||
| ^Apple Tree NC Inc dba Williams Farm & Garden Center | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 7/28/2041 | 337.0 | 330.8 | 327.9 | 0.13 | % | ||||||||||||||||
| ^Kidtastic LLC dba The Little Gym of Audubon | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/27/2026 | 53.8 | 52.2 | 44.5 | 0.02 | % | ||||||||||||||||
| ^GF Libations Inc dba Minuteman Press | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 7/27/2041 | 40.5 | 38.8 | 34.6 | 0.01 | % | ||||||||||||||||
| ^EPEC Juice LLC dba Jamba Juice | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/27/2026 | 82.5 | 76.8 | 65.5 | 0.03 | % | ||||||||||||||||
| ^Pinco Pizza LLC dba Jet's Pizza | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/27/2026 | 72.9 | 68.0 | 67.2 | 0.03 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Peckett's Inc | Crop Production | Term Loan | Prime plus 2.75% | 7/27/2041 | 225.0 | 219.6 | 230.7 | 0.09 | % | ||||||||||||||||
| ^JAG Unit 1, LLC dba Arooga's Grille House and Sports Bar | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/27/2026 | 125.0 | 115.0 | 98.0 | 0.04 | % | ||||||||||||||||
| ^The Grasso Companies, LLC and Grasso Pavement Maintenance, LLC | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 7/26/2026 | 91.0 | 83.6 | 76.4 | 0.03 | % | ||||||||||||||||
| ^Gino Italian American Deli and Meat Market Inc | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 7/25/2041 | 536.8 | 530.2 | 527.9 | 0.21 | % | ||||||||||||||||
| ^My Sainath Inc dba Motel 6 | Accommodation | Term Loan | Prime plus 2.75% | 7/22/2041 | 305.4 | 299.8 | 309.1 | 0.12 | % | ||||||||||||||||
| ^Robert G Larson State Farm Insurance | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 7/22/2026 | 22.5 | 20.7 | 17.6 | 0.01 | % | ||||||||||||||||
| ^J and D Resources LLC dba Aqua Science | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/19/2026 | 130.5 | 120.0 | 103.4 | 0.04 | % | ||||||||||||||||
| ^Robert P Daniels dba Ginger and Friend's Peppermint Village Gift Shop | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 7/18/2026 | 15.8 | 14.5 | 12.3 | — | % | ||||||||||||||||
| Franklin Firm LLC dba Luv 2 Play | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/15/2041 | 173.3 | 170.6 | 171.7 | 0.07 | % | ||||||||||||||||
| ^Billingsworks LLC dba Spoon Shine Cafe | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/15/2026 | 9.7 | 8.9 | 9.0 | — | % | ||||||||||||||||
| ^Be Beautiful LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 7/14/2041 | 66.5 | 65.3 | 67.3 | 0.03 | % | ||||||||||||||||
| ^Takeuchi Commercial Cleaning Services, LLC dba We Clean San Diego | Administrative and Support Services | Term Loan | Prime plus 2.75% | 7/13/2026 | 46.2 | 42.5 | 36.2 | 0.01 | % | ||||||||||||||||
| ^Jacob Rugs LLC dba Rugs Outlet | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 7/13/2026 | 65.6 | 60.4 | 61.0 | 0.02 | % | ||||||||||||||||
| ^RM Hawkins LLC dba Pure Water Tech West | Nonstore Retailers | Term Loan | Prime plus 2.75% | 7/7/2026 | 50.0 | 46.0 | 44.2 | 0.02 | % | ||||||||||||||||
| ^Dino Smiles Children's Cosmetic Dentistry | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 7/7/2026 | 14.3 | 13.1 | 11.5 | — | % | ||||||||||||||||
| Nevey's LLC dba Stark Food III | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/30/2041 | 293.9 | 289.1 | 299.1 | 0.12 | % | ||||||||||||||||
| ^Soregard Inc | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 6/30/2041 | 278.8 | 273.2 | 262.0 | 0.10 | % | ||||||||||||||||
| ^P L H Pharmaco Inc dba Farmacia San Jose | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 6/30/2026 | 175.0 | 159.8 | 158.4 | 0.06 | % | ||||||||||||||||
| ^Martin Inventory Management LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 6/30/2026 | 105.8 | 96.6 | 97.6 | 0.04 | % | ||||||||||||||||
| ^Desert Tacos LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2026 | 98.8 | 92.6 | 87.3 | 0.03 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^VMA Technologies LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/30/2026 | 22.5 | 20.5 | 17.5 | 0.01 | % | ||||||||||||||||
| ^Corning Lumber Company Inc and Frank R Close and Son Inc | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 6/30/2029 | 195.5 | 183.8 | 187.5 | 0.07 | % | ||||||||||||||||
| ^Castone Creations Inc | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 6/29/2026 | 87.5 | 79.9 | 71.3 | 0.03 | % | ||||||||||||||||
| ^WGI, LLC dba Williams Grant Inn | Accommodation | Term Loan | Prime plus 2.75% | 6/29/2041 | 131.2 | 128.6 | 129.5 | 0.05 | % | ||||||||||||||||
| ^KWG Industries, LLC dba Peterson & Marsh Metal Industries | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 6/29/2041 | 304.5 | 299.0 | 305.7 | 0.12 | % | ||||||||||||||||
| ^O.D.S. Inc dba Four Seasons Health & Racquet and Step 'N' Motion, Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/29/2026 | 140.0 | 127.8 | 112.0 | 0.04 | % | ||||||||||||||||
| ^Ninsa LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/29/2041 | 112.5 | 110.3 | 115.8 | 0.05 | % | ||||||||||||||||
| ^E & P Holdings 1 LLC and Evans & Paul LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 6/28/2026 | 125.0 | 114.3 | 101.0 | 0.04 | % | ||||||||||||||||
| ^MaidPro Marin dba MaidPro | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/28/2026 | 17.6 | 16.0 | 13.6 | 0.01 | % | ||||||||||||||||
| ^All Printing Solutions, Inc. dba Pryntcomm | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 6/27/2041 | 545.6 | 535.4 | 517.5 | 0.20 | % | ||||||||||||||||
| ^Edge Pest Control LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/27/2026 | 750.0 | 684.9 | 583.2 | 0.23 | % | ||||||||||||||||
| ^Jumbomarkets Inc dba Rines Jumbomarkets | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/24/2026 | 50.0 | 45.7 | 38.9 | 0.02 | % | ||||||||||||||||
| ^El Basha Inc dba RPM West San Fernando Valley | Real Estate | Term Loan | Prime plus 2.75% | 6/24/2026 | 22.5 | 17.8 | 15.1 | 0.01 | % | ||||||||||||||||
| ^Island Time Investments, LLC dba Swantown Inn Bed & Breakfast | Accommodation | Term Loan | Prime plus 2.75% | 6/24/2041 | 101.2 | 99.2 | 104.2 | 0.04 | % | ||||||||||||||||
| ^Yellow Cab Company of Kissimmee Inc | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 6/24/2041 | 56.8 | 55.7 | 53.5 | 0.02 | % | ||||||||||||||||
| Shooting Sports Academy LLC and Jetaa LLC dba Shooting Sports Academy | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/23/2041 | 494.8 | 488.4 | 478.5 | 0.19 | % | ||||||||||||||||
| ^Visual Advantage LLC dba Signs Now Perryberg | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/23/2041 | 91.2 | 89.4 | 89.2 | 0.03 | % | ||||||||||||||||
| ^Long Island Comedy LLC dba Governors and New York Comedy, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/23/2041 | 187.5 | 183.8 | 185.5 | 0.07 | % | ||||||||||||||||
| ^SNS of Central Alabama, LLC dba Steak N Shake dba Steak N Shake | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/21/2026 | 57.5 | 52.5 | 47.9 | 0.02 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Evergreen Investment & Property Management LLC ,Universal Kidney Center | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/20/2041 | 1,250.0 | 1,229.1 | 1,269.8 | 0.50 | % | ||||||||||||||||
| ^Italian Heritage Tile and Stone Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/20/2026 | 62.5 | 57.1 | 48.6 | 0.02 | % | ||||||||||||||||
| ^Bagelicious, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/17/2026 | 54.5 | 49.8 | 42.7 | 0.02 | % | ||||||||||||||||
| ^T and B Boots Inc dba Takken's Shoes | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 6/17/2026 | 225.0 | 206.1 | 208.3 | 0.08 | % | ||||||||||||||||
| ^NKJ Lusby Donuts LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/16/2026 | 22.5 | 20.5 | 17.5 | 0.01 | % | ||||||||||||||||
| ^Winegirl Wines LLC | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 6/16/2026 | 11.3 | 10.3 | 10.4 | — | % | ||||||||||||||||
| ^Blue Eagle Transport Inc, Greeneagle Transport Inc and Golden Eagle Transport | Couriers and Messengers | Term Loan | Prime plus 2.75% | 6/16/2026 | 583.0 | 524.9 | 447.0 | 0.17 | % | ||||||||||||||||
| ^Jai-Alexia Consulting, Inc. | Couriers and Messengers | Term Loan | Prime plus 2.75% | 6/15/2026 | 11.8 | 10.8 | 9.2 | — | % | ||||||||||||||||
| ^Pumpkin Patch Child Care of Southington, LLC and Giuseppe Pugliares | Social Assistance | Term Loan | Prime plus 2% | 6/15/2041 | 515.2 | 503.9 | 487.6 | 0.19 | % | ||||||||||||||||
| ^Strag Industries LLC dba Meineke Car Care Center 841 | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/15/2026 | 15.0 | 13.7 | 12.7 | — | % | ||||||||||||||||
| ^Luv 2 Play AZ LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/10/2026 | 62.5 | 57.1 | 56.0 | 0.02 | % | ||||||||||||||||
| ^Refoleen Inc dba Spice and Tea Exchange | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/10/2026 | 85.0 | 79.1 | 67.3 | 0.03 | % | ||||||||||||||||
| ^VBGB Uptown, LLC dba VBGB Beer Hall & Garden | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/8/2026 | 84.0 | 76.7 | 65.3 | 0.03 | % | ||||||||||||||||
| ^ScimTech Industries Inc dba Archer Aerospace | Computer and Electronic Product Manufacturing | Term Loan | Prime plus 2.75% | 6/6/2026 | 12.0 | 11.0 | 9.3 | — | % | ||||||||||||||||
| ^Larry H. Patterson and Rainbow Movers, Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 6/6/2026 | 22.5 | 20.5 | 17.6 | 0.01 | % | ||||||||||||||||
| ^Solvit Inc and Solvit North Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/3/2026 | 250.0 | 229.5 | 206.0 | 0.08 | % | ||||||||||||||||
| ^AP5 LLC dba Krauser's Food Store | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/2/2041 | 242.5 | 237.7 | 240.5 | 0.09 | % | ||||||||||||||||
| ^ATI Jet Inc | Air Transportation | Term Loan | Prime plus 2.75% | 5/31/2026 | 518.8 | 470.4 | 421.1 | 0.16 | % | ||||||||||||||||
| ^Farmer Boy Diner Inc dba Farmer Boy Diner & Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/31/2026 | 50.0 | 45.3 | 45.8 | 0.02 | % | ||||||||||||||||
| Angelo Faia dba AVF Construction | Construction of Buildings | Term Loan | Prime plus 2.75% | 5/27/2041 | 100.0 | 97.4 | 97.8 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Premier Athletic Center of Ohio, Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 5/27/2026 | 87.5 | 79.3 | 80.2 | 0.03 | % | ||||||||||||||||
| ^Mersada Holdings LLC | Nonstore Retailers | Term Loan | Prime plus 2.75% | 5/26/2026 | 337.5 | 306.0 | 309.3 | 0.12 | % | ||||||||||||||||
| ^Jack Frost Firewood Inc. and David Dubinsky | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 5/26/2041 | 206.2 | 201.8 | 201.3 | 0.08 | % | ||||||||||||||||
| ^Southwest Division Inc | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 5/26/2026 | 8.3 | 7.5 | 6.8 | — | % | ||||||||||||||||
| ^PennyLion LLC dba Creamistry | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/25/2026 | 81.0 | 74.4 | 65.3 | 0.03 | % | ||||||||||||||||
| ^International Kitchen Supply LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 5/25/2026 | 186.7 | 169.3 | 152.9 | 0.06 | % | ||||||||||||||||
| ^Groth Lumber Co. Inc. dba True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 5/25/2026 | 22.5 | 20.4 | 20.6 | 0.01 | % | ||||||||||||||||
| ^Island Life Graphics Inc dba FASTSIGNS #576 | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 5/24/2026 | 22.5 | 20.4 | 17.7 | 0.01 | % | ||||||||||||||||
| ^Powerspec Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 5/24/2026 | 87.5 | 79.4 | 67.6 | 0.03 | % | ||||||||||||||||
| ^Horseshoe Barbecue, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/23/2029 | 15.0 | 12.8 | 13.1 | 0.01 | % | ||||||||||||||||
| ^Elderfriend Inc dba Granny Nannies dba GN Live Scan | Social Assistance | Term Loan | Prime plus 2.75% | 5/20/2026 | 12.7 | 11.6 | 9.8 | — | % | ||||||||||||||||
| ^National Air Cargo Holdings Inc | Air Transportation | Term Loan | Prime plus 2.75% | 5/20/2026 | 1,250.0 | 1,133.4 | 1,123.0 | 0.44 | % | ||||||||||||||||
| ^Pro Auto Repair LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/20/2026 | 7.5 | 6.7 | 6.6 | — | % | ||||||||||||||||
| ^HBA LLC dba Palmetto Twist-Vista | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/18/2026 | 22.5 | 17.7 | 15.5 | 0.01 | % | ||||||||||||||||
| ^J&A Laundromat Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 5/18/2026 | 67.5 | 61.2 | 53.7 | 0.02 | % | ||||||||||||||||
| ^Dedicated Incorporated | Administrative and Support Services | Term Loan | Prime plus 2.75% | 5/18/2041 | 46.5 | 45.5 | 46.2 | 0.02 | % | ||||||||||||||||
| ^J Harris Trucking, LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 5/13/2026 | 60.0 | 39.2 | 35.7 | 0.01 | % | ||||||||||||||||
| ^FJN Catering Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/13/2041 | 262.5 | 257.3 | 268.3 | 0.10 | % | ||||||||||||||||
| ^LED Lighting Enterprises LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 5/13/2026 | 22.5 | 20.4 | 17.9 | 0.01 | % | ||||||||||||||||
| ^Studio Find It Georgia Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 5/13/2026 | 22.5 | 20.4 | 18.0 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Luv 2 Play OC Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 5/12/2026 | 62.5 | 60.8 | 51.8 | 0.02 | % | ||||||||||||||||
| ^Pumpkin Patch Inc and Christine Feliciano and Antonio Feliciano | Social Assistance | Term Loan | Prime plus 2.75% | 5/12/2041 | 132.5 | 129.7 | 129.9 | 0.05 | % | ||||||||||||||||
| ^The Delon Group LLC dba I Love Juice Bar | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/12/2026 | 55.0 | 19.8 | 16.9 | 0.01 | % | ||||||||||||||||
| ^Sabir Inc. dba Bear Diner | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/11/2041 | 123.8 | 121.3 | 124.8 | 0.05 | % | ||||||||||||||||
| ^Gator D'Lites LLC dba D'Lites Emporium | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 5/5/2026 | 22.5 | 20.4 | 17.4 | 0.01 | % | ||||||||||||||||
| ^Warner Home Comfort, LLC dba Smith Piping | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 4/29/2041 | 82.5 | 80.6 | 80.9 | 0.03 | % | ||||||||||||||||
| ^Keller, Fishback & Jackson LLP | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/29/2026 | 131.7 | 117.6 | 118.9 | 0.05 | % | ||||||||||||||||
| ^Marc S. Rosenberg P.C. dba Mammuth and Rosenberg | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/29/2026 | 22.5 | 20.3 | 17.2 | 0.01 | % | ||||||||||||||||
| ^Euro Car Miami LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 4/29/2026 | 62.5 | 56.3 | 56.9 | 0.02 | % | ||||||||||||||||
| ^Hard Exercise Works Winter Park LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/29/2026 | 40.8 | 36.7 | 31.2 | 0.01 | % | ||||||||||||||||
| ^Loriet LLC | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 4/29/2026 | 7.5 | 6.8 | 5.8 | — | % | ||||||||||||||||
| ^La Nopalera Mexicano 2, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/29/2026 | 125.5 | 84.7 | 85.6 | 0.03 | % | ||||||||||||||||
| ^May-Craft Fiberglass Products Inc | Transportation Equipment Manufacturing | Term Loan | Prime plus 2.75% | 4/29/2041 | 247.5 | 241.8 | 254.0 | 0.10 | % | ||||||||||||||||
| ^Alpha Omega Trucking LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 4/29/2041 | 175.7 | 171.9 | 180.6 | 0.07 | % | ||||||||||||||||
| ^Empowerschool LLC and Empower Autism Academy, LLC | Social Assistance | Term Loan | Prime plus 2.75% | 4/29/2041 | 151.9 | 148.4 | 155.9 | 0.06 | % | ||||||||||||||||
| ^Scoler LLC dba Gold's Gym | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/29/2026 | 262.5 | 236.3 | 211.8 | 0.08 | % | ||||||||||||||||
| ^Inner Beauty Salon and Suite LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 4/28/2041 | 65.0 | 63.5 | 66.1 | 0.03 | % | ||||||||||||||||
| ^Atlantic Restaurant Associates LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/28/2041 | 262.5 | 256.5 | 264.4 | 0.10 | % | ||||||||||||||||
| ^Costume World Inc | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 4/28/2041 | 1,250.0 | 1,225.3 | 1,287.0 | 0.50 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Pecos Inn LLC dba Econo Lodge | Accommodation | Term Loan | Prime plus 2.75% | 4/28/2041 | 677.5 | 659.9 | 679.8 | 0.27 | % | ||||||||||||||||
| ^North American Manufacturing Company | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 4/28/2026 | 160.0 | 144.0 | 145.6 | 0.06 | % | ||||||||||||||||
| ^Shepherd Appraisal Services LLC dba Property Damage Appraisers of Oklahoma | Real Estate | Term Loan | Prime plus 2.75% | 4/28/2026 | 9.0 | 8.1 | 6.9 | — | % | ||||||||||||||||
| ^Knowledge First Inc dba Magic Years of Learning | Social Assistance | Term Loan | Prime plus 2.75% | 4/27/2026 | 80.0 | 72.1 | 68.7 | 0.03 | % | ||||||||||||||||
| ^Green Country Filter Manufacturing LLC | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 4/27/2026 | 84.2 | 76.6 | 67.1 | 0.03 | % | ||||||||||||||||
| ^Accent Comfort Services, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 4/26/2026 | 90.0 | 81.0 | 69.0 | 0.03 | % | ||||||||||||||||
| ^Homecare Casa Rhoda 123 Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2% | 4/26/2041 | 675.0 | 657.8 | 645.8 | 0.25 | % | ||||||||||||||||
| ^Automotive Core Recycling, LLC and 828 Old Colony Road, LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 4/22/2041 | 250.0 | 244.3 | 235.7 | 0.09 | % | ||||||||||||||||
| ^McIntosh Trail Management Services Organization Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 4/22/2041 | 425.0 | 415.3 | 436.2 | 0.17 | % | ||||||||||||||||
| ^Jande Graphics LLC dba FastSigns #103201 | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/21/2026 | 56.0 | 50.4 | 42.9 | 0.02 | % | ||||||||||||||||
| ^AAA Mill Direct, Inc. dba Carpet Mill Outlets | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 4/21/2026 | 7.9 | 7.1 | 7.2 | — | % | ||||||||||||||||
| ^Miguel Fernando Borda, P.A. dba BGR Dental | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 4/15/2026 | 22.5 | 20.3 | 17.9 | 0.01 | % | ||||||||||||||||
| ^LE & JS dba Laredo Mercado Y Carniceria | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 4/13/2026 | 19.9 | 18.5 | 15.8 | 0.01 | % | ||||||||||||||||
| ^Sushiya Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/12/2026 | 87.5 | 78.8 | 70.1 | 0.03 | % | ||||||||||||||||
| ^Sierra Foothill Cremation & Funeral Service, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 4/7/2026 | 53.0 | 47.8 | 40.7 | 0.02 | % | ||||||||||||||||
| ^Waterfalls Quick Lube LLC and Veracruz Shabo LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/6/2041 | 271.3 | 268.2 | 274.0 | 0.11 | % | ||||||||||||||||
| ^KNS Early Learning Academy LLC | Social Assistance | Term Loan | Prime plus 2.75% | 4/6/2041 | 51.0 | 49.9 | 49.7 | 0.02 | % | ||||||||||||||||
| ^Vehicle Safety Supply LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 3/31/2026 | 22.5 | 20.1 | 18.4 | 0.01 | % | ||||||||||||||||
| ^Men of Steel Enterprises LLC and Vogelbacher Properties LLC | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 3/31/2041 | 393.5 | 383.9 | 384.3 | 0.15 | % | ||||||||||||||||
| ^Gill Express Inc and Blue Speed LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/31/2041 | 518.0 | 505.4 | 524.2 | 0.21 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Dana A. Farley dba Independent Cabinets | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 3/31/2041 | 67.5 | 65.9 | 70.2 | 0.03 | % | ||||||||||||||||
| ^Christian Soderquist dba Soderquist Plumbing and Heating LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/31/2041 | 56.8 | 55.4 | 59.0 | 0.02 | % | ||||||||||||||||
| ^Duke's Cleaners Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/31/2026 | 47.0 | 42.0 | 40.7 | 0.02 | % | ||||||||||||||||
| ^Cameo Carter, MD A Professional Corporation dba The Garden Pediatric Group | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/31/2026 | 75.0 | 67.0 | 61.4 | 0.02 | % | ||||||||||||||||
| ^Farhad Brothers LLC dba Lulu's Pizzeria & Family Restaurant and Marvin | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/31/2026 | 66.8 | 56.0 | 51.3 | 0.02 | % | ||||||||||||||||
| ^Gordon Rogers and Heidi Rogers dba Stone House Motor Inn | Accommodation | Term Loan | Prime plus 2.75% | 3/30/2026 | 22.5 | 20.4 | 20.8 | 0.01 | % | ||||||||||||||||
| ^MTS Car Service LLC | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 3/30/2026 | 10.5 | 9.4 | 8.6 | — | % | ||||||||||||||||
| ^NOSO Development, LLC | Construction of Buildings | Term Loan | Prime plus 2.75% | 3/30/2026 | 187.5 | 167.5 | 153.5 | 0.06 | % | ||||||||||||||||
| ^Wyldewood Cellars, Inc. | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 3/30/2041 | 986.7 | 974.2 | 987.2 | 0.39 | % | ||||||||||||||||
| ^Tom Sawyer Country Restaurant LLC and AM 3208 LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/30/2041 | 257.5 | 252.0 | 266.1 | 0.10 | % | ||||||||||||||||
| ^Beale Street Blues Company-West Palm Beach, LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 3/30/2026 | 93.7 | 83.8 | 78.2 | 0.03 | % | ||||||||||||||||
| ^Barrocas Gym LLC dba Snap Fitness | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/29/2026 | 22.5 | 17.8 | 17.2 | 0.01 | % | ||||||||||||||||
| ^Lust for Life Footwear, LLC | Leather and Allied Product Manufacturing | Term Loan | Prime plus 2.75% | 3/29/2026 | 375.0 | 335.1 | 307.0 | 0.12 | % | ||||||||||||||||
| ^Vinmar Inc. dba Locanda Portofino | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/29/2026 | 81.3 | 72.6 | 66.5 | 0.03 | % | ||||||||||||||||
| ^Atlantis of Daytona LLC and Pierre Mamane and Eva Mamane | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2% | 3/29/2041 | 525.0 | 495.2 | 500.5 | 0.20 | % | ||||||||||||||||
| ^Marathon Engineering Corporation | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 3/28/2041 | 45.0 | 43.9 | 46.1 | 0.02 | % | ||||||||||||||||
| ^ReNew Interior Surface Cleaning LLC dba Randy's Carpet Care and Upholstry | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/28/2026 | 12.4 | 11.1 | 11.2 | — | % | ||||||||||||||||
| ^PHCDC1 LLC dba Quarter + Glory and Public House Collective, Corp. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/28/2026 | 50.0 | 44.7 | 42.5 | 0.02 | % | ||||||||||||||||
| ^Revolution Physical Therapy LLC dba Apex Network Physical Therapy | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/25/2026 | 22.5 | 20.4 | 19.0 | 0.01 | % | ||||||||||||||||
| ^RCB Enterprises, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/25/2026 | 56.3 | 50.3 | 46.1 | 0.02 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Excel RP Inc | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 3/25/2026 | 125.0 | 111.7 | 106.7 | 0.04 | % | ||||||||||||||||
| ^ActKnowledge, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/24/2026 | 125.0 | 111.7 | 113.9 | 0.04 | % | ||||||||||||||||
| ^International Construction Inc | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 3/24/2041 | 50.0 | 48.9 | 50.4 | 0.02 | % | ||||||||||||||||
| ^Lowgap Grocery & Grill LLC | General Merchandise Stores | Term Loan | Prime plus 2.75% | 3/24/2041 | 167.5 | 163.4 | 174.2 | 0.07 | % | ||||||||||||||||
| ^Flooring Liquidators Inc and Premier Flooring Yonkers Inc and Flooring | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/24/2026 | 50.0 | 44.8 | 45.0 | 0.02 | % | ||||||||||||||||
| ^Acton Hardware LLC and Mark Allgood & Jamie Allgood | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 3/24/2041 | 498.6 | 486.8 | 496.1 | 0.19 | % | ||||||||||||||||
| ^Magnation Corporation and Misha Family Trust | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 3/22/2041 | 101.3 | 99.1 | 105.6 | 0.04 | % | ||||||||||||||||
| ^growth.period LLC and Potomac Recruiting LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/21/2026 | 156.3 | 139.6 | 127.9 | 0.05 | % | ||||||||||||||||
| ^Precious Care LLC and Precious Care Management LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/21/2026 | 557.5 | 498.9 | 459.2 | 0.18 | % | ||||||||||||||||
| ^Media Capital Partners, Inc | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 3/21/2026 | 22.5 | 20.5 | 18.8 | 0.01 | % | ||||||||||||||||
| ^Taylors Zinn Enterprises Inc dba Eons Auto Care Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/18/2041 | 80.7 | 78.8 | 83.5 | 0.03 | % | ||||||||||||||||
| ^ERT Group Inc and Curt's Tools Inspection Inc | Support Activities for Mining | Term Loan | Prime plus 2.75% | 3/18/2041 | 1,250.0 | 1,229.9 | 1,272.0 | 0.50 | % | ||||||||||||||||
| ^Kekoa Enterprises Inc dba Signarama Sandy | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/18/2026 | 49.5 | 44.2 | 40.5 | 0.02 | % | ||||||||||||||||
| ^Mariam Diner Inc dba Country Kitchen Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/18/2026 | 52.5 | 46.9 | 43.0 | 0.02 | % | ||||||||||||||||
| ^Brian T Rice dba BD Logging | Forestry and Logging | Term Loan | Prime plus 2.75% | 3/17/2026 | 15.8 | 14.1 | 13.5 | 0.01 | % | ||||||||||||||||
| ^Auto and Property Insurance Solutions | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 3/16/2026 | 16.4 | 14.5 | 13.2 | 0.01 | % | ||||||||||||||||
| ^Demand Printing Solutions Inc. | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 3/16/2026 | 21.8 | 19.4 | 19.2 | 0.01 | % | ||||||||||||||||
| ^LAN Doctors Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/16/2026 | 55.0 | 49.2 | 50.2 | 0.02 | % | ||||||||||||||||
| ^Evergreen Pallet LLC and Evergreen Recycle LLC | Wood Product Manufacturing | Term Loan | Prime plus 2.75% | 3/16/2026 | 1,039.2 | 931.4 | 886.2 | 0.35 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^K Soles Corp dba Max Collections | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 3/16/2026 | 22.5 | 20.1 | 18.4 | 0.01 | % | ||||||||||||||||
| ^R & D Enterprises Inc dba My Pool Man | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/15/2026 | 50.0 | 44.7 | 40.9 | 0.02 | % | ||||||||||||||||
| ^Mustafa Inc and Raouf Properties LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/14/2041 | 75.0 | 73.2 | 77.4 | 0.03 | % | ||||||||||||||||
| ^HEWZ, LLC dba Hard Exercise Works | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/14/2026 | 22.5 | 20.1 | 18.4 | 0.01 | % | ||||||||||||||||
| ^Country Paint and Hardware Inc | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 3/11/2026 | 87.4 | 78.1 | 72.6 | 0.03 | % | ||||||||||||||||
| ^Wilban LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/11/2026 | 105.0 | 95.0 | 93.8 | 0.04 | % | ||||||||||||||||
| ^Dupre Capital LLC dba Fastsigns | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 3/11/2026 | 58.4 | 52.2 | 47.8 | 0.02 | % | ||||||||||||||||
| ^Magill Truck Line LLC and Jeff J. Ralls | Truck Transportation | Term Loan | Prime plus 2.75% | 3/11/2029 | 210.8 | 195.3 | 187.6 | 0.07 | % | ||||||||||||||||
| ^Accuair Control Systems LLC dba Accuair Suspension | Transportation Equipment Manufacturing | Term Loan | Prime plus 2.75% | 3/11/2026 | 150.0 | 134.0 | 124.7 | 0.05 | % | ||||||||||||||||
| ^ABCs & 123s Infant and Child Care Center LP | Social Assistance | Term Loan | Prime plus 2.75% | 3/11/2026 | 11.2 | 10.1 | 9.2 | — | % | ||||||||||||||||
| ^State Painting & Decorating Co., Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/10/2026 | 103.8 | 92.7 | 84.9 | 0.03 | % | ||||||||||||||||
| ^B.P.T.M. of NV LLC and Agentis Bros., LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/9/2041 | 525.0 | 512.2 | 532.4 | 0.21 | % | ||||||||||||||||
| ^Step Up Academy of the Arts LLC | Educational Services | Term Loan | Prime plus 2.75% | 3/9/2026 | 8.0 | 7.2 | 6.6 | — | % | ||||||||||||||||
| ^A & A Auto Care LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/9/2026 | 12.1 | 10.9 | 10.9 | — | % | ||||||||||||||||
| ^Faith Summit Supply Inc dba Summit Supply and Summit True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 3/9/2026 | 22.5 | 20.1 | 19.3 | 0.01 | % | ||||||||||||||||
| ^Swerve Salon LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/8/2026 | 79.0 | 70.6 | 64.7 | 0.03 | % | ||||||||||||||||
| ^J & W Hardwood Flooring Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/7/2026 | 7.5 | 6.7 | 6.1 | — | % | ||||||||||||||||
| ^Labmates LLC and POV Holdings LLC | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 3/4/2041 | 109.3 | 106.6 | 113.6 | 0.04 | % | ||||||||||||||||
| ^Hueston and Company CPA LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/4/2026 | 8.3 | 7.3 | 6.8 | — | % | ||||||||||||||||
| ^Almost Home Daycare LLC | Social Assistance | Term Loan | Prime plus 2.75% | 3/3/2026 | 50.0 | 45.0 | 45.3 | 0.02 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Miles of Smiles Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/2/2026 | 93.5 | 85.1 | 79.1 | 0.03 | % | ||||||||||||||||
| ^Living Essentials HVAC Corp | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 2/28/2026 | 15.0 | 13.3 | 12.3 | — | % | ||||||||||||||||
| ^Consulting Solutions, Inc. and Mark Luciani | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 2/28/2026 | 11.2 | 10.0 | 10.1 | — | % | ||||||||||||||||
| ^Powerpits CS1, LLC dba Pita Pit | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2026 | 18.8 | 16.6 | 15.8 | 0.01 | % | ||||||||||||||||
| ^Drug Detection Laboratories, Inc. and Minh Tran | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 2/28/2026 | 19.8 | 17.5 | 16.3 | 0.01 | % | ||||||||||||||||
| ^Doxa Deo Inc dba Luv 2 Play | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/28/2026 | 105.0 | 97.3 | 91.2 | 0.04 | % | ||||||||||||||||
| ^The River Beas, LLC dba Subway and Punam Singh | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2041 | 135.9 | 132.7 | 140.4 | 0.05 | % | ||||||||||||||||
| ^Blackstones Hairdressing LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/23/2026 | 52.0 | 46.5 | 42.9 | 0.02 | % | ||||||||||||||||
| ^Aaradhya LLC dba Market Square Laundry | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/23/2026 | 80.0 | 70.9 | 65.0 | 0.03 | % | ||||||||||||||||
| ^R-No-Landscaping LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/19/2026 | 8.3 | 7.3 | 6.8 | — | % | ||||||||||||||||
| ^BER Enterprise 332 Inc dba Edible Arrangements | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 2/19/2026 | 22.5 | 20.0 | 18.4 | 0.01 | % | ||||||||||||||||
| ^R & K Contracting Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 2/18/2026 | 15.8 | 14.1 | 14.1 | 0.01 | % | ||||||||||||||||
| ^Pacific Coast Medical Group LLC dba Celebrity Laser Spa and Advanced | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 2/17/2026 | 245.0 | 217.3 | 221.6 | 0.09 | % | ||||||||||||||||
| ^B for Blonde, LLC dba Blo Blow Dry Bar | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/12/2026 | 62.0 | 55.7 | 51.1 | 0.02 | % | ||||||||||||||||
| ^Gilmore Heights Dental Holdings, LTD and Chas Rob LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 2/12/2029 | 310.3 | 286.3 | 277.9 | 0.11 | % | ||||||||||||||||
| ^Ei3 Corporation | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 2/12/2026 | 326.9 | 289.9 | 295.7 | 0.12 | % | ||||||||||||||||
| ^Jersey Shore Marina & Boat Sales, Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/12/2041 | 625.0 | 609.7 | 650.0 | 0.25 | % | ||||||||||||||||
| ^Base USA, Inc. | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 2/2/2026 | 50.0 | 44.4 | 45.3 | 0.02 | % | ||||||||||||||||
| ^Zouk Ltd dba Palma | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/29/2026 | 22.5 | 19.8 | 20.2 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Tammy Lavertue | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 1/28/2026 | 11.3 | 9.9 | 9.9 | — | % | ||||||||||||||||
| ^SuzyQue's LLC dba SuzyQue's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/28/2026 | 22.5 | 19.8 | 20.2 | 0.01 | % | ||||||||||||||||
| ^Wildflour Bakery & Cafe LLC | Social Assistance | Term Loan | Prime plus 2.75% | 1/28/2026 | 62.5 | 55.0 | 55.5 | 0.02 | % | ||||||||||||||||
| ^New Image Building Services, Inc. dba The Maids serving Oakland | Administrative and Support Services | Term Loan | Prime plus 2.75% | 1/19/2026 | 83.1 | 73.2 | 69.3 | 0.03 | % | ||||||||||||||||
| ^Oak Tree Storage LLC | Other Information Services | Term Loan | Prime plus 2.75% | 1/19/2026 | 78.8 | 69.3 | 64.3 | 0.03 | % | ||||||||||||||||
| ^Gendron Funeral and Cremation Services, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 1/11/2041 | 112.5 | 108.0 | 115.1 | 0.05 | % | ||||||||||||||||
| ^Dolarian Realty LLC and OV's Restaurant Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/5/2041 | 67.8 | 66.0 | 70.4 | 0.03 | % | ||||||||||||||||
| #CIRCULAR! | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/29/2025 | 112.5 | 98.3 | 92.4 | 0.04 | % | ||||||||||||||||
| ^MCF Forte LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/29/2025 | 18.8 | 16.4 | 15.1 | 0.01 | % | ||||||||||||||||
| ^Panditos LLC dba White Lotus Home | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 12/28/2025 | 15.9 | 13.9 | 12.7 | — | % | ||||||||||||||||
| ^Bright Dialysis LLC and Ft Pierce Kidney Care LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/28/2025 | 1,250.0 | 1,092.1 | 1,002.2 | 0.39 | % | ||||||||||||||||
| ^V2 Tango LLC dba Palette 22 | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/23/2025 | 250.0 | 218.4 | 204.3 | 0.08 | % | ||||||||||||||||
| ^Ridge Road Equestrian LLC dba Ricochet Ridge Ranch Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/23/2040 | 102.5 | 99.5 | 103.9 | 0.04 | % | ||||||||||||||||
| ^Optima Health Care Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/23/2025 | 62.5 | 54.6 | 55.7 | 0.02 | % | ||||||||||||||||
| ^800 on the Trax LLC and Matrix Z LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 12/23/2040 | 240.0 | 234.1 | 243.4 | 0.10 | % | ||||||||||||||||
| ^Joyce Outdoor Advertising Chicago LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/22/2040 | 300.0 | 293.1 | 303.6 | 0.12 | % | ||||||||||||||||
| ^The LAX Shop Inc | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 12/22/2025 | 125.0 | 85.4 | 87.1 | 0.03 | % | ||||||||||||||||
| ^Premier Athletic Center of Ohio Inc. and Gates Investments | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/22/2028 | 882.0 | 804.8 | 829.2 | 0.32 | % | ||||||||||||||||
| #CIRCULAR! | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/21/2025 | 18.0 | 15.7 | 14.9 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| #CIRCULAR! | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/18/2040 | 1,025.0 | 994.8 | 1,060.0 | 0.41 | % | ||||||||||||||||
| #CIRCULAR! | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/18/2025 | 175.0 | 152.9 | 140.0 | 0.05 | % | ||||||||||||||||
| #CIRCULAR! | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/18/2025 | 73.0 | 65.4 | 61.1 | 0.02 | % | ||||||||||||||||
| #CIRCULAR! | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/18/2025 | 36.0 | 30.4 | 28.2 | 0.01 | % | ||||||||||||||||
| ^Accent Tag and Label Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 12/18/2040 | 665.8 | 644.4 | 671.7 | 0.26 | % | ||||||||||||||||
| ^Labmates LLC | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 12/18/2040 | 162.5 | 157.7 | 168.0 | 0.07 | % | ||||||||||||||||
| ^Abbondanza Market LLC dba Hampton Falls Village Market | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/18/2025 | 73.7 | 58.8 | 55.0 | 0.02 | % | ||||||||||||||||
| ^Mustafa Inc dba Adiba Grocery | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/17/2025 | 103.8 | 91.2 | 92.9 | 0.04 | % | ||||||||||||||||
| ^Learning Skills LLC and Christopher Shrope | Educational Services | Term Loan | Prime plus 2.75% | 12/17/2025 | 10.8 | 9.4 | 8.6 | — | % | ||||||||||||||||
| ^New York Home Health Care Equipment, LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/16/2025 | 875.0 | 767.0 | 775.6 | 0.30 | % | ||||||||||||||||
| ^Moments to Remember USA LLC dba Retain Loyalty | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/16/2025 | 75.0 | 65.6 | 64.2 | 0.03 | % | ||||||||||||||||
| ^Swalm Sreet LLC and New York Home Health Care Equipment LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/16/2040 | 375.0 | 365.3 | 385.8 | 0.15 | % | ||||||||||||||||
| ^Abitino's JFK LLC dba Abitino's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/16/2022 | 125.0 | 102.0 | 96.2 | 0.04 | % | ||||||||||||||||
| ^JAG Unit 1, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/16/2025 | 250.0 | 218.4 | 200.0 | 0.08 | % | ||||||||||||||||
| ^SDA Holdings LLC and Les Cheveux Salon Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 12/15/2040 | 428.8 | 418.2 | 431.3 | 0.17 | % | ||||||||||||||||
| ^Evans & Paul LLC and E&P Holdings I LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 12/15/2025 | 125.0 | 109.2 | 102.3 | 0.04 | % | ||||||||||||||||
| ^Basista Family Limited Partnership and UPE, Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 12/14/2040 | 342.5 | 332.4 | 345.5 | 0.14 | % | ||||||||||||||||
| ^DC Enterprises Ltd. dba Lakeview True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 12/14/2025 | 22.5 | 19.7 | 19.5 | 0.01 | % | ||||||||||||||||
| ^Tri-State Remodeling & Investments, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/11/2025 | 15.9 | 13.9 | 13.9 | 0.01 | % | ||||||||||||||||
| ^AGR Foodmart Inc dba Nashua Road Mobil | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/11/2025 | 22.5 | 19.7 | 19.4 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Alexandra Afentoulides dba Vi's Pizza Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/11/2040 | 46.3 | 44.9 | 47.8 | 0.02 | % | ||||||||||||||||
| #CIRCULAR! | Social Assistance | Term Loan | Prime plus 2.75% | 12/10/2025 | 7.5 | 6.6 | 6.7 | — | % | ||||||||||||||||
| #CIRCULAR! | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/9/2025 | 100.0 | 87.4 | 82.0 | 0.03 | % | ||||||||||||||||
| #CIRCULAR! | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/8/2025 | 108.7 | 95.0 | 89.4 | 0.03 | % | ||||||||||||||||
| #CIRCULAR! | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/7/2025 | 56.3 | 30.9 | 28.3 | 0.01 | % | ||||||||||||||||
| ^Food & Fuel Company LLC dba Lowery Food Mart | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/4/2040 | 122.5 | 118.9 | 126.7 | 0.05 | % | ||||||||||||||||
| ^Blue Ox Trucking Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 12/4/2025 | 12.3 | 4.7 | 4.7 | — | % | ||||||||||||||||
| ^LC Blvd Holdings LLC and Mt Pleasant Wash & Wax LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/4/2040 | 502.5 | 488.4 | 512.4 | 0.20 | % | ||||||||||||||||
| #CIRCULAR! | Accommodation | Term Loan | Prime plus 2.75% | 12/4/2040 | 293.0 | 284.4 | 298.8 | 0.12 | % | ||||||||||||||||
| ^Tariq, LLC dba 76 Food Mart | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/2/2040 | 375.0 | 363.9 | 382.2 | 0.15 | % | ||||||||||||||||
| ^401 JJS, Corp and G. Randazzo's Trattoria Corporation | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/1/2040 | 52.7 | 51.5 | 53.5 | 0.02 | % | ||||||||||||||||
| ^Delta Aggregate, LLC | Mining (except Oil and Gas) | Term Loan | Prime plus 2.75% | 11/30/2025 | 100.0 | 90.8 | 92.6 | 0.04 | % | ||||||||||||||||
| ^Block and Grinder LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/30/2025 | 200.0 | 55.3 | 56.4 | 0.02 | % | ||||||||||||||||
| ^Hurshell Leon Dutton dba High Jump Party Rentals | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 11/30/2025 | 17.6 | 15.2 | 15.4 | 0.01 | % | ||||||||||||||||
| ^Japp Business Inc dba Pick and Eat and Japp Drink Corp. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/30/2025 | 125.0 | 108.9 | 103.3 | 0.04 | % | ||||||||||||||||
| ^Smokeyard Inc dba Smokeyard BBQ and Chop Shop | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/30/2025 | 125.0 | 108.4 | 100.7 | 0.04 | % | ||||||||||||||||
| ^Medeiros Holdings Inc dba Outdoor Lighting Perspectives of the Triad | Electrical Equipment, Appliance, and Component Manufacturing | Term Loan | Prime plus 2.75% | 11/25/2025 | 22.5 | 19.5 | 17.9 | 0.01 | % | ||||||||||||||||
| ^DWeb Studio, Inc. | Educational Services | Term Loan | Prime plus 2.75% | 11/25/2025 | 11.3 | 9.8 | 8.9 | — | % | ||||||||||||||||
| #CIRCULAR! | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/25/2025 | 100.0 | 62.7 | 57.4 | 0.02 | % | ||||||||||||||||
| ^Sambella Holdings, LLC and Strike Zone Entertainment Center LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/23/2040 | 750.0 | 738.3 | 782.8 | 0.31 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Play and Learn Child Care and School Inc | Social Assistance | Term Loan | Prime plus 2.75% | 11/23/2025 | 11.1 | 9.6 | 9.8 | — | % | ||||||||||||||||
| ^Ronny Ramirez RX Corp dba Naturxheal Family Pharmacy | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 11/20/2025 | 89.0 | 78.2 | 72.6 | 0.03 | % | ||||||||||||||||
| ^Haven Hospitality Group Inc. dba Haven Gastropub | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/20/2025 | 132.5 | 114.9 | 106.5 | 0.04 | % | ||||||||||||||||
| ^CNYP 717 Irondequoit LLC and CNYP 2002 Ontario LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/20/2040 | 244.4 | 237.1 | 238.0 | 0.09 | % | ||||||||||||||||
| ^S.B.B. Enterprises Inc dba Williamston Hardware | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 11/19/2040 | 108.8 | 105.1 | 105.8 | 0.04 | % | ||||||||||||||||
| ^Key Pix Productions Inc. dba Air Bud Entertainment | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 11/18/2040 | 839.8 | 813.6 | 867.0 | 0.34 | % | ||||||||||||||||
| ^RDT Enterprises, L.L.C. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/12/2025 | 22.5 | 19.5 | 19.2 | 0.01 | % | ||||||||||||||||
| ^E.S.F.P. LLC dba Volusia Van and Storage | Truck Transportation | Term Loan | Prime plus 2.75% | 11/11/2025 | 91.3 | 77.2 | 71.8 | 0.03 | % | ||||||||||||||||
| ^Green Life Lawnscapes LLC dba Green Life Lawn Care | Administrative and Support Services | Term Loan | Prime plus 2.75% | 11/6/2025 | 127.3 | 110.3 | 111.1 | 0.04 | % | ||||||||||||||||
| ^Jumbomarkets Inc dba Rines Jumbomarkets | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 11/4/2025 | 306.2 | 265.5 | 266.6 | 0.10 | % | ||||||||||||||||
| ^Bisson Transportation Inc dba I & R Associates and Document Secutiry | Truck Transportation | Term Loan | Prime plus 2.75% | 10/30/2025 | 22.5 | 19.3 | 19.0 | 0.01 | % | ||||||||||||||||
| ^L.M. Jury Enterprises, Inc dba Midwest Monograms | Textile Product Mills | Term Loan | Prime plus 2.75% | 10/28/2025 | 77.0 | 66.2 | 61.5 | 0.02 | % | ||||||||||||||||
| ^Top Cat Ready Mix, LLC, Ples Investments LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 10/28/2025 | 711.3 | 611.6 | 574.7 | 0.22 | % | ||||||||||||||||
| ^Financial Network Recovery | Administrative and Support Services | Term Loan | Prime plus 2.75% | 10/26/2025 | 40.0 | 34.4 | 31.5 | 0.01 | % | ||||||||||||||||
| ^Windsor Direct Distribution LLC | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 10/26/2025 | 14.2 | 12.3 | 11.2 | — | % | ||||||||||||||||
| ^Tannehill Enterprises Inc dba Hobbytown USA Folsom | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 10/14/2025 | 87.4 | 75.1 | 68.8 | 0.03 | % | ||||||||||||||||
| ^ADMO Inc dba Mid States Equipment | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 10/8/2025 | 22.5 | 19.3 | 18.0 | 0.01 | % | ||||||||||||||||
| ^Recycling Consultants, Inc. and Prairie State Salvage and Recycling Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/30/2027 | 767.5 | 679.9 | 651.9 | 0.26 | % | ||||||||||||||||
| ^Bat Bridge Investments Inc dba Kalologie 360 Spa | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/30/2025 | 85.5 | 74.4 | 68.1 | 0.03 | % | ||||||||||||||||
| ^Binky's Vapes LLC | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 9/30/2025 | 22.5 | 19.2 | 17.6 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^SCJEN Management Inc dba Bowl of Heaven | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/30/2025 | 71.2 | 61.4 | 56.2 | 0.02 | % | ||||||||||||||||
| ^Naeem Khan LTD | Apparel Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2025 | 125.0 | 106.6 | 97.5 | 0.04 | % | ||||||||||||||||
| ^Accent Homes Services LLC dba Benjamin Franklin Plumbing of Kansas City | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/30/2028 | 66.5 | 59.7 | 60.1 | 0.02 | % | ||||||||||||||||
| ^Barub Realty LLC and Barub LLC dba Woodlawn Cabinets | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 9/30/2040 | 143.0 | 138.1 | 146.9 | 0.06 | % | ||||||||||||||||
| ^R.H. Hummer Jr., Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 9/30/2025 | 375.0 | 335.1 | 332.6 | 0.13 | % | ||||||||||||||||
| ^Greensward of Marco Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/28/2040 | 87.5 | 84.5 | 87.5 | 0.03 | % | ||||||||||||||||
| ^RIM Investments LLC and RIM Architects LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/28/2040 | 399.0 | 385.3 | 397.8 | 0.16 | % | ||||||||||||||||
| ^The Grasso Companies LLC and Grasso Pavement Maintenance LLC | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 9/28/2025 | 518.7 | 438.2 | 446.2 | 0.17 | % | ||||||||||||||||
| ^South Towne Dental Center, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/25/2025 | 50.0 | 42.7 | 43.5 | 0.02 | % | ||||||||||||||||
| ^Sandlot Ventures LLC and Sandbox Ventures LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/25/2040 | 442.5 | 430.0 | 439.6 | 0.17 | % | ||||||||||||||||
| ^Yachting Solutions LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 9/25/2040 | 962.5 | 929.5 | 949.4 | 0.37 | % | ||||||||||||||||
| ^Prestigious LifeCare for Seniors LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/25/2025 | 9.8 | 8.4 | 8.1 | — | % | ||||||||||||||||
| ^Daniel W. Stark dba Mountain Valley Lodge and RV Park | Accommodation | Term Loan | Prime plus 2.75% | 9/25/2040 | 13.5 | 13.0 | 13.9 | 0.01 | % | ||||||||||||||||
| ^J.R. Wheeler Corporation dba Structurz Exhibits and Graphics | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 10/24/2025 | 21.0 | 18.0 | 18.3 | 0.01 | % | ||||||||||||||||
| ^St Lawrence Hotel Corp and Oheka Catering Inc dba Quality Inn | Accommodation | Term Loan | Prime plus 2.75% | 9/24/2040 | 625.0 | 603.5 | 628.6 | 0.25 | % | ||||||||||||||||
| ^Hagerstown Muffler, Inc. and JMS Muffler, Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/24/2040 | 327.5 | 316.3 | 336.8 | 0.13 | % | ||||||||||||||||
| ^Rutledge Enterprises Inc dba BLC Property Management | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/23/2040 | 62.5 | 59.9 | 62.4 | 0.02 | % | ||||||||||||||||
| ^Finish Strong Inc dba FASTSIGNS St Peters | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 9/23/2025 | 50.0 | 42.7 | 39.0 | 0.02 | % | ||||||||||||||||
| ^J3K LLC dba Ronan True Value Hardware | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 9/23/2025 | 152.5 | 130.1 | 119.0 | 0.05 | % | ||||||||||||||||
| ^Nova Solutions Inc | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 9/22/2040 | 320.0 | 309.0 | 322.1 | 0.13 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Pine Belt Wood Products LLC | Forestry and Logging | Term Loan | Prime plus 2.75% | 9/22/2040 | 163.7 | 158.1 | 156.6 | 0.06 | % | ||||||||||||||||
| ^IIoka Inc dba New Cloud Networks | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/21/2025 | 665.0 | 570.1 | 521.4 | 0.20 | % | ||||||||||||||||
| ^Sound Manufacturing Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/21/2025 | 50.0 | 42.7 | 40.5 | 0.02 | % | ||||||||||||||||
| ^MiJoy Inc dba Imo's Pizza | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/18/2025 | 8.2 | 7.0 | 6.4 | — | % | ||||||||||||||||
| ^Vanderhoof LLC dba Soxfords | Apparel Manufacturing | Term Loan | Prime plus 2.75% | 9/18/2025 | 15.9 | 13.6 | 12.4 | — | % | ||||||||||||||||
| ^Naeem Khan LTD | Apparel Manufacturing | Term Loan | Prime plus 2.75% | 9/17/2025 | 125.0 | 106.6 | 97.5 | 0.04 | % | ||||||||||||||||
| ^Import Car Connection Inc dba Car Connection | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 9/16/2040 | 407.5 | 393.5 | 416.2 | 0.16 | % | ||||||||||||||||
| ^FirstVitals Health and Wellness Inc | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/15/2025 | 150.0 | 128.0 | 117.0 | 0.05 | % | ||||||||||||||||
| ^Almost Home Daycare LLC | Social Assistance | Term Loan | Prime plus 2.75% | 9/11/2025 | 62.5 | 53.7 | 54.5 | 0.02 | % | ||||||||||||||||
| ^Veliu LLC dba FASTSIGNS #15901 | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 9/10/2025 | 50.0 | 43.2 | 40.3 | 0.02 | % | ||||||||||||||||
| ^B and A Friction Materials Inc | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/9/2025 | 102.5 | 85.2 | 77.9 | 0.03 | % | ||||||||||||||||
| ^Gardner's Wharf Holdings LLC and Gardner's Wharf Seafood Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 9/8/2040 | 140.0 | 135.2 | 144.0 | 0.06 | % | ||||||||||||||||
| ^AIG Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/4/2040 | 363.8 | 351.3 | 356.0 | 0.14 | % | ||||||||||||||||
| ^Empower Autism Academy | Social Assistance | Term Loan | Prime plus 2.75% | 9/4/2040 | 685.0 | 661.5 | 704.4 | 0.28 | % | ||||||||||||||||
| ^Higher Grounds Community Coffeehouse, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/2/2025 | 8.3 | 7.0 | 6.6 | — | % | ||||||||||||||||
| ^Delray Scrap Recycling LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 8/31/2025 | 22.5 | 18.8 | 17.2 | 0.01 | % | ||||||||||||||||
| ^The Camera House Inc | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 8/31/2025 | 1,250.0 | 1,057.8 | 1,022.6 | 0.40 | % | ||||||||||||||||
| ^LAN Doctors Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/28/2025 | 81.2 | 68.8 | 66.1 | 0.03 | % | ||||||||||||||||
| ^Elite Institute LLC dba Huntington Learning Center | Educational Services | Term Loan | Prime plus 2.75% | 8/28/2025 | 15.0 | 12.9 | 11.8 | — | % | ||||||||||||||||
| ^J and K Fitness L.L.C. dba Physiques Womens Fitness Center | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/28/2041 | 93.7 | 91.5 | 96.2 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Zephyr Seven Series LLC dba 18/8 Fine Men's Salon | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 8/28/2025 | 81.3 | 71.3 | 66.2 | 0.03 | % | ||||||||||||||||
| ^B and J Catering Inc dba Culinary Solutions | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/27/2040 | 547.5 | 532.9 | 546.2 | 0.21 | % | ||||||||||||||||
| ^3000 CSI Property LLC and Consulting Solutions Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/20/2040 | 137.5 | 132.6 | 140.0 | 0.05 | % | ||||||||||||||||
| ^God Be Glorified Inc dba GBG Inc | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 8/20/2025 | 53.0 | 44.9 | 41.0 | 0.02 | % | ||||||||||||||||
| ^GDP Gourmet LLC dba Joe and John's Pizza Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/19/2040 | 145.0 | 139.8 | 145.0 | 0.06 | % | ||||||||||||||||
| ^Gold Jet Corp. | Couriers and Messengers | Term Loan | Prime plus 2.75% | 8/14/2025 | 68.3 | 61.0 | 58.6 | 0.02 | % | ||||||||||||||||
| ^SKJ Inc dba Subway | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/13/2025 | 84.8 | 71.7 | 66.2 | 0.03 | % | ||||||||||||||||
| ^LP Industries Inc dba Childforms | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 7/29/2025 | 125.0 | 105.2 | 103.1 | 0.04 | % | ||||||||||||||||
| ^Pauley Tree and Lawn Care Inc | Administrative and Support Services | Term Loan | Prime plus 2.75% | 7/28/2025 | 65.8 | 56.1 | 53.4 | 0.02 | % | ||||||||||||||||
| ^Beale Street Blues Company-West Palm Beach LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 7/24/2025 | 66.3 | 55.6 | 52.2 | 0.02 | % | ||||||||||||||||
| ^Forever & Always of Naples Inc dba Island Animal Hospital | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/24/2025 | 107.5 | 82.9 | 80.2 | 0.03 | % | ||||||||||||||||
| ^Smart Artists Inc. | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 7/23/2025 | 22.5 | 18.9 | 17.3 | 0.01 | % | ||||||||||||||||
| ^Pooh's Corner Realty LLC and Pooh's Corner Inc | Social Assistance | Term Loan | Prime plus 2.75% | 7/23/2040 | 103.8 | 100.3 | 106.4 | 0.04 | % | ||||||||||||||||
| ^Free Ion Advisors LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/21/2025 | 64.3 | 53.9 | 49.3 | 0.02 | % | ||||||||||||||||
| ^Murrayville Donuts, Inc dba Dunkin' Donuts | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 7/15/2040 | 344.5 | 335.4 | 343.5 | 0.13 | % | ||||||||||||||||
| ^Union 2 LLC dba The Standard | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/10/2025 | 91.5 | 82.9 | 80.2 | 0.03 | % | ||||||||||||||||
| ^BJ's Tavern LLC and BJ's Cabana Bar Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2040 | 212.5 | 204.2 | 212.6 | 0.08 | % | ||||||||||||||||
| ^Jonathan E Nichols and Nichols Fire and Security LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/30/2025 | 75.0 | 62.4 | 61.9 | 0.02 | % | ||||||||||||||||
| ^Thrifty Market, Inc. dba Thrifty Foods | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/30/2030 | 262.5 | 237.8 | 228.2 | 0.09 | % | ||||||||||||||||
| ^Danny V, LLC dba Hugo's Taproom | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2040 | 54.0 | 45.7 | 46.1 | 0.02 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Anglin Cultured Stone Products LLC dba Anglin Construction | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/30/2025 | 281.7 | 234.5 | 221.3 | 0.09 | % | ||||||||||||||||
| ^Advanced Skincare Medcenter Inc dba Advanced Skincare Surgery | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/29/2025 | 337.5 | 280.9 | 260.0 | 0.10 | % | ||||||||||||||||
| ^Summit Beverage Group LLC | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 8/29/2030 | 291.9 | 264.9 | 257.8 | 0.10 | % | ||||||||||||||||
| ^Myclean Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/29/2025 | 15.9 | 13.2 | 12.1 | — | % | ||||||||||||||||
| ^E & G Enterprises LLC dba Comfort Keepers | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/26/2025 | 22.5 | 18.7 | 17.2 | 0.01 | % | ||||||||||||||||
| ^SofRep, Inc dba Force 12 Media | Other Information Services | Term Loan | Prime plus 2.75% | 6/26/2025 | 66.3 | 55.1 | 50.4 | 0.02 | % | ||||||||||||||||
| ^TJU-DGT Inc dba The Lorenz Cafe | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/26/2029 | 20.6 | 18.5 | 19.1 | 0.01 | % | ||||||||||||||||
| ^Jihan Inc dba ARCO AM/PM and Diana Inc dba Diana's Recycling | Gasoline Stations | Term Loan | Prime plus 2.75% | 6/26/2040 | 380.0 | 365.1 | 378.2 | 0.15 | % | ||||||||||||||||
| ^CEM Autobody LLC dba Dawn's Autobody | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/26/2040 | 135.5 | 130.2 | 133.9 | 0.05 | % | ||||||||||||||||
| ^Wolf Enviro Interests, LLC and Enviromax Services Inc | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/25/2040 | 246.5 | 237.2 | 237.4 | 0.09 | % | ||||||||||||||||
| ^Ohs Auto Body, Inc. dba Ohs Body Shop | Repair and Maintenance | Term Loan | 7.465% | 6/25/2040 | 1,207.5 | 1,172.3 | 1,204.2 | 0.47 | % | ||||||||||||||||
| ^Evinger PA One, Inc. dba Postal Annex, Falcon | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 6/24/2025 | 22.5 | 18.7 | 17.9 | 0.01 | % | ||||||||||||||||
| ^Amboy Group, LLC dba Tommy's Moloney's | Food Manufacturing | Term Loan | Prime plus 2.75% | 6/24/2025 | 454.0 | 387.4 | 394.2 | 0.15 | % | ||||||||||||||||
| ^Richards Plumbing and Heating Co., Inc. dba Richards Mechanical | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/23/2040 | 551.7 | 530.1 | 564.2 | 0.22 | % | ||||||||||||||||
| ^RJI Services, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/23/2025 | 22.5 | 18.6 | 17.0 | 0.01 | % | ||||||||||||||||
| ^Real Help LLC dba Real Help Decorative Concrete | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/22/2025 | 53.1 | 44.2 | 44.7 | 0.02 | % | ||||||||||||||||
| ^PM Cassidy Enterprises, Inc. dba Junk King | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 6/19/2025 | 14.9 | 12.4 | 11.3 | — | % | ||||||||||||||||
| ^KRN Logistics, LLC and Newsome Trucking, Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 6/19/2025 | 543.5 | 455.7 | 438.7 | 0.17 | % | ||||||||||||||||
| ^Inverted Healthcare Staffing of Florida LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/18/2025 | 61.3 | 51.0 | 46.6 | 0.02 | % | ||||||||||||||||
| ^Flooring Liquidators Inc and Flooring Liquidators of Mt Kisco LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/17/2025 | 437.5 | 378.7 | 383.3 | 0.15 | % | ||||||||||||||||
| ^AM PM Properties, LLC and AM PM Willington, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/17/2040 | 87.1 | 83.4 | 88.1 | 0.03 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Nelson Sargsyan dba HDA Trucking | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 6/16/2025 | 130.5 | 108.6 | 99.2 | 0.04 | % | ||||||||||||||||
| ^Mirage Plastering Inc and Mpire LLC and Mpire II LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/12/2040 | 338.8 | 133.3 | 130.4 | 0.05 | % | ||||||||||||||||
| ^Bizzare Foods Inc dba Trooper Foods | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 6/12/2025 | 125.0 | 99.0 | 90.5 | 0.04 | % | ||||||||||||||||
| ^Anturio Marketing Inc dba Logic Consulting | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/12/2040 | 290.2 | 278.9 | 296.8 | 0.12 | % | ||||||||||||||||
| ^Eldredge Tavern LLC dba Gonyea's Tavern | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/8/2040 | 56.3 | 54.0 | 57.5 | 0.02 | % | ||||||||||||||||
| ^Nicor LLC dba Fibrenew Sacramento | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/5/2022 | 13.8 | 10.1 | 9.2 | — | % | ||||||||||||||||
| ^Chitalian Fratelli LLC dba Francesca Brick Oven Pizza and Pasta | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/5/2025 | 16.0 | 13.1 | 11.9 | — | % | ||||||||||||||||
| ^ViAr Visual Communications, Inc. dba Fastsigns 281701 | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 6/5/2025 | 62.0 | 51.6 | 48.0 | 0.02 | % | ||||||||||||||||
| ^Video Vault & Tanning LLC and Mosaic Salon LLC | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 6/4/2040 | 90.5 | 87.1 | 92.7 | 0.04 | % | ||||||||||||||||
| ^Medworxs LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/3/2025 | 125.0 | 104.0 | 95.7 | 0.04 | % | ||||||||||||||||
| ^XCESSIVE THROTTLE, INC dba Jake's Roadhouse | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/29/2025 | 8.2 | 6.8 | 6.2 | — | % | ||||||||||||||||
| ^God is Good LLC dba BurgerFi | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/27/2025 | 67.2 | 11.7 | 11.9 | — | % | ||||||||||||||||
| ^Villela CPA PL | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 5/27/2025 | 9.0 | 7.4 | 7.0 | — | % | ||||||||||||||||
| ^Pen Tex Inc dba The UPS Store | Administrative and Support Services | Term Loan | Prime plus 2.75% | 5/20/2025 | 22.0 | 18.2 | 16.6 | 0.01 | % | ||||||||||||||||
| ^Douglas Posey and Sally Watkinson dba Audrey's Farmhouse | Accommodation | Term Loan | Prime plus 2.75% | 5/20/2040 | 174.1 | 167.0 | 175.2 | 0.07 | % | ||||||||||||||||
| ^Capstone Pediatrics PLLC and Capstone Healthcare Consulting LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 5/15/2025 | 717.2 | 594.5 | 553.0 | 0.22 | % | ||||||||||||||||
| ^15 McArdle LLC and No Other Impressions Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 5/15/2040 | 257.1 | 246.6 | 250.3 | 0.10 | % | ||||||||||||||||
| ^Guard Dogs MFS LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/8/2025 | 65.0 | 53.6 | 49.3 | 0.02 | % | ||||||||||||||||
| ^George S Cochran DDS Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 5/7/2025 | 130.0 | 107.9 | 98.8 | 0.04 | % | ||||||||||||||||
| ^South Park Properties LLC and Midlothian Hardware LLC | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 5/6/2040 | 170.5 | 162.4 | 172.9 | 0.07 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Matthew Taylor and Landon Farm LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 5/4/2040 | 100.0 | 96.6 | 95.1 | 0.04 | % | ||||||||||||||||
| ^Cares Inc dba Dumpling Grounds Day Care Center | Social Assistance | Term Loan | Prime plus 2.75% | 5/1/2040 | 81.9 | 77.7 | 82.7 | 0.03 | % | ||||||||||||||||
| ^Orchid Enterprises Inc dba Assisting Hands of Sussex County | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 4/24/2025 | 15.0 | 12.3 | 11.2 | — | % | ||||||||||||||||
| ^Ragazza Restaurant Group, Inc. dba Bambolina | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/21/2025 | 22.5 | 18.2 | 17.2 | 0.01 | % | ||||||||||||||||
| ^Diamond Solutions LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 4/21/2025 | 22.5 | 17.6 | 16.0 | 0.01 | % | ||||||||||||||||
