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NewtekOne, Inc. - Quarter Report: 2020 June (Form 10-Q)



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, 2020

OR

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

For the transition period from _____to_____
Commission file number: 814-01035
NEWTEK BUSINESS SERVICES CORP.
(Exact name of registrant as specified in its charter)
  
Maryland46-3755188
(State or other jurisdiction of
incorporation or organization)		(I.R.S. Employer
Identification No.)
4800 T Rex Avenue, Suite 120, Boca Raton, Florida33431
(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 classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.02 per shareNEWTNasdaq Global Market LLC
6.25% Notes due 2023NEWTINasdaq Global Market LLC
5.75% Notes due 2024NEWTLNasdaq 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 fileroAccelerated filero
Non-accelerated filerxSmaller reporting companyo
Emerging growth companyo

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial or accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x
As of August 6, 2020, there were 21,183,527 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.
PART II - OTHER INFORMATION
Item 1.
Item 1A.
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
Item 3.
Item 4.
Item 5.
Item 6.

Table of Contents

Defined Terms

We have used “we,” “us,” “our,” “our company,” and “the Company” to refer to Newtek Business Services Corp. and its subsidiaries in this report. We also have used several other terms in this report, which are explained or defined below:
Terms
1940 ActInvestment Company Act of 1940, as amended
2010-1 TrustNewtek Small Business Loan Trust, Series 2010-1, terminated in March 2019
2013-1 TrustNewtek Small Business Loan Trust, Series 2013-1, terminated in October 2018
2014-1 TrustNewtek Small Business Loan Trust, Series 2014-1, terminated in July 2019
2016-1 TrustNewtek Small Business Loan Trust, Series 2016-1
2017-1 TrustNewtek Small Business Loan Trust, Series 2017-1
2018-1 TrustNewtek Small Business Loan Trust, Series 2018-1
2019-1 TrustNewtek Small Business Loan Trust, Series 2019-1
2021 Notes7.00% Notes due 2021, redeemed in March 2018
2022 Notes7.50% Notes due 2022, redeemed in August 2019
2023 Notes6.25% Notes due 2023
2024 Notes5.75% Notes due 2024
Amended 2019 ATM Distribution AgreementFirst Amendment and Supplement to the Equity Distribution Agreement, dated as of February 28, 2020, by and among the Company and the placement agents
ASCAccounting Standards Codification, as issued by the FASB
ASUAccounting Standards Updates, as issued by the FASB
2017 ATM Equity Distribution AgreementSecond Amended and Restated Equity Distribution Agreement, dated August 31, 2018 by and among the Company and the placement agents
2019 ATM Equity Distribution AgreementEquity Distribution Agreement, dated July 10, 2019 by and among the Company and the placement agents
2020 ATM Equity Distribution AgreementEquity Distribution Agreement, dated June 25, 2020 by and among the Company and the placement agents
BDCBusiness Development Company under the 1940 Act
BoardThe Company's board of directors
Capital OneCapital One Bank, National Association
CodeInternal Revenue Code of 1986, as amended
DRIPThe Company's dividend reinvestment plan
EBITDAEarnings before interest, taxes, depreciation and amortization
Equity Incentive PlanThe Company's 2015 Equity Incentive Plan
Exchange ActSecurities and Exchange Act of 1934, as amended
FASBFinancial Accounting Standards Board
LIBORLondon Interbank Offered Rate
NAVNet Asset Value
NBL FacilityRevolving Credit and Security Agreement between NBL SPV1, LLC, a wholly-owned subsidiary of NBL and Capital One
Related Party RLOCUnsecured revolving line of credit agreement between NMS as lender and Newtek as borrower
PLPPreferred Lender Program, as authorized by the SBA
PPPPaycheck Protection Program
RICRegulated investment company under the Code
S&PStandard and Poor's
SBAUnited States Small Business Administration
SBLCSmall Business Lending Company


SECSecurities and Exchange Commission
SMBSmall-and-medium sized businesses
SterlingSterling National Bank
Sterling Receivable and Inventory FacilityLoan and Security Agreement between NBC and Sterling, as lender to fund accounts receivable and inventory financing arrangements
Taxable SubsidiariesCompanies formed by Newtek which are taxed as corporations for income tax purposes
TrusteeU.S. Bank, National Association
U.S. GAAP or GAAPGenerally accepted accounting principles in the United States
Portfolio Companies and Subsidiaries
NSBFNewtek Small Business Finance, LLC, a consolidated subsidiary
NBLNewtek Business Lending, LLC, a wholly-owned controlled portfolio company
NCLNewtek Conventional Lending, LLC, a 50% owned portfolio company
ExponentialExponential Business Development Co., Inc., a Taxable Subsidiary
NMSNewtek Merchant Solutions, LLC (formerly Universal Processing Services of Wisconsin LLC), a wholly-owned controlled portfolio company
PremierPremier Payments LLC, a former wholly-owned controlled portfolio company which merged into NMS at December 31, 2018
Mobil MoneyMobil Money, LLC, a wholly-owned controlled portfolio company
NTSNewtek Technology Solutions, Inc., a wholly-owned controlled portfolio company
IPMInternational Professional Marketing, Inc., a wholly-owned controlled portfolio company
SIDCOSIDCO, LLC dba Cloud Nine Services, a wholly-owned controlled portfolio company
EWSExcel WebSolutions, LLC, a wholly-owned controlled portfolio company
NBCCDS Business Services, Inc. dba Newtek Business Credit Solutions, a wholly-owned controlled portfolio company
SBLSmall Business Lending, LLC, a wholly-owned controlled portfolio company
BSPADR Partners, LLC dba banc-serv Partners, LLC, a wholly-owned controlled portfolio company
NPS or PMTPMTWorks Payroll, LLC dba Newtek Payroll and Benefits Solutions, a wholly-owned controlled portfolio company
NIANewtek Insurance Agency, LLC, a wholly-owned controlled portfolio company
TAMTitanium Asset Management LLC, a wholly-owned controlled portfolio company
EMCAPEMCAP Loan Holdings, LLC
POSPOS on Cloud, LLC, a controlled portfolio company



NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(In Thousands, except for Per Share Data)
June 30, 2020December 31, 2019
ASSETS(Unaudited)(Note 1)
Investments, at fair value
SBA unguaranteed non-affiliate investments (cost of $423,554 and $429,697, respectively; includes $341,707 and $364,063, respectively, related to securitization trusts)$404,937  $417,223  
SBA guaranteed non-affiliate investments (cost of $19,881 and $23,345, respectively)21,151  25,004  
Controlled investments (cost of $123,705 and $107,300, respectively)221,351  215,817  
Non-control/affiliate investments (cost of $1,000 and $1,000, respectively)1,000  1,000  
Total investments at fair value648,439  659,044  
Cash13,385  1,762  
Restricted cash40,213  31,445  
Broker receivable—  51,173  
Due from related parties5,274  2,972  
Servicing assets, at fair value25,511  24,411  
Right of use assets7,454  7,990  
Other assets25,781  18,614  
Total assets$766,057  $797,411  
LIABILITIES AND NET ASSETS
Liabilities:
Bank notes payable$23,640  $30,000  
Notes due 2023 (par: $57,500 as of June 30, 2020 and December 31, 2019, Note 7)56,269  56,035  
Notes due 2024 (par: $63,250 as of June 30, 2020 and December 31, 2019, Note 7)61,563  61,354  
Notes payable - Securitization trusts (par: $246,931 and $276,637 as of June 30, 2020 and December 31, 2019, Note 7)243,126  272,376  
Dividends payable11,685  —  
Notes payable - related parties—  12,163  
Due to related parties804  131  
Lease liabilities9,296  9,897  
Deferred tax liabilities9,465  12,405  
Accounts payable, accrued expenses and other liabilities22,763  20,824  
Total liabilities438,611  475,185  
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, 20,905 and 20,530 issued and outstanding, respectively)418  411  
Additional paid-in capital297,836  289,963  
Accumulated undistributed earnings29,192  31,852  
Total net assets327,446  322,226  
Total liabilities and net assets$766,057  $797,411  
Net asset value per common share$15.66  $15.70  
1
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In Thousands, except for Per Share Data)
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Investment income
From non-affiliate investments:
Interest income - PPP loans$34,657  $—  $34,657  $—  
Interest income - SBA 7(a) loans6,189  7,034  13,511  14,051  
Servicing income2,777  2,503  5,492  4,931  
Other income303  1,566  1,209  2,487  
Total investment income from non-affiliate investments43,926  11,103  54,869  21,469  
From non-control/affiliate investments:
Dividend income20  28  40  59  
From controlled investments:
Interest income480  218  937  435  
Dividend income2,268  2,800  6,650  5,950  
Total investment income from controlled investments2,748  3,018  7,587  6,385  
Total investment income46,694  14,149  62,496  27,913  
Expenses:
Salaries and benefits3,740  3,484  7,187  7,072  
Interest4,604  4,712  9,788  9,447  
Depreciation and amortization104  124  219  253  
Professional fees1,207  643  2,171  1,627  
Origination and loan processing2,722  2,128  4,546  3,781  
Origination and loan processing - related party3,095  2,471  5,733  4,659  
Change in fair value of contingent consideration liabilities—  9  54  55  
Other general and administrative costs1,475  1,657  3,333  3,084  
Total expenses16,947  15,228  33,031  29,978  
Net investment income (loss)29,747  (1,079) 29,465  (2,065) 
Net realized and unrealized gains (losses):
Net realized gain (loss) on non-affiliate investments - SBA 7(a) loans(1,214) 12,051  3,299  21,395  
Net unrealized depreciation on SBA guaranteed non-affiliate investments(200) (382) (383) (312) 
Net unrealized depreciation on SBA unguaranteed non-affiliate investments(1,633) (4,572) (6,144) (1,943) 
Net unrealized (depreciation) appreciation on controlled investments(82) 4,865  (10,871) 2,918  
Change in deferred taxes29  (1,294) 2,940  (765) 
Net unrealized depreciation on servicing assets(1,180) (911) (92) (1,467) 
Net realized and unrealized gains (losses)$(4,280) $9,757  $(11,251) $19,826  
Net increase in net assets resulting from operations$25,467  $8,678  $18,214  $17,761  
Net increase in net assets resulting from operations per share$1.22  $0.45  $0.88  $0.93  
Net investment income (loss) per share$1.42  $(0.06) $1.42  $(0.11) 
Dividends and distributions declared per common share$0.56  $0.46  $1.00  $0.86  
Weighted average number of shares outstanding20,893  19,113  20,815  19,058  
2
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)
(In Thousands)
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Increase in net assets:
Net investment income (loss)$29,747  $(1,079) $29,465  $(2,065) 
Net realized gain (loss) on investments(1,214) 12,051  3,299  21,395  
Net unrealized depreciation on investments(3,066) (2,294) (14,550) (1,569) 
Net increase in net assets resulting from operations25,467  8,678  18,214  17,761  
Distributions to common stockholders(11,684) (8,741) (20,790) (16,315) 
Capital share transactions:
Issuance of common stock under dividend reinvestment plan—  261  224  479  
Stock-based compensation expense139  118  310  278  
Purchase of vested stock for employee payroll tax withholding(48) (76) (48) (76) 
Issuance of common stock, net of offering costs1,107  1,106  7,310  3,650  
Net increase in net assets from capital share transactions1,198  1,409  7,796  4,331  
Impact of ASC 842 adoption—  —  —  130  
Total (decrease) increase in net assets14,981  1,346  5,220  5,907  
Net assets at beginning of period312,465  292,006  322,226  287,445  
Net assets at end of period$327,446  $293,352  $327,446  $293,352  
Common shares outstanding at end of period20,905  19,137  20,905  19,137  
Capital share activity:
Shares issued under dividend reinvestment plan—  12  18  24  
Shares issued in connection with sales of common stock70  53  360  188  
Purchase of vested stock for employee payroll tax withholding(3) (4) (3) (4) 
Restricted shares issued under Equity Incentive Plan, net of forfeitures—  2  —  10  
Net increase in capital activity67  63  375  218  
3
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In Thousands)
Six Months Ended June 30,
20202019
Cash flows from operating activities:
Net (decrease) increase in net assets resulting from operations$18,214  $17,761  
Adjustments to reconcile net (decrease) increase in net assets resulting from operations to net cash used in operating activities:
Net unrealized depreciation (appreciation) on controlled investments10,871  (2,918) 
Net unrealized depreciation (appreciation) on non-affiliate investments6,527  2,255  
Net unrealized (appreciation) depreciation on servicing assets92  1,467  
Net realized gains on non-affiliate investments(3,298) (21,395) 
Allowance for doubtful accounts—  (60) 
Change in fair value of contingent consideration liabilities54  55  
Amortization of deferred financing costs969  902  
Deferred income taxes(2,940) 765  
Depreciation and amortization218  253  
Purchase of loans(5,522) —  
Funding of guaranteed non-affiliate SBA loans(1,163,301) (163,933) 
Funding of unguaranteed non-affiliate SBA loans(17,379) (56,447) 
Funding of controlled investments(17,580) (6,198) 
Proceeds from sale of non-affiliate SBA loans1,167,376  192,830  
Principal received on SBA non-affiliate investments31,374  20,930  
Principal received from controlled investments475  1,485  
Return of investment from controlled investments700  500  
Other, net(36) 46  
Changes in operating assets and liabilities:
Broker receivable51,173  (5,916) 
Due to/from related parties(1,629) (272) 
Other assets(6,109) (581) 
Accounts payable, accrued expenses and other liabilities1,820  (4,838) 
Capitalized servicing asset(1,192) (3,506) 
Other, net(43) 103  
Net cash provided by (used in) operating activities70,834  (26,712) 
Cash flows from investing activities:
Purchase of fixed assets(10) (111) 
Cash flows from financing activities:
Net borrowings on bank notes payable(6,360) 59,909  
Proceeds from common shares sold, net of offering costs7,310  3,650  
Net (repayments) proceeds under related party line of credit(12,163) 7,223  
Payments on Notes Payable - Securitization Trusts(29,706) (29,661) 
Dividends paid(8,882) (15,836) 
Additions to deferred financing costs(584) (55) 
Purchase of vested stock for employee payroll tax withholding(48) (77) 
Net cash provided by (used in) financing activities(50,433) 25,152  
Net increase (decrease) in cash and restricted cash20,391  (1,671) 
4
See accompanying notes to consolidated financial statements.

NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In Thousands)
Six Months Ended June 30,
20202019
Cash and restricted cash—beginning of period (Note 2)33,207  31,350  
Cash and restricted cash—end of period (Note 2)$53,598  $29,679  
Non-cash operating, investing and financing activities:
Foreclosed real estate acquired$358  $489  
Dividends declared but not paid during the period$11,685  $—  
Issuance of common shares under dividend reinvestment plan$224  $479  
          


5
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Heriz Gallery Inc dba Pineville Rug Gallery(#)312 Main St., Pineville, NC 28134Textile Product MillsTerm LoanPrime plus 2.75%4/6/2045$99.9  $99.9  $107.1  0.03 %
Alliance Heating & Air Conditioning, Inc.(#)570 W Olive Ave,, Merced, CA 95348Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/6/2030754.5  754.5  607.2  0.19 %
Terry and Tammy Jacobsen, Inc dba Appliance Recycling(#)112 Forrest Rd, Morgan City, LA 70380Electronics and Appliance StoresTerm LoanPrime plus 2.75%4/3/2030338.1  338.1  270.5  0.08 %
Terry & Tammy Jacobsen, Inc.dba Appliance Recycling Outlet(#)1714 E Oakton St, Des Plaines, IL 60018Electronics and Appliance StoresTerm LoanPrime plus 2.75%4/3/2045849.0  849.0  866.9  0.26 %
Profit Stewards, LLC(#)6470 State St., Saginaw, MI 48603Repair and MaintenanceTerm LoanPrime plus 2.75%4/2/203043.5  43.5  36.0  0.01 %
AOC Key Solutions, Inc(#)575 Harkrider St., Conway, AR 72032Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/2/2030805.4  805.4  723.5  0.22 %
Caplan Home Care, LLC(#)56 New County Rd, Rockland, ME 04841Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/1/2045880.2  880.2  914.7  0.28 %
Montana Custom Log Homes, Inc.(#)2741 West 76th St., Hialeah, FL 33016Wood Product ManufacturingTerm LoanPrime plus 2.75%3/31/2045365.2  365.2  402.5  0.12 %
JS Randhawa, Inc. dba Deli Delicious 34, SK Randhawa Inc. HSR Inc & R(#)831 Richie Highway, Severna Park, MD 21146Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/31/203098.8  98.8  86.4  0.03 %
Blackwater Diving LLC(#)18121 Tuckerton Rd, Ste 130, Cypress, TX 77433Support Activities for MiningTerm LoanPrime plus 2.75%3/30/2030370.4  370.4  317.7  0.10 %
Suburban Transmission of Northern Illinois, Inc.(#)4810 Vicksburg St., Dallas, TX 75207Repair and MaintenanceTerm LoanPrime plus 2.75%3/27/2045149.6  149.6  165.7  0.05 %
Tomco Inc. dba Rental City dba Tomco Equiptment Sales(#)2511 S Jefferson Ave, St. Louis, MO 63104Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/27/203022.2  22.2  17.7  0.01 %
Dunaway and Hart, Inc(#)668 Elm St., Tionesta, PA 16353Real EstateTerm LoanPrime plus 2.75%3/26/203049.4  49.4  39.4  0.01 %
Yachting Solutions, LLC(#)192 E Main St, Mansfield, OH 44904Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/24/2030180.3  180.3  165.5  0.05 %
Supermarket Source, Inc(#)8900 Strength Ave, New Port Richie, FL 34655Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/24/2030209.9  209.9  217.5  0.07 %
Kris-Leigh Catered Living at Severna Park,LLC(#)5701 Brittmoore Rd, Houston, TX 77041Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%3/20/2030523.5  523.5  542.5  0.17 %
Patoruzu Inc dba Sharkey's Cuts for Kids(#)73 Taylor Rd, Warton, NJ 07885Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/20/203013.5  13.5  10.8  — %
Firefly Developement LLC dba Firefly Earthworks(#)4225 W Capitol Ave, West Sacramento, CA 95691Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/19/2045299.6  299.6  301.2  0.09 %
Mid Ohio Hospitality, LLC dba Bucks Bar and Grill(#)630 S 1st St, San Jose, CA 95113Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/17/2045228.6  228.6  256.9  0.08 %
Forest Scientific Corporation(#)15130 SE 82nd Dr, Clackamas, OR 97015Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/17/203074.1  74.1  76.8  0.02 %
Coffeestamp LLC(#)1430 Towne Lake Pkwy, Woodstock, GA 30189Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/17/20304.4  4.4  4.0  — %
Kanga Lean, Inc. dba F45 Training Trinity(#)20 & 68 Westfield Rd, Nicholls, GA 31554Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/16/203058.8  58.8  49.7  0.02 %
6
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Integrated Equipment Inc; Intergrated Elastomers Inc(#)5772 Miami Lakes Drive, Miami Lakes, FL 33014Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/13/20451,246.3  1,246.3  1,400.9  0.43 %
Stretch of NW Georgia, LLC dba Stretch Zone(#)10010 North Hampton Cove Lane, Indianapolis, IN 46236Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/13/203014.5  14.5  11.6  — %
Signet Media dba Signet Media inc.(#)1740 September Ave, Memphis, TN 38116Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/13/2030339.5  339.5  351.5  0.11 %
Astoria-Pacific Inc(#)3100 NW 72nd Ave, Miami, FL 33122Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%3/13/2030123.5  123.5  127.9  0.04 %
Mark Allen Taylor dba Taylor Auction(#)1390 Broadway Ste C, Placerville, CA 95667Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/13/2030137.3  137.3  117.9  0.04 %
Rapid Trucking and(#)2342 NY- 37, Port Covington, NY 12937Truck TransportationTerm LoanPrime plus 2.75%3/13/2045760.2  760.2  854.5  0.26 %
Native Fields Landscaping LLC and My Two Girls LLC(#)1065 Tower Hill Rd, North Kingstown, RI 2852Administrative and Support ServicesTerm LoanPrime plus 2.75%11/13/2045387.6  387.6  416.0  0.13 %
GQ Investments LLC(#)512 E 11th St, Houston, TX 77008Electrical Equipment, Appliance, and Component ManufacturingTerm LoanPrime plus 2.75%3/12/2030148.2  148.2  118.3  0.04 %
C3 Capital, Inc(#)65 Boston Post Rd W Ste 390, Marlborough, MA 01752Nonstore RetailersTerm LoanPrime plus 2.75%3/11/2030559.3  559.3  543.2  0.17 %
Quarles Service Systems, Inc.(#)974 Commercial St, Palo Alto, CA 94303Administrative and Support ServicesTerm LoanPrime plus 2.75%3/10/204595.9  95.9  100.3  0.03 %
Blue Dot Trading Inc(#)10624 South Eastern Ave Stes R & S, Hendersen, NV 89502Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/10/203055.6  55.6  44.4  0.01 %
The Ugly Mug's Coffee and Tea Inc.(#)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/9/203037.7  37.7  30.1  0.01 %
Peter & Suzanne Scott, Inc., Phillip Showen & Bryan Phelan(#)1544 Lane Park Cut off, Tavares, FL 32778Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/6/2030138.3  138.3  133.1  0.04 %
KR Enterprises, Inc. dba Carriage Inn(#)1 Market Pl #10, Essex Junction, VA 5452AccommodationTerm LoanPrime plus 2.75%3/6/2045319.0  319.0  329.7  0.10 %
Advans IT Services, Inc.(#)1622-1624 N. Mannheim Rd, Stone Park, IL 60165Other Information ServicesTerm LoanPrime plus 2.75%3/6/2030123.5  123.5  98.6  0.03 %
Outcome Driven Innovation dba Spracht; Celltek, ODI, ODI Security(#)110 2nd Ave South, Pacheco, CA 94553Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/6/2030382.7  382.7  305.6  0.09 %
Big Brand Management LTD. CO. dba Ivox Media(#)15735 Spectrum Drive, Addison, TX 75001Real EstateTerm LoanPrime plus 2.75%3/6/203065.4  65.4  60.3  0.02 %
Minifox Inc. dba Pho Hoa and Jazen Tea(#)6938 Westover St., Houston, TX 77087Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/5/203074.1  74.1  60.3  0.02 %
Jones Roger Sherman Inn, Inc. dba Jones Roger Sherman Inn(#)13600 Mustang Drive, Mead, CO 80542Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/4/203028.8  28.8  29.8  0.01 %
Chet Lemon Enterprises, Inc. dba All American Sports(#)1643 NW Dove Ct, Stuart, FL 34994Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/3/2030106.7  106.7  111.0  0.03 %
7
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
14th State Learning, LLC dba Sylvan Learning, LLC(#)2401 Wrightsville Ave, Wilmington, NC 28403Educational ServicesTerm LoanPrime plus 2.75%3/2/203050.9  50.9  41.1  0.01 %
Toju Bay Inc. dba Fiesta Americana Restaurand and Club(#)8809 N Grove Ave, Rancho Cucamonga, CA 91730Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2045454.3  454.3  494.6  0.15 %
Custom Garages(#)4001 S Wayne Rd, Wayne, MI 48154Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/2030136.2  136.2  114.4  0.03 %
LCSM Logistics Inc(#)1921 Las Plumas Ave Ste B, San Jose, CA 95133Couriers and MessengersTerm LoanPrime plus 2.75%2/28/203083.6  83.6  66.7  0.02 %
Breakers Electric, LLC dba Merrill Sports(#)197 Ewell Rd, Williamsburg, VA 23188Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/27/203010.3  10.3  8.2  — %
GRSC, Inc.(#)20502 Forestview, Magnolia, TX 77355Construction of BuildingsTerm LoanPrime plus 2.75%2/27/203022.1  22.1  19.2  0.01 %
Crux Solutions LLC dba Waddell's Riverside Funeral Directors(#)7215 Waelti Drive, Melbourne, FL 32940Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/27/204580.7  80.7  85.7  0.03 %
Feras Alshadaida dba Allura Dairy(#)55 Northern Blvd, Ste 103, Great Neck, NY 11021Food and Beverage StoresTerm LoanPrime plus 2.75%2/26/203059.4  59.4  49.8  0.02 %
M & L ENTERPRIZES, LLC(#)10265 Normandy Blvd, Jacksonville, FL 32221Food and Beverage StoresTerm LoanPrime plus 2.75%2/26/203049.1  49.1  50.9  0.02 %
Abe Chahrour Investment, LLC(#)285 W Central Pkwy, Altamonte Springs, FL 32714Administrative and Support ServicesTerm LoanPrime plus 2.75%2/25/204522.1  22.1  24.8  0.01 %
Bora Enterprises, LLC(#)4313 Collingtree Drive, Rockledge, FL 32955Truck TransportationTerm LoanPrime plus 2.75%2/21/203012.5  12.5  10.0  — %
Skimino Enterprises LLC(#)3453 North Panam Expressway, San Antonio, TX 78219Support Activities for TransportationTerm LoanPrime plus 2.75%2/21/203073.6  73.6  58.8  0.02 %
Sherwood Sporthorses Inc.(#)116 North Austin St., Oak Grove, MO 64075Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/21/2045137.8  137.8  154.9  0.05 %
Bell Oak LLC dba Bell Oak Academy & Paradise Strategics LLC(#)45240 Business Court, Sterling, VA 20166Social AssistanceTerm LoanPrime plus 2.75%2/21/2045375.9  375.9  375.3  0.11 %
Alex Roit Chiropractic, P. C(#)54-58 Glocker Way, Pottstown, PA 19465Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/19/203019.6  19.6  15.6  — %
Little Feet Academy of Jacksonville, LLC(#)333 Birch Hills Dr, Rochester, NY 14622Social AssistanceTerm LoanPrime plus 2.75%2/17/204547.1  47.1  48.0  0.01 %
Romo Medical Equiptment LLC(#)462-482 Chattahoochee St., Cornelia, GA 30531Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%2/14/2030490.9  490.9  391.9  0.12 %
E Center Marketing LLC(#)1300 Ridenour Blvd, Kennesaw, GA 30152Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/14/203022.1  22.1  17.7  0.01 %
All Modes Transportation & Logistics LLC(#)9980 Dell Rd, Eden Prairie, MN 55347Support Activities for TransportationTerm LoanPrime plus 6.5%2/14/203012.3  12.3  11.6  — %
Red Rock Government Serviice, LLC(#)12408 Kingsview St., Bowie, MD 20721Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/13/2030168.1  168.1  151.2  0.05 %
8
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Lesher Transportation and Shipping, LLC(#)321 White Dogwood Lane, Ocoee, FL 34761Truck TransportationTerm LoanPrime plus 2.75%2/13/203014.0  14.0  13.0  — %
Shaw, Ltd dba Fitness 1440 North Coventry(#)6967 Hancock Drive, Port St Lucie, FL 34952Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/13/203059.6  59.6  50.7  0.02 %
Damiano Global Corp.(#)6110 W Capitol Drive, Milwaukee, WI 53216Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/10/203049.1  49.1  39.2  0.01 %
Fortson Janitorial Inc(#)2001 S County Rd 400 W, Greencastle, IN 46135Nonstore RetailersTerm LoanPrime plus 2.75%2/5/2045107.0  107.0  120.3  0.04 %
2'N1 Home and lawn LLC dba N1 Home an Lawn LLC(#)8 Campus Drive. Ste 105, Parsippany, NJ 07054Administrative and Support ServicesTerm LoanPrime plus 6.5%2/3/203012.3  12.3  11.6  — %
A1 Radon Services, LLC(#)1547 Main St., Dunedin, FL 34698Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%1/31/203087.6  87.6  69.9  0.02 %
Thisaflycloset, LC(#)65 Lindsey Lane, Havana, FL 32333Clothing and Clothing Accessories StoresTerm LoanPrime plus 6.5%1/30/203012.3  12.3  11.6  — %
Adorable Home Heath Care LLC(#)1433 Chestnut St., Macon, GA 31201Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/30/203041.0  41.0  32.7  0.01 %
3 Fat Labs Inc. and Energy Conservation Solution Inc.(#)115 Pomona Drive, Greensboro, NC 27402Rental and Leasing ServicesTerm LoanPrime plus 2.75%1/30/2045279.7  279.7  288.2  0.09 %
AA WST LLC(#)115 Pomona Drive, Greensboro, NC 27407Nonstore RetailersTerm LoanPrime plus 2.75%1/30/203021.7  21.7  19.4  0.01 %
Daftarnow Inc dba Venture X Parsippany(#)15822 Caminito Cantaras, Del Mar, CA 92014Real EstateTerm LoanPrime plus 2.75%7/30/203084.0  84.0  67.3  0.02 %
Spinnaker PSL Inc., Spinnaker Subs- N-Shine& Spinnaker Vero Inc(#)3602 Rock Bay Drive, Louisville, KY 40245Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%1/30/2045314.8  314.8  317.4  0.10 %
Codame Enterprises LLC dba Firehouse Subs(#)16362 Cherokee Rd, Brooksville, FL 34601Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/29/2030103.2  103.2  82.4  0.03 %
Havana Knights LLC(#)357 Dayton Valley Rd, Dayton, NV 89403Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/27/203038.6  38.6  33.8  0.01 %
Amina Financial Solutions LLC dba Expat Tax Solutions(#)9200 SE 91st Ave STE 340, Happy Valley, OR 97086Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/24/203020.5  20.5  16.4  0.01 %
Affinity Integrated Solutions Inc.(#)908 4th Ave, Decatur, AL 35601Administrative and Support ServicesTerm LoanPrime plus 2.75%1/23/2045298.4  298.4  307.1  0.09 %
Affinity Integrated Solutions Inc(#)18801 North Thompson Peak Pkwy, Ste 240, Scottsdale, AZ 85255Administrative and Support ServicesTerm LoanPrime plus 2.75%1/23/2030219.6  219.6  175.3  0.05 %
Align Sports Management, LLC(#)2140 E Southlake Blvd L-503, Southlake, TX 76092Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%1/22/203022.0  22.0  17.7  0.01 %
Emmalina LLC(#)1 Cragwood Rd, Ste 101, South Plainfield, NJ 07080Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/21/20306.7  6.7  6.1  — %
Motorsport Imagery, Inc(#)421 South Oak St, Pecos, TX 79772Apparel ManufacturingTerm LoanPrime plus 2.75%1/17/203022.0  22.0  19.0  0.01 %
Lyon Cubs LLC dba Dayton Valley Learning Center(#)101 Park St, Canton, NC 28716Social AssistanceTerm LoanPrime plus 2.75%1/16/2045166.9  166.9  172.4  0.05 %
9
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
VetMed LLC(#)3 Flanders Rd, Bethlehem, CT 06751Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/10/203085.4  85.4  68.2  0.02 %
Jordi X Kellogg, M.D.,P.C(#)3332 W Mulberry Drive, Mequon, WI 53092Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/10/203061.0  61.0  48.7  0.01 %
Luster Custom Homes LLC(#)983 12th St., Vero Beach, FL 32960Construction of BuildingsTerm LoanPrime plus 2.75%1/10/203045.1  45.1  36.0  0.01 %
CV Flores LLC dba A All Animal Control(#)2809 W. Atkinson Ave, Milwaukee, WI 53209Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/9/20305.9  5.9  4.9  — %
Global Information Technology, Inc(#)1001 Sacramento Ave, West Sacramento, CA 95605Administrative and Support ServicesTerm LoanPrime plus 2.75%12/31/2029550.5  550.5  439.5  0.13 %
Bearwaters Brewing Company(#)524 Sackett St., Brooklyn, NY 11217Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2044255.8  255.8  275.7  0.08 %
Nick's Country Kitchen, LLC(#)8780 Pershall Rd, Hazelwood, MO 63042Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2044285.5  285.5  300.0  0.09 %
Pecos Entertainment LLC dba State Theater(#)6555 NW 9th Ave, Fort Lauderdale, FL 33309Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%12/31/2029126.1  126.1  130.7  0.04 %
VIP Construction Group Inc.(#)157571 E Wausau Ave, Wausau, WI 54403Construction of BuildingsTerm LoanPrime plus 2.75%12/30/202960.6  60.6  62.6  0.02 %
Kwik Stop dba Dilpreet Hundai(#)22940 Harlan Ln, St. Robert, MO 65584Gasoline StationsTerm LoanPrime plus 2.75%12/30/2044240.4  240.4  248.7  0.08 %
Jauchem & Meeh Inc.dba Gregory Meeh Design;Jermy Chernick Design;J&M S(#)6555 NW 9th Ave, Fort Lauderdale, FL 33309Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/30/2029266.8  266.8  246.6  0.08 %
Kiddie Garden Child Development Center, LLC(#)2579 Fairview Ave North, Roseville, MN 55113Social AssistanceTerm LoanPrime plus 2.75%12/30/204442.7  42.7  46.3  0.01 %
Spinnaker Vero Inc.(#)25150 W Warren Ave., Dearborn Heights, MI 48127Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%12/30/2044782.2  782.2  789.6  0.24 %
Larry J. Frick dba L & S Trucking(#)6151 S St., Anchorage, AK 99518Truck TransportationTerm LoanPrime plus 2.75%12/30/202948.0  48.0  42.5  0.01 %
Destination Hope, Inc. and The Academy for Addiction Professionals, In(#)25150 W Warren Ave., Dearborn Heights, MI 48127Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2044372.4  372.4  388.3  0.12 %
Home Decor Liquidators, LLC dba Home Decor Outlets;Home Decor Mattress(#)8712 60th Terrace South, Lake Worth, FL 33467Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/30/2029958.2  958.2  815.4  0.25 %
Destination Hope, Inc, TrilogyTreatment & Wellness Center, Inc, The Ac(#)6151 A St., Anchorage, AK 99518Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2029352.8  352.8  292.1  0.09 %
Vance Ewing LLC(#)7302 Kirby Ave, Lubbock, TX 79424Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/30/2029109.1  109.1  112.6  0.03 %
Mankamana Holdings, LLc dba Perfect Brow Art, Mankamana Holdings, LLC(#)73 Memorial Pkwy, Atlantic Highlands, NJ 07716Gasoline StationsTerm LoanPrime plus 2.75%12/27/2029133.4  133.4  122.9  0.04 %
Irony LLC dba Mulberry’s Garment Care(#)4541 N Dixie Hwy, Boca Raton, FL 33431Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/27/20291,011.3  1,011.3  831.3  0.25 %
10
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Pro-Tek Pest Control, Inc, Pro-Tek Nurseries, LLC, Pro-Tek Irrigation(#)1865 Wayzata Blvd, Long Lake, MN 55356Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029180.7  180.7  155.6  0.05 %
American Landscaping Company and Ground Effects Landscaping, LLC(#)8712 60TH TER South, Lake Worth, FL 33467Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044642.3  642.3  707.8  0.22 %
313 Air Duct LLC Dba Jouny Cleaning Services, M & J Restoration Emerge(#)3371 Glendale Blvd Ste 208, Los Angeles, CA 90039Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044248.3  248.3  265.4  0.08 %
313 Air Duck LLC dba Jouny Cleaning Services, M & J Restoration Emerge(#)11788 Sample Rd, Coral Springs, FL 33065Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029157.2  157.2  138.7  0.04 %
American Landscaping Company(#)219 NE 3rd St., Hallendale Beach, FL 33009Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029314.4  314.4  300.2  0.09 %
Tatoo Tony's Under My Skin LLC(#)1451 Coral Ridge Ave, Coralville, IA 52241Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/27/204499.3  99.3  112.1  0.03 %
QXC Communications, Inc(#)2851 Larimer St., Denver, CO 80205TelecommunicationsTerm LoanPrime plus 2.75%12/27/2029509.3  509.3  414.7  0.13 %
Watearth Inc(#)2564 Branch St., Middleton, WI 53562Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/27/202945.4  45.4  36.9  0.01 %
Protek Pest Control, Inc. Pro-tek Nurseries LLC, Pro-Tek Irrigation(#)493 Wilson Mill Rd, New Wilmington, PA 16142Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044141.5  141.5  156.2  0.05 %
A Family Member Homecare Group Inc, A Family Member Homecare Holdings,(#)512 E 11th St., Houston, TX 77008Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/27/2044117.9  117.9  122.6  0.04 %
K&S Hardware LLC dba Gopher Ace(#)2301 N Marginal Rd, Cleveland, OH 44114Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%12/27/202960.6  60.6  57.5  0.02 %
Icebox Cafe L.C. and Icebox Pantry, LLC(#)512 E 11th St, Houston, TX 77008Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/26/2030430.8  430.8  371.6  0.11 %
Bhatti LLC 2, Bhatti LLC(#)901 Lily Creek Rd, Ste 102, Louisville, KY 40243Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/26/2029109.1  109.1  91.6  0.03 %
Richwood Enterprises, LLC, Richwood Transport LLC, Richwood Transport(#)6487 Taft St., Hollywood, CA 33024Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/24/2029342.2  342.2  303.8  0.09 %
Ink! Coffee Company(#)2431 14th Ave SE, Watertown, SD 57201Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/24/2029499.8  499.8  407.0  0.12 %
Synergistic-Designs, LLC(#)706 W. 34th St., Austin, TX 78705Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/24/20297.3  7.3  5.9  — %
Aitheras Aviation Group, LLC and International Aviation Sales, Ltd.(#)4570 Pio Nono Ave, Macon, GA 31206Air TransportationTerm LoanPrime plus 2.75%12/23/2029511.7  511.7  438.5  0.13 %
Food Civilization Services LLC and 1701 W 15th St LLC(#)2431 14th Ave SE, Watertown, SD 57201Real EstateTerm LoanPrime plus 2.75%12/23/2044149.0  149.0  166.5  0.05 %
11
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
512 E 11th Street LLC and Big Brand Management Ltd. Co.(#)1336 SW 8th St., Miami, FL 33135Real EstateTerm LoanPrime plus 2.75%12/23/2044331.5  331.5  362.4  0.11 %
The Lamkin Group LLC and National Championship Enterprises LLC(#)200 N Furnace St, Birdsboro, PA 19508Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/23/2029647.6  647.6  528.1  0.16 %
Chris Farley DVM PA. dba Farley Veterinary Clinic(#)215 S Persimmon St, Tomball, TX 77375Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202913.1  13.1  13.6  — %
Freedom Enterprises, Inc(#)5428 Twilight Way, Parker, CO 80134Truck TransportationTerm LoanPrime plus 2.75%12/20/2029315.2  315.2  268.5  0.08 %
Macon Arts Center LLC(#)4120 7th Ave, Kenosha, WI 53140Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/20/2044620.8  620.8  677.5  0.21 %
La Tradicion Cubana Inc(#)7928 S 70th Lane, Laveen, AZ 85339Miscellaneous Store RetailersTerm LoanPrime plus 6.5%12/20/202912.2  12.2  11.6  — %
Freedom Enterprises, Inc - New RE company to be formed(#)626 Trailwood Ct., Garland, TX 75043Truck TransportationTerm LoanPrime plus 2.75%12/20/2044206.1  206.1  223.2  0.07 %
ACC International LLC(#)21221 Baron Lake Drive, Cedaredge, CO 81413Administrative and Support ServicesTerm LoanPrime plus 2.75%12/20/2044320.3  320.3  325.8  0.10 %
Shaddai Aesthetics Inc(#)21221 Baron Lake Drive, Cedaredge, CO 81413Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/20/202918.3  18.3  14.9  — %
Romain Tower Inc.(#)1657 Whiskey Rd., Aiken, SC 29803Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/20/2044889.6  889.6  892.7  0.27 %
RWBB LLC(#)23022 La Cadena Dr, Laguna Hills, CA 92653Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/19/202916.2  16.2  14.3  — %
New Casa Technologies, LLC(#)2705 US Highway 45 North, Henderson, TN 38340Truck TransportationTerm LoanPrime plus 2.75%12/19/20297.9  7.9  6.6  — %
Nebulos, LLC(#)17 South Grand Ave, Pasadena, CA 91105Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/19/202960.6  60.6  55.5  0.02 %
MBK IT Services Inc.(#)3909 Ambassador Caffrey Pkwy, Building 1, Lafayette, LA 70503Nonstore RetailersTerm LoanPrime plus 2.75%12/19/202921.0  21.0  21.7  0.01 %
Kuros, LLC(#)10 Covey Rd, Burlington, CT 06013AccommodationTerm LoanPrime plus 2.75%3/19/204512.5  12.5  14.1  — %
Kuros, LLC(#)364 Rugby Rd, Cedarhurst, NY 11516AccommodationTerm LoanPrime plus 2.75%12/19/2044394.8  394.8  445.0  0.14 %
GDIM Enterprises Inc dba AAMCO(#)785 Woodfern Drive, Hampshire, IL 60140Repair and MaintenanceTerm LoanPrime plus 2.75%12/19/202918.9  18.9  17.0  0.01 %
United Capital Group LLC(#)4370 Old US 25 Highway, Zirconia, NC 28790Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/19/2029312.3  312.3  269.9  0.08 %
Premier Gaming Solutions Inc(#)350 Mc Donnell St, Lewisville, TX 75057Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/18/202910.9  10.9  11.3  — %
Skyfall LLC dba EZ Self Storage(#)7938 Wright Rd, Houston, TX 77041Real EstateTerm LoanPrime plus 2.75%12/18/2044145.3  145.3  163.8  0.05 %
12
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Louisiana Apple, LLC, Mountain Apple, LLC, Kentucky Apple, LLC(#)461 G St., Los Banos, CA 93635Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/18/2029873.1  873.1  710.9  0.22 %
The Burlington Academy of Learning LLC(#)350 Mc Donnell St, Lewisville, TX 75057Social AssistanceTerm LoanPrime plus 2.75%12/18/202948.5  48.5  50.3  0.02 %
Sago Technologies Inc. dba Jak Ecig(#)4100 W. Alameda Ave # 300, Burbank, CA 91505Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/17/2029228.0  228.0  236.3  0.07 %
Pamela Bruner Enterprises, LLC(#)42 Campeau Place, Bergenfield, NJ 07621Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/17/202960.6  60.6  52.7  0.02 %
HADD Corp(#)4325 E. University Drive, Ste 40, Prosper, TX 75078Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/17/202912.2  12.2  11.6  — %
Farain Saremi dba USA Produce(#)1009 E Capitol Expressway, San Jose, CA 95121Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/16/2044471.8  471.8  503.2  0.15 %
J and K Project Management Consultants dba A. C. T. Construction(#)2301 NW Thurman St., Portland, OR 97210Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2029201.5  201.5  206.2  0.06 %
J and K Project Management Consultants LLC(#)14480 Alondra Blvd, La Mirada, CA 90638Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2044311.2  311.2  348.5  0.11 %
