10-Q 1 newt-63019x10q.htm 10-Q Document

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

FORM 10-Q

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

For the quarterly period ended June 30, 2019

OR

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

For the transition period from _____to_____
Commission file number: 814-01035
NEWTEK BUSINESS SERVICES CORP.
(Exact name of registrant as specified in its charter)
  
Maryland
 
46-3755188
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification No.)
 
 
 
1981 Marcus Avenue, Suite 130, Lake Success, New York
 
11042
(Address of principal executive offices)
 
(Zip Code)
Registrant’s telephone number, including area code: (212) 356-9500
Securities registered pursuant to Section 12(b) of the Act:
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
7.50% Notes due 2022
 
NEWTZ
 
Nasdaq Global Market LLC
6.25% Notes due 2023
 
NEWTI
 
Nasdaq Global Market LLC
5.75% Notes due 2024
 
NEWTL
 
Nasdaq Global Market LLC
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ¨    No  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
 
o
Accelerated filer
 
x
 
 
 
 
 
 
Non-accelerated filer
 
o
Smaller reporting company
 
o
 
 
 
 
 
 
 
 
 
Emerging growth company
 
o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial or accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x
As of August 8, 2019, there were 19,162,024 shares issued and outstanding of the registrant’s Common Stock, par value $0.02 per share.




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




Defined Terms

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

Terms
 
1940 Act
Investment Company Act of 1940, as amended
2010-1 Trust
Newtek Small Business Loan Trust, Series 2010-1, terminated in March 2019
2013-1 Trust
Newtek Small Business Loan Trust, Series 2013-1
2014-1 Trust
Newtek Small Business Loan Trust, Series 2014-1, terminated in July 2019
2016-1 Trust
Newtek Small Business Loan Trust, Series 2016-1
2017-1 Trust
Newtek Small Business Loan Trust, Series 2017-1
2018-1 Trust
Newtek Small Business Loan Trust, Series 2018-1
2021 Notes
7.00% Notes due 2021
2022 Notes
7.50% Notes due 2022
2023 Notes
6.25% Notes due 2023
2024 Notes
5.75% Notes due 2024
ASC
Accounting Standards Codification, as issued by the FASB
ASU
Accounting Standards Updates, as issued by the FASB
ATM Equity Distribution Agreement
Second Amended and Restated Equity Distribution Agreement, dated August 31, 2018 by and among the Company and the Placement Agents
2019 ATM Equity Distribution Agreement
Equity Distribution Agreement, dated July 10, 2019 by and among the Company and the Placement Agents
BDC
Business Development Company under the 1940 Act
Board
The Company's board of directors
Capital One
Capital One Bank, N.A.
Code
Internal Revenue Code of 1986, as amended
DRIP
The Company's dividend reinvestment plan
EBITDA
Earnings before interest, taxes, depreciation and amortization
Equity Incentive Plan
The Company's 2015 Equity Incentive Plan
Exchange Act
Securities and Exchange Act of 1934, as amended
FASB
Financial Accounting Standards Board
LIBOR
London Interbank Offered Rate
NAV
Net Asset Value
NBL Facility
Revolving Credit and Security Agreement between NBL SPV1, LLC, a wholly-owned subsidiary of NBL and Capital One
Related Party RLOC
Unsecured revolving line of credit agreement between NMS as lender and Newtek as borrower
PLP
Preferred Lender Program, as authorized by the SBA
Redemption Date
March 23, 2018
RIC
Regulated investment company under the Code
S&P
Standard and Poor's
SBA
United States Small Business Administration
SBLC
Small Business Lending Company
SEC
Securities and Exchange Commission
SMB
Small-and-medium sized businesses
Sterling
Sterling National Bank



Sterling 504 Facility
Loan and Security Agreement between NBC and Sterling, as lender to originate SBA 504 loans
Sterling Receivable and Inventory Facility
Loan and Security Agreement between NBC and Sterling, as lender to fund accounts receivable and inventory financing arrangements
Taxable Subsidiaries
Companies formed by Newtek which are taxed as corporations for income tax purposes
Trustee
U.S. Bank, N.A.
U.S. GAAP or GAAP
Generally accepted accounting principles in the United States
 