| ^Giacchino Maritime Consultants Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 4/17/2025 | 22.5 | 18.4 | 16.8 | 0.01 | % | ||||||||||||||||
| ^Sound Coaching Inc | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 4/14/2025 | 44.4 | 36.3 | 33.2 | 0.01 | % | ||||||||||||||||
| ^Faramarz Nikourazm dba Car Clinic Center | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/3/2040 | 73.8 | 70.4 | 72.9 | 0.03 | % | ||||||||||||||||
| ^Advance Case Parts RE Holdings LLC and Advance Case Parts Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/31/2040 | 758.3 | 707.0 | 751.3 | 0.29 | % | ||||||||||||||||
| ^T and B Boots Inc dba Takken's Shoes | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 3/31/2025 | 807.8 | 130.3 | 134.1 | 0.05 | % | ||||||||||||||||
| ^HAVANA CENTRAL NJ1, LLC dba Havana Central | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/31/2025 | 250.0 | 218.9 | 225.1 | 0.09 | % | ||||||||||||||||
| ^Mid-South Lumber Co. of Northwest Florida, Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 3/31/2040 | 428.7 | 409.8 | 434.7 | 0.17 | % | ||||||||||||||||
| ^Copper Beech Financial Group LLC | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 3/30/2025 | 125.0 | 101.4 | 102.4 | 0.04 | % | ||||||||||||||||
| ^Delta Aggregate LLC | Mining (except Oil and Gas) | Term Loan | Prime plus 2.75% | 3/30/2025 | 90.0 | 79.2 | 81.5 | 0.03 | % | ||||||||||||||||
| ^Sunset Marine Resort LLC and GoXpeditions LLC and Lavon Gomes and Trac | Accommodation | Term Loan | Prime plus 2.75% | 3/27/2040 | 301.8 | 288.4 | 312.6 | 0.12 | % | ||||||||||||||||
| ^Shorr Enterprises Inc dba New Design Furniture Manufacturers | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 3/27/2025 | 106.5 | 86.4 | 87.6 | 0.03 | % | ||||||||||||||||
| ^Foresite Realty Partners LLC and Foresite Real Estate Holdings LLC | Real Estate | Term Loan | Prime plus 2.75% | 3/27/2025 | 1,238.3 | 1,004.5 | 993.7 | 0.39 | % | ||||||||||||||||
| ^Shellhorn and Hill Inc dba Total Fleet Service | Nonstore Retailers | Term Loan | Prime plus 2.75% | 3/27/2040 | 1,040.2 | 990.4 | 1,050.6 | 0.41 | % | ||||||||||||||||
| ^Geo Los Angeles LLC dba Geo Film Group | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 3/26/2025 | 130.0 | 105.5 | 106.8 | 0.04 | % | ||||||||||||||||
| ^Joyce Outdoor Advertising NJ LLC and Joyce Outdoor Advertising LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/26/2040 | 54.0 | 51.6 | 55.8 | 0.02 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Zero-In Media Inc | Data Processing, Hosting, and Related Services | Term Loan | Prime plus 2.75% | 3/25/2025 | 22.5 | 18.3 | 18.1 | 0.01 | % | ||||||||||||||||
| ^Carpet Exchange of North Texas Inc and Clyde E. Cumbie Jr | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 3/25/2040 | 810.0 | 774.2 | 838.2 | 0.33 | % | ||||||||||||||||
| ^Loriet LLC | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 3/24/2025 | 12.0 | 9.7 | 9.6 | — | % | ||||||||||||||||
| ^Shelton Incorporated dba Mrs. Winners | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/20/2040 | 112.5 | 107.5 | 116.5 | 0.05 | % | ||||||||||||||||
| ^Jaymie Hazard dba Indigo Hair Studio and Day Spa | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/20/2040 | 42.9 | 41.1 | 44.0 | 0.02 | % | ||||||||||||||||
| ^R & R Security and Investigations Inc dba Pardners Lake Buchanan | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/19/2040 | 85.4 | 81.7 | 88.5 | 0.03 | % | ||||||||||||||||
| ^MMS Realty, LLC and Molecular MS Diagnostics LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/18/2040 | 160.7 | 153.6 | 164.3 | 0.06 | % | ||||||||||||||||
| ^Royal Crest Motors LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 3/16/2040 | 91.2 | 87.2 | 93.6 | 0.04 | % | ||||||||||||||||
| ^BND Sebastian Limited Liability Company and Sebastian Fitness | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/16/2040 | 172.5 | 164.9 | 177.7 | 0.07 | % | ||||||||||||||||
| ^Douglas Printy Motorsports, Inc. dba Blackburn Trike | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 3/9/2040 | 191.8 | 183.3 | 196.0 | 0.08 | % | ||||||||||||||||
| ^Luigi's on Main LLC and Luigi's Main Street Pizza Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/4/2025 | 11.3 | 9.1 | 9.4 | — | % | ||||||||||||||||
| ^Baystate Firearms and Training, LLC | Educational Services | Term Loan | Prime plus 2.75% | 2/27/2025 | 63.4 | 50.8 | 50.4 | 0.02 | % | ||||||||||||||||
| ^Kingseal LLC dba Desoto Health and Rehab Center | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 2/26/2040 | 1,250.0 | 1,192.7 | 1,292.8 | 0.51 | % | ||||||||||||||||
| ^Pace Motor Lines, Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 2/26/2025 | 66.2 | 53.1 | 54.7 | 0.02 | % | ||||||||||||||||
| ^Nelson Financial Services LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 2/24/2025 | 12.4 | 10.0 | 9.9 | — | % | ||||||||||||||||
| ^Kiddie Steps 4 You Inc. | Social Assistance | Term Loan | Prime plus 2.75% | 2/19/2040 | 61.7 | 59.0 | 63.0 | 0.02 | % | ||||||||||||||||
| ^Triangle Trash LLC dba Bin There Dump That | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 2/18/2025 | 74.4 | 59.7 | 60.2 | 0.02 | % | ||||||||||||||||
| ^Silva Realty Holdings, LLC and MF-Silva Enterprises, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/31/2018 | 171.5 | 163.8 | 162.1 | 0.06 | % | ||||||||||||||||
| ^740 Barry Street Realty LLC and Wild Edibles Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 2/10/2040 | 492.5 | 469.9 | 509.4 | 0.20 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Kostekos Inc dba New York Style Pizza | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/6/2040 | 66.2 | 63.3 | 67.9 | 0.03 | % | ||||||||||||||||
| ^DuCharme Realty LLC and DuCharme Enterprises LLC | Wood Product Manufacturing | Term Loan | Prime plus 2.75% | 2/2/2040 | 225.1 | 214.8 | 228.8 | 0.09 | % | ||||||||||||||||
| ^Dean 1021 LLC dba Pure Pita | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/29/2025 | 80.0 | 64.3 | 64.0 | 0.03 | % | ||||||||||||||||
| ^Limameno LLC dba Sal's Italian Ristorante | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/23/2025 | 83.3 | 66.3 | 66.1 | 0.03 | % | ||||||||||||||||
| ^Palmabak Inc dba Mami Nora's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/22/2025 | 21.5 | 13.3 | 13.7 | 0.01 | % | ||||||||||||||||
| ^Jung Design Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 1/20/2022 | 8.4 | 5.7 | 5.6 | — | % | ||||||||||||||||
| ^Grand Blanc Lanes, Inc. and H, H and H, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/31/2039 | 133.0 | 126.9 | 137.1 | 0.05 | % | ||||||||||||||||
| ^Bear Creek Entertainment, LLC dba The Woods at Bear Creek | Accommodation | Term Loan | Prime plus 2.75% | 12/30/2024 | 106.3 | 86.2 | 88.6 | 0.03 | % | ||||||||||||||||
| ^Evans and Paul LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 12/30/2024 | 223.7 | 176.7 | 180.8 | 0.07 | % | ||||||||||||||||
| ^FHJE Ventures LLC and Eisenreich II Inc dba Breakneck Tavern | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/30/2039 | 245.5 | 234.8 | 249.5 | 0.10 | % | ||||||||||||||||
| ^First Prevention and Dialysis Center, LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/30/2024 | 273.3 | 228.1 | 232.2 | 0.09 | % | ||||||||||||||||
| ^Bowlerama Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/24/2039 | 1,202.5 | 1,145.0 | 1,240.3 | 0.49 | % | ||||||||||||||||
| ^The Lodin Group LLC and Lodin Health Imaging Inc dba Highlands Breast | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/23/2039 | 530.3 | 504.1 | 534.8 | 0.21 | % | ||||||||||||||||
| ^401 JJS Corporation and G. Randazzo Corporation | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/23/2039 | 473.5 | 454.9 | 490.3 | 0.19 | % | ||||||||||||||||
| ^Thermoplastic Services Inc and Paragon Plastic Sheet, Inc | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 12/23/2039 | 500.0 | 475.4 | 515.0 | 0.20 | % | ||||||||||||||||
| ^Atlantis of Daytona LLC and Ocean Club Sportswear Inc | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 12/23/2039 | 240.0 | 197.2 | 213.6 | 0.08 | % | ||||||||||||||||
| ^Beale Street Blues Company-West Palm Beach, LLC dba Lafayette Music Hall | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 12/22/2024 | 187.5 | 148.1 | 148.3 | 0.06 | % | ||||||||||||||||
| ^MM and M Management Inc dba Pizza Artista | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/19/2025 | 46.3 | 37.6 | 37.4 | 0.01 | % | ||||||||||||||||
| ^The Jewelers Inc. dba The Jewelers of Las Vegas | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 12/19/2024 | 1,250.0 | 987.5 | 978.5 | 0.38 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^B.S. Ventures LLC dba Dink's Market | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/19/2039 | 53.8 | 51.1 | 55.4 | 0.02 | % | ||||||||||||||||
| ^B & W Towing, LLC and Boychucks Fuel LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/17/2039 | 164.5 | 156.7 | 167.2 | 0.07 | % | ||||||||||||||||
| ^All American Games, LLC and Sportslink - The Game, LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 12/10/2024 | 400.0 | 315.8 | 317.0 | 0.12 | % | ||||||||||||||||
| ^Kemmer LLC and Apples Tree Top Liquors LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/4/2039 | 138.4 | 131.6 | 139.9 | 0.05 | % | ||||||||||||||||
| ^The Red Pill Management, Inc. dba UFC Gym Matthews | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 11/26/2024 | 54.3 | 43.2 | 43.2 | 0.02 | % | ||||||||||||||||
| ^Teamnewman Enterprises LLC dba Newmans at 988 and John H. Newman | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/25/2039 | 148.7 | 141.7 | 151.5 | 0.06 | % | ||||||||||||||||
| ^DeRidder Chiropractic LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/25/2024 | 13.2 | 10.3 | 10.6 | — | % | ||||||||||||||||
| ^Modern Manhattan LLC | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 11/25/2024 | 220.0 | 172.1 | 170.8 | 0.07 | % | ||||||||||||||||
| ^Legacy Estate Planning Inc dba American Casket Enterprises | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/21/2024 | 42.0 | 32.9 | 32.5 | 0.01 | % | ||||||||||||||||
| ^J&D Resources, LLC dba Aqua Science | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/21/2024 | 767.9 | 594.9 | 591.1 | 0.23 | % | ||||||||||||||||
| ^DC Real LLC and DC Enterprises LTD dba Lakeview True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 11/20/2039 | 119.4 | 113.8 | 122.6 | 0.05 | % | ||||||||||||||||
| ^MLM Enterprises LLC and Demand Printing Solutions Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 11/18/2024 | 70.5 | 55.2 | 56.0 | 0.02 | % | ||||||||||||||||
| ^JEJE Realty LLC and La Familia Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/10/2039 | 205.8 | 172.3 | 185.0 | 0.07 | % | ||||||||||||||||
| ^Joey O's LLC and Jennifer Olszewski | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/7/2024 | 13.1 | 0.7 | 0.7 | — | % | ||||||||||||||||
| ^Heartland American Properties LLC and Skaggs RV Outlet LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 10/31/2039 | 479.0 | 453.8 | 488.4 | 0.19 | % | ||||||||||||||||
| ^Golden Transaction Corporation dba Bleh Sunoco | Gasoline Stations | Term Loan | Prime plus 2.75% | 10/30/2039 | 156.7 | 148.4 | 160.2 | 0.06 | % | ||||||||||||||||
| ^Seelan Inc dba Candleridge Market | Gasoline Stations | Term Loan | Prime plus 2.75% | 10/27/2039 | 90.5 | 85.7 | 91.7 | 0.04 | % | ||||||||||||||||
| ^Navdeep B Martins and Busy Bubbles LLC dba Wishy Washy | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 10/24/2039 | 89.0 | 84.5 | 89.8 | 0.04 | % | ||||||||||||||||
| ^One Hour Jewelry Repair Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/14/2024 | 20.6 | 15.9 | 15.7 | 0.01 | % | ||||||||||||||||
| ^DNT Storage and Properties LLC | Real Estate | Term Loan | Prime plus 2.75% | 10/10/2039 | 101.7 | 96.4 | 104.1 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Sound Manufacturing Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 10/10/2024 | 187.5 | 145.3 | 145.4 | 0.06 | % | ||||||||||||||||
| ^Return to Excellence, Inc. dba The Waynesville Inn Golf & Spa | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 10/10/2039 | 1,250.0 | 1,198.8 | 1,298.6 | 0.51 | % | ||||||||||||||||
| ^Smith Spinal Care Center P.C. and James C. Smith | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 10/8/2039 | 60.0 | 56.8 | 61.1 | 0.02 | % | ||||||||||||||||
| ^Doctors Express Management of Central Texas LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 10/8/2024 | 105.0 | 72.0 | 73.6 | 0.03 | % | ||||||||||||||||
| ^Michael Rey Jr. and Lynn J. Williams and GIG Petcare | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 10/3/2039 | 126.9 | 117.7 | 126.9 | 0.05 | % | ||||||||||||||||
| ^Sumad LLC dba BrightStar Care of Encinitas | Administrative and Support Services | Term Loan | Prime plus 2.75% | 10/2/2024 | 92.5 | 41.2 | 42.3 | 0.02 | % | ||||||||||||||||
| ^Roccos LLC and Sullo Pantalone Inc dba Rocco's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/30/2039 | 255.8 | 241.8 | 258.0 | 0.10 | % | ||||||||||||||||
| ^Keller Holdings LLC and David H Keller III and Carie C Keller | Scenic and Sightseeing Transportation | Term Loan | Prime plus 2.75% | 9/30/2039 | 100.0 | 94.6 | 102.3 | 0.04 | % | ||||||||||||||||
| ^Orange County Insurance Brokerage Inc dba Beaty Insurance Agency | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 9/29/2039 | 325.1 | 308.9 | 334.4 | 0.13 | % | ||||||||||||||||
| ^The Woods at Bear Creek LLC and Bear Creek Entertainment LLC | Accommodation | Term Loan | Prime plus 2.75% | 9/29/2039 | 513.3 | 489.6 | 530.0 | 0.21 | % | ||||||||||||||||
| ^Keys Phase One LLC dba The Grand Guesthouse | Accommodation | Term Loan | Prime plus 2.75% | 9/26/2039 | 736.2 | 696.2 | 749.8 | 0.29 | % | ||||||||||||||||
| ^Gordon E Rogers dba Stonehouse Motor Inn | Accommodation | Term Loan | Prime plus 2.75% | 9/26/2039 | 57.5 | 54.4 | 58.9 | 0.02 | % | ||||||||||||||||
| ^Auto Shine Carwash Inc and AKM R. Hossain and Jessica F. Masud | Gasoline Stations | Term Loan | Prime plus 2.75% | 9/26/2024 | 22.5 | 17.3 | 17.2 | 0.01 | % | ||||||||||||||||
| ^6 Price Avenue, LLC and Pauley Tree & Lawn Care, Inc | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/24/2039 | 452.5 | 432.6 | 457.1 | 0.18 | % | ||||||||||||||||
| ^North Columbia LLC and Loop Liquor and Convenience Store LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/24/2039 | 159.2 | 150.7 | 162.2 | 0.06 | % | ||||||||||||||||
| ^R A Johnson Inc dba Rick Johnson Auto and Tire | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/23/2039 | 301.2 | 284.9 | 308.4 | 0.12 | % | ||||||||||||||||
| ^Andrene's LLC dba Andrene's Caribbean Soul Food Carry Out | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/23/2024 | 37.7 | 25.6 | 25.3 | 0.01 | % | ||||||||||||||||
| ^Ryan Crick and Pamela J. Crick and Crick Enterprises Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/17/2039 | 145.5 | 137.8 | 149.2 | 0.06 | % | ||||||||||||||||
| ^Modern Leather Goods Repair Shop Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/17/2024 | 58.8 | 44.6 | 44.1 | 0.02 | % | ||||||||||||||||
| ^RDT Enterprises LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/15/2027 | 162.7 | 136.9 | 141.8 | 0.06 | % | ||||||||||||||||
| ^Tavern Properties LLC and Wildwood Tavern LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/15/2039 | 425.0 | 404.5 | 435.0 | 0.17 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Animal Intrusion Prevention Systems Holding Company, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/15/2024 | 272.5 | 211.9 | 212.5 | 0.08 | % | ||||||||||||||||
| ^KW Zion, LLC and Key West Gallery Inc | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 9/12/2039 | 1,250.0 | 1,182.1 | 1,272.7 | 0.50 | % | ||||||||||||||||
| ^Indy East Smiles Youth Dentistry LLC dba Prime Smile East | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/11/2024 | 630.2 | 484.0 | 478.5 | 0.19 | % | ||||||||||||||||
| ^B&P Diners LLC dba Engine House Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/10/2024 | 80.0 | 61.4 | 60.6 | 0.02 | % | ||||||||||||||||
| ^Feel The World Inc dba Xero Shoes and Invisible Shoes | Leather and Allied Product Manufacturing | Term Loan | Prime plus 2.75% | 9/5/2024 | 51.9 | 39.9 | 39.6 | 0.02 | % | ||||||||||||||||
| ^Delta Aggregate LLC | Mining (except Oil and Gas) | Term Loan | Prime plus 2.75% | 8/28/2039 | 911.2 | 859.0 | 929.9 | 0.36 | % | ||||||||||||||||
| ^Lamjam LLC (EPC) Goldsmith Lambros Inc | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 8/27/2024 | 133.8 | 102.7 | 105.5 | 0.04 | % | ||||||||||||||||
| ^Orange County Cleaning Inc | Administrative and Support Services | Term Loan | Prime plus 2.75% | 8/27/2024 | 41.2 | 24.3 | 24.0 | 0.01 | % | ||||||||||||||||
| ^Qycell Corporation | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 8/26/2024 | 121.0 | 92.0 | 92.7 | 0.04 | % | ||||||||||||||||
| ^Atlas Auto Body Inc dba Atlas Auto Sales | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/22/2039 | 51.6 | 48.7 | 52.0 | 0.02 | % | ||||||||||||||||
| ^Katie Senior Care LLC dba Home Instead Senior Care | Social Assistance | Term Loan | Prime plus 2.75% | 8/15/2024 | 124.3 | 94.5 | 93.3 | 0.04 | % | ||||||||||||||||
| ^Alpha Preparatory Academy LLC | Social Assistance | Term Loan | Prime plus 2.75% | 8/15/2039 | 145.2 | 137.6 | 149.0 | 0.06 | % | ||||||||||||||||
| ^S&P Holdings of Daytona LLC S&P Corporation of Daytona Beach | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 8/15/2039 | 433.5 | 388.3 | 420.3 | 0.16 | % | ||||||||||||||||
| ^Hamer Road Auto Salvage, LLC and Scott T. Cook and Nikki J. Cook | Motor Vehicle and Parts Dealers | Term Loan | 6% | 8/8/2039 | 188.4 | 177.0 | 191.6 | 0.07 | % | ||||||||||||||||
| ^Almost Home Property LLC and Almost Home Daycare LLC | Social Assistance | Term Loan | Prime plus 2.75% | 8/7/2039 | 715.8 | 677.8 | 731.8 | 0.29 | % | ||||||||||||||||
| ^AGV Enterprises LLC dba Jet's Pizza #42 | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/31/2024 | 54.8 | 41.3 | 41.0 | 0.02 | % | ||||||||||||||||
| ^iFood, Inc. dba Steak N Shake | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/31/2024 | 379.1 | 296.7 | 298.8 | 0.12 | % | ||||||||||||||||
| ^575 Columbus Avenue Holding Company, LLC and LA-ZE LLC dba EST EST EST | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/30/2039 | 22.5 | 20.6 | 22.3 | 0.01 | % | ||||||||||||||||
| ^Honeyspot Investors LLP and Pace Motor Lines Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 7/24/2039 | 150.0 | 141.3 | 152.9 | 0.06 | % | ||||||||||||||||
| ^Miss Cranston Diner II, LLC and Miss Cranston II Realty LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/17/2039 | 100.0 | 96.3 | 103.4 | 0.04 | % | ||||||||||||||||
| ^AMG Holding, LLC and Stetson Automotive, Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/30/2039 | 208.0 | 195.6 | 211.6 | 0.08 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Highway Striping Inc | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 6/30/2024 | 53.1 | 39.6 | 39.6 | 0.02 | % | ||||||||||||||||
| ^Lisle Lincoln II Limited Partnership dba Lisle Lanes LP | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/30/2024 | 100.0 | 74.5 | 76.5 | 0.03 | % | ||||||||||||||||
| ^iFood, Inc. dba Steak N Shake | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2039 | 629.8 | 594.0 | 628.4 | 0.25 | % | ||||||||||||||||
| ^Honeyspot Investors LLP and Pace Motor Lines Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 6/30/2039 | 875.3 | 824.3 | 891.5 | 0.35 | % | ||||||||||||||||
| ^FHJE Ventures LLC and Eisenreich II Inc. dba Breakneck Tavern | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/27/2039 | 321.8 | 302.7 | 324.9 | 0.13 | % | ||||||||||||||||
| ^Zinger Hardware and General Merchant Inc | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 6/26/2024 | 110.5 | 82.4 | 83.5 | 0.03 | % | ||||||||||||||||
| ^JPM Investments LLC and Carolina Family Foot Care P.A. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/26/2039 | 136.1 | 132.6 | 142.6 | 0.06 | % | ||||||||||||||||
| ^Nikobella Properties LLC and JPO Inc dba Village Car Wash | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/25/2039 | 476.3 | 449.3 | 482.8 | 0.19 | % | ||||||||||||||||
| ^Big Sky Plaza LLC and Strickland, Incorporated dba Livingston True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 6/20/2039 | 233.4 | 219.5 | 235.6 | 0.09 | % | ||||||||||||||||
| ^510 ROK Realty LLC dba ROK Health and Fitness and Robert N. D'urso | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/19/2024 | 332.0 | 256.2 | 262.9 | 0.10 | % | ||||||||||||||||
| ^Nirvi Enterprises LLC dba Howard Johnson / Knights Inn | Accommodation | Term Loan | Prime plus 2.75% | 6/17/2039 | 920.3 | 865.5 | 936.2 | 0.37 | % | ||||||||||||||||
| ^Hotels of North Georgia LLC dba Comfort Inn and Suites | Accommodation | Term Loan | Prime plus 2.75% | 6/17/2039 | 837.5 | 787.6 | 852.0 | 0.33 | % | ||||||||||||||||
| ^Global Educational Delivery Services LLC | Educational Services | Term Loan | Prime plus 2.75% | 6/16/2024 | 60.0 | 45.3 | 46.5 | 0.02 | % | ||||||||||||||||
| ^Rainbow Dry Cleaners | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/13/2024 | 122.5 | 91.4 | 91.5 | 0.04 | % | ||||||||||||||||
| ^NVR Corporation dba Discount Food Mart | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/11/2039 | 68.3 | 62.1 | 67.2 | 0.03 | % | ||||||||||||||||
| ^Sico & Walsh Insurance Agency Inc and The AMS Trust | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 6/6/2039 | 250.0 | 88.4 | 95.6 | 0.04 | % | ||||||||||||||||
| ^Sujata Inc dba Stop N Save Food Mart and Dhruvesh Patel | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/3/2024 | 22.5 | 16.8 | 16.7 | 0.01 | % | ||||||||||||||||
| ^Long Island Barber + Beauty LLC | Educational Services | Term Loan | Prime plus 2.75% | 6/2/2039 | 55.5 | 52.2 | 55.9 | 0.02 | % | ||||||||||||||||
| ^CJR LLC and PowerWash Plus, Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/30/2024 | 53.0 | 39.1 | 39.9 | 0.02 | % | ||||||||||||||||
| ^Pocono Coated Products, LLC | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 5/30/2024 | 22.5 | 16.6 | 17.0 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Wilton Dental Care P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 5/29/2024 | 128.1 | 96.5 | 95.5 | 0.04 | % | ||||||||||||||||
| ^EGM Food Services Inc dba Gold Star Chili | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/29/2024 | 19.2 | 14.2 | 14.2 | 0.01 | % | ||||||||||||||||
| ^R. A. Johnson, Inc. dba Rick Johnson Auto & Tire | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 5/29/2039 | 943.8 | 522.0 | 564.6 | 0.22 | % | ||||||||||||||||
| ^Jonesboro Health Food Center LLC | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 5/27/2024 | 60.0 | 44.3 | 43.8 | 0.02 | % | ||||||||||||||||
| ^Bay State Funeral Services, LLC and Riley Funeral Home Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 5/21/2039 | 134.9 | 127.0 | 137.4 | 0.05 | % | ||||||||||||||||
| ^Hae M. and Jin S. Park dba Buford Car Wash | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/15/2039 | 166.5 | 155.6 | 166.0 | 0.06 | % | ||||||||||||||||
| ^Moochie's LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/13/2024 | 100.5 | 75.1 | 74.6 | 0.03 | % | ||||||||||||||||
| ^The River Beas LLC and Punam Singh | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/8/2039 | 90.3 | 85.3 | 91.5 | 0.04 | % | ||||||||||||||||
| ^AS Boyals LLC dba Towne Liquors | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 4/29/2039 | 117.5 | 102.0 | 110.4 | 0.04 | % | ||||||||||||||||
| ^Complete Body & Paint, Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/23/2039 | 20.8 | 19.5 | 21.1 | 0.01 | % | ||||||||||||||||
| ^Gerami Realty, LC Sherrill Universal City Corral, LP | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/23/2027 | 78.7 | 64.0 | 66.5 | 0.03 | % | ||||||||||||||||
| ^Island Wide Realty LLC and Long Island Partners, Inc. | Real Estate | Term Loan | Prime plus 2.75% | 4/22/2039 | 103.8 | 97.3 | 105.3 | 0.04 | % | ||||||||||||||||
| ^Wilshire Media Systems Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 4/17/2024 | 186.2 | 136.2 | 135.5 | 0.05 | % | ||||||||||||||||
| ^1899 Tavern & Tap LLC and Ale House Tavern & Tap LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/9/2039 | 137.5 | 127.9 | 137.7 | 0.05 | % | ||||||||||||||||
| ^Little People's Village II LLC and Iliopoulos Realty LLC | Social Assistance | Term Loan | Prime plus 2.75% | 3/31/2039 | 92.1 | 86.7 | 93.9 | 0.04 | % | ||||||||||||||||
| ^Dantanna's Tavern LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2024 | 164.3 | 121.2 | 124.0 | 0.05 | % | ||||||||||||||||
| ^Hodges Properties LLC and Echelon Enterprises Inc dba Treads Bicycle | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 3/31/2039 | 449.0 | 419.9 | 456.5 | 0.18 | % | ||||||||||||||||
| ^RDT Enterprises, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/31/2028 | 141.2 | 119.0 | 125.0 | 0.05 | % | ||||||||||||||||
| ^Little People's Village II LLC and Iliopoulos Realty LLC | Social Assistance | Term Loan | Prime plus 2.75% | 3/31/2039 | 101.5 | 95.6 | 103.5 | 0.04 | % | ||||||||||||||||
| ^Eagle Aggregate Transportation, LLC and Eagle Pneumatic Transport LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 3/31/2024 | 750.0 | 542.5 | 556.8 | 0.22 | % | ||||||||||||||||
| ^Kemmer, LLC and Pitts Package Store, Inc. | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/31/2039 | 117.5 | 110.1 | 118.8 | 0.05 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Lake Area Autosound LLC and Ryan H. Whittington | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 7/28/2039 | 125.0 | 118.6 | 128.9 | 0.05 | % | ||||||||||||||||
| ^Wilban LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/28/2039 | 427.5 | 402.7 | 437.5 | 0.17 | % | ||||||||||||||||
| ^Hascher Gabelstapler Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/26/2024 | 143.2 | 107.7 | 110.6 | 0.04 | % | ||||||||||||||||
| ^Knowledge First Inc dba Magic Years of Learning and Kimberly Knox | Social Assistance | Term Loan | Prime plus 2.75% | 3/21/2039 | 145.0 | 135.8 | 147.2 | 0.06 | % | ||||||||||||||||
| ^636 South Center Holdings, LLC and New Mansfield Brass and Aluminum Co | Primary Metal Manufacturing | Term Loan | Prime plus 2.75% | 3/20/2039 | 497.5 | 74.9 | 81.5 | 0.03 | % | ||||||||||||||||
| ^Cormac Enterprises and Wyoming Valley Beverage Incorporated | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/20/2039 | 110.8 | 103.7 | 113.0 | 0.04 | % | ||||||||||||||||
| ^Kinisi, Inc. dba The River North UPS Store | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/18/2024 | 41.3 | 21.5 | 22.1 | 0.01 | % | ||||||||||||||||
| ^SE Properties 39 Old Route 146, LLC SmartEarly Clifton Park LLC | Social Assistance | Term Loan | Prime plus 2.75% | 3/14/2039 | 408.0 | 382.7 | 416.7 | 0.16 | % | ||||||||||||||||
| ^Tortilla King Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 3/14/2039 | 216.9 | 203.7 | 220.5 | 0.09 | % | ||||||||||||||||
| ^Tortilla King, Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 3/14/2029 | 1,033.1 | 888.4 | 929.4 | 0.36 | % | ||||||||||||||||
| ^Bowl Mor, LLC dba Bowl Mor Lanes / Spare Lounge, Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/13/2039 | 223.5 | 209.0 | 227.6 | 0.09 | % | ||||||||||||||||
| ^Avayaan2 LLC dba Island Cove | Gasoline Stations | Term Loan | Prime plus 2.75% | 3/7/2039 | 157.5 | 147.3 | 160.0 | 0.06 | % | ||||||||||||||||
| ^Onofrio's Fresh Cut Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 3/6/2024 | 75.0 | 54.2 | 55.8 | 0.02 | % | ||||||||||||||||
| ^R & R Boyal LLC dba Cap N Cat Clam Bar and Little Ease Tavern | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 2/28/2039 | 417.5 | 389.8 | 423.1 | 0.17 | % | ||||||||||||||||
| ^Summit Beverage Group LLC | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 2/28/2024 | 350.6 | 251.0 | 257.5 | 0.10 | % | ||||||||||||||||
| ^Faith Memorial Chapel LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/28/2039 | 214.2 | 200.3 | 217.1 | 0.08 | % | ||||||||||||||||
| ^952 Boston Post Road Realty, LLC and HNA LLC dba Styles International | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/28/2039 | 211.0 | 197.0 | 213.6 | 0.08 | % | ||||||||||||||||
| ^Choe Trade Group Inc dba Rapid Printers of Monterey | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 2/28/2024 | 159.3 | 114.0 | 117.5 | 0.05 | % | ||||||||||||||||
| ^96 Mill Street LLC, Central Pizza LLC and Jason Bikakis George Bikaki | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/12/2039 | 141.2 | 132.4 | 144.2 | 0.06 | % | ||||||||||||||||
| ^JWB Industries, Inc. dba Carteret Die Casting | Primary Metal Manufacturing | Term Loan | Prime plus 2.75% | 2/11/2024 | 280.0 | 200.4 | 204.4 | 0.08 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Awesome Pets II Inc dba Mellisa's Pet Depot | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 2/7/2024 | 83.2 | 60.3 | 61.5 | 0.02 | % | ||||||||||||||||
| ^986 Dixwell Avenue Holding Company, LLC and Mughali Foods, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/7/2039 | 99.1 | 92.9 | 100.9 | 0.04 | % | ||||||||||||||||
| ^Sarah Sibadan dba Sibadan Agency | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 1/27/2039 | 129.4 | 120.5 | 131.1 | 0.05 | % | ||||||||||||||||
| ^JDR Industries Inc dba CST-The Composites Store, JetCat USA | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 1/21/2024 | 140.3 | 99.3 | 101.6 | 0.04 | % | ||||||||||||||||
| ^Icore Enterprises Inc dba Air Flow Filters Inc | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 1/15/2024 | 21.8 | 15.4 | 15.9 | 0.01 | % | ||||||||||||||||
| ^Carl R. Bieber, Inc. dba Bieber Tourways/Bieber Transportation/Bieber | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/30/2027 | 712.5 | 587.9 | 614.6 | 0.24 | % | ||||||||||||||||
| ^Nutmeg North Associates LLC; Steeltech Building Products Inc | Construction of Buildings | Term Loan | Prime plus 2.75% | 12/31/2038 | 897.8 | 853.3 | 924.3 | 0.36 | % | ||||||||||||||||
| ^Shane M. Howell and Buck Hardware and Garden Center, LLC | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 12/27/2038 | 322.5 | 300.4 | 325.2 | 0.13 | % | ||||||||||||||||
| ^CLU Amboy, LLC and Amboy Group, LLC dba Tommy Moloney's | Food Manufacturing | Term Loan | Prime plus 2.75% | 12/27/2023 | 656.2 | 481.1 | 495.0 | 0.19 | % | ||||||||||||||||
| ^KK International Trading Corporation | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/23/2028 | 190.0 | 158.1 | 165.7 | 0.06 | % | ||||||||||||||||
| ^Kurtis Sniezek dba Wolfe's Foreign Auto | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/20/2038 | 88.9 | 82.6 | 89.9 | 0.04 | % | ||||||||||||||||
| ^Mosley Auto Group LLC dba America's Automotive | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/20/2038 | 221.5 | 206.0 | 223.9 | 0.09 | % | ||||||||||||||||
| ^PLES Investements, LLC and John Redder, Pappy Sand & Gravel, Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/19/2038 | 555.2 | 516.3 | 559.6 | 0.22 | % | ||||||||||||||||
| ^Lefont Theaters Inc. | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 12/19/2023 | 14.4 | 10.1 | 10.3 | — | % | ||||||||||||||||
| ^TAK Properties LLC and Kinderland Inc | Social Assistance | Term Loan | Prime plus 2.75% | 12/18/2038 | 405.0 | 377.1 | 409.0 | 0.16 | % | ||||||||||||||||
| ^TOL LLC dba Wild Birds Unlimited | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 12/13/2023 | 18.0 | 13.0 | 13.3 | 0.01 | % | ||||||||||||||||
| ^920 CHR Realty LLC and V. Garofalo Carting Inc | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 12/10/2038 | 418.1 | 388.8 | 423.0 | 0.17 | % | ||||||||||||||||
| ^DKB Transport Corp | Truck Transportation | Term Loan | Prime plus 2.75% | 12/5/2038 | 138.8 | 129.0 | 140.4 | 0.05 | % | ||||||||||||||||
| ^Firm Foundations Inc David S Gaitan Jr and Christopher K Daigle | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/3/2038 | 104.2 | 96.9 | 104.7 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Spectrum Development LLC and Solvit Inc & Solvit North, Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/2/2023 | 387.3 | 276.2 | 282.5 | 0.11 | % | ||||||||||||||||
| ^BVIP Limousine Service LTD | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 11/27/2038 | 76.5 | 71.0 | 77.1 | 0.03 | % | ||||||||||||||||
| ^Eco-Green Reprocessing LLC and Denali Medical Concepts, LLC | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 11/27/2023 | 67.2 | 46.6 | 47.4 | 0.02 | % | ||||||||||||||||
| ^Wallace Holdings LLC and GFA International Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.5% | 11/25/2023 | 125.0 | 86.3 | 87.2 | 0.03 | % | ||||||||||||||||
| ^AcuCall LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 11/21/2023 | 15.8 | 10.9 | 11.0 | — | % | ||||||||||||||||
| ^Kids in Motion of Springfield LLC dba The Little Gym of Springfield IL | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/18/2023 | 45.0 | 31.8 | 32.4 | 0.01 | % | ||||||||||||||||
| ^Yousef Khatib dba Y&M Enterprises | Wholesale Electronic Markets and Agents and Brokers | Term Loan | Prime plus 2.75% | 11/15/2023 | 75.0 | 52.0 | 52.9 | 0.02 | % | ||||||||||||||||
| ^Howell Gun Works LLC | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 11/14/2023 | 8.3 | 4.6 | 4.7 | — | % | ||||||||||||||||
| ^Polpo Realty, LLC and Polpo Restaurant, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/6/2038 | 62.5 | 57.8 | 62.9 | 0.02 | % | ||||||||||||||||
| ^Twinsburg Hospitality Group LLC dba Comfort Suites | Accommodation | Term Loan | Prime plus 2.75% | 10/31/2038 | 945.0 | 878.8 | 952.4 | 0.37 | % | ||||||||||||||||
| ^Mid-Land Sheet Metal Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 10/31/2038 | 137.5 | 127.6 | 138.6 | 0.05 | % | ||||||||||||||||
| ^Master CNC Inc & Master Properties LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 10/31/2038 | 596.6 | 552.6 | 597.6 | 0.23 | % | ||||||||||||||||
| ^Janice B. McShan and The Metropolitan Day School, LLC | Social Assistance | Term Loan | Prime plus 2.75% | 10/31/2023 | 42.7 | 30.1 | 31.0 | 0.01 | % | ||||||||||||||||
| ^1 North Restaurant Corp dba 1 North Steakhouse | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 10/31/2038 | 212.5 | 196.8 | 213.9 | 0.08 | % | ||||||||||||||||
| ^New Image Building Services Inc. dba New Image Repair Services | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/29/2023 | 331.2 | 227.0 | 231.5 | 0.09 | % | ||||||||||||||||
| ^Greenbrier Technical Services, Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/24/2023 | 240.1 | 150.0 | 154.3 | 0.06 | % | ||||||||||||||||
| ^Clairvoyant Realty Corp. and Napoli Marble & Granite Design, Ltd | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 10/24/2038 | 246.3 | 228.1 | 247.0 | 0.10 | % | ||||||||||||||||
| ^Kelly Auto Care LLC dba Shoreline Quick Lube and Car Wash | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/18/2023 | 87.5 | 60.0 | 61.2 | 0.02 | % | ||||||||||||||||
| ^First Steps Real Estate Company, LLC and First Steps Preschool | Social Assistance | Term Loan | Prime plus 2.75% | 9/30/2038 | 97.6 | 90.2 | 97.5 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Lenoir Business Partners LLC (EPC) LP Industries, Inc dba Childforms | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2038 | 322.7 | 273.2 | 296.6 | 0.12 | % | ||||||||||||||||
| ^Top Properties LLC and LP Industries, Inc dba Childforms | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2038 | 120.0 | 111.4 | 121.1 | 0.05 | % | ||||||||||||||||
| ^Onofrios Enterprises LLC and Onofrios Fresh Cut, Inc | Food Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2038 | 312.5 | 289.9 | 314.6 | 0.12 | % | ||||||||||||||||
| ^Discount Wheel and Tire | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 9/30/2038 | 223.8 | 206.7 | 223.9 | 0.09 | % | ||||||||||||||||
| ^Cencon Properties LLC and Central Connecticut Warehousing Company, Inc | Warehousing and Storage | Term Loan | Prime plus 2.75% | 9/30/2038 | 344.5 | 318.7 | 346.5 | 0.14 | % | ||||||||||||||||
| ^Gabrielle Realty, LLC | Gasoline Stations | Term Loan | Prime plus 2.75% | 9/27/2038 | 757.6 | 699.8 | 757.9 | 0.30 | % | ||||||||||||||||
| ^Mitchellville Family Dentistry, Dr. Octavia Simkins-Wiseman DDS PC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/27/2038 | 335.1 | 309.5 | 335.6 | 0.13 | % | ||||||||||||||||
| ^Anthony C Dinoto and Susan S P Dinoto and Anthony C Dinoto Funeral Home | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/26/2038 | 100.0 | 92.4 | 100.4 | 0.04 | % | ||||||||||||||||
| ^Eastside Soccer Dome, Inc . | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/26/2038 | 463.7 | 428.3 | 465.7 | 0.18 | % | ||||||||||||||||
| ^HJ & Edward Enterprises, LLC dba Sky Zone | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/26/2023 | 262.5 | 183.7 | 188.3 | 0.07 | % | ||||||||||||||||
| ^Southeast Chicago Soccer, Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/26/2038 | 51.3 | 47.3 | 51.5 | 0.02 | % | ||||||||||||||||
| ^Kiddie Steps 4 You Inc. | Social Assistance | Term Loan | Prime plus 2.75% | 9/25/2038 | 89.2 | 83.5 | 90.3 | 0.04 | % | ||||||||||||||||
| ^Diamond Memorials Incorporated | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/25/2023 | 14.2 | 8.5 | 8.6 | — | % | ||||||||||||||||
| ^Serious-Fun in Alpharetta, LLC dba The Little Gym of Alpharetta | Educational Services | Term Loan | Prime plus 2.75% | 9/20/2023 | 46.2 | 31.5 | 32.1 | 0.01 | % | ||||||||||||||||
| ^Faith Memorial Chapel LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/20/2038 | 268.4 | 248.3 | 269.2 | 0.11 | % | ||||||||||||||||
| ^Westville Seafood LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/19/2038 | 112.3 | 103.7 | 112.4 | 0.04 | % | ||||||||||||||||
| ^Maynard Enterprises Inc dba Fastsigns of Texarkana | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 9/18/2023 | 16.0 | 11.0 | 11.2 | — | % | ||||||||||||||||
| ^Grafio Inc dba Omega Learning Center-Acworth | Educational Services | Term Loan | Prime plus 2.75% | 9/13/2023 | 156.2 | 112.4 | 114.5 | 0.04 | % | ||||||||||||||||
| ^Sound Manufacturing Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/12/2028 | 54.8 | 44.9 | 46.8 | 0.02 | % | ||||||||||||||||
| ^The Berlerro Group, LLC dba Sky Zone | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/12/2023 | 421.3 | 295.0 | 300.3 | 0.12 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Prospect Kids Academy Inc | Educational Services | Term Loan | Prime plus 2.75% | 9/11/2038 | 124.3 | 114.8 | 124.6 | 0.05 | % | ||||||||||||||||
| ^Alma J. and William R. Walton (EPC) and Almas Child Day Care Center | Social Assistance | Term Loan | Prime plus 2.75% | 9/11/2038 | 39.5 | 36.5 | 39.7 | 0.02 | % | ||||||||||||||||
| ^B for Brunette dba Blo | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/10/2023 | 53.4 | 36.6 | 37.2 | 0.01 | % | ||||||||||||||||
| ^Schmaltz Holdings, LLC and Schmaltz Operations, LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/4/2038 | 224.2 | 205.8 | 223.0 | 0.09 | % | ||||||||||||||||
| ^Excel RP Inc | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 8/30/2023 | 130.2 | 87.3 | 89.7 | 0.04 | % | ||||||||||||||||
| ^IlOKA Inc dba Microtech Tel and NewCloud Networks | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/30/2023 | 687.5 | 460.7 | 470.0 | 0.18 | % | ||||||||||||||||
| ^ACI Northwest Inc. | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 8/30/2023 | 906.3 | 410.9 | 422.2 | 0.17 | % | ||||||||||||||||
| ^Gulfport Academy Child Care and Learning Center, Inc. and Jennifer Sis | Social Assistance | Term Loan | Prime plus 2.75% | 8/30/2023 | 43.3 | 29.0 | 29.8 | 0.01 | % | ||||||||||||||||
| ^Ramard Inc and Advanced Health Sciences Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 8/28/2023 | 187.5 | 125.7 | 127.4 | 0.05 | % | ||||||||||||||||
| ^RM Hawkins LLC dba Pure Water Tech West and Robert M Hawkins | Nonstore Retailers | Term Loan | Prime plus 2.75% | 8/26/2023 | 85.8 | 54.3 | 55.8 | 0.02 | % | ||||||||||||||||
| ^JSIL LLC dba Blackstones Hairdressing | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 8/16/2023 | 19.5 | 12.9 | 13.1 | 0.01 | % | ||||||||||||||||
| ^Island Nautical Enterprises, Inc. and Ingwall Holdings, LLC | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 8/14/2038 | 445.0 | 320.9 | 347.1 | 0.14 | % | ||||||||||||||||
| ^Caribbean Concepts, Inc. dba Quick Bleach | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 8/12/2023 | 22.5 | 15.1 | 15.4 | 0.01 | % | ||||||||||||||||
| ^Majestic Contracting Services, Inc. dba Majestic Electric and Majestic | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/26/2038 | 190.0 | 174.8 | 189.3 | 0.07 | % | ||||||||||||||||
| ^Daniel W and Erin H Gordon and Silver Lining Stables CT, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/24/2023 | 11.2 | 7.7 | 7.9 | — | % | ||||||||||||||||
| ^Angkor Restaurant Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/19/2038 | 93.0 | 85.7 | 93.1 | 0.04 | % | ||||||||||||||||
| ^Harbor Ventilation Inc and Estes Investment, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/19/2038 | 92.1 | 3.8 | 4.1 | — | % | ||||||||||||||||
| ^Tri County Heating and Cooling Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/19/2023 | 87.8 | 58.1 | 59.7 | 0.02 | % | ||||||||||||||||
| ^Morning Star Trucking LLC and Morning Star Equipment and Leasing LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 7/17/2023 | 53.7 | 35.6 | 36.1 | 0.01 | % | ||||||||||||||||
| ^Maxiflex LLC | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 6/28/2023 | 153.5 | 100.0 | 102.7 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^GIA Realty LLC and VRAJ GIA LLC dba Lakeview Laundromat | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/28/2038 | 97.5 | 89.5 | 97.2 | 0.04 | % | ||||||||||||||||
| ^JRA Holdings LLC (EPC) Jasper County Cleaners Inc dba Superior Cleaner | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/28/2038 | 121.0 | 109.6 | 119.1 | 0.05 | % | ||||||||||||||||
| ^2161 Highway 6 Trail, LLC and R. H. Hummer JR., Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 6/19/2026 | 1,250.0 | 722.4 | 751.3 | 0.29 | % | ||||||||||||||||
| ^Blakeslee Arpaia Chapman, Inc. dba Blakeslee Industrial Services | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 6/18/2028 | 875.0 | 705.0 | 739.2 | 0.29 | % | ||||||||||||||||
| ^KDP LLC and KDP Investment Advisors, Inc and KDP Asset Management, Inc | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 6/14/2023 | 343.8 | 225.0 | 228.4 | 0.09 | % | ||||||||||||||||
| ^Elite Structures Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 6/12/2038 | 932.8 | 835.3 | 907.4 | 0.35 | % | ||||||||||||||||
| ^Willowbrook Properties LLC Grove Gardens Landscaping Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/5/2038 | 186.3 | 171.1 | 185.5 | 0.07 | % | ||||||||||||||||
| ^Absolute Desire LLC and Mark H. Szierer Sophisticated Smile | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/5/2038 | 188.3 | 173.0 | 186.9 | 0.07 | % | ||||||||||||||||
| ^RXSB, Inc dba Medicine Shoppe | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 5/30/2023 | 186.3 | 120.5 | 122.1 | 0.05 | % | ||||||||||||||||
| ^Gregory P Jellenek OD and Associates PC dba Gregory P Jellenek OD | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 5/28/2023 | 63.5 | 41.6 | 42.5 | 0.02 | % | ||||||||||||||||
| ^Ryan D. Thornton and Thornton & Associates LLC | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 5/24/2023 | 68.7 | 32.2 | 32.6 | 0.01 | % | ||||||||||||||||
| ^PowerWash Plus, Inc. and CJR, LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/30/2038 | 550.0 | 503.8 | 545.2 | 0.21 | % | ||||||||||||||||
| ^Peanut Butter & Co., Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 4/30/2023 | 100.0 | 63.5 | 64.4 | 0.03 | % | ||||||||||||||||
| ^Brothers International Desserts | Food Manufacturing | Term Loan | Prime plus 2.75% | 4/26/2023 | 230.0 | 146.9 | 150.2 | 0.06 | % | ||||||||||||||||
| ^Kidrose, LLC dba Kidville Riverdale | Educational Services | Term Loan | Prime plus 2.75% | 4/22/2023 | 78.7 | 50.9 | 51.9 | 0.02 | % | ||||||||||||||||
| ^1258 Hartford TPKE, LLC and Phelps and Sons, Inc | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 3/29/2038 | 124.6 | 113.7 | 123.8 | 0.05 | % | ||||||||||||||||
| ^Capital Scrap Metal, LLC and Powerline Investment, LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 3/29/2038 | 500.0 | 434.7 | 474.2 | 0.19 | % | ||||||||||||||||
| ^MRM Supermarkets Inc dba Constantins Breads; Dallas Gourmet Breads | Food Manufacturing | Term Loan | Prime plus 2.75% | 3/29/2038 | 336.0 | 307.2 | 334.1 | 0.13 | % | ||||||||||||||||
| ^Neyra Industries, Inc. and Edward Neyra | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 3/27/2023 | 217.5 | 137.2 | 140.9 | 0.06 | % | ||||||||||||||||
| ^A & M Commerce, Inc. dba Cranberry Sunoco | Gasoline Stations | Term Loan | Prime plus 2.75% | 3/27/2038 | 330.3 | 301.3 | 328.4 | 0.13 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Xela Pack, Inc. and Aliseo and Catherine Gentile | Paper Manufacturing | Term Loan | Prime plus 2.75% | 3/27/2028 | 271.8 | 215.4 | 226.5 | 0.09 | % | ||||||||||||||||
| ^American Diagnostic Imaging, Inc. dba St. Joseph Imaging Center | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/25/2038 | 537.4 | 490.6 | 534.2 | 0.21 | % | ||||||||||||||||
| ^Michael A.and HeatherR. Welsch dba Art & FrameEtc. | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 3/22/2038 | 67.5 | 61.6 | 67.1 | 0.03 | % | ||||||||||||||||
| ^M & H Pine Straw Inc and Harris L. Maloy | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 3/21/2023 | 288.7 | 198.8 | 204.1 | 0.08 | % | ||||||||||||||||
| ^Truth Technologies Inc dba Truth Technologies Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/21/2023 | 79.5 | 50.1 | 51.3 | 0.02 | % | ||||||||||||||||
| ^J. Kinderman & Sons Inc., dba BriteStar Inc. | Electrical Equipment, Appliance, and Component Manufacturing | Term Loan | Prime plus 2.75% | 3/20/2023 | 181.2 | 116.7 | 119.9 | 0.05 | % | ||||||||||||||||
| ^Stellar Environmental LLC | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 3/18/2023 | 56.3 | 35.5 | 36.5 | 0.01 | % | ||||||||||||||||
| ^Sound Manufacturing, Inc. and Monster Power Equipment Inc. | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 3/15/2023 | 523.0 | 328.5 | 336.9 | 0.13 | % | ||||||||||||||||
| ^Golden Gate Lodging LLC | Accommodation | Term Loan | Prime plus 2.75% | 3/12/2038 | 115.0 | 105.0 | 114.4 | 0.04 | % | ||||||||||||||||
| ^Bakhtar Group LLC dba Malmaison | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2023 | 103.8 | 65.2 | 66.6 | 0.03 | % | ||||||||||||||||
| ^River Club Golf Course Inc dba The River Club | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/28/2038 | 475.2 | 432.8 | 471.5 | 0.18 | % | ||||||||||||||||
| ^Osceola River Mill, LLC and Ironman Machine, Inc. | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 2/20/2038 | 86.2 | 78.6 | 85.6 | 0.03 | % | ||||||||||||||||
| ^Java Warung, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/19/2038 | 51.0 | 46.5 | 50.7 | 0.02 | % | ||||||||||||||||
| ^Nancy & Karl Schmidt(EPC) Moments to Remember USA, LLC | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 2/15/2038 | 106.2 | 96.8 | 105.5 | 0.04 | % | ||||||||||||||||
| ^Outcome Driven Innovation, Inc. dba ODI | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 2/12/2023 | 84.9 | 52.2 | 53.3 | 0.02 | % | ||||||||||||||||
| ^Knits R Us, Inc. dba NYC Sports / Mingle | Textile Mills | Term Loan | Prime plus 2.75% | 2/11/2038 | 125.0 | 114.0 | 124.4 | 0.05 | % | ||||||||||||||||
| ^North Country Transport, LLC | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 2/6/2023 | 15.0 | 9.3 | 9.6 | — | % | ||||||||||||||||
| ^MJD Investments, LLC dba The Community Day School | Social Assistance | Term Loan | Prime plus 2.75% | 1/31/2038 | 258.2 | 234.8 | 255.7 | 0.10 | % | ||||||||||||||||
| ^Sherill Universal City dba Golden Corral | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/28/2038 | 440.5 | 402.0 | 437.8 | 0.17 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Macho LLC Madelaine Chocolate Novelties Inc | Food Manufacturing | Term Loan | Prime plus 2.75% | 12/31/2037 | 500.0 | 455.9 | 497.0 | 0.19 | % | ||||||||||||||||
| ^Elegant Fireplace Mantels, Inc. dba Elegant Fireplace Mantels | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/31/2022 | 97.5 | 59.2 | 60.5 | 0.02 | % | ||||||||||||||||
| ^Babie Bunnie Enterprises Inc dba Triangle Mothercare | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/28/2027 | 46.3 | 32.8 | 34.2 | 0.01 | % | ||||||||||||||||
| ^John Duffy Fuel Co., Inc. | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/28/2022 | 513.8 | 312.2 | 320.4 | 0.13 | % | ||||||||||||||||
| ^Polpo Realty LLC & Polpo Restaurant LLC dba Polpo Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/27/2037 | 517.5 | 470.2 | 512.6 | 0.20 | % | ||||||||||||||||
| ^Martin L Hopp, MD PHD A Medical Cor dba Tower ENT | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/21/2022 | 66.3 | 40.0 | 40.9 | 0.02 | % | ||||||||||||||||
| ^Ezzo Properties, LLC and Great Lakes Cleaning, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/20/2027 | 389.6 | 303.6 | 317.4 | 0.12 | % | ||||||||||||||||
| ^United Woodworking, Inc | Wood Product Manufacturing | Term Loan | 6% | 12/20/2022 | 17.2 | 11.1 | 11.4 | — | % | ||||||||||||||||
| ^Pioneer Window Holdings, Inc and Subsidiaries dba Pioneer Windows | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 12/20/2022 | 225.0 | 136.1 | 139.4 | 0.05 | % | ||||||||||||||||
| ^Cheryle A Baptiste and Cheryle Baptiste DDS PLLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/30/2037 | 286.5 | 262.0 | 285.4 | 0.11 | % | ||||||||||||||||
| ^Daniel Gordon and Erin Gordon and Silver Lining Stables CT, LLC | Support Activities for Agriculture and Forestry | Term Loan | Prime plus 2.75% | 11/28/2037 | 223.8 | 204.2 | 222.6 | 0.09 | % | ||||||||||||||||
| ^D&L Rescources, Inc. dba The UPS Store | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 11/27/2022 | 9.8 | 5.8 | 6.0 | — | % | ||||||||||||||||
| ^Richmond Hill Mini Market, LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 11/27/2037 | 185.3 | 167.8 | 182.7 | 0.07 | % | ||||||||||||||||
| ^DRV Enterprise, Inc. dba Cici's Pizza # 339 | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/26/2022 | 65.0 | 36.2 | 37.2 | 0.01 | % | ||||||||||||||||
| ^U & A Food and Fuel, Inc. dba Express Gas & Food Mart | Gasoline Stations | Term Loan | Prime plus 2.75% | 11/21/2037 | 96.2 | 87.1 | 95.0 | 0.04 | % | ||||||||||||||||
| ^Pioneer Windows Manufacturing Corp, Pioneer Windows | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 11/21/2022 | 275.0 | 164.2 | 168.1 | 0.07 | % | ||||||||||||||||
| ^R & J Petroleum LLC Manar USA, Inc. | Gasoline Stations | Term Loan | Prime plus 2.75% | 11/20/2037 | 180.0 | 162.9 | 177.5 | 0.07 | % | ||||||||||||||||
| ^St Judes Physical Therapy P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/19/2022 | 21.0 | 12.6 | 12.9 | 0.01 | % | ||||||||||||||||
| ^Hi-Def Imaging, Inc. dba SpeedPro Imaging | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 11/9/2022 | 22.2 | 13.3 | 13.6 | 0.01 | % | ||||||||||||||||
| ^Reidville Hydraulics Mfg Inc dba Summit | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 11/2/2037 | 265.9 | 240.7 | 261.5 | 0.10 | % | ||||||||||||||||
| ^Big Apple Entertainment Partners, LLC dba Ripley's Believe It or Not | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 10/26/2022 | 180.0 | 108.9 | 111.1 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^LA Diner Inc dba Loukas L A Diner | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/28/2037 | 677.5 | 618.7 | 673.8 | 0.26 | % | ||||||||||||||||
| ^University Park Retreat, LLC dba Massage Heights | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/27/2022 | 76.0 | 44.2 | 45.3 | 0.02 | % | ||||||||||||||||
| ^Forno Italiano Di Nonna Randazzo, LLC dba Nonna Randazzo's Bakery | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/26/2037 | 183.8 | 166.9 | 181.5 | 0.07 | % | ||||||||||||||||
| ^LaSalle Market and Deli EOK Inc and Rugen Realty LLC dba LaSalle Mark | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/21/2037 | 252.3 | 227.3 | 247.2 | 0.10 | % | ||||||||||||||||
| ^O'Rourkes Diner LLC dba O'Rourke's Diner | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/19/2037 | 65.5 | 59.0 | 64.1 | 0.03 | % | ||||||||||||||||
| ^AJK Enterprise LLC dba AJK Enterprise LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 8/27/2022 | 16.5 | 9.4 | 9.7 | — | % | ||||||||||||||||
| ^New Image Building Services, Inc. dba New Image Repair Services | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/23/2037 | 285.7 | 257.0 | 278.9 | 0.11 | % | ||||||||||||||||
| ^Suncoast Aluminum Furniture, Inc | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 8/17/2037 | 360.0 | 323.9 | 352.8 | 0.14 | % | ||||||||||||||||
| ^Georgia Safe Sidewalks LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/27/2022 | 15.0 | 8.4 | 8.6 | — | % | ||||||||||||||||
| ^Hofgard & Co., Inc. dba HofgardBenefits | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 7/27/2022 | 107.2 | 60.7 | 62.1 | 0.02 | % | ||||||||||||||||
| ^Central Tire, Inc. dba Cooper Tire & Auto Services | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/29/2037 | 288.5 | 258.1 | 280.4 | 0.11 | % | ||||||||||||||||
| ^WPI, LLC | Transportation Equipment Manufacturing | Term Loan | Prime plus 2.75% | 6/29/2024 | 129.5 | 84.8 | 87.5 | 0.03 | % | ||||||||||||||||
| ^Havana Central (NY) 5, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/29/2022 | 1,166.8 | 736.2 | 753.5 | 0.29 | % | ||||||||||||||||
| ^Jenkins-Pavia Corporation dba Victory Lane Quick Oil Change | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/27/2037 | 69.7 | 62.4 | 67.8 | 0.03 | % | ||||||||||||||||
| ^KIND-ER-ZZ Inc dba Kidville | Educational Services | Term Loan | Prime plus 2.75% | 6/15/2022 | 50.0 | 27.6 | 28.1 | 0.01 | % | ||||||||||||||||
| ^Graphish Studio, Inc. and Scott Fishoff | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/14/2022 | 20.2 | 11.3 | 11.5 | — | % | ||||||||||||||||
| ^ALF, LLC (EPC) Mulit-Service Eagle Tires | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 5/31/2037 | 62.9 | 56.2 | 61.1 | 0.02 | % | ||||||||||||||||
| ^Craig R Freehauf dba Lincoln Theatre | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 5/31/2022 | 47.9 | 19.4 | 19.9 | 0.01 | % | ||||||||||||||||
| ^Lefont Theaters, Inc. | Motion Picture and Sound Recording Industries | Term Loan | Prime plus 2.75% | 5/30/2022 | 137.0 | 75.3 | 77.0 | 0.03 | % | ||||||||||||||||
| ^Christou Real Estate Holdings LLC dba Tops American Grill | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/17/2037 | 284.0 | 253.2 | 275.5 | 0.11 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Tracey Vita-Morris dba Tracey Vita's School of Dance | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 5/10/2022 | 22.5 | 12.4 | 12.6 | — | % | ||||||||||||||||
| ^Bisson Transportation, Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 5/7/2037 | 588.1 | 550.0 | 597.0 | 0.23 | % | ||||||||||||||||
| ^Bisson Moving & Storage Company Bisson Transportation Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 5/7/2022 | 528.7 | 331.6 | 339.3 | 0.13 | % | ||||||||||||||||
| ^Fair Deal Food Mart Inc dba Neighbors Market | Gasoline Stations | Term Loan | Prime plus 2.75% | 5/3/2037 | 381.3 | 340.3 | 370.3 | 0.14 | % | ||||||||||||||||
| ^Tanner Optical, Inc. dba Murphy Eye Care | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 4/27/2022 | 8.2 | 4.4 | 4.5 | — | % | ||||||||||||||||
| ^Zane Filippone Co Inc dba Culligan Water Conditioning | Nonstore Retailers | Term Loan | Prime plus 2.75% | 4/12/2022 | 558.2 | 302.4 | 309.3 | 0.12 | % | ||||||||||||||||
| ^Indoor Playgrounds Limited Liability Company dba Kidville | Educational Services | Term Loan | Prime plus 2.75% | 4/5/2022 | 19.5 | 5.8 | 6.0 | — | % | ||||||||||||||||
| ^Access Staffing, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/30/2022 | 187.5 | 99.9 | 101.9 | 0.04 | % | ||||||||||||||||
| ^Brandywine Picnic Park, Inc. and B.Ross Capps & Linda Capps | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/30/2031 | 231.5 | 189.5 | 201.9 | 0.08 | % | ||||||||||||||||
| ^Willow Springs Golf Course, Inc. & JC Lindsey Family Limited Partners | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/29/2037 | 755.4 | 674.1 | 734.2 | 0.29 | % | ||||||||||||||||
| ^DC Realty, LLC dba FOGO Data Centers | Professional, Scientific, and Technical Services | Term Loan | 6% | 3/23/2037 | 3,133.8 | 2,623.4 | 2,857.6 | 1.12 | % | ||||||||||||||||
| ^DC Realty, LLC dba FOGO Data Centers | Professional, Scientific, and Technical Services | Term Loan | 6.25% | 3/23/2022 | 1,540.0 | 771.7 | 789.6 | 0.31 | % | ||||||||||||||||
| ^Manuel P. Barrera and Accura Electrical Contractor, Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/23/2028 | 103.7 | 78.9 | 82.8 | 0.03 | % | ||||||||||||||||
| ^Shweiki Media, Inc. dba Study Breaks Magazine | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 3/22/2027 | 1,178.8 | 868.8 | 908.9 | 0.36 | % | ||||||||||||||||
| ^ATI Jet, Inc. | Air Transportation | Term Loan | Prime plus 2.75% | 12/28/2026 | 852.8 | 604.2 | 631.8 | 0.25 | % | ||||||||||||||||
| ^J. Kinderman & Sons, Inc. dba Brite Star Manufacturing Company | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 12/22/2036 | 495.0 | 443.5 | 482.7 | 0.19 | % | ||||||||||||||||
| ^K's Salon, LLC d/b/a K's Salon | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 12/20/2021 | 73.6 | 37.4 | 38.0 | 0.01 | % | ||||||||||||||||
| ^15 Frederick Place LLC & Pioneer Windows Holdings Inc & Subs | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 12/16/2021 | 250.0 | 125.1 | 127.7 | 0.05 | % | ||||||||||||||||
| ^M & H Pinestraw, Inc. and Harris L. Maloy | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/15/2021 | 238.2 | 135.5 | 138.3 | 0.05 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Taylor Transport, Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 12/8/2021 | 515.5 | 157.7 | 161.2 | 0.06 | % | ||||||||||||||||
| ^MRM Supermarkets, Inc. dba Constantin's Breads | Food Manufacturing | Term Loan | Prime plus 2.75% | 11/10/2021 | 137.5 | 68.5 | 70.0 | 0.03 | % | ||||||||||||||||
| ^K9 Bytes, Inc & Epazz, Inc dba K9 Bytes, Inc | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 10/26/2021 | 58.7 | 29.2 | 29.8 | 0.01 | % | ||||||||||||||||
| ^28 Cornelia Street Properties, LLC and Zouk, Ltd. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 10/25/2021 | 22.5 | 11.0 | 11.2 | — | % | ||||||||||||||||
| ^39581 Garfield, LLC and Tri County Neurological Associates, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/30/2036 | 83.3 | 72.9 | 79.2 | 0.03 | % | ||||||||||||||||
| ^PTK, Incorporated dba Night N Day 24 HR Convenience Store | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/30/2036 | 137.5 | 120.5 | 131.0 | 0.05 | % | ||||||||||||||||
| ^Robert E. Caves, Sr. and American Plank dba Caves Enterprises | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/30/2021 | 302.5 | 145.3 | 148.3 | 0.06 | % | ||||||||||||||||
| ^39581 Garfield, LLC and Tricounty Neurological Associates, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/30/2036 | 28.4 | 24.8 | 26.9 | 0.01 | % | ||||||||||||||||
| ^Big Apple Entertainment Partners, LLC dba Ripley's Believe it or Not | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/28/2021 | 1,070.0 | 507.7 | 516.6 | 0.20 | % | ||||||||||||||||
| ^Equity National Capital LLC & Chadbourne Road Capital, LLC | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 9/26/2021 | 62.5 | 30.1 | 30.7 | 0.01 | % | ||||||||||||||||
| ^Bryan Bantry Inc. | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 9/8/2021 | 400.0 | 40.3 | 41.0 | 0.02 | % | ||||||||||||||||
| ^Michael S. Decker & Janet Decker dba The Hen House Cafe | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/30/2036 | 16.4 | 14.3 | 15.5 | 0.01 | % | ||||||||||||||||
| ^Qycell Corporation | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 8/19/2021 | 187.5 | 83.7 | 85.3 | 0.03 | % | ||||||||||||||||