Signco America LP & Sparkle corporation Inc.(#)112 Orchard St., Stamford, CT 06902Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/16/20441,241.6  1,241.6  1,400.1  0.43 %
Dr Steven J Seidel(#)23 Saybrook Rd, Essex, CT 06426Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/13/202978.8  78.8  64.3  0.02 %
Math Enrichment, LLC(#)223 Ave B, Snohomish, WA 98290Educational ServicesTerm LoanPrime plus 2.75%12/13/2029194.0  194.0  158.0  0.05 %
Jen Macias LLC dba Duende(#)1000 Settlers Landing Court, Wake Forest, NC 27587Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/20297.9  7.9  6.4  — %
WURA LLC dba Dickey's Barbecue Pit(#)2141 E Anderson St, Stockton, CA 95205Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/13/202988.0  88.0  74.4  0.02 %
Essex Indoor Golf Center LLC(#)7473 Reese Rd #2, Sacramento, CA 95828Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/13/202976.4  76.4  67.7  0.02 %
The Floor Covering Warehouse, Inc(#)5801 Cleveland Ave, Riverdale, MD 20737Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/13/2044238.4  238.4  268.8  0.08 %
Nulane Entertainment LLC(#)10904 Baltimore St NE, Blaine, MN 55449Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/20297.3  7.3  5.9  — %
The Crane Guys, LLC(#)175 W Borgfeld Drive, San Antonio, TX 78260Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/13/20291,211.0  1,211.0  1,078.9  0.33 %
Abylex, Inc and Worpex LLC(#)99 Plum St, West Monroe, LA 71292Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/12/204494.4  94.4  86.2  0.03 %
Joyner5, Inc.dba British Swim School(#)134 Petaluma Blvd North, Petalumaca, CA 94952Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/12/202921.8  21.8  17.8  0.01 %
Belle Properties Northwest, Inc.(#)10 Tremont Rd, Tremont, PA 17981Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/12/2044130.4  130.4  140.9  0.04 %
Stockton TRI Industries, LLC(#)1407 Lomaland Drive, El Paso, TX 79935Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/12/20441,100.2  1,100.2  1,179.2  0.36 %
13
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Chambers Funeral Home & Crematorium PA & Riverdale Park Crematory, LLC(#)16 Marble St., Worchester, MA 01603Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/11/2044298.0  298.0  336.0  0.10 %
Professional Plumbing Services of Nela, LLC(#)560 56th St SW, Grand Rapids, MI 49548Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/11/202917.5  17.5  16.7  0.01 %
CCD Construction Services LLC dba Clearwater Outdoor Design, CCD Exca(#)510 -512 Stone Rd, Benicia, CA 94510Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/11/2044111.7  111.7  118.9  0.04 %
Vaughn Chiropractic, PLLC dba Catalyst Chiropractic and Rehab(#)10850 NW 138th St, Hialeah Gardens, FL 33018Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/11/202940.3  40.3  32.9  0.01 %
Ciel Du Mel LLC dba Lala's Creamery(#)2018 SE 6th Ave, Portland, OR 97214Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/10/202916.0  16.0  13.7  — %
SLCP Transport, LLC dba Aamco(#)200 Tuckerton Rd, Medford, NJ 08055Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/202960.6  60.6  55.5  0.02 %
Helping Hands Group Daycare dba Dawn to Dusk Learning and Child Care L(#)14006 Riverside Drive, Store No. 9270, Sherman Oaks, CA 91423Social AssistanceTerm LoanPrime plus 2.75%12/10/204438.7  38.7  41.7  0.01 %
Elita 7, LLC and Behavioral Nutrition Inc.(#)939 South 25th East, Ste. 115, Ammon, ID 83406Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/9/2029291.0  291.0  272.3  0.08 %
DB Talak LLC(#)413 Pond Meadow Rd, Westbrook, CT 06498Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/6/2044152.5  152.5  171.9  0.05 %
Scott's Hardware, Inc., dba Medford Inc(#)2500 Grand Ave, Billings, MT 59102Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 6.5%12/6/202912.2  12.2  11.6  — %
Bay Area Metal Fabricarion LLC(#)601 Portion Rd, Store #17, Lake Ronkonkoma, NY 11779Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/6/2029132.7  132.7  116.8  0.04 %
Glen Lamb dba Lambs Tree And Plant Health Care(#)437 N. Battlefield, Chesapeake, VA 23320Administrative and Support ServicesTerm LoanPrime plus 2.75%12/6/202918.2  18.2  16.1  — %
Ohanyan LLC dba Nestle Toll House Caf'e By Chip(#)301 N River St., Derby, KS 67037Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/6/202941.1  41.1  36.2  0.01 %
The Stout Group LLC(#)2377 Wessington Drive, Virginia Beach, VA 23456Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/6/2029232.8  232.8  203.7  0.06 %
Wolf Pack, LLC(#)400 West Village Way #3009, Smyrna, GA 30008Management of Companies and EnterprisesTerm LoanPrime plus 2.75%3/6/2030220.4  220.4  190.4  0.06 %
Natalie Enterprise Inc(#)2050 Capital Circle NE Ste B, Tallahassee, FL 32308Administrative and Support ServicesTerm LoanPrime plus 2.75%12/6/202919.6  19.6  20.4  0.01 %
Mazhar Family, Inc dba Edible Arrangements(#)1 Ackerman Ave, Clifton, NJ 07011Nonstore RetailersTerm LoanPrime plus 2.75%12/6/202965.5  65.5  54.0  0.02 %
Eagle Eye Truck Lines LLC and Eagle Eye Logistics LLC(#)1750 W Lake St., Chicago, IL 60612Truck TransportationTerm LoanPrime plus 2.75%12/6/20291,067.1  1,067.1  886.5  0.27 %
Used Tire Express 1, Corp(#)5401 Mitchelldale St., Ste B4, Houston, TX 77092Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/5/202983.7  83.7  71.7  0.02 %
14
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Standard Capital Corp(#)2522 N Highway 287, Decatur, TX 76234Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%12/5/202912.2  12.2  11.6  — %
Clearwater Engineering Inc(#)22540 Foothill Blvd, Hayward, CA 94541Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/5/2029572.3  572.3  503.4  0.15 %
Hook Line and Schooner Vinings LLC(#)10 Glorieta Rd, Sante Fe, NM 87508Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/4/202921.8  21.8  19.4  0.01 %
Soto Injury Law Firm, PA and My Attorney Inc(#)102 W 73rd St., New York, NY 10023Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/202960.6  60.6  49.5  0.02 %
Mega Sales Detergent Distributor, LLC(#,^)101 S Tryon St., Charlotte, NC 28280Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%11/29/202948.2  48.2  39.3  0.01 %
Behind the Scenes Chicago, LLC dba Paramount Events(#)86 Boston Rd, Chelmsford, MA 01824Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2029448.0  448.0  387.9  0.12 %
Loading Arms Plus Inc(#)2440 Wesr State Rd 84, Fort Lauderdale, FL 33312Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/27/202976.4  76.4  63.5  0.02 %
Keith E Burks dba 3B's Chalk It Up(#)77 Main St, Amesbury, MA 01913Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/27/202913.0  13.0  12.3  — %
Codorado, Inc. dba Dentalmart(#,^)820 Prospect Hill Rd, Windsor, CT 06095Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/27/202910.1  10.1  8.3  — %
American Bio Source, LLC dba Dieselgreen Fuels(#)405 Broadway St., Muncy, PA 17756Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%11/27/202955.2  55.2  57.2  0.02 %
Alice's Tea Cup, ATC !! LLC and ATC 111, LLC(#)9547 W Third St., Dayton, OH 45417Food ManufacturingTerm LoanPrime plus 2.75%11/27/2029262.7  262.7  218.0  0.07 %
Haversack Holdings LLC(#)3716 Garman Rd, Salem, VA 24153Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/27/2029120.5  120.5  98.1  0.03 %
Roots'n Shoots, LLC(#)101 San Patricio Ave, Ste 860, Guaynabo, PR 00968Administrative and Support ServicesTerm LoanPrime plus 2.75%11/27/202910.3  10.3  8.4  — %
Kanti Group Inc, Marina 84 Sport Bar & Grill LLC and Pub 52 Sports(#)15218 Penn Hills Lane, Houston, TX 77062Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2029144.6  144.6  119.8  0.04 %
ADPM Inc.(#,^)12646 S Springfield Ave, Alsip, IL 60803Real EstateTerm LoanPrime plus 2.75%11/26/202945.8  45.8  37.3  0.01 %
Ford Custom Renovation LLC(#,^)22 Cortlandt St., New York, NY 10007Construction of BuildingsTerm LoanPrime plus 2.75%11/26/20298.0  8.0  6.5  — %
Ultra Flow Dispense, LLC(#)1537 W 79th St, Chicago, IL 60620Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/26/202998.8  98.8  81.2  0.02 %
Fullmer's Landscaping, Inc.(#)1969 Jericho Turnpike, East Northport, NY 11731Administrative and Support ServicesTerm LoanPrime plus 2.75%11/26/2029187.9  187.9  161.0  0.05 %
B.S Carrier LLC and United Truck & Trailer Repair LLC(#)308 Glenwood Rd, Swainsboro, GA 30401Truck TransportationTerm LoanPrime plus 2.75%11/25/2029227.8  227.8  217.0  0.07 %
Hurricane Group, Inc.dba Crate Club Group(#)119 West 57th St., Ste 300, New York, NY 10019Other Information ServicesTerm LoanPrime plus 2.75%11/25/202948.2  48.2  39.3  0.01 %
ZUMI LLC dba Allstate Insurance(#,^)610 East Main St., Swainsboro, GA 30401Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/22/202911.6  11.6  11.7  — %
Best Choice Meats, Inc,(#,^)6041 Hammond School Rd, Salisbury, MD 21804Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%11/22/20441,334.0  1,334.0  1,436.3  0.44 %
15
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Cum Laude Enterprises, LLC(#)504 Fairfax Ave, Nashville, TN 37212Nonstore RetailersTerm LoanPrime plus 2.75%11/22/202918.5  18.5  17.0  0.01 %
A&N Design Studios Inc dba Door3 Business Application(#)8101 NW 10th St, Oklahoma City, OK 73127Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/2029118.1  118.1  102.9  0.03 %
S&C Cookies, Inc(#,^)1731 Prevatt Rd, Dothan, AL 36301Miscellaneous Store RetailersTerm LoanPrime plus 2.75%11/22/202954.2  54.2  44.3  0.01 %
Peanut Butter & Co Inc(#,^)209 N Main St., Breckenridge, CO 80424Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%11/22/2029180.8  180.8  147.2  0.04 %
Place Vendome Holding Co Inc.dba R&F Marketing(#)2902 North University Drive, Coral Springs, FL 33065Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/22/2029227.8  227.8  208.2  0.06 %
Place Vendome Holding Co. Inc.dba R&F Marketing(#)30 South Ivey Lane, Orlando, FL 32811Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/22/2044431.2  431.2  413.8  0.13 %
Cobb Roofing LLC(#,^)30 South Ivey Lane, Orlando, FL 32811Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/21/202951.8  51.8  42.1  0.01 %
The Rollin' Trapp LLC(#,^)290 Pratt St., Meriden, CT 06450Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/20297.7  7.7  6.9  — %
Pen's Electric Company(#)1836 Kathleen Rd, Lakeland, FL 33805Specialty Trade ContractorsTerm LoanPrime plus 6.5%11/21/202912.1  12.1  11.6  — %
Weeping Willow Kennel Inc(#,^)181 Shunpike Rd, Cromwell, CT 06416Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/21/20294.3  4.3  4.5  — %
Coral Springs Family Wellness LLC(#)717 Oregon St., Oshkosh, WI 54902Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/21/2030120.7  120.7  99.4  0.03 %
Semplice Cafe LLC(#,^)92 Town Line Rd, Fulton, NY 13069Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/202917.4  17.4  14.5  — %
AMH Construction, Inc.(#,^)745 Alexander Rd, Ste 1-3, Princeton, NJ 08540Construction of BuildingsTerm LoanPrime plus 2.75%11/20/2044272.8  272.8  295.5  0.09 %
Cable Management LLC(#,^)5100 Transamerica Drive, Columbus, OH 43228Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/20/2029132.6  132.6  115.8  0.04 %
AMH Construction, Inc.(#,^)5639 Wood Lane, Allentown, PA 18106Construction of BuildingsTerm LoanPrime plus 2.75%11/20/202972.3  72.3  69.1  0.02 %
AD Learning Group, LLC dba The Learning Experience & AD Learning NH LL(#,^)17811 Fairhaven Gateway, Cypress, TX 77433Social AssistanceTerm LoanPrime plus 2.75%11/18/2029132.5  132.5  107.9  0.03 %
Ryan & Selena LLC dba Head of the Class Learning Center(#,^)Empire Mall, 5000 W Empire Place, Room 916, Sioux Falls, SD 57106Social AssistanceTerm LoanPrime plus 2.75%11/18/2044442.0  442.0  468.0  0.14 %
Lindsley Excavating LLC(#,^)9029 Hwy 6, Ste 160, Missouri City, TX 77459Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/15/2029185.7  185.7  173.0  0.05 %
Champions Of Diversity Media Inc dba Champions of Diversity: Politics(#,^)650 NE Holladay St. Ste 1600, Portland, OR 97232Administrative and Support ServicesTerm LoanPrime plus 2.75%11/15/204471.9  71.9  78.5  0.02 %
MToxins Venom Lab LLC(#,^)105 Springside Drive, Akron, OH 44333Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/15/2044100.4  100.4  103.6  0.03 %
16
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
SSH Princeton LLC dba Stumpy's Hatchet House of Princeton(#)48267 Deer Trail Drive, Canton, MI 48187Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/15/203089.3  89.3  72.9  0.02 %
Sean McNamara(#)486 Vance St, Forest City, NC 28043Nonstore RetailersTerm LoanPrime plus 6.5%11/14/202912.1  12.1  11.6  — %
Ninth Avenue, LLC(#)327 Route 202/206, Bedminster Township, NJ 07921Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/14/203061.0  61.0  51.6  0.02 %
Rockin Robin Music Lessons LLC(#,^)8072 State Rd 46 East, Nashville, TN 47448Educational ServicesTerm LoanPrime plus 2.75%11/14/20299.0  9.0  7.3  — %
Bucklin Sumner & Associates LLC dba Bucklin Sumner & Associates LLC(#)14901 Potomac Town Place,, Woodbridge, VA 22191Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 6.5%11/14/202912.1  12.1  11.6  — %
The Pinnacle Development Group Inc dba The Goddard School(#)1101 Horizon Drive Ste 101, Fairfield, CA 94533Social AssistanceTerm LoanPrime plus 6.5%11/14/202912.1  12.1  11.6  — %
Winning Sales Plan Inc(#,^)908 S Jefferson St., Amarillo, TX 79101Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/14/202948.2  48.2  50.0  0.02 %
Ameen Enterprises, LLC dba Bargain Town(#,^)1111 E Washington St, Stephenville, TX 76401Gasoline StationsTerm LoanPrime plus 2.75%11/12/2029120.5  120.5  120.9  0.04 %
HH Wireless Connect LLC(#,^)1034 Hancock St., Sandusky, OH 44870Electronics and Appliance StoresTerm LoanPrime plus 2.75%11/12/20298.0  8.0  6.5  — %
NJ Floats, Inc(#)1034 Hancock St., Sandusky, OH 44870Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%5/12/204594.1  94.1  106.4  0.03 %
SSD Designs LLC(#,^)1452 Franklin Ave, Salem, OR 44460Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%1/12/2030339.6  339.6  305.6  0.09 %
Potomac Nail Spa Corporation(#,^)997 E Loop, Priest River, ID 83856Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/12/202950.2  50.2  41.2  0.01 %
Steven French dba French Woodworking(#,^)5 N Station Plaza, Great Neck, NY 11021Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/12/204462.0  62.0  69.9  0.02 %
Two Roses Salon 1, Inc.dba National Fluid Power Institute and NFPI(#,^)304 Business Highway 53, Minong, WI 54859Educational ServicesTerm LoanPrime plus 2.75%11/12/2029380.9  380.9  340.2  0.10 %
Adrienne's Gourmet Foods, Imagine Baking Inc(#,^)6001-6201 France Rd, New Orleans, LA 70126Food ManufacturingTerm LoanPrime plus 2.75%11/12/2044403.0  403.0  454.4  0.14 %
Adrienne's Gourmet Foods, Imagine Baking, Inc(#,^)1380 Main St., Waltham, MA 2451Food ManufacturingTerm LoanPrime plus 2.75%11/12/2029510.5  510.5  489.8  0.15 %
James Richard Farkas Jr. dba Lil Black Bear Inn(#,^)304 Business Highway 53, Minong, WI 54859AccommodationTerm LoanPrime plus 2.75%11/12/2044108.4  108.4  112.8  0.03 %
East River Plumbing, LLC(#,^)507 Bamboo Rd, Boone, NC 28607Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/8/204449.6  49.6  53.6  0.02 %
Integrated Vascular Services LLC(#,^)3650 NW 82 Ave, Doral, FL 33166Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/8/202977.1  77.1  63.4  0.02 %
Airbar Inc(#,^)950 Peninsula Corporate Circle, Boca Raton, FL 33487Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/8/202920.8  20.8  17.0  0.01 %
17
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Link Recreational, Inc(#,^)314 Industrial Park Drive, Waynesville, NC 28786Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/7/2044390.6  390.6  426.6  0.13 %
Lake Pontchartrain Properties, LLC(#,^)11900 S Marshfield Ave, Calumet Park, IL 60827AccommodationTerm LoanPrime plus 2.75%11/7/20441,141.1  1,141.1  1,286.8  0.39 %
Link Recreational, Inc(#,^)711 Hospital St., Richmond, VA 23219Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/7/2029825.7  825.7  685.3  0.21 %
WE MAKE DIFFERENCES, LLC(#,^)314 Industrial Park Dr, Waynesville, NC 28786Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/7/20296.1  6.1  5.9  — %
Dear Valley Sports Shop LLC(#)4028 Coldwater Rd, Fort Wayne, IN 46805Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 6.5%11/7/202912.1  12.1  11.6  — %
21 Air, LLC, 21 Cargo Inc, JW Aviation LLC, Freighter 27044 LLC(#,^)14029 56th St. NW, Williston, ND 58801Air TransportationTerm LoanPrime plus 2.75%11/6/2029988.5  988.5  804.9  0.25 %
Sunburst Trout Farm, LLC(#,^)1910 W. Dupont Rd, Fort Wayne, IN 46818Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%10/31/2044230.4  230.4  255.7  0.08 %
Guru Kirpa, Inc(#,^)5960 S Archer Ave, Chicago, IL 60638Gasoline StationsTerm LoanPrime plus 2.75%10/31/2044193.7  193.7  201.0  0.06 %
Mariscos El Oceano, Inc.(#,^)59-24 55th St., Maspeth, NY 11378Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2044123.9  123.9  136.7  0.04 %
Maine Service Corp(#,^)3006 New Castle Ave, New Castle, DE 19720Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%10/31/2029119.8  119.8  124.2  0.04 %
Dub Industries LLC(#,^)26691 Loma Verde, Mission Viejo, CA 92691Nonstore RetailersTerm LoanPrime plus 2.75%10/31/202968.1  68.1  63.0  0.02 %
Fave Realty, Inc.(#,^)28 West Park Place, Morristown, NJ 07090Real EstateTerm LoanPrime plus 2.75%10/31/2044116.0  116.0  130.8  0.04 %
Kerzner Contracting Corp(#,^)4112 Veiled Falls Drive, Pflugerville, TX 78660Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/31/2029107.8  107.8  87.9  0.03 %
ABC Sandblasting, LLC(#,^)217-84 Hempstead Ave, Jamaica, NY 11429Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/31/2029234.9  234.9  197.7  0.06 %
Jessie's Radiator and Automotive(#,^)1620 Ocean Ave, Bohemia, NY 11716Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/202915.1  15.1  13.8  — %
L& F Gullo Service Corp(#,^)1777 N Ventura Ave, Ventura, CA 93001Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%10/31/2029167.8  167.8  136.6  0.04 %
The Committed Pig LLC(#,^)520 Main St, Westbury, NY 11590Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2029267.2  267.2  277.0  0.08 %
C&P Trading and Sales Inc(#,^)905 Savoy Rd, Youngsville, LA 70592Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%10/31/2029239.6  239.6  195.2  0.06 %
11900 Marshfield Station Inc(#,^)23901 Calabasas Rd, Calabasas, CA 91302Gasoline StationsTerm LoanPrime plus 2.75%10/31/20441,238.4  1,238.4  1,352.7  0.41 %
Automotive Solutions, LLC(#,^)50 Industrial Park Rd, Princeton, KY 42445Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/2044294.8  294.8  317.1  0.10 %
Automotive Standard, LLC(#,^)50 Industrial Park Rd, Princeton, KY 42445Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/2044136.2  136.2  147.9  0.05 %
Sunburst Trout Farm, LLC(#,^)9912 Arizona Dr, Mohave Valley, AZ 86440Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%10/31/202964.7  64.7  67.1  0.02 %
18
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
D & H Construction Services, Inc.(#,^)363 East Alondra Blvd, Gardena, CA 90248Construction of BuildingsTerm LoanPrime plus 2.75%10/31/2029134.2  134.2  115.4  0.04 %
MJ Group, Inc(#,^)5300 S Orange Blossom Trail, Orlando, FL 32839Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/202920.4  20.4  16.8  0.01 %
BGB Leasing Inc and BGB Leasing Co.(#,^)6713 Biscay Hbr, San Antonio, TX 78249Truck TransportationTerm LoanPrime plus 2.75%10/30/20291,112.0  1,112.0  991.4  0.30 %
BGB Leasing Co.(#,^)17887 US-380, Ponder, TX 76259Truck TransportationTerm LoanPrime plus 2.75%10/30/204489.2  89.2  100.6  0.03 %
Lightning Strike Distributing, LLC dba Jedidiah's Jerky & Gournet Snac(#,^)2500 Plaza 5, Jersey City, NJ 07311Miscellaneous Store RetailersTerm LoanPrime plus 2.75%10/30/202962.3  62.3  52.0  0.02 %
Paul Wintner dba P & R Props(#,^)1644 Lebanon Rd, Lawrenceville, GA 30043Miscellaneous Store RetailersTerm LoanPrime plus 2.75%10/30/202953.9  53.9  43.9  0.01 %
Blue Agave & Brothers, LLC dba Blue Apachie Mexican Restaurant and Blu(#,^)8321 E Gelding Drive, Scottsdale, AZ 85260Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/30/202983.9  83.9  69.7  0.02 %
Plastic Depot, Inc(#,^)3723 Far Niente Way, Sacramento, CA 95834Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%10/30/2029151.7  151.7  123.7  0.04 %
Corple Enterprises, Inc(#,^)475 Park Ave S, 25th Floor, New York, NY 10016Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%10/28/2029150.3  150.3  147.4  0.05 %
Proximo Consulting Services Inc(#,^)160 Inverness Drive W, Ste 150, Englewood, CO 80112Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/28/202971.9  71.9  58.5  0.02 %
Perisseia Physicians LLC(#,^)125 Westchester Ave, White Plains, NY 10601Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/28/2044396.4  396.4  408.5  0.12 %
OWL Inc,(#,^)1489 Fulton St., Brooklyn, NY 11216Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%10/28/2029203.7  203.7  165.9  0.05 %
Marnon Vending LLC dba Naturals 2 Go San Antonio(#,^)18463 Livernois Ave, Detroit, MI 48221Nonstore RetailersTerm LoanPrime plus 2.75%10/28/20297.6  7.6  6.8  — %
IV Purpose Inc(#)8125 West Sahara Ave, Ste 300, Las Vegas, NV 89117Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/25/202938.2  38.2  32.9  0.01 %
Jbang LLC, WM Bang LLC, Bang Investments LLC(#)26300 La Alameda, Ste 200, Mission Viejo, CA 92691Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/202971.1  71.1  69.8  0.02 %
Exclusive Physicians PLLC dba EPIC Primary Care,PLLC(#,^)8860 S Sunnylane Rd, Oklahoma City, OK 73135Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/25/2029119.8  119.8  98.8  0.03 %
Landmark Ventures USA, Inc(#,^)8885 Haven Ave, Ste 120, Rancho Cucamonga, CA 91730Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%10/25/2029100.7  100.7  82.0  0.03 %
iLoka Inc. dba NewCloud Networks(#,^)5505 Johnston St., Lafayette, LA 70506Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%10/25/202995.9  95.9  99.4  0.03 %
Four Ace Electrical Services Corporation(#,^)403 E College St., Pulaski, TN 38478Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/25/202911.5  11.5  9.5  — %
Diamond Solutions LLC(#,^)4930 Mars Hill Rd, Bogart, GA 30622Machinery ManufacturingTerm LoanPrime plus 2.75%10/25/202912.2  12.2  10.0  — %
19
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Sultan's Palace L.L.C.(#,^)41540 National Rd, Belmont, OH 43718Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/24/202920.2  20.2  17.5  0.01 %
Fimac Inc dba American Educational Services(#,^)10240 Cosmopolitan Circle, Parker, CO 80134Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/23/202921.6  21.6  17.8  0.01 %
James Clark and Company, Inc.(#)2444 Georgia Slide Rd, Georgetown, CA 95634Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%10/22/202912.1  12.1  11.5  — %
Pyle Garage Doors OKC, INC dba Precision Door Service OKC(#,^)1364 E Palma Vista Drive, Palmview, TX 78572Repair and MaintenanceTerm LoanPrime plus 2.75%10/22/202914.3  14.3  11.6  — %
Todd's Car Wash, LLC(#,^)19 Scudder Ave, Northport, NY 11768Repair and MaintenanceTerm LoanPrime plus 2.75%10/18/2044340.6  340.6  384.1  0.12 %
UNIQUE PAVER INSTALLATIONS, INC.(#,^)107 Tabernacle Church Rd, Candor, NC 27229Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/17/202921.6  21.6  18.7  0.01 %
Roughcut LLC(#,^)5604 Slide Rd, Lubbock, TX 79414Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/17/2029451.7  451.7  468.3  0.14 %
Owens Family and Cosmetic Dentistry PLLC(#,^)2805 W Arimo Rd, Arimo, ID 83214Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/17/2029260.3  260.3  222.4  0.07 %
Pine Mountain Residential LLC(#)623 W Lake St., Chicago, IL 60661Specialty Trade ContractorsTerm LoanPrime plus 6.5%10/16/202912.1  12.1  11.5  — %
Powerlift Dumbwaiters, Inc(#)2301 W. Buckeye Rd, Phoenix, AZ 85009Machinery ManufacturingTerm LoanPrime plus 6.5%10/16/202911.9  11.9  11.3  — %
The Cow Harbor Beer Company LLC dba Sand City Brewing Co.(#)725 Atlantic Blvd, Atlantic Beach, FL 32233Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%7/11/2030250.2  250.2  218.4  0.07 %
S&D Beauty Spa Inc dba Elite Nails, dba Bella's Nails &dba Onyx Nail b(#,^)1117 L St., Modesto, CA 95354Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/11/2029149.8  149.8  124.7  0.04 %
Glenda D Brewer dba Bargain Store(#)9468 American Eagle Way Ste 100, Orlando, FL 32837General Merchandise StoresTerm LoanPrime plus 6.5%10/11/202912.1  12.1  11.5  — %
Q2 Ventures, LLC(#,^)77 N Centre Ave, Rockville Centre, NY 11570Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/8/2029170.2  170.2  167.3  0.05 %
Paketo LLC dba West Loop UPS Store(#,^)19539 Hess Rd Ste Ste #101, Parker, CO 80134Couriers and MessengersTerm LoanPrime plus 2.75%10/4/202915.8  15.8  13.2  — %
Joseph P Fusco DDS PC(#,^)1 Plainview Rd, Bethpage, NY 11714Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/202963.1  63.1  51.5  0.02 %
MVE, Inc dba Mid-Valley Engineering(#,^)3778 Highway 254, Cleveland, GA 30528Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/30/20291,181.3  1,181.3  1,005.9  0.31 %
A Child's Dream Educational Center LLC(#,^)74 S Main St., Woonsocket, RI 2895Social AssistanceTerm LoanPrime plus 2.75%9/30/2044178.1  178.1  191.7  0.06 %
Atlantic Pacific Hospitality Solutions Inc dba North Beach Bistro(#,^)4127 NW 34th St., Gainesville, FL 32605Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/20299.0  9.0  7.3  — %
Meldi Maa, Inc dba The River Complex(#,^)1440 Newport Rd, Colorado Springs, CO 80916Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2044418.6  418.6  457.1  0.14 %
SPIRE Manufacturing Solutions LLC(#,^)481 8th Ave Ste 1130, New York, NY 10001Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/30/20441,005.9  1,005.9  1,134.3  0.35 %
20
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
In Power Motors, LLC, In-Power Motors II LLC, In-Power Motors III LLC(#,^)17 David Blvd, Tampa, FL 33606Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%9/30/2044618.5  618.5  640.5  0.20 %
International Protection Group, LLC(#,^)11008 Rene St., Lenexa, KS 66215Administrative and Support ServicesTerm LoanPrime plus 2.75%9/30/202978.6  78.6  75.4  0.02 %
AV Strategy, Inc(#,^)4127 NW 34th St., Gainsville, FL 32605Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/30/2029247.7  247.7  221.7  0.07 %
DG Business Solutions, Inc(#,^)1101 River Rd, New Windsor, NY 12553Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/30/2029214.3  214.3  176.6  0.05 %
A Child's Dream Educational Center LLC(#,^)3790 Merrick Rd, Seaford, NY 11783Social AssistanceTerm LoanPrime plus 2.75%9/30/2029179.5  179.5  146.9  0.04 %
Heart and Vascular Associates of Tampa, LLC(#,^)1715 N 1st St, Bloomfield, NM 87413Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/2044766.6  766.6  776.8  0.24 %
50 Taps, LLC dba Colorado Taproom & Grill(#,^)8908 Wildlife Lane, Sanford, FL 32771Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/202973.8  73.8  61.2  0.02 %
Bev's Sweets LLC(#,^)3721 North 162nd St., Garber, OK 73701Administrative and Support ServicesTerm LoanPrime plus 2.75%9/30/2044211.5  211.5  229.8  0.07 %
Crown Waste Corp(#,^)22365 Alydar Drive, Lexington Park, MO 20653Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%9/30/202947.6  47.6  42.1  0.01 %
Zima Dining Inc. dba Country Kitchen(#,^)3029 South St., Long beach, CA 90805Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/202960.0  60.0  62.1  0.02 %
Hoagie Barmichaels Inc(#,^)1497 N Mt. Vernon Ave, Colton, CA 92324Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/2044111.8  111.8  111.8  0.03 %
Wagner & Sons Inc(#,^)63 Flushing Ave Unit 342, Brooklyn, NY 11205Nonstore RetailersTerm LoanPrime plus 2.75%9/27/202917.9  17.9  14.6  — %
Universe Appliance Repairs Inc.(#,^)2 Old Worcester Rd, Webster, MA 01571Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044581.4  581.4  584.6  0.18 %
Cherry and Candlewood Inc dba Aamco(#,^)3790 Merrick Rd, Seaford, NY 11783Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044426.2  426.2  480.7  0.15 %
Double H Services, LLC, C&T Oil Field Services, LLC and Brian S. Holma(#,^)2800 Swanee Ave, Buford, GA 30618Support Activities for MiningTerm LoanPrime plus 2.75%9/27/2029976.5  976.5  873.5  0.27 %
Aztec Machine & Repair Inc, Cranrd & Material(#,^)3711 Paseo Del Norte NE, Albuquerque, NM 87113Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044705.1  705.1  724.5  0.22 %
Titan Laser Screed Concrete Services, LLC(#,^)1401 Interstate Drive, Champaign, IL 61822Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/202947.6  47.6  40.4  0.01 %
Total Pallet Consolidation LLC(#,^)7808 N Custer Rd, Freesoil, MI 49411Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/27/202917.9  17.9  14.8  — %
Universe Appliance Repairs Inc.(#,^)4060 SW County Rd 232, Bell, FL 32619Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2029631.1  631.1  552.8  0.17 %
Zmetra Clearspan Structures LLC(#,^)82 Clarksville Rd, Folsom, CA 95682Miscellaneous ManufacturingTerm LoanPrime plus 2.75%9/27/2044432.9  432.9  488.2  0.15 %
Stiegelbauer Associates Inc.(#,^)360 East State St., Salem, OH 44460Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/2029190.5  190.5  155.5  0.05 %
Santa Fe Flooring LLC(#,^)1040 4th Ave, Audubon, IA 50025Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%9/26/2029475.2  475.2  407.1  0.12 %
21
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
MeShare Inc.(#,^)3301 N 23rd St., McAllen, TX 78501Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%9/26/20291,190.8  1,190.8  1,059.3  0.32 %
Adam's Construction & General Contracting LLC(#,^)206 Frankie Lane, Ladson, SC 29456Construction of BuildingsTerm LoanPrime plus 2.75%9/26/202965.1  65.1  56.0  0.02 %
Anderson's Outdoor Adventures, LLC(#,^)500 West Silver Spring Drive, Ste K 200,, Glendale, WI 53217Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/25/202921.4  21.4  21.3  0.01 %
Byler, Wolfe, Lutsch and Kampfer CPAs, Inc(#,^)5617 Causeway Blvd, Tampa, FL 33619Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/25/204452.9  52.9  52.1  0.02 %
luv 2 Play Nor Cal, LLC(#,^)206 Bell Lane, Ste B, West Monroe, LA 71291Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/25/2029107.2  107.2  89.7  0.03 %
Quality Machine of Iowa, Inc(#,^)1702 Fawn Gate St, San Antonio, TX 78248Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/25/202964.3  64.3  66.5  0.02 %
Flamingo Bowl, Inc(#,^)876 Virginia Ave, Hapeville, GA 30354Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/24/2029194.1  194.1  175.1  0.05 %
Unified Utility Services LLC(#,^)711 E Valley Rd, Basalt, CO 81621Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/20/2044156.4  156.4  176.1  0.05 %
Standard Real Estate Services LLC(#)2917 1st Ave SE, Cedar Rapids, IA 52402Real EstateTerm LoanPrime plus 6.5%9/19/202912.0  12.0  11.4  — %
Payne's Enviromental Service, LLC dba Bamaco(#,^)11093 Black Marble Way, Redding, CA 96003Administrative and Support ServicesTerm LoanPrime plus 2.75%9/18/2044515.8  515.8  529.7  0.16 %
Host Marketing, LLC(#)14691 W 11 Mile Rd, Oak Park, MI 48237Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/18/202912.0  12.0  11.4  — %
Vancole Investments, Inc. dba Smoothie King #913 &;Dream Developmenf G(#,^)250 Passaic Ave Ste 200, Fairfield, NJ 07004Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/202911.4  11.4  9.3  — %
Natalie Hart LLC dba Lady of Luxury &dba Country Sugar Events, dba Que(#)6718 Katherin Ave, Van Nuys, CA 91405Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/17/202953.8  53.8  49.4  0.02 %
Win Health Institute, LLC(#,^)1016 S Texas Blvd, Weslaco, TX 78599Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/17/20297.1  7.1  6.1  — %
Game Station, Inc.(#,^)31-65 138th St. Apartment 3K, Flushing, NY 11354Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/16/202919.3  19.3  17.4  0.01 %
Bay Bowl Inc dba Shasta Lanes(#,^)3433 Brambleton Ave, Ste 104A, Roanoke, VA 24018Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/13/2044531.9  531.9  599.1  0.18 %
The Steel Method LLC dba Sneeze It(#,^)845 Mandoline Ave, Madison Heights, MI 48071Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/12/2029160.8  160.8  131.3  0.04 %
Oak Park Social LLC(#)18315 W. Dixie Highway, North Miami Beach, FL 33160Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/12/2045135.9  135.9  140.5  0.04 %
New Flow Plumbing and Rooter Inc.(#,^)845 Mandoline Ave, Madison Heights, MI 48071Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/12/202947.1  47.1  38.8  0.01 %
ACSS CPA, LLC(#,^)4191 Naco Perrin Blvd, San Antonio, TX 78217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/12/204439.6  39.6  41.7  0.01 %
Covert Recordings LLC(#,^)129 A Orpha Drive, Middlebury, IN 46840Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/11/202911.3  11.3  11.2  — %
22
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Prime Precision Machining, LLC(#,^)1914 S Power Rd. STE 101, Mesa, AZ 85206Real EstateTerm LoanPrime plus 2.75%9/11/2044267.9  267.9  280.7  0.09 %
Prime Precision Machining, LLC(#,^)607-609 S 2nd St., Philadelphia, PA 19147Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/11/2029205.1  205.1  177.5  0.05 %
Miami Squeeze Inc dba Miami Squeeze, LLC(#,^)5380 Cameron St, Las Vegas, NV 89118Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/11/2029110.0  110.0  96.9  0.03 %
Family Insight, P.C.(#,^)1208 Houghton Lane, Bennington, VT 5201Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/11/2029238.2  238.2  235.1  0.07 %
Softcare247, LLC(#)2223 Dungan Ave, Bensalem, PA 19020Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/11/202912.0  12.0  11.4  — %
Body on Cue Health and Fitness LLC(#,^)1110 Willow Glen Drive, Yuba City, CA 95991Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/6/202942.9  42.9  35.6  0.01 %
Eco Electric LLC(#,^)83413 Overseas Highway, Islamorada, FL 33036Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/5/202963.4  63.4  51.5  0.02 %
Philly Games Inc.dba Queen & Rock Game Cafe(#,^)50 West 23rd St., 7th floor, New York, NY 10010Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/5/202959.5  59.5  48.8  0.01 %
Smokin AZ, LLC dba Dickey's Barbecue Pit AZ(#,^)361 Troy Ave, Brooklyn, NY 11213Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/5/202963.1  63.1  52.5  0.02 %
SVT Masonry Limited Liability Company(#,^)7676 Hillmont St., Ste 109, Houston, TX 77040Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/5/202972.6  72.6  69.6  0.02 %
Thawk LLC(#,^)2970 Stonecrest Pass, Lithonia, GA 30038Administrative and Support ServicesTerm LoanPrime plus 2.75%8/30/20297.8  7.8  6.4  — %
No Push Backs, LLC(#)5946 Meijer Drive, Cincinnati, OH 45150Personal and Laundry ServicesTerm LoanPrime plus 6.5%8/30/202911.6  11.6  11.0  — %
Dog House Sportfishing Charters Inc(#)12595 S Somerton Ave, Yuma, AZ 85365Scenic and Sightseeing TransportationTerm LoanPrime plus 6.5%8/30/202911.9  11.9  11.3  — %
Double Scoop Ice Cream, LLC(#,^)27 Kings Hwy, Groton, CT 06340Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/29/204495.6  95.6  100.5  0.03 %
3C Consumer Network & Designs LLC(#,^)2018 SE 6th Ave, Portland, OR 97214Real EstateTerm LoanPrime plus 2.75%8/29/202914.2  14.2  12.2  — %
Camror LTD dba Jersey Mike's(#,^)5410 Pipers Creek Court, Sugar Land, TX 77479Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/29/203084.8  84.8  87.8  0.03 %
The BMF Media Group LLC(#,^)190 Minerva St., Tonawanda, NY 14150Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/29/2029355.1  355.1  288.5  0.09 %
Esquire Mini Mart LLC & Morgan Store Building LLC(#,^)740 Dennery Rd, San Diego, CA 92154Food and Beverage StoresTerm LoanPrime plus 2.75%8/29/202948.5  48.5  45.5  0.01 %
Groton Bowling Center and Entertainment Inc(#,^)377 Boston Post Rd, Milford, CT 06460Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/29/2044934.7  934.7  991.1  0.30 %
Crown Heights Bunch O Bagels & More Inc & 361 Bagel Holding LLC(#,^)107 S Nottawa St, Sturgis, MI 49091Food and Beverage StoresTerm LoanPrime plus 2.75%8/29/202937.9  37.9  39.2  0.01 %
Linsey Schwertdfeger,, Inc.(#,^)9831 Greenbelt Rd Ste 208 (Unit H-2), Lanham, MD 20706Repair and MaintenanceTerm LoanPrime plus 2.75%8/28/202967.1  67.1  55.9  0.02 %
23
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Blue Eagle Transport Inc.,Golden Eagle Tran and Green Eagle Transpor(#,^)10891 La Reina Rd, Ste 100, Delray Beach, FL 33446Couriers and MessengersTerm LoanPrime plus 2.75%8/28/2029425.8  425.8  367.7  0.11 %
DB Talak LLC(#,^)34099 Tuscan Creek Way, Temecula, CA 92592Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/28/202982.9  82.9  85.7  0.03 %
HRS2, LLC(#,^)3294 Long Meadow Court, West Bloomfield Township, MI 48324Nonstore RetailersTerm LoanPrime plus 2.75%8/28/2029219.2  219.2  209.9  0.06 %
Khari E. J. Myers dba Khari Imagery & 190 Minerva LLC(#,^)2-4 Commerce Way, Auburn, NY 13021Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/28/204459.3  59.3  66.8  0.02 %
The Hometown Welcome Program, Inc & Fredric Anthony Gushwa(#,^)1046-1050 Orange Ave, West Haven, CT 06516Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/27/202992.2  92.2  82.5  0.03 %
Maryland Urgent Care, Inc.(#,^)106 South Washington St., Pleasantville, IA 50225Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/27/204445.6  45.6  49.1  0.01 %
ADA Internacional Inc(#,^)8358 W Oakland Park Blvd #203E, Sunrise, FL 33351Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%8/26/202921.3  21.3  17.3  0.01 %
Crystal S. Prado dba Crystal Clear Accounting(#)1157 Main St., Clifton, NJ 07011Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/26/20293.1  3.1  2.9  — %
JLT Foods, LLC(#,^)252 FM 3162, Sandia, TX 78383Food ManufacturingTerm LoanPrime plus 2.75%8/23/202919.9  19.9  16.2  — %
PJT Logistics, Inc.(#,^)15562 HWY-South, Whitehouse, TX 75791Truck TransportationTerm LoanPrime plus 2.75%8/23/202947.3  47.3  49.0  0.01 %
The Pet Stop, LLC(#,^)20 Universal Place, Carlstadt, NJ 07072Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/23/20297.1  7.1  6.0  — %
Elite Motors LLC(#,^)305 W Main St., Mayo, FL 32066Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%8/23/202982.9  82.9  85.7  0.03 %
SRJ construction Corp(#,^)14101 Main St., Ste 4101, Hesperia, CA 92345Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/23/202910.7  10.7  8.9  — %
MS Integrated Psychotherapy & Counseling, LLC(#,^)2066 Route 112, Medford, NY 11763Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/22/202970.3  70.3  63.0  0.02 %
The Roux Southern Kitchen, LLC(#,^)5951 NW 151 St., Hialeah, FL 33014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/22/202917.2  17.2  17.5  0.01 %
MB Nursery LLC dba The Garden Center(#,^)7748 Troost Ave, Kansas City, MO 64131Administrative and Support ServicesTerm LoanPrime plus 2.75%8/21/202987.5  87.5  89.7  0.03 %
Metro R Services Inc. and Metal & Roof Supplies, Inc.(#,^)6704 Main St., Miami Lakes, FL 33014Repair and MaintenanceTerm LoanPrime plus 2.75%8/21/2029183.5  183.5  172.0  0.05 %
Auto Unique LLC(#,^)135 Clove Branch Rd, Hopewell Junction, NY 12533Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%8/20/204412.2  12.2  13.7  — %
William Martinez dba Bad Ass Coffee of Hawaii(#)8343 Kaula Drive, Fair Oaks, CA 95628Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/20/202921.7  21.7  18.2  0.01 %
Signature Rooms, Inc.(#,^)4348 Waialae Ave Unit 315, HONOLULU, HI 96816Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%8/19/2029159.8  159.8  165.4  0.05 %
24
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Accent Home Services LLC dba Benjamin Franklin Plumbing of Kansas City(#,^)2200 Eastridge Loop, San Jose, CA 95122Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/15/2029106.5  106.5  97.8  0.03 %
AJN Innovations LLC dba Burgerim(#)637 Boston Post Rd, Guilford, CT 06437Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/15/203063.4  63.4  53.1  0.02 %