 
Portfolio Companies and Subsidiaries
 
NSBF
Newtek Small Business Finance, LLC, a consolidated subsidiary
NBL
Newtek Business Lending, LLC, a wholly-owned controlled portfolio company
NCL
Newtek Conventional Lending, LLC, a 50% owned portfolio company
Exponential
Exponential Business Development Co., Inc., a Taxable Subsidiary
NMS
 Newtek Merchant Solutions, LLC (formerly Universal Processing Services of Wisconsin LLC), a wholly-owned controlled portfolio company
Premier
Premier Payments LLC, a former wholly-owned controlled portfolio company which merged into NMS at December 31, 2018
Mobil Money
Mobil Money, LLC, a wholly-owned controlled portfolio company
NTS
Newtek Technology Solutions, Inc., a wholly-owned controlled portfolio company
IPM
International Professional Marketing, Inc., a wholly-owned controlled portfolio company
SIDCO
SIDCO, LLC dba Cloud Nine Services, a wholly-owned controlled portfolio company
EWS
Excel WebSolutions, LLC, a controlled portfolio company
NBCS
CDS Business Services, Inc. dba Newtek Business Credit Solutions, a wholly-owned controlled portfolio company
SBL
Small Business Lending, LLC, a wholly-owned controlled portfolio company
BSP
ADR Partners, LLC dba banc-serv Partners, LLC, a wholly-owned controlled portfolio company
NPS or PMT
PMTWorks Payroll, LLC dba Newtek Payroll and Benefits Solutions, a wholly-owned controlled portfolio company
NIA
Newtek Insurance Agency, LLC, a wholly-owned controlled portfolio company
TAM
Titanium Asset Management LLC, a wholly-owned controlled portfolio company
EMCAP
EMCAP Loan Holdings, LLC





NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(In Thousands, except for Per Share Data)
 
June 30, 2019
 
December 31, 2018
ASSETS
(Unaudited)
 
(Note 1)
Investments, at fair value
 
 
 
SBA unguaranteed non-affiliate investments (cost of $386,753 and $355,589, respectively; includes $270,171 and $323,388, respectively, related to securitization trusts)
$
378,626

 
$
349,402

SBA guaranteed non-affiliate investments (cost of $13,572 and $17,217, respectively)
15,142

 
19,100

Controlled investments (cost of $78,492 and $74,279, respectively)
178,715

 
171,585

Non-control/affiliate investments (cost of $1,000 and $1,000, respectively)
1,000

 
1,000

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

 
9

Total investments at fair value
573,492

 
541,096

Cash
3,585

 
2,316

Restricted cash
26,094

 
29,034

Broker receivable
48,533

 
42,617

Due from related parties
3,561

 
3,232

Servicing assets, at fair value
23,399

 
21,360

Right of use assets
8,512

 

Other assets
14,718

 
13,686

Total assets
$
701,894

 
$
653,341

 
 
 
 
LIABILITIES AND NET ASSETS
 
 
 
Liabilities:
 
 
 
Bank notes payable
$
94,609

 
$
34,700

Notes due 2022 (par: $8,324 as of June 30, 2019 and December 31, 2018, see Note 7)
8,060

 
8,019

Notes due 2023 (par: $57,500 as of June 30, 2019 and December 31, 2018, see Note 7)
55,798

 
55,564

Notes payable - Securitization trusts (par: $190,563 and $220,137 as of June 30, 2019 and December 31, 2018, see Note 7)
187,492

 
216,507

Notes payable - related parties
24,063

 
16,840

Due to related parties
1

 
4

Lease liabilities
10,486

 

Deferred tax liabilities
10,005

 
9,241

Accounts payable, accrued expenses and other liabilities
18,028

 
25,021

Total liabilities
408,542

 
365,896

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

 

Common stock (par value $0.02 per share; authorized 200,000 shares, 19,137 and 18,919 issued and outstanding, respectively)
383

 
379

Additional paid-in capital
259,043

 
254,498

Accumulated undistributed earnings
33,926

 
32,568

Total net assets
293,352

 
287,445

Total liabilities and net assets
$
701,894

 
$
653,341

Net asset value per common share
$
15.33

 
$
15.19


1
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In Thousands, except for Per Share Data)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Investment income
 
 
 
 
 
 
 
From non-affiliate investments:
 
 
 
 
 
 
 
Interest income
$
7,034

 
$
5,503

 
$
14,051

 
$
10,677

Servicing income
2,503

 
2,008

 
4,931

 
4,073

Other income
1,566

 
1,108

 
2,487

 
2,163

Total investment income from non-affiliate investments
11,103

 
8,619

 
21,469

 
16,913

From Non-control/affiliate investments:
 
 
 
 
 
 
 
Dividend income
28

 
10

 
59

 
10

From controlled investments:
 
 
 
 
 
 
 
Interest income
218

 
200

 
435

 
349

Dividend income
2,800

 
2,575

 
5,950

 
5,200

Total investment income from controlled investments
3,018

 
2,775

 
6,385

 
5,549

Total investment income
14,149

 
11,404

 
27,913

 
22,472

Expenses:
 
 
 
 
 
 
 
Salaries and benefits
3,484

 
5,212

 
7,072

 
10,090

Interest
4,712

 
3,792

 
9,447

 
7,304

Depreciation and amortization
124

 
116

 
253

 
236

Professional fees
643

 
587

 
1,627

 
1,527

Origination and servicing
2,128

 
2,168

 
3,781

 
3,773

Origination and servicing - related party
2,471

 

 
4,659

 

Change in fair value of contingent consideration liabilities
9

 
7

 
55

 
17

Loss on extinguishment of debt

 

 