| ^Trademark Equipment Company Inc and David A. Daniel | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 8/19/2036 | 133.6 | 116.8 | 126.9 | 0.05 | % | ||||||||||||||||
| ^Valiev Ballet Academy, Inc | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 8/12/2036 | 91.5 | 37.1 | 40.3 | 0.02 | % | ||||||||||||||||
| ^A & A Auto Care, LLC dba A & A Auto Care, LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/12/2036 | 101.0 | 89.0 | 96.8 | 0.04 | % | ||||||||||||||||
| ^LaHoBa, LLC dba Papa John's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/3/2036 | 77.5 | 67.3 | 73.2 | 0.03 | % | ||||||||||||||||
| ^Kelly Chon LLC dba Shi-Golf | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 7/29/2021 | 17.5 | 4.7 | 4.8 | — | % | ||||||||||||||||
| ^MTV Bowl, Inc. dba Legend Lanes | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/30/2036 | 248.5 | 218.4 | 237.0 | 0.09 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Lavertue Properties LLP dba Lavertue Properties | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 6/29/2036 | 44.7 | 39.1 | 42.5 | 0.02 | % | ||||||||||||||||
| ^Lisle Lincoln II Limited Partnership dba Lisle Lanes LP | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/29/2036 | 338.1 | 305.9 | 332.2 | 0.13 | % | ||||||||||||||||
| ^Pierce Developments, Inc. dba Southside Granite | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 6/13/2036 | 256.1 | 222.7 | 241.5 | 0.09 | % | ||||||||||||||||
| ^Major Queens Body & Fender Corp | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/10/2021 | 28.6 | 13.0 | 13.2 | 0.01 | % | ||||||||||||||||
| ^J&K Fitness, LLC dba Physiques Womens Fitness Center | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/8/2036 | 449.3 | 401.0 | 435.4 | 0.17 | % | ||||||||||||||||
| ^Peanut Butter & Co., Inc. d/b/a Peanut Butter & Co. | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 6/3/2021 | 65.5 | 28.5 | 29.0 | 0.01 | % | ||||||||||||||||
| ^Demand Printing Solutions, Inc. and MLM Enterprises, LLC | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 5/27/2021 | 16.5 | 7.3 | 7.5 | — | % | ||||||||||||||||
| ^Modern on the Mile, LLC dba Ligne Roset | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 5/25/2021 | 212.5 | 93.5 | 95.1 | 0.04 | % | ||||||||||||||||
| ^Profile Performance, Inc. and Eidak Real Estate, L.L.C. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/20/2036 | 127.5 | 110.3 | 119.9 | 0.05 | % | ||||||||||||||||
| ^Northwind Outdoor Recreation, Inc. dba Red Rock Wilderness Store | Nonstore Retailers | Term Loan | Prime plus 2.75% | 4/18/2036 | 129.5 | 114.1 | 124.0 | 0.05 | % | ||||||||||||||||
| ^Michael S. Korfe dba North Valley Auto Repair | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/24/2036 | 15.5 | 13.4 | 14.5 | 0.01 | % | ||||||||||||||||
| ^Actknowledge,Inc dba Actknowledge | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/21/2021 | 57.3 | 24.5 | 25.0 | 0.01 | % | ||||||||||||||||
| ^Key Products I&II, Inc. dba Dunkin' Donuts/Baskin-Robbins | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/10/2021 | 153.0 | 65.6 | 66.8 | 0.03 | % | ||||||||||||||||
| ^Stephen Frank, Patricia Frank and Suds Express LLC dba Frank Chiropra | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 2/25/2023 | 63.0 | 32.5 | 33.5 | 0.01 | % | ||||||||||||||||
| ^SuzyQue’s LLC dba Suzy Que’s | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/11/2036 | 61.0 | 52.7 | 57.3 | 0.02 | % | ||||||||||||||||
| ^Little People’s Village, LLC dba Little People’s Village | Social Assistance | Term Loan | Prime plus 2.75% | 1/31/2036 | 31.1 | 26.7 | 29.0 | 0.01 | % | ||||||||||||||||
| ^Seagate Group Holdings, Inc. dba Seagate Logistics, Inc. | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 1/28/2036 | 113.4 | 97.4 | 105.9 | 0.04 | % | ||||||||||||||||
| ^Patrageous Enterprises, LLC dba Incredibly Edible Delites of Laurel | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/29/2020 | 7.6 | 2.9 | 3.0 | — | % | ||||||||||||||||
| Dixie Transport, Inc. & Johnny D. Brown & Jimmy Brown & Maudain Brown | Support Activities for Transportation | Term Loan | 5.25% | 12/28/2035 | 145.9 | 131.7 | 143.0 | 0.06 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Groundworks Unlimited LLC | Specialty Trade Contractors | Term Loan | 6% | 12/17/2023 | 120.0 | 74.1 | 76.6 | 0.03 | % | ||||||||||||||||
| ^Shree OM Lodging, LLC dba Royal Inn | Accommodation | Term Loan | Prime plus 2.75% | 12/17/2035 | 27.7 | 23.7 | 25.8 | 0.01 | % | ||||||||||||||||
| ^Lodin Medical Imaging, LLC dba Watson Imaging Center | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/1/2020 | 66.4 | 26.2 | 26.6 | 0.01 | % | ||||||||||||||||
| ^Robert F. Schuler and Lori A. Schuler dba Bob’s Service Center | Repair and Maintenance | Term Loan | Prime plus 2.75% | 11/30/2035 | 34.0 | 29.1 | 31.6 | 0.01 | % | ||||||||||||||||
| ^West Cobb Enterprises, Inc and Advanced Eye Associates, L.L.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/12/2035 | 148.7 | 127.2 | 138.1 | 0.05 | % | ||||||||||||||||
| ^Lincoln Park Physical Therapy | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 10/20/2020 | 43.5 | 14.2 | 14.5 | 0.01 | % | ||||||||||||||||
| ^K9 Bytes, Inc & Epazz, Inc | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 9/30/2020 | 18.5 | 7.0 | 7.1 | — | % | ||||||||||||||||
| ^Elan Realty, LLC and Albert Basse Asociates, Inc. | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 9/30/2035 | 228.2 | 194.1 | 210.6 | 0.08 | % | ||||||||||||||||
| ^Success Express,Inc. dba Success Express | Couriers and Messengers | Term Loan | Prime plus 2.75% | 9/29/2020 | 91.8 | 33.6 | 34.1 | 0.01 | % | ||||||||||||||||
| ^Modern Manhattan, LLC | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 9/20/2020 | 204.0 | 76.2 | 77.4 | 0.03 | % | ||||||||||||||||
| ^Dirk's Trucking, L.L.C. dba Dirk's Trucking | Truck Transportation | Term Loan | Prime plus 2.75% | 9/17/2020 | 17.7 | 6.4 | 6.5 | — | % | ||||||||||||||||
| ^Rudy & Louise Chavez dba Clyde's Auto and Furniture Upholstery | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/2/2035 | 50.1 | 42.5 | 46.1 | 0.02 | % | ||||||||||||||||
| ^Newsome Trucking Inc and Kevin Newsome | Truck Transportation | Term Loan | Prime plus 2.75% | 9/2/2035 | 423.1 | 206.1 | 223.6 | 0.09 | % | ||||||||||||||||
| ^California College of Communications, Inc. | Educational Services | Term Loan | Prime plus 2.75% | 11/2/2020 | 172.5 | 66.0 | 67.1 | 0.03 | % | ||||||||||||||||
| ^DDLK Investments LLC dba Smoothie King | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/30/2020 | 7.5 | 1.7 | 1.7 | — | % | ||||||||||||||||
| ^Members Only Software | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/30/2020 | 40.2 | 14.3 | 14.5 | 0.01 | % | ||||||||||||||||
| ^ActKnowledge,Inc dba ActKnowledge | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/30/2020 | 50.0 | 17.3 | 17.6 | 0.01 | % | ||||||||||||||||
| ^I-90 RV & Auto Supercenter | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 6/29/2035 | 74.9 | 63.1 | 68.5 | 0.03 | % | ||||||||||||||||
| ^Zouk, Ltd. dba Palma | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/25/2020 | 27.5 | 9.9 | 10.1 | — | % | ||||||||||||||||
| ^CJ Park Inc. dba Kidville Midtown West | Educational Services | Term Loan | Prime plus 2.75% | 6/25/2020 | 26.4 | 7.2 | 7.3 | — | % | ||||||||||||||||
| ^Tanner Optical Inc. dba Murphy Eye Care | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/22/2035 | 94.6 | 80.2 | 86.9 | 0.03 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^M & H Pine Straw, Inc.and Harris Maloy | Support Activities for Agriculture and Forestry | Term Loan | Prime plus 2.75% | 7/10/2020 | 67.5 | 28.2 | 28.6 | 0.01 | % | ||||||||||||||||
| ^Excel RP, Inc./Kevin and Joann Foley | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 7/8/2028 | 50.0 | 36.2 | 38.2 | 0.01 | % | ||||||||||||||||
| ValleyStar, Inc. dba BrightStar HealthCare | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/28/2020 | 6.1 | 2.1 | 2.1 | — | % | ||||||||||||||||
| ^ValleyStar, Inc. dba BrightStar Healthcare | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/28/2020 | 7.5 | 2.6 | 2.6 | — | % | ||||||||||||||||
| ^Diag, LLC dba Kidville | Educational Services | Term Loan | Prime plus 2.75% | 6/21/2020 | 37.5 | 12.5 | 12.7 | — | % | ||||||||||||||||
| ^M & H Pine Straw, Inc and Harris L. Maloy | Support Activities for Agriculture and Forestry | Term Loan | 6% | 4/30/2020 | 183.3 | 57.0 | 57.9 | 0.02 | % | ||||||||||||||||
| ^New Economic Methods LLC dba Rita's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/15/2020 | 24.8 | 0.6 | 0.6 | — | % | ||||||||||||||||
| ^Cocoa Beach Parasail Corp. dba Cocoa Beach Parasail | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/26/2020 | 6.3 | 2.0 | 2.0 | — | % | ||||||||||||||||
| ^Lahoba,LLC dba Papa John's Pizza | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/30/2034 | 42.5 | 35.4 | 38.3 | 0.01 | % | ||||||||||||||||
| ^Animal Intrusion Prevention Systems Holding Company, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/29/2024 | 126.5 | 26.6 | 27.5 | 0.01 | % | ||||||||||||||||
| ^David A. Nusblatt, D.M.D, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/11/2019 | 9.0 | 2.5 | 2.6 | — | % | ||||||||||||||||
| ^CMA Consulting dba Construction Management Associates | Construction of Buildings | Term Loan | Prime plus 2.75% | 12/11/2019 | 58.5 | 14.9 | 15.1 | 0.01 | % | ||||||||||||||||
| ^KMC RE, LLC & B&B Kennels | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/19/2034 | 58.3 | 48.4 | 52.4 | 0.02 | % | ||||||||||||||||
| ^Demand Printing Solutions, Inc. | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 12/12/2019 | 10.0 | 2.8 | 2.8 | — | % | ||||||||||||||||
| ^Demand Printing Solutions, Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 10/29/2034 | 147.5 | 122.0 | 132.1 | 0.05 | % | ||||||||||||||||
| Rover Repairs | Repair and Maintenance | Term Loan | Prime plus 2.5% | 11/28/2029 | 72.5 | 52.1 | 37.8 | 0.01 | % | ||||||||||||||||
| ^Supreme Screw Products | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 4/17/2019 | 308.2 | 60.8 | 61.3 | 0.02 | % | ||||||||||||||||
| ^Gray Tree Service, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/18/2018 | 50.0 | 7.4 | 7.5 | — | % | ||||||||||||||||
| ^Gourmet to You, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2019 | 12.1 | 2.4 | 2.4 | — | % | ||||||||||||||||
| ^The Alba Financial Group, Inc. | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | 6% | 1/10/2019 | 22.5 | 10.2 | 10.3 | — | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Grapevine Professional Services, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 1/22/2019 | 8.2 | 1.3 | 1.3 | — | % | ||||||||||||||||
| ^Inflate World Corporation | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/30/2018 | 7.5 | 0.7 | 0.8 | — | % | ||||||||||||||||
| ^Peter Thomas Roth Labs LL | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/26/2018 | 425.0 | 54.5 | 54.8 | 0.02 | % | ||||||||||||||||
| ^CBA D&A Pope, LLC dba Christian Brothers Automotive | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/14/2018 | 144.9 | 15.5 | 15.6 | 0.01 | % | ||||||||||||||||
| ^Gilbert Chiropractic Clinic, Inc. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/7/2018 | 22.5 | 0.5 | 0.5 | — | % | ||||||||||||||||
| ^D & D's Divine Beauty School of Esther, LLC | Educational Services | Term Loan | 6% | 8/1/2031 | 57.7 | 49.6 | 53.0 | 0.02 | % | ||||||||||||||||
| Bwms Management, LLC | Food Services and Drinking Places | Term Loan | 0% | 3/1/2018 | 5.1 | 0.2 | 0.2 | — | % | ||||||||||||||||
| Bliss Coffee and Wine Bar, LLC | Food Services and Drinking Places | Term Loan | 6% | 8/31/2019 | 87.5 | 68.6 | 69.4 | 0.03 | % | ||||||||||||||||
| ^Zog Inc. | Other Information Services | Term Loan | 6% | 3/17/2018 | 97.5 | 52.0 | 52.2 | 0.02 | % | ||||||||||||||||
| ^Saan M.Saelee dba Saelee's Delivery Service | Truck Transportation | Term Loan | Prime plus 2.75% | 3/12/2018 | 9.8 | 0.7 | 0.7 | — | % | ||||||||||||||||
| Integrity Sports Group, LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | 6% | 3/6/2018 | 75.0 | 30.9 | 31.0 | 0.01 | % | ||||||||||||||||
| ^Enewhere Custom Canvas, LLC | Textile Product Mills | Term Loan | Prime plus 2.75% | 2/15/2018 | 12.0 | 0.8 | 0.8 | — | % | ||||||||||||||||
| ^A & A Acquisition, Inc. dba A & A International | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 2/15/2018 | 100.0 | 4.3 | 4.3 | — | % | ||||||||||||||||
| ^All American Printing | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 10/26/2032 | 69.7 | 36.5 | 39.3 | 0.02 | % | ||||||||||||||||
| ^Seo's Paradise Cleaners, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 1/19/2018 | 9.7 | 0.2 | 0.2 | — | % | ||||||||||||||||
| Connect Litigation Technology, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2% | 10/18/2025 | 150.6 | 25.8 | 18.4 | 0.01 | % | ||||||||||||||||
| ^Margab, Inc. dba Smoothie King | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/28/2017 | 44.0 | 1.4 | 1.4 | — | % | ||||||||||||||||
| ^RCB Enterprises, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/18/2017 | 21.1 | 0.9 | 0.9 | — | % | ||||||||||||||||
| ^Tammy's Bakery, Inc. dba Tammy's Bakery | Food Manufacturing | Term Loan | Prime plus 2.75% | 12/10/2017 | 71.8 | 3.1 | 3.1 | — | % | ||||||||||||||||
| ^Kings Laundry,LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 10/30/2017 | 64.5 | 0.7 | 0.7 | — | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^1911 East Main Street Holdings, Corp | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/18/2032 | 15.8 | 12.0 | 12.9 | 0.01 | % | ||||||||||||||||
| ^Water Works Laundromat, LLC | Personal and Laundry Services | Term Loan | Prime plus 2.25% | 9/7/2027 | 267.3 | 173.3 | 178.1 | 0.07 | % | ||||||||||||||||
| ^Dave Kris, and MDK Ram Corp. | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 2/5/2026 | 52.6 | 30.2 | 31.6 | 0.01 | % | ||||||||||||||||
| ^Gill Express Inc. dba American Eagle Truck Wash | Repair and Maintenance | Term Loan | Prime plus 2.75% | 1/5/2027 | 286.9 | 177.3 | 186.0 | 0.07 | % | ||||||||||||||||
| ^Smooth Grounds, Inc. | Food Services and Drinking Places | Term Loan | 7.75% | 12/31/2018 | 64.5 | 28.3 | 28.5 | 0.01 | % | ||||||||||||||||
| ^Fran-Car Corporation dba Horizon Landscape Management | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/3/2028 | 244.7 | 65.7 | 69.2 | 0.03 | % | ||||||||||||||||
| ^Head To Toe Personalized Pampering, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 1/27/2031 | 12.0 | 8.7 | 9.3 | — | % | ||||||||||||||||
| ^Christopher F. Bohon & Pamela D. Bohon | Social Assistance | Term Loan | Prime plus 2.75% | 10/28/2026 | 5.1 | 3.1 | 3.2 | — | % | ||||||||||||||||
| Mogas Limited | Gasoline Stations | Term Loan | Prime plus 2.75% | 5/31/2030 | 100.0 | 70.7 | 54.0 | 0.02 | % | ||||||||||||||||
| ^Shree Om Lodging, LLC dba Royal Inn | Accommodation | Term Loan | Prime plus 2.75% | 5/2/2030 | 76.9 | 62.4 | 66.3 | 0.03 | % | ||||||||||||||||
| ^Pedzik's Pets, LLC | Support Activities for Agriculture and Forestry | Term Loan | Prime plus 2.75% | 3/31/2030 | 12.3 | 8.7 | 9.2 | — | % | ||||||||||||||||
| ^Nancy Carapelluci & A & M Seasonal Corner Inc. | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 3/1/2025 | 25.1 | 13.5 | 14.0 | 0.01 | % | ||||||||||||||||
| Patricia Hughes Jones, MD PC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 1/13/2020 | 18.0 | 4.1 | 2.9 | — | % | ||||||||||||||||
| ^Moonlight Multi Media Production, Inc. | Other Information Services | Term Loan | 5.3% | 2/1/2025 | 7.0 | 2.9 | 3.0 | — | % | ||||||||||||||||
| David M. Goens dba Superior Auto Paint & Body, Inc. | Repair and Maintenance | Term Loan | 6% | 8/26/2024 | 32.2 | 16.3 | 16.9 | 0.01 | % | ||||||||||||||||
| ^McCallister Venture Group, LLC and Maw's Vittles, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/30/2029 | 17.2 | 11.1 | 11.8 | — | % | ||||||||||||||||
| ^Computer Renaissance dba Dante IT Services, Inc. | Electronics and Appliance Stores | Term Loan | Prime plus 3.75% | 3/1/2018 | 13.5 | 0.6 | 0.6 | — | % | ||||||||||||||||
| ^Chong Hun Im dba Kim's Market | Food and Beverage Stores | Term Loan | Prime plus 2.5% | 2/27/2024 | 18.3 | 8.6 | 8.8 | — | % | ||||||||||||||||
| Whirlwind Car Wash, Inc. | Repair and Maintenance | Term Loan | Prime plus 2% | 4/9/2029 | 76.9 | 65.2 | 66.5 | 0.03 | % | ||||||||||||||||
| ^West Experience,Inc/West Mountain Equipment Rental,Inc/Ski West Lodge | Amusement, Gambling, and Recreation Industries | Term Loan | 6% | 6/5/2026 | 1,076.7 | 836.0 | 874.3 | 0.34 | % | ||||||||||||||||
| ^Center-Mark Car Wash, Ltd | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 5/18/2024 | 52.3 | 25.6 | 26.5 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Shuttle Car Wash, Inc. dba Shuttle Car Wash | Repair and Maintenance | Term Loan | Prime plus 2.25% | 11/10/2028 | 25.3 | 16.4 | 17.0 | 0.01 | % | ||||||||||||||||
| ^Min Hui Lin | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/30/2028 | 28.8 | 16.6 | 17.5 | 0.01 | % | ||||||||||||||||
| ^Delta Partners, LLC dba Delta Carwash | Repair and Maintenance | Term Loan | Prime plus 2.5% | 4/5/2029 | 61.1 | 40.8 | 42.6 | 0.02 | % | ||||||||||||||||
| ^Auto Sales, Inc. | Motor Vehicle and Parts Dealers | Term Loan | 6% | 8/17/2023 | 17.2 | 7.0 | 7.3 | — | % | ||||||||||||||||
| ^B & J Manufacturing Corporation and Benson Realty Trust | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2% | 3/30/2021 | 57.2 | 16.6 | 16.7 | 0.01 | % | ||||||||||||||||
| ^RAB Services, Inc. & Professional Floor Installations | Specialty Trade Contractors | Term Loan | Prime plus 2.5% | 1/31/2023 | 14.3 | 6.3 | 6.4 | — | % | ||||||||||||||||
| ^Taste of Inverness, Inc. dba China Garden | Food Services and Drinking Places | Term Loan | Prime plus 2% | 6/29/2025 | 16.9 | 8.2 | 8.3 | — | % | ||||||||||||||||
| ^Ralph Werner dba Werner Transmissions | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/29/2021 | 6.0 | 2.0 | 2.1 | — | % | ||||||||||||||||
| ^M. Krishna, Inc. dba Super 8 Motel | Accommodation | Term Loan | Prime plus 2% | 3/20/2025 | 53.2 | 8.8 | 8.9 | — | % | ||||||||||||||||
| ^Robin C. & Charles E. Taylor & Brigantine Aquatic Center LLC | Amusement, Gambling, and Recreation Industries | Term Loan | 6% | 9/14/2023 | 39.8 | 30.1 | 31.1 | 0.01 | % | ||||||||||||||||
| ^OrthoQuest, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2% | 3/12/2022 | 13.0 | 3.7 | 3.7 | — | % | ||||||||||||||||
| ^CPN Motel, L.L.C. dba American Motor Lodge | Accommodation | Term Loan | Prime plus 2.25% | 4/30/2024 | 68.1 | 28.2 | 28.8 | 0.01 | % | ||||||||||||||||
| ^Track Side Collision & Tire, Inc. | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 6/16/2025 | 10.2 | 4.6 | 4.7 | — | % | ||||||||||||||||
| ^Duttakrupa, LLC dba Birmingham Motor Court | Accommodation | Term Loan | Prime plus 2.25% | 9/8/2023 | 22.6 | 11.1 | 11.3 | — | % | ||||||||||||||||
| ^Deesha Corporation, Inc. dba Best Inn & Suites | Accommodation | Term Loan | Prime plus 2.25% | 2/14/2025 | 53.2 | 25.4 | 26.0 | 0.01 | % | ||||||||||||||||
| ^Maruti, Inc | Accommodation | Term Loan | Prime plus 2.25% | 11/25/2024 | 50.4 | 23.5 | 24.0 | 0.01 | % | ||||||||||||||||
| Willington Hills Equestrian Center LLC | Animal Production and Aquaculture | Term Loan | Prime plus 2.75% | 10/19/2022 | 19.5 | 12.5 | 12.9 | 0.01 | % | ||||||||||||||||
| ^LABH, Inc. t/a Ramada Ltd. | Accommodation | Term Loan | Prime plus 2.25% | 9/27/2024 | 85.1 | 37.7 | 38.5 | 0.02 | % | ||||||||||||||||
| ^Randall D. & Patricia D. Casaburi dba Pat's Pizzazz | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 3/13/2023 | 15.7 | 6.3 | 6.5 | — | % | ||||||||||||||||
| ^Gain Laxmi, Inc. dba Super 8 Motel | Accommodation | Term Loan | Prime plus 2.25% | 5/31/2023 | 46.4 | 18.1 | 18.4 | 0.01 | % | ||||||||||||||||
| ^Naseeb Corporation | Accommodation | Term Loan | Prime plus 2.25% | 3/31/2024 | 62.9 | 27.3 | 27.8 | 0.01 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| ^Stillwell Ave Prep School | Social Assistance | Term Loan | Prime plus 2.75% | 1/14/2023 | 17.1 | 5.7 | 5.9 | — | % | ||||||||||||||||
| ^Karis, Inc. | Accommodation | Term Loan | Prime plus 2% | 12/22/2023 | 34.1 | 12.2 | 12.3 | — | % | ||||||||||||||||
| ^Five Corners, Ltd. | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/11/2019 | 19.5 | 3.6 | 3.7 | — | % | ||||||||||||||||
| ^Alyssa Corp dba Knights Inn | Accommodation | Term Loan | Prime plus 2.25% | 9/30/2023 | 65.7 | 39.5 | 40.2 | 0.02 | % | ||||||||||||||||
| ^Bhailal Patel dba New Falls Motel | Accommodation | Term Loan | Prime plus 2.75% | 3/27/2023 | 22.9 | 3.2 | 3.3 | — | % | ||||||||||||||||
| ^Pegasus Automotive, Inc. | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/23/2022 | 25.8 | 9.8 | 10.1 | — | % | ||||||||||||||||
| ^Delyannis Iron Works | Fabricated Metal Product Manufacturing | Term Loan | 6% | 12/8/2022 | 68.4 | 12.1 | 12.5 | — | % | ||||||||||||||||
| ^P. Agrino, Inc. dba Andover Diner | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/18/2021 | 32.6 | 7.5 | 7.6 | — | % | ||||||||||||||||
| ^RJS Service Corporation | Gasoline Stations | Term Loan | Prime plus 2.75% | 8/20/2021 | 18.1 | 5.3 | 5.4 | — | % | ||||||||||||||||
| Total Performing SBA Unguaranteed Investments | $ | 276,970.7 | $ | 245,799.2 | $ | 247,346.8 | 96.77 | % | |||||||||||||||||
| Non-Performing SBA Unguaranteed Investments (3) | |||||||||||||||||||||||||
| *^200 North 8th Street Associates LLC and Enchanted Acres Farm | Food Manufacturing | Term Loan | 6.25% | 5/4/2028 | 468.8 | 469.3 | 450.4 | 0.18 | % | ||||||||||||||||
| *^214 North Franklin, LLC and Winter Ventures, Inc. | Nonstore Retailers | Term Loan | 6% | 11/29/2037 | 81.7 | 81.7 | — | — | % | ||||||||||||||||
| *^A + Quality Home Health Care, Inc. | Ambulatory Health Care Services | Term Loan | 6% | 8/1/2016 | 1.1 | 1.1 | 1.0 | — | % | ||||||||||||||||
| *^Advanced Machine & Technology, Inc. | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 7/29/2025 | 67.1 | 67.3 | 37.7 | 0.01 | % | ||||||||||||||||
| *^Aegis Creative Communications, Inc. | Professional, Scientific, and Technical Services | Term Loan | 6.5% | 11/30/2022 | 245.9 | 246.5 | 243.1 | 0.10 | % | ||||||||||||||||
| *^Alejandro Rico dba Rico Motors and Golden West Motel and Alrima Co Inc | Motor Vehicle and Parts Dealers | Term Loan | 6.75% | 11/25/2040 | 68.3 | 68.4 | 42.0 | 0.02 | % | ||||||||||||||||
| *^Al-Mustafa Enterprise, Inc. and Al-Mustafa Enterprise Inc | Motor Vehicle and Parts Dealers | Term Loan | 6.25% | 9/18/2040 | 129.3 | 129.5 | 106.9 | 0.04 | % | ||||||||||||||||
| *^AUM Estates, LLC and Sculpted Figures Plastic Surgery Inc. | Ambulatory Health Care Services | Term Loan | 6% | 3/14/2038 | 305.3 | 305.7 | — | — | % | ||||||||||||||||
| *AWA Fabrication & Construction, L.L.C. | Fabricated Metal Product Manufacturing | Term Loan | 6% | 4/30/2025 | 34.7 | 34.8 | — | — | % | ||||||||||||||||
| *^B&B Fitness and Barbell, Inc. dba Elevations Health Club | Amusement, Gambling, and Recreation Industries | Term Loan | 6% | 6/22/2035 | 187.9 | 188.2 | 193.2 | 0.08 | % | ||||||||||||||||
| *Baker Sales, Inc. dba Baker Sales, Inc. | Nonstore Retailers | Term Loan | 6% | 3/29/2036 | 177.0 | 177.4 | 77.1 | 0.03 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| *^Fieldstone Quick Stop LLC Barber Investments LLC Thadius M B | Gasoline Stations | Term Loan | 6% | 9/30/2038 | 406.2 | 407.3 | 4.7 | — | % | ||||||||||||||||
| *^Barber Investments LLC and Fieldstone Quickstop LLC and Maine Dollar | Gasoline Stations | Term Loan | 6.25% | 8/15/2039 | 146.0 | 146.3 | — | — | % | ||||||||||||||||
| *^Calhoun Satellite Communications Inc and Transmission Solutions Group | Broadcasting (except Internet) | Term Loan | Prime plus 2.75% | 2/27/2025 | 809.7 | 811.7 | 437.2 | 0.17 | % | ||||||||||||||||
| *Calhoun Satellite Communications, Inc. | Telecommunications | Term Loan | Prime plus 2.75% | 12/2/2026 | 188.7 | 189.1 | 170.2 | 0.07 | % | ||||||||||||||||
| *^Carolina Beefs, LLC dba Beef O'Brady's | Food Services and Drinking Places | Term Loan | 6.75% | 4/13/2025 | 16.5 | 16.5 | — | — | % | ||||||||||||||||
| *^Chickamauga Properties, Inc., MSW Enterprises, LLP | Amusement, Gambling, and Recreation Industries | Term Loan | 6.25% | 12/22/2035 | 59.0 | 59.0 | 56.6 | 0.02 | % | ||||||||||||||||
| *^Chickamauga Properties, Inc. and MSW Enterprises, LLP | Amusement, Gambling, and Recreation Industries | Term Loan | 6.25% | 10/19/2022 | 43.4 | 43.5 | — | — | % | ||||||||||||||||
| *^CM Lab Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 5/20/2026 | 165.7 | 166.1 | 155.1 | 0.06 | % | ||||||||||||||||
| *^Custom Software, Inc. a Colorado Corporation dba M-33 Access | Professional, Scientific, and Technical Services | Term Loan | 6.25% | 6/17/2021 | 274.0 | 274.7 | 241.4 | 0.09 | % | ||||||||||||||||
| *^Custom Software, Inc. a Colorado Corporation dba M-33 Access | Broadcasting (except Internet) | Term Loan | 6.25% | 4/30/2022 | 94.1 | 94.3 | — | — | % | ||||||||||||||||
| *^D&G Capital LLC dba Miami Grill 277 | Food Services and Drinking Places | Term Loan | 6.5% | 12/16/2025 | 81.8 | 82.0 | 53.3 | 0.02 | % | ||||||||||||||||
| *^Daniel S. Fitzpatrick dba Danny's Mobile Appearance Reconditioning Service | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/29/2018 | 0.7 | 0.7 | 0.6 | — | % | ||||||||||||||||
| *^Danjam Enterprises, LLC dba Ariel Dental Care | Ambulatory Health Care Services | Term Loan | 6% | 3/31/2035 | 125.8 | 126.0 | 119.2 | 0.05 | % | ||||||||||||||||
| *^Danjam Enterprises, LLC dba Ariel Dental Care | Ambulatory Health Care Services | Term Loan | 6% | 3/29/2023 | 64.7 | 64.8 | 61.3 | 0.02 | % | ||||||||||||||||
| *^Dill Street Bar and Grill Inc and WO Entertainment, Inc | Food Services and Drinking Places | Term Loan | 6% | 9/27/2027 | 78.2 | 78.4 | — | — | % | ||||||||||||||||
| *Dr. Francis E. Anders, DVM | Professional, Scientific, and Technical Services | Term Loan | 6% | 8/9/2015 | 1.6 | 1.6 | 1.5 | — | % | ||||||||||||||||
| *^DTM Parts Supply Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 6/2/2025 | 54.7 | 54.8 | 42.0 | 0.02 | % | ||||||||||||||||
| *^E & I Holdings, LP & PA Farm Products, LLC | Food Manufacturing | Term Loan | 6% | 4/30/2030 | 4,874.0 | 4,923.2 | 2,836.0 | 1.11 | % | ||||||||||||||||
| *^ENI Inc, Event Networks Inc, ENI Worldwide LLC and Spot Shop Inc | Professional, Scientific, and Technical Services | Term Loan | 6.75% | 4/25/2024 | 386.4 | 386.8 | 87.2 | 0.03 | % | ||||||||||||||||
| *^ENI Inc. dba ENI Group, Inc | Other Information Services | Term Loan | 6.75% | 12/11/2025 | 32.8 | 32.8 | — | — | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| *^Europlast Ltd | Plastics and Rubber Products Manufacturing | Term Loan | 6% | 9/26/2022 | 315.0 | 315.8 | 48.5 | 0.02 | % | ||||||||||||||||
| *^Europlast Ltd | Plastics and Rubber Products Manufacturing | Term Loan | 6% | 5/31/2023 | 107.2 | 107.4 | 64.4 | 0.03 | % | ||||||||||||||||
| *^Event Mecca LLC | Other Information Services | Term Loan | 6% | 4/10/2023 | 12.3 | 12.3 | 9.5 | — | % | ||||||||||||||||
| *^EZ Towing, Inc. | Support Activities for Transportation | Term Loan | 6% | 1/31/2023 | 86.2 | 86.4 | 8.3 | — | % | ||||||||||||||||
| *^Gator Communications Group LLC dba Harvard Printing Group | Printing and Related Support Activities | Term Loan | 6.25% | 3/30/2022 | 232.9 | 233.5 | 25.8 | 0.01 | % | ||||||||||||||||
| *^Gator Communications Group LLC dba Harvard Printing Group | Printing and Related Support Activities | Term Loan | 6.25% | 4/25/2022 | 157.4 | 157.8 | — | — | % | ||||||||||||||||
| *^Gator Communications Group, LLC dba Harvard Printing Group | Printing and Related Support Activities | Term Loan | 6.25% | 3/27/2023 | 13.3 | 13.3 | — | — | % | ||||||||||||||||
| *^Grand Manor Realty, Inc. & Kevin LaRoe | Real Estate | Term Loan | 6% | 2/20/2023 | 18.9 | 19.0 | 17.7 | 0.01 | % | ||||||||||||||||
| *Guzman Group,LLC | Rental and Leasing Services | Term Loan | 6% | 9/30/2019 | 182.8 | 183.3 | 167.6 | 0.07 | % | ||||||||||||||||
| *Harrelson Materials Management,Inc | Waste Management and Remediation Services | Term Loan | 6% | 6/24/2021 | 464.0 | 465.2 | 25.0 | 0.01 | % | ||||||||||||||||
| *^Hartford Cardiology Group LLC and Ideal Nutrition of Connecticut LLC | Ambulatory Health Care Services | Term Loan | 6.25% | 6/30/2026 | 476.5 | 477.6 | 45.6 | 0.02 | % | ||||||||||||||||
| *^Hemingway Custom Cabinetry LLC | Furniture and Related Product Manufacturing | Term Loan | 6.5% | 9/25/2025 | 198.1 | 198.6 | 71.7 | 0.03 | % | ||||||||||||||||
| *^Home Again Restaurant LLC | Food Services and Drinking Places | Term Loan | 6.25% | 6/30/2040 | 58.7 | 58.8 | 47.6 | 0.02 | % | ||||||||||||||||
| *^J Olson Enterprises LLC and Olson Trucking Direct, Inc. | Truck Transportation | Term Loan | 6% | 6/28/2025 | 626.9 | 628.4 | 79.0 | 0.03 | % | ||||||||||||||||
| *^J&M Concessions, Inc.dba A-1 Liquors | Food and Beverage Stores | Term Loan | 6.25% | 3/3/2039 | 130.2 | 130.6 | 64.7 | 0.03 | % | ||||||||||||||||
| *^J&M Concessions Inc dba A 1 Liquors | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 2/27/2025 | 79.8 | 80.0 | 20.2 | 0.01 | % | ||||||||||||||||
| *^Jacksonville Beauty Institute Inc. dba Beauty Institute's | Educational Services | Term Loan | Prime plus 2.75% | 10/23/2025 | 43.6 | 43.7 | 40.8 | 0.02 | % | ||||||||||||||||
| *Jenny's Wunderland, Inc. | Social Assistance | Term Loan | 6% | 6/29/2036 | 128.5 | 128.8 | 32.0 | 0.01 | % | ||||||||||||||||
| *^Karykion, Corporation dba Karykion Corporation | Professional, Scientific, and Technical Services | Term Loan | 6% | 6/28/2022 | 144.4 | 144.8 | 135.2 | 0.05 | % | ||||||||||||||||
| *^Kantz LLC and Kantz Auto LLC dba Kantz's Hometown Auto | Motor Vehicle and Parts Dealers | Term Loan | 6.25% | 10/29/2039 | 64.1 | 64.2 | 57.5 | 0.02 | % | ||||||||||||||||
| *^Kids at Heart,LLC dba Monster Mini Golf | Amusement, Gambling, and Recreation Industries | Term Loan | 6.75% | 9/22/2026 | 21.5 | 21.6 | 12.5 | — | % | ||||||||||||||||
| *Krishna of Orangeburg, Inc. | Accommodation | Term Loan | 6% | 2/20/2032 | 10.3 | 10.3 | 5.7 | — | % | ||||||||||||||||
| *^Kup's Auto Spa Inc | Repair and Maintenance | Term Loan | 6.25% | 11/15/2038 | 365.9 | 366.8 | 342.5 | 0.13 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| *Kup’s Auto Spa, Inc. | Repair and Maintenance | Term Loan | 6.25% | 10/23/2025 | 54.6 | 54.7 | 51.1 | 0.02 | % | ||||||||||||||||
| *^Las Torres Development LLC dba Houston Event Centers | Real Estate | Term Loan | 6% | 8/27/2028 | 51.0 | 51.0 | — | — | % | ||||||||||||||||
| *^M and C Renovations Inc | Construction of Buildings | Term Loan | Prime plus 2.75% | 10/31/2024 | 13.7 | 13.8 | 10.7 | — | % | ||||||||||||||||
| *^Matchless Transportation LLC dba First Class Limo | Transit and Ground Passenger Transportation | Term Loan | 6.25% | 8/3/2022 | 125.6 | 125.9 | 111.8 | 0.04 | % | ||||||||||||||||
| *^Milliken and Milliken, Inc. dba Milliken Wholesale Distribution | Merchant Wholesalers, Durable Goods | Term Loan | 6% | 6/10/2036 | 25.6 | 25.6 | — | — | % | ||||||||||||||||
| *^Mojo Brands Media, LLC | Broadcasting (except Internet) | Term Loan | 6% | 8/28/2023 | 723.1 | 725.0 | 340.6 | 0.13 | % | ||||||||||||||||
| *Morris Glass and Construction | Specialty Trade Contractors | Term Loan | 6% | 3/7/2021 | 44.8 | 44.8 | 2.7 | — | % | ||||||||||||||||
| *Municipal Hydro Sevices Inc. | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 3/30/2027 | 258.4 | 259.0 | 159.0 | 0.06 | % | ||||||||||||||||
| *^New Paltz Dental Care, PLLC dba Ariel Dental Care | Ambulatory Health Care Services | Term Loan | 6% | 6/19/2025 | 97.3 | 97.5 | 59.8 | 0.02 | % | ||||||||||||||||
| *^Colts V LLC and Nowatzke Service Center, Inc | Repair and Maintenance | Term Loan | 6.75% | 9/26/2039 | 576.2 | 577.6 | 546.7 | 0.21 | % | ||||||||||||||||
| *^Nowatzke Service Center Inc dba Nowatzke Truck and Trailer | Repair and Maintenance | Term Loan | Prime plus 2.75% | 1/29/2026 | 96.7 | 96.9 | 91.8 | 0.04 | % | ||||||||||||||||
| *Our Two Daughters L.L.C. dba Washington's Restaurant | Food Services and Drinking Places | Term Loan | 6% | 6/18/2026 | 674.2 | 681.0 | 65.3 | 0.03 | % | ||||||||||||||||
| *^Planet Verte, LLC dba Audio Unlimited | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/20/2020 | 16.4 | 16.4 | 13.9 | 0.01 | % | ||||||||||||||||
| *Professional Systems, LLC and Professional Cleaning | Administrative and Support Services | Term Loan | 6% | 7/30/2020 | 131.6 | 131.8 | 2.4 | — | % | ||||||||||||||||
| *^Route 130 SCPI Holdings LLC Route 130 SCPI Operations LLC | Food Services and Drinking Places | Term Loan | 6.25% | 9/30/2039 | 535.1 | 536.4 | 306.4 | 0.12 | % | ||||||||||||||||
| *^Scoville Plumbing & Heating Inc and Thomas P. Scoville | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/25/2022 | 32.0 | 32.1 | 30.4 | 0.01 | % | ||||||||||||||||
| *^Shivsakti, LLC dba Knights Inn | Accommodation | Term Loan | 6.25% | 12/20/2032 | 8.0 | 8.0 | — | — | % | ||||||||||||||||
| *^Sourceco Limited Liability Company | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/17/2025 | 44.9 | 45.0 | 43.2 | 0.02 | % | ||||||||||||||||
| *^Sovereign Communications LLC | Broadcasting (except Internet) | Term Loan | Prime plus 2.75% | 2/7/2024 | 707.3 | 709.1 | 671.2 | 0.26 | % | ||||||||||||||||
| *^Square Deal Siding Company, LLC dba Square Deal Siding Company | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/18/2025 | 20.2 | 20.3 | 19.4 | 0.01 | % | ||||||||||||||||
| *^STK Ventures Inc dba JP Dock Service & Supply | Specialty Trade Contractors | Term Loan | 6% | 5/9/2037 | 31.6 | 31.6 | — | — | % | ||||||||||||||||
| *^Stormrider Inc dba Shirley's Stormrider Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 9/23/2025 | 60.2 | 60.3 | — | — | % | ||||||||||||||||
| *^Stormrider Inc dba Shirley's Stormrider, Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 11/25/2024 | 119.1 | 119.4 | 43.4 | 0.02 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| *Stormwise South Florida dba Stormwise Shutters | Specialty Trade Contractors | Term Loan | 6% | 11/7/2036 | 110.9 | 111.2 | — | — | % | ||||||||||||||||
| *The Law Office of Joseph A. Foistner Esquire and Affiliates,PC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/26/2027 | 62.3 | 62.5 | — | — | % | ||||||||||||||||
| *^Thomas P. Scoville dba Scoville Plumbing & Heating, Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/16/2021 | 34.3 | 34.3 | 32.5 | 0.01 | % | ||||||||||||||||
| *Transmission Solutions Group, Inc. and Calhoun Satellite Communications | Telecommunications | Term Loan | Prime plus 2.75% | 12/2/2041 | 140.9 | 141.3 | 72.0 | 0.03 | % | ||||||||||||||||
| *^Will Zac Management LLC dba Papa John's | Food Services and Drinking Places | Term Loan | 6.25% | 12/19/2024 | 42.4 | 42.5 | 39.7 | 0.02 | % | ||||||||||||||||
| *^Winter Ventures Inc and 214 N Franklin LLC | Nonstore Retailers | Term Loan | 6% | 4/29/2024 | 56.5 | 56.6 | — | — | % | ||||||||||||||||
| *^Winter Ventures Inc dba Qualitybargainbooks and Qualitybargainmall | Nonstore Retailers | Term Loan | 6% | 12/23/2024 | 149.1 | 149.3 | — | — | % | ||||||||||||||||
| *^Winter Ventures Inc dba Qualitybargainbooks and Qualitybargainmall | Nonstore Retailers | Term Loan | 6% | 4/3/2029 | 134.4 | 134.5 | — | — | % | ||||||||||||||||
| *^Wired LLC and Moulison North Corporation | Specialty Trade Contractors | Term Loan | 6.25% | 6/30/2024 | 320.6 | 321.4 | 312.7 | 0.12 | % | ||||||||||||||||
| *^Wired LLC and Moulison North Corporation | Specialty Trade Contractors | Term Loan | 6.25% | 7/3/2024 | 137.9 | 138.3 | 23.0 | 0.01 | % | ||||||||||||||||
| Total Non-Performing Unguaranteed SBA Investments | 19,246.5 | 19,332.8 | 9,789.2 | 3.83 | % | ||||||||||||||||||||
| Total Unguaranteed SBA Investments | 296,217.2 | 265,132.0 | 257,136.0 | 100.60 | % | ||||||||||||||||||||
| Performing SBA Guaranteed Investments (4) | |||||||||||||||||||||||||
| Party By Design Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/18/2042 | 3,615.0 | 3,615.0 | 4,075.9 | 1.59 | % | ||||||||||||||||
| NY Tent LLC & NY Tent Parent, LLC dba Tent Company of New York | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 9/20/2027 | 3,082.5 | 3,082.5 | 3,391.5 | 1.33 | % | ||||||||||||||||
| SSN GROUP LLC and Dockside Steel Processing LLC | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/29/2042 | 3,750.0 | 3,750.0 | 4,125.9 | 1.61 | % | ||||||||||||||||
| Dan Cline Transport Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 9/29/2030 | 3,016.5 | 3,016.5 | 3,272.9 | 1.28 | % | ||||||||||||||||
| Harco Metal Products Inc | Primary Metal Manufacturing | Term Loan | Prime plus 2.75% | 9/29/2042 | 4,401.0 | 4,401.0 | 4,945.6 | 1.93 | % | ||||||||||||||||
| JBK Truck Trailer and Bus Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/23/2042 | 236.3 | 236.3 | 269.0 | 0.11 | % | ||||||||||||||||
| Pecos Entertainment LLC dba State Theater and Pecos Inn LLC | Motion Picture and Sound Recording Industries | Term Loan | Prime plus 2.75% | 3/27/2042 | 411.5 | 411.5 | 465.8 | 0.18 | % | ||||||||||||||||
| Swantown Inn & Spa LLC | Accommodation | Term Loan | Prime plus 2.75% | 5/26/2042 | 85.3 | 85.3 | 97.1 | 0.04 | % | ||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Bear Creek Entertainment LLC dba The Woods at Bear Creek | Accommodation | Term Loan | Prime plus 2.75% | 8/12/2041 | 1,172.3 | 1,172.3 | 1,329.1 | 0.52 | % | ||||||||||||||||
| House of Bread & Coffee Corp dba Casa Do Pao | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/27/2042 | 407.1 | 407.1 | 463.5 | 0.18 | % | ||||||||||||||||
| CR Park Incorporated dba Define Body and Mind | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/20/2027 | 82.5 | 82.5 | 91.6 | 0.04 | % | ||||||||||||||||
| AP6 LLC and Amishp LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/30/2042 | 323.3 | 323.3 | 368.1 | 0.14 | % | ||||||||||||||||
| Sneads Ferry Foods, Inc. dba DQ Grill & Chill | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/27/2042 | 989.9 | 989.9 | 1,120.7 | 0.44 | % | ||||||||||||||||
| Work of Heart Inc.dba Little Nest Portraits | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/28/2027 | 64.1 | 64.1 | 71.2 | 0.03 | % | ||||||||||||||||
| Total SBA Guaranteed Performing Investments | $ | 21,637.3 | $ | 21,637.3 | $ | 24,088.0 | 9.42 | % | |||||||||||||||||
| Total SBA Unguaranteed and Guaranteed Investments | $ | 317,854.5 | $ | 286,769.3 | $ | 281,224.0 | 110.02 | % | |||||||||||||||||
| Controlled Investments (5) | |||||||||||||||||||||||||
| *Advanced Cyber Security Systems, LLC (6), (18) | Data processing, hosting and related services. | 50% Membership Interest | — | % | — | — | — | — | — | % | |||||||||||||||
| Term Loan | 3 | % | December 2014 | 1,120.0 | 381.0 | — | — | % | |||||||||||||||||
| *Automated Merchant Services, Inc. (7), (18) | Data processing, hosting and related services. | 100% Common Stock | — | % | — | — | — | — | — | % | |||||||||||||||
| CDS Business Services, Inc. (8) | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 100% Common Stock | — | % | — | — | 4,428.0 | 5,500.0 | 2.15 | % | |||||||||||||||
| Line of Credit | Prime plus 2.5% | August 2018 | 7,895.0 | 7,895.0 | 7,895.0 | 3.09 | % | ||||||||||||||||||
| Newtek Technology Solutions, Inc. (11) | Data processing, hosting and related services. | 100% Common Stock | — | % | — | — | 8,384.0 | 16,000.0 | 6.26 | % | |||||||||||||||
| *Fortress Data Management, LLC (18) | Data processing, hosting and related services. | 100% Membership Interest | — | % | — | — | — | — | — | % | |||||||||||||||
| Newtek Insurance Agency, LLC (13), (18) | Insurance Carriers and Related Activities | 100% Membership Interest | — | % | — | — | — | 2,500.0 | 0.98 | % | |||||||||||||||
| *PMTWorks Payroll, LLC (9) | Data processing, hosting and related services. | 100% Membership Interest | — | % | — | — | 725.1 | — | — | % | |||||||||||||||
| Term Loan | 10%-12% | Various maturities through July 2019 | 2,685.0 | 2,685.0 | — | — | % | ||||||||||||||||||
| Secure CyberGateway Services, LLC (10), (18) | Data processing, hosting and related services. | 66.7% Membership Interest | — | % | — | — | — | — | — | % | |||||||||||||||
| Term Loan | 7 | % | June 2017 | 2,400.0 | 300.0 | — | — | % | |||||||||||||||||
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2017 (UNAUDITED) (In Thousands) | |||||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||||
| Small Business Lending, LLC (12), (18) | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 100% Membership Interest | — | % | — | — | — | 2,500.0 | 0.98 | % | |||||||||||||||
| *Summit Systems and Designs, LLC (14), (18) | Data processing, hosting and related services. | 100% Membership Interest | — | % | — | — | — | — | — | % | |||||||||||||||
| ADR Partners, LLC dba banc-serv Partners, LLC (12) | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 100% Membership Interest | — | % | — | — | 5,260.3 | 3,400.0 | 1.33 | % | |||||||||||||||
| Premier Payments LLC (11) | Data processing, hosting and related services. | 100% Membership Interest | — | % | — | — | 16,438.0 | 21,000.0 | 8.22 | % | |||||||||||||||
| International Professional Marketing, Inc. (17) | Professional, Scientific, and Technical Services | 100% Common Stock | — | % | — | — | 8,800.0 | 8,800.0 | 3.44 | % | |||||||||||||||
| Line of Credit | Prime plus 0.5% | April 2018 | 200.0 | 200.0 | 200.0 | 0.08 | % | ||||||||||||||||||
| SIDCO, LLC (17) | Professional, Scientific, and Technical Services | 100% Membership Interest | — | % | — | — | 2,320.0 | 2,320.0 | 0.91 | % | |||||||||||||||
| Line of Credit | Prime plus 0.5% | — | 345.0 | 345.0 | 345.0 | 0.13 | % | ||||||||||||||||||
| Universal Processing Services of Wisconsin, LLC (11) (18) | Data processing, hosting and related services. | 100% Membership Interest | — | % | — | — | — | 66,000.0 | 25.82 | % | |||||||||||||||
| Titanium Asset Management, LLC (15) | Administrative and Support Services | Term Loan | 3 | % | July 2017 | 2,200.0 | 193.9 | — | — | % | |||||||||||||||
| 100% Membership Interest | — | % | — | — | — | — | — | % | |||||||||||||||||
| Excel WebSolutions, LLC (16) | Data processing, hosting and related services. | Term Loan | 10 | % | September 2018 | 1,020.2 | 535.4 | 489.0 | 0.19 | % | |||||||||||||||
| 50% Membership Interest | — | % | — | — | — | — | — | % | |||||||||||||||||
| Total Controlled Investments | $ | 17,865.2 | $ | 58,890.7 | $ | 136,949.0 | 53.58 | % | |||||||||||||||||
| Investments in Money Market Funds | |||||||||||||||||||||||||
| UBS Select Treasury Institutional Fund - 0.84% yield | $ | 9.4 | $ | 9.4 | $ | 9.4 | — | % | |||||||||||||||||
| Total Investments | $ | 335,729.1 | $ | 345,669.4 | $ | 418,182.4 | 163.60 | % | |||||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| Performing SBA Unguaranteed Investments (1) | |||||||||||||||||||||||
| Fort Smith Wings Inc. dba Wing Stop | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/28/2026 | 19.5 | 19.5 | 17.4 | 0.01 | % | ||||||||||||||
| Sand Hill Associates, Ltd. dba Charlie O's Tavern on the Point | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/27/2041 | 419.9 | 419.9 | 409.7 | 0.20 | % | ||||||||||||||
| Joshua L. Baker | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 12/23/2026 | 15.8 | 15.8 | 13.4 | 0.01 | % | ||||||||||||||
| Jacliff Investments Inc. dba International health Technologies | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 12/23/2026 | 125.0 | 125.0 | 106.7 | 0.05 | % | ||||||||||||||
| New Image Building Services, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/21/2026 | 43.8 | 43.8 | 38.7 | 0.02 | % | ||||||||||||||
| Chestnut Street Associates, LLC and Metropolitan Solutions, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/19/2041 | 275.0 | 275.0 | 261.1 | 0.12 | % | ||||||||||||||
| Means Enterprises LLC dba FastFrame Frisco | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 12/16/2026 | 22.5 | 22.5 | 19.5 | 0.01 | % | ||||||||||||||
| New Chicago Wholesale Bakery, Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 12/15/2041 | 452.8 | 452.8 | 443.6 | 0.21 | % | ||||||||||||||
| Soon Im. Chin dba Stan C-Store | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/15/2041 | 212.5 | 212.5 | 216.6 | 0.10 | % | ||||||||||||||
| Sempco, Inc. | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 12/15/2041 | 42.0 | 42.0 | 43.6 | 0.02 | % | ||||||||||||||
| Allied Welding Inc. | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 12/15/2041 | 750.0 | 750.0 | 727.9 | 0.35 | % | ||||||||||||||
| Ericon, Inc. dba Quik Pik | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/15/2041 | 332.2 | 332.2 | 328.4 | 0.16 | % | ||||||||||||||
| White Hawk Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 12/15/2026 | 1,097.8 | 1,097.8 | 937.2 | 0.45 | % | ||||||||||||||
| Elita 7, LLC | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 12/15/2041 | 712.5 | 712.5 | 716.0 | 0.34 | % | ||||||||||||||
| Techni-Pro Institute LLC | Educational Services | Term Loan | Prime plus 2.75% | 12/15/2026 | 190.0 | 190.0 | 166.9 | 0.08 | % | ||||||||||||||
| HMG Strategy, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/14/2026 | 50.0 | 50.0 | 42.7 | 0.02 | % | ||||||||||||||
| Cardinal Homes Inc. and Bret A Berneche | Wood Product Manufacturing | Term Loan | Prime plus 2.75% | 12/14/2041 | 121.3 | 121.3 | 125.3 | 0.06 | % | ||||||||||||||
| Trison Enterprises Inc.dba Lee's Automotive | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/14/2041 | 407.5 | 407.5 | 406.2 | 0.19 | % | ||||||||||||||
| AGG Management Team LLC dba Chevron | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/14/2041 | 287.5 | 287.5 | 298.3 | 0.14 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| Cardinal Homes Inc,.Alouette Holdings Inc. | Wood Product Manufacturing | Term Loan | Prime plus 2.75% | 12/14/2026 | 1,071.3 | 1,071.3 | 1,074.5 | 0.51 | % | ||||||||||||||
| D and E Hardware Co. and D and E Pump Sales and Service | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 12/14/2041 | 528.6 | 528.6 | 518.6 | 0.25 | % | ||||||||||||||
| Wayfarer Bicycle LLC | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 12/13/2041 | 92.5 | 92.5 | 88.9 | 0.04 | % | ||||||||||||||
| Success Advertising Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/13/2041 | 466.5 | 466.5 | 476.4 | 0.23 | % | ||||||||||||||
| Roast Beef Levittown LLC dba Arby's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/13/2026 | 465.0 | 54.6 | 55.0 | 0.03 | % | ||||||||||||||
| Queen Express LLC | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/13/2041 | 187.5 | 187.5 | 191.6 | 0.09 | % | ||||||||||||||
| Mack Team Enterprises Inc.dba The UPS Store #6815 | Couriers and Messengers | Term Loan | Prime plus 2.75% | 12/9/2026 | 20.4 | 20.4 | 18.2 | 0.01 | % | ||||||||||||||
| Recycling Revolution,LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 12/9/2041 | 92.2 | 92.2 | 90.4 | 0.04 | % | ||||||||||||||
| Myndshft Technologies LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/9/2026 | 775.0 | 775.0 | 731.8 | 0.35 | % | ||||||||||||||
| ^New Life Hospital LLC | Hospitals | Term Loan | Prime plus 2.75% | 12/8/2041 | 1,195.5 | 1,195.5 | 1,240.3 | 0.59 | % | ||||||||||||||
| Imagine By Carleen Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 12/8/2041 | 52.5 | 52.5 | 53.3 | 0.03 | % | ||||||||||||||
| Hanson's Greeks LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/8/2026 | 11.3 | 11.3 | 11.3 | 0.01 | % | ||||||||||||||
| Yachting Solutions LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 12/7/2029 | 71.3 | 71.3 | 67.4 | 0.03 | % | ||||||||||||||
| T & B Boots, Inc. dba Takken's Shoes | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 12/7/2026 | 100.0 | 100.0 | 93.0 | 0.04 | % | ||||||||||||||
| Lan Doctors, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/7/2026 | 237.5 | 237.5 | 230.8 | 0.11 | % | ||||||||||||||
| ^The Lake Shore Hospitality Inc dba Dowagiac Baymont Inn & Suites | Accommodation | Term Loan | Prime plus 2.75% | 12/5/2041 | 352.5 | 352.5 | 358.5 | 0.17 | % | ||||||||||||||
| Lilo Holdings LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/5/2026 | 15.9 | 15.9 | 14.3 | 0.01 | % | ||||||||||||||
| Transmission Solutions Group, Inc. and Calhoun Satellite Communications | Telecommunications | Term Loan | Prime plus 2.75% | 12/2/2041 | 141.3 | 141.3 | 130.2 | 0.06 | % | ||||||||||||||
| Calhoun Satellite Communications, Inc. | Telecommunications | Term Loan | Prime plus 2.75% | 12/2/2026 | 192.5 | 192.5 | 171.7 | 0.08 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| Noso Development LLC | Construction of Buildings | Term Loan | Prime plus 2.75% | 12/1/2026 | 75.0 | 75.0 | 64.0 | 0.03 | % | ||||||||||||||
| ^Ericon, Inc. | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/1/2041 | 726.1 | 726.1 | 717.8 | 0.34 | % | ||||||||||||||
| ^Pebble Wood Lane, LLC and Good Sam's Assisted Living Resiidence,LLC | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 11/30/2041 | 67.5 | 67.5 | 70.0 | 0.03 | % | ||||||||||||||
| Sharaz Shah DBA Thomas Jewelers | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 11/30/2026 | 8.1 | 8.1 | 6.9 | — | % | ||||||||||||||
| Choe Trading Group, Inc.dba Rapid Printers of Monterey | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 11/30/2026 | 22.5 | 22.5 | 21.9 | 0.01 | % | ||||||||||||||
| Studio Find It Georgia, Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/30/2026 | 7.5 | 7.5 | 6.5 | — | % | ||||||||||||||
| ^Quick Ship, LLC | Couriers and Messengers | Term Loan | Prime plus 2.75% | 11/30/2026 | 10.5 | 10.5 | 9.0 | — | % | ||||||||||||||
| B4 Fitness LLC dba The Zoo Health Club | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/30/2026 | 22.5 | 22.5 | 20.0 | 0.01 | % | ||||||||||||||
| Imaginarium Foods LLC, | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2042 | 376.7 | 124.4 | 129.2 | 0.06 | % | ||||||||||||||
| RD Management, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/30/2026 | 213.8 | 213.8 | 184.7 | 0.09 | % | ||||||||||||||
| ^Usman Jalil, LLC dba Food Mart | Gasoline Stations | Term Loan | Prime plus 2.75% | 11/29/2041 | 233.3 | 233.3 | 223.3 | 0.11 | % | ||||||||||||||
| Honor Mansion, Inc. | Accommodation | Term Loan | Prime plus 2.75% | 11/29/2026 | 87.5 | 87.5 | 88.1 | 0.04 | % | ||||||||||||||
| Access Staffing, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 11/29/2026 | 1,125.0 | 1,125.0 | 960.4 | 0.46 | % | ||||||||||||||
| WPN Recycling Company LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 11/23/2026 | 22.5 | 22.5 | 22.7 | 0.01 | % | ||||||||||||||
| Hafa Adai Signs and Graphics LLC dba Fastsigns of Auburn -#281901 | Administrative and Support Services | Term Loan | Prime plus 2.75% | 11/23/2026 | 60.0 | 60.0 | 51.9 | 0.02 | % | ||||||||||||||
| CRK Mens, LLC dba Spiff for Men | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/23/2026 | 106.3 | 106.3 | 92.5 | 0.04 | % | ||||||||||||||
| Merchant Coterie, Inc. | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 11/23/2026 | 125.0 | 125.0 | 106.7 | 0.05 | % | ||||||||||||||
| 6E Technologies LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 11/22/2026 | 175.0 | 175.0 | 160.2 | 0.08 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| Broms Asset Management LLC | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 11/22/2026 | 125.0 | 125.0 | 106.7 | 0.05 | % | ||||||||||||||
| Rognes Corp dba RTS | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 11/22/2026 | 389.3 | 389.3 | 354.1 | 0.17 | % | ||||||||||||||
| Bouquet Restaurant LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/22/2041 | 125.0 | 125.0 | 124.9 | 0.06 | % | ||||||||||||||
| ^J.B.K Truck Trailer and Bus Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 11/22/2041 | 435.0 | 435.0 | 427.8 | 0.20 | % | ||||||||||||||
| Skaggs RV Outlet LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 11/21/2026 | 100.0 | 100.0 | 100.7 | 0.05 | % | ||||||||||||||
| Catherine Christine Morin dba Purr-Fect Pets | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/17/2026 | 18.8 | 18.8 | 16.0 | 0.01 | % | ||||||||||||||
| Stratmar Systems Inc dba Stratmar Retail Services | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 11/16/2026 | 68.5 | 68.5 | 69.0 | 0.03 | % | ||||||||||||||
| Hoosier Health Plus, LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/15/2026 | 125.0 | 125.0 | 116.8 | 0.06 | % | ||||||||||||||
| ^J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 11/10/2041 | 446.0 | 446.0 | 450.1 | 0.22 | % | ||||||||||||||
| Hackensack Steel Corporation and Luzerne Ironworks Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/10/2026 | 239.2 | 239.2 | 238.8 | 0.11 | % | ||||||||||||||
| ^Panther Ironworks and Rigging Solutions LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/10/2026 | 151.3 | 151.3 | 138.0 | 0.07 | % | ||||||||||||||
| ^J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 11/10/2026 | 188.8 | 188.8 | 184.8 | 0.09 | % | ||||||||||||||
| ^Bovill Creative,LLC | Real Estate | Term Loan | Prime plus 2.75% | 11/9/2041 | 281.2 | 281.1 | 291.7 | 0.14 | % | ||||||||||||||
| ^Big Apple Entertainment Partners LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/9/2026 | 175.0 | 175.0 | 149.4 | 0.07 | % | ||||||||||||||
| ^Dyer Properties, LLC and Bayview Pharmacy, Inc. | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 11/9/2041 | 240.3 | 240.3 | 234.1 | 0.11 | % | ||||||||||||||
| ^Rich's Food Stores LLC dba Hwy 55 of Wallace | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/9/2026 | 43.8 | 43.8 | 40.5 | 0.02 | % | ||||||||||||||
| MIK LLC dba Firehouse Subs | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/9/2026 | 200.0 | 163.3 | 141.6 | 0.07 | % | ||||||||||||||
| Surgarloaf Concepts LLC dba Fat Biscuit | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/8/2026 | 168.8 | 95.9 | 96.6 | 0.05 | % | ||||||||||||||
| ^Fine Line Interiors, Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 11/4/2041 | 87.5 | 87.5 | 90.8 | 0.04 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Pig-Sty BBQ, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/3/2026 | 71.3 | 71.3 | 71.8 | 0.03 | % | ||||||||||||||
| 131 Miles LLC and Ohm Shubh Laxmi, LLC. dba Mr Hero | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/3/2041 | 127.5 | 35.8 | 37.2 | 0.02 | % | ||||||||||||||
| ^Veracruz Shabo, LLC, Waterfalls Quick Lube LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 11/1/2041 | 118.8 | 118.8 | 119.6 | 0.06 | % | ||||||||||||||
| Glocecol LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 11/1/2026 | 75.0 | 75.0 | 75.5 | 0.04 | % | ||||||||||||||
| Middlesex Auto Sales Corp | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 10/31/2041 | 125.0 | 47.5 | 49.3 | 0.02 | % | ||||||||||||||
| ^Bloomquist Communications Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 10/31/2026 | 60.0 | 59.6 | 50.9 | 0.02 | % | ||||||||||||||
| ^Moolchan Enterprises LLC dba Staying Green | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 10/31/2026 | 18.2 | 18.0 | 16.9 | 0.01 | % | ||||||||||||||
| ^Woodstock Enterprises Corp dba True Scent Candle Company | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 10/31/2041 | 88.8 | 88.6 | 85.2 | 0.04 | % | ||||||||||||||
| ^Patina Investment, Inc and Ram & Sons, Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/27/2041 | 175.0 | 174.8 | 181.3 | 0.09 | % | ||||||||||||||
| Elite Structures Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 10/27/2029 | 225.0 | 225.0 | 217.4 | 0.10 | % | ||||||||||||||
| ^FibAire Communications, LLC | Telecommunications | Term Loan | Prime plus 2.75% | 10/27/2026 | 107.5 | 106.8 | 97.6 | 0.05 | % | ||||||||||||||
| ^Bonita Stone LLC and Castone Creations Inc | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 10/25/2041 | 264.4 | 264.0 | 259.4 | 0.12 | % | ||||||||||||||
| ^Empire Processor Services Inc. and Verrazano Wholesale Dist., Inc. | Nonstore Retailers | Term Loan | Prime plus 2.75% | 10/25/2026 | 131.3 | 130.5 | 131.4 | 0.06 | % | ||||||||||||||
| Blakeslee Arpaia Chapman Inc and Chapman Construction Services LLC | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 10/24/2026 | 425.0 | 422.4 | 416.6 | 0.20 | % | ||||||||||||||
| Eco Vehicle Systems LLC | Transportation Equipment Manufacturing | Term Loan | Prime plus 2.75% | 10/21/2026 | 955.5 | 949.8 | 940.4 | 0.45 | % | ||||||||||||||
| Worldwide Estate, Inc. dba Washington Heights Manor | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 10/21/2041 | 225.0 | 155.8 | 161.6 | 0.08 | % | ||||||||||||||
| ^Gold Wind Logistics LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 10/20/2041 | 175.0 | 175.0 | 181.6 | 0.09 | % | ||||||||||||||
| ^Speaker City, Inc. dba Rollin Thunder | Electronics and Appliance Stores | Term Loan | Prime plus 2.75% | 10/14/2041 | 125.0 | 124.8 | 125.3 | 0.06 | % | ||||||||||||||
| ^Maine Service Corp | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 10/13/2026 | 206.3 | 204.3 | 190.3 | 0.09 | % | ||||||||||||||
| ^Justin Partlow | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 10/13/2026 | 19.5 | 19.4 | 16.5 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Reliable Recovery Services LLC | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 10/7/2026 | 112.5 | 111.8 | 101.4 | 0.05 | % | ||||||||||||||
| ^Ailky Corporation | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 10/3/2026 | 250.0 | 248.5 | 217.5 | 0.10 | % | ||||||||||||||
| ^Wyspen Corporation dba Charlestown Ace | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 10/3/2026 | 36.0 | 35.8 | 30.5 | 0.01 | % | ||||||||||||||
| ^JJA Transportation Management Inc. | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/30/2026 | 52.5 | 51.9 | 44.3 | 0.02 | % | ||||||||||||||
| ^MegaPhase, LLC | Computer and Electronic Product Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2026 | 150.0 | 148.2 | 141.8 | 0.07 | % | ||||||||||||||
| ^Seaway LLC and Reklaw LLC dba Allure Lounge | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/30/2041 | 137.5 | 137.1 | 142.2 | 0.07 | % | ||||||||||||||
| ^Adelworth Bus Corp. | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/30/2041 | 242.8 | 242.1 | 236.6 | 0.11 | % | ||||||||||||||
| Adelwerth Bus Corporation, Transportation Leasing Corp. | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/30/2029 | 654.0 | 648.5 | 619.6 | 0.30 | % | ||||||||||||||
| ^Las Casuelas Del Este Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/29/2041 | 800.0 | 799.4 | 811.3 | 0.39 | % | ||||||||||||||
| ^Thunderdome Racing Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/29/2026 | 19.1 | 18.8 | 18.4 | 0.01 | % | ||||||||||||||
| Vision Automotive LLC dba Vision Chrysler Jeep Dodge Ram of Defiance | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 9/29/2029 | 671.5 | 665.8 | 619.7 | 0.30 | % | ||||||||||||||
| Paragon Fabricators Inc, Paragon Field Services, Inc and Paragon Global | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 9/28/2026 | 648.0 | 640.1 | 586.2 | 0.28 | % | ||||||||||||||
| ^Paragon Global, LLC and Paragon Fabricators Inc and Paragon Field Service | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 9/28/2041 | 405.8 | 404.6 | 382.3 | 0.18 | % | ||||||||||||||
| ^Graphics,Type and Color Enterprises Inc dba Clubflyers.com and GTC Med | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 9/28/2041 | 850.0 | 847.6 | 879.0 | 0.42 | % | ||||||||||||||
| ^Beadon Inc | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/28/2026 | 22.5 | 22.2 | 22.0 | 0.01 | % | ||||||||||||||
| ^CD Game Exchange Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/28/2026 | 22.5 | 22.2 | 19.0 | 0.01 | % | ||||||||||||||
| ^CNC Precision Machine, Inc. | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/28/2041 | 1,250.0 | 1,246.5 | 1,230.6 | 0.59 | % | ||||||||||||||
| ^Kyle M Walker DDS,PC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/27/2026 | 217.8 | 215.1 | 189.0 | 0.09 | % | ||||||||||||||
| ^Luna Nueva LLC dba Bio Builders | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/27/2026 | 15.0 | 14.8 | 13.0 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| Reynolds Fence & Guardrail Inc. | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 9/27/2026 | 629.6 | 621.9 | 596.4 | 0.29 | % | ||||||||||||||