American Healthy Vending, Inc(#,^)3888 Lightner Rd, Vandalia, OH 45377Nonstore RetailersTerm LoanPrime plus 2.75%8/15/2029100.6  100.6  87.9  0.03 %
Accelerate Educational Solutions, LLC dba Tutor My Success(#,^)1410 Pine Ridge Rd, Ste 13, Naples, FL 34108Educational ServicesTerm LoanPrime plus 2.75%8/14/202916.3  16.3  13.4  — %
Ranson Excavating, Inc(#,^)82555 Grass Flat Lane, Indio, CA 92203Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/13/202914.2  14.2  11.5  — %
KM Electrical Services, Inc(#,^)695 Independence DrIive, Napoleon, OH 43545Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/12/202973.4  73.4  59.9  0.02 %
Love Playing LLC(#)6201 Centennial Blvd, Nashville, TN 37209Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/9/2030153.9  153.9  134.3  0.04 %
Elixir Enterprises, LLC dba Guilford Renee's(#,^)27603 Pkwy Rd, Easton, MD 21601Food and Beverage StoresTerm LoanPrime plus 2.75%8/8/202918.5  18.5  15.1  — %
Suite Luxury, Inc(#,^)632 N Broadway, Amityville, NY 11701Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%8/7/202917.8  17.8  14.5  — %
A & S Services LLC dba Kona Ice of Troy(#)18350 Kedzie Ave Ste 204, Homewood, IL 60430Food Services and Drinking PlacesTerm LoanPrime plus 6.5%8/7/202911.9  11.9  11.3  — %
Accord Law, APC(#,^)1850 Rochester Rd, Canadaigua, NY 14424Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/2/20297.1  7.1  5.8  — %
Leader Engineering-Fabrication, Inc.(#,^)27720 Ave Scott, Santa Clarita, CA 91355Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%8/2/2029118.5  118.5  122.6  0.04 %
Billy Auto Inc(#,^)54 West Milton Rd, Milton, VT 5468Repair and MaintenanceTerm LoanPrime plus 2.75%7/31/2044320.9  320.9  324.6  0.10 %
East Coast Flight Services, Inc and Aviation Consulting Enterprise, LL(#,^)3111 N. University Drive, Coral Springs, FL 33065Air TransportationTerm LoanPrime plus 2.75%7/31/2029541.2  541.2  467.7  0.14 %
Healthcare Holdings of America, LLC, Senior Market Advisors, Inc, CHA(#,^)5246 SW 8th St 103B, Coral Gables, FL 33134Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/31/2029417.7  417.7  397.7  0.12 %
Joseph Centonze dba Off Kilter Kilts(#,^)3111 Princeton Rd, Hamilton, OH 45011Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%7/31/20297.7  7.7  6.3  — %
Genecco Produce, Inc. & Leo Genecco & Sons, Inc.(#,^)130 Charter Oak Drive, Canyon Lake, TX 78133Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%7/31/2029724.6  724.6  676.2  0.21 %
Humd, LLC dba La Rosa Chicken and Grill(#)28940 Golden Lantern, Laguna Niguel, CA 92677Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/31/2030130.9  130.9  111.9  0.03 %
Gray Rock Quarry, LLC and William E Dailey III(#,^)13373 Highway 3235, Larose, LA 70373Mining (except Oil and Gas)Term LoanPrime plus 2.75%7/31/2044445.1  445.1  415.1  0.13 %
St. Francis Home Health Inc(#,^)1436 Ayala Dr, Unit M, Rialto, CA 92376Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/31/202970.6  70.6  57.4  0.02 %
Living Spring Home Health Inc.(#,^)2565 E 17th St, Ammons, ID 83406Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/31/2029127.0  127.0  113.6  0.03 %
25
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
La Mount Group LLC(#,^)288 North Industrial Park Drive, Liberty, MS 39645Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/2029240.0  240.0  195.0  0.06 %
Canyon Lake Kids Academy, LLC(#,^)611 Greenville Blvd SE, Greenville, NC 27858Social AssistanceTerm LoanPrime plus 2.75%7/31/204497.0  97.0  103.5  0.03 %
Quick and Quality Services dba Bella Roma Pasta & Pizza & Farshad Fari(#,^)2437 Corinth Ave Apt 130, Los Angeles, CA 90064Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/202910.7  10.7  9.4  — %
Dant A Sandras, D.D.S. LLC(#,^)9027 Canoga Ave, Canoga Park, CA 91301Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/30/2029202.9  202.9  171.2  0.05 %
Roman Tint Inc.(#,^)E 2947 H-44, Traunik, MI 49891Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/30/20297.8  7.8  6.6  — %
Jbelis Stop N' Go, LLC dba Planet Smoothie(#,^)936 Roosevelt Trail Unit 1 & 2, Windham, ME 04062Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/30/202918.4  18.4  15.3  — %
Platt & Associates, LLC dba Flag Staff Apparel, Platt & Associates, LL(#,^)739 NE MLK Blvd, Portland, OR 97221Apparel ManufacturingTerm LoanPrime plus 2.75%7/30/204455.5  55.5  61.2  0.02 %
Grad Street LLC(#)2766 West Good CT, Boise, ID 83702Nonstore RetailersTerm LoanPrime plus 6.5%7/30/202911.9  11.9  11.3  — %
Aeromax Industries, Inc, HITM, Inc and TMCB LLC(#,^)16465 MN-65, Ham Lake, MN 55304Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%7/30/2044777.4  777.4  785.1  0.24 %
Hodges Family Entertainment LLC dba Space Cadets Indoor Playground(#)520 N Franklintown Rd, Baltimore, MD 21223Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/30/202914.7  14.7  13.2  — %
Micheal Birch and Tracy M. Pierce(#,^)6600 Liberty Rd, Gwynn Oak, MD 21207Gasoline StationsTerm LoanPrime plus 2.75%7/29/204453.9  53.9  58.6  0.02 %
Moore Chiropractic Center, P.A.(#,^)209-34 112 Ave, Queens Village, NY 11429Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/26/20298.6  8.6  8.6  — %
Power Associates Inc.(#,^)5101 Stine Rd, Bakersfield, CA 93313Real EstateTerm LoanPrime plus 2.75%7/26/202914.1  14.1  11.5  — %
Sou's LLC(#,^)1201 N Goliad St., Rockwall, TX 75087Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/26/20295.6  5.6  5.1  — %
Dan Dahlin Inc.(#,^)3665 SW Hall Blvd, Beaverton, OR 97005Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/26/2044403.7  403.7  454.7  0.14 %
Franklin Care Pharmacy Incorporated(#,^)125 Chestnut Hill Drive, York, PA 17408Health and Personal Care StoresTerm LoanPrime plus 2.75%7/25/202951.1  51.1  52.8  0.02 %
A&W ALF, LLC dba A & W Assisted Living Facility(#,^)1000 North Highway 77, Hillsboro, TX 76645Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%7/24/204498.7  98.7  108.9  0.03 %
Hardrock Alpha Enterprises, LLC(#,^)112 South Main St., Spring Hill, KS 66083Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/19/202914.8  14.8  12.5  — %
700 Services Inc.dba 700 Credit Repair(#,^)6013 McRaven Rd, Jackson, MS 39209Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%7/19/20297.1  7.1  5.7  — %
Lawrence Adeyemo & Co LLC(#)6701 West 23rd St., St. Louis Park, MN 55426Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%7/19/20299.5  9.5  9.0  — %
Bonfire Hot Yoga LLC(#,^)29973 Bouquet Canyon Rd, Santa Clarita, CA 91390Educational ServicesTerm LoanPrime plus 2.75%7/18/20297.8  7.8  6.5  — %
26
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
JDM2 Water Station LLC(#,^)1504 Chestnut St., Mishawaka, IN 46545Nonstore RetailersTerm LoanPrime plus 2.75%7/18/2029197.0  197.0  178.9  0.05 %
Ameritube, LLC(#,^)5425-D Hamilton Ave, Cleveland, OH 44114Primary Metal ManufacturingTerm LoanPrime plus 2.75%7/18/2029111.6  111.6  115.4  0.04 %
The Bean Coffee Co. LLC(#)10401 S Belcher Rd, Largo, FL 33771Food Services and Drinking PlacesTerm LoanPrime plus 6.5%7/17/202911.9  11.9  11.3  — %
Baton Rouge Cargo Services Inc(#,^)1612 Jackson St., Spirit Lake, IA 51360Support Activities for TransportationTerm LoanPrime plus 2.75%7/17/2044288.8  288.8  301.1  0.09 %
Garage Floor Coating of MN.com,LLC(#,^)4940 Merrick Rd, Massapequa Park, NY 11762Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/16/2044983.4  983.4  1,004.8  0.31 %
Bouquet Canyon Kennels(#,^)88 High St., Mountclair, NJ 07042Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/16/2044297.5  297.5  298.9  0.09 %
Adam Family Bowl Inc(#,^)2135 Gallatin Pike N, Store 4, Madison, TN 37115Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/16/2044131.3  131.3  140.2  0.04 %
Beacon Metal Fabricators, Inc.(#,^)9130 Wayfarer Ln, Houston, TX 77075Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%7/12/202965.9  65.9  60.6  0.02 %
VGI Medical LLC(#,^)48 Horse Hill Rd, Cedar Knolls, NJ 07927Miscellaneous ManufacturingTerm LoanPrime plus 2.75%7/12/2044322.2  322.2  362.9  0.11 %
Last Touch, LLC(#,^)574-614 Tonnelle Ave, Jersey City, NJ 07307Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%7/11/2044100.2  100.2  102.9  0.03 %
D DeGregoria LLC dba The UPS Store 4235 Massapequa(#,^)1085 Telegraph St, Reno, NV 89502Couriers and MessengersTerm LoanPrime plus 2.75%7/10/202974.6  74.6  62.4  0.02 %
Menskha Inc(#)2 Greenwich Office Park, Ste 260, Greenwich, CT 06831Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%7/10/202911.9  11.9  11.3  — %
Nash-Delphia LLC(#,^)1016 S. Towne Ave, Unit 123, Los Angeles, CA 90021Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%7/2/202914.0  14.0  11.4  — %
Anderson Companies LLC(#,^)116 Toledo Drive, Lafayette, LA 70506Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2044203.1  203.1  213.8  0.07 %
Advance Transit LLC(#,^)6607 S Central Ave, Phoenix, AZ 85042Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/28/2044749.7  749.7  804.8  0.25 %
Sundown Audio, LLC(#,^)514 West 21St St., Newton, NC 28658Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/28/2044896.4  896.4  914.0  0.28 %
Specialty Surgery Center, Inc.(#,^)1172 Co Rd 956, Ashland, OH 44805Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/20291,167.7  1,167.7  1,036.6  0.32 %
Balboa Fashion LLC(#,^)5505 Peachtree Dunwoody Rd Stes 640,645, Atlanta, GA 30342Apparel ManufacturingTerm LoanPrime plus 2.75%6/28/20297.0  7.0  5.7  — %
Nevada Recycling and Salvage LTD, AMCB LLC(#,^)200 E Chestnut St, Chicago, IL 60611Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/28/20441,232.6  1,232.6  1,247.1  0.38 %
Upul's Travel Service & Tours Inc(#,^)3015 S White Horse Pike, Hammonton, NJ 08037Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2029257.3  257.3  208.6  0.06 %
Big Picture Group LLC(#,^)1033 River St., Port Huron, MI 48060Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/28/2029140.2  140.2  113.7  0.03 %
5161 LLC(#,^)694 Main St. South, Woodbury, CT 06798Nonstore RetailersTerm LoanPrime plus 2.75%6/28/20291,110.6  1,110.6  1,011.6  0.31 %
27
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Kim Howard Corp dba NPN Machine Tools(#,^)654 Shoppers Lane, Covina, CA 91723Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/28/2029198.7  198.7  205.2  0.06 %
Jian Yang and Kanger House LLC(#,^)935 N La Jolla, Los Angeles, CA 90046Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/27/2029112.2  112.2  91.5  0.03 %
Port Huron Ophthalmology, PLLC dba Black River Optical(#,^)1478 E Mountain Drive, Santa Barbara, CA 93108Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/202914.0  14.0  11.4  — %
Crestview Ridge Farms LLC(#,^)654 Shopping Lane, Covina, CA 91723Crop ProductionTerm LoanPrime plus 2.75%6/28/2044530.5  530.5  562.1  0.17 %
Richmond Street Partners, LLC(#,^)66 Twin Oaks Rd, Bridgewater, NJ 08807Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%6/28/202989.3  89.3  73.3  0.02 %
K & K Restaurant LLC(#,^)904 Suncook Valley Hwy, Epsom, NH 3234Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2044133.2  133.2  145.9  0.04 %
Baobab Asset Management LLC(#,^)352 Bedford St., Lakeville, MA 2347Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/28/202946.8  46.8  37.9  0.01 %
Southern Specialties Transportation LLC(#,^)177 W Cottonwood Ln, Ste 12, Casa Grande, AZ 85122Truck TransportationTerm LoanPrime plus 2.75%6/28/2029160.2  160.2  154.3  0.05 %
Good News Cafe, LLC(#,^)251 Little Falls Drive, Wilmington, DE 19807Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2044246.6  246.6  251.2  0.08 %
NJ Floats Inc(#,^)145 Moon Rd, Chesapeake City, MD 21915Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/2044173.5  173.5  195.4  0.06 %
Upul's Travel Service & Tours Inc(#,^)2429 Iowa St. Stes B, C and D, Lawrence, KS 66046Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2044345.2  345.2  334.5  0.10 %
Tim's Truck Capital & Auto Sales, Inc(#,^)2300 Nooseneck Hill, Coventry, RI 2816Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/27/2029198.8  198.8  205.3  0.06 %
Ailky Corporation & Wyspen(#,^)580 39 Rd, Palisade, CO 81526Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/27/202945.6  45.6  37.0  0.01 %
Pawfection Pet Services LLC(#,^)1327 Wood Branch Drive, Charlotte, NC 28273Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/27/20299.8  9.8  8.0  — %
Boucherie US Inc(#,^)1491 Hammond St., Bangor, ME 04401Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/20291,101.4  1,101.4  893.1  0.27 %
S & T Hardware Inc(#,^)1033 Cannon Bridge Rd, Cordova, SC 29039Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/27/2044198.4  198.4  223.5  0.07 %
BB Services, LLC(#,^)22413 Barton Rd, Grand Terrace, CA 92313Truck TransportationTerm LoanPrime plus 2.75%6/27/2029105.9  105.9  89.9  0.03 %
Shooter's Gun Club, LLC(#)2221 Pelham Pkwy, Pelham, AL 35124Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/27/2030179.3  179.3  151.4  0.05 %
Moon Landscaping, Inc, Moon Group, Inc moon Nursery, Inc, Moon Site(#,^)183 Russ St., San Francisco, CA 94103Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%6/27/20291,169.5  1,169.5  1,107.9  0.34 %
Crescent Event Productions, Inc(#,^)4120 7th Ave, Kenosha, WI 53140Administrative and Support ServicesTerm LoanPrime plus 2.75%6/27/2029327.4  327.4  278.5  0.09 %
Selective Automotive & Accessories Group, Inc(#,^)4 Mechanic St., Natick, MA 01760Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/26/2029233.7  233.7  207.8  0.06 %
28
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Kaz Ramen, L.L.C.(#,^)3542 Glendale Ave, Toledo, OH 43614Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/202921.0  21.0  17.2  0.01 %
Tekoa Enterpises, Inc(#,^)8101 Miller Rd 2, Houston, TX 77049Truck TransportationTerm LoanPrime plus 2.75%6/26/202953.0  53.0  46.3  0.01 %
Soft Touch Tissue & Paper LLC(#,^)1213 W Mallory Ave, Milwaukee, WI 53221Paper ManufacturingTerm LoanPrime plus 2.75%6/26/2044231.9  231.9  261.2  0.08 %
Perfect Water LLC(#,^)1491 Hammond, Bangor, MA 4401Nonstore RetailersTerm LoanPrime plus 2.75%6/26/202967.8  67.8  61.2  0.02 %
RWBB Enterprises, LLC(#,^)1115 S Homer Blvd, Sanford, NC 27330Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/204475.0  75.0  80.7  0.02 %
JFK Transportation Inc(#,^)137 3rd St, Brooklyn, NY 11231Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/26/202997.9  97.9  84.0  0.03 %
Child Care Ventures LLC dba Childcare Adventures ELC(#,^)6655 Country Rd 32, Norwich, NY 13815Social AssistanceTerm LoanPrime plus 2.75%6/26/2044145.5  145.5  144.0  0.04 %
All-City Towing LLC, Jeffrey James Piller(#,^)125 Venture Blvd, Spartanburg, SC 29306Support Activities for TransportationTerm LoanPrime plus 2.75%6/26/2029378.6  378.6  350.5  0.11 %
Lynx Inspection Technologies LLC(#,^)1115 S. Horner Blvd, Sanford, NC 27330Support Activities for MiningTerm LoanPrime plus 2.75%6/26/2044569.3  569.3  641.2  0.20 %
Soft Touch Tissue & Paper LLC(#)6 Venture Ste 305, Irvine, CA 92618Paper ManufacturingTerm LoanPrime plus 2.75%12/26/2029109.2  109.2  113.2  0.03 %
Paradise Towing & Recovery Inc(#,^)1924 Ruffin Mill Rd, Colonial Heights, VA 23834Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/202999.5  99.5  93.3  0.03 %
Vanchoc Transport Inc(#,^)34683 Nova Dr, Clinton Twp, MI 48035Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/25/202940.7  40.7  36.6  0.01 %
Spartan Technology Solutions, Inc(#,^)3273 South John Young Pkwy, Kissimmee, FL 34746Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/2044481.8  481.8  489.1  0.15 %
567 Logistics, LLC(#,^)63 Hebron Ave, Ste F, Glastonbury, CT 06033Support Activities for TransportationTerm LoanPrime plus 2.75%6/25/202946.8  46.8  40.2  0.01 %
Worldwide Capital Management Inc.(#,^)2766 Bay Rd, Redwood City, CA 94063Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/2029135.6  135.6  110.0  0.03 %
Professional Tire Limited Liability Company(#,^)3212 Alex Trask Drive, Castle Hayne, NC 28429Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/2044137.6  137.6  142.5  0.04 %
Paradise Towing & Recovery Inc(#,^)295 E WASHINGTON AVE, SUNNYVALE, CA 94086Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/204472.5  72.5  81.6  0.02 %
Krsto, LLC dba Italian Butter Breadsticks(#,^)1 Grace Cove Rd, New Shoreham, RI 02807Food ManufacturingTerm LoanPrime plus 2.75%6/24/2044188.1  188.1  200.1  0.06 %
Sweets By Karla LLC(#,^)1063 Carousel Rd, Lake Arrowhead, CA 92352Food ManufacturingTerm LoanPrime plus 2.75%6/24/202912.0  12.0  9.8  — %
Scissor Kids Inc(#,^)930 Robtrice Ct, Edmond, OK 73430Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/24/202915.2  15.2  12.6  — %
Peninsula Self Defense LLC(#,^)18201 Von Karman,Suite 300, Irvine, CA 92612Educational ServicesTerm LoanPrime plus 2.75%6/21/20294.9  4.9  4.2  — %
Port Diesel L.L.C.(#)34565 Ranch Drive, Brownsville, OR 97327Repair and MaintenanceTerm LoanPrime plus 6.5%6/21/202911.8  11.8  11.2  — %
29
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Small Batch Creations Inc. dba The Office Bar & Grill(#,^)10201 McKalla Place, Austin, TX 78758Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/202955.9  55.9  45.3  0.01 %
LuLuBelle's Mountain Banana Bread LLC(#)6949 Wall Triana Hwy, Madison, AL 35757Food ManufacturingTerm LoanPrime plus 2.75%4/21/2045181.8  181.8  197.2  0.06 %
William Rose Inc(#,^)704 N Liberty St., Shamokin, PA 17872Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/21/204486.3  86.3  78.5  0.02 %
Campuscuts LLC(#)N6630 WI-49, Weyauwega, WI 54983Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/21/20297.1  7.1  6.7  — %
Gribben & Associates, Inc(#,^)6570 W Highway 67, Cleburne, TX 76033Truck TransportationTerm LoanPrime plus 2.75%6/21/2029674.9  674.9  547.3  0.17 %
Central Texas Hygiene, LLC(#,^)110 E 59th St ,31st floor, New York, NY 10022Administrative and Support ServicesTerm LoanPrime plus 2.75%6/20/202982.3  82.3  66.8  0.02 %
AA Horseplay, LLC(#)401 N Kuner Rd, Brighton, CO 80601Animal Production and AquacultureTerm LoanPrime plus 6.5%6/20/202911.8  11.8  11.2  — %
Zion Motors Inc(#,^)3981 E Dunrobin Dr., Springfield, MO 65809Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/19/204459.9  59.9  61.7  0.02 %
International Institute for Learning Inc.(#,^)9858 W Sample Rd, Coral Springs, FL 33065Educational ServicesTerm LoanPrime plus 2.75%6/19/2029280.6  280.6  227.6  0.07 %
Providence Management Environmental, LLC, Tindol Energy Group, LLC(#,^)501 Jackson St, Camden, NJ 08104Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/19/2029259.7  259.7  256.7  0.08 %
Beck's Pub & Grill LLC(#,^)3830 Doctor M.L.K. Jr Blvd, Anderson, IN 46013Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/204469.0  69.0  74.3  0.02 %
Bader Furniture Company Inc.(#,^)3888 Lightner Rd, Vandalia, OH 45377Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%6/19/20297.0  7.0  7.2  — %
American Demolition, Inc(#,^)2001 W. Southlake Blvd Ste 143, Southlake, TX 76092Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/17/2029175.3  175.3  181.1  0.06 %
JLM Consulting LP(#,^)2211 E Highland Ave Ste 130, Phoenix, AZ 85016Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/17/202918.5  18.5  15.0  — %
Bonadi Inc. dba Polished Salon(#)199-211 Central Ave, Orange, NJ 07080Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/17/202911.8  11.8  11.2  — %
3 Rusty Nails, LLC dba The Gathering Place at 3 Rusty Nails(#,^)4210 College St., Beaumont, TX 77707Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%6/14/204486.3  86.3  93.5  0.03 %
Kego 2 LLC dba Jon Smith Subs 80025(#,^)4210 College St., Beaumont, TX 77707Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/14/2029100.4  100.4  85.2  0.03 %
Comarco Quality Pork Products Inc, Comarco Pork Products of FL LLC(#,^)4299 South 2675 West, Roy, UT 84067Food ManufacturingTerm LoanPrime plus 2.75%6/14/2029290.2  290.2  259.8  0.08 %
A & S Services LLC dba Kona Ice of Troy(#,^)1514 W. 33rd St., Chicago, IL 60608Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/14/204444.4  44.4  47.6  0.01 %
Law Office of Paula Padilla PLLC(#)15922 Eldorado Pkwy, Ste 500-1579, Frisco, TX 75035Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/13/20294.7  4.7  4.5  — %
Picon Motors LLC dba The New Young's Motors(#,^)3739 E Ridgeway Rd, Orange, CA 92867Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/12/2029218.5  218.5  213.9  0.07 %
30
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
GT Performance Plus Inc(#,^)15825-15827 Hawthorne Blve, Lawndale, CA 90260Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/11/204497.7  97.7  105.0  0.03 %
Ivesters Transportation, Inc(#,^)1118 Thornberry Dr, Clarksville, TN 37043Truck TransportationTerm LoanPrime plus 2.75%6/11/2029233.6  233.6  198.6  0.06 %
GT Performance Plus Inc(#,^)7130 Crater Lake Highway, White City, OR 97503Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/11/202971.4  71.4  59.1  0.02 %
Archer Cleaners Inc(#)127 East King St., Martinsburg, WV 25401Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/10/202911.8  11.8  11.2  — %
Independent Transport, LLC dba Independent Water(#,^)195 Terrace Place, Apt. 2, Brooklyn, NY 11218Nonstore RetailersTerm LoanPrime plus 2.75%6/10/2029191.1  191.1  173.8  0.05 %
Smith and Son Plumbing, LLC(#,^)749 8th St., Washington, DC 20003Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/10/202977.2  77.2  66.5  0.02 %
Neely Motorsports, Inc dba Earl's Store #1;Earl's Performance Plumbing(#,^)3097 24th Ave, Hudsonville, MI 49426Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/7/2044238.4  238.4  252.3  0.08 %
Johnny's Boy LLC(#,^)4261 Business Drive, Cameron Park, CA 95682Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/7/204499.9  99.9  104.7  0.03 %
Throop Family Holding Inc dba Klamath Basin Metals and Supply, dba Rog(#,^)24870 Burnt Pine Drive, Bonita Springs, FL 34134Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/7/202937.4  37.4  32.9  0.01 %
J&A Elliott Company(#,^)4748 Hopyard Rd, Pleasanton, CA 94588Nonstore RetailersTerm LoanPrime plus 2.75%6/7/20299.8  9.8  10.1  — %
Allison K. Chipak dba Still Photography(#)2600 Brookwood Way Drive, Unit 311, Rolling Meadows, IL 60008Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/6/202911.8  11.8  11.2  — %
Skin Beauty Bar Inc(#,^)575 Underhill Blvd, Ste 216, Syosset, NY 11791Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/6/20294.9  4.9  4.0  — %
Jamestown Quick Stop LLC(#,^)304 1/2 Main St., Edgefield, SC 29824Food and Beverage StoresTerm LoanPrime plus 2.75%6/5/204468.7  68.7  70.7  0.02 %
Preferred Manufacturing Services Inc(#,^)1450 Oakbrook Dr, Norcross, GA 30093Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/5/2029444.4  444.4  459.0  0.14 %
Oasis Senior Advisors Franchise Systems, LLC(#,^)1307 27th St. Apt B, North Bergen, NJ 07047Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)Term LoanPrime plus 2.75%6/4/2029292.3  292.3  291.3  0.09 %
Italian Heritage Tile and Stone Inc(#,^)1698 SW Pancoast St., Port St Lucie, FL 34987Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/4/202981.9  81.9  67.5  0.02 %
Evoke Growth Advisory LLC(#,^)28803 US-6, Rifle, CO 81650Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/3/20297.0  7.0  5.7  — %
Morey Publishing LLC(#,^)486 Vance St., Forest City, NC 28043Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/31/202958.1  58.1  47.7  0.01 %
V & M Transportation LLC(#,^)2-255555 Kaumualii Hwy, Kalaheo, HI 96741Truck TransportationTerm LoanPrime plus 2.75%5/31/202912.2  12.2  9.9  — %
G.S.A.T. Restoration Inc. dba Paul Davis Restoration & Remodeling of G(#,^)7707 S IH 35 Frontage Rd #730, Austin, TX 78744Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/31/2029109.2  109.2  91.9  0.03 %
31
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Martin Inventory Management, LLC(#,^)2715 Palomino Circle, La Jolla, CA 92037Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/31/202946.5  46.5  47.0  0.01 %
Aspen Welding LLC(#,^)364 Parsippany Rd, Unit 7-B, Parsippany, NJ 07054Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%5/30/2044403.5  403.5  426.4  0.13 %
SSD Designs, LLC(#,^)1885 Briargate Pkwy, Space D-413, Colorado Springs, CO 80920Chemical ManufacturingTerm LoanPrime plus 2.75%5/30/2044418.7  418.7  464.0  0.14 %
Inside & Out Maintenance LLC(#,^)5926 Vinings Vintage Way, Mableton, GA 30126Administrative and Support ServicesTerm LoanPrime plus 2.75%5/30/202992.9  92.9  76.1  0.02 %
AGR, Inc(#,^)2820 US Hwy 98 N, Lakeland, FL 33805Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/2044774.7  774.7  853.0  0.26 %
Brooklyn Breakfast Shop LLC(#,^)46 Cherry St., Milton, VT 5468Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/20294.6  4.6  4.1  — %
Canela Media Inc(#,^)705 E Brookwood PL, Valdosta, GA 31601Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/29/2029110.4  110.4  94.8  0.03 %
PD Financial LLC(#,^)120 Corporate Ln, New Bern, NC 28562Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%5/28/204448.3  48.3  51.1  0.02 %
SV Enterprise LLC dba Haagen-Dazs(#,^)1003 Bishop St., Honolulu, HI 96813Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/24/202986.2  86.2  70.0  0.02 %
2820 US HWY 98 N LLC dba Total Package Car Wash(#)1901 N Federal Highway, Ste 212, Pompano Beach, FL 33062Repair and MaintenanceTerm LoanPrime plus 2.75%5/23/2029124.1  124.1  125.3  0.04 %
MCM Design LLC(#)131 East Trinity Place, Decatur, GA 30030Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/23/20299.4  9.4  8.9  — %
Top Notch Roofing, Inc(#,^)2464 US-29, Pensacola, FL 32505Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/23/2029114.3  114.3  96.9  0.03 %
McGuckin & Pyle Inc(#,^)18 West Chestnut St.,Unit 2F, Chicago, IL 60610Machinery ManufacturingTerm LoanPrime plus 2.75%5/23/2044303.7  303.7  321.2  0.10 %
Clowers Trucking By Faith LLC(#)365 Lowe's Drive, Ste H, Danville, VA 24540Truck TransportationTerm LoanPrime plus 6.5%5/23/202911.6  11.6  10.9  — %
Gratitude Training, LLC(#,^)430 a/k/a 450 South Highway 165, Branson, MO 65616Administrative and Support ServicesTerm LoanPrime plus 2.75%5/22/202969.7  69.7  56.7  0.02 %
ES&A, INC., A LAW CORPORATION(#,^)1030 Gettysburg Ave, Clovis, CA 93161Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/22/2029104.6  104.6  86.0  0.03 %
Bloomquist Communications Inc. dba FastSigns 42501(#,^)208 East Main St., Elma, WA 98541Miscellaneous ManufacturingTerm LoanPrime plus 2.75%5/22/202913.9  13.9  11.5  — %
Anchor Up Fitness and Nutrition, LLC(#,^)6903 Lakegreen Ct, Louisville, KY 40291Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/21/202918.8  18.8  16.9  0.01 %
Kappa Investments LLC dba Buddy's Home Furnishings(#,^)10235 W Roosevelt Rd, Westchester, IL 60154Rental and Leasing ServicesTerm LoanPrime plus 2.75%5/17/2029403.3  403.3  329.0  0.10 %
Covalent Holding LLC(#,^)302 E. Millitary Hwy U1122, Brackettville, TX 78832Nonstore RetailersTerm LoanPrime plus 2.75%5/17/2029225.9  225.9  207.3  0.06 %
BD Branson Victorian LLC dba Branson Surrey Inn(#,^)119 Hope St., Bristol, RI 02809AccommodationTerm LoanPrime plus 2.75%5/17/2029237.4  237.4  245.2  0.07 %
32
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Zeb, LLC dba Papa John's(#,^)26 Cooper Rd, Byhalia, MS 38611Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/16/202946.5  46.5  38.4  0.01 %
AMP Trucking Inc(#,^)5903 Seminole Blvd, Seminole, FL 33772Truck TransportationTerm LoanPrime plus 2.75%5/16/2029242.5  242.5  196.6  0.06 %
Cut To The Chase 502 LLC(#,^)221 N Main St, Kingsfisher, OK 73750Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/16/20293.1  3.1  2.8  — %
CJNR LLC dba Chenney Bear Cafe, Elma Lodge & Suites, Parkhurst Motel,(#,^)617 Tennessee Ave, Charleston, WV 25302AccommodationTerm LoanPrime plus 2.75%5/16/202917.4  17.4  18.0  0.01 %
The Lobster Pot Inc(#,^)1250 NW 7th St. Ste 201, Miami, FL 33125Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/10/2044363.2  363.2  392.8  0.12 %
Two Pie Lovers LLC dba Pizza Outpost(#,^)3111 S Valley View Blvd, Las Vegas, NV 89102Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/10/204443.1  43.1  46.3  0.01 %
Crystal D. Walls dba Crystal's Cleaning Service(#)1341 Brooks St. Unit D, Ontario, CA 91762Administrative and Support ServicesTerm LoanPrime plus 6.5%5/9/20299.4  9.4  8.9  — %
Aloha To Go LLC(#,^)6507 Jester Blvd, Ste #107, Austin, TX 78750Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/202914.4  14.4  11.7  — %
Blue Country Firearms LLC(#,^)150 Upper Joe Creek Rd, Manson, WA 98831Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/8/204420.7  20.7  20.6  0.01 %
Folklore Music Exchange LLC(#,^)312 79th Ave North, Myrtle Beach, SC 29572Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%5/6/20294.8  4.8  3.9  — %
NYM Solutions Inc.dba NYM Solutions, Inc(#)125 Bradley Rd, Woodbridge, CT 06525Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%5/6/202911.8  11.8  11.1  — %
Global Enterprises LLC dba Verdi Pizza(#,^)1619 Malon Bay Drive, Orlando, FL 32828Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/3/202919.4  19.4  15.7  — %
EPIFAB,LLC(#,^)1205 Johnson Ferry Rd Ste 124, Marietta, GA 30068Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%5/3/202919.8  19.8  17.4  0.01 %
Art Amore Studios, LLC(#,^)475 West 147th St, Midlothian, IL 60445Educational ServicesTerm LoanPrime plus 2.75%5/3/20295.2  5.2  4.2  — %
Mark Garvin dba Tipsy Canyon Winery(#,^)2781 Saturn St. Ste F, Brea, CA 82821Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%5/3/2044104.7  104.7  117.8  0.04 %
Life View Prenatal Imagery, LLC(#,^)15280 NW 79th Ct Ste 109, Miami Lakes, FL 33016Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/3/20295.6  5.6  4.8  — %
Modern Trousseau, LLC(#,^)117 Country Village Drive, Raceland, LA 70394Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%5/1/2029290.5  290.5  279.4  0.09 %
Disability Resolution P.A.(#)1619 Roberts Drive SE, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%4/30/20292.8  2.8  2.6  — %
DeVega Juice Co, - East Cobb, LLC dba Clean Juice Johnson Ferry(#,^)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/202959.5  59.5  58.0  0.02 %
Midlothian Hardware, Inc dba Grills True Value(#,^)15105 John J Delaney Drive, Ste D 170, Charlotte, NC 28277Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%4/29/202937.0  37.0  38.2  0.01 %
Benevolent International Inc(#,^)196 N. Holiday Rd, Miramar Beach, FL 32550Administrative and Support ServicesTerm LoanPrime plus 2.75%4/26/202972.7  72.7  59.0  0.02 %
33
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Pellegrin Marine Transportation, LLC(#,^)196 N. Holiday Rd, Miramar Beach, FL 32550Support Activities for TransportationTerm LoanPrime plus 2.75%4/26/2029119.4  119.4  104.6  0.03 %
Sona USA, Inc(#,^)1882 Capital Circle NE, Ste 104, Tallahassee, FL 32308TelecommunicationsTerm LoanPrime plus 2.75%4/26/2029152.4  152.4  134.5  0.04 %
ASM Partners LLC(#,^)6957 W Broward Blvd, Plantation, FL 33317Nonstore RetailersTerm LoanPrime plus 2.75%4/26/2029225.6  225.6  205.1  0.06 %
Jones Roger Sherman Inn, Inc.(#,^)4320 Anthony Court Stes 1,2,3, Rocklin, CA 95677Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/25/2029135.1  135.1  139.6  0.04 %
La Dolce Vita LLC.(#,^)74 Roosevelt St., Pequannock Township, NJ 07440Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/25/2044463.8  463.8  506.3  0.15 %
La Dolce Vita, LLC, La Dolce Vita Watersports LLC, LDV Golf Cart & Bil(#,^)1083 North Broadway, North Massapequa, NY 11758Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/25/2029461.9  461.9  404.0  0.12 %
Quality Living Medical Alert, LLC(#,^)901 W Braker Lane, Austin, TX 78758Social AssistanceTerm LoanPrime plus 2.75%4/24/202950.8  50.8  46.0  0.01 %
All My Best Inc.(#,^)10161 W Park Run Drive, Las Vegas, NV 89145Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%4/19/202957.7  57.7  49.4  0.02 %
ER & DC McPherson Holdings, LLC(#,^)8063 Jericho Turnpike, Woodbury, NY 11797Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/19/202944.8  44.8  36.9  0.01 %
2Choice2Friends dba 2 N 1 Salad Bar and Grill(#)2300 Levit Rd, Lorain, OH 44052Food Services and Drinking PlacesTerm LoanPrime plus 6.5%4/17/202911.7  11.7  11.0  — %
Bottles on Broadway, LLC(#,^)1205 38th Ave North, Myrtle Beach, SC 29577Food and Beverage StoresTerm LoanPrime plus 2.75%4/17/2029118.9  118.9  99.0  0.03 %
Modern Demo & Services LLC(#,^)8728 Tireman Ave, Detroit, MI 48204Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/2029115.5  115.5  95.5  0.03 %
Expert Building Services LLC(#,^)10017 Pebble Beach Drive, St. Louis, MO 63114Administrative and Support ServicesTerm LoanPrime plus 2.75%4/17/202918.8  18.8  15.3  — %
Rello, Inc. dba ID Salon(#)367 Pine Island Rd, North Fort Myers, FL 33903Personal and Laundry ServicesTerm LoanPrime plus 6.5%4/17/20295.6  5.6  5.3  — %
Cormac Enterprises, Inc(#,^)17790 State Rd 54, Lutz, FL 33458Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/16/202920.8  20.8  17.2  0.01 %
Pranamji Inc dba Ohara's Beverage Spot(#,^)19972 Willowin Farm Lane, Purceville, VA 20132Food and Beverage StoresTerm LoanPrime plus 2.75%4/16/204446.5  46.5  47.5  0.01 %
Bill Berger LLC(#,^)1761 Nostrand Ave, Brooklyn, NY 11226Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%4/12/20298.3  8.3  6.7  — %
Samco Food Corp dba C-Town Supermarket(#,^)3563 South River Terrace, Edgewater, MD 21037Food and Beverage StoresTerm LoanPrime plus 2.75%4/12/202992.4  92.4  74.9  0.02 %
P. Moss Enterprises, LLC dba Garage Experts-Mid Atlantic(#,^)7926 Santa Fe Drive, Overland Park, KS 66204Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/202940.6  40.6  34.6  0.01 %
Engineered Edibles, LLC(#,^)512 Verret St., New Orleans, LA 70114Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/12/20298.3  8.3  6.7  — %
Southern Gulf Construction, Inc.(#,^)1155 15th St NW, Washington, DC 20005Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/2029102.8  102.8  97.0  0.03 %
34
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
CK Heating and Cooling LLC(#,^)9001 Wentworth Springs Rd, Georgetown, CA 95634Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/202918.9  18.9  15.4  — %
Gilpin Enterprises, LLC dba Jon Smith Subs(#,^)1256 Indian Head Rd, Toms River, NJ 08755Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/12/202973.2  73.2  61.7  0.02 %
J.T. ONeill Company, LLC(#,^)6713 Biscay Hbr, San Antonio, TX 78249Real EstateTerm LoanPrime plus 2.75%4/12/20299.0  9.0  7.3  — %
Maxiflex LLC(#,^)28201 Date Palm Drive, Cathedral City, CA 92234Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%4/11/202957.7  57.7  59.6  0.02 %
VRGE Strategies LLC(#,^)1101 NW 12TH Ave, Ava, MO 65608Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/10/2029125.6  125.6  101.8  0.03 %
Georgetown Milling Co, LLC(#,^)4043 Geer Rd, Hughson, CA 95326Wood Product ManufacturingTerm LoanPrime plus 2.75%4/9/202911.8  11.8  10.1  — %
FRAJOVI Urban Air, LLC dba Urban Air Trampoline& Adventure Park(#,^)3100 Drewsky Lane Unit 108, Fort Mills, SC 29715Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%1/8/2030557.3  557.3  558.5  0.17 %
Marnon Enterprise LLC(#,^)40 Sandra Drive, South Windsor, CT 06074Administrative and Support ServicesTerm LoanPrime plus 2.75%4/5/20294.4  4.4  3.6  — %
Bose and Avinder, Inc.and Carmel and Preet Inc(#,^)6895 N. 9th Ave Ste B, Pensacola, FL 32504Gasoline StationsTerm LoanPrime plus 2.75%4/5/202953.1  53.1  54.9  0.02 %
Peak Performance Associates LLC dba Nova Hypnosis and Wellnes(#,^)3150 West Park Drive, Burnsville, MN 55306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/202955.1  55.1  44.7  0.01 %
Turtle Shirts, LLC(#,^)1112 N Main St, Manteca, CA 95336Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/29/202949.3  49.3  41.2  0.01 %
Complete Care IT LLC(#,^)4900 Hopyard Rd, Pleasanton, CA 94588Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/202948.2  48.2  39.2  0.01 %
La Favorita Radio Network(#,^)4458 West Vernor Hwy, Detroit, MI 48209Broadcasting (except Internet)Term LoanPrime plus 2.75%3/29/2029344.0  344.0  293.7  0.09 %
J Brothers Enterprises, LLC(#,^)7219 Silver Mist Ave, North Chesterfield, VA 23237Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/29/2044634.1  634.1  633.0  0.19 %
Ren Investment Group Inc dba True Positon Manufacturing(#,^)3728 W McKinley Ave, Fresno, CA 93772Machinery ManufacturingTerm LoanPrime plus 2.75%3/29/2029794.5  794.5  661.0  0.20 %
EJ & James Transport LLC(#,^)9371 Jackson Rd, Sacramento, CA 95826Truck TransportationTerm LoanPrime plus 2.75%3/29/20298.7  8.7  7.8  — %
Bhatti LLC dba Auntie Ann's & Bhatti LLC 1(#,^)229 Medical Park Rd, Ste 310, Mooresville, NC 28117Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/2029151.3  151.3  122.7  0.04 %
Reliable Power Group Inc. dba Batteries + bulbs Pensacola(#,^)2140 44th St SE, Ste 201, Grand Rapids, MI 49508Repair and MaintenanceTerm LoanPrime plus 2.75%3/29/202991.8  91.8  74.7  0.02 %
Hamsons Inc.(#,^)13031 S Western Ave, Blue Island, IL 60406Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%3/29/2029172.1  172.1  139.6  0.04 %
Royalty Freight Inc.(#,^)7190 SW 87th Ave Ste 203, Miami, FL 33173Truck TransportationTerm LoanPrime plus 2.75%3/29/2029392.6  392.6  351.9  0.11 %
35
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Key HR Associates, Inc dba Parents Choice for Kids(#,^)109 W Fern St., Tampa, FL 33604Social AssistanceTerm LoanPrime plus 2.75%3/29/2044446.1  446.1  452.6  0.14 %
Stillwater Ventures, LLC(#,^)128 Cowesett Ave, West Warwick, RI 2893Nonstore RetailersTerm LoanPrime plus 2.75%3/29/2029381.9  381.9  349.7  0.11 %
Pizzaplex L3C(#,^)8272 W. Sunset Blvd, Los Angeles, CA 90048Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/202941.1  41.1  34.4  0.01 %
Bayco Enterprises, Inc(#,^)10241 Metro Pkwy# 108, Ft Myers, FL 33966Gasoline StationsTerm LoanPrime plus 2.75%3/29/2044195.4  195.4  219.8  0.07 %
Raven's Place LLC(#,^)10670 Parkside Drive, Knoxville, TN 37922Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/2044675.9  675.9  696.4  0.21 %
Bright Freight Solution, LLC(#,^)4801 South University Drive Ste 125, Davie, FL 33328Truck TransportationTerm LoanPrime plus 2.75%3/29/20291,106.2  1,106.2  965.3  0.29 %
Iredell Oral & Facial Surgery, P.C. dba Johnson Oral Surgery(#,^)1485 Chain Bridge Rd, Ste 304 & 305, McLean, VA 22101Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/2044820.8  820.8  822.7  0.25 %
NuBe Business Group LLC(#,^)18427 New Kent Hwy, Barhamsville, VA 23011Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/204440.3  40.3  45.3  0.01 %
Felipe Antonio Del Valle M.D. P.A.(#,^)202 S First St., Wakeeney, KS 67672Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202913.8  13.8  11.2  — %
StillBasi Holdings, Inc. dba Buxton Auto Transport(#,^)301 Commerce Drive, Elizabethtown, KY 42701Truck TransportationTerm LoanPrime plus 2.75%3/29/2029275.4  275.4  239.2  0.07 %
Knoxville Room Service(#,^)4720 NW 2nd Ave Unit D104 and Unit D-105, Boca Raton, FL 33498Food and Beverage StoresTerm LoanPrime plus 2.75%3/29/20296.2  6.2  5.3  — %
Outtasight Careers, LLC dba Gecko Hospitality(#,^)2414 W Battlefield Ste H, Springfield, MO 65807Administrative and Support ServicesTerm LoanPrime plus 2.75%3/29/202947.7  47.7  38.7  0.01 %
Cleland Pharmacy LLC(#,^)900 West Northern Lights Blvd, Anchorage, AK 99503Health and Personal Care StoresTerm LoanPrime plus 2.75%3/28/202920.7  20.7  21.3  0.01 %
Planet X Tobacco & Gift, LLC(#,^)1220 Broadcasting Rd, Ste 202, Wyomissing, PA 19610Miscellaneous Store RetailersTerm LoanPrime plus 2.75%3/28/2044280.9  280.9  303.7  0.09 %
J.C. Pallet Company, Inc.(#,^)5335 E. Kaviland Ave, Fresno, CA 93725Wood Product ManufacturingTerm LoanPrime plus 2.75%3/28/2029413.1  413.1  384.5  0.12 %
Custom Vinyl Products LLC(#,^)260 Enterprise Drive, Newport News, VA 23603Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/28/2044995.4  995.4  1,039.4  0.32 %
Four Seasons Laser Center Inc.(#,^)3949 New Rd, Youngstown, OH 44515Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/28/202913.8  13.8  13.0  — %