 
1,059

Other general and administrative costs
1,657

 
1,656

 
3,084

 
3,373

Total expenses
15,228

 
13,538

 
29,978

 
27,379

Net investment loss
(1,079
)
 
(2,134
)
 
(2,065
)
 
(4,907
)
Net realized and unrealized gains (losses):
 
 
 
 
 
 
 
Net realized gain on non-affiliate investments - SBA 7(a) loans
12,051

 
10,319

 
21,395

 
20,200

Net realized gain on controlled investments

 
52

 

 
52

Net unrealized (depreciation) appreciation on SBA guaranteed non-affiliate investments
(382
)
 
105

 
(312
)
 
(175
)
Net unrealized (depreciation) appreciation on SBA unguaranteed non-affiliate investments
(4,572
)
 
1,702

 
(1,943
)
 
2,694

Net unrealized appreciation (depreciation) on controlled investments
4,865

 
(1,250
)
 
2,918

 
(80
)
Change in deferred taxes
(1,294
)
 
326

 
(765
)
 
27

Net unrealized depreciation on servicing assets
(911
)
 
(1,499
)
 
(1,467
)
 
(2,078
)
Net realized and unrealized gains
$
9,757

 
$
9,755

 
$
19,826

 
$
20,640

Net increase in net assets resulting from operations
$
8,678

 
$
7,621

 
$
17,761

 
$
15,733

Net increase in net assets resulting from operations per share
$
0.45

 
$
0.41

 
$
0.93

 
$
0.85

Net investment loss per share
$
(0.06
)
 
$
(0.11
)
 
$
(0.11
)
 
$
(0.26
)
Dividends and distributions declared per common share
$
0.46

 
$
0.42

 
$
0.86

 
$
0.82

Weighted average number of shares outstanding
19,113

 
18,680

 
19,058

 
18,588


2
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS (UNAUDITED)
(In Thousands)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Increase in net assets:
 
 
 
 
 
 
 
Net investment loss
$
(1,079
)
 
$
(2,134
)
 
$
(2,065
)
 
$
(4,907
)
Net realized gains on investments
12,051

 
10,371

 
21,395

 
20,252

Net unrealized (depreciation) appreciation on investments
(2,294
)
 
(616
)
 
(1,569
)
 
388

Net increase in net assets resulting from operations
8,678

 
7,621

 
17,761

 
15,733

Distributions to common stockholders
(8,741
)
 
(7,815
)
 
(16,315
)
 
(15,185
)
Capital share transactions:
 
 
 
 
 
 
 
Issuance of common stock under dividend reinvestment plan
261

 
178

 
479

 
346

Stock-based compensation expense
118

 
177

 
278

 
242

Issuance of common stock in connection with investment in Mobil Money, LLC

 
200

 

 
200

Purchase of vested stock for employee payroll tax withholding
(76
)
 

 
(76
)
 
(32
)
Issuance of common stock, net of offering costs
1,106

 
2,647

 
3,650

 
2,647

Net increase in net assets from capital share transactions
1,409

 
3,202

 
4,331

 
3,403

Impact of ASC 842 adoption

 

 
130

 

Total increase in net assets
1,346

 
3,008

 
5,907

 
3,951

Net assets at beginning of period
292,006

 
279,272

 
287,445

 
278,329

Net assets at end of period
$
293,352

 
$
282,280

 
$
293,352

 
$
282,280

Common shares outstanding at end of period
19,137

 
18,745

 
19,137

 
18,745

Capital share activity:
 
 
 
 
 
 
 
Shares issued under dividend reinvestment plan
12

 
9

 
24

 
19

Shares issued in connection with sales of common stock under ATM
53

 
161

 
188

 
161

Shares issued in connection with investment in Mobil Money, LLC

 
11

 

 
11

Purchase of vested stock for employee payroll tax withholding
(4
)
 

 
(4
)
 
(2
)
Restricted shares issued under Equity Incentive Plan, net of forfeitures
2

 
5

 
10

 
99

Net increase in capital activity
63

 
186

 
218

 
288


3
See accompanying notes to unaudited condensed consolidated financial statements.





NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In Thousands)
 
Six Months Ended June 30,
 
2019
 
2018
Cash flows from operating activities:
 
 
 
Net increase in net assets resulting from operations
$
17,761

 
$
15,733

Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:
 
 
 
Net unrealized depreciation (appreciation) on controlled investments
(2,918
)
 
80

Net unrealized depreciation (appreciation) on non-affiliate investments
2,255

 
(2,519
)
Net unrealized depreciation on servicing assets
1,467

 
2,078

Net realized gains on controlled investments

 
(52
)
Net realized gains on non-affiliate investments
(21,395
)
 
(20,200
)
Allowance for doubtful accounts
(60
)
 
24

Change in fair value of contingent consideration liabilities
55

 
17

Loss on extinguishment of debt

 
1,059

Amortization of deferred financing costs
902

 
836

Deferred income taxes
765

 
(27
)
Depreciation and amortization
253

 
236

Funding of guaranteed non-affiliate SBA loans
(163,933
)
 