| ^Luv 2 Play Nor Call, LLC dba Luv 2 Play | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/27/2026 | 52.5 | 51.9 | 46.3 | 0.02 | % | ||||||||||||||
| ^Sarah S Olelewe MD Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/26/2041 | 292.4 | 292.2 | 289.2 | 0.14 | % | ||||||||||||||
| ^TPFC,LLC dbaThe Picture Frame Company | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 9/26/2041 | 58.8 | 58.6 | 58.1 | 0.03 | % | ||||||||||||||
| ^Ridge Road Equestrian LLC dba Ricochet Ridge Ranch | Support Activities for Agriculture and Forestry | Term Loan | Prime plus 2.75% | 9/26/2026 | 9.0 | 8.9 | 8.7 | — | % | ||||||||||||||
| ^PeopleBest Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/26/2026 | 15.0 | 14.8 | 12.6 | 0.01 | % | ||||||||||||||
| ^Mr. Mulch, Inc | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 9/23/2041 | 405.8 | 404.6 | 375.8 | 0.18 | % | ||||||||||||||
| ^B4 Fitness LLC dba The Zoo Health Club | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/23/2026 | 87.5 | 86.4 | 76.8 | 0.04 | % | ||||||||||||||
| ^InformationTelevision Network Inc | Motion Picture and Sound Recording Industries | Term Loan | Prime plus 2.75% | 9/22/2041 | 836.8 | 835.6 | 856.4 | 0.41 | % | ||||||||||||||
| ^Kids at Heart,LLC dba Monster Mini Golf | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/22/2026 | 22.5 | 22.3 | 19.3 | 0.01 | % | ||||||||||||||
| ^GRA Financial Services Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/22/2026 | 12.0 | 11.9 | 10.1 | — | % | ||||||||||||||
| ^Wrecking Crew Media LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 9/21/2026 | 50.0 | 49.4 | 42.1 | 0.02 | % | ||||||||||||||
| ^Cuppiecakes LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/21/2041 | 22.5 | 22.4 | 22.1 | 0.01 | % | ||||||||||||||
| ^Benoit's Towing and Recovery LLC | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 9/20/2026 | 12.0 | 11.9 | 10.3 | — | % | ||||||||||||||
| ^Consulting Solutions Inc. and Mark Luciani | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/20/2026 | 22.5 | 22.3 | 20.8 | 0.01 | % | ||||||||||||||
| ^Brittany Burns LLC dba Dreams Come True | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/19/2026 | 12.9 | 12.7 | 12.8 | 0.01 | % | ||||||||||||||
| ^Eyncon LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/16/2041 | 50.0 | 49.9 | 49.8 | 0.02 | % | ||||||||||||||
| ^Tresa S.Parris dba Wagging Tails Grooming | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/16/2026 | 8.0 | 7.9 | 6.8 | — | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^The Merrin Group LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/15/2026 | 175.0 | 172.9 | 164.8 | 0.08 | % | ||||||||||||||
| ^Rich's Food Stores LLC dba Hwy 55 of Wallace | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/14/2026 | 145.5 | 143.7 | 133.2 | 0.06 | % | ||||||||||||||
| ^Atlantic Alarm Systems and Services LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/14/2026 | 15.5 | 15.3 | 13.4 | 0.01 | % | ||||||||||||||
| ^Metropet Dog Center, Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/13/2041 | 109.3 | 108.9 | 109.2 | 0.05 | % | ||||||||||||||
| ^Marquis Cattle Company | Animal Production and Aquaculture | Term Loan | Prime plus 2.75% | 9/13/2026 | 50.0 | 49.7 | 50.1 | 0.02 | % | ||||||||||||||
| ^Bingham Enterprises, Inc and Full Belli Deli and Sausage Company | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/12/2041 | 82.5 | 82.3 | 79.6 | 0.04 | % | ||||||||||||||
| ^Artisan Infrastructure Holdings, LLC | Data Processing, Hosting, and Related Services | Term Loan | Prime plus 2.75% | 9/7/2026 | 125.0 | 123.5 | 105.4 | 0.05 | % | ||||||||||||||
| ^SRA Mechanicial Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/6/2041 | 43.8 | 43.6 | 45.0 | 0.02 | % | ||||||||||||||
| ^Sandia Enterprises Inc dba Massage Envy Spa | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/6/2026 | 62.5 | 61.7 | 52.7 | 0.03 | % | ||||||||||||||
| ^Animal Intrusion Prevention Systems Holding Company, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 8/30/2026 | 125.0 | 123.0 | 107.7 | 0.05 | % | ||||||||||||||
| ^Suncrest Stone Products LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 8/29/2026 | 586.8 | 576.0 | 514.8 | 0.25 | % | ||||||||||||||
| ^Clark Realty LLC | Real Estate | Term Loan | Prime plus 2.75% | 8/29/2041 | 237.5 | 236.5 | 225.0 | 0.11 | % | ||||||||||||||
| ^Raem Corporation dba Dryclean Express | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 8/29/2041 | 72.5 | 72.2 | 73.9 | 0.04 | % | ||||||||||||||
| ^Suncrest Stone Products LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 8/29/2041 | 649.6 | 646.9 | 596.9 | 0.29 | % | ||||||||||||||
| ^TAGR Inc dba Miami Grill 137and John Nakis | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/26/2026 | 106.8 | 104.8 | 91.7 | 0.04 | % | ||||||||||||||
| ^Warren Dale Warrington dba Custom Paint and Body | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/26/2041 | 101.3 | 100.8 | 101.6 | 0.05 | % | ||||||||||||||
| ^Albert Basse Associates Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 8/25/2026 | 62.5 | 61.4 | 61.1 | 0.03 | % | ||||||||||||||
| ^Dean Technology Inc | Electrical Equipment, Appliance, and Component Manufacturing | Term Loan | Prime plus 2.75% | 8/25/2041 | 387.1 | 385.5 | 396.3 | 0.19 | % | ||||||||||||||
| ^Rosmel Pools Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/25/2026 | 22.5 | 22.1 | 19.3 | 0.01 | % | ||||||||||||||
| ^Avery Management Inc. dba Whetstone Upholstery | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/25/2026 | 10.7 | 10.5 | 8.9 | — | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^TR Companies LLC dba True Value Rental and Liberty Rental 4 U | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 8/25/2026 | 90.0 | 88.4 | 75.4 | 0.04 | % | ||||||||||||||
| ^Tabadesa Associates Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/25/2026 | 22.5 | 22.1 | 18.8 | 0.01 | % | ||||||||||||||
| Sambella Holdings, LLC and Strike Zone Entertainment Center LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/24/2041 | 500.0 | 366.5 | 380.2 | 0.18 | % | ||||||||||||||
| ^Tim's Tire & Automotive Center, LLC | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 8/16/2026 | 816.6 | 797.7 | 721.6 | 0.35 | % | ||||||||||||||
| ^Luv 2 Play Temecula, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 8/15/2026 | 60.0 | 58.9 | 50.3 | 0.02 | % | ||||||||||||||
| Bear Creek Entertainment LLC dba The Woods at Bear Creek | Accommodation | Term Loan | Prime plus 2.75% | 8/12/2041 | 437.5 | 279.1 | 284.3 | 0.14 | % | ||||||||||||||
| ^2 Cool Beans LLC dba Menchies's Frozen Yogurt | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/11/2026 | 82.5 | 81.0 | 69.1 | 0.03 | % | ||||||||||||||
| ^Grayson O Company | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 8/10/2041 | 625.0 | 622.4 | 639.7 | 0.31 | % | ||||||||||||||
| ^Charal Investments LLC dba Orange Theory Fitness | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 8/10/2026 | 87.5 | 85.9 | 73.3 | 0.04 | % | ||||||||||||||
| ^PCNKC Inc dba Plato's Closet | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 8/10/2026 | 18.8 | 18.5 | 16.2 | 0.01 | % | ||||||||||||||
| ^Paul Belanger dba Paul Belanger Landscaping | Administrative and Support Services | Term Loan | Prime plus 2.75% | 8/9/2026 | 15.0 | 14.7 | 12.6 | 0.01 | % | ||||||||||||||
| ^R Performance LLC dba Performance Automotive of San Diego | Repair and Maintenance | Term Loan | Prime plus 2.75% | 7/29/2026 | 15.0 | 14.6 | 12.8 | 0.01 | % | ||||||||||||||
| ^The Hungry Rhino LLC | Real Estate | Term Loan | Prime plus 2.75% | 7/29/2041 | 76.3 | 75.8 | 74.9 | 0.04 | % | ||||||||||||||
| ^Nicolette Reiser dba Comfort & Balance | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 7/29/2041 | 75.0 | 74.6 | 75.1 | 0.04 | % | ||||||||||||||
| ^USA General Investment LLC dba Braniff Paint and Body Shop | Repair and Maintenance | Term Loan | Prime plus 2.75% | 7/29/2026 | 22.5 | 21.9 | 19.3 | 0.01 | % | ||||||||||||||
| ^Little Tree Huggers Child Care LLC | Social Assistance | Term Loan | Prime plus 2.75% | 7/29/2041 | 140.0 | 139.2 | 143.9 | 0.07 | % | ||||||||||||||
| ^303 Tower Drive LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 7/29/2041 | 400.3 | 398.0 | 403.4 | 0.19 | % | ||||||||||||||
| ^KJCKD Inc dba Camelot Print & Copy Centers/Copy A Second | Administrative and Support Services | Term Loan | Prime plus 2.75% | 7/28/2041 | 587.0 | 583.7 | 578.9 | 0.28 | % | ||||||||||||||
| ^Big Apple Entertainment Partners LLC dba Ripley's Believe It or Not | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/28/2026 | 300.0 | 292.6 | 249.7 | 0.12 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^676 Club LP dba The Green Door Tavern/The Drifter | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/28/2041 | 670.0 | 665.0 | 679.9 | 0.33 | % | ||||||||||||||
| ^MacIver Corporation dba Division Camera | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 7/28/2026 | 1,250.0 | 1,219.3 | 1,143.1 | 0.55 | % | ||||||||||||||
| ^J And G Group Services LLC and United Vending of Florida Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 7/28/2026 | 31.5 | 30.8 | 27.5 | 0.01 | % | ||||||||||||||
| ^Intrepid Trinity LLC | Nonstore Retailers | Term Loan | Prime plus 2.75% | 7/28/2041 | 62.5 | 62.1 | 62.4 | 0.03 | % | ||||||||||||||
| ^Apple Tree NC Inc dba Williams Farm & Garden Center | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 7/28/2041 | 337.0 | 335.1 | 327.8 | 0.16 | % | ||||||||||||||
| ^Kidtastic LLC dba The Little Gym of Audubon | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/27/2026 | 53.8 | 52.8 | 45.0 | 0.02 | % | ||||||||||||||
| ^GF Libations Inc dba Minuteman Press | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 7/27/2041 | 40.5 | 39.5 | 34.9 | 0.02 | % | ||||||||||||||
| ^EPEC Juice LLC dba Jamba Juice | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/27/2026 | 82.5 | 81.5 | 69.5 | 0.03 | % | ||||||||||||||
| ^Pinco Pizza LLC dba Jet's Pizza | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/27/2026 | 72.9 | 72.0 | 70.4 | 0.03 | % | ||||||||||||||
| ^Peckett's Inc | Crop Production | Term Loan | Prime plus 2.75% | 7/27/2041 | 225.0 | 224.7 | 233.0 | 0.11 | % | ||||||||||||||
| ^JAG Unit 1, LLC dba Arooga's Grille House and Sports Bar | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/27/2026 | 125.0 | 121.9 | 104.1 | 0.05 | % | ||||||||||||||
| ^The Grasso Companies, LLC and Grasso Pavement Maintenance, LLC | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 7/26/2026 | 91.0 | 88.9 | 80.9 | 0.04 | % | ||||||||||||||
| ^Gino Italian American Deli and Meat Market Inc | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 7/25/2041 | 536.8 | 534.2 | 525.0 | 0.25 | % | ||||||||||||||
| ^My Sainath Inc dba Motel 6 | Accommodation | Term Loan | Prime plus 2.75% | 7/22/2041 | 305.4 | 303.7 | 308.6 | 0.15 | % | ||||||||||||||
| ^Robert G Larson State Farm Insurance | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 7/22/2026 | 22.5 | 21.9 | 18.7 | 0.01 | % | ||||||||||||||
| ^J and D Resources LLC dba Aqua Science | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/19/2026 | 130.5 | 127.3 | 109.7 | 0.05 | % | ||||||||||||||
| ^Robert P Daniels dba Ginger and Friend's Peppermint Village Gift Shop | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 7/18/2026 | 15.8 | 15.4 | 13.1 | 0.01 | % | ||||||||||||||
| Franklin Firm LLC dba Luv 2 Play | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/15/2041 | 173.3 | 172.9 | 171.6 | 0.08 | % | ||||||||||||||
| ^Billingsworks LLC dba Spoon Shine Cafe | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/15/2026 | 9.7 | 9.4 | 9.5 | — | % | ||||||||||||||
| ^Be Beautiful LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 7/14/2041 | 66.5 | 66.1 | 67.2 | 0.03 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Takeuchi Commercial Cleaning Services, LLC dba We Clean San Diego | Administrative and Support Services | Term Loan | Prime plus 2.75% | 7/13/2026 | 46.3 | 45.1 | 38.5 | 0.02 | % | ||||||||||||||
| ^Jacob Rugs LLC dba Rugs Outlet | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 7/13/2026 | 65.6 | 64.0 | 64.5 | 0.03 | % | ||||||||||||||
| ^RM Hawkins LLC dba Pure Water Tech West | Nonstore Retailers | Term Loan | Prime plus 2.75% | 7/7/2026 | 50.0 | 48.9 | 46.5 | 0.02 | % | ||||||||||||||
| ^Dino Smiles Children's Cosmetic Dentistry | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 7/7/2026 | 14.3 | 13.9 | 12.2 | 0.01 | % | ||||||||||||||
| Nevey's LLC dba Stark Food III | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/30/2041 | 293.9 | 246.6 | 254.5 | 0.12 | % | ||||||||||||||
| ^P L H Pharmaco Inc dba Farmacia San Jose | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 6/30/2026 | 175.0 | 169.7 | 165.5 | 0.08 | % | ||||||||||||||
| ^Soregard Inc | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 6/30/2041 | 278.8 | 276.8 | 260.2 | 0.12 | % | ||||||||||||||
| ^Martin Inventory Management LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 6/30/2026 | 105.8 | 102.5 | 102.8 | 0.05 | % | ||||||||||||||
| ^Desert Tacos LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2026 | 98.8 | 98.3 | 91.3 | 0.04 | % | ||||||||||||||
| ^VMA Technologies LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/30/2026 | 22.5 | 21.8 | 18.4 | 0.01 | % | ||||||||||||||
| ^Corning Lumber Company Inc and Frank R Close and Son Inc | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 6/30/2029 | 195.5 | 191.3 | 193.4 | 0.09 | % | ||||||||||||||
| ^Castone Creations Inc | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 6/29/2026 | 87.5 | 84.8 | 74.7 | 0.04 | % | ||||||||||||||
| ^WGI, LLC dba Williams Grant Inn | Accommodation | Term Loan | Prime plus 2.75% | 6/29/2041 | 131.3 | 130.3 | 128.8 | 0.06 | % | ||||||||||||||
| ^O.D.S. Inc dba Four Seasons Health & Racquet and Step 'N' Motion, Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/29/2026 | 140.0 | 135.7 | 117.5 | 0.06 | % | ||||||||||||||
| ^KWG Industries, LLC dba Peterson & Marsh Metal Industries | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 6/29/2041 | 304.5 | 302.8 | 303.9 | 0.15 | % | ||||||||||||||
| ^Ninsa LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/29/2041 | 112.5 | 111.7 | 115.5 | 0.06 | % | ||||||||||||||
| ^E & P Holdings 1 LLC and Evans & Paul LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 6/28/2026 | 125.0 | 121.4 | 105.9 | 0.05 | % | ||||||||||||||
| ^MaidPro Marin dba MaidPro | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/28/2026 | 17.6 | 17.0 | 14.3 | 0.01 | % | ||||||||||||||
| ^Edge Pest Control LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/27/2026 | 750.0 | 726.9 | 612.0 | 0.29 | % | ||||||||||||||
| ^All Printing Solutions, Inc. dba Pryntcomm | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 6/27/2041 | 545.6 | 542.4 | 513.8 | 0.25 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Island Time Investments, LLC dba Swantown Inn Bed & Breakfast | Accommodation | Term Loan | Prime plus 2.75% | 6/24/2041 | 101.3 | 100.5 | 103.9 | 0.05 | % | ||||||||||||||
| ^Jumbomarkets Inc dba Rines Jumbomarkets | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/24/2026 | 50.0 | 48.5 | 40.8 | 0.02 | % | ||||||||||||||
| ^Yellow Cab Company of Kissimmee Inc | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 6/24/2041 | 56.8 | 56.4 | 53.2 | 0.03 | % | ||||||||||||||
| ^El Basha Inc dba RPM West San Fernando Valley | Real Estate | Term Loan | Prime plus 2.75% | 6/24/2026 | 22.5 | 20.8 | 17.5 | 0.01 | % | ||||||||||||||
| ^Long Island Comedy LLC dba Governors and New York Comedy, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/23/2041 | 187.5 | 186.2 | 184.4 | 0.09 | % | ||||||||||||||
| ^Visual Advantage LLC dba Signs Now Perryberg | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/23/2041 | 91.3 | 90.6 | 88.7 | 0.04 | % | ||||||||||||||
| Shooting Sports Academy LLC and Jetaa LLC dba Shooting Sports Academy | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/23/2041 | 375.0 | 375.0 | 370.9 | 0.18 | % | ||||||||||||||
| ^SNS of Central Alabama, LLC dba Steak N Shake | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/21/2026 | 57.5 | 55.7 | 50.2 | 0.02 | % | ||||||||||||||
| ^Italian Heritage Tile and Stone Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/20/2026 | 62.5 | 60.6 | 51.0 | 0.02 | % | ||||||||||||||
| ^Evergreen Investment & Property Management LLC ,Universal Kidney Center | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/20/2041 | 1,250.0 | 1,243.2 | 1,261.1 | 0.60 | % | ||||||||||||||
| ^Bagelicious, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/17/2026 | 54.6 | 52.9 | 44.8 | 0.02 | % | ||||||||||||||
| ^T and B Boots Inc dba Takken's Shoes | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 6/17/2026 | 225.0 | 218.4 | 217.4 | 0.10 | % | ||||||||||||||
| ^NKJ Lusby Donuts LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/16/2026 | 22.5 | 21.8 | 18.4 | 0.01 | % | ||||||||||||||
| ^Winegirl Wines LLC | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 6/16/2026 | 11.3 | 10.9 | 10.9 | 0.01 | % | ||||||||||||||
| ^Blue Eagle Transport Inc, Greeneagle Transport Inc | Couriers and Messengers | Term Loan | Prime plus 2.75% | 6/16/2026 | 583.0 | 560.1 | 471.5 | 0.23 | % | ||||||||||||||
| ^Jai-Alexia Consulting, Inc. | Couriers and Messengers | Term Loan | Prime plus 2.75% | 6/15/2026 | 11.8 | 11.5 | 9.6 | — | % | ||||||||||||||
| ^Pumpkin Patch Child Care of Southington, LLC and Giuseppe Pugliares | Social Assistance | Term Loan | Prime plus 2% | 6/15/2041 | 515.3 | 511.2 | 484.8 | 0.23 | % | ||||||||||||||
| ^Strag Industries LLC dba Meineke Car Care Center 841 | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/15/2026 | 15.0 | 14.5 | 13.3 | 0.01 | % | ||||||||||||||
| ^Luv 2 Play AZ LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/10/2026 | 62.5 | 60.6 | 58.5 | 0.03 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Refoleen Inc dba Spice and Tea Exchange | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/10/2026 | 85.0 | 83.9 | 70.7 | 0.03 | % | ||||||||||||||
| ^VBGB Uptown, LLC dba VBGB Beer Hall & Garden | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/8/2026 | 84.0 | 81.4 | 68.5 | 0.03 | % | ||||||||||||||
| ^ScimTech Industries Inc dba Archer Aerospace | Computer and Electronic Product Manufacturing | Term Loan | Prime plus 2.75% | 6/6/2026 | 12.0 | 11.6 | 9.8 | — | % | ||||||||||||||
| ^Larry H. Patterson and Rainbow Movers, Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 6/6/2026 | 22.5 | 21.8 | 18.5 | 0.01 | % | ||||||||||||||
| ^Solvit Inc and Solvit North Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/3/2026 | 250.0 | 242.3 | 214.7 | 0.10 | % | ||||||||||||||
| ^AP5 LLC dba Krauser's Food Store | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/2/2041 | 242.5 | 240.8 | 239.1 | 0.11 | % | ||||||||||||||
| ^ATI Jet Inc | Air Transportation | Term Loan | Prime plus 2.75% | 5/31/2026 | 518.8 | 499.9 | 441.7 | 0.21 | % | ||||||||||||||
| ^Farmer Boy Diner Inc dba Farmer Boy Diner & Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/31/2026 | 50.0 | 48.1 | 48.3 | 0.02 | % | ||||||||||||||
| Angelo Faia dba AVF Construction | Construction of Buildings | Term Loan | Prime plus 2.75% | 5/27/2041 | 100.0 | 98.7 | 97.3 | 0.05 | % | ||||||||||||||
| ^Premier Athletic Center of Ohio, Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 5/27/2026 | 87.5 | 84.3 | 84.6 | 0.04 | % | ||||||||||||||
| ^MNM Printing and Marketing Solutions LLC dba AlphaGraphics of Saint Louis | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 5/27/2026 | 18.8 | 18.1 | 15.2 | 0.01 | % | ||||||||||||||
| ^Mersada Holdings LLC | Nonstore Retailers | Term Loan | Prime plus 2.75% | 5/26/2026 | 337.5 | 325.0 | 326.1 | 0.16 | % | ||||||||||||||
| ^Jack Frost Firewood Inc. and David Dubinsky | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 5/26/2041 | 206.3 | 204.5 | 200.1 | 0.10 | % | ||||||||||||||
| ^Southwest Division Inc | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 5/26/2026 | 8.3 | 7.9 | 7.1 | — | % | ||||||||||||||
| ^International Kitchen Supply LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 5/25/2026 | 186.8 | 179.8 | 160.3 | 0.08 | % | ||||||||||||||
| ^PennyLion LLC dba Creamistry | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/25/2026 | 81.0 | 81.0 | 70.1 | 0.03 | % | ||||||||||||||
| ^Groth Lumber Co. Inc. dba True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 5/25/2026 | 22.5 | 21.7 | 21.7 | 0.01 | % | ||||||||||||||
| ^Island Life Graphics Inc dba FASTSIGNS #576 | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 5/24/2026 | 22.5 | 21.7 | 18.5 | 0.01 | % | ||||||||||||||
| ^Powerspec Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 5/24/2026 | 87.5 | 84.3 | 71.0 | 0.03 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Horseshoe Barbecue, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/23/2029 | 15.0 | 14.2 | 14.4 | 0.01 | % | ||||||||||||||
| ^Pro Auto Repair LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/20/2026 | 7.5 | 7.2 | 6.9 | — | % | ||||||||||||||
| ^Elderfriend Inc dba Granny Nannies dba GN Live Scan | Social Assistance | Term Loan | Prime plus 2.75% | 5/20/2026 | 12.8 | 12.3 | 10.3 | — | % | ||||||||||||||
| ^CM Lab Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 5/20/2026 | 172.6 | 169.5 | 156.1 | 0.07 | % | ||||||||||||||
| ^National Air Cargo Holdings Inc | Air Transportation | Term Loan | Prime plus 2.75% | 5/20/2026 | 1,250.0 | 1,205.2 | 1,174.9 | 0.56 | % | ||||||||||||||
| ^J&A Laundromat Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 5/18/2026 | 67.5 | 65.0 | 56.3 | 0.03 | % | ||||||||||||||
| ^HBA LLC dba Palmetto Twist-Vista | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/18/2026 | 22.5 | 21.7 | 18.7 | 0.01 | % | ||||||||||||||
| ^Dedicated Incorporated | Administrative and Support Services | Term Loan | Prime plus 2.75% | 5/18/2041 | 46.5 | 46.1 | 45.9 | 0.02 | % | ||||||||||||||
| ^Studio Find It Georgia Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 5/13/2026 | 22.5 | 21.7 | 18.9 | 0.01 | % | ||||||||||||||
| ^FJN Catering Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/13/2041 | 262.5 | 260.7 | 266.9 | 0.13 | % | ||||||||||||||
| ^LED Lighting Enterprises LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 5/13/2026 | 22.5 | 21.7 | 18.8 | 0.01 | % | ||||||||||||||
| ^J. Harris Trucking, LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 5/13/2026 | 60.0 | 41.6 | 37.4 | 0.02 | % | ||||||||||||||
| ^Luv 2 Play OC Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 5/12/2026 | 62.5 | 62.5 | 52.6 | 0.03 | % | ||||||||||||||
| ^Pumpkin Patch Inc and Christine Feliciano and Antonio Feliciano | Social Assistance | Term Loan | Prime plus 2.75% | 5/12/2041 | 132.5 | 131.4 | 129.1 | 0.06 | % | ||||||||||||||
| ^The Delon Group LLC dba I Love Juice Bar | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/12/2026 | 55.0 | 53.0 | 44.6 | 0.02 | % | ||||||||||||||
| ^Sabir Inc. dba Bear Diner | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/11/2041 | 123.8 | 122.9 | 124.1 | 0.06 | % | ||||||||||||||
| ^Gator D'Lites LLC dba D'Lites Emporium | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 5/5/2026 | 22.5 | 21.7 | 18.2 | 0.01 | % | ||||||||||||||
| ^Warner Home Comfort, LLC dba Smith Piping | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 4/29/2041 | 82.5 | 81.7 | 80.4 | 0.04 | % | ||||||||||||||
| ^Keller, Fishback & Jackson LLP | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/29/2026 | 131.8 | 125.1 | 125.5 | 0.06 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Marc S. Rosenberg P.C. dba Mammuth and Rosenberg | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/29/2026 | 22.5 | 21.5 | 18.1 | 0.01 | % | ||||||||||||||
| ^May-Craft Fiberglass Products Inc | Transportation Equipment Manufacturing | Term Loan | Prime plus 2.75% | 4/29/2041 | 247.5 | 245.0 | 253.3 | 0.12 | % | ||||||||||||||
| ^Alpha Omega Trucking LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 4/29/2041 | 175.8 | 174.7 | 180.6 | 0.09 | % | ||||||||||||||
| ^Scoler LLC dba Gold's Gym | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/29/2026 | 262.5 | 251.1 | 222.2 | 0.11 | % | ||||||||||||||
| ^Loriet LLC | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 4/29/2026 | 7.5 | 7.2 | 6.1 | — | % | ||||||||||||||
| ^La Nopalera Mexicano 2, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/29/2026 | 125.5 | 123.0 | 123.5 | 0.06 | % | ||||||||||||||
| ^Euro Car Miami LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 4/29/2026 | 62.5 | 59.9 | 60.1 | 0.03 | % | ||||||||||||||
| ^Hard Exercise Works Winter Park LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/29/2026 | 40.8 | 39.0 | 32.8 | 0.02 | % | ||||||||||||||
| ^Empowerschool LLC and Empower Autism Academy, LLC | Social Assistance | Term Loan | Prime plus 2.75% | 4/29/2041 | 151.9 | 150.4 | 155.2 | 0.07 | % | ||||||||||||||
| ^Inner Beauty Salon and Suite LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 4/28/2041 | 65.0 | 64.4 | 65.8 | 0.03 | % | ||||||||||||||
| ^Atlantic Restaurant Associates LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/28/2041 | 262.5 | 259.9 | 263.0 | 0.13 | % | ||||||||||||||
| ^Costume World Inc | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 4/28/2041 | 1,250.0 | 1,239.6 | 1,281.2 | 0.61 | % | ||||||||||||||
| ^Pecos Inn LLC dba Econo Lodge | Accommodation | Term Loan | Prime plus 2.75% | 4/28/2041 | 677.5 | 670.8 | 678.0 | 0.32 | % | ||||||||||||||
| ^North American Manufacturing Company | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 4/28/2026 | 160.0 | 153.1 | 153.6 | 0.07 | % | ||||||||||||||
| ^Shepherd Appraisal Services LLC dba Property Damage Appraisers of Oklahoma | Real Estate | Term Loan | Prime plus 2.75% | 4/28/2026 | 9.0 | 8.6 | 7.2 | — | % | ||||||||||||||
| ^Knowledge First Inc dba Magic Years of Learning | Social Assistance | Term Loan | Prime plus 2.75% | 4/27/2026 | 80.0 | 76.5 | 71.8 | 0.03 | % | ||||||||||||||
| ^Green Country Filter Manufacturing LLC | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 4/27/2026 | 84.3 | 80.6 | 69.8 | 0.03 | % | ||||||||||||||
| ^Accent Comfort Services, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 4/26/2026 | 90.0 | 86.1 | 72.5 | 0.03 | % | ||||||||||||||
| ^Homecare Casa Rhoda 123 Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2% | 4/26/2041 | 675.0 | 667.4 | 642.3 | 0.31 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^McIntosh Trail Management Services Organization Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 4/22/2041 | 425.0 | 420.8 | 434.9 | 0.21 | % | ||||||||||||||
| ^Automotive Core Recycling, LLC and 828 Old Colony Road, LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 4/22/2041 | 250.0 | 247.5 | 234.1 | 0.11 | % | ||||||||||||||
| ^AAA Mill Direct, Inc. dba Carpet Mill Outlets | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 4/21/2026 | 7.9 | 7.5 | 7.6 | — | % | ||||||||||||||
| ^Jande Graphics LLC dba FastSigns #103201 | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/21/2026 | 56.0 | 53.6 | 45.1 | 0.02 | % | ||||||||||||||
| ^Miguel Fernando Borda, P.A. dba BGR Dental | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 4/15/2026 | 22.5 | 21.5 | 18.7 | 0.01 | % | ||||||||||||||
| ^LE & JS dba Laredo Mercado Y Carniceria | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 4/13/2026 | 20.0 | 19.1 | 16.1 | 0.01 | % | ||||||||||||||
| ^Sushiya Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/12/2026 | 87.5 | 83.8 | 73.6 | 0.04 | % | ||||||||||||||
| ^Sierra Foothill Cremation & Funeral Service, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 4/7/2026 | 53.0 | 50.8 | 42.8 | 0.02 | % | ||||||||||||||
| ^Waterfalls Quick Lube LLC and Veracruz Shabo LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/6/2041 | 271.3 | 269.3 | 270.3 | 0.13 | % | ||||||||||||||
| ^KNS Early Learning Academy LLC | Social Assistance | Term Loan | Prime plus 2.75% | 4/6/2041 | 51.0 | 50.5 | 49.4 | 0.02 | % | ||||||||||||||
| ^Duke's Cleaners Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/31/2026 | 47.0 | 44.7 | 41.0 | 0.02 | % | ||||||||||||||
| ^Cameo Carter, MD A Professional Corporation | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/31/2026 | 75.0 | 71.3 | 60.0 | 0.03 | % | ||||||||||||||
| ^Farhad Brothers LLC dba Lulu's Pizzeria & Family Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/31/2026 | 66.8 | 59.6 | 50.1 | 0.02 | % | ||||||||||||||
| ^Christian Soderquist dba Soderquist Plumbing and Heating LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/31/2041 | 56.8 | 56.1 | 57.7 | 0.03 | % | ||||||||||||||
| ^Vehicle Safety Supply LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 3/31/2026 | 22.5 | 21.4 | 18.0 | 0.01 | % | ||||||||||||||
| ^Men of Steel Enterprises LLC and Vogelbacher Properties LLC | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 3/31/2041 | 393.5 | 389.0 | 362.2 | 0.17 | % | ||||||||||||||
| ^Gill Express Inc and Blue Speed LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/31/2041 | 518.0 | 512.1 | 505.3 | 0.24 | % | ||||||||||||||
| ^Dana A. Farley dba Independent Cabinets | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 3/31/2041 | 67.5 | 66.7 | 68.9 | 0.03 | % | ||||||||||||||
| ^NOSO Development, LLC | Construction of Buildings | Term Loan | Prime plus 2.75% | 3/30/2026 | 187.5 | 178.2 | 149.9 | 0.07 | % | ||||||||||||||
| ^Wyldewood Cellars, Inc. | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 3/30/2041 | 986.8 | 985.8 | 936.7 | 0.45 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Gordon Rogers and Heidi Rogers dba Stone House Motor Inn | Accommodation | Term Loan | Prime plus 2.75% | 3/30/2026 | 22.5 | 21.6 | 21.7 | 0.01 | % | ||||||||||||||
| ^Beale Street Blues Company-West Palm Beach, LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 3/30/2026 | 93.8 | 89.1 | 77.1 | 0.04 | % | ||||||||||||||
| ^Tom Sawyer Country Restaurant LLC and AM 3208 LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/30/2041 | 257.5 | 254.6 | 258.5 | 0.12 | % | ||||||||||||||
| ^MTS Car Service LLC | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 3/30/2026 | 10.5 | 10.0 | 8.4 | — | % | ||||||||||||||
| ^Atlantis of Daytona LLC and Pierre Mamane and Eva Mamane | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2% | 3/29/2041 | 525.0 | 513.5 | 505.1 | 0.24 | % | ||||||||||||||
| ^Barrocas Gym LLC dba Snap Fitness | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/29/2026 | 22.5 | 21.1 | 19.1 | 0.01 | % | ||||||||||||||
| ^Vinmar Inc. dba Locanda Portofino | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/29/2026 | 81.3 | 77.2 | 65.0 | 0.03 | % | ||||||||||||||
| ^Lust for Life Footwear, LLC | Leather and Allied Product Manufacturing | Term Loan | Prime plus 2.75% | 3/29/2026 | 375.0 | 356.4 | 299.9 | 0.14 | % | ||||||||||||||
| ^Marathon Engineering Corporation | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 3/28/2041 | 45.0 | 44.5 | 44.7 | 0.02 | % | ||||||||||||||
| ^PHCDC1 LLC dba Quarter + Glory and Public House Collective, Corp. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/28/2026 | 50.0 | 47.5 | 42.5 | 0.02 | % | ||||||||||||||
| ^ReNew Interior Surface Cleaning LLC dba Randy's Carpet Care and Upholstery | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/28/2026 | 12.4 | 11.8 | 11.5 | 0.01 | % | ||||||||||||||
| ^RCB Enterprises, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/25/2026 | 56.3 | 53.5 | 45.0 | 0.02 | % | ||||||||||||||
| ^Revolution Physical Therapy LLC dba Apex Network Physical Therapy | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/25/2026 | 22.5 | 21.6 | 18.7 | 0.01 | % | ||||||||||||||
| ^Excel RP Inc | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 3/25/2026 | 125.0 | 118.8 | 106.7 | 0.05 | % | ||||||||||||||
| ^Lowgap Grocery & Grill LLC | General Merchandise Stores | Term Loan | Prime plus 2.75% | 3/24/2041 | 167.5 | 165.6 | 171.1 | 0.08 | % | ||||||||||||||
| ^ActKnowledge, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/24/2026 | 125.0 | 118.8 | 119.1 | 0.06 | % | ||||||||||||||
| ^International Construction Inc | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 3/24/2041 | 50.0 | 49.5 | 48.4 | 0.02 | % | ||||||||||||||
| ^Flooring Liquidators Inc and Premier Flooring Yonkers Inc and Flooring | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/24/2026 | 50.0 | 47.5 | 46.2 | 0.02 | % | ||||||||||||||
| ^Acton Hardware LLC and Mark Allgood & Jamie Allgood | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 3/24/2041 | 498.6 | 492.9 | 472.6 | 0.23 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^The Youth Fountain LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/23/2026 | 47.5 | 45.2 | 38.0 | 0.02 | % | ||||||||||||||
| ^Magnation Corporation and Misha Family Trust | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 3/22/2041 | 101.3 | 100.4 | 103.7 | 0.05 | % | ||||||||||||||
| ^growth.period LLC and Potomac Recruiting LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/21/2026 | 156.3 | 148.5 | 124.9 | 0.06 | % | ||||||||||||||
| ^Precious Care LLC and Precious Care Management LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/21/2026 | 557.5 | 529.8 | 449.0 | 0.21 | % | ||||||||||||||
| ^Media Capital Partners, Inc | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 3/21/2026 | 22.5 | 21.4 | 18.0 | 0.01 | % | ||||||||||||||
| ^Pro Tech Technology LLC | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 3/18/2026 | 7.5 | 7.1 | 6.0 | — | % | ||||||||||||||
| ^Taylors Zinn Enterprises Inc dba Eons Auto Care Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/18/2041 | 80.8 | 79.8 | 81.5 | 0.04 | % | ||||||||||||||
| ^ERT Group Inc and Curt's Tools Inspection Inc | Support Activities for Mining | Term Loan | Prime plus 2.75% | 3/18/2041 | 1,250.0 | 1,237.6 | 1,216.3 | 0.58 | % | ||||||||||||||
| ^Kekoa Enterprises Inc dba Signarama Sandy | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/18/2026 | 49.5 | 47.0 | 39.6 | 0.02 | % | ||||||||||||||
| ^Mariam Diner Inc dba Country Kitchen Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/18/2026 | 52.5 | 49.9 | 42.0 | 0.02 | % | ||||||||||||||
| ^Brian T Rice dba BD Logging | Forestry and Logging | Term Loan | Prime plus 2.75% | 3/17/2026 | 15.8 | 15.0 | 13.5 | 0.01 | % | ||||||||||||||
| ^Auto and Property Insurance Solutions | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 3/16/2026 | 16.4 | 15.4 | 12.9 | 0.01 | % | ||||||||||||||
| ^Demand Printing Solutions Inc. | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 3/16/2026 | 21.8 | 20.7 | 19.5 | 0.01 | % | ||||||||||||||
| ^LAN Doctors Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/16/2026 | 55.0 | 52.3 | 52.4 | 0.03 | % | ||||||||||||||
| ^Evergreen Pallet LLC and Evergreen Recycle LLC | Wood Product Manufacturing | Term Loan | Prime plus 2.75% | 3/16/2026 | 1,039.3 | 988.2 | 882.4 | 0.42 | % | ||||||||||||||
| ^K Soles Corp dba Max Collections | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 3/16/2026 | 22.5 | 21.4 | 18.0 | 0.01 | % | ||||||||||||||
| ^R & D Enterprises Inc dba My Pool Man | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/15/2026 | 50.0 | 47.5 | 40.0 | 0.02 | % | ||||||||||||||
| ^HEWZ, LLC dba Hard Exercise Works | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/14/2026 | 22.5 | 21.4 | 18.0 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Mustafa Inc and Raouf Properties LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/14/2041 | 75.0 | 74.1 | 75.4 | 0.04 | % | ||||||||||||||
| ^Country Paint and Hardware Inc | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 3/11/2026 | 87.4 | 83.0 | 71.5 | 0.03 | % | ||||||||||||||
| ^Wilban LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/11/2026 | 105.0 | 100.2 | 94.8 | 0.05 | % | ||||||||||||||
| ^ABCs & 123s Infant and Child Care Center LP | Social Assistance | Term Loan | Prime plus 2.75% | 3/11/2026 | 11.3 | 10.7 | 9.0 | — | % | ||||||||||||||
| ^Accuair Control Systems LLC dba Accuair Suspension | Transportation Equipment Manufacturing | Term Loan | Prime plus 2.75% | 3/11/2026 | 150.0 | 142.6 | 122.8 | 0.06 | % | ||||||||||||||
| ^Dupre Capital LLC dba Fastsigns | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 3/11/2026 | 58.4 | 55.5 | 46.7 | 0.02 | % | ||||||||||||||
| ^Magill Truck Line LLC and Jeff J. Ralls | Truck Transportation | Term Loan | Prime plus 2.75% | 3/11/2029 | 210.8 | 203.6 | 183.0 | 0.09 | % | ||||||||||||||
| ^Fayette Computer Consulting Company | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/10/2026 | 22.5 | 21.4 | 18.9 | 0.01 | % | ||||||||||||||
| ^State Painting & Decorating Co., Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/10/2026 | 103.8 | 98.6 | 83.0 | 0.04 | % | ||||||||||||||
| ^B.P.T.M. of NV LLC and Agentis Bros., LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/9/2041 | 525.0 | 519.0 | 513.8 | 0.25 | % | ||||||||||||||
| ^Step Up Academy of the Arts LLC | Educational Services | Term Loan | Prime plus 2.75% | 3/9/2026 | 8.0 | 7.6 | 6.4 | — | % | ||||||||||||||
| ^A & A Auto Care LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/9/2026 | 12.2 | 11.5 | 11.0 | 0.01 | % | ||||||||||||||
| ^Faith Summit Supply Inc dba Summit Supply and Summit True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 3/9/2026 | 22.5 | 21.4 | 19.4 | 0.01 | % | ||||||||||||||
| ^Swerve Salon LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/8/2026 | 79.0 | 75.1 | 63.2 | 0.03 | % | ||||||||||||||
| ^J & W Hardwood Flooring Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/7/2026 | 7.5 | 7.1 | 6.0 | — | % | ||||||||||||||
| ^Labmates LLC and POV Holdings LLC | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 3/4/2041 | 109.3 | 108.0 | 111.6 | 0.05 | % | ||||||||||||||
| ^Hueston and Company CPA LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/4/2026 | 8.3 | 7.7 | 6.7 | — | % | ||||||||||||||
| ^Almost Home Daycare LLC | Social Assistance | Term Loan | Prime plus 2.75% | 3/3/2026 | 50.0 | 47.5 | 46.3 | 0.02 | % | ||||||||||||||
| ^Miles of Smiles Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/2/2026 | 93.5 | 90.5 | 77.9 | 0.04 | % | ||||||||||||||
| ^Johnson & Dugan Insurance Services Corp | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 2/28/2026 | 62.5 | 59.0 | 49.7 | 0.02 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Living Essentials HVAC Corp | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 2/28/2026 | 15.0 | 14.2 | 12.1 | 0.01 | % | ||||||||||||||
| ^Consulting Solutions, Inc. and Mark Luciani | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 2/28/2026 | 11.3 | 10.6 | 10.4 | — | % | ||||||||||||||
| ^Doxa Deo Inc dba Luv 2 Play | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/28/2026 | 105.0 | 103.5 | 90.3 | 0.04 | % | ||||||||||||||
| ^The River Beas, LLC dba Subway and Punam Singh | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2041 | 135.9 | 134.1 | 136.7 | 0.07 | % | ||||||||||||||
| ^Drug Detection Laboratories, Inc. and Minh Tran | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 2/28/2026 | 19.8 | 18.7 | 16.0 | 0.01 | % | ||||||||||||||
| ^Powerpits CS1, LLC dba Pita Pit | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2026 | 18.8 | 17.7 | 15.8 | 0.01 | % | ||||||||||||||
| ^Blackstones Hairdressing LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/23/2026 | 52.0 | 49.4 | 42.0 | 0.02 | % | ||||||||||||||
| ^Aaradhya LLC dba Market Square Laundry | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/23/2026 | 80.0 | 75.5 | 63.5 | 0.03 | % | ||||||||||||||
| ^R-No-Landscaping LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/19/2026 | 8.3 | 7.8 | 6.7 | — | % | ||||||||||||||
| ^BER Enterprise 332 Inc dba Edible Arrangements | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 2/19/2026 | 22.5 | 21.3 | 18.1 | 0.01 | % | ||||||||||||||
| ^R & K Contracting Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 2/18/2026 | 15.8 | 15.0 | 14.5 | 0.01 | % | ||||||||||||||
| ^Pacific Coast Medical Group LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 2/17/2026 | 245.0 | 231.3 | 231.9 | 0.11 | % | ||||||||||||||
| ^B for Blonde, LLC dba Blo Blow Dry Bar | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/12/2026 | 62.0 | 59.3 | 50.0 | 0.02 | % | ||||||||||||||
| ^Gilmore Heights Dental Holdings, LTD and Chas Rob LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 2/12/2029 | 310.3 | 298.6 | 272.7 | 0.13 | % | ||||||||||||||
| ^Ei3 Corporation | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 2/12/2026 | 326.9 | 308.6 | 309.5 | 0.15 | % | ||||||||||||||
| ^Jersey Shore Marina & Boat Sales, Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/12/2041 | 625.0 | 617.7 | 638.2 | 0.31 | % | ||||||||||||||
| ^Base USA, Inc. | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 2/2/2026 | 50.0 | 47.2 | 47.4 | 0.02 | % | ||||||||||||||
| ^Nowatzke Service Center Inc dba Nowatzke Truck and Trailer | Repair and Maintenance | Term Loan | Prime plus 2.75% | 1/29/2026 | 105.0 | 98.6 | 98.9 | 0.05 | % | ||||||||||||||
| ^Zouk Ltd dba Palma | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/29/2026 | 22.5 | 21.1 | 21.2 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Tammy Lavertue | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 1/28/2026 | 11.3 | 10.5 | 10.2 | — | % | ||||||||||||||
| ^SuzyQue's LLC dba SuzyQue's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/28/2026 | 22.5 | 21.2 | 21.2 | 0.01 | % | ||||||||||||||
| ^Wildflour Bakery & Cafe LLC | Social Assistance | Term Loan | Prime plus 2.75% | 1/28/2026 | 62.5 | 58.6 | 57.2 | 0.03 | % | ||||||||||||||
| ^New Image Building Services, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 1/19/2026 | 83.1 | 78.0 | 69.1 | 0.03 | % | ||||||||||||||
| ^Oak Tree Storage LLC | Other Information Services | Term Loan | Prime plus 2.75% | 1/19/2026 | 78.8 | 73.8 | 63.4 | 0.03 | % | ||||||||||||||
| ^Gendron Funeral and Cremation Services, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 1/11/2041 | 112.5 | 109.4 | 113.0 | 0.05 | % | ||||||||||||||
| ^Dolarian Realty LLC and OV's Restaurant Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/5/2041 | 67.8 | 66.9 | 69.1 | 0.03 | % | ||||||||||||||
| ^Lemonberry Food Stores Inc dba Lemonberry Frozen Yogurt | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/29/2025 | 112.5 | 104.8 | 91.8 | 0.04 | % | ||||||||||||||
| ^MCF Forte LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/29/2025 | 18.8 | 17.5 | 14.9 | 0.01 | % | ||||||||||||||
| ^Panditos LLC dba White Lotus Home | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 12/28/2025 | 15.9 | 14.8 | 12.5 | 0.01 | % | ||||||||||||||
| ^Bright Dialysis LLC and Ft Pierce Kidney Care LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/28/2025 | 1,250.0 | 1,164.4 | 982.9 | 0.47 | % | ||||||||||||||
| ^V2 Tango LLC dba Palette 22 | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/23/2025 | 250.0 | 232.9 | 202.5 | 0.10 | % | ||||||||||||||
| ^Ridge Road Equestrian LLC dba Ricochet Ridge Ranch Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/23/2040 | 102.5 | 100.8 | 100.7 | 0.05 | % | ||||||||||||||
| ^800 on the Trax LLC and Matrix Z LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 12/23/2040 | 240.0 | 237.2 | 235.1 | 0.11 | % | ||||||||||||||
| ^Optima Health Care Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/23/2025 | 62.5 | 58.2 | 58.4 | 0.03 | % | ||||||||||||||
| ^B&B Organics LLC | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 12/22/2040 | 375.0 | 368.9 | 381.0 | 0.18 | % | ||||||||||||||
| ^Joyce Outdoor Advertising Chicago LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/22/2040 | 300.0 | 297.0 | 292.6 | 0.14 | % | ||||||||||||||
| ^The LAX Shop Inc | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 12/22/2025 | 125.0 | 91.4 | 91.6 | 0.04 | % | ||||||||||||||
| ^Premier Athletic Center of Ohio Inc. and Gates Investments and Wade Gates | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/22/2028 | 882.0 | 840.0 | 848.3 | 0.41 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Hattingh Incorporated dba Prosthetic Care Facility | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/21/2025 | 18.0 | 16.8 | 14.9 | 0.01 | % | ||||||||||||||
| ^G.W. Fitness Centers, LLC and J.G. Fitness LLC and NP Gym LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/18/2040 | 1,025.0 | 1,008.3 | 1,041.3 | 0.50 | % | ||||||||||||||
| ^Trip Consultants U.S.A. Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/18/2025 | 175.0 | 163.0 | 137.1 | 0.07 | % | ||||||||||||||
| ^Jay Kevin Gremillion dba Dino Smiles Children's Cosmetic Dentistry | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/18/2025 | 73.0 | 69.8 | 60.5 | 0.03 | % | ||||||||||||||
| ^Accent Tag and Label Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 12/18/2040 | 665.8 | 652.2 | 649.1 | 0.31 | % | ||||||||||||||
| ^Abbondanza Market LLC dba Hampton Falls Village Market | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/18/2025 | 73.8 | 62.7 | 54.7 | 0.03 | % | ||||||||||||||
| ^Capital Scrap Metal LLC | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/18/2025 | 36.0 | 33.5 | 28.7 | 0.01 | % | ||||||||||||||
| ^Labmates LLC | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 12/18/2040 | 162.5 | 159.9 | 165.1 | 0.08 | % | ||||||||||||||
| ^Sourceco Limited Liability Company | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/17/2025 | 62.5 | 58.3 | 51.0 | 0.02 | % | ||||||||||||||
| ^Mustafa Inc dba Adiba Grocery | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/17/2025 | 103.8 | 96.7 | 96.2 | 0.05 | % | ||||||||||||||
| ^Learning Skills LLC and Christopher Shrope | Educational Services | Term Loan | Prime plus 2.75% | 12/17/2025 | 10.8 | 10.1 | 8.5 | — | % | ||||||||||||||
| ^New York Home Health Care Equipment, LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/16/2025 | 875.0 | 817.8 | 801.9 | 0.38 | % | ||||||||||||||
| ^Moments to Remember USA LLC dba Retain Loyalty | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/16/2025 | 75.0 | 70.0 | 65.3 | 0.03 | % | ||||||||||||||
| ^Swalm Sreet LLC and New York Home Health Care Equipment LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/16/2040 | 375.0 | 370.1 | 376.1 | 0.18 | % | ||||||||||||||
| ^JAG Unit 1, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/16/2025 | 250.0 | 233.3 | 196.2 | 0.09 | % | ||||||||||||||
| ^D&G Capital LLC dba Miami Grill 277 | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/16/2025 | 83.8 | 87.2 | 80.6 | 0.04 | % | ||||||||||||||
| ^Abitino's JFK LLC dba Abitino's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/16/2022 | 125.0 | 113.8 | 100.8 | 0.05 | % | ||||||||||||||
| ^SDA Holdings LLC and Les Cheveux Salon Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 12/15/2040 | 428.8 | 421.1 | 412.2 | 0.20 | % | ||||||||||||||
| ^Evans & Paul LLC and E&P Holdings I LLC | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 12/15/2025 | 125.0 | 116.4 | 101.5 | 0.05 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Basista Family Limited Partnership and UPE, Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 12/14/2040 | 342.5 | 336.9 | 333.8 | 0.16 | % | ||||||||||||||
| ^DC Enterprises Ltd. dba Lakeview True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 12/14/2025 | 22.5 | 21.0 | 19.9 | 0.01 | % | ||||||||||||||
| ^Tri-State Remodeling & Investments, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/11/2025 | 15.9 | 14.8 | 14.3 | 0.01 | % | ||||||||||||||
| ^Alexandra Afentoulides dba Vi's Pizza Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/11/2040 | 46.3 | 45.5 | 47.0 | 0.02 | % | ||||||||||||||
| ^AGR Foodmart Inc dba Nashua Road Mobil | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/11/2025 | 22.5 | 21.0 | 19.9 | 0.01 | % | ||||||||||||||
| ^ENI Inc. dba ENI Group, Inc | Other Information Services | Term Loan | Prime plus 2.75% | 12/11/2025 | 36.0 | 33.5 | 29.7 | 0.01 | % | ||||||||||||||
| ^Cares, Inc dba Dumpling Grounds Day Care Center | Social Assistance | Term Loan | Prime plus 2.75% | 12/10/2025 | 7.5 | 7.0 | 6.9 | — | % | ||||||||||||||
| ^Custom Exteriors, Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/9/2025 | 100.0 | 93.2 | 81.5 | 0.04 | % | ||||||||||||||
| ^Sushiya, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/8/2025 | 108.8 | 101.3 | 88.9 | 0.04 | % | ||||||||||||||
| ^My Jewels, LLC dba The UPS Store #6712 | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/7/2025 | 56.3 | 33.2 | 27.9 | 0.01 | % | ||||||||||||||
| ^Food & Fuel Company LLC dba Lowery Food Mart | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/4/2040 | 122.5 | 120.5 | 124.2 | 0.06 | % | ||||||||||||||
| ^Blue Ox Trucking Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 12/4/2025 | 12.3 | 11.5 | 11.5 | 0.01 | % | ||||||||||||||
| ^LC Blvd Holdings LLC and Mt Pleasant Wash & Wax LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/4/2040 | 502.5 | 494.3 | 497.1 | 0.24 | % | ||||||||||||||
| ^American Campgrounds LLC dba Whit's End Campground | Accommodation | Term Loan | Prime plus 2.75% | 12/4/2040 | 293.0 | 288.2 | 290.4 | 0.14 | % | ||||||||||||||
| ^Tariq, LLC dba 76 Food Mart | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/2/2040 | 375.0 | 368.9 | 371.4 | 0.18 | % | ||||||||||||||
| ^401 JJS, Corp and G. Randazzo's Trattoria Corporation | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/1/2040 | 52.8 | 52.1 | 51.6 | 0.02 | % | ||||||||||||||
| ^Delta Aggregate, LLC | Mining (except Oil and Gas) | Term Loan | Prime plus 2.75% | 11/30/2025 | 100.0 | 95.4 | 95.7 | 0.05 | % | ||||||||||||||
| ^Block and Grinder LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/30/2025 | 200.0 | 187.5 | 186.6 | 0.09 | % | ||||||||||||||
| ^Hurshell Leon Dutton dba High Jump Party Rentals | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 11/30/2025 | 17.6 | 16.2 | 16.0 | 0.01 | % | ||||||||||||||
| ^Japp Business Inc dba Pick and Eat and Japp Drink Corp. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/30/2025 | 125.0 | 115.6 | 102.7 | 0.05 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Smokeyard Inc dba Smokeyard BBQ and Chop Shop | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/30/2025 | 125.0 | 115.6 | 99.6 | 0.05 | % | ||||||||||||||
| ^Alejandro Rico dba Rico Motors and Golden West Motel and Alrima Co Inc | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 11/25/2040 | 146.3 | 143.9 | 148.4 | 0.07 | % | ||||||||||||||
| ^State Painting and Decorating Co Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/25/2025 | 100.0 | 92.5 | 77.8 | 0.04 | % | ||||||||||||||
| ^Medeiros Holdings Inc dba Outdoor Lighting Perspectives of the Triad | Electrical Equipment, Appliance, and Component Manufacturing | Term Loan | Prime plus 2.75% | 11/25/2025 | 22.5 | 20.7 | 17.4 | 0.01 | % | ||||||||||||||
| ^DWeb Studio, Inc. | Educational Services | Term Loan | Prime plus 2.75% | 11/25/2025 | 11.3 | 10.4 | 8.7 | — | % | ||||||||||||||
| ^Sambella Holdings, LLC and Strike Zone Entertainment Center LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/23/2040 | 750.0 | 747.7 | 764.6 | 0.37 | % | ||||||||||||||
| ^Play and Learn Child Care and School Inc | Social Assistance | Term Loan | Prime plus 2.75% | 11/23/2025 | 11.1 | 10.3 | 10.3 | — | % | ||||||||||||||
| ^Ronny Ramirez RX Corp dba Naturxheal Family Pharmacy | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 11/20/2025 | 89.0 | 83.4 | 71.7 | 0.03 | % | ||||||||||||||
| ^Haven Hospitality Group Inc. dba Haven Gastropub | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/20/2025 | 132.5 | 122.6 | 105.2 | 0.05 | % | ||||||||||||||
| ^CNYP 717 Irondequoit LLC and CNYP 2002 Ontario LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/20/2040 | 244.4 | 240.0 | 224.7 | 0.11 | % | ||||||||||||||
| ^S.B.B. Enterprises Inc dba Williamston Hardware | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 11/19/2040 | 108.8 | 106.6 | 100.1 | 0.05 | % | ||||||||||||||
| ^Key Pix Productions Inc. dba Air Bud Entertainment | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 11/18/2040 | 839.8 | 824.8 | 851.8 | 0.41 | % | ||||||||||||||
| ^Holloway & CO. P.L.L.C. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 11/16/2025 | 75.0 | 69.4 | 69.5 | 0.03 | % | ||||||||||||||
| ^RDT Enterprises, L.L.C. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/12/2025 | 22.5 | 20.8 | 19.5 | 0.01 | % | ||||||||||||||
| ^E.S.F.P. LLC dba Volusia Van and Storage | Truck Transportation | Term Loan | Prime plus 2.75% | 11/11/2025 | 91.3 | 84.4 | 72.8 | 0.03 | % | ||||||||||||||
| ^Green Life Lawnscapes LLC dba Green Life Lawn Care | Administrative and Support Services | Term Loan | Prime plus 2.75% | 11/6/2025 | 127.3 | 117.7 | 114.7 | 0.05 | % | ||||||||||||||
| ^Joseph Nich and Tina M. Nich dba Vic's Greenhouses | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 11/4/2025 | 62.5 | 58.2 | 58.3 | 0.03 | % | ||||||||||||||
| ^Jumbomarkets Inc dba Rines Jumbomarkets | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 11/4/2025 | 306.3 | 283.3 | 274.8 | 0.13 | % | ||||||||||||||
| ^Bisson Transportation Inc dba I & R Associates and Document Secutiry | Truck Transportation | Term Loan | Prime plus 2.75% | 10/30/2025 | 22.5 | 20.7 | 19.4 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Top Cat Ready Mix, LLC, Ples Investments LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 10/28/2025 | 711.3 | 653.6 | 572.5 | 0.27 | % | ||||||||||||||
| ^L.M. Jury Enterprises, Inc dba Midwest Monograms | Textile Product Mills | Term Loan | Prime plus 2.75% | 10/28/2025 | 77.0 | 70.6 | 60.8 | 0.03 | % | ||||||||||||||
| ^Windsor Direct Distribution LLC | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 10/26/2025 | 14.3 | 13.0 | 11.0 | 0.01 | % | ||||||||||||||
| ^Financial Network Recovery | Administrative and Support Services | Term Loan | Prime plus 2.75% | 10/26/2025 | 40.0 | 36.8 | 30.9 | 0.01 | % | ||||||||||||||
| ^Insurance Fire & Water Restorations, LLC | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 10/23/2025 | 22.5 | 20.7 | 19.6 | 0.01 | % | ||||||||||||||
| ^Jacksonville Beauty Institute Inc. | Educational Services | Term Loan | Prime plus 2.75% | 10/23/2025 | 50.0 | 45.9 | 38.6 | 0.02 | % | ||||||||||||||
| ^Werthan Packaging Inc. | Paper Manufacturing | Term Loan | Prime plus 2.75% | 10/14/2025 | 1,162.5 | 1,104.0 | 1,030.3 | 0.49 | % | ||||||||||||||
| ^Tannehill Enterprises Inc dba Hobbytown USA Folsom | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 10/14/2025 | 87.4 | 80.2 | 67.5 | 0.03 | % | ||||||||||||||
| ^ADMO Inc dba Mid States Equipment | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 10/8/2025 | 22.5 | 20.7 | 17.9 | 0.01 | % | ||||||||||||||
| ^SCJEN Management Inc dba Bowl of Heaven | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/30/2025 | 71.3 | 65.7 | 55.2 | 0.03 | % | ||||||||||||||
| ^Naeem Khan LTD | Apparel Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2025 | 125.0 | 114.0 | 95.8 | 0.05 | % | ||||||||||||||
| ^Accent Homes Services LLC dba Benjamin Franklin Plumbing of Kansas City | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/30/2028 | 66.5 | 62.4 | 60.4 | 0.03 | % | ||||||||||||||
| ^Recycling Consultants, Inc. and Prairie State Salvage and Recycling | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/30/2027 | 767.5 | 714.8 | 643.3 | 0.31 | % | ||||||||||||||
| ^Barub Realty LLC and Barub LLC dba Woodlawn Cabinets | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 9/30/2040 | 143.0 | 140.0 | 143.9 | 0.07 | % | ||||||||||||||
| ^R.H. Hummer Jr., Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 9/30/2025 | 375.0 | 354.3 | 338.4 | 0.16 | % | ||||||||||||||
| ^Bat Bridge Investments Inc dba Kalologie 360 Spa | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/30/2025 | 85.5 | 79.5 | 66.8 | 0.03 | % | ||||||||||||||
| ^Binky's Vapes LLC | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 9/30/2025 | 22.5 | 20.5 | 17.2 | 0.01 | % | ||||||||||||||
| ^Joyce Outdoor Advertising LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/29/2040 | 234.8 | 231.0 | 235.0 | 0.11 | % | ||||||||||||||
| ^Greensward of Marco Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/28/2040 | 87.5 | 85.7 | 84.4 | 0.04 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^RIM Investments LLC and RIM Architects LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/28/2040 | 399.0 | 390.7 | 383.0 | 0.18 | % | ||||||||||||||
| ^The Grasso Companies LLC and Grasso Pavement Maintenance LLC | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 9/28/2025 | 518.8 | 469.8 | 469.2 | 0.22 | % | ||||||||||||||
| ^South Towne Dental Center, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/25/2025 | 50.0 | 45.6 | 45.7 | 0.02 | % | ||||||||||||||
| ^Hemingway Custom Cabinetry LLC | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 9/25/2025 | 220.0 | 200.6 | 172.8 | 0.08 | % | ||||||||||||||
| ^Daniel W. Stark dba Mountain Valley Lodge and RV Park | Accommodation | Term Loan | Prime plus 2.75% | 9/25/2040 | 13.5 | 13.2 | 13.6 | 0.01 | % | ||||||||||||||
| ^Sandlot Ventures LLC and Sandbox Ventures LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/25/2040 | 442.5 | 433.9 | 418.9 | 0.20 | % | ||||||||||||||
| ^Yachting Solutions LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 9/25/2040 | 962.5 | 942.4 | 908.0 | 0.43 | % | ||||||||||||||
| ^Prestigious LifeCare for Seniors LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/25/2025 | 9.8 | 9.0 | 8.2 | — | % | ||||||||||||||
| ^St Lawrence Hotel Corp and Oheka Catering Inc dba Quality Inn | Accommodation | Term Loan | Prime plus 2.75% | 9/24/2040 | 625.0 | 611.9 | 608.5 | 0.29 | % | ||||||||||||||
| ^Hagerstown Muffler, Inc. and JMS Muffler, Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/24/2040 | 327.5 | 320.7 | 331.0 | 0.16 | % | ||||||||||||||
| ^J.R. Wheeler Corporation dba Structurz Exhibits and Graphics | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 10/24/2025 | 21.0 | 19.2 | 19.2 | 0.01 | % | ||||||||||||||
| ^Rutledge Enterprises Inc dba BLC Property Management | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/23/2040 | 62.5 | 60.7 | 60.4 | 0.03 | % | ||||||||||||||
| ^Finish Strong Inc dba FASTSIGNS St Peters | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 9/23/2025 | 50.0 | 45.6 | 38.3 | 0.02 | % | ||||||||||||||
| ^J3K LLC dba Ronan True Value Hardware | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 9/23/2025 | 152.5 | 139.1 | 116.9 | 0.06 | % | ||||||||||||||
| ^Stormrider Inc dba Shirley's Stormrider Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 9/23/2025 | 67.5 | 62.6 | 52.6 | 0.03 | % | ||||||||||||||
| ^Frozen Treats of Hollywood FL, LLC dba Sub Zero Ice Cream | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/22/2025 | 15.8 | 14.4 | 12.8 | 0.01 | % | ||||||||||||||
| ^Nova Solutions Inc | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 9/22/2040 | 320.0 | 313.3 | 311.9 | 0.15 | % | ||||||||||||||
| ^Pine Belt Wood Products LLC | Forestry and Logging | Term Loan | Prime plus 2.75% | 9/22/2040 | 163.8 | 160.3 | 146.9 | 0.07 | % | ||||||||||||||
| ^IIoka Inc dba New Cloud Networks | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/21/2025 | 665.0 | 609.3 | 512.1 | 0.24 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Sound Manufacturing Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/21/2025 | 50.0 | 45.6 | 40.6 | 0.02 | % | ||||||||||||||
| ^MiJoy Inc dba Imo's Pizza | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/18/2025 | 8.3 | 7.5 | 6.3 | — | % | ||||||||||||||
| ^Vanderhoof LLC dba Soxfords | Apparel Manufacturing | Term Loan | Prime plus 2.75% | 9/18/2025 | 15.9 | 14.5 | 12.2 | 0.01 | % | ||||||||||||||
| ^Naeem Khan LTD | Apparel Manufacturing | Term Loan | Prime plus 2.75% | 9/17/2025 | 125.0 | 114.0 | 95.8 | 0.05 | % | ||||||||||||||
| ^Import Car Connection Inc dba Car Connection | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 9/16/2040 | 407.5 | 399.0 | 406.5 | 0.19 | % | ||||||||||||||
| ^FirstVitals Health and Wellness Inc | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/15/2025 | 150.0 | 136.8 | 114.9 | 0.05 | % | ||||||||||||||