RG Productions LLC(#,^)206 Rohrerstown Rd, Lancaster, PA 17603Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/28/2029142.6  142.6  127.0  0.04 %
GS Bath Inc(#,^)23010 Highland Knolls Blvd, Ste G, Katy, TX 77494Truck TransportationTerm LoanPrime plus 2.75%3/28/2029286.9  286.9  254.3  0.08 %
Cocomo Joe's LLC(#,^)1415 W Anderson St., Stockton, CA 95206Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/20293.2  3.2  2.9  — %
PA Sobol Partners LLC dba Sobal(#,^)674 LA- 8, Sicily Island, LA 71368Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/28/202947.1  47.1  40.0  0.01 %
Skaggs RV Outlet ,LLC(#,^)2543 Eliot St., Denver, CO 80211Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/28/2029229.4  229.4  236.6  0.07 %
36
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
DC AG, LLC dba Big B Sales(#,^)2880 Carol Rd, East York, PA 17402Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/27/2044577.9  577.9  589.6  0.18 %
Ocean Trans LLC and Dehal Trucking LLC(#,^)317 N Farview Ave, Paramus, NJ 07652Truck TransportationTerm LoanPrime plus 2.75%3/27/202968.8  68.8  70.9  0.02 %
Cinco Fit LLC dba Cinco Fit(#,^)315 Sylamore Ave, Mountain View, AR 72560Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/27/2029151.5  151.5  122.6  0.04 %
Danielle Vance LPC, LLC dba Danielle Vance MA, LPC(#,^)2454 N East Side Highway,, Elkton, VA 22827Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/27/20295.2  5.2  4.2  — %
District 5 Boutique LLC(#,^)350 15th St. NW, Huron, SD 57350Nonstore RetailersTerm LoanPrime plus 2.75%3/26/2029114.7  114.7  92.9  0.03 %
Heritage Hills Athletics 1, LLC and Heritage Hills Athletics 1, LLC(#,^)489 Hamilton Rd, Jacksonville, OR 97530Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/26/20441,228.8  1,228.8  1,280.1  0.39 %
Virginia Industrial Plastics, Inc.(#,^)2454 North East Side Highway, Elkton, VA 22827Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/22/2044291.5  291.5  327.5  0.10 %
Skyways, LTD(#,^)21 S Hope Chapel Rd, Jackson, NJ 08527Support Activities for TransportationTerm LoanPrime plus 2.75%3/22/2029757.5  757.5  620.6  0.19 %
Gary Krause dba Gary Krause Landscaping & Design(#,^)1116 E Main St, Richmond, VA 23219Administrative and Support ServicesTerm LoanPrime plus 2.75%3/22/20295.5  5.5  4.9  — %
J & C May Properties, LLC(#,^)8704 Grand Ave, Billings, MT 59106Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/22/20441,114.5  1,114.5  1,064.5  0.33 %
Virginia Industrial Plastics, Inc.(#,^)2320 138TH ST, Blue Island, IL 60406Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/22/2029248.5  248.5  256.3  0.08 %
The Karate Dojo LLC(#,^)2320 138th St., Blue Island, IL 60406Educational ServicesTerm LoanPrime plus 2.75%3/21/20294.1  4.1  3.3  — %
Dependable Lawn Care, Inc.(#,^)5979 NW 151st St, Miami Lakes, FL 33014Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/21/2029479.8  479.8  420.2  0.13 %
Pitman Holding LLC(#,^)9400 South Saginaw St., Unit 1, Grand Blanc, MI 48439Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/21/20296.9  6.9  6.0  — %
American Trails Transport, LLC(#,^)9400 South Saginaw St., Unit 1, Grand Blanc, MI 48439Truck TransportationTerm LoanPrime plus 2.75%3/21/202950.5  50.5  44.3  0.01 %
Dependable Lawn Care, Inc.(#,^)1 Williams Lane, Old Saybrook, CT 06475Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/21/2044187.2  187.2  206.5  0.06 %
Michigan Neurosurgical Institute P.C.(#,^)605 W Main St, Oxford, KS 67119Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/20/2029166.4  166.4  135.5  0.04 %
Mega Trucking LLC and Olyimpian Industries LLC(#,^)6505 Shiloh Rd,Units 300,310 and 320, Alpharetta, GA 30005Truck TransportationTerm LoanPrime plus 2.75%3/20/2029366.9  366.9  333.1  0.10 %
Sound Manufacturing Inc(#,^)2917 1st Ave SE, Cedar Rapids, IA 52402Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/20/202945.9  45.9  37.1  0.01 %
37
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Michigan Neurosurgical Institute, P.C.,,Optical Spine,LLC, MNI Great L(#,^)23077 Greenfield Rd, Southfield, MI 48075Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/20/2044349.0  349.0  353.1  0.11 %
Frontline Selling LLC(#,^)137 3rd St, Brooklyn, NY 11231Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/19/2029286.9  286.9  295.8  0.09 %
Game Station, Inc.(#,^)701 Addison Rd, Painted Post, NY 14870Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/19/2029241.0  241.0  211.3  0.06 %
Marvellous Print & Ship LLC(#,^)1655 E Warm Springs Rd, Las Vegas, NV 89119Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/19/20293.1  3.1  2.5  — %
B & W Towing LLC(#,^)8670 Wilshire Blvd, Beverly Hills, CA 90211Support Activities for TransportationTerm LoanPrime plus 2.75%3/15/202952.8  52.8  54.2  0.02 %
Vanchoc Transport Inc(#,^)2775 Burris Rd, Davie, FL 33314Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/15/202980.3  80.3  65.0  0.02 %
Stepping Stones Children's Academy LLC(#,^)510 South Batavia Ave, Batavia, IL 60510Social AssistanceTerm LoanPrime plus 2.75%3/15/2044368.6  368.6  388.5  0.12 %
Panetcarne Inc.dba Jersey Mike's Subs Greenfield(#,^)5467 W San Fernando Rd, Los Angeles, CA 90039Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/202985.4  85.4  71.3  0.02 %
Screening Services Group, LLC(#,^)14252 W 44th Ave Unit F, Golden, CO 80403Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/14/2029258.4  258.4  217.5  0.07 %
Space Express, LLC(#,^)6919 Oak Ridge Commerce Way, Austell, GA 30168Truck TransportationTerm LoanPrime plus 2.75%3/12/2029133.1  133.1  111.7  0.03 %
Mill Creek Early Childhood Program LLC(#,^)76 Ranch Rd a/k/a 3695 Movie Ranch Rd, Duck Creek, UT 84762Social AssistanceTerm LoanPrime plus 2.75%8/11/202958.3  58.3  47.4  0.01 %
Kalloren Provel LLC(#,^)5137 Clareton Dr Ste 100,110 & 120, Agoura Hills, CA 91301Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/8/2044278.9  278.9  293.9  0.09 %
Precise Air Systems, Inc(#,^)19138 Molalla Ave, Oregon City, OR 97045Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/8/2029240.0  240.0  197.9  0.06 %
Alpine Remediation, Inc, T & M Holdings, LLC(#,^)15101 West McNichols Rd, Detroit, MI 48235Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/8/202980.4  80.4  72.1  0.02 %
D & S Village Hardware LLC dba Cedar Mountain Country Store & Samantha(#,^)487 Elizabeth Lake Rd, Waterford, MI 48328Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/8/2044198.3  198.3  214.1  0.07 %
SG Welch Inc dba Sparks Auto Service(#,^)2200 N Stonington Ave #120, Hoffman Estates, IL 60169Repair and MaintenanceTerm LoanPrime plus 2.75%3/8/202957.4  57.4  47.8  0.01 %
Wildflour Bakery & Cafe LLC(#,^)3361 Dayton Xenia Rd, Beavercreek, OH 45432Food ManufacturingTerm LoanPrime plus 2.75%3/8/202980.3  80.3  65.0  0.02 %
Seeds of Knowledge Creative Learning Center LLC(#,^)727 Page Ave., Staten Island, NY 10307Social AssistanceTerm LoanPrime plus 2.75%3/7/204422.1  22.1  23.8  0.01 %
Doble Rentals, L.L.C , Doble Rentals 2, LLC, Doble Rentals 3, LLC(#,^)20 Silver Fox Lane, Sussex, NJ 07461Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/4/2029144.6  144.6  117.0  0.04 %
Wooter Apparel, Inc(#,^)330Milltown Rd, Ste 22E, East Brunswick, NJ 08816Nonstore RetailersTerm LoanPrime plus 2.75%2/28/202945.6  45.6  37.9  0.01 %
38
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Monkey Bones LLC(#,^)1600 Carter Cove Rd, Hayesville, NC 28904Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/204419.1  19.1  21.5  0.01 %
NY Scoops LLC dba Cool Suppliers and Breakneck Road LLC(#,^)484 Summit St, Elgin, IL 60120Food ManufacturingTerm LoanPrime plus 2.75%2/28/202945.5  45.5  42.7  0.01 %
KSW Agency Inc.(#,^)32091 Broken Branch Circle, Spanish Fort, AL 36527Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%2/28/202913.7  13.7  14.1  — %
Shah Medical Center SC & Heeena Shyamani(#,^)800 SW 21st Terrace, Ft Lauderdale, FL 33312HospitalsTerm LoanPrime plus 2.75%2/28/2044249.2  249.2  238.7  0.07 %
Legacy Roof Contractors LLC(#,^)7522 Old Linton Hall Rd, Gainesville, VA 20155Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/2044294.5  294.5  297.8  0.09 %
Woodard Electric Services, Inc.(#,^)5501 Josh Birmingham Pkwy Concourse A, Charlotte, NC 28208Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/202919.7  19.7  16.3  — %
Matrix Z LLC(#)949 Turquoise St., San Diego, CA 92109Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 6.5%2/27/202911.6  11.6  10.9  — %
Merdad Dentistry PLLC dba Easy Dental Care(#,^)3633 B Hill Rd, Parsippany, NJ 07054Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/26/202914.4  14.4  11.6  — %
Harbor Management Company Inc dba Jamba Juice(#,^)1521 Lyon Court a/k/a 2418 Central Ave, Charlotte, NC 28205Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/22/2029136.8  136.8  112.7  0.03 %
EasyBooks, Inc.(#,^)12140 Wickchester Ln STE 130, Houston, TX 77079Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/22/20295.5  5.5  4.4  — %
Mia Restoration Inc dba PuroClean and Puroclean of Morristown NJ(#,^)98-18 Rockaway Blvd, Ozone Park, NY 11417Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/21/202937.6  37.6  31.8  0.01 %
Gomez Advanced Wellness Center, Inc.(#,^)98-18 Rockaway Blvd, Far Rockaway, NY 11417Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/21/2044147.3  147.3  154.0  0.05 %
Citiline Cafe At Jacobs Plaza, LLC dba Citiline Cafe(#,^)2130 Providence Highway, Walpole, MA 02081Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/20/202944.3  44.3  35.9  0.01 %
Outler Transportation Services,LLC(#,^)3775 Carriage Downs CT SW, Snellville, GA 30039Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/19/202941.0  41.0  34.1  0.01 %
Bowl 360 Inc.(#,^)530 Willis Ave, Bronx, NY 10455Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/2029127.2  127.2  103.7  0.03 %
Rob Barletta's Hockey School, Inc(#,^)1174 Yellostone Drive, Lake Arrowhead, CA 92532Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%2/19/202999.2  99.2  102.3  0.03 %
Bowl 360 Inc.(#,^)211 West Camellia Drive, Slidell, LA 70458Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/2029148.3  148.3  133.2  0.04 %
Integris Roofing, Inc(#,^)9212 Liberty Ave, Ozone Park, NY 11417Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/15/202920.5  20.5  16.6  0.01 %
M & M Burgers Inc dba Checkers(#,^)450 Fremont St #109 and 113, Las Vegas, NV 89101Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/2029105.3  105.3  87.8  0.03 %
Tony Herring & Associates, Inc(#,^)600 West Charles St., Matthews, NC 28105Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%2/14/202913.7  13.7  14.1  — %
39
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Gateway Veterinary Services, P.C. dba Liberty Animal Clinic(#,^)8101 Sandy Spring Rd Ste 250N, Laurel, MD 20707Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/14/2044135.8  135.8  152.6  0.05 %
Par-Man, Inc. dba Rockstar Tattoo(#,^)22015 IH 10 West, San Antonio, TX 78249Health and Personal Care StoresTerm LoanPrime plus 2.75%2/14/202957.0  57.0  46.8  0.01 %
KHSE Parks, Inc.(#,^)87 Main St. Upper Level, Hastings-on-Hudson, NY 10706Administrative and Support ServicesTerm LoanPrime plus 2.75%2/14/202975.2  75.2  60.9  0.02 %
Precedence Enterprises LLC dba Spartan Junk Removal(#,^)9408 Apison Pike, Ste 11, Ooltewah, TN 37363Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/8/202914.7  14.7  12.9  — %
Pamletics LLC dba F45(#,^)4119 Gallatin Pike, Nashville, TN 37216Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/8/20293.4  3.4  3.1  — %
Shepherd Fitness, LLC dba Workout Anytime Ooltewah(#,^)1397 McGuire Rd, Lamar, AR 72846Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/8/2029154.0  154.0  134.9  0.04 %
EJGR Corp dba Brite Energy Solutions(#,^)4291 Shoal Line Blvd, Hernando Beach, FL 34607UtilitiesTerm LoanPrime plus 2.75%2/8/202957.0  57.0  46.4  0.01 %
Creative Counseling Nashville PLLC(#,^)4371 Durham Court, Denver, CO 80239Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/7/20292.0  2.0  1.6  — %
RIHAHN INC dba RDBL, INC.(#,^)500 Research Rd, Richmond, VA 23236Forestry and LoggingTerm LoanPrime plus 2.75%2/5/20296.3  6.3  6.5  — %
Hernando Beach Motel Inc.,The Purple Cow House of Pancake Inc(#,^)3808 Vegas Drive, Las Vegas, NV 89108AccommodationTerm LoanPrime plus 2.75%2/1/202913.7  13.7  14.1  — %
Jesus and Son's Landscape Contractors, LLC(#,^)11109 Old Seward Highway, Anchorage, AK 99515Administrative and Support ServicesTerm LoanPrime plus 2.75%2/1/202952.4  52.4  44.2  0.01 %
Employer Resource Services LLC dba Data Pool(#,^)414 Union St, Nashville, TN 37219Administrative and Support ServicesTerm LoanPrime plus 2.75%1/31/202933.8  33.8  27.4  0.01 %
MYC Motors Inc(#,^)2879 W 95th St. Ste 195, Naperville, IL 60564Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%1/30/204473.6  73.6  82.7  0.03 %
FNF LLC dba WineStyles(#,^)55 Green Hill St., West Warwick, RI 2816Food and Beverage StoresTerm LoanPrime plus 2.75%1/22/2029224.4  224.4  181.8  0.06 %
IGWT Coffee, LLC dba PJ's Coffee of New Orleans(#,^)309 Coronado Drive, Clearwater Beach, FL 33767Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/18/202974.8  74.8  60.5  0.02 %
MMC Investors, LLC dba Clean Juice(#,^)11694 Sudley Manor Drive, Manassas, VA 20109Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/18/202980.5  80.5  67.1  0.02 %
Hilco Athletics & Graphics Inc(#,^)174 El Cerrito Plaza, El Cerrito, CA 94530Apparel ManufacturingTerm LoanPrime plus 2.75%1/16/204467.5  67.5  75.8  0.02 %
Fluid Connections LLC dba BurgerIM(#,^)14865 Highway 92, Woodstock, GA 30188Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/11/202956.7  56.7  50.1  0.02 %
CMLCLEARWATERBEACH.LLC dba Cousins Maine Lobster(#,^)215 S Persimmon St,, Tomball, TX 77375Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/11/202981.6  81.6  67.3  0.02 %
HSR Tacos LLC dba California Tortilla(#,^)191 Old Tower Hill Rd., South Kingstown, RI 2879Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/11/202949.4  49.4  40.0  0.01 %
Rashed and Shabila LLC(#,^)1825 N Rocky River Rd, Monroe, NC 28110Gasoline StationsTerm LoanPrime plus 2.75%1/4/202920.4  20.4  18.2  0.01 %
40
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
The Chop House Inc.(#,^)49045 Van Dyke Ave, Shelby Charter Township, MI 48317Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2043547.3  547.3  560.8  0.17 %
Romain Tower Inc. David Romaine, Sugar Land Crane and Rigging, LLC(#,^)9503 Kenwood Rd, Cincinnati, OH 45242Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/31/2028213.9  213.9  173.1  0.05 %
Superior Concepts Acquisition Corp(#,^)10911 Bonita Beach Rd SE Unit 104 A & 104B, Bonita Springs, FL 34135Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/28/2043500.0  500.0  533.0  0.16 %
Galt Insurance Group of Bonita Springs, LLC & Bonita Safety Institut(#,^)1710 Tiles Court, Grand Haven, MI 49417Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/28/204318.4  18.4  21.2  0.01 %
Superior Concepts Acquisition Corp(#,^)1710 Tiles Ct, Grand Haven, MI 49417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/28/2028108.0  108.0  101.8  0.03 %
Nix and Nix Funeral Home North Inc,(#,^)1621 W. Dauphin St., Philadelphia, PA 8065Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/28/2043558.7  558.7  631.4  0.19 %
American Rewinding of NC Inc dba MTS(#,^)74 Larkfield Rd, East Northport, NY 11731Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/28/2028382.5  382.5  361.6  0.11 %
Omega Funeral and Cremation Services,LLC(#,^)32302 East Historic Columbia River Hwy, Corbett, OR 97019Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/28/2043335.4  335.4  366.7  0.11 %
Capitol Fitness Inc. dba Anytime Fitness Shelby(#,^)6857 Timbers Drive, Evergreen, CO 80439Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/28/202816.4  16.4  15.4  — %
Green Valley Landscape Management Inc. dba Apopka Mower and Equipment(#,^)1220 Broadcasting Rd Ste 202, Wyomissing, PA 19610Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2043454.7  454.7  492.6  0.15 %
Medworxs Inc.(#,^)2975 W Orange Blossom Trail, Apopka, FL 32712Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/27/20289.5  9.5  8.5  — %
East Breeze LLC dba Historic Springdale Pub and Eatery(#,^)312 W Main St., Red River, NM 87558Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/27/2043125.8  125.8  140.7  0.04 %
Fave Realty Inc.(#,^)1912 N Arlington Heights Rd., Arlington Heights, IL 60004Real EstateTerm LoanPrime plus 2.75%12/27/2043121.2  121.2  139.7  0.04 %
Reservations Unlimited LLC(#)450 South Highway 165, Branson, MO 65616Real EstateTerm LoanPrime plus 2.75%12/26/2043139.6  139.6  156.3  0.05 %
BD Branson Victorian LLC dba Branson Victorian Inn(#,^)5141 Topaz Drive, Colorado Springs, CO 80918AccommodationTerm LoanPrime plus 2.75%12/24/2043487.7  487.7  547.2  0.17 %
RM Hawkins LLC(#,^)5 Greentree Center, Marlton, NJ 08053Nonstore RetailersTerm LoanPrime plus 2.75%12/24/2028270.2  270.2  256.9  0.08 %
Timios Enterprises Corp dba Palm Court(#,^)607 West Magnolia Ave, Fort Worth, TX 76104Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/24/2043694.3  694.3  766.5  0.23 %
Sesolinc GRP, Inc.(#,^)4500 S Country Rd, Odessa, TX 79768Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/21/2028338.0  338.0  324.8  0.10 %
D.A.F.S Transport, LLC(#,^)1101 Stewart Ave Ste 104, Garden City, NY 11530Truck TransportationTerm LoanPrime plus 2.75%12/21/2028582.0  582.0  587.3  0.18 %
41
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Royalty Freight Inc(#,^)4015 Jennings Rd, Cleveland, OH 44109Truck TransportationTerm LoanPrime plus 2.75%12/21/202887.8  87.8  79.1  0.02 %
ETS Tree Service Inc and Eastern Tree Service, Inc(#,^)1402 W Park Ave, Orange, TX 77630Administrative and Support ServicesTerm LoanPrime plus 2.75%12/21/2028207.3  207.3  197.7  0.06 %
Kyle M Walker DDS, PC(#,^)7777 Glades Rd, Ste 100, Boca Raton, FL 33434Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/2028101.3  101.3  91.2  0.03 %
Diamond Estates LLC(#,^)3728 W McKinley Ave, Fresno, CA 93722Construction of BuildingsTerm LoanPrime plus 2.75%12/21/202867.5  67.5  60.8  0.02 %
The Law Office of Jared E. Shapiro, P.A(#,^)24462 NW 9th Place, Newberry, FL 32669Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/202810.1  10.1  9.1  — %
Fifth Wheel Truck Stop 001, Inc.(#,^)110 Court St Ste 1, Cromwell, CT 06416Gasoline StationsTerm LoanPrime plus 2.75%12/21/202893.1  93.1  83.9  0.03 %
Burgess and Dudley, Incorporated(#,^)3767 South Golden State Blvd, Fresno, CA 93725Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/21/2028213.9  213.9  200.5  0.06 %
LP Industries, Inc and Playground Packages, LLC(#,^)806 Randy Lowery Rd, Statesboro, GA 30461Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/21/202884.4  84.4  76.2  0.02 %
Accel Compression Inc.,Accel Workover Services Inc dba Mica Tool & Tur(#,^)4813 Pinson Valley Pkwy, Birmingham, AL 35215Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/21/2044167.6  167.6  193.5  0.06 %
Cammarata Associates LLC(#,^)207 S. Teresa St., Monahans, TX 79756Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%12/21/202867.5  67.5  60.8  0.02 %
C&D Trucking & Equipment Service, Inc.(#,^)2040 Norwood, Lenoir, NC 28645Repair and MaintenanceTerm LoanPrime plus 2.75%12/21/2043115.0  115.0  132.4  0.04 %
Precision Bytes LLC dba Tower Connect(#,^)6633 Brayton Drive, Anchorage, AK 99507Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2028116.9  116.9  105.3  0.03 %
Baseline Health, LLC & Baseline Health Management, LLC(#,^)23 Main St., Wardsboro, VT 5355Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/2028107.0  107.0  98.2  0.03 %
Graff Excavating, Inc(#,^)2043 Coteau Rd, Houma, LA 70364Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/20/2028176.2  176.2  160.9  0.05 %
Alaska Motor Home Inc(#,^)803 E State St., Toledo, IA 52342Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2028270.4  270.4  260.0  0.08 %
Flashii App, Inc.(#,^)1671 Belle Isle Ave Ste 110- Office C, Mount Pleasant, SC 29464Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202856.3  56.3  58.5  0.02 %
CK Green Partners, LLC dba Reis and Irvy"s Columbus(#,^)5010 Augusta Drive, Westerville, OH 43082Nonstore RetailersTerm LoanPrime plus 2.75%3/20/2029171.3  171.3  166.0  0.05 %
Hotel Compete, LLC(#,^)223 W Jackson Blvd, Chicago, IL 60606Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202856.3  56.3  50.7  0.02 %
Healthy and Fresco LLC(#,^)86 Boston Rd, Chelmsford, MA 01824Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/20/202941.4  41.4  38.6  0.01 %
Local Liberty Inc dba The Wardsboro Country Store(#,^)75 E Santa Clara St, San Jose, CA 95113Food and Beverage StoresTerm LoanPrime plus 2.75%12/20/2043152.3  152.3  170.3  0.05 %
42
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Yellow Fin Marine Services LLC, K Marine XI, LLC K Marine VIII, LLC(#,^)7207 B Lockport Pl, Lorton, VA 22079Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2028474.1  474.1  482.7  0.15 %
Roots N Shoots, LLC & Yardplus LLC(#,^)9800 NW 78th Ave, Hialeah Gardens, FL 33016Administrative and Support ServicesTerm LoanPrime plus 2.75%12/20/202848.6  48.6  44.7  0.01 %
Accent Comfort Services, LLC(#,^)G-2340 West Carpenter Rd, Flint, MI 48505Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/19/202861.9  61.9  56.2  0.02 %
Sheldon T Banks and Sheldon T Banks LLC dba Serenity Funeral chapel ll(#)316 NW 24th St., Miami, FL 33180Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/19/2044412.7  412.7  462.1  0.14 %
Marlin Lighting LLC(#,^)5035 W. W.T. Harris Blvd Ste C, Mecklenburg, NC 28269Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/19/202891.7  91.7  82.6  0.03 %
JejoJesi Corp dba Dukunoo Jamaican Kitchen, Dunkunoo(#,^)264 Church St, Guilford, CT 06437Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/19/202967.5  67.5  64.5  0.02 %
The Cromer Company(#,^)4477 E 11th Ave, Hialeah, FL 33013Miscellaneous Store RetailersTerm LoanPrime plus 2.75%12/19/2028450.6  450.6  407.2  0.12 %
Ventures TBD LLC dba The Bottle Tree(#,^)75 Yerba Buena Lane, San Francisco, CA 94103Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/204396.9  96.9  105.1  0.03 %
YBL Restaurant Group LLC dba Tropisueno(#,^)1007 Johnnie Dodds Blvd, Ste 123, Mount Pleasant, SC 29464Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/14/2029344.2  344.2  313.0  0.10 %
Alpha Omega Trucking LLC(#,^)148 Holmgren Place, Girdwood, AK 99587Truck TransportationTerm LoanPrime plus 2.75%12/14/202863.0  63.0  65.9  0.02 %
Cordoba Foods LLC, Multi Logistics Network Inc, Karina Mena(#,^)148 Holmgren Place, Girdwood, AK 99587Food ManufacturingTerm LoanPrime plus 2.75%12/14/2028286.1  286.1  268.8  0.08 %
Healthy Human, LLC(#,^)14432-14452 Stateline Rd, Brookings, OR 97415Nonstore RetailersTerm LoanPrime plus 2.75%12/14/2028112.6  112.6  101.4  0.03 %
Sound Contracting LLC(#,^)2823 Fllintstone Rd, Millers, MD 21102Construction of BuildingsTerm LoanPrime plus 2.75%12/14/202837.6  37.6  36.0  0.01 %
Sound Contracting LLC(#,^)102 Davis St., Belmont, NC 28012Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/14/2043193.3  193.3  211.3  0.06 %
Fitness Orlando LLC & Fitness Orlando Oviedo, LLC(#,^)119 West 57th St., Ste 300, New York, NY 10019Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/14/2028247.7  247.7  231.9  0.07 %
Aero Consulting and Engineering Inc(#,^)196-15 Northern Blvd, Flushing, NY 11318Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/202813.5  13.5  12.2  — %
Alpha Landscape Contractors, Inc(#,^)560 Main St., Milford, UT 84751Administrative and Support ServicesTerm LoanPrime plus 2.75%1/14/2029300.8  300.8  284.2  0.09 %
Peanut Butter & Co., Inc.(#,^)160 Tuskawilla Rd Ste 1214, Winter Springs, FL 32708Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/14/2028225.3  225.3  202.9  0.06 %
Mediterranean Tastes Inc dba Mediterranean Tastes Since 1974(#,^)7941 NW 3rd St., Plantation, FL 33324Food and Beverage StoresTerm LoanPrime plus 2.75%12/14/202814.2  14.2  12.8  — %
43
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
L&M Services, LLC(#,^)2 Center Rd,, Old Saybrook, CT 06475Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%12/14/2043196.2  196.2  216.2  0.07 %
Stony Creek Wellness Group, LLC(#,^)460 East 3rd Ave, New York, NY 10016Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/14/204396.9  96.9  108.4  0.03 %
OC Helicopters LLC(#,^)484 Farmington Ave, Hartford, CT 06105Air TransportationTerm LoanPrime plus 2.75%12/13/202880.8  80.8  84.5  0.03 %
The Miller Center for Esthetic Excellence,(#,^)19711 Campus Drive Ste 260, Santa Ana, CA 92707Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/13/2043380.2  380.2  396.9  0.12 %
Plan B Burger LLC(#,^)2200 Michener St, Ste 12, Philadelphia, PA 19115Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/13/2029946.9  946.9  891.2  0.27 %
D for Dream LLC dba Blo Blow Dry Bar Inc(#,^)22 Old Short Hills Rd,, Livingston, NJ 07039Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/13/202968.2  68.2  61.7  0.02 %
Tapia Auto Care, LLC dba Shoreline Quick Lube and Car Wash(#,^)575 Panama Lane, Bakersfield, CA 93307Repair and MaintenanceTerm LoanPrime plus 2.75%12/13/2043958.9  958.9  1,034.7  0.32 %
Burton Realty Co., Inc dba Anchor Realty, Northeast(#,^)1000 Essington Rd, Ste 111, Joliet, IL 60435Real EstateTerm LoanPrime plus 2.75%12/13/2028273.1  273.1  246.0  0.08 %
Tier1 Solutions LLC(#,^)575 Panama Lane, Bakerfield, CA 93307Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/12/20299.2  9.2  8.3  — %
Mateo Enterprise Inc dba El Milagro Market(#,^)119 Brooks Rd, Harwich Port, MA 02646Food and Beverage StoresTerm LoanPrime plus 2.75%12/12/2043117.7  117.7  127.8  0.04 %
Mateo Enterprise Inc dba El Milagro Market(#,^)18115 62nd Ave NE, Kenmore, WA 98028Food and Beverage StoresTerm LoanPrime plus 2.75%1/12/202954.1  54.1  48.8  0.01 %
Airstrike Firefighters LLC(#,^)119 Brooks Rd, Harwich Port, MA 02646Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%12/12/20281,126.5  1,126.5  1,093.4  0.33 %
Ashwood Food Services Inc. dba Jake Rooney's(#,^)1750 W Lake St, Chicago, IL 60612Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/12/2043211.0  211.0  238.1  0.07 %
Behind The Scenes Chicago, LLC dba Paramount Events(#,^)212 Bendigo Blvd N, North Bend, WA 98045Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/12/2029231.1  231.1  230.3  0.07 %
Ashwood Food Services, Incorporated dba Jake Rooney's(#,^)7505 Highland Rd, White Lake, MI 48383Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/12/202960.9  60.9  57.4  0.02 %
EMES Supply, LLC(#,^)11 Easter Court Ste G, Owings Mills, MD 21117General Merchandise StoresTerm LoanPrime plus 2.75%1/11/2029112.7  112.7  103.8  0.03 %
White Wilson & Associates LLC(#,^)10867 W Jefferson Ave, River Rouge, MI 46218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/11/204341.7  41.7  45.2  0.01 %
Oregon Medical Training Private Career School Inc.(#,^)1126 Gateway Loop, Ste 108, Springfield, OR 97702Educational ServicesTerm LoanPrime plus 2.75%1/11/202936.1  36.1  32.6  0.01 %
TFE Resources ,LTD(#,^)35622 Vine St., EastLake, OH 44095UtilitiesTerm LoanPrime plus 2.75%1/11/2029538.8  538.8  500.4  0.15 %
Duck's Nuts Inc dba Pet Place Market(#,^)190 NE 2nd Ave, Delray Beach, FL 33444Miscellaneous Store RetailersTerm LoanPrime plus 2.75%1/11/202939.0  39.0  37.4  0.01 %
B&B Bodega of Delray LLC(#,^)16238 Louis Ave., South Holland, IL 60473Food and Beverage StoresTerm LoanPrime plus 2.75%1/11/202913.7  13.7  12.4  — %
44
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Hilltop Wine Shop, Inc dba Hiltop Wine Shop(#,^)1290 Doyle Rd, Deltona, FL 32725Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/11/2043125.6  125.6  138.2  0.04 %
Googlyoogly, LLC dba Bi-Rite Supermarket(#,^)51343 Oro Rd, Shelby Township, MI 33444Food and Beverage StoresTerm LoanPrime plus 2.75%12/11/2043199.2  199.2  216.2  0.07 %
ZLM Services LLC(#,^)17323 Ventura Blvd, Encino, CA 91316Administrative and Support ServicesTerm LoanPrime plus 2.75%1/10/202936.1  36.1  32.6  0.01 %
Team Henry, LLC dba Kelly Automotive of Deltona(#,^)1465 Kelly Johnson Blvd, Colorado Springs, CO 80920Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/2043383.9  383.9  415.3  0.13 %
Food Service Industry Consultants Inc.(#,^)4709 N El Capitan Ave. Ste 205, Fresno, CA 93722Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/7/202964.5  64.5  58.4  0.02 %
Shining Star Kids, Inc. dba Brain Balance(#,^)20 Universal Place, Carlstadt, NJ 07072Educational ServicesTerm LoanPrime plus 2.75%1/7/202979.0  79.0  71.7  0.02 %
CET Inc(#,^)3000 N Federal Highway, Ste 1, Fort Lauderdale, FL 33306Truck TransportationTerm LoanPrime plus 2.75%1/6/20291,108.2  1,108.2  1,036.3  0.32 %
Metro R Services Inc. and Metal & Roof Supplies Inc.(#,^)342 South La Brea Ave, Los Angeles, CA 90036Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/6/2029187.1  187.1  195.9  0.06 %
Unique Home Solutions Inc. and Unique Home Solutions of Ohio(#,^)5550 Progress Rd, Indianapolis, IN 46241Construction of BuildingsTerm LoanPrime plus 2.75%1/5/2029225.5  225.5  236.0  0.07 %
Little West LLC, 340 Group LLC, Retail West LLc, Andrew W Walker, Cass(#,^)415 Woodbury Rd, Orlando, FL 32828Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/5/202978.9  78.9  71.9  0.02 %
Consulting Solutions, Inc and Mark Luciani(#,^)360 Lexington Ave 8th Floor, New York, NY 10017Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/5/202951.8  51.8  46.8  0.01 %
Levine Daycare Inc dba Kids R Kids(#,^)24480 W 10 Mile RD, Southfield, MI 48033Social AssistanceTerm LoanPrime plus 2.75%1/5/2029243.5  243.5  231.0  0.07 %
Jay Carlton's, LLC dba Jay Birds Rotisserie & Grill(#,^)949 A Clint Moore Rd, Boca Raton, FL 33487Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/4/202935.1  35.1  33.8  0.01 %
The Altitude Group LLC(#,^)1431 11th Ave SE, Olympia, WA 98501Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/4/2029126.5  126.5  114.8  0.04 %
Access Staffing, LLC(#,^)1 Plumb CT., Huntington Station, NY 11746Administrative and Support ServicesTerm LoanPrime plus 2.75%1/4/2029175.2  175.2  158.1  0.05 %
York Concrete Corp(#,^)4291 Shoal Line Blvd, Hernando Beach, FL 34607Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/3/2043196.2  196.2  224.0  0.07 %
Swantown Inn and Spa, LLC(#,^)2206 N Central Ave, Chicago, IL 60639AccommodationTerm LoanPrime plus 2.75%1/3/202912.2  12.2  12.7  — %
Hernando Beach Motel LLC,The Purple Cow House o APancake AInc.(#,^)1104 N Keystone Ave, Indianapolis, IN 46201AccommodationTerm LoanPrime plus 2.75%11/30/2043220.5  220.5  253.9  0.08 %
Cabrera's Auto Services LLC(#,^)235 North Mosby Ave, Littleton, NC 27850Repair and MaintenanceTerm LoanPrime plus 2.75%11/30/204379.5  79.5  88.3  0.03 %
Water Station Holdings LLC(#,^)244 Spokane Ave, Whitefish, MT 59937Nonstore RetailersTerm LoanPrime plus 2.75%12/30/2028621.0  621.0  603.5  0.18 %
Microplex Co, Third Market LLC(#,^)13762 W State Rd 84, Davie, FL 33325Food and Beverage StoresTerm LoanPrime plus 2.75%12/30/2028147.8  147.8  133.4  0.04 %
45
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Luxury Furniture, Inc.dba Venicasa & Luxe Home Interiors(#,^)3331 Toledo Terrace Ste 308, Hyattsville, MD 20782Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/30/2028112.0  112.0  112.8  0.03 %
Tammy's Place LLC(#,^)458 N 7th St., Newark, NJ 07107Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/2044428.3  428.3  491.2  0.15 %
Albert M Quashie, DDS, PC(#,^)3331 Toledo Terrace Ste 308, Hyattsville, MD 20782Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/29/202878.5  78.5  76.4  0.02 %
JJB Production LLC(#,^)3626 CR 203, Liverpool, TX 77577Administrative and Support ServicesTerm LoanPrime plus 2.75%12/29/20286.6  6.6  6.0  — %
Albert M. Quashie, DDS, PC(#,^)251 NW 1st St., Deerfield Beach, FL 33441Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/29/204363.8  63.8  69.7  0.02 %
True Love Christian Academy LLC(#,^)466 E Raines Rd, Memphis, TN 38109Social AssistanceTerm LoanPrime plus 2.75%12/28/204341.2  41.2  46.9  0.01 %
Level Up Gaming, Inc(#,^)1132 Creighton Rd, Pensacola, FL 32504Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%11/28/204388.2  88.2  94.5  0.03 %
Extreme Granite Corp(#,^)69 Lewis Ave, Atlantic Beach, NY 11509Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/28/2043183.8  183.8  208.7  0.06 %
Sky Wonder Pyrotechnics, LLC dba Sky Wonder Fire and Safety Gear Up Te(#,^)12930 Worldgate Drive, Herndon, VA 20170Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/28/2043421.4  421.4  485.1  0.15 %
Best Global Alternative North, LLC(#,^)45 E Main St., New Palestine, IN 46163Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/21/202878.4  78.4  70.6  0.02 %
BEK Holdings LLC, Veseli Fine Art Galleries, LLC, Trusted.com LLC, Exe(#,^)14 Iron St., Ledyard, CT 06339Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/20281,163.0  1,163.0  1,207.0  0.37 %
M.A.W. Enterprises LLC dbaY-Not Pizza(#,^)2120 Plaster Bridge Rd NE, Atlanta, GA 30324Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/21/202820.2  20.2  19.2  0.01 %
Thames Aquatic Club, LLC(#,^)11013 Kenwood Rd., Cincinnati, OH 45242Educational ServicesTerm LoanPrime plus 2.75%10/21/202941.3  41.3  43.5  0.01 %
On Call Electrical of Georgia LLC(#,^)2070 Nooseneck Hill Rd, Coventry, RI 2816Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/20/2043651.2  651.2  709.8  0.22 %
Commonwealth Warehouse Inc(#,^)2015 Woodspring Terrace, Henderson, NV 89012Warehousing and StorageTerm LoanPrime plus 2.75%12/20/2028379.4  379.4  365.4  0.11 %
High Desert Transport, Inc.(#,^)3450 East Orangethrope Ave, Anaheim, CA 92806Truck TransportationTerm LoanPrime plus 2.75%12/19/202868.1  68.1  63.4  0.02 %
K & A Automotive Inc(#,^)3949 New Rd, Youngstown, OH 44515Gasoline StationsTerm LoanPrime plus 2.75%11/19/2043119.7  119.7  135.2  0.04 %
Cali Fit Meals(#,^)536 Spruce St, Scranton, PA 18503Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/202856.0  56.0  50.6  0.02 %
Cocomo Joe's LLC(#,^)100 Village Rd, Port Lavaca, TX 77979Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/20280.6  0.6  0.5  — %
Saunders Management LLC dba Northern Light Espresso Bar and Cafe(#,^)100 Village RD, Port Lavaca, TX 77979Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/16/202836.3  36.3  37.9  0.01 %
46
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Beau & HB Inc dba Beau's Billard, Bowling & Arcade(#,^)3400 Remington Dr, Plano, TX 75023Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/16/204368.6  68.6  75.5  0.02 %
Beau & HB Inc dba Beau's Billiard, Bowling & Arcade(#,^)21985 Waller Rd, Fulton, IL 61252Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/16/202938.2  38.2  38.6  0.01 %
Allegro Assisted Living Services of Texas LLC(#,^)1107 Broad St., Bloomfield, NJ 07003Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%11/15/204393.1  93.1  107.2  0.03 %
Schafer Fisheries Inc.(#,^)13410 SE 26th Circle, Vancouver, WA 98683Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%11/14/202844.7  44.7  46.7  0.01 %
Salon Femi LLC(#,^)6590 Sugarloaf Pkwy, Duluth, GA 30097Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/9/20286.7  6.7  6.6  — %
US Dedicated LLC(#,^)5372 Whitehall Pl SE, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/2028386.1  386.1  353.5  0.11 %
Jinwoo Sushi Inc(#,^)876 Virginia Ave, Hapeville, GA 30354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/9/202820.1  20.1  21.0  0.01 %
McNeill Stokes(#,^)460 Park Ave, Floor 16, New York, NY 10022Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/8/20286.0  6.0  5.4  — %
Vancole Investments, Inc. dba Smoothie King #913(#,^)840 El Paseo de Saratoga, San Jose, CA 95130Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/7/2044409.9  409.9  444.9  0.14 %
JP Dhillon's Foods LLC(#,^)2218 Marine View Drive, Tacoma, WA 98422Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/1/202988.4  88.4  80.0  0.02 %
Peter Thomas Roth Labs LLC and June Jacobs Labs, LLC(#,^)7804 Montgomery Ave Unit 3-6, Elkins Park, PA 19027Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/1/2028291.1  291.1  262.2  0.08 %
Modutech Marine Inc(#,^)11230 West Ave, Ste 2210, San Antonio, TX 78213Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/1/2028336.1  336.1  351.2  0.11 %
Steele Security, LLC dba Signal 88 Security of San Antonio(#,^)1500 Village Run Rd, Wexford, PA 15090Administrative and Support ServicesTerm LoanPrime plus 2.75%10/31/202898.9  98.9  90.1  0.03 %
Abington Caregivers, LLC(#,^)20038 West Valley HWY, Kent, WA 98032Social AssistanceTerm LoanPrime plus 2.75%11/30/2043123.0  123.0  136.9  0.04 %
C.A.T.I. Armor, LLC(#,^)435 Packard Hwy, Charlotte, MI 48813Apparel ManufacturingTerm LoanPrime plus 2.75%10/30/2043206.1  206.1  225.2  0.07 %
Organic Juice Bar Wexford LLC dba The OJB "The Organic Juice Bar"(#,^)3340-3342 West Bryn Mawr Ave, Chicago, IL 60659Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/202973.4  73.4  67.4  0.02 %
UK, LLC dba Pita Pit(#,^)3970 Everhard Rd, NW, Canton, OH 44709Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/202955.7  55.7  51.6  0.02 %
Ohio Gold & Pawn LLC, Our New Building LLC and Corey Fischer(#,^)7197 Koamano St, Honolulu, HI 96825Miscellaneous Store RetailersTerm LoanPrime plus 2.75%10/26/2028130.4  130.4  136.2  0.04 %
The Face Place, LLC dba Classic Aesthetics(#,^)4268 Cahaba Heights CT Ste 115, Vestavia, AL 35243Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/25/20288.9  8.9  8.1  — %
Bellas Sports Pub, Inc dba Brewmasters Tavern(#,^)1152 Main St., Coventry, RI 2816Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/24/204367.8  67.8  77.6  0.02 %
Shovels and Whiskey LLC(#,^)446 SE Washington St, Hillsboro, OR 97123Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%10/16/204375.0  75.0  84.5  0.03 %
47
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Hackstaff Restaurants LLC(#,^)248 W 1st. St. Ste 201, Reno, NV 89501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/2029145.0  145.0  133.6  0.04 %
TA Coleman, LLC dba Tom's Truck Shop(#,^)2101 Route 610, Woodbine, NJ 08270Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/12/20285.2  5.2  5.0  — %
Cater To You Agency, LLC, dba Cater To You(#,^)1319 Sherrick Rd SE, Canton, OH 44707Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/11/204322.1  22.1  24.1  0.01 %
Faydon, Inc(#,^)1905 W Baker St., Ste A, Plant City, FL 33567Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%10/10/202866.7  66.7  69.7  0.02 %
MB Click It Photography, LLC(#,^)100 Manchester Ranch Place, Aynor, SC 29511Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/10/204337.5  37.5  42.0  0.01 %
Wellfleet Consulting Inc.(#,^)2275 Research Blvd Ste # 500, Rockville, MD 20850Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/9/202813.3  13.3  12.0  — %
Apps Inc and Market Share Inc.(#,^)80 Main St., Old Saybrook, CT 06475TelecommunicationsTerm LoanPrime plus 2.75%10/5/202879.6  79.6  71.7  0.02 %
Moore Care LLC(#,^)8550 United Plaza Blvd, Baton Rouge, LA 79809Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/4/202846.2  46.2  41.7  0.01 %
JAM Media Solutions LLC(#,^)11 Netherwood Terrace, East Orange, NJ 07017Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/28/2028787.1  787.1  730.1  0.22 %
A-1 Van Sevices, Inc.(#,^)2341 East Ellis St., Leveland, TX 79336Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/28/202893.6  93.6  93.1  0.03 %
SwabCo Inc.(#,^)4005 Borman Drive, Batavia, OH 45103Support Activities for MiningTerm LoanPrime plus 2.75%9/28/2043920.0  920.0  1,013.8  0.31 %
Rami Technology USA, LLC(#,^)154 Sandy Creek Rd, Verona, PA 15147Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%9/28/2028158.9  158.9  144.5  0.04 %
Burd Brothers Inc.(#,^)7130 Crater Lake, White City, OR 97603Truck TransportationTerm LoanPrime plus 2.75%9/28/2028473.3  473.3  462.4  0.14 %