(151,151
)
Funding of unguaranteed non-affiliate SBA loans
(56,447
)
 
(46,842
)
Funding of controlled investments
(6,198
)
 
(13,509
)
Funding of non-control/affiliate investment

 
(600
)
Proceeds from sale of non-affiliate SBA loans
192,830

 
172,463

Proceeds from sale of controlled investment

 
2,502

Principal received on SBA non-affiliate investments
20,930

 
21,145

Principal received from controlled investments
1,485

 
8,450

Return of investment from controlled investments
500

 

Other, net
46

 
568

Changes in operating assets and liabilities:
 
 
 
Broker receivable
(5,916
)
 
(2,440
)
Due to/from related parties
(272
)
 
(788
)
Other assets
(581
)
 
1,429

Accounts payable, accrued expenses and other liabilities
(4,838
)
 
2,261

Capitalized servicing asset
(3,506
)
 
(3,382
)
Other, net
103

 
(9
)
Net cash used in operating activities
(26,712
)
 
(12,638
)
Cash flows from investing activities:
 
 
 
Purchase of fixed assets
(111
)
 
(208
)
Cash flows from financing activities:
 
 
 
Net borrowings on bank notes payable
59,909

 
31,000

Proceeds from common shares sold, net of offering costs
3,650

 
2,647

Net proceeds under related party line of credit
7,223

 
9,274

Proceeds from Notes due 2023

 
57,500

Redemption of Notes due 2021

 
(40,250
)

4
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In Thousands)
 
Six Months Ended June 30,
Payments on Notes Payable - Securitization Trusts
(29,661
)
 
(22,378
)
Dividends paid
(15,836
)
 
(14,839
)
Additions to deferred financing costs
(55
)
 
(2,336
)
Purchase of vested stock for employee payroll tax withholding
(77
)
 
(34
)
Net cash provided by financing activities
25,152

 
20,584

Net (decrease) increase in cash and restricted cash
(1,671
)
 
7,738

Cash and restricted cash—beginning of period (Note 2)
31,350

 
20,538

Cash and restricted cash—end of period (Note 2)
$
29,679

 
$
28,276

 
 
 
 
Non-cash operating, investing and financing activities:
 
 
 
Foreclosed real estate acquired
$
489

 
$
735

Issuance of common shares in connection with investment in Mobil Money, LLC
$

 
$
200

Issuance of common shares under dividend reinvestment plan
$
479

 
$
346

            


5
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2019 (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) (21)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5161 LLC (#)
 
Nonstore Retailers
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
$
1,187.3

 
$
1,187.3

 
$
1,130.9

 
0.39
%
Specialty Surgery Center, Inc. (#)
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
1,250.0

 
1,250.0

 
1,172.2

 
0.40
%
Sundown Audio, LLC (#)
 
Computer and Electronic Product Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
6/28/2044

 
908.8

 
908.8

 
924.0

 
0.31
%
Southern Specialties Transportation LLC (#)
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
171.3

 
171.3

 
168.9

 
0.06
%
Balboa Fashion LLC (#)
 
Apparel Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
7.5

 
7.5

 
6.7

 
%
Richmond Street Partners, LLC (#)
 
Clothing and Clothing Accessories Stores
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
95.5

 
95.5

 
85.5

 
0.03
%
K & K Restaurant LLC (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
6/28/2044

 
135.0

 
135.0

 
145.3

 
0.05
%
Nevada Recycling and Salvage LTD, AMCB LLC (#)
 
Merchant Wholesalers, Durable Goods
 
Term Loan
 
Prime plus 2.75%
 
6/28/2044

 
1,250.0

 
1,250.0

 
1,275.0

 
0.43
%
Crestview Ridge Farms LLC (#)
 
Crop Production
 
Term Loan
 
Prime plus 2.75%
 
6/28/2044

 
538.0

 
538.0

 
566.1

 
0.19
%
Baobab Asset Management LLC (#)
 
Merchant Wholesalers, Durable Goods
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
50.0

 
50.0

 
44.4

 
0.02
%
Good News Cafe, LLC (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
6/28/2044

 
250.0

 
250.0

 
256.2

 
0.09
%
Big Picture Group LLC (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
150.0

 
150.0

 
133.3

 
0.05
%
H2O Mobile Group, Inc. dba Fantasea Scuba (#)
 
Educational Services
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
47.3

 
47.3

 
42.5

 
0.01
%
Upul's Travel Service & Tours Inc (#)
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
275.0

 
275.0

 
244.4

 
0.08
%
Amigo Transit LLC (#)
 
Transit and Ground Passenger Transportation
 
Term Loan
 
Prime plus 2.75%
 
6/28/2044

 
760.3

 
760.3

 
807.1

 
0.28
%
Kim Howard Corp dba NPN Machine Tools (#)
 
Fabricated Metal Product Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
212.5