| ^Johnson Carwash LLC and Johnson Petroleum LLC | Gasoline Stations | Term Loan | Prime plus 2.75% | 9/14/2040 | 340.0 | 334.8 | 345.1 | 0.17 | % | ||||||||||||||
| ^Almost Home Daycare LLC | Social Assistance | Term Loan | Prime plus 2.75% | 9/11/2025 | 62.5 | 57.0 | 56.3 | 0.03 | % | ||||||||||||||
| ^Veliu LLC dba FASTSIGNS #15901 | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 9/10/2025 | 50.0 | 46.2 | 40.0 | 0.02 | % | ||||||||||||||
| ^B and A Friction Materials Inc | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/9/2025 | 102.5 | 92.7 | 77.9 | 0.04 | % | ||||||||||||||
| ^Gardner's Wharf Holdings LLC and Gardner's Wharf Seafood Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 9/8/2040 | 140.0 | 137.1 | 141.5 | 0.07 | % | ||||||||||||||
| ^AIG Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/4/2040 | 363.8 | 356.1 | 338.8 | 0.16 | % | ||||||||||||||
| ^Empower Autism Academy | Social Assistance | Term Loan | Prime plus 2.75% | 9/4/2040 | 685.0 | 670.7 | 692.4 | 0.33 | % | ||||||||||||||
| ^Higher Grounds Community Coffeehouse, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/2/2025 | 8.3 | 7.5 | 6.6 | — | % | ||||||||||||||
| ^Delray Scrap Recycling LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 8/31/2025 | 22.5 | 20.1 | 16.9 | 0.01 | % | ||||||||||||||
| ^The Camera House Inc | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 8/31/2025 | 1,250.0 | 1,131.6 | 1,036.9 | 0.50 | % | ||||||||||||||
| ^LAN Doctors Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/28/2025 | 81.3 | 73.6 | 66.8 | 0.03 | % | ||||||||||||||
| ^Elite Institute LLC dba Huntington Learning Center | Educational Services | Term Loan | Prime plus 2.75% | 8/28/2025 | 15.0 | 13.7 | 11.6 | 0.01 | % | ||||||||||||||
| ^Zephyr Seven Series LLC dba 18/8 Fine Men's Salon | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 8/28/2025 | 81.3 | 76.2 | 65.7 | 0.03 | % | ||||||||||||||
| ^J and K Fitness L.L.C. dba Physiques Womens Fitness Center | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/28/2041 | 93.8 | 92.7 | 93.5 | 0.04 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Trading Group 3 Inc | Nonstore Retailers | Term Loan | Prime plus 2.75% | 8/28/2025 | 50.0 | 45.3 | 38.0 | 0.02 | % | ||||||||||||||
| ^B and J Catering Inc dba Culinary Solutions | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/27/2040 | 547.5 | 540.3 | 523.4 | 0.25 | % | ||||||||||||||
| ^God Be Glorified Inc dba GBG Inc | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 8/20/2025 | 53.0 | 48.0 | 40.3 | 0.02 | % | ||||||||||||||
| ^3000 CSI Property LLC and Consulting Solutions Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/20/2040 | 137.5 | 134.4 | 136.7 | 0.07 | % | ||||||||||||||
| ^GDP Gourmet LLC dba Joe and John's Pizza Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/19/2040 | 145.0 | 141.7 | 140.1 | 0.07 | % | ||||||||||||||
| ^Screenmobile Management Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 8/14/2025 | 47.0 | 42.5 | 36.1 | 0.02 | % | ||||||||||||||
| ^Gold Jet Corp. | Couriers and Messengers | Term Loan | Prime plus 2.75% | 8/14/2025 | 68.3 | 65.3 | 59.2 | 0.03 | % | ||||||||||||||
| ^SKJ Inc dba Subway | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/13/2025 | 84.8 | 76.8 | 65.5 | 0.03 | % | ||||||||||||||
| ^LP Industries Inc dba Childforms | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 7/29/2025 | 125.0 | 114.5 | 107.0 | 0.05 | % | ||||||||||||||
| ^Advanced Machine & Technology, Inc. | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 7/29/2025 | 90.3 | 81.1 | 74.8 | 0.04 | % | ||||||||||||||
| ^Pauley Tree and Lawn Care Inc | Administrative and Support Services | Term Loan | Prime plus 2.75% | 7/28/2025 | 65.8 | 59.2 | 53.0 | 0.03 | % | ||||||||||||||
| ^Beale Street Blues Company-West Palm Beach LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 7/24/2025 | 66.3 | 59.5 | 52.2 | 0.02 | % | ||||||||||||||
| ^Forever & Always of Naples Inc dba Island Animal Hospital | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/24/2025 | 107.5 | 96.6 | 88.0 | 0.04 | % | ||||||||||||||
| ^C& D Medical of Naples, Inc and Forever & Always of Naples, Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/24/2040 | 135.0 | 131.8 | 123.2 | 0.06 | % | ||||||||||||||
| ^Pooh's Corner Realty LLC and Pooh's Corner Inc | Social Assistance | Term Loan | Prime plus 2.75% | 7/23/2040 | 103.8 | 101.4 | 103.8 | 0.05 | % | ||||||||||||||
| ^Smart Artists Inc. | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 7/23/2025 | 22.5 | 20.2 | 17.0 | 0.01 | % | ||||||||||||||
| ^Free Ion Advisors LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 7/21/2025 | 64.3 | 57.7 | 48.5 | 0.02 | % | ||||||||||||||
| ^Murrayville Donuts, Inc dba Dunkin' Donuts | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 7/15/2040 | 344.5 | 340.4 | 329.4 | 0.16 | % | ||||||||||||||
| ^Union 2 LLC dba The Standard | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/10/2025 | 91.5 | 85.9 | 79.1 | 0.04 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^The Smile Place LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/30/2040 | 283.9 | 276.6 | 282.4 | 0.14 | % | ||||||||||||||
| ^BJ's Tavern LLC and BJ's Cabana Bar Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2040 | 212.5 | 207.1 | 210.9 | 0.10 | % | ||||||||||||||
| ^Jonathan E Nichols and Nichols Fire and Security LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/30/2025 | 75.0 | 66.9 | 65.2 | 0.03 | % | ||||||||||||||
| ^Thrifty Market, Inc. dba Thrifty Foods | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/30/2030 | 262.5 | 246.5 | 231.3 | 0.11 | % | ||||||||||||||
| ^All About Smiles P A | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/30/2040 | 237.7 | 231.6 | 236.4 | 0.11 | % | ||||||||||||||
| ^Danny V, LLC dba Hugo's Taproom | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2040 | 54.0 | 50.1 | 49.0 | 0.02 | % | ||||||||||||||
| ^Anglin Cultured Stone Products LLC dba Anglin Construction | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/30/2025 | 281.8 | 251.3 | 232.6 | 0.11 | % | ||||||||||||||
| ^Advanced Skincare Medcenter Inc dba Advanced Skincare Surgery | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/29/2025 | 337.5 | 301.0 | 273.0 | 0.13 | % | ||||||||||||||
| ^Summit Beverage Group LLC | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 8/29/2030 | 291.9 | 274.4 | 261.4 | 0.13 | % | ||||||||||||||
| ^Myclean Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/29/2025 | 15.9 | 14.2 | 12.7 | 0.01 | % | ||||||||||||||
| ^E & G Enterprises LLC dba Comfort Keepers | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/26/2025 | 22.5 | 20.1 | 18.0 | 0.01 | % | ||||||||||||||
| ^SofRep, Inc dba Force 12 Media | Other Information Services | Term Loan | Prime plus 2.75% | 6/26/2025 | 66.3 | 59.1 | 52.9 | 0.03 | % | ||||||||||||||
| ^Jihan Inc dba ARCO AM/PM and Diana Inc dba Diana's Recycling | Gasoline Stations | Term Loan | Prime plus 2.75% | 6/26/2040 | 380.0 | 370.3 | 374.9 | 0.18 | % | ||||||||||||||
| ^TJU-DGT Inc dba The Lorenz Cafe | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/26/2029 | 20.6 | 19.2 | 19.5 | 0.01 | % | ||||||||||||||
| ^CEM Autobody LLC dba Dawn's Autobody | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/26/2040 | 135.5 | 132.0 | 132.6 | 0.06 | % | ||||||||||||||
| ^Wolf Enviro Interests, LLC and Enviromax Services Inc | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/25/2040 | 246.5 | 240.2 | 234.0 | 0.11 | % | ||||||||||||||
| ^Ohs Auto Body, Inc. dba Ohs Body Shop | Repair and Maintenance | Term Loan | 7.28% | 6/25/2040 | 1,207.5 | 1,187.4 | 1,190.9 | 0.57 | % | ||||||||||||||
| ^Evinger PA One, Inc. dba Postal Annex, Falcon | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 6/24/2025 | 22.5 | 20.1 | 18.8 | 0.01 | % | ||||||||||||||
| ^Amboy Group, LLC dba Tommy's Moloney's | Food Manufacturing | Term Loan | Prime plus 2.75% | 6/24/2025 | 454.0 | 406.2 | 410.1 | 0.20 | % | ||||||||||||||
| ^Richards Plumbing and Heating Co., Inc. dba Richards Mechanical | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/23/2040 | 551.8 | 537.6 | 561.8 | 0.27 | % | ||||||||||||||
| ^RJI Services, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/23/2025 | 22.5 | 19.9 | 17.8 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Real Help LLC dba Real Help Decorative Concrete | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/22/2025 | 53.1 | 47.4 | 47.1 | 0.02 | % | ||||||||||||||
| ^PM Cassidy Enterprises, Inc. dba Junk King | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 6/19/2025 | 14.9 | 13.3 | 11.9 | 0.01 | % | ||||||||||||||
| ^KRN Logistics, LLC,Newsome Trucking, Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 6/19/2025 | 543.5 | 484.8 | 458.5 | 0.22 | % | ||||||||||||||
| ^Inverted Healthcare Staffing of Florida LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/18/2025 | 61.3 | 54.7 | 49.0 | 0.02 | % | ||||||||||||||
| ^Square Deal Siding Company,LLC dba Square Deal Siding Company | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/18/2025 | 22.5 | 20.4 | 20.6 | 0.01 | % | ||||||||||||||
| ^Flooring Liquidators Inc and Flooring Liquidators of Mt Kisco LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/17/2025 | 437.5 | 390.2 | 390.4 | 0.19 | % | ||||||||||||||
| ^AM PM Properties, LLC and AM PM Willington, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/17/2040 | 87.1 | 84.6 | 87.5 | 0.04 | % | ||||||||||||||
| ^Nelson Sargsyan dba HDA Trucking | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 6/16/2025 | 130.5 | 117.0 | 104.7 | 0.05 | % | ||||||||||||||
| ^Mirage Plastering Inc and Mpire LLC and Mpire II LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 6/12/2040 | 338.8 | 135.2 | 128.3 | 0.06 | % | ||||||||||||||
| ^Bizzare Foods Inc dba Trooper Foods | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 6/12/2025 | 125.0 | 108.7 | 97.3 | 0.05 | % | ||||||||||||||
| ^Anturio Marketing Inc dba Logic Consulting | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/12/2040 | 290.3 | 282.8 | 295.5 | 0.14 | % | ||||||||||||||
| ^Eldredge Tavern LLC dba Gonyea's Tavern | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/8/2040 | 56.3 | 54.8 | 57.3 | 0.03 | % | ||||||||||||||
| ^Nicor LLC dba Fibrenew Sacramento | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/5/2022 | 13.8 | 11.4 | 10.2 | — | % | ||||||||||||||
| ^Chitalian Fratelli LLC dba Francesca Brick Oven Pizza and Pasta | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/5/2025 | 16.1 | 14.0 | 12.5 | 0.01 | % | ||||||||||||||
| ^ViAr Visual Communications, Inc. dba Fastsigns 281701 | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 6/5/2025 | 62.0 | 55.3 | 50.4 | 0.02 | % | ||||||||||||||
| ^Video Vault & Tanning LLC and Mosaic Salon LLC | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 6/4/2040 | 90.5 | 88.4 | 92.3 | 0.04 | % | ||||||||||||||
| ^Medworxs LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/3/2025 | 125.0 | 111.5 | 100.4 | 0.05 | % | ||||||||||||||
| ^DTM Parts Supply Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 6/2/2025 | 62.8 | 56.0 | 50.1 | 0.02 | % | ||||||||||||||
| ^XCESSIVE THROTTLE, INC dba Jake's Roadhouse | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/29/2025 | 8.3 | 7.3 | 6.5 | — | % | ||||||||||||||
| ^God is Good LLC dba BurgerFi | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/27/2025 | 67.3 | 16.6 | 16.7 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Villela CPA PL | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 5/27/2025 | 9.0 | 8.0 | 7.3 | — | % | ||||||||||||||
| ^Pen Tex Inc dba The UPS Store | Administrative and Support Services | Term Loan | Prime plus 2.75% | 5/20/2025 | 22.0 | 19.5 | 17.5 | 0.01 | % | ||||||||||||||
| ^Douglas Posey and Sally Watkinson dba Audrey's Farmhouse | Accommodation | Term Loan | Prime plus 2.75% | 5/20/2040 | 174.1 | 169.4 | 173.9 | 0.08 | % | ||||||||||||||
| ^Capstone Pediatrics PLLC and Capstone Healthcare Consulting LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 5/15/2025 | 717.3 | 638.0 | 581.7 | 0.28 | % | ||||||||||||||
| ^15 McArdle LLC and No Other Impressions Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 5/15/2040 | 257.1 | 250.1 | 247.5 | 0.12 | % | ||||||||||||||
| ^E-Z Box Storage, Inc. | Real Estate | Term Loan | Prime plus 2.75% | 5/11/2025 | 89.3 | 73.3 | 74.0 | 0.04 | % | ||||||||||||||
| ^Guard Dogs MFS LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/8/2025 | 65.0 | 57.5 | 51.8 | 0.02 | % | ||||||||||||||
| ^George S Cochran DDS Inc | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 5/7/2025 | 130.0 | 115.5 | 103.6 | 0.05 | % | ||||||||||||||
| ^South Park Properties LLC and Midlothian Hardware LLC | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 5/6/2040 | 170.5 | 164.8 | 172.1 | 0.08 | % | ||||||||||||||
| ^Matthew Taylor and Landon Farm LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 5/4/2040 | 100.0 | 98.0 | 93.7 | 0.04 | % | ||||||||||||||
| ^Cares Inc dba Dumpling Grounds Day Care Center | Social Assistance | Term Loan | Prime plus 2.75% | 5/1/2040 | 81.9 | 78.8 | 82.4 | 0.04 | % | ||||||||||||||
| ^RDRhonehouse ENT. LLC dba Chill Skinz | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 4/29/2025 | 88.9 | 79.8 | 71.5 | 0.03 | % | ||||||||||||||
| ^Orchid Enterprises Inc dba Assisting Hands of Sussex County | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 4/24/2025 | 15.0 | 13.2 | 11.8 | 0.01 | % | ||||||||||||||
| ^Ragazza Restaurant Group, Inc. dba Bambolina | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/21/2025 | 22.5 | 19.8 | 18.3 | 0.01 | % | ||||||||||||||
| ^Diamond Solutions LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 4/21/2025 | 22.5 | 19.3 | 17.3 | 0.01 | % | ||||||||||||||
| ^Giacchino Maritime Consultants Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 4/17/2025 | 22.5 | 19.8 | 17.7 | 0.01 | % | ||||||||||||||
| ^Sound Coaching Inc | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 4/14/2025 | 44.4 | 39.0 | 34.9 | 0.02 | % | ||||||||||||||
| ^Carolina Beefs, LLC dba Beef O'Brady's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/13/2025 | 19.5 | 17.1 | 15.3 | 0.01 | % | ||||||||||||||
| ^Faramarz Nikourazm dba Car Clinic Center | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/3/2040 | 73.8 | 71.5 | 72.3 | 0.03 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Advance Case Parts RE Holdings LLC and Advance Case Parts Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/31/2040 | 758.3 | 737.4 | 723.8 | 0.35 | % | ||||||||||||||
| ^T and B Boots Inc dba Takkens | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 3/31/2025 | 807.8 | 705.6 | 688.1 | 0.33 | % | ||||||||||||||
| ^HAVANA CENTRAL NJ1, LLC dba Havana Central | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/31/2025 | 250.0 | 225.0 | 225.6 | 0.11 | % | ||||||||||||||
| ^Mid-South Lumber Co. of Northwest Florida, Inc. | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 3/31/2040 | 428.8 | 415.7 | 406.4 | 0.19 | % | ||||||||||||||
| ^Copper Beech Financial Group LLC | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 3/30/2025 | 125.0 | 109.0 | 103.4 | 0.05 | % | ||||||||||||||
| ^Delta Aggregate LLC | Mining (except Oil and Gas) | Term Loan | Prime plus 2.75% | 3/30/2025 | 90.0 | 83.7 | 84.5 | 0.04 | % | ||||||||||||||
| ^Sunset Marine Resort LLC and GoXpeditions LLC | Accommodation | Term Loan | Prime plus 2.75% | 3/27/2040 | 301.8 | 292.6 | 305.6 | 0.15 | % | ||||||||||||||
| ^Shorr Enterprises Inc dba New Design Furniture Manufacturers | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 3/27/2025 | 106.5 | 92.9 | 89.1 | 0.04 | % | ||||||||||||||
| ^South Florida Air Conditioning and Refrigeration Corp. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/27/2040 | 155.5 | 150.8 | 155.8 | 0.07 | % | ||||||||||||||
| ^Shellhorn and Hill Inc dba Total Fleet Service | Nonstore Retailers | Term Loan | Prime plus 2.75% | 3/27/2040 | 1,040.3 | 1,004.8 | 982.4 | 0.47 | % | ||||||||||||||
| ^Foresite Realty Partners LLC and Foresite Real Estate Holdings LLC | Real Estate | Term Loan | Prime plus 2.75% | 3/27/2025 | 1,238.3 | 1,079.5 | 965.3 | 0.46 | % | ||||||||||||||
| ^Geo Los Angeles LLC dba Geo Film Group | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 3/26/2025 | 130.0 | 113.4 | 108.2 | 0.05 | % | ||||||||||||||
| ^Joyce Outdoor Advertising NJ LLC and Joyce Outdoor Advertising LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/26/2040 | 54.0 | 52.4 | 54.2 | 0.03 | % | ||||||||||||||
| ^Zero-In Media Inc | Data Processing, Hosting, and Related Services | Term Loan | Prime plus 2.75% | 3/25/2025 | 22.5 | 19.6 | 17.5 | 0.01 | % | ||||||||||||||
| ^Carpet Exchange of North Texas Inc and Clyde E. Cumbie Jr | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 3/25/2040 | 810.0 | 785.4 | 816.3 | 0.39 | % | ||||||||||||||
| ^Loriet LLC | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 3/24/2025 | 12.0 | 10.5 | 9.4 | — | % | ||||||||||||||
| ^Shelton Incorporated dba Mrs. Winners | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/20/2040 | 112.5 | 109.1 | 113.6 | 0.05 | % | ||||||||||||||
| ^Jaymie Hazard dba Indigo Hair Studio and Day Spa | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/20/2040 | 42.9 | 41.6 | 41.9 | 0.02 | % | ||||||||||||||
| ^R & R Security and Investigations Inc dba Pardners Lake Buchanan | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/19/2040 | 85.4 | 82.9 | 86.5 | 0.04 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^MMS Realty, LLC and Molecular MS Diagnostics LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/18/2040 | 160.7 | 155.8 | 156.1 | 0.07 | % | ||||||||||||||
| ^Royal Crest Motors LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 3/16/2040 | 91.3 | 88.5 | 89.8 | 0.04 | % | ||||||||||||||
| ^BND Sebastian Limited Liability Company and Sebastian Fitness | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/16/2040 | 172.5 | 167.3 | 171.6 | 0.08 | % | ||||||||||||||
| ^Douglas Printy Motorsports, Inc. dba Blackburn Trike | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 3/9/2040 | 191.8 | 185.9 | 186.2 | 0.09 | % | ||||||||||||||
| ^Luigi's on Main LLC and Luigi's Main Street Pizza Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/4/2025 | 11.3 | 9.8 | 9.9 | — | % | ||||||||||||||
| ^Calhoun Satellite Communications Inc and Transmission Solutions Group | Broadcasting (except Internet) | Term Loan | Prime plus 2.75% | 2/27/2025 | 952.8 | 825.3 | 763.2 | 0.37 | % | ||||||||||||||
| ^Road to Sedona Inc dba Thirteen | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/27/2025 | 56.6 | 49.0 | 44.3 | 0.02 | % | ||||||||||||||
| ^Baystate Firearms and Training, LLC | Educational Services | Term Loan | Prime plus 2.75% | 2/27/2025 | 63.4 | 54.7 | 49.3 | 0.02 | % | ||||||||||||||
| ^Kingseal LLC dba Desoto Health and Rehab Center | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 2/26/2040 | 1,250.0 | 1,210.1 | 1,263.9 | 0.60 | % | ||||||||||||||
| ^Pace Motor Lines, Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 2/26/2025 | 66.2 | 57.3 | 57.8 | 0.03 | % | ||||||||||||||
| ^Nelson Financial Services LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 2/24/2025 | 12.5 | 10.8 | 9.6 | — | % | ||||||||||||||
| ^Kiddie Steps 4 You Inc. | Social Assistance | Term Loan | Prime plus 2.75% | 2/19/2040 | 61.8 | 59.7 | 59.6 | 0.03 | % | ||||||||||||||
| ^Triangle Trash LLC dba Bin There Dump That | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 2/18/2025 | 74.4 | 64.3 | 60.6 | 0.03 | % | ||||||||||||||
| ^Silva Realty Holdings, LLC and MF-Silva Enterprises, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/11/2040 | 171.6 | 166.3 | 166.0 | 0.08 | % | ||||||||||||||
| ^740 Barry Street Realty LLC and Wild Edibles Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 2/10/2040 | 492.5 | 476.7 | 498.0 | 0.24 | % | ||||||||||||||
| ^Kostekos Inc dba New York Style Pizza | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/6/2040 | 66.3 | 64.1 | 64.8 | 0.03 | % | ||||||||||||||
| ^DuCharme Realty LLC and DuCharme Enterprises LLC | Wood Product Manufacturing | Term Loan | Prime plus 2.75% | 2/2/2040 | 225.1 | 217.9 | 215.7 | 0.10 | % | ||||||||||||||
| ^Limameno LLC dba Sal's Italian Ristorante | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/23/2025 | 83.3 | 71.4 | 65.4 | 0.03 | % | ||||||||||||||
| ^Palmabak Inc dba Mami Nora's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/22/2025 | 21.5 | 15.9 | 16.1 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Jung Design Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 1/20/2022 | 8.4 | 6.5 | 5.8 | — | % | ||||||||||||||
| ^Grand Blanc Lanes, Inc. and H, H and H, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/31/2039 | 133.0 | 128.5 | 133.0 | 0.06 | % | ||||||||||||||
| ^Bear Creek Entertainment, LLC dba The Woods at Bear Creek | Accommodation | Term Loan | Prime plus 2.75% | 12/30/2024 | 106.3 | 90.7 | 91.4 | 0.04 | % | ||||||||||||||
| ^Evans and Paul LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 12/30/2024 | 223.8 | 190.5 | 188.1 | 0.09 | % | ||||||||||||||
| ^FHJE Ventures LLC and Eisenreich II Inc dba Breakneck Tavern | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/30/2039 | 245.5 | 238.2 | 234.6 | 0.11 | % | ||||||||||||||
| ^First Prevention and Dialysis Center, LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/30/2024 | 273.3 | 248.4 | 241.4 | 0.12 | % | ||||||||||||||
| ^Bowlerama Inc | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/24/2039 | 1,202.5 | 1,161.9 | 1,213.0 | 0.58 | % | ||||||||||||||
| ^401 JJS Corporation and G. Randazzo Corporation | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/23/2039 | 473.5 | 460.9 | 473.5 | 0.23 | % | ||||||||||||||
| ^The Lodin Group LLC and Lodin Health Imaging Inc dba Highlands Breast | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/23/2039 | 530.3 | 511.6 | 500.9 | 0.24 | % | ||||||||||||||
| ^Thermoplastic Services Inc and Paragon Plastic Sheet, Inc | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 12/23/2039 | 500.0 | 482.4 | 503.6 | 0.24 | % | ||||||||||||||
| ^Carolina Flicks Inc dba The Howell Theater | Motion Picture and Sound Recording Industries | Term Loan | Prime plus 2.75% | 12/23/2032 | 163.3 | 153.0 | 151.0 | 0.07 | % | ||||||||||||||
| ^Atlantis of Daytona LLC and Ocean Club Sportswear Inc | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 12/23/2039 | 240.0 | 214.8 | 224.3 | 0.11 | % | ||||||||||||||
| ^Beale Street Blues Company-West Palm Beach, LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 12/22/2024 | 187.5 | 159.6 | 148.4 | 0.07 | % | ||||||||||||||
| ^MM and M Management Inc dba Pizza Artista | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/19/2025 | 46.3 | 40.4 | 36.7 | 0.02 | % | ||||||||||||||
| ^The Jewelers Inc. dba The Jewelers of Las Vegas | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 12/19/2024 | 1,250.0 | 1,063.3 | 959.5 | 0.46 | % | ||||||||||||||
| ^B.S. Ventures LLC dba Dink's Market | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/19/2039 | 53.8 | 51.9 | 54.1 | 0.03 | % | ||||||||||||||
| ^B & W Towing, LLC and Boychucks Fuel LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/17/2039 | 164.5 | 160.0 | 159.4 | 0.08 | % | ||||||||||||||
| ^All American Games, LLC and Sportslink - The Game, LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 12/10/2024 | 400.0 | 340.4 | 318.1 | 0.15 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Kemmer LLC and Apples Tree Top Liquors LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/4/2039 | 138.4 | 133.5 | 131.8 | 0.06 | % | ||||||||||||||
| ^Trading Group 3, Inc. | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 11/26/2024 | 22.5 | 19.0 | 17.0 | 0.01 | % | ||||||||||||||
| ^The Red Pill Management, Inc. dba UFC Gym Matthews | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 11/26/2024 | 54.3 | 46.6 | 43.2 | 0.02 | % | ||||||||||||||
| ^Teamnewman Enterprises LLC dba Newmans at 988 and John H. Newman | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/25/2039 | 148.8 | 143.3 | 143.9 | 0.07 | % | ||||||||||||||
| ^DeRidder Chiropractic LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/25/2024 | 13.2 | 11.1 | 11.2 | 0.01 | % | ||||||||||||||
| ^Modern Manhattan LLC | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 11/25/2024 | 220.0 | 185.8 | 167.8 | 0.08 | % | ||||||||||||||
| ^Stormrider Inc dba Shirley's Stormrider, Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 11/25/2024 | 150.0 | 129.1 | 115.3 | 0.06 | % | ||||||||||||||
| ^Meridian Hotels, LLC dba Best Western Jonesboro | Accommodation | Term Loan | Prime plus 2.75% | 11/25/2039 | 228.0 | 220.6 | 230.3 | 0.11 | % | ||||||||||||||
| ^Legacy Estate Planning Inc dba American Casket Enterprises | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/21/2024 | 42.0 | 35.5 | 31.7 | 0.02 | % | ||||||||||||||
| ^J&D Resources, LLC dba Aqua Science | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/21/2024 | 767.9 | 641.4 | 582.5 | 0.28 | % | ||||||||||||||
| ^DC Real LLC and DC Enterprises LTD dba Lakeview True Value | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 11/20/2039 | 119.4 | 115.5 | 118.5 | 0.06 | % | ||||||||||||||
| ^MLM Enterprises LLC and Demand Printing Solutions Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 11/18/2024 | 70.5 | 59.5 | 57.5 | 0.03 | % | ||||||||||||||
| ^JEJE Realty LLC and La Familia Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/10/2039 | 205.8 | 197.1 | 198.2 | 0.09 | % | ||||||||||||||
| ^Joey O's LLC and Jennifer Olszewski | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/7/2024 | 13.1 | 0.9 | 0.8 | — | % | ||||||||||||||
| ^Heartland American Properties LLC and Skaggs RV Outlet LLC | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 10/31/2039 | 479.0 | 460.6 | 471.0 | 0.23 | % | ||||||||||||||
| ^Golden Transaction Corporation dba Bleh Sunoco | Gasoline Stations | Term Loan | Prime plus 2.75% | 10/30/2039 | 156.7 | 150.7 | 155.4 | 0.07 | % | ||||||||||||||
| ^Seelan Inc dba Candleridge Market | Gasoline Stations | Term Loan | Prime plus 2.75% | 10/27/2039 | 90.5 | 87.0 | 87.3 | 0.04 | % | ||||||||||||||
| ^185 Summerfield Inc and Valcon Contracting Corp | Construction of Buildings | Term Loan | Prime plus 2.75% | 10/24/2039 | 162.3 | 156.0 | 160.5 | 0.08 | % | ||||||||||||||
| ^Navdeep B Martins and Busy Bubbles LLC dba Wishy Washy | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 10/24/2039 | 89.0 | 85.7 | 84.6 | 0.04 | % | ||||||||||||||
| ^3 F Management LLC and ATC Port Charlotte LLC dba Around The Clock Fitness | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 10/17/2024 | 131.3 | 109.9 | 102.5 | 0.05 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^One Hour Jewelry Repair Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/14/2024 | 20.6 | 17.2 | 15.4 | 0.01 | % | ||||||||||||||
| ^DNT Storage and Properties LLC | Real Estate | Term Loan | Prime plus 2.75% | 10/10/2039 | 101.8 | 97.8 | 101.0 | 0.05 | % | ||||||||||||||
| ^Capitol Waste and Recycling Services LLC | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 10/10/2024 | 257.8 | 215.8 | 202.7 | 0.10 | % | ||||||||||||||
| ^Sound Manufacturing Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 10/10/2024 | 187.5 | 157.1 | 145.6 | 0.07 | % | ||||||||||||||
| ^Return to Excellence, Inc. dba The Waynesville Inn Golf & Spa | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 10/10/2039 | 1,250.0 | 1,216.5 | 1,270.0 | 0.61 | % | ||||||||||||||
| ^Boilermaker Industries LLC dba PostNet | Administrative and Support Services | Term Loan | Prime plus 2.75% | 10/9/2024 | 18.8 | 5.7 | 5.8 | — | % | ||||||||||||||
| ^Smith Spinal Care Center P.C. and James C. Smith | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 10/8/2039 | 60.0 | 57.7 | 58.8 | 0.03 | % | ||||||||||||||
| ^Doctors Express Management of Central Texas LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 10/8/2024 | 105.0 | 77.8 | 76.5 | 0.04 | % | ||||||||||||||
| ^Michael Rey Jr. and Lynn J. Williams and GIG Petcare dba Hickory | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 10/3/2039 | 126.9 | 120.2 | 123.6 | 0.06 | % | ||||||||||||||
| ^Sumad LLC dba BrightStar Care of Encinitas | Administrative and Support Services | Term Loan | Prime plus 2.75% | 10/2/2024 | 92.5 | 44.5 | 44.9 | 0.02 | % | ||||||||||||||
| ^Roccos LLC and Sullo Pantalone Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/30/2039 | 255.8 | 245.5 | 244.8 | 0.12 | % | ||||||||||||||
| ^Keller Holdings LLC and David H Keller III and Carie C Keller | Scenic and Sightseeing Transportation | Term Loan | Prime plus 2.75% | 9/30/2039 | 100.0 | 96.0 | 99.7 | 0.05 | % | ||||||||||||||
| ^Orange County Insurance Brokerage Inc dba Beaty Insurance Agency | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 9/29/2039 | 325.1 | 313.1 | 326.7 | 0.16 | % | ||||||||||||||
| ^The Woods at Bear Creek LLC and Bear Creek Entertainment LLC | Accommodation | Term Loan | Prime plus 2.75% | 9/29/2039 | 513.3 | 495.1 | 516.6 | 0.25 | % | ||||||||||||||
| ^Keys Phase One LLC dba The Grand Guesthouse | Accommodation | Term Loan | Prime plus 2.75% | 9/26/2039 | 736.3 | 706.7 | 725.2 | 0.35 | % | ||||||||||||||
| ^Gordon E Rogers dba Stonehouse Motor Inn | Accommodation | Term Loan | Prime plus 2.75% | 9/26/2039 | 57.5 | 55.2 | 57.6 | 0.03 | % | ||||||||||||||
| ^Auto Shine Carwash Inc and AKM R. Hossain and Jessica F. Masud | Gasoline Stations | Term Loan | Prime plus 2.75% | 9/26/2024 | 22.5 | 18.7 | 17.2 | 0.01 | % | ||||||||||||||
| ^Colts V LLC and Nowatzke Service Center, Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/26/2039 | 601.8 | 578.6 | 591.7 | 0.28 | % | ||||||||||||||
| ^North Columbia LLC and Loop Liquor and Convenience Store LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/24/2039 | 159.3 | 152.9 | 156.6 | 0.07 | % | ||||||||||||||
| ^6 Price Avenue, LLC and Pauley Tree & Lawn Care, Inc | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/24/2039 | 452.5 | 435.8 | 422.4 | 0.20 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^R A Johnson Inc dba Rick Johnson Auto and Tire | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/23/2039 | 301.3 | 289.2 | 301.8 | 0.14 | % | ||||||||||||||
| ^Andrene's LLC dba Andrene's Caribbean Soul Food Carry Out | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/23/2024 | 37.8 | 29.5 | 26.4 | 0.01 | % | ||||||||||||||
| ^Play and Stay LLC dba Zoom Room Tinton Falls | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/18/2024 | 42.1 | 35.4 | 31.6 | 0.02 | % | ||||||||||||||
| ^Ryan Crick and Pamela J. Crick and Crick Enterprises Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/17/2039 | 145.5 | 139.7 | 145.7 | 0.07 | % | ||||||||||||||
| ^Modern Leather Goods Repair Shop Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/17/2024 | 58.8 | 48.3 | 43.2 | 0.02 | % | ||||||||||||||
| ^Tavern Properties LLC and Wildwood Tavern LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/15/2039 | 425.0 | 410.7 | 419.6 | 0.20 | % | ||||||||||||||
| ^RDT Enterprises LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 9/15/2027 | 162.8 | 143.6 | 143.5 | 0.07 | % | ||||||||||||||
| ^Animal Intrusion Prevention Systems Holding Company, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 9/15/2024 | 272.5 | 226.3 | 211.6 | 0.10 | % | ||||||||||||||
| ^KW Zion, LLC and Key West Gallery Inc | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 9/12/2039 | 1,250.0 | 1,199.9 | 1,230.5 | 0.59 | % | ||||||||||||||
| ^Indy East Smiles Youth Dentistry LLC dba Prime Smile East | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/11/2024 | 630.2 | 523.3 | 469.6 | 0.22 | % | ||||||||||||||
| ^B&P Diners LLC dba Engine House Restaurant | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/10/2024 | 80.0 | 66.4 | 59.3 | 0.03 | % | ||||||||||||||
| ^Feel The World Inc dba Xero Shoes and Invisible Shoes | Leather and Allied Product Manufacturing | Term Loan | Prime plus 2.75% | 9/5/2024 | 51.9 | 43.1 | 39.3 | 0.02 | % | ||||||||||||||
| ^Delta Aggregate LLC | Mining (except Oil and Gas) | Term Loan | Prime plus 2.75% | 8/28/2039 | 911.3 | 862.4 | 900.0 | 0.43 | % | ||||||||||||||
| ^Lamjam LLC, Goldsmith Lambros Inc | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 8/27/2024 | 133.8 | 110.4 | 111.2 | 0.05 | % | ||||||||||||||
| ^Orange County Cleaning Inc | Administrative and Support Services | Term Loan | Prime plus 2.75% | 8/27/2024 | 41.3 | 34.0 | 30.3 | 0.01 | % | ||||||||||||||
| ^Qycell Corporation | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 8/26/2024 | 121.0 | 99.7 | 94.5 | 0.05 | % | ||||||||||||||
| ^Atlas Auto Body Inc dba Atlas Auto Sales | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/22/2039 | 51.6 | 49.4 | 49.6 | 0.02 | % | ||||||||||||||
| ^Katie Senior Care LLC dba Home Instead Senior Care | Social Assistance | Term Loan | Prime plus 2.75% | 8/15/2024 | 124.3 | 102.3 | 91.3 | 0.04 | % | ||||||||||||||
| ^S&P Holdings of Daytona LLC S&P Corporation of Daytona Beach | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 8/15/2039 | 433.5 | 404.3 | 421.9 | 0.20 | % | ||||||||||||||
| ^Alpha Preparatory Academy LLC | Social Assistance | Term Loan | Prime plus 2.75% | 8/15/2039 | 145.2 | 139.7 | 145.8 | 0.07 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Almost Home Property LLC and Almost Home Daycare LLC | Social Assistance | Term Loan | Prime plus 2.75% | 8/7/2039 | 715.8 | 686.9 | 710.4 | 0.34 | % | ||||||||||||||
| ^AGV Enterprises LLC dba Jet's Pizza #42 | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/31/2024 | 54.8 | 44.8 | 40.8 | 0.02 | % | ||||||||||||||
| ^iFood, Inc. dba Steak N Shake | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/31/2024 | 379.1 | 321.6 | 304.2 | 0.15 | % | ||||||||||||||
| ^575 Columbus Avenue Holding Company, LLC and LA-ZE LLC dba EST EST EST | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/30/2039 | 22.5 | 21.2 | 22.1 | 0.01 | % | ||||||||||||||
| ^L&S Insurance & Financial Services Inc | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 7/25/2024 | 22.5 | 18.4 | 16.6 | 0.01 | % | ||||||||||||||
| ^Honeyspot Investors LLP and Pace Motor Lines Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 7/24/2039 | 150.0 | 143.6 | 149.5 | 0.07 | % | ||||||||||||||
| ^Miss Cranston Diner II, LLC and Miss Cranston II Realty LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/17/2039 | 100.0 | 96.6 | 98.4 | 0.05 | % | ||||||||||||||
| ^AMG Holding, LLC and Stetson Automotive, Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/30/2039 | 208.0 | 198.7 | 211.2 | 0.10 | % | ||||||||||||||
| ^Highway Striping Inc | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 6/30/2024 | 53.1 | 43.0 | 42.7 | 0.02 | % | ||||||||||||||
| ^Lisle Lincoln II Limited Partnership dba Lisle Lanes LP | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/30/2024 | 100.0 | 81.0 | 82.6 | 0.04 | % | ||||||||||||||
| ^Honeyspot Investors LLP and Pace Motor Lines Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 6/30/2039 | 875.3 | 837.8 | 890.1 | 0.43 | % | ||||||||||||||
| ^iFood, Inc. dba Steak N Shake | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2039 | 629.8 | 602.1 | 626.0 | 0.30 | % | ||||||||||||||
| ^FHJE Ventures LLC and Eisenreich II Inc. dba Breakneck Tavern | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/27/2039 | 321.8 | 307.3 | 324.1 | 0.16 | % | ||||||||||||||
| ^Zinger Hardware and General Merchant Inc | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 6/26/2024 | 110.5 | 89.4 | 89.9 | 0.04 | % | ||||||||||||||
| ^JPM Investments LLC and Carolina Family Foot Care P.A. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/26/2039 | 136.1 | 132.6 | 140.2 | 0.07 | % | ||||||||||||||
| ^Nikobella Properties LLC and JPO Inc dba Village Car Wash | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/25/2039 | 476.3 | 456.1 | 481.5 | 0.23 | % | ||||||||||||||
| ^Big Sky Plaza LLC and Strickland, Incorporated | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 6/20/2039 | 233.4 | 222.9 | 235.1 | 0.11 | % | ||||||||||||||
| ^510 ROK Realty LLC dba ROK Health and Fitness and Robert N. D'urso | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/19/2024 | 332.0 | 269.1 | 274.3 | 0.13 | % | ||||||||||||||
| ^Nirvi Enterprises LLC dba Howard Johnson / Knights Inn | Accommodation | Term Loan | Prime plus 2.75% | 6/17/2039 | 920.3 | 878.8 | 934.4 | 0.45 | % | ||||||||||||||
| ^Hotels of North Georgia LLC dba Comfort Inn and Suites | Accommodation | Term Loan | Prime plus 2.75% | 6/17/2039 | 837.5 | 799.8 | 850.4 | 0.41 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Global Educational Delivery Services LLC | Educational Services | Term Loan | Prime plus 2.75% | 6/16/2024 | 60.0 | 49.2 | 50.2 | 0.02 | % | ||||||||||||||
| ^Rainbow Dry Cleaners | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/13/2024 | 122.5 | 99.1 | 98.7 | 0.05 | % | ||||||||||||||
| ^NVR Corporation dba Discount Food Mart | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/11/2039 | 68.3 | 63.5 | 67.5 | 0.03 | % | ||||||||||||||
| ^Sico & Walsh Insurance Agency Inc and The AMS Trust | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 6/6/2039 | 250.0 | 89.2 | 94.9 | 0.05 | % | ||||||||||||||
| ^Sujata Inc dba Stop N Save Food Mart and Dhruvesh Patel | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/3/2024 | 22.5 | 18.2 | 18.1 | 0.01 | % | ||||||||||||||
| ^Long Island Barber + Beauty LLC | Educational Services | Term Loan | Prime plus 2.75% | 6/2/2039 | 55.5 | 53.0 | 55.7 | 0.03 | % | ||||||||||||||
| ^CJR LLC and PowerWash Plus, Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/30/2024 | 53.0 | 42.5 | 43.0 | 0.02 | % | ||||||||||||||
| ^Pocono Coated Products, LLC | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 5/30/2024 | 22.5 | 18.0 | 18.3 | 0.01 | % | ||||||||||||||
| ^EGM Food Services Inc dba Gold Star Chili | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/29/2024 | 19.2 | 15.4 | 15.3 | 0.01 | % | ||||||||||||||
| ^R. A. Johnson, Inc. dba Rick Johnson Auto & Tire | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 5/29/2039 | 943.8 | 899.8 | 956.7 | 0.46 | % | ||||||||||||||
| ^Wilton Dental Care P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 5/29/2024 | 128.1 | 105.0 | 103.4 | 0.05 | % | ||||||||||||||
| ^Jonesboro Health Food Center LLC | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 5/27/2024 | 60.0 | 48.1 | 47.3 | 0.02 | % | ||||||||||||||
| ^USI Properties LLC dba U Store It | Real Estate | Term Loan | Prime plus 2.75% | 5/23/2039 | 144.6 | 137.9 | 146.4 | 0.07 | % | ||||||||||||||
| ^Bay State Funeral Services, LLC and Riley Funeral Home Inc | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 5/21/2039 | 134.9 | 129.0 | 137.1 | 0.07 | % | ||||||||||||||
| ^Hae M. and Jin S. Park dba Buford Car Wash | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/15/2039 | 166.5 | 158.0 | 165.6 | 0.08 | % | ||||||||||||||
| ^Moochie's LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/13/2024 | 100.5 | 81.6 | 80.6 | 0.04 | % | ||||||||||||||
| ^The River Beas LLC and Punam Singh | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/8/2039 | 90.3 | 86.0 | 90.7 | 0.04 | % | ||||||||||||||
| ^AS Boyals LLC dba Towne Liquors | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 4/29/2039 | 117.5 | 111.8 | 118.9 | 0.06 | % | ||||||||||||||
| ^ENI Inc, Event Networks Inc, ENI Worldwide LLC and Spot Shop Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/25/2024 | 500.0 | 397.5 | 390.5 | 0.19 | % | ||||||||||||||
| ^Gerami Realty, LC Sherrill Universal City Corral, LP | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/23/2027 | 78.8 | 67.5 | 69.6 | 0.03 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Complete Body & Paint, Inc. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/23/2039 | 20.8 | 19.9 | 21.1 | 0.01 | % | ||||||||||||||
| ^Island Wide Realty LLC and Long Island Partners, Inc. | Real Estate | Term Loan | Prime plus 2.75% | 4/22/2039 | 103.8 | 98.8 | 105.1 | 0.05 | % | ||||||||||||||
| ^Wilshire Media Systems Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 4/17/2024 | 186.3 | 148.3 | 146.7 | 0.07 | % | ||||||||||||||
| ^1899 Tavern & Tap LLC and Ale House Tavern & Tap LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/9/2039 | 137.5 | 129.9 | 137.4 | 0.07 | % | ||||||||||||||
| ^Hodges Properties LLC and Echelon Enterprises Inc dba Treads Bicycle | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 3/31/2039 | 449.0 | 426.5 | 450.8 | 0.22 | % | ||||||||||||||
| ^Dantanna's Tavern LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2024 | 164.3 | 131.5 | 130.9 | 0.06 | % | ||||||||||||||
| ^Little People's Village II LLC and Iliopoulos Realty LLC | Social Assistance | Term Loan | Prime plus 2.75% | 3/31/2039 | 92.1 | 88.1 | 91.9 | 0.04 | % | ||||||||||||||
| ^RDT Enterprises, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/31/2028 | 141.2 | 123.9 | 128.3 | 0.06 | % | ||||||||||||||
| ^Little People's Village II LLC and Iliopoulos Realty LLC | Social Assistance | Term Loan | Prime plus 2.75% | 3/31/2039 | 101.5 | 97.1 | 101.4 | 0.05 | % | ||||||||||||||
| ^Eagle Aggregate Transportation, LLC and Eagle Pneumatic Transport LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 3/31/2024 | 1,250.0 | 590.9 | 602.4 | 0.29 | % | ||||||||||||||
| ^Kemmer, LLC and Pitts Package Store, Inc. | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/31/2039 | 117.5 | 111.8 | 115.7 | 0.06 | % | ||||||||||||||
| ^Wilban LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/28/2039 | 427.5 | 407.2 | 429.7 | 0.21 | % | ||||||||||||||
| ^Lake Area Autosound LLC and Ryan H. Whittington | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 7/28/2039 | 125.0 | 120.5 | 126.7 | 0.06 | % | ||||||||||||||
| ^Hascher Gabelstapler Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/26/2024 | 143.3 | 114.5 | 115.4 | 0.06 | % | ||||||||||||||
| ^Knowledge First Inc dba Magic Years of Learning and Kimberly Knox | Social Assistance | Term Loan | Prime plus 2.75% | 3/21/2039 | 145.0 | 138.0 | 144.6 | 0.07 | % | ||||||||||||||
| ^Cormac Enterprises and Wyoming Valley Beverage Incorporated | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/20/2039 | 110.8 | 105.4 | 112.0 | 0.05 | % | ||||||||||||||
| ^636 South Center Holdings, LLC and New Mansfield Brass and Aluminum Co. | Primary Metal Manufacturing | Term Loan | Prime plus 2.75% | 3/20/2039 | 497.5 | 477.3 | 507.2 | 0.24 | % | ||||||||||||||
| ^Kinisi, Inc. dba The River North UPS Store | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/18/2024 | 41.3 | 26.2 | 26.4 | 0.01 | % | ||||||||||||||
| ^SE Properties 39 Old Route 146, LLC, SmartEarly Clifton Park LLC | Social Assistance | Term Loan | Prime plus 2.75% | 3/14/2039 | 408.0 | 388.7 | 413.0 | 0.20 | % | ||||||||||||||
| ^Tortilla King Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 3/14/2039 | 216.9 | 206.9 | 216.0 | 0.10 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Tortilla King, Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 3/14/2029 | 1,033.1 | 926.1 | 943.6 | 0.45 | % | ||||||||||||||
| ^Bowl Mor, LLC dba Bowl Mor Lanes / Spare Lounge, Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/13/2039 | 223.5 | 212.3 | 225.6 | 0.11 | % | ||||||||||||||
| ^Avayaan2 LLC dba Island Cove | Gasoline Stations | Term Loan | Prime plus 2.75% | 3/7/2039 | 157.5 | 149.6 | 157.8 | 0.08 | % | ||||||||||||||
| ^Onofrio's Fresh Cut Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 3/6/2024 | 75.0 | 59.1 | 59.9 | 0.03 | % | ||||||||||||||
| ^R & R Boyal LLC dba Cap N Cat Clam Bar and Little Ease Tavern | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 2/28/2039 | 417.5 | 396.0 | 416.4 | 0.20 | % | ||||||||||||||
| ^Summit Beverage Group LLC | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 2/28/2024 | 350.6 | 273.7 | 275.2 | 0.13 | % | ||||||||||||||
| ^952 Boston Post Road Realty, LLC and HNA LLC dba Styles International | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/28/2039 | 211.0 | 200.1 | 209.9 | 0.10 | % | ||||||||||||||
| ^Choe Trade Group Inc dba Rapid Printers of Monterey | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 2/28/2024 | 159.3 | 124.4 | 126.8 | 0.06 | % | ||||||||||||||
| ^Faith Memorial Chapel LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 2/28/2039 | 214.2 | 203.6 | 213.3 | 0.10 | % | ||||||||||||||
| ^96 Mill Street LLC, Central Pizza LLC and Jason Bikakis George Bikaki | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/12/2039 | 141.3 | 134.5 | 142.9 | 0.07 | % | ||||||||||||||
| ^JWB Industries, Inc. dba Carteret Die Casting | Primary Metal Manufacturing | Term Loan | Prime plus 2.75% | 2/11/2024 | 280.0 | 218.6 | 216.4 | 0.10 | % | ||||||||||||||
| ^Awesome Pets II Inc dba Mellisa's Pet Depot | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 2/7/2024 | 83.2 | 65.7 | 65.2 | 0.03 | % | ||||||||||||||
| ^986 Dixwell Avenue Holding Company, LLC and Mughali Foods, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/7/2039 | 99.1 | 94.4 | 99.5 | 0.05 | % | ||||||||||||||
| ^Sovereign Communications LLC | Broadcasting (except Internet) | Term Loan | Prime plus 2.75% | 2/7/2024 | 907.8 | 712.6 | 702.2 | 0.34 | % | ||||||||||||||
| ^Sarah Sibadan dba Sibadan Agency | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 1/27/2039 | 129.4 | 122.5 | 129.7 | 0.06 | % | ||||||||||||||
| ^3Fmanagement LLC and ATC Fitness Cape Coral, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 1/24/2024 | 425.0 | 328.7 | 326.6 | 0.16 | % | ||||||||||||||
| ^JDR Industries Inc dba CST-The Composites Store, JetCat USA | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 1/21/2024 | 140.3 | 108.5 | 108.2 | 0.05 | % | ||||||||||||||
| ^Icore Enterprises Inc dba Air Flow Filters Inc | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 1/15/2024 | 21.8 | 16.8 | 17.1 | 0.01 | % | ||||||||||||||
| ^Carl R. Bieber, Inc. dba Bieber Tourways/Bieber Transportation/Bieber | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/30/2027 | 712.5 | 616.3 | 635.8 | 0.30 | % | ||||||||||||||
| ^Nutmeg North Associates LLC Steeltech Building Products Inc | Construction of Buildings | Term Loan | Prime plus 2.75% | 12/31/2038 | 897.8 | 868.1 | 909.1 | 0.43 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^CLU Amboy, LLC and Amboy Group, LLC dba Tommy Moloney's | Food Manufacturing | Term Loan | Prime plus 2.75% | 12/27/2023 | 656.3 | 511.4 | 521.0 | 0.25 | % | ||||||||||||||
| ^Shane M. Howell and Buck Hardware and Garden Center, LLC | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 12/27/2038 | 322.5 | 304.7 | 318.7 | 0.15 | % | ||||||||||||||
| ^KK International Trading Corporation | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/23/2028 | 190.0 | 165.0 | 169.4 | 0.08 | % | ||||||||||||||
| ^Kurtis Sniezek dba Wolfe's Foreign Auto | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/20/2038 | 88.9 | 84.0 | 89.2 | 0.04 | % | ||||||||||||||
| ^Mosley Auto Group LLC dba America's Automotive | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/20/2038 | 221.5 | 209.3 | 221.5 | 0.11 | % | ||||||||||||||
| ^Lefont Theaters Inc. | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 12/19/2023 | 14.4 | 11.0 | 11.0 | 0.01 | % | ||||||||||||||
| ^PLES Investements, LLC and John Redder, Pappy Sand & Gravel, Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/19/2038 | 555.3 | 524.6 | 550.6 | 0.26 | % | ||||||||||||||
| ^TAK Properties LLC and Kinderland Inc | Social Assistance | Term Loan | Prime plus 2.75% | 12/18/2038 | 405.0 | 383.2 | 402.7 | 0.19 | % | ||||||||||||||
| ^Any Garment Cleaner-East Brunswick, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 12/18/2023 | 53.8 | 41.4 | 41.9 | 0.02 | % | ||||||||||||||
| ^TOL LLC dba Wild Birds Unlimited | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 12/13/2023 | 18.0 | 14.3 | 14.2 | 0.01 | % | ||||||||||||||
| ^8 Minute Oil Change of Springfield Corporation and John Nino | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/12/2038 | 196.8 | 182.0 | 192.9 | 0.09 | % | ||||||||||||||
| ^920 CHR Realty LLC V. Garofalo Carting Inc | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 12/10/2038 | 418.1 | 395.0 | 419.6 | 0.20 | % | ||||||||||||||
| ^DKB Transport Corp | Truck Transportation | Term Loan | Prime plus 2.75% | 12/5/2038 | 138.8 | 131.1 | 139.2 | 0.07 | % | ||||||||||||||
| ^Firm Foundations Inc David S Gaitan Jr and Christopher K Daigle | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/3/2038 | 104.3 | 98.5 | 102.3 | 0.05 | % | ||||||||||||||
| ^Spectrum Development LLC and Solvit Inc & Solvit North, Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/2/2023 | 387.3 | 296.6 | 296.7 | 0.14 | % | ||||||||||||||
| ^BVIP Limousine Service LTD | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 11/27/2038 | 76.5 | 72.1 | 76.2 | 0.04 | % | ||||||||||||||
| ^Eco-Green Reprocessing LLC and Denali Medical Concepts, LLC | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 11/27/2023 | 67.2 | 51.0 | 50.4 | 0.02 | % | ||||||||||||||
| ^Wallace Holdings LLC,GFA International Inc | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.5% | 11/25/2023 | 125.0 | 94.5 | 92.5 | 0.04 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^AcuCall LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 11/21/2023 | 15.8 | 11.9 | 11.6 | 0.01 | % | ||||||||||||||
| ^Seven Peaks Mining Inc and Cornerstone Industrial Minerals Corporation | Mining (except Oil and Gas) | Term Loan | Prime plus 2.75% | 11/18/2038 | 1,250.0 | 1,175.6 | 1,218.3 | 0.58 | % | ||||||||||||||
| ^Kids in Motion of Springfield LLC dba The Little Gym of Springfield IL | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 11/18/2023 | 45.0 | 34.8 | 34.3 | 0.02 | % | ||||||||||||||
| ^Yousef Khatib dba Y&M Enterprises | Wholesale Electronic Markets and Agents and Brokers | Term Loan | Prime plus 2.75% | 11/15/2023 | 75.0 | 56.9 | 56.2 | 0.03 | % | ||||||||||||||
| ^Howell Gun Works LLC | Sporting Goods, Hobby, Musical Instrument, and Book Stores | Term Loan | Prime plus 2.75% | 11/14/2023 | 8.3 | 6.4 | 6.2 | — | % | ||||||||||||||
| ^Polpo Realty, LLC, Polpo Restaurant, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/6/2038 | 62.5 | 58.9 | 62.5 | 0.03 | % | ||||||||||||||
| ^Twinsburg Hospitality Group LLC dba Comfort Suites | Accommodation | Term Loan | Prime plus 2.75% | 10/31/2038 | 945.0 | 893.7 | 937.8 | 0.45 | % | ||||||||||||||
| ^Mid-Land Sheet Metal Inc | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 10/31/2038 | 137.5 | 129.6 | 136.9 | 0.07 | % | ||||||||||||||
| ^Master CNC Inc & Master Properties LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 10/31/2038 | 596.6 | 561.6 | 585.4 | 0.28 | % | ||||||||||||||
| ^Janice B. McShan and The Metropolitan Day School, LLC | Social Assistance | Term Loan | Prime plus 2.75% | 10/31/2023 | 42.8 | 33.1 | 33.7 | 0.02 | % | ||||||||||||||
| ^1 North Restaurant Corp dba 1 North Steakhouse | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 10/31/2038 | 212.5 | 200.0 | 211.6 | 0.10 | % | ||||||||||||||
| ^Meridian Hotels LLC dba Best Western Jonesboro | Accommodation | Term Loan | Prime plus 2.75% | 10/29/2038 | 664.5 | 625.3 | 664.1 | 0.32 | % | ||||||||||||||
| ^New Image Building Services Inc. dba New Image Repair Services | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/29/2023 | 331.3 | 248.9 | 247.0 | 0.12 | % | ||||||||||||||
| ^Greenbrier Technical Services, Inc | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/24/2023 | 240.1 | 164.4 | 167.5 | 0.08 | % | ||||||||||||||
| ^Clairvoyant Realty Corp. and Napoli Marble & Granite Design, Ltd | �� | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 10/24/2038 | 246.3 | 231.8 | 242.6 | 0.12 | % | |||||||||||||
| ^Kelly Auto Care LLC dba Shoreline Quick Lube and Car Wash | Repair and Maintenance | Term Loan | Prime plus 2.75% | 10/18/2023 | 87.5 | 65.7 | 65.3 | 0.03 | % | ||||||||||||||
| ^Cencon Properties LLC and Central Connecticut Warehousing Company | Warehousing and Storage | Term Loan | Prime plus 2.75% | 9/30/2038 | 344.5 | 324.0 | 343.7 | 0.16 | % | ||||||||||||||
| ^Onofrios Enterprises LLC Onofrios Fresh Cut, Inc | Food Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2038 | 312.5 | 294.6 | 310.8 | 0.15 | % | ||||||||||||||
| ^Discount Wheel and Tire | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 9/30/2038 | 223.8 | 210.1 | 220.5 | 0.11 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^First Steps Real Estate Company, LLC and First Steps Preschool | Social Assistance | Term Loan | Prime plus 2.75% | 9/30/2038 | 97.6 | 91.7 | 95.7 | 0.05 | % | ||||||||||||||
| ^Lenoir Business Partners LLC LP Industries, Inc dba Childforms | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2038 | 322.7 | 308.0 | 324.4 | 0.16 | % | ||||||||||||||
| ^Top Properties LLC and LP Industries, Inc dba Childforms | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 9/30/2038 | 120.0 | 114.3 | 121.4 | 0.06 | % | ||||||||||||||
| ^Mitchellville Family Dentistry, Dr. Octavia Simkins-Wiseman DDS PC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/27/2038 | 335.1 | 314.6 | 331.2 | 0.16 | % | ||||||||||||||
| ^Gabrielle Realty, LLC | Gasoline Stations | Term Loan | Prime plus 2.75% | 9/27/2038 | 757.6 | 711.3 | 746.0 | 0.36 | % | ||||||||||||||
| ^Anthony C Dinoto and Susan S P Dinoto and Anthony C Dinoto Funeral Homes | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/26/2038 | 100.0 | 94.0 | 99.8 | 0.05 | % | ||||||||||||||
| ^Eastside Soccer Dome, Inc . | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/26/2038 | 463.8 | 435.4 | 462.1 | 0.22 | % | ||||||||||||||
| ^Southeast Chicago Soccer, Inc. | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/26/2038 | 51.3 | 48.1 | 51.1 | 0.02 | % | ||||||||||||||
| ^HJ & Edward Enterprises, LLC dba Sky Zone | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/26/2023 | 262.5 | 201.7 | 203.3 | 0.10 | % | ||||||||||||||
| ^Kiddie Steps 4 You Inc. | Social Assistance | Term Loan | Prime plus 2.75% | 9/25/2038 | 89.3 | 85.6 | 89.5 | 0.04 | % | ||||||||||||||
| ^Diamond Memorials Incorporated | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/25/2023 | 14.3 | 9.7 | 9.5 | — | % | ||||||||||||||
| ^Serious-Fun in Alpharetta, LLC dba The Little Gym of Alpharetta | Educational Services | Term Loan | Prime plus 2.75% | 9/20/2023 | 46.3 | 34.6 | 34.2 | 0.02 | % | ||||||||||||||
| ^Faith Memorial Chapel LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/20/2038 | 268.4 | 252.8 | 266.1 | 0.13 | % | ||||||||||||||
| ^Westville Seafood LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/19/2038 | 112.3 | 105.4 | 110.7 | 0.05 | % | ||||||||||||||
| ^Maynard Enterprises Inc dba Fastsigns of Texarkana | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 9/18/2023 | 16.1 | 12.1 | 12.0 | 0.01 | % | ||||||||||||||
| ^Grafio Inc dba Omega Learning Center-Acworth | Educational Services | Term Loan | Prime plus 2.75% | 9/13/2023 | 156.3 | 123.3 | 122.2 | 0.06 | % | ||||||||||||||
| ^Sound Manufacturing Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 9/12/2028 | 54.8 | 46.9 | 47.7 | 0.02 | % | ||||||||||||||
| ^The Berlerro Group, LLC dba Sky Zone | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/12/2023 | 421.3 | 323.5 | 320.0 | 0.15 | % | ||||||||||||||
| ^Prospect Kids Academy Inc | Educational Services | Term Loan | Prime plus 2.75% | 9/11/2038 | 124.3 | 116.4 | 122.8 | 0.06 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Alma J. and William R. Walton and Almas Child Day Care Center | Social Assistance | Term Loan | Prime plus 2.75% | 9/11/2038 | 39.5 | 37.1 | 39.4 | 0.02 | % | ||||||||||||||
| ^B for Brunette dba Blo | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/10/2023 | 53.4 | 40.3 | 39.5 | 0.02 | % | ||||||||||||||
| ^Schmaltz Holdings, LLC and Schmaltz Operations, LLC dba Companio | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/4/2038 | 224.2 | 208.8 | 219.1 | 0.10 | % | ||||||||||||||
| ^Excel RP Inc | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 8/30/2023 | 130.3 | 96.0 | 97.5 | 0.05 | % | ||||||||||||||
| ^IlOKA Inc dba Microtech Tel and NewCloud Networks | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/30/2023 | 687.5 | 506.6 | 504.2 | 0.24 | % | ||||||||||||||
| ^ACI Northwest Inc. | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 8/30/2023 | 906.3 | 452.8 | 459.3 | 0.22 | % | ||||||||||||||
| ^Spectrum Radio Fairmont, LLC | Broadcasting (except Internet) | Term Loan | Prime plus 2.75% | 8/30/2023 | 187.5 | 164.3 | 167.0 | 0.08 | % | ||||||||||||||
| ^Gulfport Academy Child Care and Learning Center, Inc. | Social Assistance | Term Loan | Prime plus 2.75% | 8/30/2023 | 43.3 | 31.9 | 32.3 | 0.02 | % | ||||||||||||||
| ^Ramard Inc and Advanced Health Sciences Inc | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 8/28/2023 | 187.5 | 138.2 | 135.3 | 0.06 | % | ||||||||||||||
| ^RM Hawkins LLC dba Pure Water Tech West and Robert M Hawkins | Nonstore Retailers | Term Loan | Prime plus 2.75% | 8/26/2023 | 85.8 | 59.8 | 60.9 | 0.03 | % | ||||||||||||||
| ^JSIL LLC dba Blackstones Hairdressing | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 8/16/2023 | 19.5 | 14.2 | 14.1 | 0.01 | % | ||||||||||||||
| ^Island Nautical Enterprises, Inc. and Ingwall Holdings, LLC | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 8/14/2038 | 445.0 | 326.6 | 341.3 | 0.16 | % | ||||||||||||||
| ^Caribbean Concepts, Inc. dba Quick Bleach | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 8/12/2023 | 22.5 | 16.7 | 16.4 | 0.01 | % | ||||||||||||||
| ^209 North 3rd Street, LLC, Yuster Insurance Group Inc | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 7/29/2038 | 83.9 | 78.5 | 82.7 | 0.04 | % | ||||||||||||||
| ^Majestic Contracting Services, Inc. dba Majestic Electric and Majestic | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/26/2038 | 190.0 | 177.7 | 186.2 | 0.09 | % | ||||||||||||||
| ^Daniel W and Erin H Gordon and Silver Lining Stables CT, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/24/2023 | 11.3 | 8.2 | 8.4 | — | % | ||||||||||||||
| ^Angkor Restaurant Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/19/2038 | 93.0 | 87.1 | 92.1 | 0.04 | % | ||||||||||||||
| ^Harbor Ventilation Inc and Estes Investment, LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/19/2038 | 92.1 | 22.4 | 23.7 | 0.01 | % | ||||||||||||||
| ^Tri County Heating and Cooling Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/19/2023 | 87.8 | 64.0 | 65.0 | 0.03 | % | ||||||||||||||
| ^Morning Star Trucking LLC and Morning Star Equipment and Leasing LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 7/17/2023 | 53.8 | 39.2 | 38.4 | 0.02 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Maxiflex LLC | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 6/28/2023 | 153.5 | 110.5 | 112.9 | 0.05 | % | ||||||||||||||
| ^GIA Realty LLC and VRAJ GIA LLC dba Lakeview Laundromat | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/28/2038 | 97.5 | 91.0 | 97.1 | 0.05 | % | ||||||||||||||
| ^JRA Holdings LLC, Jasper County Cleaners Inc dba Superior Cleaner | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/28/2038 | 121.0 | 112.0 | 119.4 | 0.06 | % | ||||||||||||||
| ^2161 Highway 6 Trail, LLC, R. H. Hummer JR., Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 6/19/2026 | 1,250.0 | 788.0 | 812.6 | 0.39 | % | ||||||||||||||
| ^CBlakeslee Arpaia Chapman, Inc. dba Blakeslee Industrial Services | Heavy and Civil Engineering Construction | Term Loan | Prime plus 2.75% | 6/18/2028 | 875.0 | 737.8 | 765.6 | 0.37 | % | ||||||||||||||
| ^KDP LLC and KDP Investment Advisors, Inc and KDP Asset Management, Inc | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 6/14/2023 | 343.8 | 248.2 | 249.4 | 0.12 | % | ||||||||||||||
| ^Elite Structures Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 6/12/2038 | 932.8 | 847.9 | 904.0 | 0.43 | % | ||||||||||||||
| ^Willowbrook Properties LLC, Grove Gardens Landscaping Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 6/5/2038 | 186.3 | 173.9 | 184.9 | 0.09 | % | ||||||||||||||
| ^Absolute Desire LLC and Mark H. Szierer, Sophisticated Smile | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/5/2038 | 188.3 | 175.9 | 186.1 | 0.09 | % | ||||||||||||||