La Venezia Corporation dba La Venezia Ballroom & Robertos Lounge(#,^)4646 SE 11th Place, Cape Coral, FL 33904Food and Beverage StoresTerm LoanPrime plus 2.75%9/28/2043323.0  323.0  360.6  0.11 %
Throop Family Holdings, Inc(#,^)10400 NW 33rd St., Miami, FL 33172Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/28/2043627.2  627.2  684.9  0.21 %
Blackwater Diving, LLC(#,^)85 Franklin Rd Unit 9B, Dover, NJ 07801Support Activities for MiningTerm LoanPrime plus 2.75%9/27/2028704.7  704.7  650.5  0.20 %
Quality Electric & Data(#,^)112 Forrest Rd, Morgan City, LA 70380Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/202888.0  88.0  86.1  0.03 %
Blue Seven, LLC(#,^)11111 San Jose Blvd, Ste 70, Jacksonville, FL 32223Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/27/202953.3  53.3  50.0  0.02 %
Quality Electric & Data Inc.(#,^)15452 Amar Rd, La Puente, CA 91744Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/2043126.7  126.7  136.7  0.04 %
Action Barricade Company, LLC and Barricade Holding LLC(#,^)85 Franklin RD Unit 9B, Dover, NJ 07801Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/27/2028272.4  272.4  267.3  0.08 %
Catherine Brandon, PSY.D., Inc dba Kenneth A Deluca, PH.D., & Associat(#,^)1802 N 27th Ave, Phoenix, AZ 85009Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/27/2028104.4  104.4  94.3  0.03 %
48
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
LG Law Center, Inc(#,^)777 South Flagler Drive Ste 800W, West Palm Beach, FL 33401Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/202813.2  13.2  12.3  — %
TFR Transit Inc, The Free Ride Inc, South Florida Free Ride Inc.,Tag-A(#,^)35888 Center Ridge Rd, Ste 5 & 6, North Ridgeville, OH 44039Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/27/2028110.1  110.1  105.9  0.03 %
US Shipping Trans Inc, Esteem Trucking Inc(#,^)16102 Sweetwater Court, Lathrop, CA 95330Truck TransportationTerm LoanPrime plus 2.75%9/26/2028727.1  727.1  727.1  0.22 %
Dentistry By Design, P.C(#,^)315 Walt Whitman Rd Ste 204-205, South Huntington, NY 11746Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/26/202813.2  13.2  12.2  — %
Above and Beyond Preschool LLC(#,^)1209 North Lane Ave, Jacksonville, FL 32254Social AssistanceTerm LoanPrime plus 2.75%9/26/2043538.7  538.7  604.7  0.18 %
Ace Auto Recovery, Inc.(#,^)672-678 Camellia Drive, Royal Palm Beach, FL 33411Administrative and Support ServicesTerm LoanPrime plus 2.75%9/26/2043156.0  156.0  173.9  0.05 %
LTS School, Inc.(#,^)3731 NW 9th Ave, Deerfield Beach, FL 33064Educational ServicesTerm LoanPrime plus 2.75%9/26/204398.7  98.7  113.7  0.03 %
Newsome Mobile Notary LLC(#,^)1432 Crooked Stick Drive, O'Fallon, MO 63366Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/25/20284.6  4.6  4.1  — %
Bhatti LLC, Bhatti 3 LLC, dba Auntie Annes(#,^)8153 12th Ave SW, Seattle, WA 98106Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/25/2028110.0  110.0  102.4  0.03 %
Steadfast Support Services, LLC(#,^)7219 Silver Mist Ave, North Chesterfield, VA 23237Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%9/25/20289.3  9.3  8.4  — %
Phillip Ramos Upholstery Inc.(#,^)3835 Elm St., Denver, CO 80207Repair and MaintenanceTerm LoanPrime plus 2.75%9/24/202813.6  13.6  12.3  — %
DC Lofty, LLC,(#,^)125 South DuBuque St., Iowa City, IA 52240AccommodationTerm LoanPrime plus 2.75%9/21/202819.8  19.8  18.0  0.01 %
 D & D Optics Inc dba Sterling Optical(#,^)321 Bayou Rd, Saint Bernard, LA 70085Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/202847.5  47.5  43.5  0.01 %
Southern Services and Equipment, Inc(#,^)321 Bayou Rd, Saint Bernard, LA 70085Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/2028376.2  376.2  365.7  0.11 %
MillClem Corporation & Monticello Corporation(#,^)16660 Oak St., Dillwyn, VA 22936Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%9/21/2043322.8  322.8  371.1  0.11 %
Southern Services and Equipment, Inc.(#,^)301 I St. NW, Washington, DC 20001Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/2043204.5  204.5  219.2  0.07 %
The Garden Club, LLC(#,^)1487 East LaSalle Drive, Bismark, ND 58503Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/21/20285.8  5.8  5.2  — %
Tables and Bars Services, Inc and Tables and Bars Rentals, LLC(#,^)5051 Peachtree Corners Circle Ste #200, Norcross, GA 30092Administrative and Support ServicesTerm LoanPrime plus 2.75%9/20/202815.9  15.9  15.1  — %
Dash Point Distributing LLC, Dash Point Logistics LLC and Sara Consal(#,^)10 Century Lane, Dillsburg, PA 17019Truck TransportationTerm LoanPrime plus 2.75%9/19/2028420.2  420.2  377.9  0.12 %
Watearth Inc(#,^)10010 N. Hampton Cove Lane, Indianapolis, IN 46236Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/19/202819.8  19.8  17.8  0.01 %
49
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Lewis River Golf Course, Inc.(#,^)3209 Lewis River Rd, Woodland, WA 98674Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/19/2043487.6  487.6  560.7  0.17 %
Super Station Inc(#,^)8855 N Country Rd 25A, Pique, OH 45356Gasoline StationsTerm LoanPrime plus 2.75%9/19/2043203.8  203.8  234.3  0.07 %
M&P RV LLC dba M&P RV(#,^)35000 Pacific Highway, Federal Way, WA 98003Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%9/19/2043106.6  106.6  122.3  0.04 %
C3 Capital, Inc(#,^)445 South Figuerora Ste 3128, Los Angeles, CA 90071Nonstore RetailersTerm LoanPrime plus 2.75%9/19/2028595.0  595.0  585.6  0.18 %
DB Talak LLC(#,^)220 Middle St., Franklin, VA 23851Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/18/2043148.2  148.2  163.1  0.05 %
E & G Enterprises LLC dba Comfort Keepers(#,^)2018 SE 6th Ave, Portland, OR 97214Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/18/20285.3  5.3  4.8  — %
Pastel de Feira LLC dba Original Pastel De Feira(#,^)65 Glendale St., Easthampton, MA 01027Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/20285.4  5.4  5.1  — %
Glendale Grill Inc, Roddy Cameron, Jr & John K Symasko(#,^)160 W 91st Ave, Unit B, Anchorage, AK 99515Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/2043170.7  170.7  188.7  0.06 %
Culmination Motorsports, Inc.(#,^)4244 Pine Ridge CT, Weston, FL 33331Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/2043545.6  545.6  624.4  0.19 %
L&M Equipment, Inc(#,^)Mile 2.5 Alaska Peninsula Highway, Naknek, AK 99633Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/14/20431,219.0  1,219.0  1,358.0  0.41 %
J & C Garcia LLC(#,^)47 East Broadway, Little Falls, MN 56345Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/14/202865.2  65.2  59.9  0.02 %
Baby's on Broadway LLC(#,^)6401 Golden Triangle Drive Ste 200, Greenbelt, MD 20770Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%9/14/202844.0  44.0  42.3  0.01 %
Rihahn Inc. dba RDBL, Inc(#,^)26 Broad St., Alexander City, AL 35010Forestry and LoggingTerm LoanPrime plus 2.75%9/14/2028119.9  119.9  114.6  0.03 %
QBS, LLC dba Sterling Optical Exton(#,^)1397 McGuire Rd, Lamar, AR 72846Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/14/202871.6  71.6  64.9  0.02 %
Innovim LLC(#,^)211 W Lincoln Hwy, Exton, PA 19341Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/14/2028106.0  106.0  95.2  0.03 %
Underground Productions LLC dba 31 Escape(#,^)31567 West 10 Mile Rd, Farmington Hills, MI 48336Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/13/204396.3  96.3  110.7  0.03 %
Innovative Network Solutions Inc(#,^)1731 Decatur Hwy, Fultandale, AL 35068Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/13/2028110.1  110.1  101.7  0.03 %
Rancho Paving, Inc(#,^)339 Cypress Lane, El Cajon, CA 92020Repair and MaintenanceTerm LoanPrime plus 2.75%9/10/2028165.2  165.2  166.1  0.05 %
Pool Guard of LA(#,^)1425 S Congress Ave, Delray Beach, FL 33445Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/7/202819.8  19.8  17.9  0.01 %
NY Tent, LLC dba Tent Company of New York LLC, NY Tent Parent LLC, Dav(#,^)10866 Washington Blvd, Apartment #24, Culver City, CA 90232Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/7/2028283.4  283.4  275.1  0.08 %
50
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
MurlinComputerCompany LLC dba Murlin Computer,(#,^)140141 Lakeland Ave, Bohemia, NY 11716Repair and MaintenanceTerm LoanPrime plus 2.75%9/7/202813.7  13.7  12.6  — %
Pelican Executives Suites, LLC(#,^)3000 Erika Ave, Sedalia, MO 65301Administrative and Support ServicesTerm LoanPrime plus 2.75%9/7/2028279.3  279.3  251.1  0.08 %
Asheville Spine and Nerve Institute PC(#,^)2200 Colorado Ave Sutie 131, Santa Monica, CA 90404Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/7/204388.6  88.6  101.2  0.03 %
Dr. G's Urgent Care LLC(#,^)190 Broadway St Ste 205, Asheville, NC 28801Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/7/202819.8  19.8  17.8  0.01 %
Trolley Express Philly, Inc dba Shuttlebee &Honeybee Transportation LL(#,^)3401 Market St. Ste 200, Philadelphia, PA 19104Support Activities for TransportationTerm LoanPrime plus 2.75%9/6/202811.2  11.2  10.5  — %
Living Centers Inc. dba Veranda House Senior Living(#,^)5129 E 5th St, Katy, TX 77493Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%8/31/2043410.7  410.7  472.3  0.14 %
National Stone LTD and NSI Group Inc(#)3250 Retail Dr Ste 120, Carson City, NV 89706Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%8/31/2044270.0  270.0  312.2  0.10 %
LACCRB LLC dba PostNet(#,^)804-810 W Shady Grove Rd, Grand Prairie, TX 75050Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/30/202813.4  13.4  12.2  — %
Stat Constructor L.P(#,^)825 Courtland St., Orlando, FL 32804Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/30/202890.9  90.9  94.7  0.03 %
XL Soccer World Orlando. LLC, XL Soccer World Saco LLC, XL Sports Worl(#,^)9573 US Highway 220, Stoneville, NC 27048Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/30/2043438.2  438.2  503.8  0.15 %
Extreme Engineering, Inc.(#,^)598 Oliver Dr, Troy, MI 48084Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/29/2028109.3  109.3  99.0  0.03 %
ARVAmethod LLC(#,^)65 Hillside Rd, Fairfield, CT 06824Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/29/20282.1  2.1  1.9  — %
Kotyark LLC dba Gibsonton Motel(#,^)516 N Ogden Ave # 150, Chicago, IL 60642AccommodationTerm LoanPrime plus 2.75%8/29/204380.4  80.4  92.4  0.03 %
Greenfield Hill Wines & Spirits, LLC(#,^)11545 US Highway 41S, Gibsonton, FL 33534Food and Beverage StoresTerm LoanPrime plus 2.75%8/29/202880.5  80.5  73.1  0.02 %
JFK Transportation Inc(#,^)231 Main St., Stamford, CT 06901Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%8/28/2028140.6  140.6  128.7  0.04 %
Graphish Studio, Inc.(#,^)4 Mechanic St, Natick, MA 01760Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/28/20286.6  6.6  5.9  — %
Atlas Geo-Constructors LLC(#,^)3466 Thomasville Rd Winston, Winston-Salem, NC 27107Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/24/202865.6  65.6  66.4  0.02 %
Finn & Emma LLC(#,^)1275 Bloomfield Ave Building 5 Unit 28B, Fairfield, NJ 07004Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%8/24/2028107.9  107.9  97.0  0.03 %
Montana Life Group, LLC(#,^)8 N 9th Ave, Bozeman, MT 59715Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/24/20286.6  6.6  5.9  — %
Evans and Paul LLC, Evans & Paul Unlimited Corp(#,^)2204 Blackmoor Park Lane, Lexington, KY 40509Miscellaneous ManufacturingTerm LoanPrime plus 2.75%8/24/202876.3  76.3  70.6  0.02 %
51
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Wearware Inc dba FlyWire Cameras(#,^)140 Dupont St., Plainview, NY 11803Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%8/24/202819.7  19.7  18.0  0.01 %
Zash LLC dba Papa Murphy's take 'N' Bake Pizza(#,^)2303 White Bear Ave, Maplewood, MN 55025Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/23/202836.9  36.9  35.0  0.01 %
Buffalo Biodiesel Inc.(#,^)225 Sawyer Ave, Tonawanda, NY 14150Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%8/21/20281,076.1  1,076.1  1,086.9  0.33 %
 Ginekis Enterprises, Inc dba Locanda Veneta(#,^)8638 W Third St., Los Angeles, CA 90048Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/20/202874.3  74.3  67.1  0.02 %
Geo Tek Alaska, Inc(#,^)2756 Commercial Drive, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/17/2044124.8  124.8  138.6  0.04 %
Lewins Law, P.C.(#,^)7007 Boeing Drive, El Paso, TX 79925Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/16/202815.7  15.7  14.1  — %
ATI Jet, Inc.(#,^)7920 Belt Line Rd Ste 650, Dallas, TX 75254Air TransportationTerm LoanPrime plus 2.75%8/16/2028180.8  180.8  177.1  0.05 %
GS Bath Inc(#,^)5335 E Kaviland Ave, Fresno, CA 93725Truck TransportationTerm LoanPrime plus 2.75%8/15/2028502.8  502.8  506.9  0.15 %
Pamletics LLC dba F45(#,^)22015 IH 10 West, San Antonio, TX 78257Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/14/202838.5  38.5  36.3  0.01 %
L.A. Insurance Agency GA 10 LLC(#,^)6655 Tara Blvd Ste 401, Jonesboro, GA 30236Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/10/20289.8  9.8  8.8  — %
David D. Sullivan dba DMS Construction(#,^)6400 Charwood Place, Bakersfield, CA 93306Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/9/202811.8  11.8  10.6  — %
Crystal Shores Inc. dba Shorewood Laundromat(#,^)700 West Jefferson St., Shorewood, IL 60404Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/9/202819.5  19.5  18.3  0.01 %
Palanuk & Associates, Inc.dba Wolfpk(#,^)28110 SE Fern Drive, Boring, OR 97009Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/8/202889.6  89.6  81.1  0.02 %
CJNR, LLC(#,^)208 East Main St., Elma, WA 98541AccommodationTerm LoanPrime plus 2.75%8/7/2043118.6  118.6  136.3  0.04 %
Mercedes Cab Company, Inc(#,^)35 Alden St., Providence Town, MA 02657Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%8/7/2028113.7  113.7  105.4  0.03 %
Ron's Pool and Spa Services LLC(#,^)1419 NE 30th St., Pompano, FL 33064Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/3/20283.3  3.3  3.0  — %
Alma Jacobsen,ODD Family Eye Care & Contact Lens LLC(#,^)1700 Nottingham Way Ste 12A, Hamilton, NJ 08619Health and Personal Care StoresTerm LoanPrime plus 2.75%8/3/202852.6  52.6  48.0  0.01 %
20th Century Lanes, Inc dba West Seattle Bowl(#,^)4505 39 Ave SW, Seattle, WA 98116Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/3/202898.4  98.4  98.1  0.03 %
Millwork Unlimited, Incorporated(#,^)8264 Pine Cay Rd, Wellington, FL 33414Wholesale Electronic Markets and Agents and BrokersTerm LoanPrime plus 2.75%8/2/20286.6  6.6  5.9  — %
Accel Compression Inc., Accel Workover Services, Inc(#,^)4500 S Country Rd, Odessa, TX 79765Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/1/2043303.1  303.1  329.4  0.10 %
Accel Compression Inc., Accel Workover Services Inc. dba Mica Tool & T(#,^)1350 Travis Blvd Ste 1507A, Fairfield, CA 94533Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/1/2028404.7  404.7  400.1  0.12 %
52
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Samy Optical LLC dba Site for Sore Eyes(#,^)4500 S. Country Rd 1310, Odessa, TX 79765Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/1/202898.0  98.0  88.1  0.03 %
CSL Services Inc(#,^)7905 Browning Rd, Ste.312,314,316, Pennsauken, NJ 08109Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/27/2028475.3  475.3  452.3  0.14 %
Nunez Enterprises Corporation dba La Casa(#,^)3330 Piedmont RD NE, Atlanta, GA 30305Miscellaneous Store RetailersTerm LoanPrime plus 2.75%7/26/20287.2  7.2  6.4  — %
Relevant Elephant ,LLC(#,^)ON320 Woodvale St, Winfield, IL 60190Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/25/20285.4  5.4  4.8  — %
Fitness Central, Inc dba Fitness Central(#,^)4335 PA Route 309, Schnecksville, PA 18078Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%7/25/202854.3  54.3  49.8  0.02 %
Top Shelf Towing and Road Service, LLC(#,^)1447 Lake George Drive, Lake Mary, FL 32746Support Activities for TransportationTerm LoanPrime plus 2.75%7/24/202811.1  11.1  10.0  — %
TR Nails, LLC dba Simple Nails(#,^)25 Sycamore St., Carnegie, PA 15106Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/20/202854.2  54.2  48.7  0.01 %
ZA Trucking LLC(#,^)158 Great Rd, Bedford, MA 01730Truck TransportationTerm LoanPrime plus 2.75%7/17/20288.9  8.9  8.6  — %
674 Club LLC(#,^)5945 York Way, East Lansing, MI 48823Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/2043254.6  254.6  292.7  0.09 %
Mother's Cantina LLC dba Mother's Cantina(#,^)674 N Orleans, Chicago, IL 60654Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/13/202859.7  59.7  54.6  0.02 %
Smart-tel Communications LLC(#,^)9720 W. Colfax Ave Ste 100, Lakewood, CO 80215Administrative and Support ServicesTerm LoanPrime plus 2.75%7/13/202818.4  18.4  19.2  0.01 %
HQTRONICS LLC(#,^)2810 Philadephia Ave Unit #10, Ocean City, MD 21842Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%7/13/202854.3  54.3  48.8  0.01 %
Smoove Move Productions, LLC dba Smoove Move Productions(#,^)10135 South Roberts Rd Ste 209, Palos Hills, IL 60465Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%7/12/20289.3  9.3  9.7  — %
Talent Logistix, LLC, Pinpoint Staffing LLC & ITC 2.0 LLC(#,^)3932 North 16th St., Omaha, NE 68110Administrative and Support ServicesTerm LoanPrime plus 2.75%7/3/202854.2  54.2  50.4  0.02 %
Vital Inspection Professionals, Inc. dba VIP(#,^)6350 Shadeland Ave, Indianpolis, IN 46220Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/3/2028270.2  270.2  265.9  0.08 %
US Cargo Express, LLC(#,^)180 Airpark Industrial Rd, Alabaster, AL 35007Support Activities for TransportationTerm LoanPrime plus 2.75%7/2/204384.8  84.8  97.5  0.03 %
Bio-Haz Solutions, Inc(#,^)4735 22 Mile Rd, Utica, MI 48317Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/29/2029227.5  227.5  229.8  0.07 %
M J Losito Electrical Contractor's, Inc(#,^)23 Tonoli Rd, Nesquehoning, PA 18240Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/202819.8  19.8  18.7  0.01 %
Bio-Haz Solutions, Inc.(#,^)98 Wooster St., Bethel, CT 06801Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/29/2044361.8  361.8  381.4  0.12 %
Corptek Solutions LLC(#,^)23 Tonolli Rd, Nesquehoning, PA 18240Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/28/202840.9  40.9  36.7  0.01 %
Critter Cabana, LLC dba Critter Cabana(#,^)2363 N. Highway # 287 Ste # 111, Mansfield, TX 76063Miscellaneous Store RetailersTerm LoanPrime plus 2.75%6/28/202872.2  72.2  64.8  0.02 %
53
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
RLW4 Builders LLC(#,^)516 East Main St., Newberg, OR 97132Construction of BuildingsTerm LoanPrime plus 2.75%6/27/2043971.3  971.3  1,116.7  0.34 %
National Dredging Services of North Florida, Inc.(#,^)152 Tuckahoe Lane, Southhampton, NY 11968Repair and MaintenanceTerm LoanPrime plus 2.75%6/27/204327.9  27.9  32.1  0.01 %
National Dredging Services of North Florida, Inc.(#,^)1537 Northwest Main Blvd, Lake City, FL 32055Repair and MaintenanceTerm LoanPrime plus 2.75%6/27/202845.8  45.8  47.7  0.01 %
Julie Cooper-Bierman dba Forever Shopper(#,^)7435 Piute Creek Dr, Corona, CA 92881Nonstore RetailersTerm LoanPrime plus 2.75%6/27/202813.8  13.8  12.4  — %
Darnoc Enterprises Inc, Setira Paul Inc dba Conrad's Famous Bakery, In(#,^)1537 Northwest Main Blvd, Lake City, FL 32055Food ManufacturingTerm LoanPrime plus 2.75%6/27/2043344.3  344.3  386.2  0.12 %
InUSA Ventures, Inc(#,^)299 Utica Ave, Brooklyn, NY 11203Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%6/27/202843.1  43.1  38.6  0.01 %
Nick's Country Kitchen, LLC(#,^)3 Flanders RD, Building #1, Bethlehem, CT 06751Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/202819.4  19.4  17.7  0.01 %
Bengals, Inc. dba Royal Liquor Mart(#,^)508 Hyacinthus Court, San Ramon, CA 94582Food and Beverage StoresTerm LoanPrime plus 2.75%6/26/2043103.2  103.2  113.3  0.03 %
Peter Thomas Roth Labs LLC, & June Jacobs Labs, LLC,(#,^)3714 E State St., Rockford, IL 61108Health and Personal Care StoresTerm LoanPrime plus 2.75%6/26/2028797.1  797.1  736.6  0.22 %
Sun Pools, Inc(#,^)460 Park Ave, Floor 16, New York, NY 10022Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%6/25/2043297.2  297.2  307.2  0.09 %
Sun Pools, Inc dba Sun Fiberglass Pools(#,^)130 Holiday LN, Albany, KY 42602Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%6/25/2028673.3  673.3  626.4  0.19 %
DPF Filters Inc.(#,^)2832 Golden State Blvd, Madera, CA 93637Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/25/202859.2  59.2  54.4  0.02 %
Sushi Prime, LLC and Vasilia Investments(#,^)130 Holiday Lane, Albany, KY 42602Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/22/2028236.7  236.7  224.6  0.07 %
Martha Beauty Supply And Braiding, Inc.(#,^)721 E Westpoint Drive., Wasilla, AK 99654Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/22/2043135.5  135.5  155.6  0.05 %
The Desert House Assisted Living ,LLC dba The Desert House Assisted Li(#,^)721 E. West Point Drive, Wasilla, AK 99654Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/22/204376.4  76.4  85.7  0.03 %
Mr. Lube, Inc.(#,^)11055 E Grove St, Mesa, AZ 85208Repair and MaintenanceTerm LoanPrime plus 2.75%6/22/2028525.7  525.7  512.3  0.16 %
Mr. Lube, Inc(#,^)538 E Boughton Rd, Bolingbrook, IL 60440Repair and MaintenanceTerm LoanPrime plus 2.75%6/22/2043654.6  654.6  703.6  0.21 %
York Woods Tree Service, LLC dba York Woods Tree and Products, LLC(#,^)32 SE 2nd Ave, Delray Beach, FL 33444Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/21/2028122.8  122.8  121.7  0.04 %
Independent Life LLC(#,^)300 Harold Dow Highway, Elliot, ME 03903Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/21/2028107.0  107.0  96.0  0.03 %
York Woods Tree Service, LLC dba York Woods Tree and Products, LLC(#,^)4955 S Durango Drive, Ste124, Las Vegas, NV 89113Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/21/2043236.5  236.5  257.8  0.08 %
54
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Lilo Holdings LLC(#,^)300 Harold Dow Highway, Eliot, ME 03903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/20/202816.1  16.1  14.8  — %
Jones Roger Sherman Inn, Inc.(#,^)1000 Roosevelt Ave, Cartaret, NJ 07008Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/2028378.4  378.4  393.7  0.12 %
Colovic Hackettstown Dairy LLC(#,^)2900 North 3rd St., Effingham, IL 62401Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/2043266.9  266.9  305.5  0.09 %
Mid America Motorworks, Inc and Yager Holdings L.P(#,^)22 Route 57, Hackettstown, NJ 07840Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/19/2043485.5  485.5  557.4  0.17 %
Allen Theatre and Back Stage Cafe LLC(#,^)195 Oenoke Ridge, New Canaan, CT 06840Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%6/18/2043122.4  122.4  138.3  0.04 %
Schumacker Recreation, LLC(#,^)36 East. Main St., Annville, PA 17003Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/18/2028129.3  129.3  134.5  0.04 %
Northway Exit 29 Campground, Inc dba Adirondacks Jellystone Parks & Pa(#,^)5325 S University Drive, Davie, FL 33328AccommodationTerm LoanPrime plus 2.75%6/15/2043210.0  210.0  241.2  0.07 %
Softrol Systems Inc dba Softrol Systems(#,^)4035 Blue Ridge Rd, North Hudson, NY 12855Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/15/2028759.7  759.7  691.4  0.21 %
Oil Palace Inc.(#,^)1100 Northpoint Pkwy SE, Acworth, GA 30102Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/15/2043141.0  141.0  162.1  0.05 %
Venzix Ventures Inc. dba Venzix(#,^)10408 Highway 64 East, Tyler, TX 75707Nonstore RetailersTerm LoanPrime plus 2.75%6/15/202811.4  11.4  11.2  — %
Dianne Williams and Louis Williams dba Sweetlips Store(#,^)750 Legend Oak Drive, Fountain, CO 80817Food and Beverage StoresTerm LoanPrime plus 2.75%6/15/204344.9  44.9  50.1  0.02 %
Tele Tax Express Inc(#,^)3870 Sweet Lips Rd, Henderson, TN 38340Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/202819.4  19.4  19.4  0.01 %
Team Sandy Blanton Realty, Inc(#,^)28 Broad St., Bloomfield, NJ 07003Real EstateTerm LoanPrime plus 2.75%6/14/204394.6  94.6  100.9  0.03 %
E & J Sims Co. LLC(#,^)166 Getty Ave, Paterson, NJ 07503Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/14/202843.0  43.0  40.0  0.01 %
Mastiff Studios LLC(#,^)1225 West Gregory St, Pensacola, FL 32502Educational ServicesTerm LoanPrime plus 2.75%6/13/204341.5  41.5  47.3  0.01 %
Ciasom LLC dba Mosaic(#,^)2919 West Colorado Ave, Colorado Springs, CO 80904Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/11/2028155.1  155.1  139.9  0.04 %
Icebox Cafe, L.C. and Icebox Cafe at Doral,LLC(#,^)1040-1042 Richard Ave, Santa Clara, CA 95050Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/8/2028682.1  682.1  624.4  0.19 %
Camp K-9 Pet Resort & Spa, Inc.(#,^)1855 Purdy Ave, Miami Beach, FL 33139Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/8/20287.1  7.1  6.5  — %
Beyond Grooming LLC and Michelle McWatters(#,^)426 15th St. NW, Huron, SD 57350Miscellaneous Store RetailersTerm LoanPrime plus 2.75%6/8/204341.8  41.8  47.5  0.01 %
Skyways LTD,Jet 60 LLC,Mendean Jonath, Inc,Jet AOG, Inc & Jonathan Men(#,^)1200 Old Martindale Rd, San Marcos, TX 78666Support Activities for TransportationTerm LoanPrime plus 2.75%6/8/2043367.2  367.2  396.8  0.12 %
55
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Applied Behavioral Consulting, Inc(#,^)18501 Le Claire Ave, Tinley Park, IL 60478Social AssistanceTerm LoanPrime plus 2.75%6/7/204348.6  48.6  55.0  0.02 %
H S Corporation dba Lake Anna Lodge(#,^)422 Blooming Grove Tpke, New Windsor, NY 12553AccommodationTerm LoanPrime plus 2.75%6/7/2043127.5  127.5  146.4  0.04 %
Anurag, LLC dba Oakwood Package Store(#,^)5152 Courthouse Rd, Spotsylvania, VA 22551Food and Beverage StoresTerm LoanPrime plus 2.75%6/6/2043133.0  133.0  143.8  0.04 %
Sowells Consulting Engineers, LLC(#,^)191-195 Oakwood Ave, West Hartford, CT 06107Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/6/202819.4  19.4  17.5  0.01 %
Hardway Inc and A F C Leasing, Inc(#,^)12533 S. 73rd East Place, Bixby, OK 74008Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/6/2028253.3  253.3  227.1  0.07 %
SSD Designs LLC(#,^)13430 Northwest Freeway #260, Houston, TX 77040Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/5/202864.0  64.0  58.0  0.02 %
Funtime ,LLC dba Indoor Playgrounds International(#,^)13200 West Foxfire Drive Ste 144, Surprise, AZ 85378Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/5/2028214.9  214.9  192.9  0.06 %
BTD Feed & Nutrition, LLC dba Thomaston Feed Cheshire(#,^)10840 Bay Hill Club Drive, Charlotte, NC 28277Miscellaneous Store RetailersTerm LoanPrime plus 2.75%6/1/202843.9  43.9  39.4  0.01 %
Mastrocinque Restaurant Management Company LLC dba Santionii's Itali(#,^)3535 Highway 17 Unit 14 &15, Fleming Island, FL 32003Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/1/202854.0  54.0  54.8  0.02 %
Seraj Wireless, LLC(#,^)943 South Main St., Cheshire, CT 06410Electronics and Appliance StoresTerm LoanPrime plus 2.75%5/31/2028106.9  106.9  111.2  0.03 %
Brooks Seaplane Service Inc and Lunt Enterprises LLC(#,^)14429 South Wallin Drive, Plainfield, IL 60544Scenic and Sightseeing TransportationTerm LoanPrime plus 2.75%5/31/2028126.4  126.4  113.3  0.03 %
Awan Business Management Group LLC, Awan Sign Company lLLC &Awan Promo(#,^)132 Madison Ave, Albany, NY 12202Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/31/2043267.7  267.7  298.5  0.09 %
SSMV LLC dba Burgerim(#,^)Independence City Dock Pt, 105 Northern Blvd, Coeur d'Alene, ID 83814Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/30/202856.8  56.8  55.4  0.02 %
Eagle Aggregate Transportation, LLC(#,^)115 Pelham Rd, Ste 1, Greenville, SC 29615Truck TransportationTerm LoanPrime plus 2.75%5/30/202874.8  74.8  70.5  0.02 %
Crowley Ventures, LLC(#,^)4401 N I-35 Ste #113, Denton, TX 76207Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/202863.8  63.8  58.2  0.02 %
Iloka, Inc dba New Cloud Networks(#,^)665 Worthington Rd, Westerville, OH 43082Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/25/2028213.8  213.8  203.6  0.06 %
Adow Pools LLC(#,^)160 Inverness Drive. W Ste 150, Englewood, CO 80112Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/2028149.6  149.6  137.6  0.04 %
Ocean Breeze Holdings, LLC, Ocean Beach Resort LLC & Ocean Breeze LanC(#,^)1220 Post Rd East, Westport, CT 06880AccommodationTerm LoanPrime plus 2.75%5/25/20431,245.1  1,245.1  1,429.7  0.44 %
Starship, LLC dba Tint World Smyrna(#,^)59 West Main St, Broadalbin, NY 12025Repair and MaintenanceTerm LoanPrime plus 2.75%5/25/204395.6  95.6  108.0  0.03 %
Broadalbin Properties LLC dba Broadalbin Hotel & 1854 Pub & Eatery(#,^)393 Glenbrook Rd, Stamford, CT 06906AccommodationTerm LoanPrime plus 2.75%10/25/2043197.6  197.6  227.5  0.07 %
56
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Dream Spa LLC and Dream Spa Greenwich LLC(#,^)3 Williams Ave, Mystic, CT 06355Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/202885.0  85.0  77.1  0.02 %
Seaside Acupuncture LLC(#,^)2274 S Atlanta Rd SE, Smyrna, GA 30080Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/24/204348.5  48.5  53.7  0.02 %
DMA Equipment LLC(#,^)1041 Johnnie Dodds Blvd, Ste 2-C, Mount Pleasant, SC 29464Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/24/2043252.9  252.9  275.1  0.08 %
Chem-Flotronics, Inc.(#,^)700 Lee St., Elk Grove Village, IL 60007Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%5/22/202885.5  85.5  78.5  0.02 %
Mark A Espinoza, DDS PLLC dba Central Dental Care(#,^)195 Paterson Ave, Little Falls, NJ 07424Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/18/202853.4  53.4  47.9  0.01 %
Yakov Levy M.D., P.C.(#,^)70-31 108th St., Forest Hills, NY 11375Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/18/202828.9  28.9  26.3  0.01 %
JVLS LLC dba Vaccines 2 Go(#,^)9315 N Central Ave, Phoenix, AZ 85020Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/17/20287.1  7.1  6.3  — %
On Stage Enterprises LLC, On Stage Theaters Branson, LLC, On Stage Th(#,^)4570 W Post Rd Ste #100, Las Vegas, NV 89118Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%5/17/2028213.8  213.8  191.7  0.06 %
Joshua One Limited Liability Company dba Genesis Personal Fitness(#,^)4060 Johns Creek Pkwy, Ste H,, Suwanee, GA 30024Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/16/2043311.2  311.2  336.0  0.10 %
Clore Construction LLC(#,^)21220 FM 1420, Harlingen, TX 78550Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%5/16/2028127.9  127.9  121.3  0.04 %
Fireplace Outlet Inc(#,^)28 North State St. Unit 100, Newtown, PA 18940Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%5/15/202819.2  19.2  20.0  0.01 %
James T. Hendel dba Autotexx Mobile Auto Repair(#,^)5857 Highway101 North, Rockmart, GA 30153Repair and MaintenanceTerm LoanPrime plus 2.75%5/15/20286.4  6.4  6.7  — %
Galore Salon & Extension Lounge Inc dba Pretty Chic Hair & Lashes(#,^)8216 Main St., Williamsville, NY 14221Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/14/20283.8  3.8  3.5  — %
Bote Virginia Beach, Inc. dba Bote Virginia Beach(#,^)5714 Edmondson Pike Ste 24, Nashville, TN 37211Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%5/11/20289.6  9.6  8.7  — %
Daniel Woodward, DC PLLC dba Doc's Body Shop(#,^)1080 Nimmo Pkwy, Ste 104, Virginia Beach, VA 23454Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/11/202835.2  35.2  31.6  0.01 %
Adhara, LLC(#,^)50 Forest St. Ste 902, Stamford, CT 06901Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/11/204342.4  42.4  47.0  0.01 %
Circle and Square, Inc dba Stamford Kumon(#,^)3084 N Goliad St., Ste 114, Rockwall, TX 75087Educational ServicesTerm LoanPrime plus 2.75%5/11/202836.3  36.3  32.6  0.01 %
Baby Gentry's Childcare & Learning Academy(#,^)18123 E Appleway Ave, Spokane Valley, WA 99016Social AssistanceTerm LoanPrime plus 2.75%5/10/20289.6  9.6  8.7  — %
Buy Gitomer Inc., Gitgo LLC.,GitGo Archives, LLC, and Jeffrey Gitomer(#,^)4203 Shenandoah Drive, Dayton, OH 45417Educational ServicesTerm LoanPrime plus 2.75%5/9/2043702.9  702.9  807.1  0.25 %
57
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Schmaltz Operations LLC dba Companion Camp(#,^)35 Lafayette Rd Ste #8, North Hampton, NH 3862Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/7/202851.3  51.3  50.3  0.02 %
Container Shipping, LLC(#,^)310 Arlington Ave Unit 329, Charlotte, NC 28203Support Activities for TransportationTerm LoanPrime plus 2.75%5/4/202842.8  42.8  38.3  0.01 %
Wilbur Standford Jr Trucking and Excavating, LLC(#,^)2050 S. Beltline Rd, Mesquite, TX 75181Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/3/2028205.2  205.2  204.8  0.06 %
Olmsted LLC and 626 Van LLC dba Maison Yaki(#,^)3408 Castle Rock Farm Rd, Pittsboro, NC 27312Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/1/2029211.3  211.3  195.8  0.06 %
Metropolitan Solutions Inc.(#,^)533 Nova Rd Ste 213B, Ormond Beach, FL 32174Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/2043171.7  171.7  177.8  0.05 %
Brenden Kehren Development LLC(#,^)7505 North Chases Lake Rd, Watson, NY 13343Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/20282.5  2.5  2.3  — %
Corona Dance, LLC dba Huracan Dance Studio(#,^)747 South Hill St., Griffin, GA 30223Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%4/30/202810.1  10.1  9.1  — %
Saltamontes Tire Company, LLC(#,^)659 Vanderbilt Ave, Brooklyn, NY 11238Repair and MaintenanceTerm LoanPrime plus 2.75%4/30/204399.3  99.3  110.3  0.03 %
Sunlinc Inc(#,^)14689 Gemara Rd, Sparta, WI 54656Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/20288.3  8.3  7.4  — %
Rory James Contracting LLC(#,^)1420 Chestnut St., Portsmouth, VA 23704Construction of BuildingsTerm LoanPrime plus 2.75%4/27/202813.6  13.6  12.2  — %
Kastoria Inc. dba Bantam Pizza(#,^)1955 Boston Ave, Brodgeport, CT 06604Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/202812.7  12.7  11.5  — %
Suraj Enterprises, Inc.(#,^)480 West Main St., Stamford, CT 06902Food and Beverage StoresTerm LoanPrime plus 2.75%4/27/2028264.8  264.8  256.2  0.08 %
Little Angels Daycare and Learning Center LLC(#,^)170 Canterbury Court, East Windsor, NJ 08520Social AssistanceTerm LoanPrime plus 2.75%4/27/2043155.6  155.6  178.7  0.05 %
LMH Optics LLC dba Sterling Optical(#,^)11720 W. Airport Rd, Meadows Place, TX 77477Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/26/202842.4  42.4  38.1  0.01 %
Matrix Z, LLC(#,^)33 Bennett Place, Amityville, NY 11701Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%4/26/202867.0  67.0  67.7  0.02 %
Pledge 4 Hope LLC(#,^)768 Bantam Rd, Bantam, CT 06750Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%4/26/202812.7  12.7  11.5  — %
RWT Corporation dba Welding Works(#,^)4551 Summit Blvd, West Palm Beach, FL 33415Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/26/2028440.7  440.7  413.6  0.13 %
K&S Hardware LLC(#,^)1272 Smallwood Dr West, Waldorf, MD 20603Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%4/26/202819.1  19.1  17.1  0.01 %
RWT Corporation dba Welding Works(#,^)32 New Rd, Madison, CT 06443Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/26/2043205.9  205.9  214.3  0.07 %
Joe & Sons Service, Inc(#,^)53 Bayberry Loop South, Purvis, MS 39475Repair and MaintenanceTerm LoanPrime plus 2.75%4/24/202895.5  95.5  99.3  0.03 %
Spitnale's Garage LLC(#,^)800 SW 21st Terrace, Ft Lauderdale, FL 33312Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/204358.3  58.3  64.2  0.02 %
58
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Just for Boats LLC(#,^)32 New Rd, Madison, CT 06443Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/204317.0  17.0  19.5  0.01 %
Nando LLC dba Tall Timbers Banquet and Conference Center(#,^)1865 W Wayzata Blvd, Long Lake, MN 55356Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/20/202817.2  17.2  15.8  — %
Means Enterprises LLC(#,^)855 Atwood Ave, Cranston, RI 2920Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%4/18/20286.4  6.4  5.8  — %
James L Shoemaker APCC(#,^)459 Dupre Rd, McClellanville, SC 29458Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/18/202813.6  13.6  12.2  — %
Veterinary Preventive Care, LLC(#,^)13831 National Rd SW, Reynoldsburg, OH 43068Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/18/202839.7  39.7  37.0  0.01 %
A New Dawn Psychotherapy Associates, LLC(#,^)3761 Mahoning Ave, Youngstown, OH 44515Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/18/204384.8  84.8  91.2  0.03 %
Rosemarie Products Company LLC(#,^)5400 Crooked Tree Drive, Mason, OH 45040Health and Personal Care StoresTerm LoanPrime plus 2.75%4/18/202812.7  12.7  11.4  — %
Southern HVAC LLC(#,^)4150 Legacy Drive N Ste # 412, Frisco, TX 75034Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/204321.8  21.8  23.2  0.01 %
Southern Oaks Athletic Club, LLC(#,^)221 W Judge Perez Drive, Chalmette, LA 70043Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/17/2043355.1  355.1  401.5  0.12 %
Southern HVAC LLC(#,^)308 E Broad St, Bethlehem, PA 18018Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/202833.6  33.6  32.5  0.01 %
1301 Starks Inc.(#,^)945 Riverview Ct, Xenia, OH 45385Food and Beverage StoresTerm LoanPrime plus 2.75%4/16/202819.1  19.1  19.7  0.01 %
Patricia A. Freeman & Samuel C. Freeman dba Teenas Pizza(#,^)119 Ouachita 212, Camden, AZ 71701Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/13/204341.2  41.2  45.7  0.01 %
Precision Components Group Inc(#,^)15253 Shenandoah Ave, BATON ROUGE, LA 70817Miscellaneous ManufacturingTerm LoanPrime plus 2.75%4/11/202819.1  19.1  18.7  0.01 %
Sexy Nails Center LLC(#,^)119 Ouachita 212, Camden, AR 71701Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/10/2043196.1  196.1  222.6  0.07 %
Mark Baker(#,^)1301 West Atkinson Ave, Milwaukee, WI 53206Truck TransportationTerm LoanPrime plus 2.75%4/9/20288.3  8.3  7.8  — %
Innovation Transport LLC(#,^)35 E Main St., Pekin, IN 47165Truck TransportationTerm LoanPrime plus 2.75%4/6/202843.5  43.5  42.6  0.01 %
Newsome Mobile Notary LLC(#,^)190 Doty Circle, West Springfield, MA 01089Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/5/20284.4  4.4  4.0  — %
Shree Lakshminarayyn Grocery Stores LLC(#,^)57 Passaic St., Garfield, NJ 07026Gasoline StationsTerm LoanPrime plus 2.75%4/5/2043116.2  116.2  129.5  0.04 %
Bean City Bar and Grill LLC(#,^)1653 Evalie Dr, Fairfield, OH 45014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/4/204377.5  77.5  88.3  0.03 %
Master Roofing and Siding Inc.(#,^)1 International Blvd, Ste 400, Mahwah, NJ 07495Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/30/2028223.1  223.1  200.1  0.06 %
B&C Texas Leasing Inc.,M & W Hot Oill, Inc(#,^)8153 12th Ave SW, Seattle, WA 98106Truck TransportationTerm LoanPrime plus 2.75%3/30/2043261.1  261.1  281.1  0.09 %
America's Little Leaders Academy, Inc(#,^)3307 Charles St., Rockford, IL 61108Social AssistanceTerm LoanPrime plus 2.75%3/30/204321.8  21.8  24.4  0.01 %
59
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Michael S Brown Physical Therapy, P.C(#,^)N 2505 Bean City Rd, New London, WI 54961Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/30/202882.4  82.4  73.9  0.02 %
Fifth Wheel Truck Stop 001(#,^)229 Whitney Rd Unit B, Anchorage, AK 99501Gasoline StationsTerm LoanPrime plus 2.75%3/30/20431,106.0  1,106.0  1,175.7  0.36 %
Alaska Industrial Paint LLC(#,^)5772 Miami Lakes Drive East, Miami, FL 33014Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/2028105.0  105.0  107.1  0.03 %
Romancing the Stone(#,^)8124 Sprague Rd, Odessa, TX 73764Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/30/2043337.2  337.2  369.6  0.11 %
Boulevard Books Inc.(#,^)3767 S Golden State Blvd, Fresno, CA 93725Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/30/204386.3  86.3  99.1  0.03 %
Alaska Industrial Paint LLC(#,^)229 Whitney Rd, Unit B, Anchorage, AK 99501Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/2043215.7  215.7  239.6  0.07 %
GQ Investments,LLC(#,^)140 Centre of New England Blvd, Coventry, RI 2816Electrical Equipment, Appliance, and Component ManufacturingTerm LoanPrime plus 2.75%3/30/2028177.2  177.2  162.7  0.05 %