 
212.5

 
221.0

 
0.08
%
Jian Yang and Kanger House LLC (#)
 
Nursing and Residential Care Facilities
 
Term Loan
 
Prime plus 2.75%
 
6/27/2029

 
120.0

 
120.0

 
107.0

 
0.04
%
Upul's Travel Service & Tours Inc (#)
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
6/28/2044

 
350.0

 
350.0

 
346.9

 
0.12
%
NJ Floats Inc (#)
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
12/28/2044

 
175.0

 
175.0

 
191.9

 
0.07
%
Anderson Companies LLC (#)
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
6/28/2044

 
203.8

 
203.8

 
213.7

 
0.07
%
Port Huron Ophthalmology, PLLC dba Black River Optical (#)
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
6/28/2029

 
15.0

 
15.0

 
13.3

 
%
Tim's Truck Capital & Auto Sales, Inc (#)
 
Motor Vehicle and Parts Dealers
 
Term Loan
 
Prime plus 2.75%
 
6/27/2029

 
212.5

 
212.5

 
221.0

 
0.08
%
BB Services, LLC (#)
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
6/27/2029

 
113.3

 
113.3

 
103.4

 
0.04
%
Crescent Event Productions, Inc (#)
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
6/27/2029

 
350.0

 
350.0

 
320.0

 
0.11
%
Ailky Corporation & Wyspen Corporation (#)
 
Building Material and Garden Equipment and Supplies Dealers
 
Term Loan
 
Prime plus 2.75%
 
6/27/2029

 
48.8

 
48.8

 
43.9

 
0.01
%
Pawfection Pet Services LLC (#)
 
Personal and Laundry Services
 
Term Loan
 
Prime plus 2.75%
 
6/27/2029

 
10.5

 
10.5

 
9.4

 
%
Moon Landscaping, Inc, Moon Group, Inc moon Nursery, Inc, Moon Site Ma (#)
 
Merchant Wholesalers, Nondurable Goods
 
Term Loan
 
Prime plus 2.75%
 
6/27/2029

 
1,250.0

 
1,250.0

 
1,219.8

 
0.42
%
S & T Hardware Inc (#)
 
Building Material and Garden Equipment and Supplies Dealers
 
Term Loan
 
Prime plus 2.75%
 
6/27/2044

 
203.8

 
203.8

 
224.0

 
0.08
%
Shooter's Gun Club, LLC (#)
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
12/27/2029

 
80.0

 
80.0

 
74.6

 
0.03
%
Boucherie US Inc (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
6/27/2029

 
1,177.4

 
1,177.4

 
1,056.9

 
0.36
%

6
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2019 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
Child Care Ventures LLC dba Childcare Adventures ELC (#)
 
Social Assistance
 
Term Loan
 
Prime plus 2.75%
 
6/26/2044

 
147.5

 
147.5

 
148.3

 
0.05
%
JFK Transportation Inc (#)
 
Transit and Ground Passenger Transportation
 
Term Loan
 
Prime plus 2.75%
 
6/26/2029

 
108.8

 
108.8

 
99.8

 
0.03
%
Lynx Inspection Technologies LLC (#)
 
Support Activities for Mining
 
Term Loan
 
Prime plus 2.75%
 
6/26/2044

 
577.1

 
577.1

 
634.4

 
0.22
%
All-City Towing LLC, Jeffrey James Piller (#)
 
Support Activities for Transportation
 
Term Loan
 
Prime plus 2.75%
 
6/26/2029

 
404.8

 
404.8

 
389.4

 
0.13
%
Kaz Ramen, L.L.C. (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
6/26/2029

 
22.5

 
22.5

 
20.1

 
0.01
%
Tekoa Enterpises, Inc (#)
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
6/26/2029

 
53.3

 
53.3

 
49.6

 
0.02
%
Soft Touch Tissue & Paper LLC (#)
 
Paper Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
6/26/2044

 
233.8

 
233.8

 
257.0

 
0.09
%
Selective Automotive & Accessories Group, Inc (#)
 
Motor Vehicle and Parts Dealers
 
Term Loan
 
Prime plus 2.75%
 
6/26/2029

 
250.0

 
250.0

 
234.7

 
0.08
%
Perfect Water LLC (#)
 
Nonstore Retailers
 
Term Loan
 
Prime plus 2.75%
 
6/26/2029

 
72.5

 
72.5

 
68.7

 
0.02
%
Soft Touch Tissue & Paper LLC (#)
 
Paper Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
6/26/2029

 
33.3

 
33.3

 
34.6

 
0.01
%
RWBB Enterprises, LLC (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
6/26/2044

 
76.0

 
76.0

 
80.9

 
0.03
%
Paradise Towing & Recovery Inc (#)
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
6/25/2029

 
106.5

 
106.5

 
103.2

 
0.04
%
Vanchoc Transport Inc (#)
 
