Newtek Bank, N.A. Hires Vik Mahajan as Chief Investment Officer

Core Insights - NewtekOne, Inc. has appointed Vaibhav "Vik" Mahajan as Chief Investment Officer of Newtek Bank, N.A. to enhance loan sales execution and source loan purchase opportunities [1][2] - Mr. Mahajan brings 25 years of experience in investment banking and financial services, previously serving as chief strategy officer at iCreditWorks and leading investment banking efforts at Deutsche Bank and Credit Suisse [1][2] - NewtekOne is a financial holding company providing a range of business and financial solutions to independent business owners since 1999 [3][4] Company Strategy - The appointment of Mr. Mahajan aligns with Newtek Bank's strategy to optimize the execution of SBA 504 and government-guaranteed SBA 7(a) loans [2] - Mr. Mahajan's role will be crucial in maximizing outcomes in loan sales and sourcing additional loan opportunities to enhance the bank's portfolio [2] Business Solutions - NewtekOne offers a variety of financial solutions including banking, business lending, SBA lending solutions, electronic payment processing, and technology solutions [4] - The company aims to provide cost-efficient products and services to help independent business owners grow sales, control expenses, and reduce risk [3]