Technical Ordnance Solutions,LLC(#,^)8124 Sprague Rd, Odessa, TX 79764Fabricated Metal Product ManufacturingTerm Loan7.75%3/30/20281,083.9  1,083.9  883.6  0.27 %
Payne's Environmental Services LLC(#,^)300 Hempstead Tpke Ste. 3 & 4, Hempstead, NY 11552Administrative and Support ServicesTerm LoanPrime plus 2.75%3/30/2028190.8  190.8  185.5  0.06 %
B&C Texas Leasing Inc and M&W Hot Oil, Inc.(#,^)1195 Castleton Ave, Staten Island, NY 10310Truck TransportationTerm LoanPrime plus 2.75%3/30/2028825.2  825.2  808.5  0.25 %
Kaz Wellness, LLC dba Grounded Wellness Center(#,^)25 Robert Pitt Dr Ste 213, Monsey, NY 10952Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202813.4  13.4  12.6  — %
Lou & Choo Enterprises Inc.(#,^)2570 NW 152nd Terrace, Opa-Locka, FL 33054Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/2044104.9  104.9  113.2  0.03 %
Cartwright Termite & Pest Control Inc. and Cartwright Termite &Pest Co(#,^)9950 Business Circle, Ste 13, Naples, FL 34112Administrative and Support ServicesTerm LoanPrime plus 2.75%3/28/2028188.0  188.0  181.7  0.06 %
Clancy 15 LLC and Allied Molded Products LLC(#,^)5617 Causeway Blvd, Tampa, FL 33619Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/28/2028130.0  130.0  126.3  0.04 %
Montage Mountain Resorts, LP(#,^)104 Clover Court, Bartlett, IL 60103Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/28/20431,208.9  1,208.9  1,388.1  0.42 %
Corning Lumber Company Inc & Frank R Close & Son Inc dba True Valley C(#,^)4111 Ellison St. NE, ALBUQUERQUE, NM 87109Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/28/202873.7  73.7  76.5  0.02 %
Clancy 15 LLC and Allied Molded Products LLC(#,^)2101 West Hunting Park Ave, Philadelphia, PA 19140Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/28/2043207.8  207.8  222.8  0.07 %
K.C. Communications, Inc.(#,^)1376 Broadway, El Cajon, CA 92021TelecommunicationsTerm LoanPrime plus 2.75%3/27/202852.6  52.6  54.6  0.02 %
Towing Professionals of Arizona Inc dba Shamrock Towing & All Valley I(#,^)1000 Montage Mountain Rd, Scranton, PA 18505Support Activities for TransportationTerm LoanPrime plus 2.75%3/26/2043521.0  521.0  541.8  0.17 %
Towing Professionals of Arizona Inc dba Shamrock Towing, All Valley Im(#,^)1145 13th Ave East, Palmetto, FL 34221Support Activities for TransportationTerm LoanPrime plus 2.75%3/26/2028126.3  126.3  118.2  0.04 %
60
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Denton BioFuels LLC and Amercian BioSource, LLC(#,^)111 E. Laurel St., Willows, CA 95988Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202875.1  75.1  71.9  0.02 %
Cable Management, LLC(#,^)1145 13th Ave East, Palmetto, FL 34221Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202867.7  67.7  67.4  0.02 %
Aque Investment Group LLC(#,^)2715 Saturn St., Brea, CA 92821Real EstateTerm LoanPrime plus 2.75%3/23/2028223.6  223.6  232.1  0.07 %
All Regional Recyclers of Wood LLC dba ARROW(#,^)2801 W Osborn Rd, Phoenix, AZ 85017Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/2028110.5  110.5  107.8  0.03 %
Shweiki Media Inc dba Study Breaks Magazine(#,^)2801 W Osborn Rd, Phoenix, AZ 85017Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/23/202863.2  63.2  65.5  0.02 %
Sunshine Tents and Event Rentals LLC(#,^)104 Wooster St., Bethal, CT 06801Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/23/202852.0  52.0  54.0  0.02 %
Kajun Martial Arts LLC(#,^)200 Pratt St., Meriden, CT 06450Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/23/202818.9  18.9  17.3  0.01 %
New York Label & Box Corp(#,^)3838 N. Sam Houston Pkwy E, Houston, TX 77032Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/23/20431,208.9  1,208.9  1,332.2  0.41 %
Sofasco, Inc(#,^)624 W. University Drive.#359, Denton, TX 76201Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/23/204396.7  96.7  102.9  0.03 %
GeoTek Alaska, Inc(#,^)4954 Space Center Drive, San Antonio, TX 78218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/21/2043822.0  822.0  908.2  0.28 %
Rexco Foods LLC dba Papa John's(#,^)2322 SW 58th Terrace, West Park, FL 33023Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/20/202835.8  35.8  32.0  0.01 %
RTSP Union LLC(#,^)50 Oval Drive, Islandia, NY 11749Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%9/20/20281,060.4  1,060.4  1,014.6  0.31 %
Cest Chic Concepts, LLC dba Salon Cest Chic(#,^)182 Garber Lane, Winchester, VA 22602Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/19/20289.5  9.5  8.7  — %
Camerabots Media, LLC(#,^)36546 Mission St., Prairieville, LA 70769Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/16/202812.6  12.6  11.6  — %
Petroleum Equipment & Services, Inc(#,^)2756 Commercial Drive, Anchorage, AK 99501Support Activities for MiningTerm LoanPrime plus 2.75%3/16/2028210.5  210.5  218.6  0.07 %
Rojenco II,Inc.(#,^)2438 Route 22 East, Union, NJ 07083Repair and MaintenanceTerm LoanPrime plus 2.75%9/15/204374.6  74.6  83.5  0.03 %
Bear Bones, Inc.(#,^)18640 Fm 1488 Ste C, Magnolia, TX 77354Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%3/15/204321.8  21.8  24.6  0.01 %
Rojenco, Inc. dba Buggy Bathe Auto Wash Lube & Detail Shoppe(#,^)15231 Hall Station Rd Unit 104, Bowie, MD 20721Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2043501.9  501.9  560.5  0.17 %
CTD Operations Inc(#,^)4501 Ford Ave Ste 207, Alexandria, VA 22302Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/202856.1  56.1  51.3  0.02 %
Rojenco, Inc. dba The Buggy Bathe Auto Wash Lube & Detail Shoppe(#,^)5631 Silverado Way Unit G, Anchorage, AK 99518Repair and MaintenanceTerm LoanPrime plus 2.75%9/15/204374.6  74.6  83.5  0.03 %
Rojenco II, Inc.(#,^)43 Libson St., Lewiston, ME 04240Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2043389.2  389.2  434.6  0.13 %
61
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Summit Insights Group LLC(#,^)4357 Shore Drive, Virginia Beach, VA 23455Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/14/202838.2  38.2  34.2  0.01 %
Dante Ultimate Cleaning Service LLC(#,^)2217 Richmond Rd, Williamsburg, VA 23188Administrative and Support ServicesTerm LoanPrime plus 2.75%3/9/20288.6  8.6  8.3  — %
2b Mom Inc dba Mom's the Word Maternity(#,^)219 Saint Nazaire Rd STE G, Broussard, LA 70518Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%3/9/202881.8  81.8  73.3  0.02 %
SRG Waterfront LLC(#,^)2217 Richmond Rd, Williamsburg, VA 23188Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/9/2028244.7  244.7  222.5  0.07 %
Integrity Machinery Moving, LLC(#,^)4357 Shore Drive, Virginia Beach, VA 23455Support Activities for TransportationTerm LoanPrime plus 2.75%3/8/202818.9  18.9  19.7  0.01 %
Treft Systems Inc(#,^)19 Briant Pkwy, Summit, NJ 07901Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/8/202812.6  12.6  11.4  — %
Unpainted Arizona, LLC dba Westside Bowl(#,^)16969 River Park Dr, Covington, LA 70345Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/7/2043101.4  101.4  111.1  0.03 %
Espinoza & Salinas Group Ltd dba Credit 360 Consulting(#,^)88 District Square SW, Washington, DC 20005Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/2/20284.2  4.2  3.9  — %
BC Bishop Enterprises LLC dba 9Round Pooler(#,^)3150 18th St., Ste 435, San Francisco, CA 94110Educational ServicesTerm LoanPrime plus 2.75%3/2/20287.1  7.1  6.5  — %
Stepping Stones Childrens Academy(#,^)9125 North Time Oil Rd, Portland, OR 97203Social AssistanceTerm LoanPrime plus 2.75%3/2/2043246.1  246.1  276.9  0.08 %
The Law Offices of Samuel R Miller LLC(#,^)1050 Kings Highway North Ste #107, Cherry HIll, NJ 08034Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/28/2043114.9  114.9  131.8  0.04 %
Connie Engelbrecht(#,^)2617 Mahoning Ave, Youngstown, OH 44509Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%2/28/20282.5  2.5  2.3  — %
Merciful Heavenly Homes, LLC(#,^)13722 Jamboree Rd, Irvine, CA 92602Nursing and Residential Care FacilitiesTerm Loan8%2/28/204362.9  62.9  58.5  0.02 %
Urban Fitness Group LLC dba Crunch Fitness Group LLC(#,^)17806 IH 10Ste 300, SAN ANTONIO, TX 78257Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/28/2028187.1  187.1  194.3  0.06 %
Carey Collision Repairs Inc.(#,^)105-107 Grand Central Blvd, Pooler, GA 31322Repair and MaintenanceTerm LoanPrime plus 2.75%2/27/202862.6  62.6  57.7  0.02 %
Betty's Catering Corp, Betty's Decoration & Wedding Center Inc.(#,^)720 Rancho Del Norte Drive, Las Vegas, NV 89031Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/26/2043343.2  343.2  393.5  0.12 %
Purely Seed LLC(#,^)20640 Raven Drive, Eagle River, AK 99577Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%2/26/2028104.4  104.4  93.4  0.03 %
Carries Cakes and Catering, Inc dba Carrie's Cakes and Confections(#,^)7405 Lake Worth Rd, Lake Worth, FL 33467Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/23/20284.1  4.1  3.7  — %
Jackpine Technologies Corporation(#,^)401 Dillar's Mill Rd, Tyner, NC 27980Publishing Industries (except Internet)Term LoanPrime plus 2.75%2/22/202831.0  31.0  32.2  0.01 %
Crossfit iQ LLC(#,^)2800 S IH-35, Ste 220, Round Rock, TX 78681Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/21/202835.5  35.5  32.7  0.01 %
62
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Wellfleet Consulting Inc.(#,^)295 D Bucheimer Rd, Fredrick, MD 21701Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/21/202812.5  12.5  11.2  — %
New View Media Group LLC(#,^)11515 Lake Lane, Ste 102, Chisago, MN 55013Publishing Industries (except Internet)Term LoanPrime plus 2.75%2/16/202868.9  68.9  71.6  0.02 %
Town & Country Transportation Co.(#,^)94-33 Corona Ave, Corona, NY 11373Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/16/202855.3  55.3  57.4  0.02 %
Lulinjett LLC dba All American Printing & Design(#,^)4308 Holland Rd, Virginia Beach, VA 23452Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%2/14/2043102.5  102.5  117.6  0.04 %
Margab Inc dba Smoothie King(#,^)Mill & Main Building 2 Ste 640, Maynard, MA 01754Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/13/202810.6  10.6  9.8  — %
JumboMarkets, Inc.(#,^)346 Pike Rd, Bay 8 & 9, West Palm Beach, FL 33411Food and Beverage StoresTerm LoanPrime plus 2.75%2/13/2028173.3  173.3  161.1  0.05 %
Tony Herring & Associates, Inc.(#,^)2275 Research Blvd Ste 500, Rockville, MD 20850Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%2/9/20286.9  6.9  7.1  — %
Start "UP "Dreams, Inc dba SDC Concrete and Start"UP" Dream Constructi(#,^)1 Old Wolfe Rd Ste 205, Budd Lake, NJ 07828Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/9/202862.5  62.5  59.4  0.02 %
Quality Machine of Iowa, Inc(#,^)191-193 Arch St., New Britain, CT 06051Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%2/9/20281,144.4  1,144.4  1,115.9  0.34 %
Apps Inc., Market Share, and Singular Leaseholdings LLC(#,^)4621 Bayshore Rd, Fort Myers, FL 33917TelecommunicationsTerm LoanPrime plus 2.75%2/8/2028436.6  436.6  390.7  0.12 %
De La Vega LLC dba De La Vega Deland and De La Vega Oviedo(#,^)15500 SW Trail Drive, Indiantown, FL 34956Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/7/202865.3  65.3  60.9  0.02 %
Macrotech Integrated Management Solutions dba Extreme Lawn Care(#,^)14200 SW 8th St Unit #102, Miami, FL 33184Repair and MaintenanceTerm LoanPrime plus 2.75%2/5/202810.0  10.0  10.4  — %
Midlothian Hardware Inc dba Grills True Value(#,^)211 West Camellia Drive, Slidell, LA 70458Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%2/2/202812.5  12.5  13.0  — %
Chace Building Supply of CT Inc.,(#,^)1040 4th Ave, Audubon, IA 50025Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%1/31/2043289.0  289.0  331.3  0.10 %
USA General Investment LLC dba Braniff Paint and Body Shop(#,^)30521 134th St SE, Sultan, WA 98294Repair and MaintenanceTerm LoanPrime plus 2.75%1/31/202812.4  12.4  11.5  — %
Rocco'sLandscaping LLC(#,^)800 Village Walk #159, Guilford, CT 06437Administrative and Support ServicesTerm LoanPrime plus 2.75%1/31/204372.3  72.3  82.9  0.03 %
WydeBodi, LLC dba Wyde Bodi Auto Tags(#,^)128 North Woodland Blvd, Deland, FL 32720Support Activities for TransportationTerm LoanPrime plus 2.75%1/30/204345.8  45.8  51.0  0.02 %
New Phaze Packaging Inc(#,^)2425 Durrance LN, Ormond Beach, FL 32174Paper ManufacturingTerm LoanPrime plus 2.75%1/26/2043924.9  924.9  1,057.8  0.32 %
Concrete Services LLC and James Ward(#,^)4751 West 147th St., Midlothian, IL 60445Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/25/202882.8  82.8  78.9  0.02 %
Parati USA Inc(#,^)1345 North Shepherd Dr, Houston, TX 77008Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%1/25/202814.0  14.0  12.5  — %
63
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Southside BBQ Corp(#,^)90 Route 171, Woodstock, CT 06281Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/25/202816.2  16.2  16.8  0.01 %
Flair Interiors, Inc dba Giant Don's Flooring America(#,^)151 Kitts Lane, Newington, CT 06111Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%1/24/2028113.9  113.9  118.3  0.04 %
Tier1 Solutions LLC(#,^)2290 NW 21st Terrace, Miami, FL 33142Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/23/20286.2  6.2  5.7  — %
Friend Contractors, LLC(#,^)706 North 37th St., Philadelphia, PA 19104Construction of BuildingsTerm LoanPrime plus 2.75%1/19/2043224.2  224.2  246.3  0.08 %
Lavish Specs Inc(#,^)9533 Irondale Ave, Los Angeles, CA 91311Machinery ManufacturingTerm LoanPrime plus 2.75%1/19/20286.2  6.2  5.6  — %
Weeping Willow Kennels, Inc.(#,^)1018 Wilt Ave, Ridgefield, NJ 07657Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/19/20288.7  8.7  9.0  — %
MedWorxs Inc.(#,^)24 County Rd 901, Jemison, AL 35085Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/18/202865.2  65.2  58.4  0.02 %
Lou & Choo Enterprises Inc dba Lou & Choo Lounge(#,^)16032 South Highway 16, Cherokee, TX 76832Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/18/2043110.9  110.9  121.0  0.04 %
Specialized Dairy Processors LLC and Nathaly Zapata(#,^)7725 Old Seward Highway, Anchorage, AK 99502Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/16/202853.9  53.9  48.2  0.01 %
Work of Heart Inc dba Little Nest Portraits(#)1000 Essington Rd, Juliet, IL 60435Professional, Scientific, and Technical ServicesTerm Loan7.5%1/10/20285.2  5.2  4.2  — %
Impress Therapeutic Massage LLC(#,^)262 Glen St., Glen Cove, NY 11542Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/8/204360.7  60.7  68.1  0.02 %
Human Resource Time Manager LLC(#,^)1950 Mill Bay Rd, Kodiak, AK 99615Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/8/202812.8  12.8  13.3  — %
Sandfree Systems LLC(#,^)6041 Hammond School Rd, Salisbury,, MD 21804Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/5/20286.2  6.2  6.5  — %
Crad Holding LLC dba Neighborhood Laundry of Bloomfield(#,^)2101,2103 & 2105 West Hunting Park Ave, Philadelphia, PA 19140Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/5/202851.8  51.8  46.7  0.01 %
Farec, Inc(#)6857 Timbers Dr., Evergreen, CO 80439Amusement, Gambling, and Recreation IndustriesTerm Loan7.5%12/29/2042242.4  242.4  222.1  0.07 %
Social Link LLC(#,^)2200 N Commerce Pkwy, Weston, FL 33326Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/20279.2  9.2  9.0  — %
Morrocco Method, Inc(#,^)3145 Suntree Blvd Ste 102, Rockledge, FL 32955Chemical ManufacturingTerm LoanPrime plus 2.75%12/27/2042700.7  700.7  811.8  0.25 %
Anderson Farms Inc(#)2737 Humphrey St., East Elmhurst, NY 11369Truck TransportationTerm Loan7.5%12/22/20274,304.3  4,304.3  3,805.9  1.16 %
Medical Plaza of Boro Park PC(#,^)116 Cricket Ave Ste B, Ardmore, PA 19003Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/202749.4  49.4  47.9  0.01 %
O'Rourke's Diner, LLC(#,^)60 Dodd St., Bloomfield, NJ 07003Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/22/20273.1  3.1  3.2  — %
Dudeck Enterprise LLC dba Detail Garage Las Vegas(#,^)41Peabody St., Nashville, TN 37210Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/22/202713.4  13.4  14.0  — %
Muckamuck Trucks, Inc.(#,^)30250 W Nine Mile Rd, Farmington, MI 48336Truck TransportationTerm LoanPrime plus 2.75%12/22/202711.3  11.3  11.5  — %
64
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Lab Partner, LLC and Beechtree Diagnostics, LLP and Cottonwood Diag(#,^)800 Farroll Rd, Grover Beach, CA 93433Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/22/2027639.5  639.5  624.5  0.19 %
Landmark Ventures USA Inc(#,^)510 S Spring St., Ukiah, CA 95482Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%12/22/202751.4  51.4  49.8  0.02 %
Salida Family Chiropractic-PPLC dba Salida Sport and Spine(#,^)728 Main St., Middleton, CT 06457Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/20279.9  9.9  9.6  — %
Jacliff Investments Inc dba International Heal(#,^)2360 South Rainbow Blvd, Ste 3, Las Vegas, NV 89146Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/22/202741.1  41.1  39.8  0.01 %
CT Auto Spa LLC(#,^)271 West Highway 30, Burley, ID 83318Repair and MaintenanceTerm LoanPrime plus 2.75%12/21/2027176.4  176.4  185.0  0.06 %
Blue Lagoon Resort, LLC dba Hill View Cottages(#,^)1266 51St 1st Floor, Brooklyn, NY 11219AccommodationTerm LoanPrime plus 2.75%12/21/2042181.1  181.1  211.8  0.06 %
DHD Enterprise LLC dba Edible Arrangements #1699(#,^)12351 Gateway Park Place, Draper, UT 84020Miscellaneous Store RetailersTerm LoanPrime plus 2.75%12/21/202718.7  18.7  18.6  0.01 %
DBMS Consulting, Inc.(#,^)203 G St., Salida, CO 81201Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202761.6  61.6  62.7  0.02 %
Auto Excellance of Fort Myers Inc.(#,^)475 Park Ave South 25th Floor, New York, NY 10016Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/19/2042102.3  102.3  119.6  0.04 %
Best Quality Home Care LLC(#,^)2355 South 1070 West, Ste D, Salt Lake City, UT 84119Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/19/20275.7  5.7  5.5  — %
Legion Bowl, Inc & Legion Pub Inc(#,^)39 Albany Turnpike, West Simsbury, CT 06092Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/15/2042320.9  320.9  375.3  0.11 %
1-0 Granny's Helpful Hands, LLC(#,^)3670 Lake Shore Drive, Lake George, NY 12845Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/15/202718.5  18.5  18.0  0.01 %
Ocean Trans LLC & Dehal Trucking LLC(#,^)828 Washington Ave, Miami Beach, FL 33139Truck TransportationTerm LoanPrime plus 2.75%12/15/2042598.7  598.7  670.6  0.20 %
Capital Containers LLC(#,^)164 West 83rd St.- Units CF1 and CF2, New York, NY 10024Truck TransportationTerm LoanPrime plus 2.75%12/15/202713.0  13.0  12.8  — %
JMD Aviation Holdings, LLC(#,^)317 S Berry St., Centralia, WA 98531Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/15/2027410.9  410.9  431.0  0.13 %
Peanut Butter & Co., Inc(#,^)3105 Fowler St., Fort Myers, FL 33901Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/15/2027184.9  184.9  179.2  0.05 %
KR Calvert & Co, LLC(#,^)1415 W. Anderson St., Stockton, CA 95206Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/14/2027429.5  429.5  417.2  0.13 %
Atlas Geo-Constructors, LLC(#,^)7610 Auburn Blvd #4B, Citrus Heights, CA 95610Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/14/2027249.8  249.8  255.5  0.08 %
Royalty Freight Inc(#,^)119 West 57th St., Ste 300, New York, NY 10019Truck TransportationTerm LoanPrime plus 2.75%12/14/2027548.6  548.6  531.7  0.16 %
AADJ Empire Inc and AADJ Galaxy Inc.(#,^)8050 North West 90th St., Medley, FL 33166Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/2042174.5  174.5  197.3  0.06 %
65
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Heung Kyun Im(#,^)705 East Lake St., Minneapolis, MN 55407Nonstore RetailersTerm LoanPrime plus 2.75%12/14/202712.7  12.7  12.3  — %
LP Industries Inc. dba Childforms(#,^)661 Park St., Cranston, RI 2910Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%12/14/202761.4  61.4  63.1  0.02 %
Hana Pastries Enterprises LLC dba Hana Kitchens, Hana Pastries, Inc. d(#,^)148 West 24th St., New York, NY 10011Food ManufacturingTerm LoanPrime plus 2.75%12/14/202779.3  79.3  82.3  0.03 %
Beale Street Blues Company Inc.dba B.B. King's Club-Memphis(#,^)149 Monroe Ave, Memphis, TN 38103Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/2027827.9  827.9  806.0  0.25 %
Barcade Holdings, LLC ,Barcade LLC,& Barcade New Haven LLC(#,^)2040 Norwood St. SW, Lenoir, NC 28645Management of Companies and EnterprisesTerm LoanPrime plus 2.75%12/14/202751.8  51.8  50.7  0.02 %
Hardway Inc & AFC Leasing Inc(#,^)34 35th St., Brooklyn, NY 11232Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/13/2027737.0  737.0  714.3  0.22 %
Nichols Fire and Security LLC(#,^)3466 Thomasville Rd, Winston Salem, NC 27107Administrative and Support ServicesTerm LoanPrime plus 2.75%12/13/204284.2  84.2  96.2  0.03 %
LPB LPB Property Management Inc dba Wilderness View Cabins & Ellijay C(#,^)3728 W Mckinley Ave, Fresno, CA 93722Real EstateTerm LoanPrime plus 2.75%12/12/204296.2  96.2  112.5  0.03 %
Sky Way Enterprises, Inc, A-Liner-8-Aviation, Inc, Kissimmee Aviation(#,^)113 Seaboard Lane #C-270, Franklin, TN 37067Air TransportationTerm Loan8.25%12/12/2027446.7  446.7  392.4  0.12 %
Jai Ganeshai LLC, Mahiveera 1 LLC, Mahiveera 2 LLC & KSVP LLC(#,^)1599 Post Rd, Warwick, RI 2888Gasoline StationsTerm LoanPrime plus 2.75%12/12/202740.8  40.8  39.5  0.01 %
Clore Construction LLC(#,^)6235 Conlan Bay Drive, Houston, TX 77041Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/12/2027378.6  378.6  385.4  0.12 %
Big Picture Group LLC(#,^)12533 S. 73rd E. Place, Bixby, OK 74008Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/12/2027308.0  308.0  305.6  0.09 %
The Ohio Valley Group Inc dba Ohio Valley Landscapes & Design(#,^)1906 Vanderhorn Drive, Memphis, TN 38134Administrative and Support ServicesTerm LoanPrime plus 2.75%12/12/202712.3  12.3  12.2  — %
A-1 Van Services Inc(#,^)498 Wilderness View, Chatsworth, GA 30705Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/12/2027591.2  591.2  604.7  0.18 %
Clear Sound Communications, Inc(#,^)21220 FM 1420, Harlingen, TX 78550Administrative and Support ServicesTerm LoanPrime plus 2.75%12/8/20273.1  3.1  3.0  — %
AV Strategy Inc(#,^)154 Sandy Creek Rd, Verona, PA 15147Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/8/2027363.6  363.6  365.9  0.11 %
JVLS LLC dba Vaccines 2 Go(#,^)3031 Patrick St, Kissimmee, FL 34741Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/7/202712.3  12.3  11.9  — %
Kim Howard Corp dba NPN Machine Tools(#,^)1120 Wren School Rd, Piedmont, SC 29673Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/7/2042562.5  562.5  657.3  0.20 %
66
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
IHC Hardware Inc.(#,^)935 N La Jolla, Los Angeles, CA 90046Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%12/6/204296.3  96.3  108.2  0.03 %
ODS Inc(#,^)16965 Park Circle Drive, Chagrin Falls, OH 44023Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/6/202740.3  40.3  40.3  0.01 %
Healthcare Interventions, Inc dba Brightstar Healthcare of & Brightsta(#,^)680 Old Medford Ave, Medford, NY 11763Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/4/202712.3  12.3  11.9  — %
Oil Palace, Inc.(#,^)9468 American Eagle Way Ste 100, Orlando, FL 32837Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/4/2042950.7  950.7  1,112.0  0.34 %
Salud Bar & Grill LLC(#,^)4060 Johns Creek Pkwy, Ste H, Suwanee, GA 30024Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/1/202746.2  46.2  44.9  0.01 %
Linda Jean Howard Riley dba The Rusty Bolt(#,^)9130 Wayfarer Lane, Houston, TX 77075Miscellaneous Store RetailersTerm LoanPrime plus 2.75%12/1/204220.2  20.2  23.6  0.01 %
Utara LLC(#,^)614 Broad St., Story City, IA 50248Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/1/202719.1  19.1  19.1  0.01 %
Square1 Partners, LLC(#,^)626 N Delsea Drive, Glassboro, NJ 08028Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/1/202751.2  51.2  49.6  0.02 %
Fortress Verve Inc, Maurice R. Margules and Antonie C. Reinhard(#,^)5300 W. Atlantic Ave. Ste 501, Delray Beach, FL 33484Miscellaneous Store RetailersTerm LoanPrime plus 2.75%11/30/202785.5  85.5  89.7  0.03 %
Create- A- Stitch, Inc(#,^)10408 Highway 64 East, Tyler, TX 75707Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/30/204284.1  84.1  97.9  0.03 %
WTI Distribution Inc(#,^)1413 Bushwick Ave, Brooklyn, NY 11207Support Activities for TransportationTerm LoanPrime plus 2.75%11/30/202732.6  32.6  33.0  0.01 %
J. Venture Holdings, LLC(#,^)22345 W. Rt 66, Seligman, AZ 86337Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/30/202710.1  10.1  10.6  — %
Skin Beauty Bar Inc. and Tameka J. Mathis(#,^)214 Pine St, Sandpoint, ID 83864Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/30/20277.3  7.3  7.2  — %
OPH Lexington, Inc(#,^)1088 Greenbriar Lane, Northbrook, IL 60062Social AssistanceTerm LoanPrime plus 2.75%11/29/2042183.4  183.4  214.5  0.07 %
Our Playhouse Preschool, LLC(#,^)14277 Ramona Ave, Chino, CA 91710Social AssistanceTerm LoanPrime plus 2.75%11/29/2042225.4  225.4  263.7  0.08 %
Beacon Brewing LLC and C' Sons, LLC(#,^)1 Jackson St., Troy, NY 12180Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2042122.0  122.0  142.7  0.04 %
Webtez Inc dba Mod Vans(#,^)3585 SW 10th St., Pompano Beach, FL 33069Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/22/202757.0  57.0  55.5  0.02 %
Step Up Academy of the Arts, LLC(#,^)749 8th St. SE 2nd Floor, Washington, DC 20003Educational ServicesTerm LoanPrime plus 2.75%11/22/202712.8  12.8  12.4  — %
JMD Corporation dba Dart's True Value(#,^)2285 St. Andrews Ave, Zachary, LA 70791Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/22/202715.2  15.2  15.4  — %
Cali Fit Meals(#,^)235 Walton Ave, Lexington, KY 40502Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/202718.3  18.3  18.6  0.01 %
67
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Grumpy's Restaurant Company, LLC(#,^)3501 NC Highway 54 W, Chapel hill, NC 27516Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/202757.9  57.9  56.2  0.02 %
PB Market LLC dba Pure Barre(#,^)700 Lincoln St., Lagrange, GA 30204Educational ServicesTerm LoanPrime plus 2.75%11/21/202788.4  88.4  85.8  0.03 %
B Lam LLC(#,^)121 South Main St., Payette, ID 83661Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/20/2042174.2  174.2  201.7  0.06 %
Maya Motel, LLC dba Town House Motel(#,^)1673 Donlon St., Ste 202, Ventura, CA 93003AccommodationTerm LoanPrime plus 2.75%11/17/204254.8  54.8  64.1  0.02 %
Jacob's Towing, Inc.dba Jacob's Automotive Locksmith & Jacob's Auto Re(#,^)2258A Wigwam Pkwy, Henderson, NV 89074Support Activities for TransportationTerm LoanPrime plus 2.75%11/17/202740.7  40.7  40.5  0.01 %
Southern Specialty Contractor, LLC & Ronald David Holbrook Jr.(#,^)3450 East Orangethrope Ave, Anaheim, CA 92806Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/17/202743.2  43.2  42.1  0.01 %
SSI Refrigerated Express Inc. and Robert M Stallone(#,^)834 Kingsley Ave, Orange Park, FL 32073Truck TransportationTerm LoanPrime plus 2.75%11/17/202751.2  51.2  50.3  0.02 %
H & H Hotshot Services, Inc.(#,^)164-C Market St, Charleston, SC 29401Couriers and MessengersTerm LoanPrime plus 2.75%11/16/202757.0  57.0  56.6  0.02 %
Murf & Sons LLC(#,^)9419 Kenwood Rd, Cincinnati, OH 45242Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/16/2027135.5  135.5  132.5  0.04 %
Auto Rx LLC,J&P Auto Repair Inc(#,^)1701 Washington Ave, Waco, TX 76701Repair and MaintenanceTerm LoanPrime plus 2.75%11/15/2042188.7  188.7  220.2  0.07 %
Marcaco LLC(#,^)1001 E. Cooley Drive Ste 102, Colton, CA 92324Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%11/15/2042501.4  501.4  586.5  0.18 %
J R Wholesale Tires & Auto Center, LLC(#,^)558 West Main St., Lebanon, OH 45036Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/15/204213.0  13.0  15.2  — %
Paramount Dance Studios Inc. and Homestead Dance Supply(#,^)1990 Flippen Rd, Stockbridge, GA 30281Educational ServicesTerm LoanPrime plus 2.75%10/14/2043452.9  452.9  522.3  0.16 %
Wing King at the Gardens LLC(#,^)3821 Pleasant Hill Rd, Store #B-107, Kissimmee, FL 34746Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/10/20277.9  7.9  7.7  — %
Hofgard & Co, Inc dba Hofgard Benefits and James Marsh(#,^)5455 N. 51st Ave Ste 30, Glendale, AZ 85301Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/8/202712.2  12.2  11.8  — %
JNP Delivery Inc(#,^)822 Cameron Lane, Lugoff, SC 29078Couriers and MessengersTerm LoanPrime plus 2.75%11/7/202791.2  91.2  91.6  0.03 %
His Loving Hands Christian Academy, Inc.(#,^)91 & 95 Woodbury Rd, Hicksville, NY 11801Social AssistanceTerm LoanPrime plus 2.75%11/6/204288.2  88.2  102.1  0.03 %
S & S Auto Body Shop Inc.(#,^)124 Lincoln Ave, Colonie, NY 12205Repair and MaintenanceTerm LoanPrime plus 2.75%11/3/2042153.6  153.6  179.5  0.05 %
Sterling Campbell Insurance Agency, Inc(#,^)112 N Krome Ave, Homestead, FL 33030Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/3/20276.1  6.1  5.9  — %
Top Quality Dent Service LLC(#,^)4235 South Fort Apache Rd, Ste 250, Las Vegas, NV 89147Repair and MaintenanceTerm LoanPrime plus 2.75%11/2/20274.9  4.9  4.7  — %
68
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
 Edge Studios Inc Radiant Yoga LLC(#,^)400 S. McCaslin Blvd, Ste 201, Louisville, CO 80027Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/1/202753.8  53.8  52.9  0.02 %
Berza TLG,LLC dba The Little Gym of Lake Charles(#,^)4500 North Providence # 7, Appleton, WI 54913Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/31/202734.3  34.3  33.6  0.01 %
Rachael Reel dba Rachel Reel Insurance Age(#,^)15020 Harrison St., Miami, FL 33176Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%10/31/20276.1  6.1  5.9  — %
The Five Lakes LLC(#,^)5001 W. Clay St., Richmond, VA 23230Educational ServicesTerm LoanPrime plus 2.75%10/30/2042455.9  455.9  533.3  0.16 %
Die Hard Used Car Sales(#,^)36359 North Gantzel Rd Ste 102, San Tan Valley, AZ 85140Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%10/30/204254.1  54.1  63.3  0.02 %
Ashore Ventures Inc dba PuroClean Professional Restoration(#,^)1541 Vapor Trail, Colorado Springs, CO 80905Repair and MaintenanceTerm LoanPrime plus 2.75%10/27/202711.8  11.8  11.6  — %
Sage Oil LLC(#,^)448 Howe Ave, Sacramento, CA 95825Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%10/27/20278.1  8.1  7.9  — %
Blue Eagle Transport Inc , Golden Eagle Transport, Inc & Green Eagle T(#,^)1301 E McNeese St., Ste 201, Lake Charles, LA 70607Couriers and MessengersTerm LoanPrime plus 2.75%10/27/202730.2  30.2  29.8  0.01 %
Suzie LLC dba Tony D's Restaurant(#,^)208 Bank St., Lenoir, TN 37771Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/25/204284.0  84.0  97.7  0.03 %
Grand Blanc Lanes, Inc.(#,^)1668 West Grand Ave, Phoenix, AZ 85007Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/25/202712.1  12.1  12.7  — %
Schafer Fisheries Inc(#,^)13705 Holmes Rd, Kansas City, MO 64154Food ManufacturingTerm LoanPrime plus 2.75%10/25/202728.2  28.2  29.5  0.01 %
Action Physical Therapy Yoga and Wellness Center Inc.(#,^)8913 Egyptian Ave, Las Vegas, NV 89143Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/24/202717.9  17.9  18.5  0.01 %
Looky Enterprises, LLC(#,^)377 Boston Post Rd Unit B, Milford, CT 06460Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/18/202753.8  53.8  52.9  0.02 %
Island Refrigeration & AC Inc(#,^)909 SE Everett Mall Way Ste A-140, Everett, WA 98208Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/18/2042127.2  127.2  146.1  0.04 %
Blueridge Armor LLC(#,^)92 Huntington St., New London, CT 06320Miscellaneous ManufacturingTerm LoanPrime plus 2.75%10/17/20276.7  6.7  6.7  — %
H and K Dry Cleaning LLC ,Quintero Shopping Center LLC,Aqua Laundry, L(#,^)5301 S. Saginaw Rd, Flint, MI 48507Electronics and Appliance StoresTerm Loan7.5%10/17/204261.8  61.8  57.7  0.02 %
Albas Bar & Grill LLC(#,^)21985 Waller Rd, Fulton, IL 61252Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/13/204243.9  43.9  49.4  0.02 %
Cortez Landscaping, LLC(#,^)5811 S Westnedge Ave, Portage, MI 49002Administrative and Support ServicesTerm LoanPrime plus 2.75%10/13/202715.5  15.5  15.5  — %
Crawfordsville Fitness LLC dba Planet Fitness(#,^)1175 Surlington Ave, Ste 101, Leland, NC 28451Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/13/2027100.3  100.3  98.6  0.03 %
On Call Services LLC(#,^)3201 Flagler Ave, Unit 510 & 511, Key West, FL 33040Construction of BuildingsTerm LoanPrime plus 2.75%10/13/202714.5  14.5  15.2  — %
69
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Pro Anderson, LLC(#,^)1227 Burnside Ave, East Hartford, CT 06108Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/11/202743.7  43.7  42.7  0.01 %
Sandbox Ventures LLC(#,^)1495 Highway 74-A Bypass, Ste 150192, Spindale, NC 28160Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/11/202715.8  15.8  16.3  — %
Eye Optique Inc.(#,^)221 Self Main St., Homer City, PA 15748Health and Personal Care StoresTerm LoanPrime plus 2.75%10/5/202712.1  12.1  11.7  — %
Ains Holding Company LLC(#,^)4 Powder Rd, Norwalk, CT 06854Management of Companies and EnterprisesTerm LoanPrime plus 2.75%10/2/202771.2  71.2  70.0  0.02 %
Becky Lou Corp dba Rent A Center(#,^)15060 281St Ave NW, Zimmerman, MN 55398Rental and Leasing ServicesTerm LoanPrime plus 2.75%10/2/202773.4  73.4  73.7  0.02 %
Sashshel Corporation(#,^)1632 Bush Lane, Crawfordsville, IN 47933Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/29/2042203.5  203.5  238.0  0.07 %
Threads of Time LLC(#,^)1092 Hampton Inn Way, Ste 400, Jacksonville, NC 28546Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%9/29/2042131.8  131.8  150.2  0.05 %
Dan Cline Transport Inc.(#,^)1857 A Elmdale Ave, Glenview, IL 60026Truck TransportationTerm LoanPrime plus 2.75%9/29/2030855.1  855.1  861.1  0.26 %
Harco Metal Products Inc(#,^)10800 Alpharetta Highway, Ste 220, Roswell, GA 30076Primary Metal ManufacturingTerm LoanPrime plus 2.75%9/29/2042471.4  471.4  527.5  0.16 %
Miechella Suzette Decker(#,^)121 Fulton St., New York, NY 10038Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/29/204294.9  94.9  111.0  0.03 %
Chicago American Manufacturing LLC, Dockside Steel ProcessingLLC and S(#,^)3578 Route 611, Ste 210, Bartonsville, PA 18321Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/29/20421,187.0  1,187.0  1,365.1  0.42 %
Rhode Island Tennis Management LLC(#,^)501 State Drive, Mount Vernon, MO 65712Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/28/2042527.0  527.0  600.1  0.18 %
National Media Services, Inc(#,^)207 S Buchanan St., Danville, IL 61832Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/28/202715.0  15.0  14.5  — %
Nicholson Lumber Co Inc.(#,^)3515 Main St., Exmore, VA 23350Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%9/28/2030186.0  186.0  197.6  0.06 %
Rhode Island Tennis Management LLC(#,^)7895 East Acoma Drive Ste 102, Scottsdale, AZ 85260Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/28/2042367.0  367.0  417.9  0.13 %
Pets A Go Go LLC(#,^)676 Franklin Blvd, Somerset, NJ 08873Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/28/2042189.8  189.8  219.2  0.07 %
Complete Care IT LLC(#,^)4500 W 47th St., Chicago, IL 60632Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/202711.8  11.8  11.4  — %
Technologist Inc(#,^)589 North State Rd, Briarcliff Manor, NY 10510Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/27/2027198.3  198.3  207.5  0.06 %
Inspirations Food Design, Inc(#,^)636 Centerville Rd, Warwick, RI 2886Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/26/2042446.6  446.6  511.7  0.16 %
Rollins Construction & Trucking LLC(#,^)377 Main St., Nicholson, PA 18446Construction of BuildingsTerm LoanPrime plus 2.75%9/26/2027265.1  265.1  275.8  0.08 %
70
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
JPS Arthur Kill Rd Bakery Corp dba Aunt Butches of Brooklyn(#,^)636 Centerville Rd, Warwick, RI 2886Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/22/202717.9  17.9  17.5  0.01 %
KB Waterjet Cutting LLC(#,^)5091 Lexington Blvd, Fort Meyers, FL 33919Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/22/20278.2  8.2  8.1  — %
Sallee Pro-Custom Fabrication Shop LLC(#,^)1820 North Fort Myer Drive Ste 530, Arlington, VA 22209Repair and MaintenanceTerm LoanPrime plus 2.75%9/21/20277.2  7.2  7.5  — %
Commonwealth Diagnostics International, Inc(#,^)4801 South University Drive, Ste 125, Davie, FL 33328Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/20/20271,011.0  1,011.0  1,058.1  0.32 %
Insight Diagnostic Technologist Services(#,^)893 South 120 East, Milford, UT 84751Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/20/2027262.8  262.8  259.6  0.08 %
Sound Manufacturing, Inc. & Monster Power Equipment, Inc.(#,^)1338 Memorial Ave, West Springfield, MA 01089Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/20/2027159.4  159.4  162.7  0.05 %
Alpha Preparatory Academy LLC(#,^)4330 Parker Lane, Addis, LA 70710Social AssistanceTerm LoanPrime plus 2.75%9/20/2042155.7  155.7  176.8  0.05 %
Max Home Deliveries, Inc(#,^)4864 Arthur Kill Rd Units 102,103,104 & 105, Staten Island, NY 10309Couriers and MessengersTerm LoanPrime plus 2.75%9/20/202764.2  64.2  64.2  0.02 %
NY Tent LLC & NY Tent Parent, LLC dba Tent Company of New York(#,^)8865 North County Rd 600 W, Scipio, IN 47273Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/20/2027822.2  822.2  842.8  0.26 %
Imagine By Carleen, Inc.(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/20/20276.0  6.0  6.2  — %
Denek Contracting Inc and Denek Leasing LLC(#,^)39 Norman St. a/k/a 1 Holyoke Square, Salem, MA 01970Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/20/2042200.8  200.8  234.4  0.07 %
Montessori Community School(#,^)2030 Forest Ave, Ste 110, San Jose, CA 95128Social AssistanceTerm LoanPrime plus 2.75%9/20/2042280.9  280.9  320.2  0.10 %
CR Park Incorporated dba Define Body and Mind(#,^)49 W. Allandale Ave, Allendale, NJ 07401Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/20/202765.3  65.3  64.8  0.02 %
CIS BIG DOG, LLC(#,^)4462 Mink Livsey Rd, Snellville, GA 30039Administrative and Support ServicesTerm LoanPrime plus 2.75%9/19/202751.8  51.8  54.2  0.02 %
Stone's Construction and Remodeling, LLC(#,^)123 South Navarra Drive, Scotts Valley, CA 95066Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/19/20274.2  4.2  4.0  — %
Party By Design Inc.(#,^)451 E. Wilson Ave, Pontiac, MI 48341Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/18/20421,153.3  1,153.3  1,307.9  0.40 %
Clinton Food Market LLC(#,^)77 Van Buren St., Port Jefferson Station, NY 11776Gasoline StationsTerm LoanPrime plus 2.75%9/15/2042245.0  245.0  279.7  0.09 %
Tarleton & Family Landscaping, LLC(#,^)1404 Del Prado Blvd South, Units 100 & 105, Cape Coral, FL 33904Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/15/202766.7  66.7  65.8  0.02 %
Li Family Spokane LLC(#,^)1401 Lakeland Ave, Bohemia, NY 11716Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/15/2042368.5  368.5  426.3  0.13 %
71
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Alaska Motor Home Inc(#,^)8920 US HWY, 62 WEST, Cynthiana, KY 41031Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/13/2027265.5  265.5  256.7  0.08 %
Nails By Mercede LLC(#,^)5210 Kaylin Drive, Akron, OH 44319Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/13/202711.4  11.4  11.5  — %
Fox Valley Rentals & Investments, LLC(#,^)61 Strafello Drive, Avon, MA 2322Food Services and Drinking PlacesTerm LoanPrime plus 3.75%9/13/20276.1  6.1  6.5  — %
Town & Country Transportation Co. and Popco, LLC.(#,^)21 E. Lincoln Rd, Spokane, WA 99208Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/12/2042161.7  161.7  188.8  0.06 %
Rajbai Maa Inc. dba Nara Lounge(#,^)196 East Main St., Clinton, CT 06413Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/12/2042371.5  371.5  417.6  0.13 %
Health & Performance Center, LLC(#,^)125 E Center St., Midland Park, NJ 07432Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/11/202716.3  16.3  15.8  — %
Morgan Lynn Kerstetter dba Catherine School of Dance(#,^)6633 Brayton Dr, Anchorage, AK 99507Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/11/20276.0  6.0  6.3  — %