Rental and Leasing Services
 
Term Loan
 
Prime plus 2.75%
 
6/25/2029

 
43.5

 
43.5

 
41.1

 
0.01
%
Paradise Towing & Recovery Inc (#)
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
6/25/2044

 
73.5

 
73.5

 
80.8

 
0.03
%
567 Logistics, LLC (#)
 
Support Activities for Transportation
 
Term Loan
 
Prime plus 2.75%
 
6/25/2029

 
50.0

 
50.0

 
46.0

 
0.02
%
Professional Tire Limited Liability Company (#)
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
6/25/2044

 
139.5

 
139.5

 
144.6

 
0.05
%
Spartan Technology Solutions, Inc (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
6/25/2044

 
488.5

 
488.5

 
499.4

 
0.17
%
Worldwide Capital Management Inc. (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
6/25/2029

 
145.0

 
145.0

 
128.9

 
0.04
%
Sweets By Karla LLC (#)
 
Food Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
6/24/2029

 
12.8

 
12.8

 
11.4

 
%
Krsto, LLC dba Italian Butter Breadsticks (#)
 
Food Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
6/24/2044

 
190.8

 
190.8

 
201.4

 
0.07
%
Scissor Kids Inc (#)
 
Personal and Laundry Services
 
Term Loan
 
Prime plus 2.75%
 
6/24/2029

 
16.2

 
16.2

 
14.6

 
%
Port Diesel L.L.C. (#)
 
Repair and Maintenance
 
Term Loan
 
Prime plus 6.5%
 
6/21/2029

 
12.5

 
12.5

 
12.9

 
%
Elite Excavating Services LLC (#)
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
6/21/2029

 
19.4

 
19.4

 
18.3

 
0.01
%
William Rose Inc (#)
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
6/21/2044

 
87.5

 
87.5

 
83.3

 
0.03
%
Penninsula Self Defense LLC (#)
 
Educational Services
 
Term Loan
 
Prime plus 2.75%
 
6/21/2029

 
5.3

 
5.3

 
4.8

 
%
LuLuBelle's Mountain Banana Bread LLC (#)
 
Food Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
12/21/2044

 
72.4

 
72.4

 
79.4

 
0.03
%
Gribben & Associates, Inc (#)
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
6/21/2029

 
721.5

 
721.5

 
641.3

 
0.22
%
Campuscuts LLC (#)
 
Personal and Laundry Services
 
Term Loan
 
Prime plus 6.5%
 
6/21/2029

 
7.5

 
7.5

 
7.7

 
%
Small Batch Creations Inc. dba The Office Bar & Grill (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
6/21/2029

 
59.8

 
59.8

 
53.6

 
0.02
%
AA Horseplay, LLC (#)
 
Animal Production and Aquaculture
 
Term Loan
 
Prime plus 6.5%
 
6/20/2029

 
12.5

 
12.5

 
12.9

 
%
Central Texas Hygiene, LLC (#)
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
6/20/2029

 
88.0

 
88.0

 
78.5

 
0.03
%
International Institute for Learning Inc. (#)
 
Educational Services
 
Term Loan
 
Prime plus 2.75%
 
6/19/2029

 
300.0

 
300.0

 
266.7

 
0.09
%

7
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2019 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
Providence Management Environmental, LLC, Tindol Energy Group, LLC (#)
 
Waste Management and Remediation Services
 
Term Loan
 
Prime plus 2.75%
 
6/19/2029

 
267.8

 
267.8

 
269.4

 
0.09
%
Bader Furniture Company Inc. (#)
 
Furniture and Home Furnishings Stores
 
Term Loan
 
Prime plus 2.75%
 
6/19/2029

 
7.5

 
7.5

 
7.8

 
%
Zion Motors Inc (#)
 
Motor Vehicle and Parts Dealers
 
Term Loan
 
Prime plus 2.75%
 
6/19/2044

 
60.8

 
60.8

 
62.8

 
0.02
%
Beck's Pub & Grill LLC (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
6/19/2044

 
70.0

 
70.0

 
74.5

 
0.03
%
Bonadi Inc. dba Polished Salon (#)
 
Personal and Laundry Services
 
Term Loan
 
Prime plus 6.5%
 
6/17/2029

 
12.5

 
12.5

 
12.9

 
%
JLM Consulting LP (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
6/17/2029

 
19.8

 
19.8

 
17.6

 
0.01
%
American Demolition, Inc (#)
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
6/17/2029

 
187.5

 
187.5

 
195.0

 
0.07
%
3 Rusty Nails, LLC dba The Gathering Place at 3 Rusty Nails (#)
 
Furniture and Home Furnishings Stores
 
Term Loan
 
Prime plus 2.75%
 
6/14/2044

 
87.5

 
87.5

 
93.5

 
0.03
%
Comarco Quality Pork Products Inc, Comarco Pork Products of FL LLC (#)
 
Food Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
6/14/2029

 
310.3

 
310.3

 
292.4

 
0.10
%
A&S Services LLC dba Kona Ice of Troy (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
6/14/2044