| ^RKP Service dba Rainbow Carwash | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/31/2023 | 300.0 | 216.7 | 218.1 | 0.10 | % | ||||||||||||||
| ^RXSB, Inc dba Medicine Shoppe | Health and Personal Care Stores | Term Loan | Prime plus 2.75% | 5/30/2023 | 186.3 | 133.3 | 133.7 | 0.06 | % | ||||||||||||||
| ^Gregory P Jellenek OD and Associates PC dba Gregory P Jellenek OD | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 5/28/2023 | 63.5 | 45.3 | 45.8 | 0.02 | % | ||||||||||||||
| ^Ryan D. Thornton and Thornton & Associates LLC | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 5/24/2023 | 68.8 | 37.3 | 37.4 | 0.02 | % | ||||||||||||||
| ^PowerWash Plus, Inc. and CJR, LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/30/2038 | 550.0 | 512.3 | 543.3 | 0.26 | % | ||||||||||||||
| ^Peanut Butter & Co., Inc. | Food Manufacturing | Term Loan | Prime plus 2.75% | 4/30/2023 | 100.0 | 70.3 | 70.6 | 0.03 | % | ||||||||||||||
| ^Brothers International Desserts | Food Manufacturing | Term Loan | Prime plus 2.75% | 4/26/2023 | 230.0 | 162.6 | 164.9 | 0.08 | % | ||||||||||||||
| ^Kidrose, LLC dba Kidville Riverdale | Educational Services | Term Loan | Prime plus 2.75% | 4/22/2023 | 78.8 | 56.3 | 56.9 | 0.03 | % | ||||||||||||||
| ^Vernon & Stephanie Scott and Little Stars Day Care Center, Inc. | Educational Services | Term Loan | Prime plus 2.75% | 4/18/2038 | 151.0 | 140.5 | 149.8 | 0.07 | % | ||||||||||||||
| ^1258 Hartford TPKE, LLC and Phelps and Sons, Inc | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 3/29/2038 | 124.6 | 115.7 | 122.4 | 0.06 | % | ||||||||||||||
| ^Capital Scrap Metal, LLC and Powerline Investment, LLC | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 3/29/2038 | 500.0 | 441.7 | 470.7 | 0.23 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^MRM Supermarkets Inc dba Constantins Breads; Dallas Gourmet Breads; | Food Manufacturing | Term Loan | Prime plus 2.75% | 3/29/2038 | 336.0 | 312.5 | 330.0 | 0.16 | % | ||||||||||||||
| ^Neyra Industries, Inc. and Edward Neyra | Nonmetallic Mineral Product Manufacturing | Term Loan | Prime plus 2.75% | 3/27/2023 | 217.5 | 152.1 | 155.1 | 0.07 | % | ||||||||||||||
| ^A & M Commerce, Inc. dba Cranberry Sunoco | Gasoline Stations | Term Loan | Prime plus 2.75% | 3/27/2038 | 330.3 | 306.4 | 325.7 | 0.16 | % | ||||||||||||||
| ^Xela Pack, Inc. and Aliseo and Catherine Gentile | Paper Manufacturing | Term Loan | Prime plus 2.75% | 3/27/2028 | 271.8 | 225.8 | 234.1 | 0.11 | % | ||||||||||||||
| ^American Diagnostic Imaging, Inc. dba St. Joseph Imaging Center | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 3/25/2038 | 537.5 | 499.0 | 528.7 | 0.25 | % | ||||||||||||||
| ^Michael A.and HeatherR. Welsch dba Art & FrameEtc. | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 3/22/2038 | 67.5 | 62.7 | 66.6 | 0.03 | % | ||||||||||||||
| ^M & H Pine Straw Inc and Harris L. Maloy | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 3/21/2023 | 288.8 | 201.8 | 205.1 | 0.10 | % | ||||||||||||||
| ^Truth Technologies Inc dba Truth Technologies Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 3/21/2023 | 79.5 | 55.6 | 55.9 | 0.03 | % | ||||||||||||||
| ^J. Kinderman & Sons Inc., dba BriteStar Inc. | Electrical Equipment, Appliance, and Component Manufacturing | Term Loan | Prime plus 2.75% | 12/31/2018 | 181.3 | 129.5 | 129.8 | 0.06 | % | ||||||||||||||
| ^Stellar Environmental LLC | Waste Management and Remediation Services | Term Loan | Prime plus 2.75% | 3/18/2023 | 56.3 | 39.4 | 40.1 | 0.02 | % | ||||||||||||||
| ^Sound Manufacturing, Inc. and Monster Power Equipment Inc. | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 3/15/2023 | 523.0 | 364.8 | 369.5 | 0.18 | % | ||||||||||||||
| ^Golden Gate Lodging LLC | Accommodation | Term Loan | Prime plus 2.75% | 3/12/2038 | 115.0 | 106.8 | 113.4 | 0.05 | % | ||||||||||||||
| ^Bakhtar Group LLC dba Malmaison | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2023 | 103.8 | 72.4 | 72.6 | 0.03 | % | ||||||||||||||
| ^River Club Golf Course Inc dba The River Club | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/28/2038 | 475.2 | 440.2 | 467.2 | 0.22 | % | ||||||||||||||
| ^Osceola River Mill, LLC(EPC) Ironman Machine, Inc. | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 2/20/2038 | 86.3 | 79.9 | 84.9 | 0.04 | % | ||||||||||||||
| ^Java Warung, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/19/2038 | 51.0 | 47.3 | 50.3 | 0.02 | % | ||||||||||||||
| ^Nancy & Karl Schmidt(EPC) Moments to Remember USA, LLC | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 2/15/2038 | 106.3 | 98.5 | 104.6 | 0.05 | % | ||||||||||||||
| ^Orient Direct, Inc. dba Spracht, Celltek, ODI | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 2/12/2023 | 84.9 | 58.0 | 58.1 | 0.03 | % | ||||||||||||||
| ^Knits R Us, Inc. dba NYC Sports | Textile Mills | Term Loan | Prime plus 2.75% | 2/11/2038 | 125.0 | 116.0 | 123.6 | 0.06 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^North Country Transport, LLC | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 2/6/2023 | 15.0 | 10.4 | 10.6 | 0.01 | % | ||||||||||||||
| ^MJD Investments, LLC dba The Community Day School | Social Assistance | Term Loan | Prime plus 2.75% | 1/31/2038 | 258.3 | 238.9 | 253.2 | 0.12 | % | ||||||||||||||
| ^Sherill Universal City dba Golden Corral | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/28/2038 | 440.5 | 409.0 | 433.7 | 0.21 | % | ||||||||||||||
| ^Elegant Fireplace Mantels, Inc. dba Elegant Fireplace Mantels | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 12/31/2022 | 97.5 | 66.0 | 66.2 | 0.03 | % | ||||||||||||||
| ^Macho LLC Madelaine Chocolate Novelties Inc dba The Madelai | Food Manufacturing | Term Loan | Prime plus 2.75% | 12/31/2037 | 500.0 | 463.9 | 494.1 | 0.24 | % | ||||||||||||||
| ^WI130, LLC & Lakeland Group, Inc dba Lakeland Electrical | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 12/31/2028 | 271.5 | 226.7 | 233.0 | 0.11 | % | ||||||||||||||
| ^Babie Bunnie Enterprises Inc dba Triangle Mothercare | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/28/2027 | 46.3 | 34.4 | 35.0 | 0.02 | % | ||||||||||||||
| ^John Duffy Fuel Co., Inc. | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/28/2022 | 513.8 | 348.0 | 354.7 | 0.17 | % | ||||||||||||||
| ^Polpo Realty LLC & Polpo Restaurant LLC dba Polpo Restauran | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/27/2037 | 517.5 | 479.6 | 510.7 | 0.24 | % | ||||||||||||||
| ^Martin L Hopp, MD PHD A Medical Corp dba Tower ENT | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/21/2022 | 66.3 | 44.7 | 45.1 | 0.02 | % | ||||||||||||||
| ^United Woodworking, Inc | Wood Product Manufacturing | Term Loan | 6% | 12/20/2022 | 17.3 | 11.7 | 11.9 | 0.01 | % | ||||||||||||||
| ^Pioneer Window Holdings, Inc and Subsidiaries dba Pioneer Windows | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 12/20/2022 | 225.0 | 152.3 | 154.0 | 0.07 | % | ||||||||||||||
| ^Ezzo Properties, LLC and Great Lakes Cleaning, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/20/2027 | 389.6 | 318.7 | 326.0 | 0.16 | % | ||||||||||||||
| ^The Amendments Group LLC dba Brightstar | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/17/2022 | 22.5 | 15.2 | 15.5 | 0.01 | % | ||||||||||||||
| ^Cheryle A Baptiste and Cheryle Baptiste DDS PLLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/30/2037 | 286.5 | 265.0 | 281.5 | 0.13 | % | ||||||||||||||
| ^Aegis Creative Communications, Inc. | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 11/30/2022 | 387.5 | 252.3 | 252.6 | 0.12 | % | ||||||||||||||
| ^Daniel Gordon and Erin Gordon and Silver Lining Stables CT, LLC | Support Activities for Agriculture and Forestry | Term Loan | Prime plus 2.75% | 11/28/2037 | 223.8 | 206.2 | 219.5 | 0.10 | % | ||||||||||||||
| ^D&L Rescources, Inc. dba The UPS Store | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 11/27/2022 | 9.8 | 6.5 | 6.5 | — | % | ||||||||||||||
| ^Richmond Hill Mini Market, LLC | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 11/27/2037 | 185.3 | 170.7 | 181.3 | 0.09 | % | ||||||||||||||
| ^DRV Enterprise, Inc. dba Cici's Pizza # 339 | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/26/2022 | 65.0 | 40.5 | 41.3 | 0.02 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Clean Brothers Company Inc dba ServPro of North Washington County | Repair and Maintenance | Term Loan | Prime plus 2.75% | 11/21/2022 | 17.0 | 7.7 | 7.8 | — | % | ||||||||||||||
| ^U & A Food and Fuel, Inc. dba Express Gas & Food Mart | Gasoline Stations | Term Loan | Prime plus 2.75% | 11/21/2037 | 96.3 | 88.7 | 94.4 | 0.05 | % | ||||||||||||||
| ^Pioneer Windows Manufacturing Corp, Pioneer Windows | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 11/21/2022 | 275.0 | 184.0 | 186.0 | 0.09 | % | ||||||||||||||
| ^R & J Petroleum LLC Manar USA, Inc. | Gasoline Stations | Term Loan | Prime plus 2.75% | 11/20/2037 | 180.0 | 165.8 | 176.3 | 0.08 | % | ||||||||||||||
| ^St Judes Physical Therapy P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/19/2022 | 21.0 | 14.0 | 14.3 | 0.01 | % | ||||||||||||||
| ^Hi-Def Imaging, Inc. dba SpeedPro Imaging | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 11/9/2022 | 22.2 | 14.9 | 15.0 | 0.01 | % | ||||||||||||||
| ^Reidville Hydraulics Mfg Inc dba Summit | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 11/2/2037 | 265.9 | 245.2 | 258.7 | 0.12 | % | ||||||||||||||
| ^Big Apple Entertainment Partners, LLC dba Ripley's Believe It or Not | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 10/26/2022 | 180.0 | 121.8 | 122.0 | 0.06 | % | ||||||||||||||
| ^LA Diner Inc dba Loukas L A Diner | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/28/2037 | 677.5 | 625.7 | 666.0 | 0.32 | % | ||||||||||||||
| ^ATC Fitness LLC dba Around the Clock Fitness | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/28/2022 | 180.0 | 120.7 | 122.5 | 0.06 | % | ||||||||||||||
| ^University Park Retreat, LLC dba Massage Heights | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 9/27/2022 | 76.0 | 49.6 | 50.5 | 0.02 | % | ||||||||||||||
| ^Forno Italiano Di Nonna Randazzo, LLC dba Nonna Randazzo's Bakery | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/26/2037 | 183.8 | 169.9 | 180.0 | 0.09 | % | ||||||||||||||
| ^LaSalle Market and Deli EOK Inc and Rugen Realty LLC dba LaSalle Mark | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/21/2037 | 252.3 | 231.4 | 245.0 | 0.12 | % | ||||||||||||||
| ^O'Rourkes Diner LLC dba O'Rourke's Diner | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 9/19/2037 | 65.5 | 60.1 | 63.5 | 0.03 | % | ||||||||||||||
| ^Michael J. Speeney & Joyce Speeney and R2 Tape, Inc. | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 8/31/2037 | 367.5 | 336.4 | 358.1 | 0.17 | % | ||||||||||||||
| ^AJK Enterprise LLC dba AJK Enterprise LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 8/27/2022 | 16.5 | 10.6 | 10.8 | 0.01 | % | ||||||||||||||
| ^New Image Building Services, Inc. dba New Image Repair Services | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/23/2037 | 285.7 | 261.6 | 275.7 | 0.13 | % | ||||||||||||||
| ^Suncoast Aluminum Furniture, Inc | Furniture and Related Product Manufacturing | Term Loan | Prime plus 2.75% | 8/17/2037 | 360.0 | 329.8 | 351.0 | 0.17 | % | ||||||||||||||
| ^Hofgard & Co., Inc. dba HofgardBenefits | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 7/27/2022 | 107.3 | 68.3 | 69.3 | 0.03 | % | ||||||||||||||
| ^Georgia Safe Sidewalks LLC | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/27/2022 | 15.0 | 9.4 | 9.5 | — | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Scoville Plumbing & Heating Inc and Thomas P. Scoville | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 7/25/2022 | 50.0 | 33.5 | 34.1 | 0.02 | % | ||||||||||||||
| ^Central Tire, Inc. dba Cooper Tire & Auto Services | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/29/2037 | 288.5 | 262.8 | 280.1 | 0.13 | % | ||||||||||||||
| ^WPI, LLC | Transportation Equipment Manufacturing | Term Loan | Prime plus 2.75% | 6/29/2024 | 129.5 | 92.0 | 94.2 | 0.05 | % | ||||||||||||||
| ^Havana Central (NY) 5, LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/29/2022 | 1,166.8 | 766.6 | 780.9 | 0.37 | % | ||||||||||||||
| ^Jenkins-Pavia Corporation dba Victory Lane Quick Oil Change | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/27/2037 | 69.8 | 63.5 | 67.8 | 0.03 | % | ||||||||||||||
| ^KIND-ER-ZZ Inc dba Kidville | Educational Services | Term Loan | Prime plus 2.75% | 6/15/2022 | 50.0 | 31.2 | 31.6 | 0.02 | % | ||||||||||||||
| ^Graphish Studio, Inc. and Scott Fishoff | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 6/14/2022 | 20.3 | 12.7 | 12.9 | 0.01 | % | ||||||||||||||
| ^ALF, LLC, Mulit-Service Eagle Tires | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 5/31/2037 | 62.9 | 57.2 | 61.1 | 0.03 | % | ||||||||||||||
| ^Craig R Freehauf dba Lincoln Theatre | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 5/31/2022 | 47.9 | 22.0 | 22.4 | 0.01 | % | ||||||||||||||
| ^Lefont Theaters, Inc. | Motion Picture and Sound Recording Industries | Term Loan | Prime plus 2.75% | 5/30/2022 | 137.0 | 85.2 | 86.6 | 0.04 | % | ||||||||||||||
| ^Christou Real Estate Holdings LLC dba Tops American Grill | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 5/17/2037 | 284.0 | 257.9 | 275.4 | 0.13 | % | ||||||||||||||
| ^Tracey Vita-Morris dba Tracey Vita's School of Dance | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 5/10/2022 | 22.5 | 14.0 | 14.2 | 0.01 | % | ||||||||||||||
| ^Bisson Transportation, Inc. | Truck Transportation | Term Loan | Prime plus 2.75% | 5/7/2037 | 588.1 | 553.0 | 588.9 | 0.28 | % | ||||||||||||||
| ^Bisson Moving & Storage Company Bisson Transportation Inc and BTG Real | Truck Transportation | Term Loan | Prime plus 2.75% | 5/7/2022 | 528.8 | 350.0 | 356.3 | 0.17 | % | ||||||||||||||
| ^Fair Deal Food Mart Inc dba Neighbors Market | Gasoline Stations | Term Loan | Prime plus 2.75% | 5/3/2037 | 381.3 | 346.5 | 370.3 | 0.18 | % | ||||||||||||||
| ^Tanner Optical, Inc. dba Murphy Eye Care | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 4/27/2022 | 8.3 | 5.0 | 5.1 | — | % | ||||||||||||||
| ^Zane Filippone Co Inc dba Culligan Water Conditioning | Nonstore Retailers | Term Loan | Prime plus 2.75% | 4/12/2022 | 558.2 | 344.0 | 350.0 | 0.17 | % | ||||||||||||||
| ^Indoor Playgrounds Limited Liability Company dba Kidville | Educational Services | Term Loan | Prime plus 2.75% | 4/5/2022 | 19.5 | 8.4 | 8.6 | — | % | ||||||||||||||
| ^Brandywine Picnic Park, Inc. and B.Ross Capps & Linda Capps | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/30/2031 | 231.5 | 195.9 | 205.8 | 0.10 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Access Staffing, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/30/2022 | 187.5 | 113.6 | 114.8 | 0.05 | % | ||||||||||||||
| ^Willow Springs Golf Course, Inc. & JC Lindsey Family Limited Partners | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 3/29/2037 | 755.4 | 696.2 | 743.5 | 0.36 | % | ||||||||||||||
| ^Manuel P. Barrera and Accura Electrical Contractor, Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 3/23/2028 | 103.7 | 82.0 | 84.9 | 0.04 | % | ||||||||||||||
| ^Shweiki Media, Inc. dba Study Breaks Magazine | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 3/22/2027 | 1,178.8 | 916.7 | 947.4 | 0.45 | % | ||||||||||||||
| ^ATC Fitness, LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/28/2022 | 10.2 | 6.1 | 6.2 | — | % | ||||||||||||||
| ^ATI Jet, Inc. | Air Transportation | Term Loan | Prime plus 2.75% | 12/28/2026 | 852.8 | 643.1 | 664.9 | 0.32 | % | ||||||||||||||
| ^J. Kinderman & Sons, Inc. dba Brite Star Manufacturing Company | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 12/22/2036 | 495.0 | 452.5 | 482.9 | 0.23 | % | ||||||||||||||
| ^K's Salon, LLC d/b/a K's Salon | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 12/20/2021 | 73.6 | 42.8 | 43.2 | 0.02 | % | ||||||||||||||
| ^15 Frederick Place LLC & Pioneer Windows Holdings Inc & Subs | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 12/16/2021 | 250.0 | 144.1 | 146.2 | 0.07 | % | ||||||||||||||
| ^M & H Pinestraw, Inc. and Harris L. Maloy | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 12/15/2021 | 238.3 | 138.6 | 140.5 | 0.07 | % | ||||||||||||||
| ^Taylor Transport, Inc | Truck Transportation | Term Loan | Prime plus 2.75% | 12/8/2021 | 515.5 | 219.2 | 223.1 | 0.11 | % | ||||||||||||||
| ^Thomas P. Scoville dba Scoville Plumbing & Heating, Inc. | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 11/16/2021 | 62.5 | 35.6 | 36.3 | 0.02 | % | ||||||||||||||
| ^MRM Supermarkets, Inc. dba Constantin's Breads | Food Manufacturing | Term Loan | Prime plus 2.75% | 11/10/2021 | 137.5 | 79.0 | 80.2 | 0.04 | % | ||||||||||||||
| ^K9 Bytes, Inc & Epazz, Inc dba K9 Bytes, Inc | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 10/26/2021 | 58.8 | 34.4 | 34.8 | 0.02 | % | ||||||||||||||
| ^28 Cornelia Street Properties, LLC and Zouk, Ltd.dba Palma | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 10/25/2021 | 22.5 | 12.5 | 12.7 | 0.01 | % | ||||||||||||||
| ^PTK, Incorporated dba Night N Day 24 HR Convenience Store | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 9/30/2036 | 137.5 | 122.9 | 131.0 | 0.06 | % | ||||||||||||||
| ^39581 Garfield, LLC and Tricounty Neurological Associates, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/30/2036 | 28.5 | 25.3 | 26.9 | 0.01 | % | ||||||||||||||
| ^39581 Garfield, LLC and Tri County Neurological Associates, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 9/30/2036 | 83.3 | 74.3 | 79.1 | 0.04 | % | ||||||||||||||
| ^Robert E. Caves, Sr. and American Plank dba Caves Enterprises | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/30/2021 | 302.5 | 165.5 | 168.3 | 0.08 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Big Apple Entertainment Partners, LLC dba Ripley's Believe it or Not | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/28/2021 | 1,070.0 | 589.1 | 594.4 | 0.28 | % | ||||||||||||||
| ^Polymer Sciences, Inc. dba Polymer Sciences, Inc. | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 9/28/2036 | 422.6 | 377.3 | 402.4 | 0.19 | % | ||||||||||||||
| ^Equity National Capital LLC & Chadbourne Road Capital, LLC | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 9/26/2021 | 62.5 | 34.8 | 35.2 | 0.02 | % | ||||||||||||||
| ^Bryan Bantry Inc. | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 9/8/2021 | 400.0 | 148.1 | 149.4 | 0.07 | % | ||||||||||||||
| ^SBR Technologies d/b/a Color Graphics | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/31/2021 | 806.2 | 433.9 | 441.2 | 0.21 | % | ||||||||||||||
| ^Michael S. Decker & Janet Decker dba The Hen House Cafe | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/30/2036 | 16.4 | 14.7 | 15.6 | 0.01 | % | ||||||||||||||
| ^Qycell Corporation | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 8/19/2021 | 187.5 | 97.1 | 98.2 | 0.05 | % | ||||||||||||||
| ^Trademark Equipment Company Inc and David A. Daniel | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 8/19/2036 | 133.6 | 119.1 | 126.8 | 0.06 | % | ||||||||||||||
| ^Valiev Ballet Academy, Inc | Performing Arts, Spectator Sports, and Related Industries | Term Loan | Prime plus 2.75% | 8/12/2036 | 91.5 | 37.8 | 40.3 | 0.02 | % | ||||||||||||||
| ^A & A Auto Care, LLC dba A & A Auto Care, LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 8/12/2036 | 101.0 | 90.1 | 96.0 | 0.05 | % | ||||||||||||||
| ^LaHoBa, LLC dba Papa John's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/3/2036 | 77.5 | 68.6 | 73.2 | 0.04 | % | ||||||||||||||
| ^Kelly Chon LLC dba Shi-Golf | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 7/29/2021 | 17.5 | 6.9 | 7.0 | — | % | ||||||||||||||
| ^MTV Bowl, Inc. dba Legend Lanes | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/30/2036 | 248.5 | 223.0 | 237.7 | 0.11 | % | ||||||||||||||
| ^Lavertue Properties LLP dba Lavertue Properties | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | Prime plus 2.75% | 6/29/2036 | 44.8 | 39.8 | 42.5 | 0.02 | % | ||||||||||||||
| ^Lisle Lincoln II Limited Partnership dba Lisle Lanes LP | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/29/2036 | 338.1 | 312.0 | 332.9 | 0.16 | % | ||||||||||||||
| ^Pierce Developments, Inc. dba Southside Granite | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 6/13/2036 | 256.1 | 227.3 | 242.2 | 0.12 | % | ||||||||||||||
| ^Major Queens Body & Fender Corp | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/10/2021 | 28.6 | 15.2 | 15.4 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^J&K Fitness, LLC dba Physiques Womens Fitness Center | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/8/2036 | 449.3 | 407.6 | 434.9 | 0.21 | % | ||||||||||||||
| ^Peanut Butter & Co., Inc. dba Peanut Butter & Co. | Merchant Wholesalers, Nondurable Goods | Term Loan | Prime plus 2.75% | 6/3/2021 | 65.5 | 33.6 | 34.0 | 0.02 | % | ||||||||||||||
| ^Demand Printing Solutions, Inc. and MLM Enterprises, LLC dba Demand | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 5/27/2021 | 16.5 | 8.6 | 8.7 | — | % | ||||||||||||||
| ^Modern on the Mile, LLC dba Ligne Roset | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 5/25/2021 | 212.5 | 110.0 | 111.4 | 0.05 | % | ||||||||||||||
| ^Music Mountain Water Company, LLC | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 4/25/2036 | 138.1 | 121.4 | 129.6 | 0.06 | % | ||||||||||||||
| ^Profile Performance, Inc. and Eidak Real Estate, L.L.C. | Repair and Maintenance | Term Loan | Prime plus 2.75% | 4/20/2036 | 127.5 | 112.6 | 120.2 | 0.06 | % | ||||||||||||||
| ^Northwind Outdoor Recreation, Inc. dba Red Rock Wilderness Store | Nonstore Retailers | Term Loan | Prime plus 2.75% | 4/18/2036 | 129.5 | 116.5 | 124.4 | 0.06 | % | ||||||||||||||
| ^Michael S. Korfe dba North Valley Auto Repair | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/24/2036 | 15.5 | 13.7 | 14.6 | 0.01 | % | ||||||||||||||
| ^Actknowledge,Inc dba Actknowledge | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 3/21/2021 | 57.3 | 29.0 | 29.4 | 0.01 | % | ||||||||||||||
| ^Food & Beverage Associates Of N.J. Inc | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/11/2021 | 10.0 | 4.4 | 4.5 | — | % | ||||||||||||||
| ^Key Products I&II, Inc. dba Dunkin' Donuts/Baskin-Robbins | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 3/10/2021 | 153.0 | 77.5 | 78.4 | 0.04 | % | ||||||||||||||
| ^Stephen Frank, Patricia Frank and Suds Express LLC dba Frank Chiropra | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 2/25/2023 | 63.0 | 36.2 | 37.1 | 0.02 | % | ||||||||||||||
| ^SuzyQue’s LLC dba Suzy Que’s | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/11/2036 | 61.0 | 53.8 | 57.4 | 0.03 | % | ||||||||||||||
| ^Little People’s Village, LLC dba Little People’s Village | Social Assistance | Term Loan | Prime plus 2.75% | 1/31/2036 | 31.1 | 27.3 | 29.1 | 0.01 | % | ||||||||||||||
| ^Seagate Group Holdings, Inc. dba Seagate Logistics, Inc. | Support Activities for Transportation | Term Loan | Prime plus 2.75% | 1/28/2036 | 113.4 | 99.4 | 106.1 | 0.05 | % | ||||||||||||||
| ^Patrageous Enterprises, LLC dba Incredibly Edible Delites of Laurel | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 12/29/2020 | 7.6 | 3.5 | 3.5 | — | % | ||||||||||||||
| Dixie Transport, Inc. & Johnny D. Brown & Jimmy Brown & Maudain Brown | Support Activities for Transportation | Term Loan | 5.25% | 12/28/2035 | 145.9 | 137.4 | 146.2 | 0.07 | % | ||||||||||||||
| ^Shree OM Lodging, LLC dba Royal Inn | Accommodation | Term Loan | Prime plus 2.75% | 12/17/2035 | 27.7 | 24.2 | 25.8 | 0.01 | % | ||||||||||||||
| Groundworks Unlimited LLC | Specialty Trade Contractors | Term Loan | 6% | 12/17/2023 | 120.0 | 81.2 | 83.4 | 0.04 | % | ||||||||||||||
| ^Lodin Medical Imaging, LLC dba Watson Imaging Center | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/1/2020 | 66.4 | 30.7 | 31.1 | 0.01 | % | ||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Robert F. Schuler and Lori A. Schuler dba Bob’s Service Center | Repair and Maintenance | Term Loan | Prime plus 2.75% | 11/30/2035 | 34.0 | 29.7 | 31.6 | 0.02 | % | ||||||||||||||
| ^Any Garment Cleaner-East Brunswick, Inc dba Any Garment Cleaner | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/18/2020 | 42.5 | 16.9 | 17.1 | 0.01 | % | ||||||||||||||
| ^West Cobb Enterprises, Inc and Advanced Eye Associates, L.L.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 11/12/2035 | 148.7 | 129.9 | 138.3 | 0.07 | % | ||||||||||||||
| ^Lincoln Park Physical Therapy | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 10/20/2020 | 43.5 | 19.9 | 20.2 | 0.01 | % | ||||||||||||||
| ^K9 Bytes, Inc & Epazz, Inc | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 9/30/2020 | 18.5 | 8.7 | 8.8 | — | % | ||||||||||||||
| ^Elan Realty, LLC and Albert Basse Asociates, Inc. | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 9/30/2035 | 228.2 | 198.3 | 211.3 | 0.10 | % | ||||||||||||||
| ^Success Express,Inc. dba Success Express | Couriers and Messengers | Term Loan | Prime plus 2.75% | 9/29/2020 | 91.8 | 41.1 | 41.4 | 0.02 | % | ||||||||||||||
| ^Modern Manhattan, LLC | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 9/20/2020 | 204.0 | 92.5 | 93.5 | 0.04 | % | ||||||||||||||
| ^Dirk's Trucking, L.L.C. dba Dirk's Trucking | Truck Transportation | Term Loan | Prime plus 2.75% | 9/17/2020 | 17.7 | 7.9 | 8.0 | — | % | ||||||||||||||
| ^Rudy & Louise Chavez dba Clyde's Auto and Furniture Upholstery | Repair and Maintenance | Term Loan | Prime plus 2.75% | 9/2/2035 | 50.1 | 43.4 | 46.3 | 0.02 | % | ||||||||||||||
| ^Newsome Trucking Inc and Kevin Newsome | Truck Transportation | Term Loan | Prime plus 2.75% | 9/2/2035 | 423.1 | 208.3 | 221.6 | 0.11 | % | ||||||||||||||
| ^California College of Communications, Inc. | Educational Services | Term Loan | Prime plus 2.75% | 11/2/2020 | 172.5 | 79.7 | 80.5 | 0.04 | % | ||||||||||||||
| ^DDLK Investments LLC dba Smoothie King | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/30/2020 | 7.5 | 2.6 | 2.6 | — | % | ||||||||||||||
| ^Planet Verte,LLC dba Audio Unlimited | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 9/20/2020 | 40.0 | 17.9 | 18.0 | 0.01 | % | ||||||||||||||
| ^Members Only Software | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 8/30/2020 | 40.3 | 17.6 | 17.8 | 0.01 | % | ||||||||||||||
| ^ActKnowledge,Inc dba ActKnowledge | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 6/30/2020 | 50.0 | 21.4 | 21.6 | 0.01 | % | ||||||||||||||
| ^I-90 RV & Auto Supercenter | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 6/29/2035 | 74.9 | 64.6 | 68.9 | 0.03 | % | ||||||||||||||
| ^WeaverVentures, Inc dba The UPS Store | Postal Service | Term Loan | Prime plus 2.75% | 7/28/2020 | 23.8 | 10.3 | 10.5 | 0.01 | % | ||||||||||||||
| ^CJ Park Inc. dba Kidville Midtown West | Educational Services | Term Loan | Prime plus 2.75% | 6/25/2020 | 26.4 | 8.9 | 9.0 | —% | |||||||||||||||
| ^Zouk, Ltd. dba Palma | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 8/25/2020 | 27.5 | 12.2 | 12.3 | 0.01% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Tanner Optical Inc. dba Murphy Eye Care | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/22/2035 | 94.6 | 81.7 | 87.1 | 0.04% | |||||||||||||||
| ^M & H Pine Straw, Inc.and Harris Maloy | Support Activities for Agriculture and Forestry | Term Loan | Prime plus 2.75% | 7/10/2020 | 67.5 | 29.2 | 29.6 | 0.01% | |||||||||||||||
| ^Excel RP, Inc., Kevin and Joann Foley | Machinery Manufacturing | Term Loan | Prime plus 2.75% | 7/8/2028 | 50.0 | 37.9 | 39.6 | 0.02% | |||||||||||||||
| ValleyStar, Inc. dba BrightStar HealthCare | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/28/2020 | 0.6 | 2.6 | 2.6 | —% | |||||||||||||||
| ^ValleyStar, Inc. dba BrightStar Healthcare | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/28/2020 | 7.5 | 3.2 | 3.2 | —% | |||||||||||||||
| ^Diag, LLC dba Kidville | Educational Services | Term Loan | Prime plus 2.75% | 6/21/2020 | 37.5 | 15.6 | 15.8 | 0.01% | |||||||||||||||
| ^M & H Pine Straw, Inc and Harris L. Maloy | Support Activities for Agriculture and Forestry | Term Loan | 6% | 4/30/2020 | 183.3 | 59.4 | 60.2 | 0.03% | |||||||||||||||
| ^New Economic Methods LLC dba Rita's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/15/2020 | 24.8 | 0.7 | 0.7 | —% | |||||||||||||||
| ^Cocoa Beach Parasail Corp. dba Cocoa Beach Parasail | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 4/26/2020 | 6.3 | 2.5 | 2.6 | —% | |||||||||||||||
| ^Vortex Automotive LLC | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/5/2035 | 76.6 | 65.8 | 70.1 | 0.03% | |||||||||||||||
| ^ATC Fitness LLC dba Around the Clock Fitness | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 2/28/2019 | 15.0 | 4.5 | 4.5 | —% | |||||||||||||||
| ^Lahoba,LLC dba Papa John's Pizza | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/30/2034 | 42.5 | 36.2 | 38.6 | 0.02% | |||||||||||||||
| ^Music Mountain Water Company,LLC dba Music Mountain Water Co. | Beverage and Tobacco Product Manufacturing | Term Loan | Prime plus 2.75% | 12/29/2019 | 185.4 | 69.1 | 69.9 | 0.03% | |||||||||||||||
| ^Animal Intrusion Prevention Systems Holding Company, LLC | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/29/2024 | 126.5 | 29.0 | 29.9 | 0.01% | |||||||||||||||
| ^David A. Nusblatt, D.M.D, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 12/11/2019 | 9.0 | 3.3 | 3.3 | —% | |||||||||||||||
| ^CMA Consulting dba Construction Management Associates | Construction of Buildings | Term Loan | Prime plus 2.75% | 12/11/2019 | 58.5 | 19.5 | 19.7 | 0.01% | |||||||||||||||
| ^KMC RE, LLC & B&B Kennels | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/19/2034 | 58.3 | 49.5 | 52.7 | 0.03% | |||||||||||||||
| ^Demand Printing Solutions, Inc. | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 12/12/2019 | 10.0 | 3.6 | 3.7 | —% | |||||||||||||||
| ^Planet Verte, LLC dba Audio Unlimited of Oceanside | Administrative and Support Services | Term Loan | Prime plus 2.75% | 11/28/2019 | 57.0 | 20.3 | 20.5 | 0.01% | |||||||||||||||
| ^Demand Printing Solutions, Inc | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 10/29/2034 | 147.5 | 124.9 | 132.9 | 0.06% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Supreme Screw Products | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 4/17/2019 | 308.2 | 87.6 | 88.4 | 0.04% | |||||||||||||||
| ^Gray Tree Service, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/18/2018 | 50.0 | 12.4 | 12.5 | 0.01% | |||||||||||||||
| ^Envy Salon & Spa LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 12/4/2018 | 20.3 | 4.9 | 4.9 | —% | |||||||||||||||
| ^Gourmet to You, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2019 | 12.1 | 3.3 | 3.3 | —% | |||||||||||||||
| ^The Alba Financial Group, Inc. | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | Term Loan | 6% | 1/10/2019 | 22.5 | 12.1 | 12.2 | 0.01% | |||||||||||||||
| ^Grapevine Professional Services, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 1/22/2019 | 8.2 | 2.0 | 2.0 | —% | |||||||||||||||
| ^Inflate World Corporation | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 9/30/2018 | 7.5 | 1.3 | 1.3 | —% | |||||||||||||||
| ^Peter Thomas Roth Labs LL | Merchant Wholesalers, Durable Goods | Term Loan | Prime plus 2.75% | 9/26/2018 | 425.0 | 93.3 | 93.9 | 0.04% | |||||||||||||||
| ^Dream Envy, Ltd. dba Massage Envy | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 11/9/2018 | 88.0 | 20.6 | 20.7 | 0.01% | |||||||||||||||
| ^CBA D&A Pope, LLC dba Christian Brothers Automotive | Repair and Maintenance | Term Loan | Prime plus 2.75% | 6/14/2018 | 144.9 | 28.8 | 28.9 | 0.01% | |||||||||||||||
| ^Gilbert Chiropractic Clinic, Inc. | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/7/2018 | 22.5 | 4.0 | 4.1 | —% | |||||||||||||||
| ^D & D's Divine Beauty School of Esther, LLC | Educational Services | Term Loan | 6% | 8/1/2031 | 57.7 | 51.3 | 54.1 | 0.03% | |||||||||||||||
| ^Daniel S. Fitzpatrick dba Danny's Mobile Appearance Reconditioning Service | Repair and Maintenance | Term Loan | Prime plus 2.75% | 3/29/2018 | 9.4 | 1.6 | 1.6 | —% | |||||||||||||||
| ^Burks & Sons Development LLC dba Tropical Smoothie Cafe | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 3/22/2018 | 49.8 | 8.0 | 8.0 | —% | |||||||||||||||
| Bliss Coffee and Wine Bar, LLC | Food Services and Drinking Places | Term Loan | 6% | 3/19/2018 | 87.5 | 69.9 | 70.2 | 0.03% | |||||||||||||||
| ^Zog Inc. | Other Information Services | Term Loan | 6% | 3/17/2018 | 97.5 | 62.1 | 62.3 | 0.03% | |||||||||||||||
| ^Saan M.Saelee dba Saelee's Delivery Service | Truck Transportation | Term Loan | Prime plus 2.75% | 3/12/2018 | 9.8 | 1.6 | 1.6 | —% | |||||||||||||||
| Integrity Sports Group, LLC | Performing Arts, Spectator Sports, and Related Industries | Term Loan | 6% | 3/6/2018 | 75.0 | 31.7 | 31.8 | 0.02% | |||||||||||||||
| ^Enewhere Custom Canvas, LLC | Textile Product Mills | Term Loan | Prime plus 2.75% | 2/15/2018 | 12.0 | 1.9 | 1.9 | —% | |||||||||||||||
| ^A & A Acquisition, Inc. dba A & A International | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 2/15/2018 | 100.0 | 14.8 | 14.9 | 0.01% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^All American Printing | Printing and Related Support Activities | Term Loan | Prime plus 2.75% | 10/26/2032 | 69.8 | 37.6 | 39.8 | 0.02% | |||||||||||||||
| ^Seo's Paradise Cleaners, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 1/19/2018 | 9.8 | 0.6 | 0.6 | —% | |||||||||||||||
| ^Margab, Inc. dba Smoothie King | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/28/2017 | 44.0 | 5.7 | 5.7 | —% | |||||||||||||||
| ^RCB Enterprises, Inc. | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/18/2017 | 21.2 | 3.4 | 3.4 | —% | |||||||||||||||
| ^Timothy S. Strange dba Strange's Mobile Apperance Reconditioning Service | Repair and Maintenance | Term Loan | Prime plus 2.75% | 12/17/2017 | 8.4 | 0.8 | 0.8 | —% | |||||||||||||||
| ^Parties By Pat, Inc. and Jose M. Martinez Jr. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/11/2017 | 93.1 | 11.8 | 11.8 | 0.01% | |||||||||||||||
| ^Tammy's Bakery, Inc. dba Tammy's Bakery | Food Manufacturing | Term Loan | Prime plus 2.75% | 12/10/2017 | 71.8 | 9.9 | 10.0 | —% | |||||||||||||||
| ^Maria C. Sathre and David N. Sathre dba Black Forest Liquor Store | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 11/28/2017 | 18.6 | 2.2 | 2.2 | —% | |||||||||||||||
| ^MJ Mortgage & Tax Services, Inc. | Credit Intermediation and Related Activities | Term Loan | Prime plus 2.75% | 11/14/2017 | 6.9 | 0.4 | 0.4 | —% | |||||||||||||||
| ^Kings Laundry,LLC | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 10/30/2017 | 64.5 | 7.1 | 7.1 | —% | |||||||||||||||
| ^Quality Engraving Services Inc. and Ian M. Schnaitman | Miscellaneous Store Retailers | Term Loan | Prime plus 2.75% | 10/17/2017 | 15.0 | 1.7 | 1.7 | —% | |||||||||||||||
| ^Louis B. Smith dba LAQ Funeral Coach | Transit and Ground Passenger Transportation | Term Loan | Prime plus 2.75% | 9/15/2017 | 12.6 | 1.2 | 1.2 | —% | |||||||||||||||
| ^1911 East Main Street Holdings, Corp | Repair and Maintenance | Term Loan | Prime plus 2.75% | 5/18/2032 | 15.8 | 12.3 | 13.1 | 0.01% | |||||||||||||||
| ^Metano IBC Services, Inc. and Stone Brook Leasing, LLC | Rental and Leasing Services | Term Loan | Prime plus 2.75% | 8/17/2017 | 315.0 | 25.2 | 25.3 | 0.01% | |||||||||||||||
| ^Mala Iyer, MD dba Child and Family Wellness Center | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 8/11/2017 | 50.0 | 4.8 | 4.9 | —% | |||||||||||||||
| ^Twietmeyer Dentistry PA | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/30/2017 | 148.9 | 9.9 | 9.9 | —% | |||||||||||||||
| ^Water Works Laundromat, LLC | Personal and Laundry Services | Term Loan | Prime plus 2.25% | 9/7/2027 | 267.3 | 184.0 | 187.1 | 0.09% | |||||||||||||||
| ^Dave Kris, and MDK Ram Corp. | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 2/5/2026 | 221.0 | 32.3 | 33.4 | 0.02% | |||||||||||||||
| ^No Thirst Software LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/26/2017 | 6.8 | 0.2 | 0.2 | —% | |||||||||||||||
| ^CCIPTA, LLC | Clothing and Clothing Accessories Stores | Term Loan | Prime plus 2.75% | 1/17/2017 | 47.0 | 0.2 | 0.2 | —% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Gill Express Inc. dba American Eagle Truck Wash | Repair and Maintenance | Term Loan | Prime plus 2.75% | 1/5/2027 | 286.9 | 187.3 | 194.8 | 0.09% | |||||||||||||||
| ^Spain Street LLC | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/29/2017 | 63.0 | 0.9 | 0.9 | —% | |||||||||||||||
| ^Kyoshi Enterprises, LLC | Educational Services | Term Loan | Prime plus 2.75% | 12/29/2016 | 22.5 | — | — | —% | |||||||||||||||
| ^Nora A. Palma and Julio O Villcas | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/27/2017 | 56.3 | 0.1 | 0.1 | —% | |||||||||||||||
| ^Smooth Grounds, Inc. | Food Services and Drinking Places | Term Loan | 7.75% | 12/31/2018 | 64.5 | 30.6 | 30.8 | 0.01% | |||||||||||||||
| ^Fran-Car Corporation dba Horizon Landscape Management | Administrative and Support Services | Term Loan | Prime plus 2.75% | 3/3/2028 | 407.8 | 161.0 | 168.0 | 0.08% | |||||||||||||||
| ^Head To Toe Personalized Pampering, Inc. | Personal and Laundry Services | Term Loan | Prime plus 2.75% | 1/27/2031 | 52.0 | 9.0 | 9.5 | —% | |||||||||||||||
| ^Maxwell Place, LLC | Nursing and Residential Care Facilities | Term Loan | 6.5% | 12/31/2018 | 1,076.8 | 772.5 | 779.2 | 0.37% | |||||||||||||||
| ^Christopher F. Bohon & Pamela D. Bohon | Social Assistance | Term Loan | Prime plus 2.75% | 10/28/2026 | 14.2 | 3.2 | 3.4 | —% | |||||||||||||||
| ^Shree Om Lodging, LLC dba Royal Inn | Accommodation | Term Loan | Prime plus 2.75% | 5/2/2030 | 333.3 | 64.1 | 67.4 | 0.03% | |||||||||||||||
| ^Pedzik's Pets, LLC | Support Activities for Agriculture and Forestry | Term Loan | Prime plus 2.75% | 3/31/2030 | 53.5 | 9.0 | 9.4 | —% | |||||||||||||||
| ^Nancy Carapelluci & A & M Seasonal Corner Inc. | Building Material and Garden Equipment and Supplies Dealers | Term Loan | Prime plus 2.75% | 3/1/2025 | 106.9 | 14.5 | 15.0 | 0.01% | |||||||||||||||
| ^Moonlight Multi Media Production, Inc. | Other Information Services | Term Loan | 5.3% | 2/1/2025 | 19.7 | 3.3 | 3.4 | —% | |||||||||||||||
| David M. Goens dba Superior Auto Paint & Body, Inc. | Repair and Maintenance | Term Loan | 6% | 8/26/2024 | 250.0 | 17.5 | 18.1 | 0.01% | |||||||||||||||
| ^McCallister Venture Group, LLC and Maw's Vittles, Inc. | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/30/2029 | 75.0 | 11.6 | 12.1 | 0.01% | |||||||||||||||
| ^Computer Renaissance dba Dante IT Services, Inc. | Electronics and Appliance Stores | Term Loan | Prime plus 3.75% | 3/1/2018 | 100.0 | 1.6 | 1.6 | —% | |||||||||||||||
| ^Chong Hun Im dba Kim's Market | Food and Beverage Stores | Term Loan | Prime plus 2.5% | 2/27/2024 | 80.0 | 9.5 | 9.7 | —% | |||||||||||||||
| Whirlwind Car Wash, Inc. | Repair and Maintenance | Term Loan | Prime plus 2% | 4/9/2029 | 333.3 | 65.5 | 65.8 | 0.03% | |||||||||||||||
| ^West Experience,Inc/West Mountain Equipment Rental,Inc/Ski West Lodge | Amusement, Gambling, and Recreation Industries | Term Loan | 6% | 6/5/2026 | 1,333.0 | 863.5 | 895.8 | 0.43% | |||||||||||||||
| ^Center-Mark Car Wash, Ltd | Specialty Trade Contractors | Term Loan | Prime plus 2.75% | 5/18/2024 | 221.3 | 27.9 | 28.7 | 0.01% | |||||||||||||||
| ^Shuttle Car Wash, Inc. dba Shuttle Car Wash | Repair and Maintenance | Term Loan | Prime plus 2.25% | 11/10/2028 | 109.8 | 17.2 | 17.5 | 0.01% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Min Hui Lin | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 1/30/2028 | 134.3 | 17.5 | 18.2 | 0.01% | |||||||||||||||
| ^Delta Partners, LLC dba Delta Carwash | Repair and Maintenance | Term Loan | Prime plus 2.5% | 4/5/2029 | 280.9 | 42.5 | 44.0 | 0.02% | |||||||||||||||
| ^Auto Sales, Inc. | Motor Vehicle and Parts Dealers | Term Loan | 6% | 8/17/2023 | 75.0 | 7.8 | 8.0 | —% | |||||||||||||||
| ^B & J Manufacturing Corporation and Benson Realty Trust | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2% | 3/30/2021 | 250.0 | 18.8 | 18.8 | 0.01% | |||||||||||||||
| ^RAB Services, Inc. & Professional Floor Installations | Specialty Trade Contractors | Term Loan | Prime plus 2.5% | 1/31/2023 | 62.5 | 7.0 | 7.1 | —% | |||||||||||||||
| ^Ralph Werner dba Werner Transmissions | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/29/2021 | 26.6 | 2.3 | 2.4 | —% | |||||||||||||||
| ^Taste of Inverness, Inc. dba China Garden | Food Services and Drinking Places | Term Loan | Prime plus 2% | 6/29/2025 | 73.8 | 8.8 | 8.8 | —% | |||||||||||||||
| ^M. Krishna, Inc. dba Super 8 Motel | Accommodation | Term Loan | Prime plus 2% | 3/20/2025 | 250.0 | 9.4 | 9.5 | —% | |||||||||||||||
| ^Robin C. & Charles E. Taylor & Brigantine Aquatic Center LLC | Amusement, Gambling, and Recreation Industries | Term Loan | 6% | 9/14/2023 | 185.8 | 31.5 | 32.3 | 0.02% | |||||||||||||||
| ^OrthoQuest, P.C. | Ambulatory Health Care Services | Term Loan | Prime plus 2% | 3/12/2022 | 56.8 | 4.3 | 4.3 | —% | |||||||||||||||
| ^CPN Motel, L.L.C. dba American Motor Lodge | Accommodation | Term Loan | Prime plus 2.25% | 4/30/2024 | 379.0 | 30.8 | 31.1 | 0.01% | |||||||||||||||
| ^Track Side Collision & Tire, Inc. | Plastics and Rubber Products Manufacturing | Term Loan | Prime plus 2.75% | 6/16/2025 | 44.8 | 4.9 | 5.0 | —% | |||||||||||||||
| ^Duttakrupa, LLC dba Birmingham Motor Court | Accommodation | Term Loan | Prime plus 2.25% | 9/8/2023 | 98.8 | 12.2 | 12.3 | 0.01% | |||||||||||||||
| ^Deesha Corporation, Inc. dba Best Inn & Suites | Accommodation | Term Loan | Prime plus 2.25% | 2/14/2025 | 250.0 | 27.4 | 27.8 | 0.01% | |||||||||||||||
| ^Maruti, Inc | Accommodation | Term Loan | Prime plus 2.25% | 11/25/2024 | 220.0 | 25.4 | 25.7 | 0.01% | |||||||||||||||
| Willington Hills Equestrian Center LLC | Animal Production and Aquaculture | Term Loan | Prime plus 2.75% | 10/19/2022 | 85.0 | 12.8 | 13.1 | 0.01% | |||||||||||||||
| ^LABH, Inc. | Accommodation | Term Loan | Prime plus 2.25% | 9/27/2024 | 555.0 | 40.8 | 41.3 | 0.02% | |||||||||||||||
| ^Randall D. & Patricia D. Casaburi dba Pat's Pizzazz | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 3/13/2023 | 68.8 | 7.0 | 7.2 | —% | |||||||||||||||
| ^Gain Laxmi, Inc. dba Super 8 Motel | Accommodation | Term Loan | Prime plus 2.25% | 5/31/2023 | 202.5 | 20.0 | 20.2 | 0.01% | |||||||||||||||
| ^Naseeb Corporation | Accommodation | Term Loan | Prime plus 2.25% | 3/31/2024 | 402.5 | 29.8 | 30.2 | 0.01% | |||||||||||||||
| ^Stillwell Ave Prep School | Social Assistance | Term Loan | Prime plus 2.75% | 1/14/2023 | 72.0 | 6.4 | 6.5 | —% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Karis, Inc. | Accommodation | Term Loan | Prime plus 2% | 12/22/2023 | 148.8 | 13.4 | 13.4 | 0.01% | |||||||||||||||
| ^Five Corners, Ltd. | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/11/2019 | 85.0 | 4.7 | 4.8 | —% | |||||||||||||||
| ^Alyssa Corp dba Knights Inn | Accommodation | Term Loan | Prime plus 2.25% | 9/30/2023 | 350.0 | 42.0 | 42.4 | 0.02% | |||||||||||||||
| ^Bhailal Patel dba New Falls Motel | Accommodation | Term Loan | Prime plus 2.75% | 3/27/2023 | 100.0 | 3.7 | 3.8 | —% | |||||||||||||||
| ^Pegasus Automotive, Inc. | Gasoline Stations | Term Loan | Prime plus 2.75% | 12/23/2022 | 112.5 | 10.9 | 11.2 | 0.01% | |||||||||||||||
| ^Delyannis Iron Works | Fabricated Metal Product Manufacturing | Term Loan | 6% | 12/8/2022 | 16.0 | 1.0 | 1.1 | —% | |||||||||||||||
| ^P. Agrino, Inc. dba Andover Diner | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 7/18/2021 | 150.0 | 8.9 | 9.1 | —% | |||||||||||||||
| ^Golden Elevator Co., Inc. | Support Activities for Agriculture and Forestry | Term Loan | Prime plus 2.75% | 1/31/2022 | 50.0 | 0.4 | 0.4 | —% | |||||||||||||||
| ^RJS Service Corporation | Gasoline Stations | Term Loan | Prime plus 2.75% | 8/20/2021 | 79.0 | 6.2 | 6.3 | —% | |||||||||||||||
| Chez Rurene Bakery | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/20/2017 | 150.0 | 9.2 | 9.2 | —% | |||||||||||||||
| Total Performing SBA Unguaranteed Investments | $ | 235,664.6 | $ | 204,850.6 | $ | 202,886.6 | 97.03% | ||||||||||||||||
| Non-Performing SBA Unguaranteed Investments (3) | |||||||||||||||||||||||
| ^200 North 8th Street Associates LLC and Enchanted Acres Fa | Food Manufacturing | Term Loan | Prime plus 2.75% | 5/4/2028 | $ | 468.8 | $ | 469.3 | $ | 441.3 | 0.21% | ||||||||||||
| ^214 North Franklin, LLC and Winter Ventures, Inc. | Nonstore Retailers | Term Loan | 6% | 11/29/2037 | 81.7 | 81.7 | 29.7 | 0.01% | |||||||||||||||
| ^A + Quality Home Health Care, Inc. | Ambulatory Health Care Services | Term Loan | 6% | 8/1/2016 | 1.3 | 1.3 | 1.2 | —% | |||||||||||||||
| Almeria Marketing 1, Inc. | Personal and Laundry Services | Term Loan | 7.75% | 10/15/2015 | 4.3 | 4.3 | 0.6 | —% | |||||||||||||||
| ^Al-Mustafa Enterprise, Inc. and Al-Mustafa Enterprise Inc | Motor Vehicle and Parts Dealers | Term Loan | 6.25% | 9/18/2040 | 129.3 | 129.5 | 109.0 | 0.05% | |||||||||||||||
| ^AUM Estates, LLC and Sculpted Figures Plastic Surgery Inc. | Ambulatory Health Care Services | Term Loan | 6% | 3/14/2038 | 305.3 | 305.7 | 28.8 | 0.01% | |||||||||||||||
| AWA Fabrication & Construction, L.L.C. | Fabricated Metal Product Manufacturing | Term Loan | 6% | 4/30/2025 | 34.7 | 34.8 | 19.4 | 0.01% | |||||||||||||||
| ^B&B Fitness and Barbell, Inc. dba Elevations Health Club | Amusement, Gambling, and Recreation Industries | Term Loan | 6% | 6/22/2035 | 206.4 | 206.7 | 201.6 | 0.10% | |||||||||||||||
| Baker Sales, Inc. d/b/a Baker Sales, Inc. | Nonstore Retailers | Term Loan | 6% | 3/29/2036 | 177.0 | 177.4 | 80.2 | 0.04% | |||||||||||||||
| ^Fieldstone Quick Stop LLC(OC) Barber Investments LLC (EPC) Thadius M B | Gasoline Stations | Term Loan | 6% | 9/30/2038 | 646.4 | 648.0 | 327.6 | 0.16% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Barber Investments LLC and Fieldstone Quickstop LLC and Maine Dollar D | Gasoline Stations | Term Loan | Prime plus 2.75% | 8/15/2039 | 146.0 | 146.3 | — | —% | |||||||||||||||
| Bwms Management, LLC | Food Services and Drinking Places | Term Loan | 0% | 3/1/2018 | 5.1 | 5.1 | 4.9 | —% | |||||||||||||||
| ^Chickamauga Properties, Inc., MSW Enterprises, LLP | Amusement, Gambling, and Recreation Industries | Term Loan | 6.25% | 12/22/2035 | 59.0 | 59.0 | 56.4 | 0.03% | |||||||||||||||
| ^Chickamauga Properties, Inc. and MSW Enterprises, LLP | Amusement, Gambling, and Recreation Industries | Term Loan | 6.25% | 10/19/2022 | 43.4 | 43.5 | — | —% | |||||||||||||||
| ^Custom Software, Inc. a Colorado Corporation dba M-33 Access | Professional, Scientific, and Technical Services | Term Loan | 6.25% | 6/17/2021 | 285.5 | 286.2 | 43.1 | 0.02% | |||||||||||||||
| ^Custom Software, Inc. a Colorado Corporation dba M-33 Access | Broadcasting (except Internet) | Term Loan | 6.25% | 4/30/2022 | 94.1 | 94.3 | — | —% | |||||||||||||||
| ^Danjam Enterprises, LLC dba Ariel Dental Care | Ambulatory Health Care Services | Term Loan | 6% | 3/31/2035 | 172.8 | 173.0 | 158.3 | 0.08% | |||||||||||||||
| ^Danjam Enterprises, LLC dba Ariel Dental Care | Ambulatory Health Care Services | Term Loan | 6% | 3/29/2023 | 64.7 | 64.8 | 58.6 | 0.03% | |||||||||||||||
| ^DC Realty, LLC dba FOGO Data Centers | Professional, Scientific, and Technical Services | Term Loan | 6% | 3/23/2037 | 2,646.6 | 2,673.3 | 2,609.4 | 1.25% | |||||||||||||||
| ^DC Realty, LLC dba FOGO Data Centers | Professional, Scientific, and Technical Services | Term Loan | 6.25% | 3/23/2022 | 178.9 | 179.3 | 169.4 | 0.08% | |||||||||||||||
| ^Dean 1021 LLC dba Pure Pita | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 4/29/2025 | 63.9 | 64.0 | 49.6 | 0.02% | |||||||||||||||
| ^Dill Street Bar and Grill Inc and WO Entertainment, Inc | Food Services and Drinking Places | Term Loan | 6% | 9/27/2027 | 78.2 | 78.4 | 1.2 | —% | |||||||||||||||
| Dr. Francis E. Anders, DVM | Professional, Scientific, and Technical Services | Term Loan | 6% | 8/9/2015 | 1.6 | 1.6 | 1.5 | —% | |||||||||||||||
| ^Europlast Ltd | Plastics and Rubber Products Manufacturing | Term Loan | 6% | 9/26/2022 | 316.1 | 316.9 | 36.5 | 0.02% | |||||||||||||||
| ^Europlast Ltd | Plastics and Rubber Products Manufacturing | Term Loan | 6% | 5/31/2023 | 155.2 | 155.6 | 114.8 | 0.05% | |||||||||||||||
| ^Event Mecca LLC | Other Information Services | Term Loan | 6% | 4/10/2023 | 12.6 | 12.6 | 9.4 | —% | |||||||||||||||
| ^EZ Towing, Inc. | Support Activities for Transportation | Term Loan | 6% | 1/31/2023 | 123.2 | 123.5 | 107.1 | 0.05% | |||||||||||||||
| ^Gator Communications Group LLC dba Harvard Printing Group | Printing and Related Support Activities | Term Loan | 6.25% | 3/30/2022 | 232.9 | 233.5 | 22.7 | 0.01% | |||||||||||||||
| ^Gator Communications Group LLC dba Harvard Printing Group | Printing and Related Support Activities | Term Loan | 6.25% | 4/25/2022 | 157.4 | 157.8 | — | —% | |||||||||||||||
| ^Gator Communications Group, LLC dba Harvard Printing Group | Printing and Related Support Activities | Term Loan | 6.25% | 3/27/2023 | 13.3 | 13.3 | — | —% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^Grand Manor Realty, Inc. & Kevin LaRoe | Real Estate | Term Loan | 6% | 2/20/2023 | 18.9 | 19.0 | 17.8 | 0.01% | |||||||||||||||
| Guzman Group,LLC | Rental and Leasing Services | Term Loan | 6% | 1/30/2016 | 189.7 | 190.2 | 154.5 | 0.07% | |||||||||||||||
| ^Hamer Road Auto Salvage, LLC and Scott T. Cook and Nikki J. Cook | Motor Vehicle and Parts Dealers | Term Loan | 6% | 8/8/2039 | 176.7 | 177.1 | 156.6 | 0.07% | |||||||||||||||
| Harrelson Materials Management,Inc | Waste Management and Remediation Services | Term Loan | 6% | 6/24/2021 | 464.2 | 465.4 | 36.4 | 0.02% | |||||||||||||||
| ^Hartford Cardiology Group LLC and Ideal Nutrition of Connecticut LLC | Ambulatory Health Care Services | Term Loan | Prime plus 2.75% | 6/30/2026 | 478.9 | 480.1 | 127.1 | 0.06% | |||||||||||||||
| ^Home Again Restaurant LLC | Food Services and Drinking Places | Term Loan | 6.25% | 6/30/2040 | 58.7 | 58.8 | 52.9 | 0.03% | |||||||||||||||
| ^J Olson Enterprises LLC and Olson Trucking Direct, Inc. | Truck Transportation | Term Loan | 6% | 6/28/2025 | 647.5 | 649.1 | 226.8 | 0.11% | |||||||||||||||
| ^J&M Concessions, Inc.dba A-1 Liquors | Food and Beverage Stores | Term Loan | 6.25% | 3/3/2039 | 130.2 | 130.6 | 91.9 | 0.04% | |||||||||||||||
| ^J&M Concessions Inc dba A 1 Liquors | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 2/27/2025 | 79.8 | 80.0 | 11.7 | 0.01% | |||||||||||||||
| Jenny's Wunderland, Inc. | Social Assistance | Term Loan | 6% | 6/29/2036 | 149.7 | 150.1 | 52.2 | 0.02% | |||||||||||||||
| ^Karykion, Corporation dba Karykion Corporation | Professional, Scientific, and Technical Services | Term Loan | 6% | 6/28/2022 | 144.4 | 144.8 | 140.4 | 0.07% | |||||||||||||||
| ^Kantz LLC and Kantz Auto LLC dba Kantz's Hometown Auto | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 10/29/2039 | 63.4 | 63.5 | 57.2 | 0.03% | |||||||||||||||
| Krishna of Orangeburg, Inc. | Accommodation | Term Loan | 6% | 2/20/2032 | 10.3 | 10.3 | 5.6 | —% | |||||||||||||||
| ^Kup's Auto Spa Inc | Repair and Maintenance | Term Loan | 6.25% | 11/15/2038 | 373.2 | 374.1 | 351.8 | 0.17% | |||||||||||||||
| Kup’s Auto Spa, Inc. | Repair and Maintenance | Term Loan | 6.25% | 10/23/2025 | 59.1 | 59.3 | 55.7 | 0.03% | |||||||||||||||
| ^Las Torres Development LLC dba Houston Event Centers | Real Estate | Term Loan | 6% | 8/27/2028 | 51.0 | 51.0 | 4.0 | —% | |||||||||||||||
| ^M and C Renovations Inc | Construction of Buildings | Term Loan | Prime plus 2.75% | 10/31/2024 | 15.9 | 16.0 | 12.1 | 0.01% | |||||||||||||||
| ^Matchless Transportation LLC dba First Class Limo | Transit and Ground Passenger Transportation | Term Loan | 6.25% | 8/3/2022 | 126.4 | 126.7 | 17.5 | 0.01% | |||||||||||||||
| ^Milliken and Milliken, Inc. dba Milliken Wholesale Distribution | Merchant Wholesalers, Durable Goods | Term Loan | 6% | 6/10/2036 | 152.8 | 152.9 | 140.3 | 0.07% | |||||||||||||||
| ^Mojo Brands Media, LLC | Broadcasting (except Internet) | Term Loan | 6% | 8/28/2023 | 723.1 | 725.0 | 486.9 | 0.23% | |||||||||||||||
| Morris Glass and Construction | Specialty Trade Contractors | Term Loan | 6% | 3/7/2021 | 44.8 | 44.8 | 3.0 | —% | |||||||||||||||
| ^New Paltz Dental Care, PLLC dba Ariel Dental Care | Ambulatory Health Care Services | Term Loan | 6% | 6/19/2025 | 97.3 | 97.5 | 88.4 | 0.04% | |||||||||||||||
| Our Two Daughters L.L.C. dba Washington's Restaurant | Food Services and Drinking Places | Term Loan | 6% | 6/18/2026 | 169.8 | 170.3 | 22.7 | 0.01% | |||||||||||||||
| ^E & I Holdings, LP & PA Farm Products, LLC | Food Manufacturing | Term Loan | 6% | 4/30/2030 | 1,227.7 | 1,230.8 | 436.4 | 0.21% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| ^NB & T Services, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 4/27/2026 | 36.5 | 36.6 | — | —% | |||||||||||||||
| Professional Systems, LLC and Professional Cleaning | Administrative and Support Services | Term Loan | 6% | 7/30/2020 | 132.0 | 132.1 | 7.2 | —% | |||||||||||||||
| ^Route 130 SCPI Holdings LLC (EPC) Route 130 SCPI Operations LLC (OC) d | Food Services and Drinking Places | Term Loan | 6.25% | 9/30/2039 | 535.1 | 536.4 | 368.5 | 0.18% | |||||||||||||||
| ^Seven Stars Enterprises, Inc. dba Atlanta Bread Company | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 6/30/2018 | 18.8 | 18.8 | 18.5 | 0.01% | |||||||||||||||
| Sheikh M Tariq dba Selbyville Foodrite | Gasoline Stations | Term Loan | 6% | 3/13/2023 | 21.2 | 21.2 | — | —% | |||||||||||||||
| ^Shivsakti, LLC dba Knights Inn | Accommodation | Term Loan | 6.25% | 12/20/2032 | 69.7 | 69.9 | 62.9 | 0.03% | |||||||||||||||
| ^STK Ventures Inc dba JP Dock Service & Supply | Specialty Trade Contractors | Term Loan | 6% | 5/9/2037 | 31.6 | 31.6 | 2.3 | —% | |||||||||||||||
| Stormwise South Florida dba Stormwise Shutters | Specialty Trade Contractors | Term Loan | 6% | 11/7/2036 | 403.1 | 404.1 | 324.8 | 0.16% | |||||||||||||||
| Stormwise South Florida dba Stormwise Shutters | Specialty Trade Contractors | Term Loan | 6% | 8/26/2024 | 201.1 | 201.6 | — | —% | |||||||||||||||
| Tequila Beaches, LLC dba Fresco Restaurant | Food Services and Drinking Places | Term Loan | 6% | 9/16/2021 | 0.2 | 0.2 | 0.2 | —% | |||||||||||||||
| ^The Conibear Corporation and Conibear Trucking, LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 12/5/2024 | 7.9 | 7.9 | 0.9 | —% | |||||||||||||||
| The Lucky Coyote, LLC | Miscellaneous Manufacturing | Term Loan | 6% | 5/8/2017 | 6.2 | 6.2 | 2.3 | —% | |||||||||||||||
| ^Will Zac Management LLC dba Papa John's | Food Services and Drinking Places | Term Loan | 6.25% | 12/19/2024 | 42.4 | 42.5 | 41.3 | 0.02% | |||||||||||||||
| ^Winter Ventures Inc and 214 N Franklin LLC | Nonstore Retailers | Term Loan | 6% | 4/29/2024 | 56.5 | 56.6 | — | —% | |||||||||||||||
| ^Winter Ventures Inc dba Qualitybargainbooks and Qualitybargainmall | Nonstore Retailers | Term Loan | 6% | 12/23/2024 | 149.1 | 149.3 | — | —% | |||||||||||||||
| ^Winter Ventures Inc dba Qualitybargainbooks and Qualitybargainmall | Nonstore Retailers | Term Loan | 6% | 4/3/2029 | 134.4 | 134.5 | — | —% | |||||||||||||||
| ^Wired LLC and Moulison North Corporation | Specialty Trade Contractors | Term Loan | 6.25% | 6/30/2024 | 325.2 | 326.0 | 306.6 | 0.15% | |||||||||||||||
| ^Wired LLC and Moulison North Corporation | Specialty Trade Contractors | Term Loan | 6.25% | 7/3/2024 | 137.9 | 138.3 | 13.8 | 0.01% | |||||||||||||||
| Woody's Trucking LLC | Truck Transportation | Term Loan | Prime plus 2.75% | 1/12/2026 | 11.7 | 11.7 | 3.1 | —% | |||||||||||||||
| Total Non-Performing SBA Unguaranteed Investments | $ | 14,879.8 | $ | 14,933.6 | $ | 8,584.6 | 4.11% | ||||||||||||||||
| Total SBA Unguaranteed Investments | $ | 250,544.4 | $ | 219,784.2 | $ | 211,471.2 | 101.14% | ||||||||||||||||
| Performing SBA Guaranteed Investments (4) | |||||||||||||||||||||||
| HMG Strategy, LLC | Professional, Scientific, and Technical Services | Term Loan | Prime plus 2.75% | 12/14/2026 | 200.0 | 150.0 | 165.9 | 0.08% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| Techni-Pro Institute LLC | Educational Services | Term Loan | Prime plus 2.75% | 12/15/2026 | 760.0 | 570.0 | 630.6 | 0.30% | |||||||||||||||
| Sempco, Inc. | Miscellaneous Manufacturing | Term Loan | Prime plus 2.75% | 12/15/2041 | 168.0 | 126.0 | 142.3 | 0.07% | |||||||||||||||
| Means Enterprises LLC dba FastFrame Frisco | Furniture and Home Furnishings Stores | Term Loan | Prime plus 2.75% | 12/16/2026 | 150.0 | 127.5 | 141.1 | 0.07% | |||||||||||||||
| New Image Building Services, Inc.dba The Maids Servicing Oakland &Maco | Administrative and Support Services | Term Loan | Prime plus 2.75% | 12/21/2026 | 175.0 | 131.3 | 145.2 | 0.07% | |||||||||||||||
| Jacliff Investments Inc. dba International health Technologies | Publishing Industries (except Internet) | Term Loan | Prime plus 2.75% | 12/23/2026 | 500.0 | 375.0 | 414.9 | 0.20% | |||||||||||||||
| Joshua L. Baker | Insurance Carriers and Related Activities | Term Loan | Prime plus 2.75% | 12/23/2026 | 105.0 | 89.3 | 98.7 | 0.05% | |||||||||||||||
| Sand Hill Associates, Ltd. dba Charlie O's Tavern on the Point | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/27/2041 | 1,679.5 | 1,259.6 | 1,420.2 | 0.68% | |||||||||||||||
| Fort Smith Wings Inc. dba Wing Stop | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/28/2026 | 130.0 | 110.5 | 122.2 | 0.06% | |||||||||||||||
| Elite Structures Inc | Fabricated Metal Product Manufacturing | Term Loan | Prime plus 2.75% | 10/27/2029 | 900.0 | 675.0 | 754.3 | 0.36% | |||||||||||||||
| Angelo Faia dba AVF Construction | Construction of Buildings | Term Loan | Prime plus 2.75% | 5/27/2041 | 394.9 | 296.1 | 334.3 | 0.16% | |||||||||||||||
| Franklin Firm LLC dba Luv 2 Play | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 7/15/2041 | 691.5 | 518.7 | 585.4 | 0.28% | |||||||||||||||
| Shooting Sports Academy LLC and Jetaa LLC dba Shooting Sports Academy | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 6/23/2041 | 1,500.0 | 1,125.0 | 1,268.4 | 0.61% | |||||||||||||||
| Worldwide Estate, Inc. dba Washington Heights Manor | Nursing and Residential Care Facilities | Term Loan | Prime plus 2.75% | 10/21/2041 | 900.0 | 467.3 | 527.7 | 0.25% | |||||||||||||||
| Bear Creek Entertainment LLC dba The Woods at Bear Creek | Accommodation | Term Loan | Prime plus 2.75% | 8/12/2041 | 1,750.0 | 837.3 | 944.0 | 0.45% | |||||||||||||||
| Nevey's LLC dba Stark Food III | Food and Beverage Stores | Term Loan | Prime plus 2.75% | 6/30/2041 | 1,175.5 | 739.7 | 833.0 | 0.40% | |||||||||||||||
| Sambella Holdings, LLC and Strike Zone Entertainment Center LLC | Amusement, Gambling, and Recreation Industries | Term Loan | Prime plus 2.75% | 12/24/2041 | 2,000.0 | 1,099.4 | 1,240.3 | 0.59% | |||||||||||||||
| Middlesex Auto Sales Corp | Motor Vehicle and Parts Dealers | Term Loan | Prime plus 2.75% | 10/31/2041 | 500.0 | 142.5 | 160.9 | 0.08% | |||||||||||||||
| 131 Miles LLC and Ohm Shubh Laxmi, LLC. dba Mr Hero | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/3/2041 | 510.1 | 107.5 | 121.1 | 0.06% | |||||||||||||||
| Surgarloaf Concepts LLC dba Fat Biscuit | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/8/2026 | 675.0 | 287.6 | 317.9 | 0.15% | |||||||||||||||
| MIK LLC dba Firehouse Subs | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 11/9/2026 | 800.0 | 490.0 | 542.1 | 0.26% | |||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
| Roast Beef Levittown LLC dba Arby's | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 12/13/2026 | 1,860.0 | 163.7 | 180.8 | 0.09% | |||||||||||||||
| Imaginarium Foods LLC, | Food Services and Drinking Places | Term Loan | Prime plus 2.75% | 2/28/2042 | 1,506.9 | 373.3 | 421.0 | 0.20% | |||||||||||||||
| Total SBA Guaranteed Performing Investments | $ | 19,031.4 | $ | 10,262.3 | $ | 11,512.3 | 5.51% | ||||||||||||||||