Foxtail, LLC and Tottly New Services Corp(#,^)2906 E. Newberry St., Appleton, WI 54915Social AssistanceTerm LoanPrime plus 2.75%9/8/2042279.1  279.1  318.8  0.10 %
Echelon Planning Group, LLC dba Echelon Financial Services and Echelon(#,^)2994 and 2996 Edgewater Drive, Orlando, FL 32804Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%9/8/20276.0  6.0  6.3  — %
Crazy Beatz Productions LLC(#,^)191 Arch St., New Britain, CT 06051Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 3.75%9/7/20274.3  4.3  4.4  — %
South Fulton Landscape & Nursery, Inc.(#,^)244-252 Atwells Ave, Providence, RI 2903Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%9/7/204295.7  95.7  111.8  0.03 %
Dreaming Big Learning Center Inc(#,^)1862 Craigshire Rd, Saint Louis, MO 63146Social AssistanceTerm LoanPrime plus 2.75%9/5/2042362.2  362.2  413.1  0.13 %
Big Coop's Trucking LLC(#,^)315 Mill St. 3rd Floor, Danville, PA 17821Truck TransportationTerm LoanPrime plus 2.75%9/1/202779.9  79.9  81.2  0.02 %
Blue EagleTransport Inc, Greeneagle Transport Inc & Golden Eagle Tran(#,^)1481 Highland Ave, Cheshire, CT 06410Couriers and MessengersTerm LoanPrime plus 2.75%8/31/2027303.6  303.6  298.5  0.09 %
Parlay Disributors LLC(#,^)5 Greenleaf Drive, Unit 201, Portsmouth, NH 3801Educational ServicesTerm LoanPrime plus 2.75%8/25/202788.2  88.2  86.1  0.03 %
Lake County Tow LLC(#,^)20014 NE 138th St., Kearney, MO 64060Support Activities for TransportationTerm LoanPrime plus 2.75%8/25/204283.7  83.7  95.3  0.03 %
InUSA Ventures Inc dba InUSA Services(#,^)3415 Enon Rd, College Park, GA 30349Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%8/24/202719.8  19.8  19.2  0.01 %
Genuine Ventures LLC and Seaweed Ventures LLC(#,^)3301 W Oak St, Kissimmee, FL 34741Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/24/2030478.6  478.6  493.7  0.15 %
R & R Strength & Conditioning Corp dba Crossfit Light House Point(#,^)3066 Misty Creek Drive., Swartz, MI 48473Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/23/204278.8  78.8  92.1  0.03 %
72
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Delicias de Minas Restaurant, LLC(#,^)377 Boston Post Rd, Milford, CT 06460Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/22/2027162.2  162.2  168.9  0.05 %
L&V Auto Sales, Inc.(#,^)1734 Wansley Rd, Laurel, MS 39440Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%8/21/202714.3  14.3  15.0  — %
Damiano Global Corp(#,^)1734 Wansley Rd, Laurel, MS 39440Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/21/202717.9  17.9  18.2  0.01 %
Tier1 Solutions LLC(#,^)15409 Country Rd 565A, Clermont, FL 34711Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/18/202714.9  14.9  14.7  — %
Tony Herring & Associates, Inc(#,^)20 Medford Ave, Ste 104, Patchogue, NY 11772Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%8/17/20276.0  6.0  5.8  — %
Chester's World Enterprise LLC(#,^)3015 San Pablo Ave, Ste 511, Berkeley, CA 94702Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/16/202717.9  17.9  17.7  0.01 %
D'Amato & Sons Construction, Inc.(#,^)432 S Franklin St, Juneau, AK 99801Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/11/20276.5  6.5  6.5  — %
L & J Corporate Services Inc(#,^)3701 NE 12th St., Pompano Beach, FL 33064Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/4/20275.6  5.6  5.4  — %
Furniture Masters Limited Liability Company(#,^)168-170 McWhorter St., Newark, NJ 07105Repair and MaintenanceTerm LoanPrime plus 2.75%8/3/20277.1  7.1  6.9  — %
HMG Strategy LLC,(#,^)333 Birch Hills Drive, Rochester, NY 14622Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/2/202737.7  37.7  36.5  0.01 %
Hope Health Care, LLC(#,^)1504 West Franklin Blvd, Gastonia, NC 28052Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%7/31/20275.3  5.3  5.1  — %
Raffi's Inc dba Atlantic Auto Center(#,^)1000 Essington Rd Ste. 109 & 111, Joliet, IL 60435Repair and MaintenanceTerm LoanPrime plus 2.75%7/31/202711.2  11.2  11.7  — %
Royal Blue Investments, Inc. and Cleland Pharmacy LLC(#,^)211 West Camellia Drive, Slidell, LA 70458Health and Personal Care StoresTerm LoanPrime plus 2.75%7/31/204250.6  50.6  58.7  0.02 %
Sharon G McMillen, MA Psychologist, Inc.(#,^)140 W Alameda Drive, Ste 104, Tempe, AZ 85282Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/28/202714.6  14.6  14.1  — %
Work of Heart Inc dba Little Nest Portraits(#,^)117 Oak St., Amityville, NY 11701Professional, Scientific, and Technical ServicesTerm Loan7.5%7/28/202747.1  47.1  41.5  0.01 %
HQTRONIC LLC(#,^)866 NW 110th Ave, Coral Springs, FL 33071Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%7/27/202717.7  17.7  17.1  0.01 %
Oberon IT, Inc.(#,^)160 Mount Pleasant Ave, Newark, NJ 07104Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/26/2027172.1  172.1  172.3  0.05 %
Gilles Peress Studio LLC(#,^)191 Post Rd W., Westport, CT 06880Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/25/202748.9  48.9  47.3  0.01 %
Lil Tots' Learning Center LLC(#,^)2945 Main St., Stratford, CT 06614Social AssistanceTerm LoanPrime plus 2.75%7/21/204228.7  28.7  33.5  0.01 %
Obok LLC(#,^)1809 Roane St., Richmond, VA 23222Food ManufacturingTerm LoanPrime plus 2.75%7/21/20279.4  9.4  9.5  — %
Ocean Trans LLC(#,^)202 S. 1st St., Wakeeny, KS 67672Truck TransportationTerm LoanPrime plus 2.75%7/21/202730.8  30.8  29.8  0.01 %
Matrix Z LLC(#,^)216 West Main St, Kingwood, WV 26537Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 3.75%7/19/20275.9  5.9  6.4  — %
73
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Aitheras Aviation Group, LLC(OH) , Aitheras Aviation Group, LLC(FL)(#,^)10135 S. Roberts Rd, Ste. 209, Palos Hills, IL 60465Air TransportationTerm LoanPrime plus 2.75%7/18/2027648.8  648.8  629.9  0.19 %
Wildflour Bakery & Cafe, LLC(#,^)1404 W. Walnut Hill Lane, Irving, TX 75038Food ManufacturingTerm LoanPrime plus 2.75%7/17/202717.7  17.7  18.5  0.01 %
Koep Companies dba Pipestone True value(#,^)76 Lafayette Ave, Brooklyn, NY 11217Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%7/14/2042311.9  311.9  352.1  0.11 %
Rocks Auto Exchange LLC(#,^)2720 S. Havana St., Unit H, Aurora, CO 80014Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%7/13/202710.0  10.0  9.7  — %
McCord Holdings, Inc. dba Fast Signs 176101(#,^)1415 W Andersonr Way, Stockton, CA 95206Administrative and Support ServicesTerm LoanPrime plus 2.75%7/7/202714.8  14.8  14.5  — %
Thrifty Market Inc dba Thrifty Foods(#,^)3042 S 78th St, Tampa, FL 33619Food and Beverage StoresTerm LoanPrime plus 2.75%7/6/202784.4  84.4  83.8  0.03 %
The Country House Restaurant, LLC and Pelton Real Estate, LLC(#,^)800 SW 21st Terrace, Fort Lauderdale, FL 33312Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/204248.1  48.1  55.7  0.02 %
Hamilton & Associates Real Estate and Investments Firm LLC(#,^)2301 N Marginal Rd, Cleveland, OH 44114Real EstateTerm LoanPrime plus 2.75%6/30/204251.5  51.5  59.1  0.02 %
J. T. O'Neill Company, L.L.C(#,^)5137 Clareton Drive, Ste 100,110 & 120, Agoura Hills, CA 91301Real EstateTerm LoanPrime plus 2.75%6/30/202711.7  11.7  11.3  — %
JWH Designs, LLC(#,^)207 East Main St., Pipestone, MN 56164Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/202782.8  82.8  80.1  0.02 %
J&M Civil Construction Services LLC(#,^)518 East.Main St., Westfield, IN 46074Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/30/202775.3  75.3  72.8  0.02 %
New Chicago Wholesale Bakery Inc.(#,^)7640 N. Wickham Rd, Melbourne, FL 32940Food ManufacturingTerm LoanPrime plus 2.75%6/30/202711.7  11.7  12.0  — %
Best Bees Company(#,^)702 10th St., Wheatland, WY 82201Animal Production and AquacultureTerm LoanPrime plus 2.75%6/29/202717.5  17.5  16.9  0.01 %
Stiegelbauer Associates Inc.(#,^)795 Touhy Ave, Elk Grove Village, IL 60007Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/2027240.1  240.1  250.7  0.08 %
Ocean Trans LLC and Dehal Trucking LLC(#,^)19972 Willowin Farm Lane, Purcellville, VA 20132Truck TransportationTerm LoanPrime plus 2.75%6/29/2027490.7  490.7  473.4  0.14 %
Intellixion LLC(#,^)677 US Route 7, Pittsford, VT 5763Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/29/20272.9  2.9  2.8  — %
Oakhill Farms, LLC(#,^)11776 West Sample Rd, Coral Springs, FL 33065Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/203085.0  85.0  91.3  0.03 %
Malhame & Company Publishers & Importers Inc.(#,^)1111 Boston Post Rd, Rye, NY 10580Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/29/202769.8  69.8  67.4  0.02 %
Greensboro Plastic Surgical Associates, PA(#,^)1221 County Rd 4371, Decatur, TX 76234Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/29/2042550.5  550.5  626.1  0.19 %
Akal Express Inc. dba Truck Trailer Service Stop(#,^)63 Flushing Ave, Unit 101, Building 280, Brooklyn, NY 11205Repair and MaintenanceTerm LoanPrime plus 2.75%6/28/204257.2  57.2  66.4  0.02 %
74
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Foxhop Fitness, LLC(#,^)839 Albany St., Boston, MA 02119Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/28/202771.2  71.2  69.1  0.02 %
Old Dominion Transportation Group, Inc.(#,^)760 W. Charter Way, Stockton, CA 95206Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/28/2027788.2  788.2  771.6  0.24 %
Citibin, Inc.(#,^)2716 Henry St., Greensboro, NC 27405Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%6/27/202797.5  97.5  94.0  0.03 %
WB Cleaners Inc. DBA $2.75 Cleaners(#,^)7447 Egan Dr, Ste 110 A, Savage, MN 55378Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/27/202712.8  12.8  13.3  — %
Auxiliary Systems Inc.,Sharrick Company, LLC & KMN, LLC(#,^)180 Orville Rd, Bohemia, NY 11780Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%6/27/2030208.6  208.6  222.3  0.07 %
Four Seasons Laser Center Inc.(#,^)15 Carl St., Johnston, RI 2919Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/26/2042211.4  211.4  240.9  0.07 %
Ains Holding Company, LLC(#,^)2901 I 40 West, Vega, TX 79092Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/2027867.1  867.1  848.4  0.26 %
Northern Industries, LLC(#,^)4211 NW Federal Highway, Jensen Beach, FL 34957Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/23/204255.1  55.1  64.2  0.02 %
Vella Construction Enterprises, Inc. dba Vella Construction(#,^)1308 Devils Reach Rd, Woodbridge, VA 22192Construction of BuildingsTerm LoanPrime plus 2.75%6/23/202717.5  17.5  16.9  0.01 %
Rustic LLC(#,^)254 36th St., Unit 25, Brooklyn, NY 11232Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/23/204215.5  15.5  16.8  0.01 %
Birches Group, LLC(#,^)211 East 25th St., Norfolk, VA 23504Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/22/202739.0  39.0  37.6  0.01 %
Scarlet Spartan Inc.dba FastSigns of Brighton(#,^)5101 University Park Way, Winston-Salem, NC 27106Administrative and Support ServicesTerm LoanPrime plus 2.75%6/19/202722.0  22.0  21.8  0.01 %
Don G. Timpton DDS & Associates PA and Indsaad Properties,LLC(#,^)122 West 26th St., New York, NY 10011Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/16/2042381.1  381.1  426.5  0.13 %
JAM Media Solutions, LLC(#,^)4720 NW 2nd Ave Unit D-104 and Unit D-105, Boca Raton, FL 33498Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/15/202725.3  25.3  24.4  0.01 %
All Regional Recyclers of Wood LLC dba ARROW,Superior Carting,LLC dba(#,^)4779 State Rd AA, Tebbetts, MO 65080Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/15/2042296.4  296.4  336.0  0.10 %
Tele Tax Express Inc., El Rancho Paiso, LLC and Nestor Romero(#,^)W 5585 Dehart Drive, Tomahawk, WI 54484Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/204288.2  88.2  101.9  0.03 %
Susan Hughes dba Aloha Junction B and B(#,^)318 28th Ave, San Mateo, CA 94403AccommodationTerm LoanPrime plus 2.75%6/14/204259.5  59.5  69.4  0.02 %
Hull's Kitchen, LLC and HK Too, LLC(#,^)228 East 45th St. 12th FL South, New York, NY 10017Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/14/204291.7  91.7  106.9  0.03 %
ESA 365 Corp and Lucathor Realty LLC(#,^)533 W. Grand River Ave, Brighton, MI 48116Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/14/204221.5  21.5  24.6  0.01 %
75
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Yachting Solutions LLC(#,^)11535 Carmel Commons Blvd Ste 200, Charlotte, NC 28226Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/12/202792.6  92.6  94.0  0.03 %
Refoleen Inc dba Spice and Tea Exchange(#,^)4744 Tackawanna St., Philadelphia, PA 19124Food and Beverage StoresTerm LoanPrime plus 2.75%6/8/20272.7  2.7  2.7  — %
Skydive California, LLC(#,^)104 Wooster St., Bethel, CT 06801Educational ServicesTerm LoanPrime plus 2.75%6/2/202742.8  42.8  44.7  0.01 %
SCW, LLC dba Arthur Murray Dance Studio(#,^)2420 Grand Ave, Baldwin, NY 11520Educational ServicesTerm LoanPrime plus 2.75%6/2/2042139.2  139.2  158.7  0.05 %
Speaker City, Inc.and Speaker Town, LLC dba Rollin Thunder(#,^)577 Main Ave, Paterson, NJ 07055Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/1/204243.4  43.4  49.9  0.02 %
Sage Oil LLC(#,^)19-4037 Olapalapa Rd, Volcano, HI 96785Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%5/31/202717.4  17.4  16.9  0.01 %
Ricnet III, Inc. dba Edible Arrangements(#,^)19 Hull Shore Dr, Hull, MA 02045Food and Beverage StoresTerm LoanPrime plus 2.75%5/31/202711.6  11.6  11.3  — %
Funtime, LLC and Universal Entertainment Group LLC(#,^)229 Commercial St., Rockport, ME 04856Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/31/202751.0  51.0  49.7  0.02 %
Haroon Baig,Inc.dba US1 Petrol(#,^)849 E Commerce St. Ste 121, San Antonio, TX 78205Gasoline StationsTerm LoanPrime plus 2.75%5/31/2042251.3  251.3  293.1  0.09 %
Chet Lemon Enterprises LLC dba All American Sports(#,^)2383 Old Dixwell Ave, Hamden, CT 06518Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/26/2042754.5  754.5  879.8  0.27 %
Eagle Wood Works LLC(#,^)25001 S Kasson Rd, Tracy, CA 95301Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%5/26/20279.3  9.3  9.3  — %
Hurricane Group, Inc.(#,^)246 East Belt Blvd, Richmond, VA 23224Other Information ServicesTerm LoanPrime plus 2.75%5/26/202757.9  57.9  55.9  0.02 %
Swantown Inn & Spa LLC(#,^)8913 Egyptian Ave, Las Vegas, NV 89143AccommodationTerm LoanPrime plus 2.75%5/26/2042121.0  121.0  140.7  0.04 %
Jung Design Inc.(#,^)716 Foxcroft Ave, Martinsburg, WV 25401Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/25/20276.9  6.9  6.7  — %
Locavore LLC dba Paloma Restaurant(#,^)13200 W. Foxfire Dr #144, Surprise, AZ 85387Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/25/202738.6  38.6  38.1  0.01 %
Abdul Naushad MD PC dba Advanced Pain Centers(#,^)1280-1290 Dixwell Ave, Hamden, CT 06514Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/25/2042374.8  374.8  432.9  0.13 %
Beyond Waves A Unique Salon LLC and Lori Ann Carlson(#,^)1544 Lane Park Cutoff, Tavares, FL 32778Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/202711.6  11.6  11.2  — %
Innovim, LLC(#,^)312 West Fourth St., Carson City, NV 89703Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/24/2027249.4  249.4  240.6  0.07 %
Prestige Construction of Florida, LLC(#,^)1448 Horsehead Rd, Lugoff, SC 29078Construction of BuildingsTerm LoanPrime plus 2.75%5/23/2042320.3  320.3  360.5  0.11 %
Tres K Deli,Grocery,Fruit and Meat Inc.(#,^)8641 Ashwood Dr, Capital Heights, MD 20743Food and Beverage StoresTerm LoanPrime plus 2.75%5/19/20276.4  6.4  6.4  — %
76
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
 Iron Men Home Repair, Inc. and Ironmen House Lifting Inc.(#,^)1431 11th Ave SE, Olympia, WI 98501Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/19/2042554.5  554.5  634.9  0.19 %
Hayden Trucking LLC(#,^)10857 Pine Bluff Drive, Fisher, IN 46037Truck TransportationTerm LoanPrime plus 2.75%5/19/2027107.7  107.7  112.0  0.03 %
Mr. B's Bicycles & Mopeds, Inc.(#,^)2290 Foxon Rd Route 80, North Branford, CT 06471Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%5/18/2042139.7  139.7  159.6  0.05 %
Waterford Plumbing Co, Inc.(#,^)2865 James Blvd, Poplar Bluff, MO 63901Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/18/202738.6  38.6  37.7  0.01 %
Bay Car Wash LLC(#,^)401 S. Guadalupe St., Santa Fe, NM 87501Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/2042115.0  115.0  131.8  0.04 %
Computech Computers Inc.(#,^)6401 Golden Triangle Drive Ste 200, Greenbelt, MD 20770Educational ServicesTerm LoanPrime plus 2.75%5/17/202738.6  38.6  37.3  0.01 %
Batter & Company,LLC dba Batter Co. Dessert Collection(#,^)2372 Walnut Ave, Livingston, CA 95334Food and Beverage StoresTerm LoanPrime plus 2.75%5/16/202741.5  41.5  40.6  0.01 %
5 Stars Learning Center Inc(#,^)1404 Yorktown St. Ste E, Deland, FL 34944Social AssistanceTerm LoanPrime plus 2.75%5/16/204258.8  58.8  67.2  0.02 %
Arco Electrical Contractors Inc. dba Arco Construction Group(#,^)132 North Wellwood Ave, Lindenhurst, NY 11757Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/16/2027273.7  273.7  274.6  0.08 %
Sanderson Distribution Inc.(#,^)11540 Eagle Vista Drive, Fort Worth, TX 76179Truck TransportationTerm LoanPrime plus 2.75%5/12/20278.1  8.1  7.8  — %
B G F Bobby Q's Inc(#,^)125 West Tremont Ave, Bronx, NY 10453Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/11/20275.8  5.8  6.0  — %
Estelle Finkel Educational Associates,LLC(#,^)1870 S. 4th Ave, Yuma, AZ 85364Educational ServicesTerm LoanPrime plus 2.75%5/11/202791.0  91.0  87.8  0.03 %
Labmates,LLC(#,^)2425 W. Cuyler Ave, Chicago, IL 60618Miscellaneous Store RetailersTerm LoanPrime plus 2.75%5/10/202777.2  77.2  79.3  0.02 %
NHS, LLC(#,^)952 South Commercial St. and West Magnolia, Aransas Pass, TX 78336Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/9/202768.4  68.4  67.7  0.02 %
NHS, LLC(#,^)40-24 76th St., Office #2B, Elmhurst, NY 11373Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/9/204220.8  20.8  23.1  0.01 %
Innovation Transport, LLC(#,^)1741 N.W. 33rd St., Pompano Beach, FL 33064Truck TransportationTerm LoanPrime plus 2.75%5/9/202760.2  60.2  61.7  0.02 %
Benchmark Building, Inc.(#,^)14 Paine Ave, Irvington, NJ 07111Construction of BuildingsTerm LoanPrime plus 2.75%5/5/202717.4  17.4  16.8  0.01 %
Cable Management LLC(#,^)22-24 South Seventh St., Elizabeth, NJ 07202Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/3/202744.3  44.3  45.0  0.01 %
Fine Arts Center of Easley, Inc. dba Midtown Music(#,^)100 Daniel Drive, Alamo, CA 94507Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%5/2/2042113.5  113.5  132.4  0.04 %
Love and Glory Learning Center, Inc.(#,^)447 N. Main St., Freeport, NY 11520Social AssistanceTerm LoanPrime plus 2.75%4/28/204274.1  74.1  84.3  0.03 %
77
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Sneads Ferry Foods, Inc. dba DQ Grill & Chill(#,^)125 West Mount Pleasant Ave, Livingston, NJ 07039Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/2042611.4  611.4  693.2  0.21 %
JMA Inc. dba Primecut and Mezzo; Primecut at Marquee(#,^)141 Watertown Rd, Thomaston, CT 06787Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/2042210.8  210.8  245.8  0.08 %
Asheville's Fun Depot, LLC(#,^)212 N Douglas Ave, Ellsworth, KS 67439Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/26/202767.0  67.0  69.9  0.02 %
Resident Research, LLC(#,^)1 International Blvd, Mahwah, NJ 07495Other Information ServicesTerm LoanPrime plus 2.75%4/24/202767.4  67.4  65.1  0.02 %
Getting Even LLC dba The Zoo Health Club(#,^)212 N Douglas Ave, Ellsworth, KS 67439Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/21/20275.7  5.7  5.7  — %
Ralph's Hair Salon, Inc.(#,^)1439 Stargazer Terrace, Sanford, FL 32771Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/21/204247.5  47.5  54.6  0.02 %
Condron Brothers LLC DBA Luv 2 Play(#,^)290 Pratt St., Meriden, CT 06450Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/19/202791.5  91.5  90.9  0.03 %
Butternuts Beer and Ale LLC(#,^)117 S. Pendleton St., Easley, SC 29640Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%4/12/202756.4  56.4  58.9  0.02 %
The Altitude Group, LLC and Core Home Security, LLC(#,^)4911 N. 42nd St., Tampa, FL 33610Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/31/202733.3  33.3  32.2  0.01 %
Bear Trail Lodge LLC(#,^)393 Charles St., Providence, RI 2904Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/31/2042525.7  525.7  611.5  0.19 %
Golden Hen Inc. dba Cafe(#,^)920 Highway 210, Sneads Ferry, NC 28460Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/31/202749.2  49.2  47.8  0.01 %
Landmark Ventures USA, Inc.(#,^)7 Roberts Rd, Asheville, NC 28803Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/31/2027142.4  142.4  137.4  0.04 %
Applied Integrated Technologies, Inc.(#,^)4400 Morris Park Drive Ste M, Charlotte, NC 28277Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/31/202795.0  95.0  91.6  0.03 %
Citizens Lanes, LLC(#,^)377 South Willow St., Ste B 2-1, Manchester, NH 3103Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%3/31/2042602.2  602.2  562.2  0.17 %
Sea Smoke Barbeque, Corp and Danwen LLC(#,^)175 NW 14th St., Homestead, FL 33030Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/2042225.0  225.0  257.6  0.08 %
KWG Industries LLC dba Peterson & Marsh Metal Industries(#,^)4790 La Sierra Ave, Riverside, CA 92505Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/30/202722.8  22.8  23.8  0.01 %
Schafer Fisheries Inc.(#,^)4021 Highway 51, Garrattsville, NY 13342Food ManufacturingTerm LoanPrime plus 2.75%3/30/2042235.4  235.4  274.5  0.08 %
H and H Hotshot Services, Inc. dba AA Hotshot & Logistics(#,^)475 Park Ave South 25th Floor, New York, NY 10016Couriers and MessengersTerm LoanPrime plus 2.75%3/29/203081.6  81.6  80.9  0.02 %
Gauri Hospitality Group LLC dba Microtel Inns & Suites by Wyndham(#,^)468 W. Cheltenham Ave, Philadelphia, PA 19126AccommodationTerm LoanPrime plus 2.75%3/29/20421,005.0  1,005.0  1,171.1  0.36 %
Discount Price, LLC dba Robert's Market(#,^)7120 Samuel Morse Drive #150, Columbia, MD 21046Gasoline StationsTerm LoanPrime plus 2.75%3/29/2042196.2  196.2  225.7  0.07 %
78
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Douglas K. Soderblom . dba Loma Linda Optometry(#,^)Mile 1 Bear Trail Rd, King Salmon, AK 99613Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202775.9  75.9  75.3  0.02 %
New England Country Day School, Inc. and Thomas D. Walker(#,^)5100 Goodson Connector Rd, Union City, GA 30291Social AssistanceTerm LoanPrime plus 2.75%3/28/2042358.8  358.8  410.0  0.13 %
American Pharmaceutical Innovation Company, LLC(#,^)949 Clint Moore Rd, Unit 949A, Boca Raton, FL 33487Chemical ManufacturingTerm LoanPrime plus 2.75%3/28/20275.4  5.4  5.2  — %
Pecos Entertainment LLC dba State Theater and Pecos Inn LLC dba Econo(#,^)21985 Waller Rd, Fulton, IL 61252Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/27/2042390.3  390.3  455.1  0.14 %
Heil & Hornik LLC dba Elysium Tennis(#,^)330 Roycefield Rd Unit B, Hillsborough, NJ 08844Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/27/2042882.3  882.3  1,006.8  0.31 %
JBK Truck Trailer and Bus Inc.(#,^)20 Island Farm Rd, Oak Bluffs, MA 2557Repair and MaintenanceTerm LoanPrime plus 2.75%3/23/204284.4  84.4  96.1  0.03 %
Denton Bio Fuels LLC and American Bio Source LLC(#,^)1221 Kentucky Mills Drive, Louisville, KY 40299Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202745.2  45.2  45.0  0.01 %
Color Graphic Press, Inc.(#,^)5455 N 51st St., # 30, Glendale, AZ 85301Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/23/202791.1  91.1  94.9  0.03 %
Executive Fitness & Nutrition Inc.(#,^)2 Hill Rd, Franklin, NH 3235Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/23/202715.3  15.3  15.9  — %
Baton Rouge Cargo Services Inc. and 6507 Westport, LLC(#,^)25815 Barton Rdad, Unit C104, Loma Linda, CA 92354Truck TransportationTerm LoanPrime plus 2.75%3/22/2042611.9  611.9  706.3  0.22 %
Vehicle Safety Supply LLC(#,^)1425 Centre Circle, Downers Grove, IL 60515Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/21/202717.1  17.1  16.4  0.01 %
J Sivilis LLC dba Pet Wants(#,^)27 Kenosia Ave, Danbury, CT 06810Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/17/20273.6  3.6  3.6  — %
The Purple Cow House of Pancake Inc(#,^)7637 C. Commerce Place, Plain City, OH 43064Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/16/2042152.7  152.7  177.8  0.05 %
Reservoir International LLC(#,^)421 S. Oak St., Pecos, TX 79772Educational ServicesTerm LoanPrime plus 2.75%3/16/202765.2  65.2  66.2  0.02 %
Texcor, Inc.dba Texas Corral,Texas Coral Restaurants II, Inc. T.C. of(#,^)4501 NW 2nd Ave, Miami, FL 33127Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/16/2027223.1  223.1  232.4  0.07 %
1MTX LLC and Sunrise Transportation and Logistics, LLC and Mustafa M(#,^)624 W. University Dr. Ste 359, TX, TX 76201Truck TransportationTerm LoanPrime plus 2.75%3/13/2027502.2  502.2  483.4  0.15 %
Dwayne Bernard Tate(#,^)42 Main St., Nyack, NY 10960Truck TransportationTerm LoanPrime plus 2.75%3/10/20278.0  8.0  8.0  — %
Elegant Occasions, LLC dba E Productions(#,^)8669 South State Rd 67, Camby, IN 46113Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/10/2042558.4  558.4  637.7  0.19 %
E & P Holdings 1 LLC and Evans & Paul Unlimited Corp. and Evans & P(#,^)8610 Roosevelt Ave Ste 2, Jackson Heights, NY 11372Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%3/9/202794.8  94.8  92.5  0.03 %
Anthony LLC dba Star of Woodward Market(#,^)6507 Westport Ave, Shreveport, LA 71129Food and Beverage StoresTerm LoanPrime plus 2.75%3/9/2042109.6  109.6  127.6  0.04 %
79
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Allegro Assisted Living Of Texas(#,^)707 Femimore Rd, Mamaroneck, NY 10543Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%3/6/202772.9  72.9  76.0  0.02 %
Podium Auto Sales Inc and RRS Property, LLC(#,^)3883 Catalina Dr, Cocoa, FL 32926Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/3/204286.3  86.3  98.3  0.03 %
SSI Refrigerated Express Inc. and Robert M Stallone dba SSI Express(#,^)502 Parks McMillan Drive, Raeford, NC 28376Truck TransportationTerm LoanPrime plus 2.75%2/28/2027174.7  174.7  168.2  0.05 %
Getting Even LLC dba The Zoo Health Club(#,^)6 & 10 Skowhegan Rd, Fairfield, ME 04937Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/28/202772.4  72.4  71.4  0.02 %
Weeping Willow Kennels, Inc and Aileen N Black(#,^)5880 US Hwy6, Portage, IN 46368Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2042133.0  133.0  152.9  0.05 %
Total Document Solutions Inc and,TDS Services, LLC(#,^)6510 North Broadway, Saint Louis, MO 63147Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%2/27/2030259.5  259.5  265.0  0.08 %
Teracore Inc.(#,^)1238 Woodcliff Court SW, Lilburn, GA 30047Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/27/2027123.1  123.1  118.5  0.04 %
McNally Enterprises Inc.(#,^)3650 Coral Ridge Drive Units 103-104, Coral Springs, FL 33065Administrative and Support ServicesTerm LoanPrime plus 2.75%2/27/202748.4  48.4  47.7  0.01 %
TMJ Pizza Mesa LLC dba Rosati's Pizza Restaurant(#,^)140 Dupont St., Plainview, NY 11803Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/24/202756.5  56.5  58.3  0.02 %
B & J Bicycle Shop Inc.(#,^)5730 Woodward Ave, Detroit, MI 48202Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%2/24/20274.7  4.7  4.9  — %
3W Enterprises LLC(#,^)3400 Remington Drive, Plano, TX 75023Textile Product MillsTerm LoanPrime plus 2.75%2/24/204261.6  61.6  71.3  0.02 %
Ameritube, LLC and Ravone Properties, LLC(#,^)246 S. Dixie Highway, Pompano Beach, FL 33060Primary Metal ManufacturingTerm LoanPrime plus 2.75%2/14/2042175.1  175.1  203.8  0.06 %
Baton Rouge Cargo Services Inc. and 2808 Court Street, LLC(#,^)377 South Willow St. Unit B2-1, Manchester, NH 3103Truck TransportationTerm LoanPrime plus 2.75%2/10/2042235.1  235.1  271.4  0.08 %
Marvic Enterprises Inc dba Jordan's Liquor(#,^)1001 E. Cooley Drive Ste 102, Colton, CA 92324Food and Beverage StoresTerm LoanPrime plus 2.75%2/10/2042208.1  208.1  239.5  0.07 %
Sushiya Inc.(#,^)6041 Hammond School Rd, Salisbury, MD 21804Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/10/202714.1  14.1  13.9  — %
Maximo Canot dba Wash and Dry Laundrymat(#,^)3300 Holcomb Bridge Rd, Ste 226, Norcross, GA 30092Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/10/2042130.8  130.8  151.2  0.05 %
Harrison Logging Company LLC(#,^)1010 N. Grove St., Anaheim, CA 92806Forestry and LoggingTerm LoanPrime plus 2.75%2/9/202779.9  79.9  79.5  0.02 %
8 Minute Oil Change Auto Repair & Tire Center and Jumir L.L.C.(#,^)2515 North Shiloh Drive, Fayetteville, AR 72704Repair and MaintenanceTerm LoanPrime plus 2.75%2/7/2042311.2  311.2  352.2  0.11 %
DBMS Consulting, Inc.(#,^)2727 Industrial Pkwy, Elkhart, IN 46516Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/1/2042175.7  175.7  198.9  0.06 %
Chidlren's House Learning, Inc and Tarps Investment Group(#,^)2235 S. Power Rd Ste 118, Mesa, AZ 85209Social AssistanceTerm LoanPrime plus 2.75%1/31/2042304.6  304.6  347.7  0.11 %
80
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Brandco, LLC(#,^)1620 E. Sample Rd, Pompano Beach, FL 33064Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/31/202732.6  32.6  31.4  0.01 %
Fave Realty Inc.(#,^)1000 North State. Highway 77, Hillsboro, TX 76645Real EstateTerm LoanPrime plus 2.75%1/30/204251.7  51.7  59.3  0.02 %
SRC Publishing LLC(#,^)2808 Court St., Port Allen, LA 70767Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%1/27/202716.8  16.8  16.1  — %
Fox Valley Rentals & Investments LLC and Brian M Tomaszewski(#,^)199 Taunton Ave, East Providence, RI 2914Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/20/204240.3  40.3  45.9  0.01 %
Jolibe LLC and Jolibe Atelier LLC(#,^)72 S. Main St, Hanover, NH 3755Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/18/20277.8  7.8  7.7  — %
Eickmann Management Group LLC dba Jimmy Johns of Dundee(#,^)34 Morningside Ave, Yonkers, NY 10703Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/17/202774.2  74.2  77.3  0.02 %
Fullbro Trust dba Menemsha Blues(#,^)255 Ray Crain Rd, Indian Mound, TN 37079Miscellaneous Store RetailersTerm LoanPrime plus 2.75%1/13/202716.8  16.8  17.5  0.01 %
Echelon Enterprises, Inc(#,^)174-176 Mountain Ave, Springfield, NJ 07081Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%1/10/202736.4  36.4  37.9  0.01 %
Jacliff Investments Inc. dba International health Technologies(#,^)164 West 83rd St. Units CF1 and CF2, New York, NY 10024Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/23/202692.1  92.1  92.9  0.03 %
Metropolitan Solutions Group Inc.(#,^)2151 Consulate Drive Ste 21, Orlando, FL 32837Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/19/2041260.1  260.1  300.8  0.09 %
Means Enterprises LLC dba FastFrame Frisco(#,^)720 Wilbraham Rd, Springfield, MA 01109Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/16/202616.6  16.6  16.8  0.01 %
Elita 7, LLC(#,^)1875 Grand Ave, Baldwin, NY 11510Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/15/2041674.0  674.0  789.4  0.24 %
New Chicago Wholesale Bakery, Inc.(#,^)8690 Waterford Bend St., Las Vegas, NV 89123Food ManufacturingTerm LoanPrime plus 2.75%12/15/2041427.8  427.8  497.6  0.15 %
Techni-Pro Institute LLC(#,^)2906 E. Newberry St., Appleton, WI 54915Educational ServicesTerm LoanPrime plus 2.75%12/15/2026139.6  139.6  141.9  0.04 %
Sempco, Inc.(#,^)357 w 36th #401, New York, NY 10018Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/15/204139.7  39.7  46.8  0.01 %
Soon Im. Chin dba Stan C-Store(#,^)568 Techumseh St., Dundee, MI 48131Gasoline StationsTerm LoanPrime plus 2.75%12/15/2041201.0  201.0  236.2  0.07 %
Trison Enterprises Inc.dba Lee's Automotive(#,^)2 Basin Rd, Chilmark, MA 02535Repair and MaintenanceTerm LoanPrime plus 2.75%12/14/2041385.5  385.5  450.6  0.14 %
AGG Management Team LLC dba Chevron(#,^)16701 E. Iliff Ave, Aurora, CO 80013Gasoline StationsTerm LoanPrime plus 2.75%12/14/2041271.1  271.1  319.3  0.10 %
HMG Strategy, LLC(#,^)8624 Rogers Ave, Fort Smith, AR 72903Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/202634.9  34.9  35.2  0.01 %
Roast Beef Levittown LLC dba Arby's(#,^)2355 South 1070 West, Salt Lake City, UT 84119Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/13/2026156.1  156.1  163.5  0.05 %
81
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Wayfarer Bicycle LLC(#,^)1420 Chestnut St., Portsmouth, VA 23704Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%12/13/204187.5  87.5  101.5  0.03 %
Success Advertising Inc. dba Success Communivstion Gr(#,^)4112-4150 Legacy Drive/5729 Leabanon Rd Unit 412, Frisco, TX 75034Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/2041441.3  441.3  518.7  0.16 %
Mack Team Enterprises Inc.dba The UPS Store #6815(#,^)4014 E Stan Schlueter Loop, Killeen, TX 76542Couriers and MessengersTerm LoanPrime plus 2.75%12/9/202615.0  15.0  15.4  — %
eCommerce Direct, LLC(#,^)51 -55 Lake St. Unit #2-6, Nashua, NH 3060Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/2026571.3  571.3  583.0  0.18 %
Recycling Revolution,LLC(#,^)16 Marble St., Worcester, MA 01603Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/9/204187.0  87.0  101.3  0.03 %
Imagine By Carleen Inc.(#,^)414 NW 35th St., Boca Raton, FL 33431Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/8/204149.7  49.7  58.0  0.02 %
New Life Hospital LLC(#,^)795 Touhy Ave, Elk Grove Village, IL 60007HospitalsTerm LoanPrime plus 2.75%12/8/20411,152.1  1,152.1  1,356.7  0.41 %
Hanson's Greeks LLC(#,^)191 Post Rd West, Westport, CT 06880Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/8/20268.3  8.3  8.6  — %
Yachting Solutions LLC(#,^)13281 Aurora Ave N, Seattle, WA 98311Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/7/202958.6  58.6  62.1  0.02 %
Lilo Holdings LLC(#,^)2615 S Dixie Highway, West Palm Beach, FL 33401Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/5/202611.7  11.7  12.0  — %
Noso Development LLC(#,^)118-120 Ocean Ave, New London, CT 06320Construction of BuildingsTerm LoanPrime plus 2.75%12/1/202655.3  55.3  55.7  0.02 %
Studio Find It Georgia, Inc.(#,^)26 Eastmans Rd, Parsippany, NJ 07054Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/30/20265.5  5.5  5.5  — %
Imaginarium Foods LLC,(#,^)2080 Hempstead Turnpike, East Meadow, NY 11554Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2042353.5  353.5  414.3  0.13 %
RD Management, LLC(#,^)38200 Ave of the States, Fort Gordon, GA 30905Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/30/2026156.0  156.0  157.8  0.05 %
Pebble Wood Lane, LLC and Good Sam's Assisted Living Resiidence,LLC(#,^)4190 Collins Rd, Unadilla, GA 31091Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%11/30/204163.6  63.6  74.9  0.02 %
Quick Ship, LLC(#,^)3440 Gannett Ave, Des Moines, IA 50321Couriers and MessengersTerm LoanPrime plus 2.75%11/30/20267.7  7.7  7.7  — %
Access Staffing, LLC(#,^)17400 Red Oak Drive, Houston, TX 77090Administrative and Support ServicesTerm LoanPrime plus 2.75%11/29/2026898.7  898.7  906.2  0.28 %
Usman Jalil, LLC dba Food Mart(#,^)1404 Del Prado Blvd Units 100 & 105, Cape Coral, FL 33990Gasoline StationsTerm LoanPrime plus 2.75%11/29/2041220.3  220.3  255.2  0.08 %
WPN Recycling Company LLC(#,^)8132 N. 87th Place, Ste A, Scottsdale, AZ 85258Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/23/202616.4  16.4  17.2  0.01 %
CRK Mens, LLC dba Spiff for Men(#,^)229 Commercial St., Rockport, ME 04856Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/23/202675.6  75.6  76.6  0.02 %
82
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Hafa Adai Signs and Graphics LLC dba Fastsigns of Auburn -#281901(#,^)1000 Roosevelt Ave., Cartaret, NJ 07008Administrative and Support ServicesTerm LoanPrime plus 2.75%11/23/202643.8  43.8  44.3  0.01 %
Bouquet Restaurant LLC(#,^)4 Walker Way, Albany, NY 12205Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/22/204191.6  91.6  107.8  0.03 %
JBK Truck Trailer and Bus Inc.(#,^)714 Greenville Blvd, Ste 0043, Greenville, NC 27858Repair and MaintenanceTerm LoanPrime plus 2.75%11/22/2041392.2  392.2  457.6  0.14 %
Broms Asset Management LLC(#,^)1415 Constitution Rd SE, Atlanta, GA 30316Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%11/22/202690.8  90.8  91.6  0.03 %
6E Technologies LLC(#,^)751 N. Cable Rd, Lima, OH 45805Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/2026114.1  114.1  117.8  0.04 %
Skaggs RV Outlet LLC(#,^)448 W. 19th St, Houston, TX 77008Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/21/202673.0  73.0  76.4  0.02 %
Catherine Christine Morin dba Purr-Fect Pets(#,^)1 Pebble Wood Lane, Palm Coast, FL 32164Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/17/202613.7  13.7  13.8  — %
Stratmar Systems Inc dba Stratmar Retail Services(#,^)2302 N. Kings Hwy, Myrtle Beach, SC 29572Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/16/202650.0  50.0  52.3  0.02 %
Hoosier Health Plus, LLC(#,^)360 Lexington Ave 8th Floor, New York, NY 10017Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/15/202669.1  69.1  72.3  0.02 %
Panther Ironworks and Rigging Solutions LLC(#,^)147 N Washington St., Plainville, CT 06062Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/10/2026115.3  115.3  118.6  0.04 %
J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value(#,^)400 East 52nd St. Apt. 14F, New York, NY 10022Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/10/2041438.5  438.5  513.5  0.16 %
Hackensack Steel Corporation and Luzerne Ironworks Inc(#,^)750 Third Ave, New York, NY 10017Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/10/2026181.9  181.9  190.5  0.06 %
J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value(#,^)1835 Auburn Way N Ste B, Auburn, WA 98002Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/10/2026163.4  163.4  170.8  0.05 %
MIK LLC dba Firehouse Subs(#,^)5101 Andard Ave, Baltimore, MD 21226Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/2026162.6  162.6  164.5  0.05 %
Big Apple Entertainment Partners LLC(#,^)519 Main St., Covington, KY 41011Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/9/2026127.7  127.7  128.7  0.04 %
Dyer Properties, LLC and Bayview Pharmacy, Inc.(#,^)8669 S. State Rd 67, Camby, IN 46113Health and Personal Care StoresTerm LoanPrime plus 2.75%11/9/2041226.8  226.8  263.8  0.08 %
Fine Line Interiors, Inc.(#,^)11001 West 120th Ave, Ste 400, Broomfield, CO 80020Repair and MaintenanceTerm LoanPrime plus 2.75%11/4/204161.4  61.4  72.3  0.02 %
131 Miles LLC and Ohm Shubh Laxmi, LLC. dba Mr Hero(#,^)215 East 79th St. Apt 9E, New York, NY 10075Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/3/2041115.5  115.5  135.5  0.04 %
Veracruz Shabo, LLC(EPC) Waterfalls Quick Lube LLC (OC)(#,^)301 Commerce Drive, Elizabethtown, KY 42701Repair and MaintenanceTerm LoanPrime plus 2.75%11/1/2041111.9  111.9  131.2  0.04 %
83
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Glocecol LLC(#,^)1915 North Austin Ave, Georgetown, TX 78626Administrative and Support ServicesTerm LoanPrime plus 2.75%11/1/202654.7  54.7  57.3  0.02 %
Bloomquist Communications Inc.(#,^)109 Willett Ave, Port Chester, NY 10573Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/202643.3  43.3  43.7  0.01 %
Moolchan Enterprises LLC dba Staying Green(#,^)520 East 8th St., Anderson, IN 46012Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/20267.9  7.9  8.3  — %
Woodstock Enterprises Corp dba True Scent Candle Co(#,^)640 Dubois St., Dubois, PA 15801Miscellaneous ManufacturingTerm LoanPrime plus 2.75%10/31/204183.5  83.5  96.9  0.03 %
Elite Structures Inc(#,^)1028 Washburn Switch Rd, Shelby, NC 28150Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/27/2029184.0  184.0  196.7  0.06 %
Blakeslee Arpaia Chapman Inc and Chapman Construction Services LLC(#,^)640 Dubois St., Du Bois, PA 15801Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%10/24/2026306.8  306.8  321.4  0.10 %
Worldwide Estate, Inc. dba Washington Heights Manor(#,^)300 Sly St., Swoyersville, PA 18709Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%10/21/2041211.2  211.2  248.7  0.08 %