 
45.0

 
45.0

 
47.8

 
0.02
%
Kego 2 LLC dba Jon Smith Subs 80025 (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
11/14/2029

 
55.0

 
55.0

 
51.4

 
0.02
%
Law Office of Paula Padilla (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 6.5%
 
6/13/2029

 
5.0

 
5.0

 
5.1

 
%
Picon Motors LLC dba The New Young's Motors (#)
 
Motor Vehicle and Parts Dealers
 
Term Loan
 
Prime plus 2.75%
 
6/12/2029

 
225.0

 
225.0

 
225.0

 
0.08
%
Ivesters Transportation, Inc (#)
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
6/11/2029

 
250.0

 
250.0

 
228.4

 
0.08
%
GT Performance Plus Inc (#)
 
Motor Vehicle and Parts Dealers
 
Term Loan
 
Prime plus 2.75%
 
6/11/2029

 
76.5

 
76.5

 
68.8

 
0.02
%
GT Performance Plus Inc (#)
 
Motor Vehicle and Parts Dealers
 
Term Loan
 
Prime plus 2.75%
 
6/11/2044

 
99.2

 
99.2

 
105.5

 
0.04
%
Smith and Son Plumbing, LLC (#)
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
6/10/2029

 
82.5

 
82.5

 
76.0

 
0.03
%
Independent Transport, LLC dba Independent Water (#)
 
Nonstore Retailers
 
Term Loan
 
Prime plus 2.75%
 
6/10/2029

 
204.3

 
204.3

 
194.4

 
0.07
%
Archer Cleaners Inc (#)
 
Personal and Laundry Services
 
Term Loan
 
Prime plus 6.5%
 
6/10/2029

 
12.5

 
12.5

 
12.9

 
%
Neely Motorsports, Inc dba Earl's Store #1;Earl's Performance Plumbing (#)
 
Merchant Wholesalers, Durable Goods
 
Term Loan
 
Prime plus 2.75%
 
6/7/2044

 
241.5

 
241.5

 
254.1

 
0.09
%
J&A Elliott Company (#)
 
Nonstore Retailers
 
Term Loan
 
Prime plus 2.75%
 
6/7/2029

 
10.5

 
10.5

 
10.8

 
%
Central Medical Clinic, PLLC- Clinica Central (#)
 
Ambulatory Health Care Services
 
Term Loan
 
Prime plus 2.75%
 
6/7/2029

 
307.5

 
307.5

 
280.2

 
0.10
%
Throop Family Holding Inc dba Klamath Basin Metals and Supply, dba Rog (#)
 
Merchant Wholesalers, Durable Goods
 
Term Loan
 
Prime plus 2.75%
 
6/7/2029

 
40.0

 
40.0

 
37.3

 
0.01
%
Johnny's Boy LLC (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
6/7/2044

 
101.3

 
101.3

 
105.8

 
0.04
%
Allison K. Chipak dba Still Photography (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 6.5%
 
6/6/2029

 
12.5

 
12.5

 
12.9

 
%
Skin Beauty Bar Inc (#)
 
Personal and Laundry Services
 
Term Loan
 
Prime plus 2.75%
 
6/6/2029

 
5.3

 
5.3

 
4.7

 
%
Pura Water Vending LLC (#)
 
Nonstore Retailers
 
Term Loan
 
Prime plus 2.75%
 
6/5/2029

 
68.0

 
68.0

 
64.7

 
0.02
%
Preferred Manufacturing Services Inc (#)
 
Fabricated Metal Product Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
6/5/2029

 
475.0

 
475.0

 
494.1

 
0.17
%
Jamestown Quick Stop LLC (#)
 
Food and Beverage Stores
 
Term Loan
 
Prime plus 2.75%
 
6/5/2044

 
70.0

 
70.0

 
72.2

 
0.02
%
Italian HeritageTile and Stone Inc (#)
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
6/4/2029

 
87.5

 
87.5

 
78.5

 
0.03
%

8
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2019 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal
 
Cost
 
Fair Value
 
% of Net Assets
Oasis Senior Advisors Franchise Systems, LLC (#)
 
Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)
 
Term Loan
 
Prime plus 2.75%
 
6/4/2029

 
312.5

 
312.5

 
314.7

 
0.11
%
Evoke Growth Advisory LLC (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
6/3/2029

 
7.5

 
7.5

 
6.7

 
%
G.S.A.T. Restoration Inc. dba Paul Davis Restoration & Remodeling of G (#)
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
5/31/2029

 
117.5

 
117.5

 
106.7

 
0.04
%
V & M Transportation LLC (#)
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
5/31/2029

 
13.2

 
13.2

 
11.7

 
%
Dynamic Dental Corporation (#)
 
Merchant Wholesalers, Durable Goods
 
Term Loan
 
Prime plus 2.75%
 
5/31/2029

 
62.5

 
62.5

 
56.0

 
0.02
%
Martin Inventory Management, LLC (#)
 