| Total SBA Unguaranteed and Guaranteed Investments | $ | 269,575.8 | $ | 230,046.5 | $ | 222,983.5 | 106.64% | ||||||||||||||||
| Controlled Investments (5) | |||||||||||||||||||||||
Advanced Cyber Security Systems, LLC (6) (16) | Data processing, hosting and related services. | 50% Membership Interest | —% | — | — | — | — | —% | |||||||||||||||
| Term Loan | 3% | December 2014 | 1,120.0 | 381.0 | — | —% | |||||||||||||||||
*Automated Merchant Services, Inc. (7) (16) | Data processing, hosting and related services. | 100% Common Stock | —% | — | — | — | — | —% | |||||||||||||||
CDS Business Services, Inc. (8) | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 100% Common Stock | —% | — | — | 4,428.0 | 750.0 | 0.36% | |||||||||||||||
| Line of Credit | Prime Plus 2.5% | August 2018 | 2,690.0 | 2,690.0 | 2,690.0 | 1.29% | |||||||||||||||||
CrystalTech Web Hosting, Inc. (11) | Data processing, hosting and related services. | 100% Common Stock | —% | — | — | 8,434.0 | 20,109.0 | 9.62% | |||||||||||||||
*Fortress Data Management, LLC (16) | Data processing, hosting and related services. | 100% Membership Interest | —% | — | — | — | — | —% | |||||||||||||||
Newtek Insurance Agency, LLC (13) (16) | Insurance Carriers and Related Activities | 100% Membership Interests | —% | — | — | — | 2,500.0 | 1.20% | |||||||||||||||
PMTWorks Payroll, LLC (9) | Data processing, hosting and related services. | 100% Membership Interests | —% | — | — | 725.1 | 860.0 | 0.41% | |||||||||||||||
| Term Loan | 10%-12% | Various maturities through May 2018 | 1,685.0 | 1,685.0 | 1,185.0 | 0.57% | |||||||||||||||||
Secure CyberGateway Services, LLC (10) (16) | Data processing, hosting and related services. | 66.7% Membership Interests | —% | — | — | — | — | —% | |||||||||||||||
| Term Loan | 7% | June 2017 | 2,400.0 | 300.0 | — | —% | |||||||||||||||||
Small Business Lending, LLC. (12) (16) | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 100% Membership Interest | —% | — | — | — | 3,300.0 | 1.58% | |||||||||||||||
Titanium Asset Management LLC (15) (16) | Administrative and Support Services | 100% Membership Interest | —% | — | — | — | — | —% | |||||||||||||||
| Term Loan | 3% | July 2017 | 2,200.0 | 660.4 | 508.1 | 0.24% | |||||||||||||||||
| NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES CONSOLIDATED SCHEDULE OF INVESTMENTS DECEMBER 31, 2016 (In Thousands) | |||||||||||||||||||||||
| Portfolio Company | Industry | Type of Investment | Interest Rate (2) | Maturity | Principal | Cost | Fair Value | % of Net Assets | |||||||||||||||
ADR Partners, LLC dba banc-serv Partners, LLC (12) | Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 100% Membership Interest | —% | — | — | 5,260.3 | 5,400.0 | 2.58% | |||||||||||||||
*Summit Systems and Designs, LLC (14) (16) | Data processing, hosting and related services. | 100% Membership Interest | —% | — | — | — | — | —% | |||||||||||||||
Premier Payments LLC (11) | Data processing, hosting and related services. | 100% Membership Interest | —% | — | — | 16,438.0 | 21,000.0 | 10.04% | |||||||||||||||
Universal Processing Services of Wisconsin, LLC (11) (16) | Data processing, hosting and related services. | 100% Membership Interest | —% | — | — | — | 63,000.0 | 30.13% | |||||||||||||||
| Total Controlled Investments | $ | 10,095.0 | $ | 41,001.8 | $ | 121,302.1 | 58.01% | ||||||||||||||||
| Non-control/Non-affiliate Investments | |||||||||||||||||||||||
| Excel WebSolutions, LLC | Data processing, hosting and related services. | Term Loan | 10% | September 2018 | $ | 1,020.2 | $ | 903.5 | $ | 903.5 | 0.43% | ||||||||||||
| Warrants | —% | — | — | — | — | —% | |||||||||||||||||
| $ | 1,020.2 | $ | 903.5 | $ | 903.5 | 0.43% | |||||||||||||||||
| Investments in Money Market Funds | |||||||||||||||||||||||
| UBS Select Treasury Institutional Fund - 0.29% yield | $ | 9.6 | $ | 9.6 | $ | 9.6 | —% | ||||||||||||||||
| Peapack Gladstone High Yield IMMA - 0.30% yield | 25.8 | 25.8 | 25.8 | 0.01% | |||||||||||||||||||
| Total Money Market Funds | $ | 35.4 | $ | 35.4 | $ | 35.4 | 0.02% | ||||||||||||||||
| Total Investments | $ | 280,726.4 | $ | 271,987.2 | $ | 345,224.5 | 165.10% | ||||||||||||||||
NOTES TO | ||||||||||||||
| March 31, 2024 | March 31, 2023 | December 31, 2023 | ||||||||||||||||||
| Cash and due from banks | $ | 12,295 | $ | 29,103 | $ | 15,398 | ||||||||||||||
| Restricted cash | 35,759 | 73,421 | 30,919 | |||||||||||||||||
| Interest bearing deposits in banks | 115,152 | 94,620 | 137,689 | |||||||||||||||||
| Cash and restricted cash | $ | 163,206 | $ | 197,144 | $ | 184,006 | ||||||||||||||
| Purchase price consideration | $ | 21,281 | |||
| Fair value of assets acquired: | |||||
| Cash and due from banks | 29,138 | ||||
| Interest-bearing deposits in banks | 3,284 | ||||
| Total cash and cash equivalents | 32,422 | ||||
| Available-for-sale securities (at fair value) | 5,004 | ||||
| Other investments | 1,226 | ||||
| Loans receivable | 159,155 | ||||
| Federal Reserve Bank stock, at cost | 54 | ||||
| Federal Home Loan Bank stock, at cost | 1,470 | ||||
| Accrued interest receivable | 353 | ||||
| Deferred income taxes | 495 | ||||
| Goodwill | 271 | ||||
| Core deposit intangible | 1,040 | ||||
| Other assets | 399 | ||||
| Total assets | $ | 201,889 | |||
| Fair value of liabilities assumed: | |||||
| Deposits: | |||||
| Demand | $ | 21,878 | |||
| Savings, Super NOW, and Money Market | 10,975 | ||||
| Certificates of deposit | 104,162 | ||||
| Total deposits | 137,015 | ||||
| Advances from the Federal Home Loan Bank | 27,817 | ||||
| Accrued expenses and other liabilities | 15,776 | ||||
| Total liabilities | $ | 180,608 | |||
| September 30, 2017 | December 31, 2016 | |||||||||||||||
| Cost | Fair Value | Cost | Fair Value | |||||||||||||
| Money market funds | $ | 9 | $ | 9 | $ | 35 | $ | 35 | ||||||||
| Non-affiliate debt investments | 286,769 | 281,224 | 230,950 | 223,887 | ||||||||||||
| Controlled investments | ||||||||||||||||
| Equity | 46,356 | 128,020 | 35,285 | 116,919 | ||||||||||||
| Debt | 12,535 | 8,929 | 5,716 | 4,383 | ||||||||||||
| Total investments | $ | 345,669 | $ | 418,182 | $ | 271,986 | $ | 345,224 | ||||||||
| Par value (unpaid principal balance) | $ | 42,443 | |||
| ACL at acquisition | (870) | ||||
| Non-credit (discount) | (1,559) | ||||
| Fair Value | $ | 40,014 | |||
| March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||
| Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||||
| Debt securities available-for-sale, at fair value | $ | 28,319 | $ | 28,127 | $ | 32,372 | $ | 32,171 | ||||||||||||||||||
| Federal Home Loan Bank and Federal Reserve Bank stock | 3,773 | 3,773 | 3,635 | 3,635 | ||||||||||||||||||||||
| Non-controlled investments | 772 | 728 | 796 | 728 | ||||||||||||||||||||||
| Joint ventures, at fair value | 45,108 | 48,247 | 37,864 | 40,859 | ||||||||||||||||||||||
| Total investments | $ | 77,972 | $ | 80,875 | $ | 74,667 | $ | 77,393 | ||||||||||||||||||
| Selected Statement of Assets and Liabilities Information (Unaudited) | March 31, 2024 | December 31, 2023 | |||||||||
| Cash | $ | 677 | $ | 612 | |||||||
| Restricted cash | 4,145 | 3,298 | |||||||||
| Investments in loans, at fair value (amortized cost of $62,158 and $70,083, respectively) | 62,158 | 70,083 | |||||||||
| Other Assets | 1,612 | 1,614 | |||||||||
| Total assets | 68,592 | 75,607 | |||||||||
| Securitization notes payable | $ | 33,799 | $ | 38,805 | |||||||
| Other liabilities | 885 | 905 | |||||||||
| Total liabilities | 34,684 | 39,710 | |||||||||
| Net assets | 33,908 | 35,897 | |||||||||
| Total liabilities and net assets | $ | 68,592 | $ | 75,607 | |||||||
| Selected Statements of Operations Information (Unaudited) | Three Months Ended March 31, | ||||||||||||||||||||||||||||
| 2024 | 2023 | ||||||||||||||||||||||||||||
| Interest and other income | $ | 1,373 | $ | 1,644 | |||||||||||||||||||||||||
| Total expenses | 472 | 659 | |||||||||||||||||||||||||||
| Net investment income | 901 | 985 | |||||||||||||||||||||||||||
| Unrealized (depreciation) appreciation on investments | (2,131) | 712 | |||||||||||||||||||||||||||
| Net (decrease) increase in net assets resulting from operations | $ | (1,230) | $ | 1,697 | |||||||||||||||||||||||||
| Selected Statement of Assets and Liabilities Information (Unaudited) | March 31, 2024 | December 31, 2023 | |||||||||
| Cash | $ | 1,728 | $ | 4,401 | |||||||
| Restricted cash | 4,356 | 1,183 | |||||||||
| Investments in loans, at fair value (amortized cost of $93,945 and $66,689, respectively) | 93,945 | 66,689 | |||||||||
| Other assets | 1,542 | 1,374 | |||||||||
| Total assets | $ | 101,571 | $ | 73,647 | |||||||
| Bank notes payable | $ | 40,986 | $ | 29,636 | |||||||
| Other liabilities | 591 | 1,092 | |||||||||
| Total liabilities | 41,577 | 30,728 | |||||||||
| Net assets | 59,994 | 42,919 | |||||||||
| Total net assets | $ | 101,571 | $ | 73,647 | |||||||
| Selected Statements of Operations Information (Unaudited) | Three Months Ended March 31, | ||||||||||||||||||||||||||||
| 2024 | 2023 | ||||||||||||||||||||||||||||
| Interest and other income | $ | 2,343 | $ | 615 | |||||||||||||||||||||||||
| Total expenses | 1,464 | 550 | |||||||||||||||||||||||||||
| Net investment income | 879 | 65 | |||||||||||||||||||||||||||
| Unrealized appreciation (depreciation) on investments | 872 | (513) | |||||||||||||||||||||||||||
| Realized loss on investments | — | (16) | |||||||||||||||||||||||||||
| Realized gain on derivative transactions | 265 | 275 | |||||||||||||||||||||||||||
| Unrealized gain (loss) on derivative transactions | 574 | (436) | |||||||||||||||||||||||||||
| Net increase (decrease) in net assets resulting from operations | $ | 2,590 | $ | (625) | |||||||||||||||||||||||||
| September 30, 2017 | December 31, 2016 | |||||||||||||||
| Cost | Fair Value | Cost | Fair Value | |||||||||||||
| Data processing, hosting and related services | $ | 29,583 | $ | 103,605 | $ | 29,010 | $ | 107,180 | ||||||||
| Food Services and Drinking Places | 28,314 | 27,752 | 21,941 | 21,702 | ||||||||||||
| Amusement, Gambling, and Recreation Industries | 19,452 | 20,037 | 18,486 | 18,995 | ||||||||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 18,302 | 19,966 | 12,909 | 12,649 | ||||||||||||
| Ambulatory Health Care Services | 14,474 | 13,645 | 13,068 | 11,976 | ||||||||||||
| Repair and Maintenance | 12,990 | 13,391 | 12,066 | 12,228 | ||||||||||||
| Professional, Scientific, and Technical Services | 27,676 | 27,171 | 12,240 | 11,582 | ||||||||||||
| Accommodation | 10,566 | 11,243 | 9,455 | 9,849 | ||||||||||||
| Specialty Trade Contractors | 9,029 | 8,712 | 8,311 | 7,595 | ||||||||||||
| Merchant Wholesalers, Durable Goods | 6,404 | 6,330 | 6,211 | 5,989 | ||||||||||||
| Truck Transportation | 15,483 | 14,615 | 7,469 | 6,938 | ||||||||||||
| Food and Beverage Stores | 5,187 | 5,160 | 5,221 | 5,194 | ||||||||||||
| Heavy and Civil Engineering Construction | 4,530 | 4,430 | 4,328 | 4,209 | ||||||||||||
| Fabricated Metal Product Manufacturing | 11,113 | 11,511 | 5,922 | 5,961 | ||||||||||||
| Administrative and Support Services | 5,873 | 5,268 | 6,379 | 5,727 | ||||||||||||
| Social Assistance | 6,869 | 7,013 | 4,903 | 4,905 | ||||||||||||
| Motor Vehicle and Parts Dealers | 5,059 | 5,156 | 5,059 | 5,051 | ||||||||||||
| Food Manufacturing | 9,437 | 7,507 | 5,596 | 4,873 | ||||||||||||
| Transit and Ground Passenger Transportation | 3,482 | 3,302 | 1,836 | 1,703 | ||||||||||||
| Clothing and Clothing Accessories Stores | 3,600 | 3,675 | 4,221 | 4,134 | ||||||||||||
| Personal and Laundry Services | 10,333 | 10,861 | 4,255 | 4,206 | ||||||||||||
| Gasoline Stations | 6,136 | 5,807 | 5,938 | 5,570 | ||||||||||||
| Printing and Related Support Activities | 3,790 | 3,495 | 3,547 | 3,183 | ||||||||||||
| Insurance Carriers and Related Activities | 833 | 3,366 | 1,126 | 3,631 | ||||||||||||
| Other | 77,154 | 75,164 | 62,489 | 60,194 | ||||||||||||
| Total | $ | 345,669 | $ | 418,182 | $ | 271,986 | $ | 345,224 | ||||||||
| Company | Fair Value at December 31, 2023 | Purchases (Cost) | Principal Received | Return of Investment | Net Realized Gains/(Losses) | Net Unrealized Gains/(Losses) | Fair Value at March 31, 2024 | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||||||||
| Joint Ventures | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Newtek Conventional Lending, LLC | $ | 19,400 | $ | — | $ | — | $ | — | $ | — | $ | (1,150) | $ | 18,250 | $ | 379 | ||||||||||||||||||||||||||||||||||||||||
| Newtek TSO II Conventional Credit Partners, LP | 21,459 | 7,243 | — | — | — | 1,295 | 29,997 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total Joint Ventures | $ | 40,859 | $ | 7,243 | $ | — | $ | — | $ | — | $ | 145 | $ | 48,247 | $ | 379 | ||||||||||||||||||||||||||||||||||||||||
| Non-Control Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EMCAP Loan Holdings, LLC | $ | 368 | $ | — | $ | — | $ | (24) | $ | — | $ | 24 | $ | 368 | $ | 7 | ||||||||||||||||||||||||||||||||||||||||
| Biller Genie Software, LLC | 360 | — | — | — | — | — | 360 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total Non-Control Investments | $ | 728 | $ | — | $ | — | $ | (24) | $ | — | $ | 24 | $ | 728 | $ | 7 | ||||||||||||||||||||||||||||||||||||||||
| Total Affiliate Investments | $ | 41,587 | $ | 7,243 | $ | — | $ | (24) | $ | — | $ | 169 | $ | 48,975 | $ | 386 | ||||||||||||||||||||||||||||||||||||||||
| Company | Fair Value at December 31, 2022 | Purchases (Cost) | Principal Received | Return of Investment | Net Realized Gains/(Losses) | Net Unrealized Gains/(Losses) | Fair Value at March 31, 2023 | Dividend Income | ||||||||||||||||||||||||||||||||||||||||||||||||
| Joint Ventures | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Newtek Conventional Lending, LLC | $ | 16,587 | $ | — | $ | — | $ | — | $ | — | $ | 2,313 | $ | 18,900 | $ | 484 | ||||||||||||||||||||||||||||||||||||||||
| Newtek TSO II Conventional Credit Partners, LP | 6,435 | — | — | — | — | (313) | 6,122 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total Joint Ventures | $ | 23,022 | $ | — | $ | — | $ | — | $ | — | $ | 2,000 | $ | 25,022 | $ | 484 | ||||||||||||||||||||||||||||||||||||||||
| Non-Control Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EMCAP Loan Holdings, LLC | $ | 1,000 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,000 | $ | 20 | ||||||||||||||||||||||||||||||||||||||||
| Biller Genie Software, LLC | 360 | — | — | — | — | — | 360 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total Non-Control Investments | $ | 1,360 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,360 | $ | 20 | ||||||||||||||||||||||||||||||||||||||||
| Total Affiliate Investments | $ | 24,382 | $ | — | $ | — | $ | — | $ | — | $ | 2,000 | $ | 26,382 | $ | 504 | ||||||||||||||||||||||||||||||||||||||||
| Portfolio Company | Fair Value at December 31, 2016 | Purchases (Cost) | Principal Received (Cost) | Net Realized Gains/(Losses) | Net Unrealized Gains/(Losses) | Fair Value at September 30, 2017 | Interest and Other Income | Dividend Income | ||||||||||||||||||||||||
| Controlled Investments | ||||||||||||||||||||||||||||||||
| Universal Processing Services of Wisconsin, LLC | $ | 63,000 | $ | — | $ | — | $ | — | $ | 3,000 | $ | 66,000 | $ | — | $ | 5,250 | ||||||||||||||||
| Premier Payments LLC | 21,000 | — | — | — | — | 21,000 | — | 1,200 | ||||||||||||||||||||||||
| Newtek Technology Solutions, Inc. | 20,109 | — | (50 | ) | — | (4,059 | ) | 16,000 | — | — | ||||||||||||||||||||||
| International Professional Marketing, Inc. (1) | — | 10,000 | (1,000 | ) | — | — | 9,000 | 6 | 550 | |||||||||||||||||||||||
| banc-serv Partners, LLC | 5,400 | — | — | — | (2,000 | ) | 3,400 | — | — | |||||||||||||||||||||||
| CDS Business Services, Inc. | 3,440 | 15,703 | (10,498 | ) | — | 4,750 | 13,395 | 376 | 200 | |||||||||||||||||||||||
| Small Business Lending, LLC | 3,300 | — | — | — | (800 | ) | 2,500 | — | 100 | |||||||||||||||||||||||
| Newtek Insurance Agency, LLC | 2,500 | — | — | — | — | 2,500 | — | — | ||||||||||||||||||||||||
| PMTWorks Payroll, LLC | 2,045 | 1,000 | — | — | (3,045 | ) | — | — | — | |||||||||||||||||||||||
| Titanium Asset Management LLC | 508 | — | (466 | ) | — | (42 | ) | — | 6 | — | ||||||||||||||||||||||
| Excel WebSolutions, LLC | 904 | — | (368 | ) | — | (47 | ) | 489 | 56 | — | ||||||||||||||||||||||
| SIDCO, LLC | — | 2,665 | — | — | — | 2,665 | 2 | — | ||||||||||||||||||||||||
| Summit Systems and Designs, LLC | — | — | — | — | — | — | 54 | — | ||||||||||||||||||||||||
| Secure CyberGateway Services, LLC | — | — | — | — | — | — | 10 | 26 | ||||||||||||||||||||||||
| Total Controlled Investments | $ | 122,206 | $ | 29,368 | $ | (12,382 | ) | $ | — | $ | (2,243 | ) | $ | 136,949 | $ | 510 | $ | 7,326 | ||||||||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
| Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | ||||||||||||||||||||||||||||||||||||||||
| U.S. Treasury notes | $ | 25,319 | $ | — | $ | 87 | $ | 25,232 | $ | 29,372 | $ | — | $ | 67 | $ | 29,305 | |||||||||||||||||||||||||||||||
| Government agency debentures | 3,000 | — | 105 | 2,895 | 3,000 | — | 134 | 2,866 | |||||||||||||||||||||||||||||||||||||||
| Total available for sale securities | $ | 28,319 | $ | — | $ | 192 | $ | 28,127 | $ | 32,372 | $ | — | $ | 201 | $ | 32,171 | |||||||||||||||||||||||||||||||
| March 31, 2024 | |||||||||||||||||||||||||||||||||||||||||
| Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||||||||
| Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Number of Holdings | Fair Value | Unrealized Losses | |||||||||||||||||||||||||||||||||||
| U.S. Treasury notes | $ | 25,232 | $ | (87) | $ | — | $ | — | 1 | $ | 25,232 | $ | (87) | ||||||||||||||||||||||||||||
| Government agency debentures | 2,895 | (105) | — | — | 2 | 2,895 | (105) | ||||||||||||||||||||||||||||||||||
| Total | $ | 28,127 | $ | (192) | $ | — | $ | — | $ | 3 | $ | 28,127 | $ | (192) | |||||||||||||||||||||||||||
| December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||
| Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||||||||
| Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Number of Holdings | Fair Value | Unrealized Losses | |||||||||||||||||||||||||||||||||||
| U.S. Treasury notes | $ | 29,305 | $ | 67 | $ | — | $ | — | 1 | $ | 29,305 | $ | 67 | ||||||||||||||||||||||||||||
| Government agency debentures | 2,866 | 134 | — | — | 2 | 2,867 | 134 | ||||||||||||||||||||||||||||||||||
| Total | $ | 32,171 | $ | 201 | $ | — | $ | — | $ | 3 | $ | 32,172 | $ | 201 | |||||||||||||||||||||||||||
| March 31, 2024 | At December 31, 2023 | ||||||||||||||||||||||
| Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||
| Maturing within 1 year | $ | 16,713 | $ | 16,588 | $ | 32,372 | $ | 32,171 | |||||||||||||||
| After 1 year through 5 years | 11,606 | 11,539 | — | — | |||||||||||||||||||
| Total available for sale securities | $ | 28,319 | $ | 28,127 | $ | 32,372 | $ | 32,171 | |||||||||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||
| Pledged for deposits | $ | — | $ | — | |||||||
| Pledged for borrowings and other | 28,127 | 30,730 | |||||||||
| Total available for sale securities pledged | $ | 28,127 | $ | 30,730 | |||||||
| Loans Held for Investment, at Fair Value | ||||||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||
| Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||||
| Food Services and Drinking Places | $ | 41,147 | $ | 41,361 | $ | 43,779 | $ | 43,955 | ||||||||||||||||||
| Specialty Trade Contractors | 39,276 | 34,659 | 40,193 | 35,451 | ||||||||||||||||||||||
| Professional, Scientific, and Technical Services | 34,584 | 33,734 | 36,248 | 35,377 | ||||||||||||||||||||||
| Ambulatory Health Care Services | 26,757 | 25,373 | 27,291 | 26,633 | ||||||||||||||||||||||
| Amusement, Gambling, and Recreation Industries | 18,923 | 20,281 | 21,289 | 22,839 | ||||||||||||||||||||||
| Administrative and Support Services | 20,521 | 18,847 | 21,319 | 19,521 | ||||||||||||||||||||||
| Merchant Wholesalers, Durable Goods | 19,815 | 18,476 | 21,873 | 21,152 | ||||||||||||||||||||||
| Repair and Maintenance | 15,513 | 16,584 | 15,886 | 17,005 | ||||||||||||||||||||||
| Merchant Wholesalers, Nondurable Goods | 13,841 | 13,662 | 15,623 | 15,573 | ||||||||||||||||||||||
| Personal and Laundry Services | 12,612 | 13,320 | 12,867 | 13,584 | ||||||||||||||||||||||
| Fabricated Metal Product Manufacturing | 11,825 | 12,608 | 12,439 | 13,205 | ||||||||||||||||||||||
| Truck Transportation | 15,138 | 11,156 | 15,590 | 12,113 | ||||||||||||||||||||||
| Construction of Buildings | 9,715 | 9,810 | 9,868 | 9,890 | ||||||||||||||||||||||
| Accommodation | 9,213 | 9,668 | 9,259 | 10,162 | ||||||||||||||||||||||
| Social Assistance | 8,730 | 9,547 | 8,857 | 9,721 | ||||||||||||||||||||||
| Food Manufacturing | 10,160 | 8,573 | 10,233 | 8,714 | ||||||||||||||||||||||
| Motor Vehicle and Parts Dealers | 8,055 | 8,358 | 9,046 | 9,382 | ||||||||||||||||||||||
| Transportation Equipment Manufacturing | 7,619 | 7,974 | 7,687 | 7,999 | ||||||||||||||||||||||
| Support Activities for Mining | 7,942 | 7,290 | 8,455 | 7,754 | ||||||||||||||||||||||
| Food and Beverage Stores | 6,750 | 7,058 | 7,026 | 7,306 | ||||||||||||||||||||||
| Rental and Leasing Services | 6,657 | 7,054 | 6,764 | 7,178 | ||||||||||||||||||||||
| Nursing and Residential Care Facilities | 6,126 | 6,581 | 6,182 | 6,709 | ||||||||||||||||||||||
| Building Material and Garden Equipment and Supplies Dealers | 5,876 | 5,750 | 7,384 | 6,781 | ||||||||||||||||||||||
| Educational Services | 5,148 | 5,356 | 5,368 | 5,636 | ||||||||||||||||||||||
| Other | 95,638 | 89,848 | 102,037 | 96,161 | ||||||||||||||||||||||
| Total | $ | 457,581 | $ | 442,928 | $ | 482,563 | $ | 469,801 | ||||||||||||||||||
| Loans Held for Investment, at Amortized Cost | ||||||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||
| SBA | $ | 214,038 | $ | 163,918 | ||||||||||
| CRE | 169,869 | 163,803 | ||||||||||||
| C&I | 13,404 | 8,191 | ||||||||||||
| Total Loans | 397,311 | 335,912 | ||||||||||||
| Deferred fees and costs, net | 314 | 393 | ||||||||||||
| Loans held for investment, at amortized cost, net of deferred fees and costs | $ | 397,625 | $ | 336,305 | ||||||||||
| As of March 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 30-59 Days Past Due and Accruing | 60-89 Days Past Due and Accruing | 90 or more Days Past Due and Accruing(1) | Non- accrual | Total past Due and Non-accrual | Current | Total Carried at Amortized Cost | Total Loans Accounted for Under the Fair Value Option | Total Loans Held for Investment | ||||||||||||||||||||||||||||||||||||||||||||||||
| At amortized cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SBA | $ | 9,818 | $ | — | $ | — | $ | 2,017 | $ | 11,835 | $ | 202,203 | $ | 214,038 | $ | — | $ | 214,038 | ||||||||||||||||||||||||||||||||||||||
| CRE | 326 | 946 | — | 5,998 | 7,270 | 162,599 | 169,869 | — | 169,869 | |||||||||||||||||||||||||||||||||||||||||||||||
| C&I | — | — | — | — | — | 13,404 | 13,404 | — | 13,404 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total, at amortized cost | $ | 10,144 | $ | 946 | $ | — | $ | 8,015 | $ | 19,105 | $ | 378,206 | $ | 397,311 | $ | — | $ | 397,311 | ||||||||||||||||||||||||||||||||||||||
| Deferred fees and costs | 314 | — | 314 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total, at amortized cost net of deferred fees and costs | $ | 397,625 | $ | — | $ | 397,625 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (16,126) | — | (16,126) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total, at amortized cost, net | $ | 381,499 | $ | — | $ | 381,499 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| At fair value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SBA | $ | 61,314 | $ | 548 | $ | 3,829 | $ | 46,001 | $ | 111,692 | $ | 331,236 | $ | — | $ | 442,928 | $ | 442,928 | ||||||||||||||||||||||||||||||||||||||
| Total loans held for investment | $ | 71,458 | $ | 1,494 | $ | 3,829 | $ | 54,016 | $ | 130,797 | $ | 709,442 | $ | 381,499 | $ | 442,928 | $ | 824,427 | ||||||||||||||||||||||||||||||||||||||
| As of December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 30-59 Days Past Due and Accruing | 60-89 Days Past Due and Accruing | 90 or more Days Past Due and Accruing | Non- accrual | Total past Due and Non-accrual | Current | Total Carried at Amortized Cost | Total Loans Accounted for Under the Fair Value Option | Total Loans Held for Investment | ||||||||||||||||||||||||||||||||||||||||||||||||
| At amortized cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SBA | $ | 3,637 | $ | 311 | $ | — | $ | 752 | $ | 4,700 | $ | 159,218 | $ | 163,918 | $ | — | $ | 163,918 | ||||||||||||||||||||||||||||||||||||||
| CRE | 948 | — | — | 4,621 | 5,569 | 158,234 | 163,803 | — | 163,803 | |||||||||||||||||||||||||||||||||||||||||||||||
| C&I | — | — | — | — | — | 8,191 | 8,191 | — | 8,191 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total, at amortized cost | $ | 4,585 | $ | 311 | $ | — | $ | 5,373 | $ | 10,269 | $ | 325,643 | $ | 335,912 | $ | — | $ | 335,912 | ||||||||||||||||||||||||||||||||||||||
| Deferred fees and costs | 393 | 393 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total, at amortized cost net of deferred fees and costs | $ | 336,305 | $ | — | $ | 336,305 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (12,574) | — | (12,574) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total, at amortized cost, net | $ | 323,731 | $ | — | $ | 323,731 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| At fair value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SBA | $ | 20,380 | $ | 16,075 | $ | — | $ | 48,174 | $ | 84,629 | $ | 385,172 | $ | — | $ | 469,801 | $ | 469,801 | ||||||||||||||||||||||||||||||||||||||
| Total loans held for investment | $ | 24,965 | $ | 16,386 | $ | — | $ | 53,547 | $ | 94,898 | $ | 710,815 | $ | 323,731 | $ | 469,801 | $ | 793,532 | ||||||||||||||||||||||||||||||||||||||
| Term Loans Held for Investment by Origination Year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
| SBA 7(a) Unguaranteed, net of deferred fees and costs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 1-4 | $ | 50,645 | $ | 154,273 | $ | — | $ | — | $ | — | $ | — | $ | 204,918 | ||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 5-6 | 771 | 8,349 | — | — | — | — | 9,120 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 7 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 8 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 51,416 | $ | 162,622 | $ | — | $ | — | $ | — | $ | — | $ | 214,038 | ||||||||||||||||||||||||||||||||||||||||||
| SBA, at fair value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 1-4 | $ | — | $ | 33,261 | $ | 145,730 | $ | 50,577 | $ | 26,696 | $ | 134,400 | $ | 390,664 | ||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 5-6 | — | 325 | 9,564 | 6,090 | 1,276 | 34,098 | 51,353 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 7 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 8 | — | — | 149 | 17 | 22 | 723 | 911 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | — | $ | 33,586 | $ | 155,443 | $ | 56,684 | $ | 27,994 | $ | 169,221 | $ | 442,928 | ||||||||||||||||||||||||||||||||||||||||||
| CRE | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 1-4 | $ | 10,101 | $ | 26,144 | $ | 33,519 | $ | 16,555 | $ | 399 | $ | 74,091 | $ | 160,809 | ||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 5-6 | — | — | — | 686 | 870 | 7,504 | 9,060 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 7 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 10,101 | $ | 26,144 | $ | 33,519 | $ | 17,241 | $ | 1,269 | $ | 81,595 | $ | 169,869 | ||||||||||||||||||||||||||||||||||||||||||
| C&I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 1-4 | $ | 2,901 | $ | 8,486 | $ | — | $ | — | $ | — | $ | 2,017 | $ | 13,404 | ||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 5-6 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 7 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 2,901 | $ | 8,486 | $ | — | $ | — | $ | — | $ | 2,017 | $ | 13,404 | ||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 64,418 | $ | 230,838 | $ | 188,962 | $ | 73,925 | $ | 29,263 | $ | 252,833 | $ | 840,239 | ||||||||||||||||||||||||||||||||||||||||||
| December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
| SBA 7(a) Unguaranteed, net of deferred fees and costs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 1-4 | $ | 161,263 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 161,263 | ||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 5-6 | 2,655 | — | — | — | — | — | 2,655 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 7 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 8 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 163,918 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 163,918 | ||||||||||||||||||||||||||||||||||||||||||
| SBA, at fair value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 1-4 | $ | 34,289 | $ | 151,929 | $ | 53,998 | $ | 27,870 | $ | 52,175 | $ | 94,751 | $ | 415,012 | ||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 5-6 | 349 | 8,968 | 5,813 | 1,257 | 11,764 | 25,727 | 53,878 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 7 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 8 | — | 149 | 17 | 22 | 16 | 707 | 911 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 34,638 | $ | 161,046 | $ | 59,828 | $ | 29,149 | $ | 63,955 | $ | 121,185 | $ | 469,801 | ||||||||||||||||||||||||||||||||||||||||||
| CRE | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 1-4 | $ | 53,567 | $ | 28,224 | $ | 14,590 | $ | — | $ | 8,888 | $ | 49,771 | $ | 155,040 | ||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 5-6 | — | — | 948 | 910 | 2,284 | 4,621 | 8,763 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 7 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 53,567 | $ | 28,224 | $ | 15,538 | $ | 910 | $ | 11,172 | $ | 54,392 | $ | 163,803 | ||||||||||||||||||||||||||||||||||||||||||
| C&I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 1-4 | $ | 6,174 | $ | — | $ | — | $ | — | $ | — | $ | 2,017 | $ | 8,191 | ||||||||||||||||||||||||||||||||||||||||||
| Risk Grades 5-6 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade 7 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 6,174 | $ | — | $ | — | $ | — | $ | — | $ | 2,017 | $ | 8,191 | ||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 258,297 | $ | 189,270 | $ | 75,366 | $ | 30,059 | $ | 75,127 | $ | 177,594 | $ | 805,713 | ||||||||||||||||||||||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
| CRE | C&I | SBA | Total | CRE | C&I | SBA | Total | ||||||||||||||||||||||||||||||||||||||||
| Beginning Balance | $ | 1,408 | $ | 314 | $ | 10,852 | 12,574 | $ | — | $ | — | $ | — | — | |||||||||||||||||||||||||||||||||
Adjustment to Beginning Balance due to PCD marks1 | — | — | — | 775 | 96 | — | 871 | ||||||||||||||||||||||||||||||||||||||||
| Charge offs | — | — | (370) | (370) | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Recoveries | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Provision for Credit Losses2 | (130) | (17) | 4,069 | 3,922 | 1,185 | 127 | 6 | 1,318 | |||||||||||||||||||||||||||||||||||||||
| Total | $ | 1,278 | $ | 297 | $ | 14,551 | $ | 16,126 | $ | 1,960 | $ | 223 | $ | 6 | $ | 2,189 | |||||||||||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
| ACL | CRE | C&I | SBA | Total | CRE | C&I | SBA | Total | |||||||||||||||||||||||||||||||||||||||
| Individually Evaluated | $ | — | $ | — | $ | 711 | $ | 711 | $ | — | $ | — | $ | 102 | $ | 102 | |||||||||||||||||||||||||||||||
| Collectively Evaluated | 1,278 | 297 | 13,840 | 15,415 | 1,408 | 314 | 10,750 | 12,472 | |||||||||||||||||||||||||||||||||||||||
| Total | $ | 1,278 | $ | 297 | $ | 14,551 | $ | 16,126 | $ | 1,408 | $ | 314 | $ | 10,852 | $ | 12,574 | |||||||||||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
| Recorded Investment | CRE | C&I | SBA | Total | CRE | C&I | SBA | Total | |||||||||||||||||||||||||||||||||||||||
| Individually Evaluated | $ | 5,998 | $ | — | $ | 1,881 | $ | 7,879 | $ | 4,621 | $ | — | $ | 727 | $ | 5,348 | |||||||||||||||||||||||||||||||
| Collectively Evaluated | 163,871 | 13,404 | 212,157 | 389,432 | 159,182 | 8,191 | 163,191 | 330,564 | |||||||||||||||||||||||||||||||||||||||
| Total | $ | 169,869 | $ | 13,404 | $ | 214,038 | $ | 397,311 | $ | 163,803 | $ | 8,191 | $ | 163,918 | $ | 335,912 | |||||||||||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||||||||||
| Nonaccrual without Allowance | Nonaccrual with Allowance | ACL | Nonaccrual without Allowance | Nonaccrual with Allowance | ACL | |||||||||||||||||||||||||||||||||
| SBA | $ | 710 | $ | 1,171 | $ | 711 | $ | 625 | $ | 102 | $ | 102 | ||||||||||||||||||||||||||
| CRE | 5,998 | — | — | 4,621 | — | — | ||||||||||||||||||||||||||||||||
| Total | $ | 6,708 | $ | 1,171 | $ | 711 | $ | 5,246 | $ | 102 | $ | 102 | ||||||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate Collateral | Unsecured | Total | ACL | Real Estate Collateral | Unsecured | Total | ACL | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SBA | $ | 625 | $ | 1,256 | $ | 1,881 | $ | 711 | $ | 625 | $ | 102 | $ | 727 | $ | 102 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CRE | 5,998 | — | 5,998 | — | 4,621 | — | 4,621 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 6,623 | 1,256 | 7,879 | 711 | $ | 5,246 | 102 | 5,348 | 102 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||
| At FV | At LCM | At FV | At LCM | |||||||||||||||||||||||
| SBA 504 First Lien | $ | 83,571 | $ | 39,381 | $ | 66,387 | $ | 38,787 | ||||||||||||||||||
| SBA 504 Second Lien | 28,102 | 6,850 | 20,757 | 5,741 | ||||||||||||||||||||||
| SBA 7(a) | 261 | 3,181 | 262 | 64 | ||||||||||||||||||||||
| SBA 7(a) Partials | 192 | 9,609 | 104 | 11,237 | ||||||||||||||||||||||
| ALP | 74,978 | — | 31,357 | — | ||||||||||||||||||||||
| Subtotal | 187,104 | 59,021 | 118,867 | 55,829 | ||||||||||||||||||||||
| Deferred fees and costs | — | 859 | — | 778 | ||||||||||||||||||||||
| Loans held for sale, net of deferred fees and costs | $ | 187,104 | $ | 59,880 | $ | 118,867 | $ | 56,607 | ||||||||||||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||
Due to affiliated companies1 | $ | 172 | $ | 158 | |||||||
Due from affiliated companies2 | 53 | 7 | |||||||||
| Total due to/due from affiliated companies | $ | 119 | $ | 151 | |||||||
| Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||||
| 2024 | 2023 | |||||||||||||||||||||||||||||||||||||
| Servicing income | $ | 348 | $ | 252 | ||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | |||||||||||||
| Managed technology services | $ | 186 | $ | 297 | $ | 656 | $ | 747 | ||||||||
| Loan related processing and auditing fees | 101 | 6 | 139 | 21 | ||||||||||||
| Referral fees | 54 | 8 | 82 | 8 | ||||||||||||
| Payroll processing | 10 | 9 | 29 | 26 | ||||||||||||
| Total | $ | 351 | $ | 320 | 906 | 802 | ||||||||||
| Portfolio Company | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||||
| Universal Processing Services of Wisconsin, LLC | $ | 39 | $ | 6 | $ | 110 | $ | 17 | ||||||||
| Small Business Lending, LLC | 19 | 34 | 61 | 76 | ||||||||||||
| Newtek Insurance Agency, LLC | 23 | 23 | 63 | 31 | ||||||||||||
| CDS Business Services, Inc. | 15 | 25 | 47 | 59 | ||||||||||||
| Premier Payments LLC | 10 | 19 | 35 | 40 | ||||||||||||
| PMTWorks Payroll, LLC | 12 | 8 | 37 | 19 | ||||||||||||
| Titanium Asset Management LLC | 6 | — | 13 | — | ||||||||||||
| Total | $ | 124 | $ | 115 | $ | 366 | $ | 242 | ||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||
| FDIC insured deposits | $ | 4,316 | $ | 4,388 | |||||||
| Non-FDIC insured deposits | 1,178 | 1,167 | |||||||||
| Total deposits from related parties and their affiliated companies | $ | 5,494 | $ | 5,555 | |||||||
| Portfolio Company | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||||
| Universal Processing Services of Wisconsin, LLC | $ | 101 | $ | 112 | $ | 314 | $ | 347 | ||||||||
| Newtek Technology Solutions, Inc. | 138 | 160 | 407 | 519 | ||||||||||||
| Newtek Insurance Agency, LLC | 57 | 52 | 161 | 187 | ||||||||||||
| Small Business Lending, LLC | 85 | 108 | 279 | 427 | ||||||||||||
| Premier Payments LLC | 38 | 56 | 135 | 142 | ||||||||||||
| International Professional Marketing, Inc. | 33 | — | 52 | — | ||||||||||||
| banc-serv Partners, LLC | 52 | 58 | 150 | 58 | ||||||||||||
| CDS Business Services, Inc. | 9 | — | 19 | — | ||||||||||||
| SIDCO, LLC | 20 | — | 35 | — | ||||||||||||
| Summit Systems and Designs, LLC | — | 5 | 10 | 15 | ||||||||||||
| Secure CyberGateway Services, LLC | — | — | 2 | — | ||||||||||||
| PMTWorks Payroll, LLC | 18 | 26 | 63 | 79 | ||||||||||||
| Total | $ | 551 | $ | 577 | $ | 1,627 | $ | 1,774 | ||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
| Weighted | Range | Weighted | Range | ||||||||||||||||||||||||||||||||||||||||||||
| Unobservable Input | Amount | Average | Minimum | Maximum | Amount | Average | Minimum | Maximum | |||||||||||||||||||||||||||||||||||||||
| Servicing Assets at FV: | $ | 27,601 | $ | 29,336 | |||||||||||||||||||||||||||||||||||||||||||
Discount factor1 | 13.50 | % | 13.50 | % | 13.50 | % | 13.50 | % | 13.50 | % | 13.50 | % | |||||||||||||||||||||||||||||||||||
| Cumulative prepayment rate | 22.50 | % | 22.50 | % | 22.50 | % | 22.50 | % | 22.50 | % | 22.50 | % | |||||||||||||||||||||||||||||||||||
| Average cumulative default rate | 19.00 | % | 19.00 | % | 19.00 | % | 19.00 | % | 19.00 | % | 19.00 | % | |||||||||||||||||||||||||||||||||||
| Servicing Assets at LCM: | 13,571 | 10,389 | |||||||||||||||||||||||||||||||||||||||||||||
Discount factor1 | 13.50 | % | 13.50 | % | 13.50 | % | 13.50 | % | 13.50 | % | 13.50 | % | |||||||||||||||||||||||||||||||||||
| Cumulative prepayment rate | 30.41 | % | 22.50 | % | 75.00 | % | 29.76 | % | 22.50 | % | 75.00 | % | |||||||||||||||||||||||||||||||||||
| Average cumulative default rate | 19.15 | % | 19.00 | % | 20.00 | % | 19.14 | % | 19.00 | % | 20.00 | % | |||||||||||||||||||||||||||||||||||
| Total | $ | 41,172 | $ | 39,725 | |||||||||||||||||||||||||||||||||||||||||||
| September 30, 2017 | December 31, 2016 | ||||||
| Fair Value | $ | 19,092 | $ | 16,246 | |||
| Discount factor (1) | 12.20 | % | 12.03 | % | |||
| Cumulative prepayment rate | 18.50 | % | 15.50 | % | |||
| Average cumulative default rate | 20.00 | % | 20.00 | % | |||
| March 31, 2024 | December 31, 2023 | ||||||||||
| Banking | $ | 271 | $ | 271 | |||||||
| Payments | 13,814 | $ | 13,814 | ||||||||
| Technology | 11,800 | $ | 11,800 | ||||||||
| Total goodwill | $ | 25,885 | $ | 25,885 | |||||||
| At March 31, 2024 | At December 31, 2023 | ||||||||||||||||||||||||||||||||||
| Gross carrying Amount | Accumulated Amortization | Net Carrying amount | Gross carrying Amount | Accumulated Amortization | Net Carrying amount | ||||||||||||||||||||||||||||||
| Core Deposits | $ | 1,040 | $ | (243) | $ | 797 | $ | 1,040 | $ | (197) | $ | 843 | |||||||||||||||||||||||
| Payments Customer Lists | — | — | — | 8,575 | (8,562) | 13 | |||||||||||||||||||||||||||||
| Technology Customer Lists | 6,525 | (3,263) | 3,262 | 6,525 | (3,146) | 3,379 | |||||||||||||||||||||||||||||
| Total intangible assets | $ | 7,565 | $ | (3,506) | $ | 4,059 | $ | 16,140 | $ | (11,905) | $ | 4,235 | |||||||||||||||||||||||
| Amortization Expense | |||||
| 2024 | $ | 480 | |||
| 2025 | 622 | ||||
| 2026 | 601 | ||||
| 2027 | 580 | ||||
| 2028 | 560 | ||||
| Thereafter | 1,216 | ||||
| Total | $ | 4,059 | |||
| Fair Value Measurements at March 31, 2024 | |||||||||||||||||||||||
| Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Debt securities available-for-sale | |||||||||||||||||||||||
| U.S. Treasury notes | $ | 25,232 | $ | 25,232 | $ | — | $ | — | |||||||||||||||
| Government agency debentures | 2,895 | — | 2,895 | — | |||||||||||||||||||
| Loans held for sale, at fair value | 187,104 | — | — | 187,104 | |||||||||||||||||||
| Loans held for investment, at fair value | 442,928 | — | — | 442,928 | |||||||||||||||||||
Other real estate owned 1 | 2,438 | — | — | 2,438 | |||||||||||||||||||
| Non-controlled/affiliate investments | 728 | — | — | 728 | |||||||||||||||||||
| Servicing assets | 27,601 | — | — | 27,601 | |||||||||||||||||||
| Joint ventures | 48,247 | — | — | 48,247 | |||||||||||||||||||
| Total assets measured at fair value | $ | 737,173 | $ | 25,232 | $ | 2,895 | $ | 709,046 | |||||||||||||||
| Liabilities: | |||||||||||||||||||||||
Equity warrants3 | $ | 76 | $ | — | $ | — | $ | 76 | |||||||||||||||
Derivative instruments2,3 | 38 | — | 38 | — | |||||||||||||||||||
| Total liabilities measured at fair value | $ | 114 | $ | — | $ | 38 | $ | 76 | |||||||||||||||
| Fair Value Measurements at September 30, 2017 Using: | |||||||||||||||
| Total | Level 1 | Level 2 | Level 3 | ||||||||||||
| Assets: | |||||||||||||||
| Investments in money market funds | $ | 9 | $ | 9 | $ | — | $ | — | |||||||
| SBA unguaranteed non-affiliate investments | 257,136 | — | — | 257,136 | |||||||||||
| SBA guaranteed non-affiliate investments | 24,088 | — | 24,088 | — | |||||||||||
| Controlled investments | 136,949 | — | — | 136,949 | |||||||||||
| Other real estate owned (1) | 890 | — | 890 | — | |||||||||||
| Servicing assets | 19,092 | — | — | 19,092 | |||||||||||
| Total assets | $ | 438,164 | $ | 9 | $ | 24,978 | $ | 413,177 | |||||||
| Liabilities: | |||||||||||||||
| Contingent consideration liabilities (2) | $ | 620 | $ | — | $ | — | $ | 620 | |||||||
| Fair Value Measurements at December 31, 2023 | |||||||||||||||||||||||
| Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Debt securities available-for-sale | |||||||||||||||||||||||
| U.S. Treasury notes | $ | 29,305 | $ | 29,305 | $ | — | $ | — | |||||||||||||||
| Government agency debentures | 2,866 | — | 2,866 | — | |||||||||||||||||||
| Loans held for sale, at fair value | 118,867 | — | — | 118,867 | |||||||||||||||||||
| Loans held for investment, at fair value | 469,801 | — | — | 469,801 | |||||||||||||||||||
Other real estate owned 1 | 1,110 | — | — | 1,110 | |||||||||||||||||||
| Non-controlled/affiliate investments | 728 | — | — | 728 | |||||||||||||||||||
| Servicing assets | 29,336 | — | — | 29,336 | |||||||||||||||||||
| Joint ventures | 40,859 | — | — | 40,859 | |||||||||||||||||||
| Total assets measured at fair value | $ | 692,872 | $ | 29,305 | $ | 2,866 | $ | 660,701 | |||||||||||||||
| Liabilities: | |||||||||||||||||||||||
Equity warrants3 | $ | 141 | $ | — | $ | — | $ | 141 | |||||||||||||||
Derivative instruments2,3 | 630 | — | 630 | — | |||||||||||||||||||
| Total liabilities measured at fair value | $ | 771 | $ | — | $ | 630 | $ | 141 | |||||||||||||||
| Fair Value Measurements at December 31, 2016 Using: | |||||||||||||||
| Total | Level 1 | Level 2 | Level 3 | ||||||||||||
| Assets: | |||||||||||||||
| Investments in money market funds | $ | 35 | $ | 35 | $ | — | $ | — | |||||||
| SBA unguaranteed non-affiliate investments | 211,471 | — | — | 211,471 | |||||||||||
| SBA guaranteed non-affiliate investments | 11,512 | — | 11,512 | — | |||||||||||
| Controlled investments | 121,302 | — | — | 121,302 | |||||||||||
| Other real estate owned (1) | 875 | — | 875 | — | |||||||||||
| Non-control/Non-affiliate investments | 904 | — | — | 904 | |||||||||||
| Servicing assets | 16,246 | — | — | 16,246 | |||||||||||
| Total assets | $ | 362,345 | $ | 35 | $ | 12,387 | $ | 349,923 | |||||||
| Three Months Ended March 31, 2024 | |||||||||||||||||||||||||||||||||||||||||
Loans HFI, at FV | Loans HFS, at FV | Joint Ventures | Servicing Assets | Non-Control Investments | Warrant Liabilities2 | Other Real Estate Owned1 | |||||||||||||||||||||||||||||||||||
| Fair value, December 31, 2023 | $ | 469,801 | $ | 118,867 | $ | 40,859 | $ | 29,336 | $ | 728 | $ | 141 | $ | 1,110 | |||||||||||||||||||||||||||
| Sales | (1,848) | (31,323) | — | — | — | — | (74) | ||||||||||||||||||||||||||||||||||
| Principal payments received | (21,713) | (166) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Foreclosed real estate acquired | (1,447) | — | — | — | — | — | 1,447 | ||||||||||||||||||||||||||||||||||
| SBA loans, funded | 27 | 4,203 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| ALP loans, funded | — | 66,905 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Mortgage loans, funded | — | 24,179 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Capital contributions/(distributions) | — | — | 7,243 | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Change in valuation due to: | |||||||||||||||||||||||||||||||||||||||||
| Changes in valuation inputs or assumptions | — | 4,426 | 145 | — | — | (65) | — | ||||||||||||||||||||||||||||||||||
| Other factors | (1,892) | 13 | — | (1,735) | — | — | (45) | ||||||||||||||||||||||||||||||||||
| Fair value, March 31, 2024 | $ | 442,928 | $ | 187,104 | $ | 48,247 | $ | 27,601 | $ | 728 | $ | 76 | $ | 2,438 | |||||||||||||||||||||||||||
| Three Months Ended March 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
| Loans HFI, at FV | Loans HFS, at FV | Controlled Investments | Joint Ventures | Servicing Assets | Non-Control Investments | Warrant Liabilities2 | Other Real Estate Owned1 | ||||||||||||||||||||||||||||||||||||||||
| Fair value, Fair value, December 31, 2022 | $ | 505,268 | $ | 19,171 | $ | 259,217 | $ | 23,022 | $ | 30,268 | $ | 1,360 | $ | — | $ | 3,529 | |||||||||||||||||||||||||||||||
| Removal of new entities consolidating in current period | — | 69,745 | (259,217) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Reclass of Loans HFS to HFI | 8,745 | (8,745) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Change in valuation due to: | |||||||||||||||||||||||||||||||||||||||||||||||
| Changes in valuation inputs or assumptions | — | — | — | 2,000 | 2,654 | — | (162) | — | |||||||||||||||||||||||||||||||||||||||
| Other factors | 6,077 | (172) | — | — | (1,735) | — | — | (45) | |||||||||||||||||||||||||||||||||||||||
| Realized gain (loss) | (7,532) | 11,877 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| SBA investments, funded | 36,859 | 132,753 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| ALP loans, funded | — | 12,150 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Mortgage loans, funded | — | 11,855 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Foreclosed real estate acquired | (694) | — | — | — | — | — | — | 673 | |||||||||||||||||||||||||||||||||||||||
| Purchases and repurchases of loans | 5,797 | 32,534 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Sales | — | (154,184) | — | — | — | — | — | (641) | |||||||||||||||||||||||||||||||||||||||
| Principal payments received | (21,732) | (1,345) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Additions | — | — | — | — | 2,164 | — | 311 | — | |||||||||||||||||||||||||||||||||||||||
| Fair Value, March 31, 2023 | $ | 532,788 | $ | 125,639 | $ | — | $ | 25,022 | $ | 33,351 | $ | 1,360 | $ | 149 | $ | 3,516 | |||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2017 | |||||||||||||||||||
| SBA Unguaranteed Investments | Controlled Investments | Servicing Assets | Non-Control/Non-Affiliate Investments | Contingent Consideration Liabilities | |||||||||||||||
| Fair value, December 31, 2016 | $ | 211,471 | $ | 121,302 | $ | 16,246 | $ | 904 | $ | — | |||||||||
| Net change in unrealized appreciation (depreciation) | 238 | (2,243 | ) | (1,601 | ) | — | |||||||||||||
| Realized loss | (131 | ) | — | — | — | — | |||||||||||||
| SBA unguaranteed non-affiliate investments, funded | 62,185 | — | — | — | — | ||||||||||||||
| Foreclosed real estate acquired | (212 | ) | — | — | — | — | |||||||||||||
| Purchase of investments | — | 29,366 | — | 3,255 | — | ||||||||||||||
| Purchase of loan from SBA | 3,821 | — | — | — | — | ||||||||||||||
| Transfer of Excel WebSolutions, LLC from Non-control/Non-affiliate to Controlled Investments | — | 904 | — | (904 | ) | — | |||||||||||||
| Record fair value of contingent consideration liabilities | — | — | — | — | 1,368 | ||||||||||||||
| Change in fair value of contingent consideration liabilities | — | — | — | — | (748 | ) | |||||||||||||
| Purchase of loan portfolio | 175 | — | — | — | — | ||||||||||||||
| Net accretion of premium/discount | 19 | — | — | — | — | ||||||||||||||
| Return of investment | — | (50 | ) | — | — | — | |||||||||||||
| Principal payments received on debt investments | (20,430 | ) | (12,330 | ) | — | (3,255 | ) | — | |||||||||||
| Additions to servicing assets | — | — | 4,447 | — | — | ||||||||||||||
| Fair value, September 30, 2017 | $ | 257,136 | $ | 136,949 | $ | 19,092 | $ | — | $ | 620 | |||||||||
| Nine Months Ended September 30, 2016 | |||||||||||||||
| SBA Unguaranteed Investments | Controlled Investments | Non-Control/Non-Affiliate Investments | Servicing Assets | ||||||||||||
| Fair value, December 31, 2015 | $ | 158,355 | $ | 104,376 | $ | 1,824 | $ | 13,042 | |||||||
| Net change in unrealized appreciation (depreciation) | 869 | 10,362 | (43 | ) | (1,341 | ) | |||||||||
| Realized loss | (763 | ) | — | — | — | ||||||||||
| SBA unguaranteed non-affiliate investments, funded | 51,567 | — | — | — | |||||||||||
| Foreclosed real estate acquired | (387 | ) | — | — | — | ||||||||||
| Purchase of investments | — | 6,275 | 1,020 | — | |||||||||||
| Transfer from due from related parties | — | 435 | — | — | |||||||||||
| Transfer of Titanium Asset Management LLC from Non-control/Non-affiliate to Controlled Investments | — | 1,146 | (1,146 | ) | — | ||||||||||
| Purchase of loan from SBA | 2,057 | — | — | — | |||||||||||
| Principal payments received on debt investments | (15,074 | ) | (2,174 | ) | (635 | ) | — | ||||||||
| Additions to servicing assets | — | — | — | 3,918 | |||||||||||
| Fair value, September 30, 2016 | $ | 196,624 | $ | 120,420 | $ | 1,020 | $ | 15,619 | |||||||
| Fair Value as of | Weighted | Range | ||||||||||||||||||||||||||||||||||||
| March 31, 2024 | Unobservable Input | Average | Minimum | Maximum | ||||||||||||||||||||||||||||||||||
| Assets: | ||||||||||||||||||||||||||||||||||||||
| HFI, at fair value - accrual loans | $ | 396,927 | Market yields | 7.75 | % | 7.75 | % | 7.75 | % | |||||||||||||||||||||||||||||
| Cumulative prepayment rate | 22.50 | % | 22.50 | % | 22.50 | % | ||||||||||||||||||||||||||||||||
| Average cumulative default rate | 19.00 | % | 19.00 | % | 19.00 | % | ||||||||||||||||||||||||||||||||
| HFI, at fair value - non-accrual loans | $ | 46,001 | Market yields | 7.50 | % | 7.50 | % | 7.50 | % | |||||||||||||||||||||||||||||
| Cumulative prepayment rate | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||
| Average cumulative default rate | 30.00 | % | 30.00 | % | 30.00 | % | ||||||||||||||||||||||||||||||||
| HFS, at fair value | $ | 187,104 | Market yields | 7.68 | % | 7.21 | % | 8.12 | % | |||||||||||||||||||||||||||||
| Cumulative prepayment rate | 61.03 | % | 55.60 | % | 75.00 | % | ||||||||||||||||||||||||||||||||
| Average cumulative default rate | 20.00 | % | 20.00 | % | 20.00 | % | ||||||||||||||||||||||||||||||||
| Joint ventures | $ | 48,247 | Market yields | 8.30 | % | 8.30 | % | 8.30 | % | |||||||||||||||||||||||||||||
| Cost of equity | 12.00 | % | 10.00 | % | 14.00 | % | ||||||||||||||||||||||||||||||||
| Weighted average cost of capital | 8.50 | % | 7.50 | % | 9.50 | % | ||||||||||||||||||||||||||||||||
| Non-control equity investments | $ | 368 | Market yields | 10.00 | % | 8.00 | % | 12.00 | % | |||||||||||||||||||||||||||||
| $ | 360 | Cost basis | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||
Servicing assets1 | $ | 27,601 | Market yields | 13.50 | % | 13.50 | % | 13.50 | % | |||||||||||||||||||||||||||||
| Cumulative prepayment rate | 22.50 | % | 22.50 | % | 22.50 | % | ||||||||||||||||||||||||||||||||
| Average cumulative default rate | 19.00 | % | 19.00 | % | 19.00 | % | ||||||||||||||||||||||||||||||||
| Other real estate owned | $ | 2,438 | Appraised value | N/A | N/A | N/A | ||||||||||||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||||||||
| Equity warrants | $ | 76 | Expected volatility | 44.00 | % | 44.00 | % | 44.00 | % | |||||||||||||||||||||||||||||
| Dividend yield | 6.90 | % | 6.90 | % | 6.90 | % | ||||||||||||||||||||||||||||||||
| Risk free rate | 4.20 | % | 4.20 | % | 4.20 | % | ||||||||||||||||||||||||||||||||
| Range | |||||||||||||||||
| Fair Value as of September 30, 2017 | Valuation Techniques | Unobservable Input | Weighted Average | Minimum | Maximum | ||||||||||||
| Assets: | |||||||||||||||||
| SBA unguaranteed non-affiliate investments - performing loans | $ | 247,347 | Discounted cash flow | Market yields | 5.50 | % | 5.50 | % | 5.50 | % | |||||||
| SBA unguaranteed non-affiliate investments - non-performing loans | $ | 9,789 | Discounted cash flow | Market yields | 5.53 | % | 5.53 | % | 5.53 | % | |||||||
| Controlled equity investments (A)(B) | $ | 128,020 | Market comparable companies | EBITDA multiples (B) | 5.80x | 3.50x | 6.62x | ||||||||||
| Market comparable companies | Revenue multiples (B) | 1.11x | 0.22x | 2.49x | |||||||||||||
| Discounted cash flow | Weighted average cost of capital (B) | 12.68 | % | 10.30 | % | 22.50 | % | ||||||||||
| Controlled debt investments | $ | 8,441 | Discounted cash flow | Market yields | 6.62 | % | 4.75 | % | 10.00 | % | |||||||
| $ | 488 | Liquidation value | Asset value | N/A | N/A | N/A | |||||||||||
| Servicing assets | $ | 19,092 | Discounted cash flow | Market yields | 12.20 | % | 12.20 | % | 12.20 | % | |||||||
| Contingent consideration liabilities | $ | 620 | Discounted cash flow | Projected EBITDA and probability of achievement | N/A | N/A | N/A | ||||||||||
| Fair Value as of | Weighted | Range | ||||||||||||||||||||||||||||||||||||
| December 31, 2023 | Unobservable Input | Average | Minimum | Maximum | ||||||||||||||||||||||||||||||||||
| Assets: | ||||||||||||||||||||||||||||||||||||||
| HFI, at fair value - accrual loans | $ | 421,627 | Market yields | 7.75 | % | 7.75 | % | 7.75 | % | |||||||||||||||||||||||||||||
| Cumulative prepayment rate | 22.50 | % | 22.50 | % | 22.50 | % | ||||||||||||||||||||||||||||||||
| Average cumulative default rate | 19.00 | % | 19.00 | % | 19.00 | % | ||||||||||||||||||||||||||||||||
| HFI, at fair value - accrual loans | $ | 48,174 | Market yields | 7.39 | % | 7.39 | % | 7.39 | % | |||||||||||||||||||||||||||||
| Cumulative prepayment rate | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||
| Average cumulative default rate | 30.00 | % | 30.00 | % | 30.00 | % | ||||||||||||||||||||||||||||||||
| HFS, at fair value | $ | 118,867 | Market yields | 6.85 | % | 6.50 | % | 7.75 | % | |||||||||||||||||||||||||||||
| Cumulative prepayment rate | 61.03 | % | 55.60 | % | 75.00 | % | ||||||||||||||||||||||||||||||||
| Average cumulative default rate | 20.00 | % | 20.00 | % | 20.00 | % | ||||||||||||||||||||||||||||||||
| Joint ventures | $ | 40,859 | Market yields | 8.00 | % | 8.00 | % | 8.00 | % | |||||||||||||||||||||||||||||
| Cost of equity | 12.00 | % | 10.00 | % | 14.00 | % | ||||||||||||||||||||||||||||||||
| Weighted average cost of capital | 8.50 | % | 7.50 | % | 9.50 | % | ||||||||||||||||||||||||||||||||
| Non-control equity investments | $ | 368 | Market yields | 10.00 | % | 8.00 | % | 12.00 | % | |||||||||||||||||||||||||||||
| $ | 360 | Cost basis | N/A | N/A | N/A | |||||||||||||||||||||||||||||||||
Servicing assets1 | $ | 29,336 | Market yields | 13.50 | % | 13.50 | % | 13.50 | % | |||||||||||||||||||||||||||||
| Cumulative prepayment rate | 22.50 | % | 22.50 | % | 22.50 | % | ||||||||||||||||||||||||||||||||
| Average cumulative default rate | 19.00 | % | 19.00 | % | 19.00 | % | ||||||||||||||||||||||||||||||||
| Other real estate owned | $ | 1,110 | Appraised value | N/A | N/A | N/A | ||||||||||||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||||||||
| Equity warrants | $ | 141 | Expected volatility | 43.00 | % | 43.00 | % | 43.00 | % | |||||||||||||||||||||||||||||
| Dividend yield | 5.20 | % | 5.20 | % | 5.20 | % | ||||||||||||||||||||||||||||||||
| Risk free rate | 3.88 | % | 3.88 | % | 3.88 | % | ||||||||||||||||||||||||||||||||
| Range | |||||||||||||||||
| Fair Value as of December 31, 2016 | Valuation Techniques | Unobservable Input | Weighted Average | Minimum | Maximum | ||||||||||||
| Assets: | |||||||||||||||||
| SBA unguaranteed non-affiliate investments - performing loans | $ | 202,887 | Discounted cash flow | Market yields | 5.50 | % | 5.50 | % | 5.50 | % | |||||||
| SBA unguaranteed non-affiliate investments - non-performing loans | $ | 8,584 | Discounted cash flow | Market yields | 6.19 | % | 6.19 | % | 6.19 | % | |||||||
| Controlled equity investments (A)(B) | $ | 116,919 | Market comparable companies | EBITDA multiples (B) | 6.10x | 3.01x | 6.99x | ||||||||||
| Market comparable companies | Revenue multiples (B) | 1.21x | 0.62x | 3.08x | |||||||||||||
| Discounted cash flow | Weighted average cost of capital (B) | 12.57 | % | 11.00 | % | 15.30 | % | ||||||||||
| Controlled debt investments | $ | 3,875 | Discounted cash flow | Market yields | 7.05 | % | 5.75 | % | 10.00 | % | |||||||
| $ | 508 | Liquidation value | Asset value | N/A | N/A | N/A | |||||||||||
| Non-control/non-affiliate debt investments | $ | 904 | Liquidation value | Asset value | N/A | N/A | N/A | ||||||||||
| Servicing assets | $ | 16,246 | Discounted cash flow | Market yields | 12.20 | % | 12.20 | % | 12.20 | % | |||||||
| March 31, 2024 | |||||||||||||||||||||||||||||
| Carrying Amount | Fair Value Amount by Level: | Total Fair Value | |||||||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
| Financial Assets: | |||||||||||||||||||||||||||||
| Cash and due from banks | $ | 12,295 | $ | 12,295 | $ | — | $ | — | $ | 12,295 | |||||||||||||||||||
| Restricted cash | 35,759 | 35,759 | — | — | 35,759 | ||||||||||||||||||||||||
| Interest bearing deposits in banks | 115,152 | 115,152 | — | — | 115,152 | ||||||||||||||||||||||||
| Debt securities available-for-sale, at fair value | 28,127 | 25,232 | 2,895 | — | 28,127 | ||||||||||||||||||||||||
| Loans HFS, at fair value | 187,104 | — | — | 187,104 | 187,104 | ||||||||||||||||||||||||
| Loans HFS, at LCM | 59,880 | — | — | 60,227 | 60,227 | ||||||||||||||||||||||||
| Loans HFI, at fair value | 442,928 | — | — | 442,928 | 442,928 | ||||||||||||||||||||||||
| Total loans HFI, at amortized cost, net of deferred fees and costs | 397,625 | — | — | 398,453 | 398,453 | ||||||||||||||||||||||||
| Federal Home Loan Bank and Federal Reserve Bank stock | 3,773 | — | 3,773 | — | 3,773 | ||||||||||||||||||||||||
| Joint ventures, at fair value | 48,247 | — | — | 48,247 | 48,247 | ||||||||||||||||||||||||
| Non-control investments | 728 | — | — | 728 | 728 | ||||||||||||||||||||||||
| Financial Liabilities: | |||||||||||||||||||||||||||||
| Time deposits | 209,721 | — | 210,519 | — | 210,519 | ||||||||||||||||||||||||
| Borrowings | 662,488 | — | 190,576 | 471,728 | 662,304 | ||||||||||||||||||||||||
| December 31, 2023 | |||||||||||||||||||||||||||||
| Carrying Amount | Fair Value Amount by Level: | Total Fair Value | |||||||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
| Financial Assets: | |||||||||||||||||||||||||||||
| Cash and due from banks | $ | 15,398 | $ | 15,398 | $ | — | $ | — | $ | 15,398 | |||||||||||||||||||
| Restricted cash | 30,919 | 30,919 | — | — | 30,919 | ||||||||||||||||||||||||
| Interest bearing deposits in banks | 137,689 | 137,689 | — | — | 137,689 | ||||||||||||||||||||||||
| Debt securities available-for-sale, at fair value | 32,171 | 29,305 | 2,866 | — | 32,171 | ||||||||||||||||||||||||
| Loans HFS, at fair value | 118,867 | — | — | 118,867 | 118,867 | ||||||||||||||||||||||||
| Loans HFS, at LCM | 56,607 | — | — | 56,733 | 56,733 | ||||||||||||||||||||||||
| Loans HFI, at fair value | 469,801 | — | — | 469,801 | 469,801 | ||||||||||||||||||||||||
| Total loans HFI, at amortized cost, net of deferred fees and costs | 336,305 | — | — | 337,133 | 337,133 | ||||||||||||||||||||||||
| Federal Home Loan Bank and Federal Reserve Bank stock | 3,635 | — | 3,635 | — | 3,635 | ||||||||||||||||||||||||
| Joint ventures, at fair value | 40,859 | — | — | 40,859 | 40,859 | ||||||||||||||||||||||||
