Item 1.01. Entry Into a Material Definitive Agreement.



On January 6, 2021 Newtek Business Services Corp. (the "Company") completed an
exempt offering (the "Offering") of $10 million aggregate principal amount of
its 6.85% notes due 2025 (the "Notes"). The Offering was consummated pursuant to
the terms of a purchase agreement (the "Purchase Agreement") dated November 27,
2020 among the Company and an accredited investor (the "Purchaser"). The initial
exempt offering of $5 million aggregate principal amount of the Notes was
completed on November 27, 2020 pursuant to the Purchase Agreement. On January 6,
2021, pursuant to the terms of the Purchase Agreement, the Company completed the
Offering of $10 million aggregate principal amount of additional Notes by a
placement notice delivered to the Purchaser prior to March 31, 2021. The
Purchase Agreement provides for the Notes to be issued to the Purchaser in a
private placement in reliance on Section 4(a)(2) of the Securities Act of 1933,
as amended (the "Securities Act"). The Company relied upon this exemption from
registration based in part on representations made by the Purchaser. The Notes
have not been registered under the Securities Act and may not be offered or sold
in the United States absent registration or an applicable exemption from
registration. The net proceeds from the sale of the Notes were approximately
$9.7 million, after deducting structuring fees and estimated offering expenses,
each payable by the Company. The Company intends to use the net proceeds from
the sale of the Notes to fund investments in debt and equity in accordance with
its investment objectives and strategies. Under the Purchase Agreement, the
Company may, by mutual agreement of the parties, issue up to $15 million in
aggregate principal amount of additional Notes by placement notice delivered to
the Purchaser after March 31, 2021 and before November 30, 2022.

The Notes were issued under the Indenture dated as of September 23, 2015 (the
"Base Indenture"), between the Company and U.S. Bank, National Association,
trustee (the "Trustee"), as amended by the Fifth Supplemental Indenture, dated
as of November 27, 2020 (the "Fifth Supplemental Indenture") and as further
amended by the Sixth Supplemental Indenture, dated as of January 6, 2021 (the
"Sixth Supplemental Indenture" and together with the Fifth Supplemental
Indenture and the Base Indenture, the "Indenture"). The Notes will mature on
November 30, 2025. The Notes bear interest at a rate of 6.85% per year payable
quarterly on February 28, May 31, August 31 and November 30 each year,
commencing on February 28, 2021. Under the terms of the Indenture, the Notes are
redeemable at any time, at the option of the Company, at a redemption price of
100% of the outstanding principal amount thereof; provided, however, that
Company will pay a fee of (i) 1.00% of the principal amount of any Note redeemed
before the one year anniversary of the issuance of such Note, and (i) 0.50% of
the principal amount of any Note redeemed after the one year anniversary, but
before the three year anniversary, of the issuance of such Note. The holder of
the Notes may waive the 1.00% or 0.05% fee, as applicable, in its sole
discretion.

The Notes will be the Company's direct unsecured obligations and rank pari
passu, or equal, with all outstanding and future unsecured unsubordinated
indebtedness issued by the Company. The Notes will be effectively subordinated
to the Company's existing and future secured indebtedness to the extent of the
value of the assets securing such indebtedness, and structurally subordinated to
all existing and future indebtedness and other obligations of any of the
Company's subsidiaries.

The Indenture contains certain covenants, including covenants requiring the
Company to (i) comply with the asset coverage requirements of the Investment
Company Act of 1940, whether or not it is subject to those requirements, and
(ii) provide financial information to the holders of the Notes and the Trustee
if the Company is no longer subject to the reporting requirements under the
Securities Exchange Act of 1934, as amended. These covenants are subject to
important limitations and exceptions that are described in the Indenture.

A copy of the Base Indenture, Fifth Supplemental Indenture and Sixth
Supplemental Indenture are attached hereto as Exhibits 4.1, 4.2 and 4.3,
respectively and are incorporated herein by reference. The description of the
Notes contained in this Form 8-K is qualified in its entirety by reference to
the foregoing.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information required by Item 2.03 is contained in Item 1.01 of this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

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Exhibit Number                   Description

                                   Base Indenture, dated as of September 23, 2015, by and between the
                                 Company and U.S. Bank National

Association, as trustee (Incorporated by


                                 reference to Exhibit (d)(2) to

Post-Effective Amendment No. 1 to


                                 Registration Statement on Form N-2 (File

No. 333-237974) filed June 25,


                    4.1          2020.
                                   Fifth Supplemental Indenture, dated as

of November 27, 2020, relating


                                 to the 6.85% Notes due 2025, by and

between the Company and U.S. Bank,


                                 National Association, as trustee

(Incorporated by reference to Exhibit


                                 4.2 to Newtek's Current Report on Form

8-K, filed November 27, 2020).


                    4.2
                                   Sixth Supplemental Indenture, dated as

of January 6, 2021, relating


                                 to the 6.85% Notes due 2025, by and

between the Company and U.S. Bank,


                    4.3          National Association, as trustee.

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