Merchant Wholesalers, Durable Goods
 
Term Loan
 
Prime plus 2.75%
 
5/31/2029

 
50.0

 
50.0

 
50.8

 
0.02
%
Morey Publishing LLC (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
5/31/2029

 
62.5

 
62.5

 
55.9

 
0.02
%
SSD Designs, LLC (#)
 
Chemical Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
5/30/2044

 
425.0

 
425.0

 
461.4

 
0.16
%
Aspen Welding LLC (#)
 
Fabricated Metal Product Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
5/30/2044

 
409.5

 
409.5

 
430.4

 
0.15
%
Inside & Out Maintenance LLC (#)
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
5/30/2029

 
100.0

 
100.0

 
89.4

 
0.03
%
AGR, Inc (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
5/29/2044

 
786.3

 
786.3

 
849.9

 
0.29
%
Brooklyn Breakfast Shop LLC (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
5/29/2029

 
5.0

 
5.0

 
4.7

 
%
Canela Media Inc (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
5/29/2029

 
118.8

 
118.8

 
109.1

 
0.04
%
PD Financial LLC (#)
 
Credit Intermediation and Related Activities
 
Term Loan
 
Prime plus 2.75%
 
5/28/2044

 
49.0

 
49.0

 
51.6

 
0.02
%
SV Enterprise LLC dba Haagen-Dazs (#)
 
Food Services and Drinking Places
 
Term Loan
 
Prime plus 2.75%
 
8/24/2029

 
35.1

 
35.1

 
31.3

 
0.01
%
2820 US HWY 98 N LLC dba Total Package Car Wash (#)
 
Repair and Maintenance
 
Term Loan
 
Prime plus 2.75%
 
5/23/2029

 
14.3

 
14.3

 
14.8

 
0.01
%
Clowers Trucking By Faith LLC (#)
 
Truck Transportation
 
Term Loan
 
Prime plus 6.5%
 
5/23/2029

 
12.5

 
12.5

 
12.9

 
%
Top Notch Roofing, Inc (#)
 
Specialty Trade Contractors
 
Term Loan
 
Prime plus 2.75%
 
5/23/2029

 
123.0

 
123.0

 
112.1

 
0.04
%
MCM Design LLC (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 6.5%
 
5/23/2029

 
10.0

 
10.0

 
10.3

 
%
McGuckin & Pyle Inc (#)
 
Machinery Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
5/23/2044

 
308.3

 
308.3

 
324.2

 
0.11
%
Bloomquist Communications Inc. dba FastSigns 42501 (#)
 
Miscellaneous Manufacturing
 
Term Loan
 
Prime plus 2.75%
 
5/22/2029

 
15.0

 
15.0

 
13.5

 
%
Veterans Home Remodeling LLC (#)
 
Construction of Buildings
 
Term Loan
 
Prime plus 2.75%
 
5/22/2029

 
12.8

 
12.8

 
13.3

 
%
Gratitude Training, LLC (#)
 
Administrative and Support Services
 
Term Loan
 
Prime plus 2.75%
 
5/22/2029

 
75.0

 
75.0

 
66.8

 
0.02
%
ES&A, INC., A LAW CORPORATION (#)
 
Professional, Scientific, and Technical Services
 
Term Loan
 
Prime plus 2.75%
 
5/22/2029

 
112.5

 
112.5

 
100.8

 
0.03
%
Anchor Up Fitness and Nutrition, LLC (#)
 
Amusement, Gambling, and Recreation Industries
 
Term Loan
 
Prime plus 2.75%
 
5/21/2029

 
20.3

 
20.3

 
19.1

 
0.01
%
FibAire Communications, LLC Dba AireBeam (#)
 
Telecommunications
 
Term Loan
 
Prime plus 2.75%
 
5/17/2029

 
55.5

 
55.5

 
53.2

 
0.02
%
BD Branson Victorian LLC dba Branson Surrey Inn (#)
 
Accommodation
 
Term Loan
 
Prime plus 2.75%
 
5/17/2029

 
255.5

 
255.5

 
265.8

 
0.09
%
Covalent Holding LLC (#)
 
Nonstore Retailers
 
Term Loan
 
Prime plus 2.75%
 
5/17/2029

 
243.0

 
243.0

 
232.4

 
0.08
%
Kappa Investments LLC dba Buddy's Home Furnishings (#)
 
Rental and Leasing Services
 
Term Loan
 
Prime plus 2.75%
 
5/17/2029

 
433.8

 
433.8

 
386.9

 
0.13
%
AMP Trucking Inc (#)
 
Truck Transportation
 
Term Loan
 
Prime plus 2.75%
 
5/16/2029

 
259.3

 
259.3

 
269.7

 
0.09
%

9
See accompanying notes to unaudited condensed consolidated financial statements.




NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2019 (UNAUDITED)
(In Thousands)

Portfolio Company
 
Industry
 
Type of Investment
 
Interest Rate (2)
 
Maturity
 
Principal