| Non-control investments | 728 | — | — | 728 | 728 | ||||||||||||||||||||||||
| Financial Liabilities: | |||||||||||||||||||||||||||||
| Time deposits | 167,041 | — | 168,542 | — | 168,542 | ||||||||||||||||||||||||
| Borrowings | 644,122 | — | 187,555 | 454,239 | 641,794 | ||||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||
| Non-interest-bearing: | ||||||||||||||
| Demand | $ | 5,466 | $ | 10,053 | ||||||||||
| Interest-bearing: | ||||||||||||||
| Checking | 16,870 | 11,456 | ||||||||||||
| Money market | 27,290 | 15,803 | ||||||||||||
| Savings | 253,595 | 259,152 | ||||||||||||
| Time deposits | 209,721 | 167,041 | ||||||||||||
| Total interest-bearing | 507,476 | 453,452 | ||||||||||||
| Total deposits | $ | 512,942 | $ | 463,505 | ||||||||||
| Time deposits, money market, and interest-bearing checking obtained through brokers | $ | 58,295 | $ | 53,548 | ||||||||||
| Aggregate amount of deposit accounts that exceeded the FDIC limit | $ | 74,699 | $ | 66,511 | ||||||||||
| Demand deposit overdrafts reclassified as loan balances | $ | 2 | $ | 53 | ||||||||||
| Certificates of deposit in excess of $0.25 million | $ | 29,266 | $ | 20,070 | ||||||||||
| 2024 | $ | 92,829 | ||||||
| 2025 | 64,999 | |||||||
| 2026 | 31,530 | |||||||
| 2027 | 19,574 | |||||||
| 2028 | 711 | |||||||
| Thereafter | 78 | |||||||
| Total time deposits | $ | 209,721 | ||||||
| September 30, 2017 | December 31, 2016 | ||||||||||||||||||||
| Commitments | Borrowings Outstanding | Weighted Average Interest Rate | Commitments | Borrowings Outstanding | Weighted Average Interest Rate | ||||||||||||||||
Capital One line of credit - guaranteed (1) | $ | 100,000 | $ | 36,926 | 4.00 | % | $ | 50,000 | $ | 5,100 | 4.50 | % | |||||||||
Capital One line of credit - unguaranteed (1) | — | 29,220 | 5.00 | % | — | — | — | % | |||||||||||||
| Notes due 2021 | 40,250 | 39,027 | 7.00 | % | 40,250 | 38,767 | 7.00 | % | |||||||||||||
| Notes due 2022 | 8,324 | 7,915 | 7.50 | % | 8,324 | 7,853 | 7.50 | % | |||||||||||||
| Notes payable - related parties | 50,000 | 20,541 | 7.31 | % | 38,000 | 1,400 | 7.67 | % | |||||||||||||
| Notes payable - Securitization trusts | 97,607 | 95,376 | 4.41 | % | 120,945 | 118,122 | 3.79 | % | |||||||||||||
| Total | $ | 296,181 | $ | 229,005 | 5.23 | % | $ | 257,519 | $ | 171,242 | 4.75 | % | |||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||||||
| Commitments | Borrowings Outstanding | Weighted Average Interest Rate | Commitments | Borrowings Outstanding | Weighted Average Interest Rate | ||||||||||||||||||||||||||||||
Bank Lines of Credit1: | |||||||||||||||||||||||||||||||||||
| Webster NMS Note | 54,871 | 35,624 | 7.93 | % | 54,871 | 36,628 | 7.94 | % | |||||||||||||||||||||||||||
| SPV I Capital One Facility | 60,000 | 20,241 | 8.18 | % | 60,000 | 16,080 | 8.20 | % | |||||||||||||||||||||||||||
| SPV II Deutsche Bank Facility | 50,000 | 18,063 | 10.02 | % | 50,000 | 6,799 | 10.04 | % | |||||||||||||||||||||||||||
| SPV III One Florida Bank Facility | 30,000 | 29,753 | 9.50 | % | 30,000 | 257 | 9.50 | % | |||||||||||||||||||||||||||
| FHLB Advances | 110,433 | 19,726 | 2.24 | % | 113,891 | 23,184 | 2.13 | % | |||||||||||||||||||||||||||
Notes issued by Parent Company1: | |||||||||||||||||||||||||||||||||||
| 2024 Notes | 38,250 | 38,178 | 5.75 | % | 38,250 | 38,124 | 5.75 | % | |||||||||||||||||||||||||||
| 2025 5.00% Notes | 30,000 | 29,651 | 5.00 | % | 30,000 | 29,563 | 5.00 | % | |||||||||||||||||||||||||||
| 2025 8.125% Notes | 50,000 | 49,564 | 8.13 | % | 50,000 | 49,433 | 8.13 | % | |||||||||||||||||||||||||||
| 2026 Notes | 115,000 | 113,743 | 5.50 | % | 115,000 | 113,564 | 5.50 | % | |||||||||||||||||||||||||||
| 2028 Notes | 40,000 | 38,465 | 8.00 | % | 40,000 | 38,378 | 8.00 | % | |||||||||||||||||||||||||||
Notes payable - Securitization Trusts2 | 273,269 | 269,480 | 7.85 | % | 296,223 | 292,112 | 7.84 | % | |||||||||||||||||||||||||||
| Total | $ | 851,823 | $ | 662,488 | 7.21 | % | $ | 878,235 | $ | 644,122 | 7.04 | % | |||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||||||||||
| Principal balance | Unamortized deferred financing costs | Net carrying amount1 | Principal balance | Unamortized deferred financing costs | Net carrying amount1 | |||||||||||||||||||||||||||||||||
| Bank Lines of Credit: | ||||||||||||||||||||||||||||||||||||||
| Webster NMS Note | $ | 35,884 | $ | (260) | $ | 35,624 | $ | 36,881 | $ | (253) | $ | 36,628 | ||||||||||||||||||||||||||
| SPV I Capital One Facility | 20,400 | (159) | 20,241 | 16,300 | (220) | 16,080 | ||||||||||||||||||||||||||||||||
| SPV II Deutsche Bank Facility | 18,136 | (73) | 18,063 | 6,900 | (101) | 6,799 | ||||||||||||||||||||||||||||||||
| SPV III One Florida Bank Facility | 29,850 | (97) | 29,753 | 375 | (118) | 257 | ||||||||||||||||||||||||||||||||
| Notes issued by Parent Company: | ||||||||||||||||||||||||||||||||||||||
| 2024 Notes | 38,250 | (72) | 38,178 | 38,250 | (126) | 38,124 | ||||||||||||||||||||||||||||||||
| 2025 5.00% Notes | 30,000 | (349) | 29,651 | 30,000 | (437) | 29,563 | ||||||||||||||||||||||||||||||||
| 2025 8.125% Notes | 50,000 | (436) | 49,564 | 50,000 | (567) | 49,433 | ||||||||||||||||||||||||||||||||
| 2026 Notes | 115,000 | (1,257) | 113,743 | 115,000 | (1,436) | 113,564 | ||||||||||||||||||||||||||||||||
| 2028 Notes | 40,000 | (1,535) | 38,465 | 40,000 | (1,622) | 38,378 | ||||||||||||||||||||||||||||||||
| Notes Payable - Securitization Trusts | 273,269 | (3,789) | 269,480 | 296,223 | (4,111) | 292,112 | ||||||||||||||||||||||||||||||||
| September 30, 2017 | December 31, 2016 | ||||||||||||||||||||||
| Notes Due 2022 | Notes Due 2021 | Notes Payable- Securitization Trusts | Notes Due 2022 | Notes Due 2021 | Notes Payable- Securitization Trusts | ||||||||||||||||||
| Principal | $ | 8,324 | $ | 40,250 | $ | 97,607 | $ | 8,324 | $ | 40,250 | $ | 120,945 | |||||||||||
| Unamortized deferred financing costs | (409 | ) | (1,223 | ) | (2,231 | ) | (471 | ) | (1,483 | ) | (2,823 | ) | |||||||||||
| Net carrying amount | $ | 7,915 | $ | 39,027 | $ | 95,376 | $ | 7,853 | $ | 38,767 | $ | 118,122 | |||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||
| Closing Price | Fair Value | Closing Price | Fair Value | |||||||||||||||||||||||
| 2028 Notes | $ | 25.15 | $ | 40,240 | $ | 25.04 | $ | 40,070 | ||||||||||||||||||
| 2026 Notes | 24.32 | 111,872 | 23.75 | 109,250 | ||||||||||||||||||||||
| 2024 Notes | 25.14 | 38,464 | 24.99 | 38,235 | ||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value | Remaining | Fair Value | Remaining | |||||||||||||||||||||||||||||||||||||||||||||||
| Contract Type | Notional1 | Asset | Liability2 | Maturity (years) | Notional1 | Asset | Liability2 | Maturity (years) | ||||||||||||||||||||||||||||||||||||||||||
| 5-year Treasury Futures | $ | (43,517) | $ | — | $ | 38 | 0.25 years | $ | (27,869) | $ | — | $ | 630 | 0.25 years | ||||||||||||||||||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Contract Type | Unrealized Appreciation/(Depreciation) | Realized Gain/(Loss) | Unrealized Appreciation/(Depreciation) | Realized Gain/(Loss) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-year Treasury Futures | $ | 592 | $ | (268) | $ | (693) | $ | 197 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Year | Operating Leases | Employment Agreements1 | Total | ||||||||||||||
| 2024 | $ | 2,075 | $ | 2,274 | $ | 4,349 | |||||||||||
| 2025 | 2,461 | 740 | 3,201 | ||||||||||||||
| 2026 | 1,835 | — | 1,835 | ||||||||||||||
| 2027 | 429 | — | 429 | ||||||||||||||
| 2028 | — | — | — | ||||||||||||||
| Thereafter | — | — | — | ||||||||||||||
| Total | $ | 6,800 | $ | 3,014 | $ | 9,814 | |||||||||||
| Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | |||||||
| Per share data (1) | ||||||||
| Net asset value at beginning of period | $ | 14.30 | $ | 14.06 | ||||
| Net investment loss | (0.29 | ) | (0.52 | ) | ||||
| Net realized gain | 1.61 | 1.55 | ||||||
| Net unrealized (depreciation) appreciation on investments | (0.05 | ) | 0.82 | |||||
| Net unrealized depreciation on servicing assets | (0.09 | ) | (0.09 | ) | ||||
| Change in provision for deferred taxes | 0.04 | (0.31 | ) | |||||
| Net increase in net assets | 1.22 | 1.45 | ||||||
| Dividends to common stockholders from net investment income | (0.36 | ) | — | |||||
| Distributions to common stockholders from capital gains | (0.84 | ) | (1.13 | ) | ||||
| Total dividends paid | (1.20 | ) | (1.13 | ) | ||||
| Stock-based compensation expense | 0.05 | 0.02 | ||||||
| Consolidation of Exponential Business Development Co., Inc. | — | (0.03 | ) | |||||
| Accretive effect of stock offerings (issuing shares above NAV per share) | 0.05 | — | ||||||
| Accretive effect of shares issued in connection with investments (issuing shares above NAV per share) | 0.01 | — | ||||||
| Dilutive effect of purchase of vested stock for employee payroll tax withholding (purchase of shares above NAV) | (0.01 | ) | — | |||||
| Impact of restricted stock awards | — | (0.11 | ) | |||||
| Other (5) | (0.02 | ) | — | |||||
| Net asset value at end of period | $ | 14.40 | $ | 14.26 | ||||
| Per share market value at end of period | $ | 17.82 | $ | 14.26 | ||||
| Total return based on market value (3) | 19.62 | % | 10.27 | % | ||||
| Total return based on average net asset value (2)(3)(4) | 12.12 | % | 12.61 | % | ||||
| Shares outstanding at end of period (in thousands) | 17,750 | 14,594 | ||||||
| Ratios/Supplemental Data: | ||||||||
| Net assets at end of period | $ | 255,612 | $ | 208,172 | ||||
| Ratio of expenses to average net assets (2) | 19.2 | % | 19.06 | % | ||||
| Ratio of net investment loss to average net assets | (2.85 | )% | (3.68 | )% | ||||
| Portfolio turnover | 81.49 | % | 89.03 | % | ||||
| Average debt outstanding | $ | 200,124 | $ | 154,640 | ||||
| Average debt outstanding per share | $ | 11.27 | $ | 10.60 | ||||
| Asset coverage ratio | 212 | % | 217 | % | ||||
2023 Plan2 | 2015 Plan | |||||||||||||
Restricted Stock authorized under the plan1 | 3.0 million | 1.5 million | ||||||||||||
| Net restricted stock (granted)/forfeited during: | ||||||||||||||
| Year ended December 31, 2020 and prior | — | (223) | ||||||||||||
| Year ended December 31, 2021 | — | (215) | ||||||||||||
| Year ended December 31, 2022 | — | (251) | ||||||||||||
| Year ended December 31, 2023 | (82) | 28 | ||||||||||||
| Three months ended March 31, 2024 | (45) | — | ||||||||||||
| Total net restricted stock (granted)/forfeited | (127) | (661) | ||||||||||||
| Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | |||||||||||||||||||||||||
| # of Shares | $ of Shares | # of Shares | $ of Shares | |||||||||||||||||||||||
| Dividends on Unvested Shares of Restricted Stock Grants | 6 | $71 | 5 | $60 | ||||||||||||||||||||||
| Year Ended | ||||||||||||||||
| Nine Months Ended September 30, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 | |||||||||||||
| Shares issued | 2,587,500 | — | 2,300,000 | 2,530,000 | ||||||||||||
| Offering price per share | $ | 15.25 | $ | — | $ | 16.50 | $ | 12.50 | ||||||||
| Proceeds net of underwriting discounts and offering costs | $ | 37,042 | $ | — | $ | 35,290 | $ | 27,883 | ||||||||
| Purchase date | Number of Shares Purchased | Price per Share | Total | ||||||||
| March 10, 2016 | 10 | $ | 12.34 | $ | 123 | ||||||
| March 18, 2016 | 20 | $ | 12.45 | 249 | |||||||
| March 18, 2016 | 30 | $ | 12.48 | 375 | |||||||
| March 23, 2016 | 10 | $ | 11.88 | 119 | |||||||
| Total | 70 | $ | 866 | ||||||||
| Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | |||||||||||||
| Net increase in net assets | $ | 8,077 | $ | 10,040 | $ | 20,912 | $ | 21,016 | ||||||||
| Weighted average shares outstanding | 17,487 | 14,556 | 17,076 | 14,515 | ||||||||||||
| Net increase in net assets per common share | $ | 0.46 | $ | 0.69 | $ | 1.22 | $ | 1.45 | ||||||||
| Date Declared | Record Date | Payment Date | Amount Per Share | Cash Distribution | DRIP Shares Issued | DRIP Shares Value | ||||||||||||||||||||||||||||||||
| Three months ended March 31, 2024 | ||||||||||||||||||||||||||||||||||||||
| March 19, 2024 | April 1, 2024 | April 15, 2024 | $ | 0.19 | $ | 4,617 | — | $ | — | |||||||||||||||||||||||||||||
| Three months ended March 31, 2023 | ||||||||||||||||||||||||||||||||||||||
| February 27, 2023 | April 4, 2023 | April 14, 2023 | $ | 0.18 | $ | 4,291 | 6 | $ | 72 | |||||||||||||||||||||||||||||
| Date Declared | Record Date | Payment Date | Amount Per Share | Cash Distribution | DRIP Shares Issued | DRIP Shares Value | |||||||||||||
| September 30, 2017 | |||||||||||||||||||
| March 6, 2017 | March 20, 2017 | March 31, 2017 | $ | 0.36 | $ | 6,062 | 6 | $ | 89 | ||||||||||
| May 4, 2017 | May 31, 2017 | June 30, 2017 | $ | 0.40 | $ | 6,804 | 7 | $ | 112 | ||||||||||
| August 21, 2017 | September 22, 2017 | September 29, 2017 | $ | 0.44 | $ | 7,585 | 11 | $ | 184 | ||||||||||
| September 30, 2016 | |||||||||||||||||||
| February 25, 2016 | March 22, 2016 | March 31, 2016 | $ | 0.35 | $ | 4,708 | 29 | $ | 362 | ||||||||||
| June 9, 2016 | June 20, 2016 | June 30, 2016 | $ | 0.35 | $ | 4,985 | 7 | $ | 83 | ||||||||||
| September 7, 2016 | September 20, 2016 | September 30, 2016 | $ | 0.43 | $ | 6,152 | 6 | $ | 77 | ||||||||||
| Three Months Ended March 31, | |||||||||||||||||
| 2024 | 2023 | ||||||||||||||||
| Basic earnings per share: | |||||||||||||||||
| Net income available to common shareholders | $ | 9,250 | $ | 18,301 | |||||||||||||
| Weighted-average basic shares outstanding | 24,287 | 24,223 | |||||||||||||||
| Basic earnings per share | $ | 0.38 | $ | 0.76 | |||||||||||||
| Diluted earnings per share: | |||||||||||||||||
| Net income, for diluted earnings per share | $ | 9,250 | $ | 18,301 | |||||||||||||
| Total weighted-average basic shares outstanding | 24,287 | 24,223 | |||||||||||||||
Add effect of dilutive warrants and restricted stock awards3 | 71 | 658 | |||||||||||||||
| Total weighted-average diluted shares outstanding | 24,358 | 24,881 | |||||||||||||||
Diluted earnings per share1,2 | $ | 0.38 | $ | 0.74 | |||||||||||||
| Anti-dilutive warrants and restricted stock awards | 1,065 | 248 | |||||||||||||||
| Period Ended March, 31 2024 | Year Ended December 31, 2023 | |||||||||||||
| Offering Period 2 | Offering Period 1 | |||||||||||||
| Commencement date | 10/1/2023 | 10/1/2023 | ||||||||||||
| End date | 3/15/2024 | 12/15/2023 | ||||||||||||
| Shares purchased | 5 | 4 | ||||||||||||
| Weighted average share price | $ | 9.83 | $ | 13.05 | ||||||||||
| Total purchased | $ | 51 | $ | 51 | ||||||||||
| As of and for the three months ended March 31, 2024 | |||||||||||||||||||||||||||||||||||||||||
| Banking | Technology | NSBF | Payments | Corporate and Other | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||
| Interest income | $ | 13,571 | $ | 1 | $ | 10,744 | $ | 545 | $ | 3,323 | $ | (1,117) | $ | 27,067 | |||||||||||||||||||||||||||
| Interest expense | 5,853 | — | 5,966 | 796 | 6,663 | (1,117) | 18,161 | ||||||||||||||||||||||||||||||||||
| Net interest income/(loss) | 7,718 | 1 | 4,778 | (251) | (3,340) | — | 8,906 | ||||||||||||||||||||||||||||||||||
| Provision for loan credit losses | 4,015 | — | — | — | — | — | 4,015 | ||||||||||||||||||||||||||||||||||
| Net interest income after provision for loan credit losses | 3,703 | 1 | 4,778 | (251) | (3,340) | — | 4,891 | ||||||||||||||||||||||||||||||||||
| Noninterest income | 29,982 | 7,318 | (1,212) | 11,749 | 17,771 | (16,241) | 49,367 | ||||||||||||||||||||||||||||||||||
| Noninterest expense | 20,249 | 7,212 | 4,486 | 8,102 | 9,865 | (8,755) | 41,159 | ||||||||||||||||||||||||||||||||||
| Income before taxes | 13,436 | 107 | (920) | 3,396 | 4,566 | (7,486) | 13,099 | ||||||||||||||||||||||||||||||||||
| Income tax expense (benefit) | 4,035 | — | — | — | (586) | — | 3,449 | ||||||||||||||||||||||||||||||||||
| Net income | 9,401 | 107 | (920) | 3,396 | 5,152 | (7,486) | 9,650 | ||||||||||||||||||||||||||||||||||
| Assets | $ | 736,100 | $ | 22,523 | $ | 600,877 | $ | 56,892 | $ | 786,420 | $ | (693,235) | $ | 1,509,577 | |||||||||||||||||||||||||||
| Balance Sheets - Universal Processing Services of Wisconsin, LLC | As of September 30, 2017 | As of December 31, 2016 | ||||||
| Current assets | $ | 8,014 | $ | 11,522 | ||||
| Noncurrent assets | 19,265 | 4,907 | ||||||
| Total assets | $ | 27,279 | $ | 16,429 | ||||
| Current liabilities | 3,500 | 5,619 | ||||||
| Noncurrent liabilities | 30,499 | 16,432 | ||||||
| Total liabilities | $ | 33,999 | $ | 22,051 | ||||
| Total deficit | $ | (6,720 | ) | $ | (5,622 | ) | ||
| Statements of Income - Universal Processing Services of Wisconsin, LLC | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | ||||||||||||
| Revenue | $ | 27,119 | $ | 26,466 | $ | 82,879 | $ | 76,947 | ||||||||
| Expenses | 24,925 | 24,553 | 76,559 | 71,410 | ||||||||||||
| Income from operations | $ | 2,194 | $ | 1,913 | $ | 6,320 | $ | 5,537 | ||||||||
| Interest (expense) income, net | (328 | ) | (384 | ) | (1,115 | ) | (1,048 | ) | ||||||||
| Income before tax | $ | 1,866 | $ | 1,529 | $ | 5,205 | $ | 4,489 | ||||||||
| Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | |||||||||||||
| Dividend income | $ | 1,750 | $ | 1,700 | $ | 5,250 | $ | 4,500 | ||||||||
| Unrealized appreciation | $ | 2,000 | $ | 5,900 | $ | 3,000 | $ | 9,600 | ||||||||
| Portfolio Company | Type of Investment (1) | Amount of Realized Gain (Loss) | Amount of Unrealized Appreciation (Depreciation) | Amount of Interest or Dividends Credited to Income (3) | Fair Value at December 31, 2016 | Gross Additions (4) | Gross Reductions (5) | Fair Value at September 30, 2017 | ||||||||||||||||||||||
| Advanced Cyber Security Systems, LLC | 50% Membership Interest (2) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
| Term Loan (3%) (2) | — | — | — | — | — | — | — | |||||||||||||||||||||||
| Automated Merchant Services, Inc. | 100% Common Stock (2) | — | — | — | — | — | — | — | ||||||||||||||||||||||
| CDS Business Services, Inc. | 100% Common Stock | — | 4,750 | 200 | 750 | 4,750 | — | 5,500 | ||||||||||||||||||||||
| Line of Credit (Prime + 2.5%) (6) | — | — | 376 | 2,690 | 15,703 | (10,498 | ) | 7,895 | ||||||||||||||||||||||
| Newtek Technology Solutions, Inc. | 100% Common Stock | — | (4,059 | ) | — | 20,109 | — | (4,109 | ) | 16,000 | ||||||||||||||||||||
| Fortress Data Management, LLC | 100% Membership Interest (2) | — | — | — | — | — | — | — | ||||||||||||||||||||||
| Newtek Insurance Agency, LLC | 100% Membership Interest (2) | — | — | — | 2,500 | — | — | 2,500 | ||||||||||||||||||||||
| PMTWorks Payroll, LLC | 100% Membership Interest (2) | — | (860 | ) | — | 860 | — | (860 | ) | — | ||||||||||||||||||||
| Term Loans (10%-12%) (2) | — | (2,185 | ) | — | 1,185 | 1,000 | (2,185 | ) | — | |||||||||||||||||||||
| Secure CyberGateway Services, LLC | 66.7% Membership Interest | — | — | 26 | — | — | — | — | ||||||||||||||||||||||
| Term Loan (7%) | — | — | 10 | — | — | — | — | |||||||||||||||||||||||
| Premier Payments LLC | 100% Membership Interest | — | — | 1,200 | 21,000 | — | — | 21,000 | ||||||||||||||||||||||
| Small Business Lending, LLC | 100% Membership Interest | — | (800 | ) | 100 | 3,300 | — | (800 | ) | 2,500 | ||||||||||||||||||||
| Portfolio Company | Type of Investment (1) | Amount of Realized Gain (Loss) | Amount of Unrealized Appreciation (Depreciation) | Amount of Interest or Dividends Credited to Income (3) | Fair Value at December 31, 2016 | Gross Additions (4) | Gross Reductions (5) | Fair Value at September 30, 2017 | ||||||||||||||||||||||
| banc-serv Partners, LLC | 100% Membership Interest | — | (2,000 | ) | — | 5,400 | — | (2,000 | ) | 3,400 | ||||||||||||||||||||
| International Professional Marketing, Inc. (8) | 100% Common Stock | — | — | 550 | — | 8,800 | — | 8,800 | ||||||||||||||||||||||
| Line of Credit (Prime + 0.5%) (6) | — | — | 6 | — | 1,200 | (1,000 | ) | 200 | ||||||||||||||||||||||
| SIDCO, LLC (8) | 100% Membership Interest (2) | — | — | — | — | 2,320 | — | 2,320 | ||||||||||||||||||||||
| Line of Credit (Prime + 0.5%) (6) | — | — | 2 | — | 345 | — | 345 | |||||||||||||||||||||||
| Excel WebSolutions LLC (7) | Term Loans (10%) | — | (47 | ) | 56 | 904 | — | (415 | ) | 489 | ||||||||||||||||||||
| 50% Membership Interest (2) | — | — | — | — | — | — | — | |||||||||||||||||||||||
| Titanium Asset Management, LLC | 100% Membership Interest (2) | — | (42 | ) | — | — | — | — | — | |||||||||||||||||||||
| Term Loans (3%) (2) | — | — | 6 | 508 | — | (508 | ) | — | ||||||||||||||||||||||
| Summit Systems and Designs, LLC | 100% Membership Interest (2) | — | — | 54 | — | — | — | — | ||||||||||||||||||||||
| Universal Processing Services of Wisconsin, LLC | 100% Membership Interest | — | 3,000 | 5,250 | 63,000 | 3,000 | — | 66,000 | ||||||||||||||||||||||
| Total Controlled Investments | $ | — | $ | (2,243 | ) | $ | 7,836 | $ | 122,206 | $ | 37,118 | $ | (22,375 | ) | $ | 136,949 | ||||||||||||||
| March 31, 2024 | December 31, 2023 | Change | |||||||||||||||
| Loans held for sale, at fair value | $ | 187,104 | $ | 118,867 | $ | 68,237 | |||||||||||
| Loans held for sale, at LCM | 59,880 | 56,607 | 3,273 | ||||||||||||||
| Loans held for investment, at fair value | 442,928 | 469,801 | (26,873) | ||||||||||||||
| Loans held for investment, at amortized cost, net of deferred fees and costs | 397,625 | 336,305 | 61,320 | ||||||||||||||
| Allowance for credit losses | (16,126) | (12,574) | (3,552) | ||||||||||||||
| Loans held for investment, at amortized cost, net | 381,499 | 323,731 | 57,768 | ||||||||||||||
| Total Loans | $ | 1,071,411 | $ | 969,006 | $ | 102,405 | |||||||||||
| Credit Quality Ratios | March 31, 2024 | December 31, 2023 | ||||||||||||||||||
| $ | % | $ | % | |||||||||||||||||
| At Amortized Cost | ||||||||||||||||||||
| Current | $ | 378,206 | 95.2 | % | $ | 325,643 | 96.9 | % | ||||||||||||
| Past Due 31-89 Days | 11,090 | 2.8 | % | 4,896 | 1.5 | % | ||||||||||||||
| Nonaccrual loans | 8,015 | 2.0 | % | 5,373 | 1.6 | % | ||||||||||||||
| Total, at amortized cost | $ | 397,311 | 100.0 | % | $ | 335,912 | 100.0 | % | ||||||||||||
| Deferred fees and costs | 314 | 393 | ||||||||||||||||||
| Total, at amortized cost, net of deferred fees and costs | $ | 397,625 | $ | 336,305 | ||||||||||||||||
| Allowance for credit losses | (16,126) | 4.1 | % | $ | (12,574) | 3.7 | % | |||||||||||||
| At Fair Value | ||||||||||||||||||||
| Current | $ | 331,236 | 74.7 | % | $ | 385,172 | 81.9 | % | ||||||||||||
| Past Due 31-89 Days | 61,862 | 14.0 | % | 36,455 | 7.8 | % | ||||||||||||||
| Past Due 90+ Days and accruing | 3,829 | 0.9 | % | — | — | % | ||||||||||||||
| Nonaccrual loans | 46,001 | 10.4 | % | 48,174 | 10.3 | % | ||||||||||||||
| Total | $ | 442,928 | 100.0 | % | $ | 469,801 | 100.0 | % | ||||||||||||
| Past due and nonaccrual loans as % of Outstanding UPB | $ | 111,692 | 99.2 | % | $ | 84,629 | 75.2 | % | ||||||||||||
| Nonperforming Assets, as a percentage of total assets | ||||||||||||||||||||
| Loans HFI, at amortized cost | $ | 8,015 | 0.5 | % | $ | 5,373 | 0.4 | % | ||||||||||||
| Loans HFI, at fair value | 46,001 | 3.0 | % | 48,174 | 3.3 | % | ||||||||||||||
| Other real estate owned | 2,438 | 0.2 | % | 1,110 | 0.1 | % | ||||||||||||||
| Total Nonperforming Assets | $ | 56,454 | 3.7 | % | $ | 54,657 | 3.8 | % | ||||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||
| HFI at Amortized Cost, net of deferred fees and costs | HFS at LCM | Total | LTV by CRE Type | HFI at Amortized Cost, net of deferred fees and costs | HFS at LCM | Total | LTV by CRE Type | |||||||||||||||||||||||||||||||||||||||||||
| Loans not backed by CRE | $ | 259,183 | $ | 22,646 | $ | 281,829 | $ | 203,405 | $ | — | $ | 203,405 | ||||||||||||||||||||||||||||||||||||||
| Loans backed by CRE | 138,442 | 37,234 | 175,676 | 132,900 | 56,607 | 189,507 | ||||||||||||||||||||||||||||||||||||||||||||
| Total loans | 397,625 | 59,880 | 457,505 | 336,305 | 56,607 | 392,912 | ||||||||||||||||||||||||||||||||||||||||||||
| Loans backed by CRE by type: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Retail | $ | 47,645 | $ | — | $ | 47,645 | 52.2 | % | $ | 40,400 | $ | — | $ | 40,400 | 49.7 | % | ||||||||||||||||||||||||||||||||||
| 1-4 Family | 30,183 | — | 30,183 | 57.5 | % | 31,700 | — | 31,700 | 57.6 | % | ||||||||||||||||||||||||||||||||||||||||
| Multifamily | 29,308 | — | 29,308 | 51.7 | % | 29,800 | — | 29,800 | 51.3 | % | ||||||||||||||||||||||||||||||||||||||||
| Industrial | 23,267 | — | 23,267 | 47.0 | % | 23,400 | — | 23,400 | 47.3 | % | ||||||||||||||||||||||||||||||||||||||||
| Office | 4,108 | — | 4,108 | 48.8 | % | 4,100 | — | 4,100 | 48.9 | % | ||||||||||||||||||||||||||||||||||||||||
| Construction and land development | — | 27,134 | 27,134 | 73.9 | % | — | 51,907 | 51,907 | 83.1 | % | ||||||||||||||||||||||||||||||||||||||||
| Hotel | — | 10,100 | 10,100 | 59.2 | % | — | 4,700 | 4,700 | 55.3 | % | ||||||||||||||||||||||||||||||||||||||||
| Other | 3,931 | — | 3,931 | 51.6 | % | 3,500 | — | 3,500 | 52.8 | % | ||||||||||||||||||||||||||||||||||||||||
| Total non-owner occupied HFI at amortized cost | $ | 138,442 | $ | 37,234 | $ | 175,676 | 59.4 | % | $ | 132,900 | $ | 56,607 | $ | 189,507 | 60.3 | % | ||||||||||||||||||||||||||||||||||
| Unfunded Commitments | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Construction and land development | $ | — | $ | 40,777 | $ | 40,777 | 73.9 | % | $ | — | $ | 4,493 | $ | 4,493 | 83.1 | % | ||||||||||||||||||||||||||||||||||
| Hotel | — | 90 | 90 | 59.2 | % | — | — | — | 55.3 | % | ||||||||||||||||||||||||||||||||||||||||
| Multifamily | 30 | — | 30 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Total unfunded commitments | 30 | 40,867 | 40,897 | — | 4,493 | 4,493 | ||||||||||||||||||||||||||||||||||||||||||||
| Total CRE Loans | $ | 138,472 | $ | 78,101 | $ | 216,573 | 59.4 | % | $ | 132,900 | $ | 61,100 | $ | 194,000 | 60.8 | % | ||||||||||||||||||||||||||||||||||
| March 31, 2024 | December 31, 2023 | ||||||||||||||||||||||||||||||||||
| Goodwill | Intangible Assets | Total | Goodwill | Intangible Assets | Total | ||||||||||||||||||||||||||||||
| NBNYC acquisition | $ | 271 | $ | 797 | $ | 1,068 | $ | 271 | $ | 843 | $ | 1,114 | |||||||||||||||||||||||
| Payments segment | 13,814 | — | 13,814 | 13,814 | 13 | 13,827 | |||||||||||||||||||||||||||||
| Technology segment | 11,800 | 3,262 | 15,062 | 11,800 | 3,379 | 15,179 | |||||||||||||||||||||||||||||
| Total | $ | 25,885 | $ | 4,059 | $ | 29,944 | $ | 25,885 | $ | 4,235 | $ | 30,120 | |||||||||||||||||||||||
| Borrowings Outstanding | March 31, 2024 | December 31, 2023 | Change | ||||||||||||||
Other Bank Borrowings1: | |||||||||||||||||
| Webster NMS Note | 35,624 | 36,628 | (1,004) | ||||||||||||||
| SPV I Capital One Facility | 20,241 | 16,080 | 4,161 | ||||||||||||||
| SPV II Deutsche Bank Facility | 18,063 | 6,799 | 11,264 | ||||||||||||||
| SPV III One Florida Bank Facility | 29,753 | 257 | 29,496 | ||||||||||||||
| FHLB Advances | 19,726 | 23,184 | (3,458) | ||||||||||||||
| Total Lines of Credit | 123,407 | 82,948 | 40,459 | ||||||||||||||
Parent Company Notes due 2024, 2025, 2026, and 20281: | |||||||||||||||||
| 2024 5.75% Notes | 38,178 | 38,124 | 54 | ||||||||||||||
| 2025 5.00% Notes | 29,651 | 29,563 | 88 | ||||||||||||||
| 2025 8.125% Notes | 49,564 | 49,433 | 131 | ||||||||||||||
| 2026 5.50% Notes | 113,743 | 113,564 | 179 | ||||||||||||||
| 2028 8.00% Notes | 38,465 | 38,378 | 87 | ||||||||||||||
| Total 2024, 2025, 2026, and 2028 Notes | 269,601 | 269,062 | 539 | ||||||||||||||
Notes Payable - Securitization Trusts1 | 269,480 | 292,112 | (22,632) | ||||||||||||||
| Total | $ | 662,488 | $ | 644,122 | $ | 18,366 | |||||||||||
| Distribution by Business Type | ||||||||||||||
| Business Type | # of Loans | Balance | Average Balance | % of Balance | ||||||||||
| Existing Business | 1,139 | $ | 216,247 | $ | 190 | 81.6 | % | |||||||
| Business Acquisition | 182 | 35,237 | 194 | 13.3 | % | |||||||||
| Start-Up Business | 134 | 13,648 | 102 | 5.1 | % | |||||||||
| Total | 1,455 | $ | 265,132 | $ | 182 | 100.0 | % | |||||||
| Distribution by Business Type | ||||||||||||||
| Business Type | # of Loans | Balance | Average Balance | % of Balance | ||||||||||
| Existing Business | 921 | $ | 177,430 | $ | 193 | 80.7 | % | |||||||
| Business Acquisition | 169 | 30,454 | 180 | 13.9 | % | |||||||||
| Start-Up Business | 138 | 11,900 | 86 | 5.4 | % | |||||||||
| Total | 1,228 | $ | 219,784 | $ | 179 | 100.0 | % | |||||||
| Distribution by Borrower Credit Score | ||||||||||||||
| Credit Score | # of Loans | Balance | Average Balance | % of Balance | ||||||||||
| 500 to 550 | 17 | $ | 2,657 | $ | 156 | 1.0 | % | |||||||
| 551 to 600 | 45 | 10,021 | 223 | 3.8 | % | |||||||||
| 601 to 650 | 209 | 41,938 | 201 | 15.8 | % | |||||||||
| 651 to 700 | 429 | 82,185 | 192 | 31.0 | % | |||||||||
| 701 to 750 | 433 | 78,979 | 182 | 29.8 | % | |||||||||
| 751 to 800 | 271 | 43,835 | 162 | 16.5 | % | |||||||||
| 801 to 850 | 41 | 3,740 | 91 | 1.4 | % | |||||||||
| Not available | 10 | 1,777 | 178 | 0.7 | % | |||||||||
| Total | 1,455 | $ | 265,132 | $ | 182 | 100.0 | % | |||||||
| Distribution by Borrower Credit Score | ||||||||||||||
| Credit Score | # of Loans | Balance | Average Balance | % of Balance | ||||||||||
| 500 to 550 | 17 | $ | 2,036 | $ | 120 | 0.9 | % | |||||||
| 551 to 600 | 38 | 6,748 | 178 | 3.1 | % | |||||||||
| 601 to 650 | 160 | 32,912 | 206 | 15.0 | % | |||||||||
| 651 to 700 | 344 | 64,923 | 189 | 29.5 | % | |||||||||
| 701 to 750 | 372 | 67,006 | 180 | 30.5 | % | |||||||||
| 751 to 800 | 250 | 39,600 | 158 | 18.0 | % | |||||||||
| 801 to 850 | 40 | 4,124 | 103 | 1.9 | % | |||||||||
| Not available | 7 | 2,435 | 348 | 1.1 | % | |||||||||
| Total | 1,228 | $ | 219,784 | $ | 179 | 100.0 | % | |||||||
| Distribution by Primary Collateral Type | ||||||||||||||
| Collateral Type | # of Loans | Balance | Average Balance | % of Balance | ||||||||||
| Commercial Real Estate | 704 | $ | 157,940 | $ | 224 | 59.6 | % | |||||||
| Machinery and Equipment | 227 | 43,374 | 191 | 16.4 | % | |||||||||
| Residential Real Estate | 307 | 25,255 | 82 | 9.5 | % | |||||||||
| Other | 60 | 21,693 | 362 | 8.2 | % | |||||||||
| Accounts Receivable and Inventory | 103 | 13,359 | 130 | 5.0 | % | |||||||||
| Liquid Assets | 13 | 645 | 50 | 0.2 | % | |||||||||
| Furniture and Fixtures | 12 | 1,822 | 152 | 0.7 | % | |||||||||
| Unsecured | 29 | 1,044 | 36 | 0.4 | % | |||||||||
| Total | 1,455 | $ | 265,132 | $ | 182 | 100.0 | % | |||||||
| Distribution by Primary Collateral Type | ||||||||||||||
| Collateral Type | # of Loans | Balance | Average Balance | % of Balance | ||||||||||
| Commercial Real Estate | 589 | $ | 133,263 | $ | 226 | 60.6 | % | |||||||
| Machinery and Equipment | 201 | 37,426 | 186 | 17.0 | % | |||||||||
| Residential Real Estate | 264 | 21,211 | 80 | 9.7 | % | |||||||||
| Other | 45 | 13,822 | 307 | 6.3 | % | |||||||||
| Accounts Receivable and Inventory | 80 | 12,075 | 151 | 5.5 | % | |||||||||
| Liquid Assets | 15 | 667 | 44 | 0.3 | % | |||||||||
| Unsecured | 23 | 883 | 38 | 0.4 | % | |||||||||
| Furniture and Fixtures | 11 | 437 | 40 | 0.2 | % | |||||||||
| Total | 1,228 | $ | 219,784 | $ | 179 | 100.0 | % | |||||||
| Distribution by Days Delinquent | ||||||||||||||
| Delinquency Status | # of Loans | Balance | Average Balance | % of Balance | ||||||||||
| Current | 1,289 | $ | 226,704 | $ | 176 | 85.5 | % | |||||||
| 1 to 30 days | 54 | 13,126 | 243 | 5.0 | % | |||||||||
| 31 to 60 days | 23 | 5,058 | 220 | 1.9 | % | |||||||||
| 61 to 90 days | — | — | — | — | % | |||||||||
| 91 days or greater | 89 | 20,244 | 227 | 7.6 | % | |||||||||
| Total | 1,455 | $ | 265,132 | $ | 182 | 100.0 | % | |||||||
| Distribution by Days Delinquent | ||||||||||||||
| Delinquency Status | # of Loans | Balance | Average Balance | % of Balance | ||||||||||
| Current | 1,119 | $ | 199,170 | $ | 178 | 90.6 | % | |||||||
| 1 to 30 days | 35 | 3,680 | 105 | 1.7 | % | |||||||||
| 31 to 60 days | 7 | 1,570 | 224 | 0.7 | % | |||||||||
| 61 to 90 days | — | — | — | — | % | |||||||||
| 91 days or greater | 67 | 15,364 | 229 | 7.0 | % | |||||||||
| Total | 1,228 | $ | 219,784 | $ | 179 | 100.0 | % | |||||||
| (in thousands) | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Change | ||||||||
| Investment income: | |||||||||||
| Interest income | $ | 4,551 | $ | 2,675 | $ | 1,876 | |||||
| Dividend income | 2,551 | 2,933 | (382 | ) | |||||||
| Servicing income | 1,794 | 1,551 | 243 | ||||||||
| Other income | 705 | 692 | 13 | ||||||||
| Total investment income | $ | 9,601 | $ | 7,851 | $ | 1,750 | |||||
| Three Months Ended March 31, | ||||||||||||||||||||
| 2024 | 2023 (as restated) | Change | ||||||||||||||||||
| Net interest income after provision for credit losses | $ | 4,891 | $ | 3,265 | $ | 1,626 | ||||||||||||||
| Noninterest income | 49,367 | 42,356 | 7,011 | |||||||||||||||||
| Noninterest expense | 41,159 | 39,023 | 2,136 | |||||||||||||||||
| Net income before taxes | 13,099 | 6,598 | 6,501 | |||||||||||||||||
| Income tax (benefit)/expense | 3,449 | (11,952) | 15,401 | |||||||||||||||||
| Net income | $ | 9,650 | $ | 18,550 | $ | (8,900) | ||||||||||||||
| Three Months Ended March 31, | ||||||||||||||||||||
| 2024 | 2023 (as restated) | Change | ||||||||||||||||||
| Interest income | ||||||||||||||||||||
| Debt securities available-for-sale | $ | 460 | $ | 232 | $ | 228 | ||||||||||||||
| Loans and fees on loans | 24,985 | 17,502 | 7,483 | |||||||||||||||||
| Other interest earning assets | 1,622 | 981 | 641 | |||||||||||||||||
| Total interest income | 27,067 | 18,715 | 8,352 | |||||||||||||||||
| Interest expense | ||||||||||||||||||||
| Deposits | 5,576 | 1,475 | 4,101 | |||||||||||||||||
| Notes and securitizations | 10,827 | 8,718 | 2,109 | |||||||||||||||||
| Bank and FHLB borrowings | 1,758 | 3,939 | (2,181) | |||||||||||||||||
| Total interest expense | 18,161 | 14,132 | 4,029 | |||||||||||||||||
| Net interest income | 8,906 | 4,583 | 4,323 | |||||||||||||||||
| Provision for credit losses | 4,015 | 1,318 | 2,697 | |||||||||||||||||
| Net interest income after provision for credit losses | $ | 4,891 | $ | 3,265 | $ | 1,626 | ||||||||||||||
| (in thousands) | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Change | ||||||||
| Universal Processing Services of Wisconsin, LLC | $ | 1,750 | $ | 1,700 | $ | 50 | |||||
| Premier Payments LLC | 375 | 450 | (75 | ) | |||||||
| Newtek Technology Solutions, Inc. | — | 330 | (330 | ) | |||||||
| International Professional Marketing, Inc. | 200 | — | 200 | ||||||||
| Small Business Lending, LLC | — | 200 | (200 | ) | |||||||
| banc-serv Partners, LLC | — | 240 | (240 | ) | |||||||
| CDS Business Services, Inc. | 200 | — | 200 | ||||||||
| The Secure CyberGateway, LLC | 26 | 13 | 13 | ||||||||
| Total dividend income | $ | 2,551 | $ | 2,933 | $ | (382 | ) | ||||
| (in thousands): | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Change | ||||||||
Total NSBF originated servicing portfolio (1) | $ | 1,127,760 | $ | 902,604 | $ | 225,156 | |||||
| Total servicing income earned | $ | 1,794 | $ | 1,551 | $ | 243 | |||||
| (in thousands) | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Change | ||||||||
| Expenses: | |||||||||||
| Salaries and benefits | $ | 4,776 | $ | 3,665 | $ | 1,111 | |||||
| Interest | 2,986 | 2,341 | 645 | ||||||||
| Depreciation and amortization | 107 | 84 | 23 | ||||||||
| Professional fees | 605 | 807 | (202 | ) | |||||||
| Origination and servicing | 1,433 | 1,537 | (104 | ) | |||||||
| Change in fair value of contingent consideration liabilities | (748 | ) | — | (748 | ) | ||||||
| Other general and administrative costs | 1,634 | 1,542 | 92 | ||||||||
| Total expenses | $ | 10,793 | $ | 9,976 | $ | 817 | |||||
| Three Months Ended | |||||||||||||||||
| March 31, 2024 | March 31, 2023 (as restated) | Change | |||||||||||||||
| Deposits | $ | 5,576 | $ | 1,475 | $ | 4,101 | |||||||||||
| Notes and securitizations: | |||||||||||||||||
| Notes payable - Securitization Trusts | 5,966 | 5,034 | 932 | ||||||||||||||
| 2024 Notes | 604 | 605 | (1) | ||||||||||||||
| 2025 5.00% Notes | 462 | 434 | 28 | ||||||||||||||
| 2025 8.125% Notes | 1,147 | 884 | 263 | ||||||||||||||
| 2026 Notes | 1,761 | 1,761 | — | ||||||||||||||
| 2028 Notes | 887 | — | 887 | ||||||||||||||
| Total notes and securitizations | 10,827 | 8,718 | 2,109 | ||||||||||||||
| Bank and FHLB Borrowings: | |||||||||||||||||
| Bank notes payable | 1,614 | 3,732 | (2,118) | ||||||||||||||
| FHLB Advances | 144 | 207 | (63) | ||||||||||||||
| Total bank and FHLB borrowings | 1,758 | 3,939 | (2,181) | ||||||||||||||
| Total interest expense | $ | 18,161 | $ | 14,132 | $ | 4,029 | |||||||||||
| (in thousands) | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Change | ||||||||
| Notes payable - Securitization trusts | $ | 1,294 | $ | 929 | $ | 365 | |||||
| Bank notes payable | 341 | 393 | (52 | ) | |||||||
| Notes due 2022 | 177 | 177 | — | ||||||||
| Notes due 2021 | 792 | 810 | (18 | ) | |||||||
| Notes payable - related parties | 378 | 19 | 359 | ||||||||
| Other | 4 | 13 | (9 | ) | |||||||
| Total interest expense | $ | 2,986 | $ | 2,341 | $ | 645 | |||||
| Three Months Ended March 31, | |||||||||||||||||||||||||||||||||||
| 2024 | 2023 (as restated) | ||||||||||||||||||||||||||||||||||
| Average Balance | Interest | Average Yield / Rate | Average Balance | Interest | Average Yield / Rate | ||||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||
| Interest-earning balances in other banks | $ | 128,117 | $ | 1,622 | 5.09 | % | $ | 114,911 | $ | 981 | 3.42 | % | |||||||||||||||||||||||
| Investment securities | 38,883 | 460 | 4.76 | 20,874 | 232 | 4.51 | |||||||||||||||||||||||||||||
| Loans held for sale | 154,983 | 5,027 | 13.05 | 91,697 | 2,907 | 12.86 | |||||||||||||||||||||||||||||
| Loans held for investment | 903,626 | 19,958 | 8.88 | 701,766 | 14,595 | 8.43 | |||||||||||||||||||||||||||||
| Total interest-earning assets | 1,225,609 | 27,067 | 8.88 | 929,248 | 18,715 | 7.99 | |||||||||||||||||||||||||||||
| Less: Allowance for credit losses on loans | (12,613) | (2,092) | |||||||||||||||||||||||||||||||||
| Noninterest earning assets | 188,558 | 187,891 | |||||||||||||||||||||||||||||||||
| Total assets | $ | 1,401,554 | $ | 1,115,047 | |||||||||||||||||||||||||||||||
| Interest-bearing liabilities | |||||||||||||||||||||||||||||||||||
| Demand | $ | 18,730 | $ | 29 | 0.62 | % | $ | 24,267 | $ | — | — | % | |||||||||||||||||||||||
| Savings, Super NOW | 251,766 | 3,163 | 5.05 | 8,859 | 92 | 4.22 | |||||||||||||||||||||||||||||
| Money Market | 16,868 | 198 | 4.72 | 20,420 | 219 | 4.35 | |||||||||||||||||||||||||||||
| Time | 177,985 | 2,186 | 4.94 | 113,756 | 1,164 | 4.15 | |||||||||||||||||||||||||||||
| Total deposits | 465,349 | 5,576 | 4.82 | 167,302 | 1,475 | 3.58 | |||||||||||||||||||||||||||||
| Borrowings | 636,523 | 12,585 | 7.95 | 672,156 | 12,657 | 7.64 | |||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 1,101,872 | 18,161 | 6.63 | 839,458 | 14,132 | 6.83 | |||||||||||||||||||||||||||||
| Noninterest-bearing deposits | 202 | 2,471 | |||||||||||||||||||||||||||||||||
| Noninterest-bearing liabilities | 61,649 | 66,017 | |||||||||||||||||||||||||||||||||
| Shareholders’ equity | 237,831 | 207,101 | |||||||||||||||||||||||||||||||||
| Total liabilities and shareholders' equity | $ | 1,401,554 | $ | 1,115,047 | |||||||||||||||||||||||||||||||
| Net interest income and interest rate spread | $ | 8,906 | 2.25 | % | $ | 4,583 | 1.16 | % | |||||||||||||||||||||||||||
| Net interest margin | 2.92 | % | 2.00 | % | |||||||||||||||||||||||||||||||
| Ratio of average interest-earning assets to average interest bearing liabilities | 111.23 | % | 110.70 | % | |||||||||||||||||||||||||||||||
| Three Months Ended March 31, | Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||
| 2024 vs. 2023 | 2023 vs. 2022 | ||||||||||||||||||||||||||||||||||
| Increase (Decrease) Due to | Increase (Decrease) Due to | ||||||||||||||||||||||||||||||||||
| Rate | Volume | Total | Rate | Volume1 | Total | ||||||||||||||||||||||||||||||
| Interest income: | |||||||||||||||||||||||||||||||||||
| Interest-earning balances in other banks | $ | 528 | $ | 113 | $ | 641 | $ | 382 | $ | (69) | $ | 313 | |||||||||||||||||||||||
| Investment securities | 31 | 200 | 231 | — | 232 | 232 | |||||||||||||||||||||||||||||
| Loans held for sale | 113 | 2,007 | 2,120 | (4,346) | 1,947 | (2,399) | |||||||||||||||||||||||||||||
| Loans held for investment | 1,160 | 4,200 | 5,360 | 10,108 | 2,718 | 12,826 | |||||||||||||||||||||||||||||
| Total interest income | 1,832 | 6,520 | 8,352 | 6,144 | 4,828 | 10,972 | |||||||||||||||||||||||||||||
| Interest expense: | |||||||||||||||||||||||||||||||||||
| Demand | 29 | — | 29 | — | — | — | |||||||||||||||||||||||||||||
| Savings, Super NOW | 546 | 2,525 | 3,071 | — | 92 | 92 | |||||||||||||||||||||||||||||
| Money Market | 17 | (38) | (21) | — | 219 | 219 | |||||||||||||||||||||||||||||
| Time | 365 | 656 | 1,021 | — | 1,164 | 1,164 | |||||||||||||||||||||||||||||
| Borrowings | 599 | (671) | (72) | 836 | 7,154 | 7,990 | |||||||||||||||||||||||||||||
| Total interest expense | 1,556 | 2,472 | 4,028 | 836 | 8,629 | 9,465 | |||||||||||||||||||||||||||||
| Net interest income | $ | 276 | $ | 4,048 | $ | 4,324 | $ | 5,308 | $ | (3,801) | $ | 1,507 | |||||||||||||||||||||||
| Three months ended March 31, | 2024/2023 Increase/(Decrease) | ||||||||||||||||||||||
| 2024 | 2023 (as restated) | Amount | Percent | ||||||||||||||||||||
| Dividend income | $ | 386 | $ | 504 | $ | (118) | (23.4) | % | |||||||||||||||
| Loan servicing asset revaluation | (1,735) | 919 | (2,654) | (288.8) | |||||||||||||||||||
| Servicing income | 5,357 | 4,403 | 954 | 21.7 | |||||||||||||||||||
| Net gains on sales of loans | 20,292 | 6,367 | 13,925 | 218.7 | |||||||||||||||||||
| Net gain on loans under the fair value option | 2,798 | 5,905 | (3,107) | (52.6) | |||||||||||||||||||
| Technology and IT support income | 5,770 | 6,709 | (939) | (14.0) | |||||||||||||||||||
| Electronic payment processing income | 10,987 | 10,328 | 659 | 6.4 | |||||||||||||||||||
| Other noninterest income | 5,512 | 7,221 | (1,709) | (23.7) | |||||||||||||||||||
| Total noninterest income | $ | 49,367 | $ | 42,356 | $ | 7,011 | 16.6 | % | |||||||||||||||
| Three Months Ended | |||||||||||
| March 31, 2024 | March 31, 2023 (as restated) | ||||||||||
| $ Amount | $ Amount | ||||||||||
| Realized gains recognized on sale of SBA loans | $ | 20,777 | $ | 13,882 | |||||||
| Realized losses recognized on sale of SBA loans | (485) | (7,515) | |||||||||
| Net gains on sales of loans | $ | 20,292 | $ | 6,367 | |||||||
| Three Months Ended | |||||||||||||
| September 30, 2017 | September 30, 2016 | ||||||||||||
| (in thousands) | # of Debt Investments | $ Amount | # of Debt Investments | $ Amount | |||||||||
| SBA non-affiliate investments originated during the quarter | 122 | $ | 103,635 | 96 | $ | 85,895 | |||||||
| SBA guaranteed non-affiliate investments sold during the quarter | 117 | $ | 68,461 | 98 | $ | 66,453 | |||||||
| Realized gains recognized on sale of SBA guaranteed non-affiliate investments | — | $ | 10,025 | — | $ | 9,489 | |||||||
| Average sale price as a percent of principal balance (1) | — | 112.31 | % | — | 111.84 | % | |||||||
| Three Months Ended | |||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 (as restated) | ||||||||||||||||||||||
| # of Loans | $ Amount | # of Loans | $ Amount | ||||||||||||||||||||
| SBA loans originated | 489 | $ | 211,504 | 321 | $ | 147,911 | |||||||||||||||||
| SBA guaranteed loans sold | 408 | 156,417 | 248 | 109,551 | |||||||||||||||||||
Average sale price as a percent of principal balance1 | 111.23 | % | 111.83 | % | |||||||||||||||||||
| (in thousands) | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Change | ||||||||
| Net unrealized appreciation (depreciation) on SBA guaranteed non-affiliate investments | $ | 1,151 | $ | (78 | ) | $ | 1,229 | ||||
| Net unrealized (depreciation) appreciation on SBA unguaranteed non-affiliate investments | (1,023 | ) | 1,418 | (2,441 | ) | ||||||
| Net unrealized (depreciation) appreciation on controlled investments | (500 | ) | 4,638 | (5,138 | ) | ||||||
| Change in benefit (provision) for deferred taxes on unrealized (depreciation) appreciation on investments | 335 | (2,028 | ) | 2,363 | |||||||
| Net unrealized loss in credits in lieu of cash and notes payable in credits in lieu of cash | — | (1 | ) | 1 | |||||||
| Total net unrealized (depreciation) appreciation on investments | $ | (37 | ) | $ | 3,949 | $ | (3,986 | ) | |||
| For the three months ended | |||||||||||||||||
| March 31, 2024 | March 31, 2023 (as restated) | Change | |||||||||||||||
| SBA 7(a) Unguaranteed Loans | $ | (1,891) | $ | 6,076 | $ | (7,967) | |||||||||||
| SBA 7(a) Guaranteed Loans | 13 | 257 | (244) | ||||||||||||||
| SBA 504 and Non-SBA Loans | 4,676 | (428) | 5,104 | ||||||||||||||
| Net Gain (Loss) on Loans Accounted for Under the Fair Value Option | $ | 2,798 | $ | 5,905 | $ | (3,107) | |||||||||||
| (in thousands) | Three Months Ended September 30, 2017 | Three Months Ended September 30, 2016 | Change | ||||||||
| Universal Processing Services of Wisconsin, LLC | $ | 2,000 | $ | 5,852 | $ | (3,852 | ) | ||||
| Newtek Technology Solutions, Inc. | (1,500 | ) | (1,305 | ) | (195 | ) | |||||
| Premier Payments LLC | — | 750 | (750 | ) | |||||||
| CDS Business Services, Inc. | 2,000 | (700 | ) | 2,700 | |||||||
| PMTWorks Payroll, LLC | (1,000 | ) | (25 | ) | (975 | ) | |||||
| banc-serv Partners, LLC | (2,000 | ) | — | (2,000 | ) | ||||||
| Titanium Asset Management LLC | — | 66 | (66 | ) | |||||||
| Total net unrealized (depreciation) appreciation on controlled investments | $ | (500 | ) | $ | 4,638 | $ | (5,138 | ) | |||
| (in thousands) | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | Change | ||||||||
| Investment income: | |||||||||||
| Interest income | $ | 13,689 | $ | 7,655 | $ | 6,034 | |||||
| Dividend income | 7,326 | 7,719 | (393 | ) | |||||||
| Servicing income | 5,163 | 4,581 | 582 | ||||||||
| Other income | 2,320 | 1,913 | 407 | ||||||||
| Total investment income | $ | 28,498 | $ | 21,868 | $ | 6,630 | |||||
| (in thousands) | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | Change | ||||||||
| Universal Processing Services of Wisconsin, LLC | $ | 5,250 | $ | 4,500 | $ | 750 | |||||
| Premier Payments LLC | 1,200 | 1,350 | (150 | ) | |||||||
| Newtek Technology Solutions, Inc. | — | 990 | (990 | ) | |||||||
| International Professional Marketing, Inc. | 550 | — | 550 | ||||||||
| Small Business Lending, LLC | 100 | 600 | (500 | ) | |||||||
| banc-serv Partners, LLC | — | 240 | (240 | ) | |||||||
| CDS Business Services, Inc. | 200 | — | 200 | ||||||||
| The Secure CyberGateway, LLC | 26 | 39 | (13 | ) | |||||||
| Total dividend income | $ | 7,326 | $ | 7,719 | $ | (393 | ) | ||||
| (in thousands): | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | Change | ||||||||
Total NSBF originated servicing portfolio (1) | $ | 1,127,760 | $ | 902,604 | $ | 225,156 | |||||
| Total servicing income earned | $ | 5,163 | $ | 4,581 | $ | 582 | |||||
| (in thousands) | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | Change | ||||||||
| Expenses: | |||||||||||
| Salaries and benefits | $ | 14,407 | $ | 10,638 | $ | 3,769 | |||||
| Interest | 8,133 | 5,804 | 2,329 | ||||||||
| Depreciation and amortization | 292 | 209 | 83 | ||||||||
| Professional fees | 2,054 | 2,519 | (465 | ) | |||||||
| Origination and servicing | 4,086 | 4,190 | (104 | ) | |||||||
| Change in fair value of contingent consideration liabilities | (748 | ) | — | (748 | ) | ||||||
| Other general and administrative costs | 5,239 | 6,094 | (855 | ) | |||||||
| Total expenses | $ | 33,463 | $ | 29,454 | $ | 4,009 | |||||
| Three months ended March 31, | 2024/2023 Increase/(Decrease) | ||||||||||||||||||||||
| 2024 | 2023 (as restated) | Amount | Percent | ||||||||||||||||||||
| Salaries and employee benefits expense | $ | 20,506 | $ | 19,073 | $ | 1,433 | 7.5 | % | |||||||||||||||
| Technology services expense | 3,408 | 3,803 | (395) | (10.4) | |||||||||||||||||||
| Electronic payment processing expense | 4,846 | 4,504 | 342 | 7.6 | |||||||||||||||||||
| Professional services expense | 4,565 | 3,440 | 1,125 | 32.7 | |||||||||||||||||||
| Other loan origination and maintenance expense | 2,244 | 2,781 | (537) | (19.3) | |||||||||||||||||||
| Depreciation and amortization | 532 | 791 | (259) | (32.7) | |||||||||||||||||||
| Other general and administrative costs | 5,058 | 4,631 | 427 | 9.2 | |||||||||||||||||||
| Total other expense | $ | 41,159 | $ | 39,023 | $ | 2,136 | 5.5 | % | |||||||||||||||
| (in thousands) | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | Change | ||||||||
| Notes payable - Securitization trusts | $ | 4,096 | $ | 2,808 | $ | 1,288 | |||||
| Bank notes payable | 700 | 840 | (140 | ) | |||||||
| Notes due 2022 | 530 | 531 | (1 | ) | |||||||
| Notes due 2021 | 2,372 | 1,389 | 983 | ||||||||
| Notes payable - related parties | 418 | 196 | 222 | ||||||||
| Other | 17 | 40 | �� | (23 | ) | ||||||
| Total interest expense | $ | 8,133 | $ | 5,804 | $ | 2,329 | |||||
| For the three months ended | 2024/2023 Increase/(Decrease) | ||||||||||||||||||||||||||||
| March 31, 2024 | March 31, 2023 (as restated) | Amount | Percent | ||||||||||||||||||||||||||
| Banking | $ | 9,401 | $ | (1,918) | $ | 11,319 | (590) | % | |||||||||||||||||||||
| Technology | 107 | 263 | (156) | (59) | % | ||||||||||||||||||||||||
| NSBF | (920) | 13,547 | (14,467) | (107) | % | ||||||||||||||||||||||||
| Payments | 3,396 | 2,664 | 732 | 27 | % | ||||||||||||||||||||||||
| Other | (2,334) | 3,994 | (6,328) | (158) | % | ||||||||||||||||||||||||
| Consolidated net income | $ | 9,650 | $ | 18,550 | $ | (8,900) | (48) | % | |||||||||||||||||||||
| Nine Months Ended | |||||||||||||
| September 30, 2017 | September 30, 2016 | ||||||||||||
| (in thousands) | # of Debt Investments | $ Amount | # of Debt Investments | $ Amount | |||||||||
| SBA non-affiliate investments originated during the period | 324 | $ | 262,804 | 295 | $ | 217,779 | |||||||
| SBA guaranteed non-affiliate investments sold during the period | 322 | $ | 189,349 | 287 | $ | 160,171 | |||||||
| Realized gains recognized on sale of SBA guaranteed non-affiliate investments | — | $ | 27,668 | — | $ | 23,280 | |||||||
| Average sale price as a percent of principal balance (1) | 112.21 | % | 112.09 | % | |||||||||
| (in thousands) | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | Change | ||||||||
| Net unrealized appreciation on SBA guaranteed non-affiliate investments | $ | 1,201 | $ | 690 | $ | 511 | |||||
| Net unrealized appreciation on SBA unguaranteed non-affiliate investments | 238 | 869 | (631 | ) | |||||||
| Net unrealized (depreciation) appreciation on controlled investments | (2,243 | ) | 10,362 | (12,605 | ) | ||||||
| Change in benefit (provision) for deferred taxes on unrealized (depreciation) appreciation on investments | 745 | (4,469 | ) | 5,214 | |||||||
| Net unrealized depreciation on non-control/non-affiliate investments | — | (43 | ) | 43 | |||||||
| Net unrealized depreciation in credits in lieu of cash and notes payable in credits in lieu of cash | — | (2 | ) | 2 | |||||||
| Total net unrealized (depreciation) appreciation on investments | $ | (59 | ) | $ | 7,407 | $ | (7,466 | ) | |||
| (in thousands) | Nine Months Ended September 30, 2017 | Nine Months Ended September 30, 2016 | Change | ||||||||
| Universal Processing Services of Wisconsin, LLC | $ | 3,000 | $ | 9,552 | $ | (6,552 | ) | ||||
| Newtek Technology Solutions, Inc. | (4,059 | ) | (1,305 | ) | (2,754 | ) | |||||
| Premier Payments LLC | — | 3,997 | (3,997 | ) | |||||||
| CDS Business Services, Inc. | 4,750 | (925 | ) | 5,675 | |||||||
| PMTWorks Payroll, LLC | (3,045 | ) | (25 | ) | (3,020 | ) | |||||
| banc-serv Partners, LLC | (2,000 | ) | — | (2,000 | ) | ||||||
| Small Business Lending, LLC | (800 | ) | (1,000 | ) | 200 | ||||||
| The Secure CyberGateway, LLC | — | 2 | (2 | ) | |||||||
| Titanium Asset Management LLC | (42 | ) | 66 | (108 | ) | ||||||
| Excel WebSolutions, LLC | (47 | ) | — | (47 | ) | ||||||
| Total net unrealized (depreciation) appreciation on controlled investments | $ | (2,243 | ) | $ | 10,362 | $ | (12,605 | ) | |||
| Actual | For Capital Adequacy Purposes1 | For Consideration as Well-Capitalized | |||||||||||||||||||||||||||||||||
| NewtekOne, Inc. - March 31, 2024 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||||||||||||
| Tier 1 Capital (to Average Assets) | $ | 185,313 | 13.7 | % | $ | 54,100 | 4.0 | % | N/A | N/A | |||||||||||||||||||||||||
| Common Equity Tier 1 (to Risk-Weighted Assets) | 185,313 | 17.2 | % | 48,567 | 4.5 | % | N/A | N/A | |||||||||||||||||||||||||||
| Tier 1 Capital (to Risk-Weighted Assets) | 185,313 | 17.2 | % | 64,755 | 6.0 | % | N/A | N/A | |||||||||||||||||||||||||||
| Total Capital (to Risk-Weighted Assets) | 218,574 | 20.3 | % | 86,341 | 8.0 | % | N/A | N/A | |||||||||||||||||||||||||||
| Actual | For Capital Adequacy Purposes1 | For Consideration as Well-Capitalized | |||||||||||||||||||||||||||||||||
| Newtek Bank - March 31, 2024 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||||||||||||
| Tier 1 Capital (to Average Assets) | $ | 100,383 | 15.5 | % | $ | 25,905 | 4.0 | % | $ | 36,957 | 5.0 | % | |||||||||||||||||||||||
| Common Equity Tier 1 (to Risk-Weighted Assets) | 100,383 | 17.7 | % | 25,586 | 4.5 | % | 56,858 | 6.5 | % | ||||||||||||||||||||||||||
| Tier 1 Capital (to Risk-Weighted Assets) | 100,383 | 17.7 | % | 34,114 | 6.0 | % | 45,486 | 8.0 | % | ||||||||||||||||||||||||||
| Total Capital (to Risk-Weighted Assets) | 107,603 | 18.9 | % | 45,486 | 8.0 | % | 32,381 | 10.0 | % | ||||||||||||||||||||||||||
| Purchase date | Number of Shares Purchased | Price per Share | Total | |||||||
| March 10, 2016 | 10 | $ | 12.34 | $ | 123 | |||||
| March 18, 2016 | 20 | 12.45 | 249 | |||||||
| March 18, 2016 | 30 | 12.48 | 375 | |||||||
| March 23, 2016 | 10 | 11.88 | 119 | |||||||
| Total | 70 | $ | 866 | |||||||
| Availability as of | |||||
| March 31, 2024 | |||||
| Unrestricted cash | $ | 12,295 | |||
| Lines of credit at other commercial banks | 23,397 | ||||
| Newtek Bank: | |||||
| Interest bearing deposits in banks | 115,152 | ||||
| FHLB borrowing availability | 54,876 | ||||
| Lines of credit at other financial institutions | 10,000 | ||||
| Total liquidity sources | $ | 215,720 | |||
| (in thousands) | Nine months ended September 30, 2017 | Nine months ended September 30, 2016 | |||||
| Net cash used in operating activities | $ | (76,139 | ) | $ | (23,048 | ) | |
| Net cash used in investing activities | (345 | ) | (294 | ) | |||
| Net cash provided by financing activities | 78,348 | 21,752 | |||||
| Net increase (decrease) in cash and cash equivalents | 1,864 | (1,590 | ) | ||||
| Cash and cash equivalents, beginning of period | 2,051 | 4,308 | |||||
| Cash and cash equivalents, end of period | $ | 3,915 | $ | 2,718 | |||
| Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 (as restated) | ||||||||||
| Net cash used in operating activities | $ | (38,674) | $ | (116,359) | |||||||
| Net cash used in investing activities | (43,805) | (23,898) | |||||||||
| Net cash provided by financing activities | 61,679 | 186,899 | |||||||||
| Net (decrease) increase in cash and restricted cash | (20,800) | 46,642 | |||||||||
| Cash and restricted cash—beginning of period (Note 2) | 184,006 | 125,606 | |||||||||
| Consolidation of cash and restricted cash from controlled investments and business combinations, net of cash paid | — | 24,896 | |||||||||
| Cash and restricted cash—end of period (Note 2) | $ | 163,206 | $ | 197,144 | |||||||
| (in thousands) | Payments due by period | ||||||||||||||||||
| Contractual Obligations | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | ||||||||||||||
| Bank notes payable | $ | 66,146 | $ | 36,926 | $ | 29,220 | $ | — | $ | — | |||||||||
| Securitization notes payable (1) | 97,607 | — | — | — | 97,607 | ||||||||||||||
| Notes due 2022 (1) | 8,324 | — | — | 8,324 | — | ||||||||||||||
| Notes due 2021 (1) | 40,250 | — | — | 40,250 | — | ||||||||||||||
| Notes payable - related parties | 20,541 | — | — | 20,541 | — | ||||||||||||||
| Employment agreements | 600 | 300 | 300 | — | — | ||||||||||||||
| Operating leases (2) | 12,565 | 502 | 3,153 | 2,298 | 6,612 | ||||||||||||||
| Totals | $ | 246,033 | $ | 37,728 | $ | 32,673 | $ | 71,413 | $ | 104,219 | |||||||||
| Payments due by period | |||||||||||||||||||||||||||||||||||||||||
| Contractual Obligations | Total | 2024 | 2025 | 2026 | 2027 | 2028 | Thereafter | ||||||||||||||||||||||||||||||||||
| Deposits: | |||||||||||||||||||||||||||||||||||||||||
| Demand | $ | 5,466 | $ | 5,466 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||
| Checking | 16,870 | 16,870 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Money market | 27,290 | 27,290 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Savings | 253,595 | 253,595 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Time deposits | 209,721 | 92,829 | 64,999 | 31,530 | 19,574 | 711 | 78 | ||||||||||||||||||||||||||||||||||
Webster NMS Note1 | 35,884 | — | — | — | 35,884 | — | — | ||||||||||||||||||||||||||||||||||
| FHLB Advances | 19,726 | 7,476 | 4,902 | 2,094 | 5,254 | — | — | ||||||||||||||||||||||||||||||||||
SPV I Capital One Facility1 | 20,400 | — | 20,400 | — | — | — | — | ||||||||||||||||||||||||||||||||||
SPV II Deutsche Bank Facility1 | 18,136 | 18,136 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
SPV III One Florida Bank Facility1 | 29,850 | — | 29,850 | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Securitization Notes Payable | 273,269 | — | — | — | — | — | 273,269 | ||||||||||||||||||||||||||||||||||
| Parent Company Notes: | |||||||||||||||||||||||||||||||||||||||||
| Notes due 2024 | 38,250 | 38,250 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Notes due 2025 | 80,000 | — | 80,000 | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Notes due 2026 | 115,000 | — | — | 115,000 | — | — | — | ||||||||||||||||||||||||||||||||||
| Notes due 2028 | 40,000 | — | — | — | — | 40,000 | — | ||||||||||||||||||||||||||||||||||
| Employment Agreements | 3,014 | 2,274 | 740 | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Operating Leases | 6,800 | 2,075 | 2,461 | 1,835 | 429 | — | — | ||||||||||||||||||||||||||||||||||
| Totals | $ | 1,193,271 | $ | 464,261 | $ | 203,352 | $ | 150,459 | $ | 61,141 | $ | 40,711 | $ | 273,347 | |||||||||||||||||||||||||||
| 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 2 | Observable 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, | |||||||
| Level 3 | Unobservable 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 | |||||||
| Basis Point ("bp") Change in | Estimated Increase/Decrease in Net Interest Income | Estimated Percentage Change in EVE | ||||||||||||||||||
| Interest Rates | 12 Months Beginning March 31, 2024 | 12 Months Beginning March 31, 2025 | As of March 31, 2024 | |||||||||||||||||
| +200 | 11.1% | 12.6% | 1.4% | |||||||||||||||||
| +100 | 5.6 | 6.1 | 0.7 | |||||||||||||||||
| -100 | (2.4) | (3.9) | (0.3) | |||||||||||||||||
| -200 | (3.3) | (5.8) | (0.7) | |||||||||||||||||
| Number | ||||||||
| Description | ||||||||
| 101 | Interactive Data Files Pursuant to Rule 405 of Regulation S-T: (i) the Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023; (ii) the Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023; (iii) the Consolidated Statements of Changes in Stockholders Equity for the three months ended March 31, 2024 and 2023; (iv) the Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023; and (v) the Notes to the Consolidated Financial Statements. | |||||||
| 104 | Cover Page Interactive Data File (formatted in inline XBRL and contained in Exhibit 101) | |||||||
| NEWTEKONE, INC. | ||||||||
| Date: May 10, 2024 | ||||||||
| By: | /S/ BARRY SLOANE | |||||||
| Barry Sloane | ||||||||
President and Chairman of the Board (Principal Executive Officer) | ||||||||
| Date: May 10, 2024 | By: | /S/ M. SCOTT PRICE | ||||||
| M. Scott Price | ||||||||
Chief (Principal Financial | ||||||||