Gold Wind Logistics LLC(#,^)17250 Royalton Rd, Strongsville, OH 44136Truck TransportationTerm LoanPrime plus 2.75%10/20/2041164.7  164.7  193.9  0.06 %
Speaker City, Inc. dba Rollin Thunder(#,^)1221 Brickell Ave, Ste 2660, Miami, FL 33131Electronics and Appliance StoresTerm LoanPrime plus 2.75%10/14/2041117.7  117.7  137.8  0.04 %
Maine Service Corp(#,^)3844 Post Rd, Warwick, RI 2886Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%10/13/2026118.4  118.4  123.4  0.04 %
Justin Partlow(#,^)2530 SW 30th Ave, Hallandale Beach, FL 33009Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%10/13/202614.1  14.1  14.2  — %
Reliable Recovery Services LLC(#,^)13215 Miles Ave, Cleveland, OH 44105Support Activities for TransportationTerm LoanPrime plus 2.75%10/7/202681.2  81.2  83.4  0.03 %
Ailky Corporation(#,^)1325 Broad St., Central Falls, RI 2863Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%10/3/2026171.1  171.1  173.9  0.05 %
Wyspen Corporation dba Charlestown Ace(#,^)10302 NW South River Drive, Bay #18, Miami, FL 33178Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%10/3/202626.0  26.0  26.2  0.01 %
JJA Transportation Management Inc.(#,^)5370 State Rd 84 Bay 3, Davie, FL 33314Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/30/202637.4  37.4  37.7  0.01 %
Adelwerth Bus Corp.(#,^)131 East Trinity Place, Decatur, GA 30030Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/30/2041227.5  227.5  264.9  0.08 %
Seaway LLC and Reklaw LLC dba Allure Lounge(#,^)191 2nd Ave, Warwick, RI 2888Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2041129.0  129.0  152.0  0.05 %
Adelwerth Bus Corporation, Transportation Leasing Corp. and dba Transp(#,^)401 Old Quitman Rd, Abel, GA 31620Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/30/2029524.3  524.3  559.0  0.17 %
Beadon Inc(#,^)200 North Branford Rd, Branford, CT 06405Food and Beverage StoresTerm LoanPrime plus 2.75%9/28/202616.0  16.0  16.8  0.01 %
CNC Precision Machine, Inc.(#,^)10620 W. Greenwood Terrace, Milwaukee, WI 53224Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/28/20411,200.1  1,200.1  1,399.4  0.43 %
84
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Kyle M Walker DDS, PC(#,^)2830 Beech Daly Rd, Inkster, MI 48141Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/27/2026163.8  163.8  166.2  0.05 %
Reynolds Fence & Guardrail Inc.(#,^)246 East Belt Blvd, Richmond, VA 23224Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/27/2026448.8  448.8  466.2  0.14 %
Luv 2 Play Nor Cal, LLC dba Luv 2 Play(#,^)59-22 55th St., Maspeth, NY 11378Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/27/202637.4  37.4  38.2  0.01 %
Sarah S Olelewe MD Inc(#,^)100 Independence Place, Ste 414, Tyler, TX 75703Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/26/2041274.4  274.4  320.3  0.10 %
TPFC,LLC dbaThe Picture Frame Company(#,^)2401 West Mcdowell Rd, Phoenix, AZ 85009Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/26/204155.1  55.1  64.4  0.02 %
Ridge Road Equestrian LLC dba Ricochet Ridge Ranch(#,^)5 Austin St., Charlestown, MA 02129Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%9/26/20266.4  6.4  6.7  — %
PeopleBest Inc.(#,^)352 Beford St., Lakeville, MA 02347Administrative and Support ServicesTerm LoanPrime plus 2.75%9/26/202610.7  10.7  10.8  — %
Cuppiecakes LLC(#,^)423 Montauk Highway, Eastport, NY 11941Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/21/204121.1  21.1  24.6  0.01 %
Wrecking Crew Media LLC(#,^)423 Montauk Highway, Eastport, NY 11941Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/21/202635.6  35.6  35.9  0.01 %
Consulting Solutions Inc. and Mark Luciani(#,^)15 Church St., Upland, PA 19015Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/20/202616.7  16.7  17.3  0.01 %
Benoit's Towing and Recovery LLC(#,^)415 -417 Halsey Drive, Newark, NJ 07102Support Activities for TransportationTerm LoanPrime plus 2.75%9/20/20266.0  6.0  6.1  — %
Atlantic Alarm Systems and Services LLC(#,^)2601 Old Ocean City Rd, Salisbury, MD 21804Administrative and Support ServicesTerm LoanPrime plus 2.75%9/14/202611.0  11.0  11.2  — %
Metropet Dog Center, Inc(#,^)1402 West Park Ave, Orange, TX 77630Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/13/2041102.5  102.5  119.8  0.04 %
Marquis Cattle Company(#,^)9320 Machado Drive, Indian Trail, NC 28079Animal Production and AquacultureTerm LoanPrime plus 2.75%9/13/202636.0  36.0  37.6  0.01 %
SRA Mechanicial Inc(#,^)82 Clarksville Rd, Folsom, CA 95630Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/6/204140.6  40.6  47.8  0.01 %
Animal Intrusion Prevention Systems Holding Company, LLC dba Critter C(#,^)11704 &11712 Hawthorne Blvd, Hawthorne, CA 90250Administrative and Support ServicesTerm LoanPrime plus 2.75%8/30/202696.3  96.3  97.6  0.03 %
Raem Corporation dba Dryclean Express(#,^)5957 Glenway Ave, Cincinnati, OH 45238Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/29/204167.9  67.9  79.8  0.02 %
Warren Dale Warrington dba Custom Paint and Body(#,^)24201 North Highway 1, Fort Bragg, CA 95437Repair and MaintenanceTerm LoanPrime plus 2.75%8/26/204194.8  94.8  111.0  0.03 %
Albert Basse Associates Inc(#,^)19442 Mesa Drive, Villa Park, CA 92861Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%8/25/202643.6  43.6  45.5  0.01 %
Rosmel Pools Inc(#,^)313 S Main St., McGregor, TX 76557Repair and MaintenanceTerm LoanPrime plus 2.75%8/25/202615.9  15.9  16.1  — %
Avery Management Inc. dba Whetstone Upholstery(#,^)229 Commercial Ave, Pittsburgh, PA 15212Repair and MaintenanceTerm LoanPrime plus 2.75%8/25/20267.2  7.2  7.2  — %
TR Companies LLC dba Liberty Rental 4 U(#,^)301 Tabor Rd, Swanton, VT 05488Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/25/202635.0  35.0  35.2  0.01 %
85
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Tabadesa Associates Inc.(#,^)3000 N Federal Hwy 1-1A, Fort Lauderdale, FL 33306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/25/202615.9  15.9  16.0  — %
Sambella Holdings, LLC and Strike Zone Entertainment Center LLC(#,^)165 Amboy Rd, Building G, Ste 703, Morganville, NJ 07734Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/24/2041492.0  492.0  578.4  0.18 %
Luv 2 Play Temecula, LLC(#,^)805 US Hwy 87, Belt, MT 59412Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/15/202642.3  42.3  42.6  0.01 %
2 Cool Beans LLC dba Menchies's Frozen Yogurt(#,^)2057 West Shore Rd, Warwick, RI 02889Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/11/202658.2  58.2  58.5  0.02 %
Grayson O Company(#,^)1186 Ocean Ave, Bayshore, NY 11706Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%8/10/2041585.5  585.5  688.3  0.21 %
Paul Belanger dba Paul Belanger Landscaping(#,^)1362-1366 W. Carrier Pkwy, Grand Prairie, TX 75050Administrative and Support ServicesTerm LoanPrime plus 2.75%8/9/202610.6  10.6  10.6  — %
The Hungry Rhino LLC(#,^)557 West Whitney Rd, Fairport, NY 14450Real EstateTerm LoanPrime plus 2.75%7/29/204171.3  71.3  83.1  0.03 %
Little Tree Huggers Child Care LLC(#,^)705 S Market Ave, Fort Pierce, FL 34982Social AssistanceTerm LoanPrime plus 2.75%7/29/2041130.9  130.9  153.9  0.05 %
303 Tower Drive LLC(#,^)175 Campanelli Pkwy, Stoughton, MA 02072Repair and MaintenanceTerm LoanPrime plus 2.75%7/29/2041374.2  374.2  438.6  0.13 %
USA General Investment LLC dba Braniff Paint and Body Shop(#,^)9300 NW 25th St. Ste 103, Miami, FL 33172Repair and MaintenanceTerm LoanPrime plus 2.75%7/29/202615.7  15.7  15.9  — %
Big Apple Entertainment Partners LLC dba Ripley's Believe It or Not(#,^)1122 N Bloulevard, Richmond, VA 23230Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/28/2026209.3  209.3  210.5  0.06 %
676 Club LP dba The Green Door Tavern/The Drifter(#,^)419 W 49th St. Ste 111, Hialeah, FL 33012Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/28/2041626.5  626.5  735.6  0.22 %
Intrepid Trinity LLC(#,^)410 N Church Rd, Liberty, MO 64068Nonstore RetailersTerm LoanPrime plus 2.75%7/28/204158.4  58.4  68.3  0.02 %
Apple Tree NC Inc dba Williams Farm & Garden Center(#,^)726-740 South Fleming St., Sebastian, FL 32958Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%7/28/2041321.7  321.7  373.8  0.11 %
EPEC Juice LLC dba Jamba Juice(#,^)26469 Ynez Rd, Temecula, CA 92591Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/27/202658.2  58.2  58.6  0.02 %
Pinco Pizza LLC dba Jet's Pizza(#,^)11331 Thienes Ave, South El Monte, CA 91733Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/27/202651.2  51.2  53.5  0.02 %
JAG Unit 1, LLC dba Arooga's Grille House and Sports Bar(#,^)6509 Newell Ave, Kannapolis, NC 28082Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/27/202687.2  87.2  87.7  0.03 %
The Grasso Companies, LLC and Grasso Pavement Maintenance, LLC(#,^)2595 Military Ave, Los Angeles, CA 90064Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%7/26/202663.0  63.0  64.7  0.02 %
Robert G Larson State Farm Insurance(#,^)47 South Main St., Windsor Locks, CT 06096Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/22/202615.7  15.7  15.8  — %
My Sainath Inc dba Motel 6(#,^)2290 NW 21st Terrace, Miami, FL 33142AccommodationTerm LoanPrime plus 2.75%7/22/2041285.5  285.5  334.7  0.10 %
86
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Robert P Daniels dba Ginger and Friend's Peppermint Village Gift Sho(#,^)38620 9 Mile Rd, Farmington Hills, MI 48335Miscellaneous Store RetailersTerm LoanPrime plus 2.75%7/18/202611.0  11.0  11.0  — %
Franklin Firm LLC dba Luv 2 Play(#,^)303 Tower Drive, Ste A, Middletown, NY 10941Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/15/2041150.5  150.5  175.8  0.05 %
RM Hawkins LLC dba Pure Water Tech West(#,^)676 and 678 North Orleans ST, Chicago, IL 60654Nonstore RetailersTerm LoanPrime plus 2.75%7/7/202634.6  34.6  36.1  0.01 %
Nevey's LLC dba Stark Food III(#,^)1221 Brickell Ave, Ste 2660, Miami, FL 33131Food and Beverage StoresTerm LoanPrime plus 2.75%6/30/2041275.3  275.3  323.0  0.10 %
VMA Technologies LLC(#,^)680 Douglas Ave, Providence, RI 02908Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/202615.4  15.4  15.5  — %
Corning Lumber Company Inc and Frank R Close and Son Inc dba Close Pai(#,^)1309 Old Cherry Point Rd, New Bern, NC 28560Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/30/2029154.1  154.1  165.4  0.05 %
Desert Tacos LLC(#,^)810 Ninth St., Ste 128, Durham, NC 27705Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/202669.9  69.9  72.4  0.02 %
Martin Inventory Management LLC(#,^)10845 N. Tatum Blvd Ste A 100, Phoenix, AZ 85028Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/30/202617.0  17.0  17.8  0.01 %
P L H Pharmaco Inc dba Farmacia San Jose(#,^)1 West Main St., Patchogue, NY 11772Health and Personal Care StoresTerm LoanPrime plus 2.75%6/30/2026115.7  115.7  120.9  0.04 %
WGI, LLC dba Williams Grant Inn(#,^)485 Pepper St., Norwalk, CT 06468AccommodationTerm LoanPrime plus 2.75%6/29/2041114.5  114.5  133.9  0.04 %
KWG Industries, LLC dba Peterson & Marsh Metal Industries(#,^)1008 E Crest Drive, Waco, TX 76705Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/29/2041283.8  283.8  332.2  0.10 %
O.D.S. Inc dba Four Seasons Health & Racquet and Step 'N' Motion, Inc(#,^)7922 Jamaica Ave, Woodhaven, NY 11421Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/29/202696.5  96.5  97.7  0.03 %
E & P Holdings 1 LLC and Evans & Paul LLC(#,^)1502 Highway 157, Mansfield, TX 76063Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%6/28/202692.9  92.9  94.2  0.03 %
JumboMarkets Inc dba Rines Jumbomarkets(#,^)1310 East Stan Schleuter Loop, Killeen, TX 76542Food and Beverage StoresTerm LoanPrime plus 2.75%6/24/202634.5  34.5  34.6  0.01 %
Island Time Investments, LLC dba Swantown Inn Bed & Breakfast(#,^)5140 Topaz Drive, Colorado Springs, CO 80918AccommodationTerm LoanPrime plus 2.75%6/24/204194.5  94.5  110.9  0.03 %
Shooting Sports Academy LLC and Jetaa LLC dba Shooting Sports Academy(#,^)304 1/2 Main St., Edgefield, SC 29824Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/23/2041465.0  465.0  538.3  0.16 %
Visual Advantage LLC dba Signs Now Perryberg(#,^)6315 W. Fond Du Lac Ave, Milwaukee, WI 53218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/23/204185.2  85.2  99.0  0.03 %
Long Island Comedy LLC dba Governors and New York Comedy, LLC(#,^)245 East Bell Rd Ste A-2, Phoenix, AZ 85022Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/23/2041175.0  175.0  203.9  0.06 %
Bagelicious, LLC(#,^)120 South Serenata Drive Unit 332, Ponte Vedra Beach, FL 32082Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/17/202637.6  37.6  37.8  0.01 %
87
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Blue Eagle Transport Inc, Greeneagle Transport Inc and Golden Eagle Tr(#,^)1314 Sixth St., Orland, CA 95963Couriers and MessengersTerm LoanPrime plus 2.75%6/16/2026369.3  369.3  370.7  0.11 %
NKJ Lusby Donuts LLC(#,^)149 48th St., Union City, NJ 07087Food and Beverage StoresTerm LoanPrime plus 2.75%6/16/202615.5  15.5  15.6  — %
Jai-Alexia Consulting, Inc.(#,^)626 Delsea Drive N, Glassboro, NJ 08028Couriers and MessengersTerm LoanPrime plus 2.75%6/15/20268.1  8.1  8.2  — %
Pumpkin Patch Child Care of Southington, LLC and Giuseppe Pugliares(#,^)154 High St., Bristol, RI 02809Social AssistanceTerm LoanPrime plus 2%6/15/2041477.5  477.5  525.1  0.16 %
Luv 2 Play AZ LLC(#,^)330 Roycefield Rd, Unit B, Hillsborough, NJ 08844Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/10/202642.9  42.9  44.8  0.01 %
Refoleen Inc dba Spice and Tea Exchange(#,^)140 Dupont St, Plainview, NY 11803Food and Beverage StoresTerm LoanPrime plus 2.75%6/10/202659.6  59.6  59.8  0.02 %
ScimTech Industries Inc dba Archer Aerospace(#,^)98 Jewell St., San Rafael, CA 94901Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/6/20268.3  8.3  8.3  — %
Larry H. Patterson and Rainbow Movers, Inc(#,^)15500 SW Trail Drive, Indiantown, FL 34956Truck TransportationTerm LoanPrime plus 2.75%6/6/202615.5  15.5  15.6  — %
Solvit Inc and Solvit North Inc(#,^)1431 11th Ave SE, Olympia, WA 98501Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/3/2026170.7  170.7  173.9  0.05 %
AP5 LLC dba Krauser's Food Store(#,^)27 Main St., Monroe, CT 06468Food and Beverage StoresTerm LoanPrime plus 2.75%6/2/2041180.7  180.7  212.1  0.06 %
ATI Jet Inc(#,^)90 A Division Ave, Levittown, NY 11756Air TransportationTerm LoanPrime plus 2.75%5/31/2026404.9  404.9  411.4  0.13 %
Premier Athletic Center of Ohio, Inc(#,^)23248 Dunbridge Rd, Perrysburg, OH 43443Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/27/202659.7  59.7  62.2  0.02 %
Angelo Faia dba AVF Construction(#,^)945 S Main St, Cheshire, CT 06410Construction of BuildingsTerm LoanPrime plus 2.75%5/27/204192.6  92.6  107.8  0.03 %
Jack Frost Firewood Inc. and David Dubinsky(#,^)377 Boston Post Rd, Milford, CT 06460Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/26/2041192.1  192.1  223.3  0.07 %
Mersada Holdings LLC(#,^)222 E Wapato Way, Manson, WA 98831Nonstore RetailersTerm LoanPrime plus 2.75%5/26/2026230.1  230.1  239.9  0.07 %
Southwest Division Inc(#,^)174 Village Center Drive, Lusby, MD 20657Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%5/26/20265.6  5.6  5.7  — %
Groth Lumber Co. Inc. dba True Value(#,^)1137 West St., Southington, CT 06489Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/25/202615.3  15.3  16.0  — %
International Kitchen Supply LLC(#,^)14660 Paddock Drive, Wellington, FL 33414Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/25/2026127.3  127.3  129.9  0.04 %
Island Life Graphics Inc dba FASTSIGNS #576(#,^)849 East Commerce St., Ste 121, San Antonio, TX 78205Miscellaneous ManufacturingTerm LoanPrime plus 2.75%5/24/202615.3  15.3  15.5  — %
Powerspec Inc(#,^)15495 Bell Rd, Surprise, AZ 85374Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/24/202659.2  59.2  59.4  0.02 %
Horseshoe Barbecue, LLC(#,^)2325 Hollers Ave, Bronx, NY 10475Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/23/20297.6  7.6  8.2  — %
88
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Pro Auto Repair LLC(#,^)1021 Linden Ave, Chester Springs, PA 19425Repair and MaintenanceTerm LoanPrime plus 2.75%5/20/20265.0  5.0  5.2  — %
National Air Cargo Holdings Inc(#,^)65 Farmington Valley Drive, Plainville, CT 06062Air TransportationTerm LoanPrime plus 2.75%5/20/2026508.6  508.6  530.2  0.16 %
Elderfriend Inc dba Granny Nannies dba GN Live Scan(#,^)5 Pond Point Rd, Milford, CT 06460Social AssistanceTerm LoanPrime plus 2.75%5/20/20268.7  8.7  8.7  — %
Dedicated Incorporated(#,^)7007 Boeing Drive, El Paso, TX 79925Administrative and Support ServicesTerm LoanPrime plus 2.75%5/18/204143.3  43.3  50.5  0.02 %
J&A Laundromat Inc.(#,^)55 Arbour Lane, Sewell, NJ 08080Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/18/202646.0  46.0  46.6  0.01 %
HBA LLC dba Palmetto Twist-Vista(#,^)8957 Kingsridge Drive, Centerville, OH 45459Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/202613.2  13.2  13.4  — %
Studio Find It Georgia Inc(#,^)7320 Governors Hill Lane, Charlotte, NC 28211Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/13/202615.3  15.3  15.5  — %
FJN Catering Inc(#,^)2103 NE 3rd Terrace, Cape Coral, FL 33909Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/13/2041244.2  244.2  286.6  0.09 %
Pumpkin Patch Inc and Christine Feliciano and Antonio Feliciano(#,^)3168 Holland Rd, Virginia Beach, VA 23453Social AssistanceTerm LoanPrime plus 2.75%5/12/2041123.4  123.4  143.6  0.04 %
Sabir Inc. dba Bear Diner(#,^)3466 North Hwy 11, West Union, SC 29696Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/11/2041115.1  115.1  134.7  0.04 %
Gator D'Lites LLC dba D'Lites Emporium(#,^)6747 Pacific Ave, Wright, MN 55798Food and Beverage StoresTerm LoanPrime plus 2.75%5/5/202615.3  15.3  15.4  — %
Marc S. Rosenberg P.C. dba Mammuth and Rosenberg(#,^)1 Linsley Place, Metuchen, NJ 08840Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/29/202615.2  15.2  15.2  — %
Keller, Fishback & Jackson LLP(#,^)1925 S 14th St. No. 7, Amelia Island, FL 32034Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/29/202686.9  86.9  90.5  0.03 %
Loriet LLC(#,^)6555, 6565, 6575 N. Sandario Rd, Tucson, AZ 85743Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%4/29/20265.1  5.1  5.1  — %
Hard Exercise Works Winter Park LLC(#,^)5955 TG Lee Blvd, Ste 500, Orlando, FL 32822Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/29/202627.5  27.5  27.6  0.01 %
Warner Home Comfort, LLC dba Smith Piping(#,^)1499 W. Palmetto Park Rd., Ste #115, Boca Raton, FL 33486Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/29/204176.7  76.7  89.3  0.03 %
May-Craft Fiberglass Products Inc(#,^)204 F St. SW, Quincy, WA 98848Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%4/29/2041230.1  230.1  270.1  0.08 %
Empowerschool LLC and Empower Autism Academy, LLC(#,^)2916 North 39th St., Phoenix, AZ 85019Social AssistanceTerm LoanPrime plus 2.75%4/29/2041141.2  141.2  165.8  0.05 %
Alpha Omega Trucking LLC(#,^)1225-1229 Lincoln St., Columbia, SC 29201Truck TransportationTerm LoanPrime plus 2.75%4/29/2041163.3  163.3  191.7  0.06 %
Costume World Inc(#,^)225 East Park Ave, Long Beach, NY 11561Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%4/28/20411,160.7  1,160.7  1,362.3  0.42 %
Pecos Inn LLC dba Econo Lodge(#,^)106 Main St., Mineola, NY 11951AccommodationTerm LoanPrime plus 2.75%4/28/2041625.9  625.9  732.7  0.22 %
89
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Accent Comfort Services, LLC(#,^)3399 Peachtree Rd NE, Ste 400, Atlanta, GA 30326Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/26/202660.7  60.7  60.9  0.02 %
Automotive Core Recycling, LLC and 828 Old Colony Road, LLC(#,^)11 Kirby Rd, Cromwell, CT 06419Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%4/22/2041232.4  232.4  268.2  0.08 %
AAA Mill Direct, Inc. dba Carpet Mill Outlets(#,^)603 Pulaski Hwy, Bear, DE 19701Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%4/21/20265.3  5.3  5.5  — %
Sushiya Inc(#,^)4216 NW 16th Blvd, Gainsville, FL 32605Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/12/202659.0  59.0  60.0  0.02 %
Waterfalls Quick Lube LLC and Veracruz Shabo LLC(#,^)401 East City Ave Ste 122, Bala Cynwyd, PA 19004Repair and MaintenanceTerm LoanPrime plus 2.75%4/6/2041251.8  251.8  294.3  0.09 %
KNS Early Learning Academy LLC(#,^)28720 Canwood St., Agoura Hills, CA 91301Social AssistanceTerm LoanPrime plus 2.75%4/6/204147.5  47.5  55.2  0.02 %
Men of Steel Enterprises LLC and Vogelbacher Properties LLC(#,^)5001 Vivienda Way, Sarasota, FL 34235Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/31/2041365.2  365.2  420.0  0.13 %
Christian Soderquist dba Soderquist Plumbing and Heating LLC(#,^)11551 University Blvd, Ste. 4C Building 1, Orlando, FL 32817Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/31/204152.7  52.7  61.8  0.02 %
Gill Express Inc and Blue Speed LLC(#,^)1571 Canton Rd., NW, Carrollton, OH 44615Repair and MaintenanceTerm LoanPrime plus 2.75%3/31/2041480.7  480.7  559.7  0.17 %
Vehicle Safety Supply LLC(#,^)96 Hillsboro Rd, Four Oaks, NC 27524Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/31/202615.0  15.0  15.0  — %
Dana A. Farley dba Independent Cabinets(#,^)14432-52 State Line Rd, Brookings, OR 97415Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%3/31/204160.3  60.3  70.7  0.02 %
Cameo Carter, MD A Professional Corporation dba The Garden Pediatric G(#,^)1825 Fort View Rd, Austin, TX 78754Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/202650.0  50.0  50.1  0.02 %
Tom Sawyer Country Restaurant LLC and AM 3208 LLC(#,^)950 South Federal Highway, Deerfield Beach, FL 33441Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/2041238.7  238.7  279.8  0.09 %
Beale Street Blues Company-West Palm Beach, LLC dba Lafayette’s-West P(#,^)2207 W Third St., Pecos, TX 79772Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%3/30/202662.4  62.4  63.2  0.02 %
MTS Car Service LLC(#,^)5035-C West W. T. Harris Blvd, Charlotte, NC 28269Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%3/30/20267.0  7.0  7.0  — %
Gordon Rogers and Heidi Rogers dba Stone House Motor Inn(#,^)27-29 Cooper St., Meriden, CT 06053AccommodationTerm LoanPrime plus 2.75%3/30/202615.2  15.2  15.8  — %
Wyldewood Cellars, Inc.(#,^)747 South Hill St., Griffin, GA 30224Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%3/30/2041960.1  960.1  1,108.3  0.34 %
NOSO Development, LLC(#,^)1 North Armistead Ave, Hampton, VA 23669Construction of BuildingsTerm LoanPrime plus 2.75%3/30/2026124.9  124.9  125.3  0.04 %
Barrocas Gym LLC dba Snap Fitness(#,^)72 South Main St., Hanover, NH 03755Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/29/202612.9  12.9  13.3  — %
Marathon Engineering Corporation(#,^)57 Merritt St. SE, Marietta, GA 30060Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/28/204141.8  41.8  48.8  0.01 %
90
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
PHCDC1 LLC dba Quarter + Glory and Public House Collective, Corp.(#,^)1325 Broad St., Central Falls, RI 02863Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/202633.3  33.3  33.9  0.01 %
Revolution Physical Therapy LLC dba Apex Network Physical Therapy(#,^)2372 Walnut Ave, Livingston, CA 95334Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/25/202615.2  15.2  15.3  — %
ActKnowledge, Inc.(#,^)5805 NE Minder Rd, Poulsbo, WA 98370Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/24/202683.3  83.3  86.6  0.03 %
International Construction Inc(#,^)15 East 72nd St., Ste 14-H, New York, NY 10021Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%3/24/204144.0  44.0  51.1  0.02 %
Precious Care LLC and Precious Care Management LLC(#,^)2039 US Route 130, Burlington, NJ 08016Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/21/2026369.3  369.3  370.6  0.11 %
Media Capital Partners, Inc(#,^)101 East Redlands Blvd, Ste 106, Redlands, CA 92373Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/21/202614.9  14.9  14.9  — %
Kekoa Enterprises Inc dba Signarama Sandy(#,^)7 Oak Drive, Sandy Hook, CT 06482Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/18/202633.0  33.0  33.0  0.01 %
Taylors Zinn Enterprises Inc dba Eons Auto Care Inc(#,^)3208 Forest Hills Blvd, Palm Springs, FL 33406Repair and MaintenanceTerm LoanPrime plus 2.75%3/18/204174.9  74.9  87.8  0.03 %
Brian T Rice dba BD Logging(#,^)550 Rosemary Ave, Ste 236, West Palm Beach, FL 33410Forestry and LoggingTerm LoanPrime plus 2.75%3/17/20261.2  1.2  1.3  — %
K Soles Corp dba Max Collections(#,^)951 East 119th St, Mulvane, KS 67120Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%3/16/202615.0  15.0  15.0  — %
R & D Enterprises Inc dba My Pool Man(#,^)4 Walker Way, Albany, NY 12205Administrative and Support ServicesTerm LoanPrime plus 2.75%3/15/202633.3  33.3  33.3  0.01 %
HEWZ, LLC dba Hard Exercise Works(#,^)162 Danielson Pike, Foster, RI 02825Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/14/202614.9  14.9  15.0  — %
Dupre Capital LLC dba Fastsigns(#,^)9 Gibson Court Apt# 1, Norwalk, CT 06854Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/11/202638.9  38.9  38.9  0.01 %
ABCs & 123s Infant and Child Care Center LP(#,^)260 West Main St., Avon, CT 06001Social AssistanceTerm LoanPrime plus 2.75%3/11/20267.5  7.5  7.5  — %
Faith Summit Supply Inc dba Summit Supply and Summit True Value(#,^)5615 2nd St. W, Lehigh Acres, FL 33971Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/9/202615.0  15.0  15.3  — %
Step Up Academy of the Arts LLC(#,^)2017 14th St. NW, Washington, DC 20009Educational ServicesTerm LoanPrime plus 2.75%3/9/20265.3  5.3  5.3  — %
Swerve Salon LLC(#,^)2705 Dougherty Ferry Rd Ste 104, St. Louis, MO 63122Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/8/202652.6  52.6  52.7  0.02 %
J & W Hardwood Flooring Inc(#,^)53955 Gratiot Ave, Chesterfield, MI 48051Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/7/20265.0  5.0  5.0  — %
Labmates LLC and POV Holdings LLC(#,^)365 5th Ave, New York, NY 10016Miscellaneous Store RetailersTerm LoanPrime plus 2.75%3/4/2041101.4  101.4  118.8  0.04 %
Hueston and Company CPA LLC(#,^)186-06 Union Turnpike, Fresh Meadows, NY 11364Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/4/20265.4  5.4  5.5  — %
91
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Almost Home Daycare LLC(#,^)809 Cedar Rd, Southport, CT 06890Social AssistanceTerm LoanPrime plus 2.75%3/3/202635.8  35.8  37.2  0.01 %
The River Beas, LLC dba Subway and Punam Singh(#,^)8942 South 700 East, Sandy, UT 84070Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2041125.4  125.4  146.8  0.04 %
Powerpits CS1, LLC dba Pita Pit(#,^)330 West Harden St., Graham, NC 27253Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/20262.6  2.6  2.7  — %
Drug Detection Laboratories, Inc. and Minh Tran(#,^)5229 142nd Dr. NW, Williston, ND 58801Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/28/202613.0  13.0  13.1  — %
Living Essentials HVAC Corp(#,^)800 3rd St Apt B, St Marys, WV 26170Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/20269.9  9.9  9.9  — %
Consulting Solutions, Inc. and Mark Luciani(#,^)3208 Oakcliff Industrial St., Doraville, GA 30340Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/28/20267.8  7.8  8.1  — %
Aaradhya LLC dba Market Square Laundry(#,^)291 North Texas Ave., Orlando, FL 32805Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/23/202651.0  51.0  51.0  0.02 %
Blackstones Hairdressing LLC(#,^)5684 West Sample Rd, Coral Springs, FL 33071Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/23/202634.5  34.5  34.6  0.01 %
R & K Contracting Inc(#,^)13419 Hwy 290E., Bldg 5, Manor, TX 78653Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/18/202610.4  10.4  10.8  — %
Jersey Shore Marina & Boat Sales, Inc.(#,^)215 Quartermaster Court, Jeffersonville, IN 47130Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/12/2041579.9  579.9  679.6  0.21 %
Ei3 Corporation(#,^)831 Buckley Rd, San Luis Obispo, CA 93401Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/12/2026215.1  215.1  223.7  0.07 %
Gilmore Heights Dental Holdings, LTD and Chas Rob LLC(#,^)2558 Wigwam Pkwy Ste A, Henderson, NV 89074Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/12/2029238.1  238.1  249.8  0.08 %
B for Blonde, LLC dba Blo Blow Dry Bar(#,^)8584 US Business Highway 277, Haskell, TX 79521Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/12/202641.3  41.3  41.3  0.01 %
Base USA, Inc.(#,^)1419 N Wells St., Chicago, IL 60610Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%2/2/202632.9  32.9  34.3  0.01 %
Zouk Ltd dba Palma(#,^)14967 Madison St, Brighton, CO 80602Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/29/202614.6  14.6  15.2  — %
SuzyQue's LLC dba SuzyQue's(#,^)141 Watertown Rd, Thomaston, CT 06787Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/28/202614.5  14.5  15.1  — %
Wildflour Bakery & Cafe LLC(#,^)8792 East State Rd 70, Ste B, Bradenton, FL 34202Social AssistanceTerm LoanPrime plus 2.75%1/28/202640.6  40.6  42.3  0.01 %
Tammy Lavertue(#,^)35 Copps Hill Rd, Ridgefield, CT 06877Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%1/28/20267.3  7.3  7.6  — %
Gendron Funeral and Cremation Services, Inc.(#,^)42 West St., Apt 24, Randolph, MA 02368Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/11/2041103.2  103.2  120.9  0.04 %
Dolarian Realty LLC and OV's Restaurant Inc(#,^)3000 N Federal Highway, STE 1, Fort Lauderdale, FL 33306Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/5/204162.6  62.6  73.4  0.02 %
92
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Lemonberry Food Stores Inc dba Lemonberry Frozen Yogurt(#,^)2008 S Texas Ave, College Station, TX 77840Food and Beverage StoresTerm LoanPrime plus 2.75%12/29/202572.3  72.3  74.6  0.02 %
MCF Forte LLC(#,^)9700 Business Park Drive, Sacramento, CA 95827Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/29/202512.0  12.0  12.4  — %
Panditos LLC dba White Lotus Home(#,^)5516 Baltimore Ave, Hyattsville, MD 20781Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/28/202510.2  10.2  10.5  — %
Ridge Road Equestrian LLC dba Ricochet Ridge Ranch Inc(#,^)7727 Crittenden St., Philadelphia, PA 19118Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/23/204094.5  94.5  111.2  0.03 %
800 on the Trax LLC and Matrix Z LLC(#,^)2 Ave of the Americas, New York, NY 10013Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%12/23/2040228.7  228.7  268.8  0.08 %
Premier Athletic Center of Ohio Inc. and Gates Investments and Wade Ga(#,^)3605 NW 31st Ave, Fort Lauderdale, FL 33309Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/22/2028666.3  666.3  714.0  0.22 %
Joyce Outdoor Advertising Chicago LLC(#,^)136 Summit Ave, Montvale, NJ 07645Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/22/2040277.6  277.6  326.2  0.10 %
Hattingh Incorporated dba Prosthetic Care Facility(#,^)142 East 49th St., New York, NY 10017Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/202511.6  11.6  11.9  — %
Accent Tag and Label Inc(#,^)2250 Warrensville Center Rd, University Heights, OH 44118Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%12/18/2040611.3  611.3  719.1  0.22 %
Abbondanza Market LLC dba Hampton Falls Village Market(#,^)841 Route 70 East, Brick, NJ 08724Food and Beverage StoresTerm LoanPrime plus 2.75%12/18/202538.1  38.1  39.2  0.01 %
Trip Consultants U.S.A. Inc.(#,^)2215 NW 2nd Ave, Miami, FL 33127Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/2025106.7  106.7  109.3  0.03 %
Labmates LLC(#,^)28 Cornelia St., New York, NY 10014Miscellaneous Store RetailersTerm LoanPrime plus 2.75%12/18/2040149.8  149.8  176.7  0.05 %
Moments to Remember USA LLC dba Retain Loyalty(#,^)34 South Valley Rd, West Orange, NJ 07052Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/16/202555.6  55.6  57.7  0.02 %
New York Home Health Care Equipment, LLC(#,^)24 Wakefield St., Rochester, NH 03867Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/16/2025664.6  664.6  692.4  0.21 %
Abitino's JFK LLC dba Abitino's(#,^)5137 Clareton Dr., Ste 100, Agoura Hills, CA 91301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/202254.4  54.4  54.6  0.02 %
Swalm Street LLC and New York Home Health Care Equipment LLC(#,^)135 North Lime Ave, Sarasota, FL 34237Ambulatory Health Care ServicesTerm Loan7.5%12/16/2040327.9  327.9  307.7  0.09 %
JAG Unit 1, LLC(#,^)34 Old Colony Ave, East Taunton, MA 02718Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/2025160.6  160.6  164.5  0.05 %
Evans & Paul LLC and E&P Holdings I LLC(#,^)1196 Inverness Lane, Stow, OH 44224Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%12/15/202586.9  86.9  89.5  0.03 %
DC Enterprises Ltd. dba Lakeview True Value(#,^)1245 W Baseline Rd Unit 105, Mesa, AZ 85202Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%12/14/202514.5  14.5  15.0  — %
Basista Family Limited Partnership and UPE, Inc.(#,^)431 Raritan Ave, Highland Park, NJ 08904Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/14/2040315.8  315.8  371.3  0.11 %
93
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Cares, Inc dba Dumpling Grounds Day Care Center(#,^)24201 North Hwy 1, Fort Bragg, CA 95437Social AssistanceTerm LoanPrime plus 2.75%12/10/20254.8  4.8  5.0  — %
Custom Exteriors, Inc.(#,^)800 SW 21st Terrace, Fort Lauderdale, FL 33312Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/9/202564.2  64.2  66.1  0.02 %
Sushiya, Inc.(#,^)8957 Kingsridge Drive, Centerville, OH 45459Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/8/202569.8  69.8  72.0  0.02 %
LC Blvd Holdings LLC and Mt Pleasant Wash & Wax LLC(#,^)2443 West 16th St., Chicago, IL 60608Repair and MaintenanceTerm LoanPrime plus 2.75%12/4/2040462.8  462.8  544.9  0.17 %
Japp Business Inc dba Pick and Eat and Japp Drink Corp.(#,^)4415 Woodridge Pkwy, Ste 180, Leesburg, VA 20176Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/30/202578.8  78.8  81.3  0.02 %
DWeb Studio, Inc.(#,^)141 Watertown Rd, Thomaston, CT 06787Educational ServicesTerm LoanPrime plus 2.75%11/25/20257.1  7.1  7.3  — %
Sambella Holdings, LLC and Strike Zone Entertainment Center LLC(#,^)82 Lafayette Rd, Hampton Falls, NH 03844Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%11/23/2040700.0  700.0  656.9  0.20 %
Ronny Ramirez RX Corp dba Naturxheal Family Pharmacy(#,^)2201 Rittenhouse St, Des Moines, IA 50321Health and Personal Care StoresTerm LoanPrime plus 2.75%11/20/202557.0  57.0  58.6  0.02 %
S.B.B. Enterprises Inc dba Williamston Hardware(#,^)311 85th St., Brooklyn, NY 11209Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/19/204099.9  99.9  116.8  0.04 %
Key Pix Productions Inc. dba Air Bud Entertainment(#,^)30 Hopper St., Westbury, NY 11590Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%11/18/2040506.4  506.4  597.3  0.18 %
E.S.F.P. LLC dba Volusia Van and Storage(#,^)1250 Sanders Ave SW, Massillon, OH 44646Truck TransportationTerm LoanPrime plus 2.75%11/11/202556.1  56.1  57.7  0.02 %
Green Life Lawnscapes LLC dba Green Life Lawn Care(#,^)1 West Main St., Patchogue, NY 11772Administrative and Support ServicesTerm LoanPrime plus 2.75%11/6/202591.6  91.6  95.4  0.03 %
JumboMarkets Inc dba Rines Jumbomarkets(#,^)Terminal 8 JFK ExpressWay Airport, Jamaica, NY 11430Food and Beverage StoresTerm LoanPrime plus 2.75%11/4/2025194.2  194.2  202.3  0.06 %
Financial Network Recovery Inc(#,^)30 Hopper St., Westbury, NY 11590Administrative and Support ServicesTerm LoanPrime plus 2.75%10/26/202525.1  25.1  25.7  0.01 %
ADMO Inc dba Mid States Equipment(#,^)140 Dupont St., Plainview, NY 11803Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%10/8/202514.1  14.1  14.5  — %
Recycling Consultants, Inc. and Prairie State Salvage and Recycling In(#,^)3401 Brecksville Rd, Richfield, OH 44286Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/30/2027425.8  425.8  448.9  0.14 %
SCJEN Management Inc dba Bowl of Heaven(#,^)318 North F St., Lakeview, OR 97630Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/202544.5  44.5  45.6  0.01 %
Barub Realty LLC and Barub LLC dba Woodlawn Cabinets(#,^)1068 Old Colony Rd, Meriden, CT 06450Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%9/30/2040130.8  130.8  154.3  0.05 %
R.H. Hummer Jr., Inc.(#,^)4508 Blakiston St., Philadelphia, PA 19136Truck TransportationTerm LoanPrime plus 2.75%9/30/2025251.4  251.4  261.9  0.08 %
94
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Accent Homes Services LLC dba Benjamin Franklin Plumbing of Kansas Cit(#,^)2142 Rheem Drive, Ste E, Pleasanton, CA 94588Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/30/202849.1  49.1  52.6  0.02 %
Binky's Vapes LLC(#,^)72-74 South Main St., Hanover, NH 03755Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/30/202513.9  13.9  14.2  — %
RIM Investments LLC and RIM Architects LLC(#,^)880 Lowcountry Blvd, Mount Pleasant, SC 29464Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/28/2040365.6  365.6  429.5  0.13 %
Greensward of Marco Inc.(#,^)4179 Broadway, New York, NY 10033Administrative and Support ServicesTerm LoanPrime plus 2.75%9/28/204080.2  80.2  94.2  0.03 %
The Grasso Companies LLC and Grasso Pavement Maintenance LLC Veranda L(#,^)10800 E. Bethany Drive, Ste 275, Aurora, CO 80014Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/28/2025301.3  301.3  313.1  0.10 %
Prestigious LifeCare for Seniors LLC(#,^)403 S Dillard St, Winter Garden, FL 34787Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/25/20256.1  6.1  6.3  — %
Daniel W. Stark dba Mountain Valley Lodge and RV Park(#,^)726-740 South Fleming St., Sebastian, FL 32958AccommodationTerm LoanPrime plus 2.75%9/25/204012.4  12.4  14.6  — %
Yachting Solutions LLC(#,^)3105 107th Ave, Doral, FL 33178Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%9/25/2040882.1  882.1  1,034.4  0.32 %
Sandlot Ventures LLC and Sandbox Ventures LLC(#,^)139 S Putnam St., Williamston, MI 48895Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/25/2040413.4  413.4  484.7  0.15 %
St Lawrence Hotel Corp and Oheka Catering Inc dba Quality Inn(#,^)22525 Pacific Coast Highway, Malibu, CA 90265AccommodationTerm LoanPrime plus 2.75%9/24/2040572.7  572.7  672.5  0.21 %
Finish Strong Inc dba FASTSIGNS St Peters(#,^)916 South Nova Rd, Ormond Beach, FL 32174Miscellaneous ManufacturingTerm LoanPrime plus 2.75%9/23/202530.9  30.9  31.6  0.01 %
IIoka Inc dba New Cloud Networks(#,^)1820 NE Jensen Beach Blvd, Jensen Beach, FL 34957Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/21/2025412.8  412.8  422.0  0.13 %
Sound Manufacturing Inc(#,^)15500 SW Trail Drive, Indiantown, FL 34956Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/202530.6  30.6  31.5  0.01 %
Vanderhoof LLC dba Soxfords(#,^)250 E Easy St. Ste 1, Simi Valley, CA 93065Apparel ManufacturingTerm LoanPrime plus 2.75%9/18/20259.4  9.4  9.6  — %
MiJoy Inc dba Imo's Pizza(#,^)16180 Westwoods Business Park, Ellisville, MO 63021Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/18/20255.1  5.1  5.2  — %
Naeem Khan LTD(#,^)PO Box 468, Wood River, IL 62095Apparel ManufacturingTerm LoanPrime plus 2.75%9/17/202577.2  77.2  78.9  0.02 %
FirstVitals Health and Wellness Inc(#,^)43958 Pacific Common Blvd, Fremont, CA 94538Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/15/202592.5  92.5  94.6  0.03 %
Almost Home Daycare LLC(#,^)10539 Greenbelt Rd Ste 102, Lanham, MD 20706Social AssistanceTerm LoanPrime plus 2.75%9/11/20256.7  6.7  7.0  — %
Gardner's Wharf Holdings LLC and Gardner's Wharf Seafood Inc(#,^)1838 Adee Ave, Baychester, NY 10469Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%9/8/2040128.3  128.3  151.0  0.05 %
Empower Autism Academy(#,^)7748 Troost Ave, Kansas City, MO 64131Social AssistanceTerm LoanPrime plus 2.75%9/4/2040627.7  627.7  739.1  0.23 %
95
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Elite Institute LLC dba Huntington Learning Center(#,^)2141 P Ave, Williamsburg, IA 52361Educational ServicesTerm LoanPrime plus 2.75%8/28/20259.3  9.3  9.5  — %
God Be Glorified Inc dba GBG Inc(#,^)54 Marco Lake Drive, Marco Island, FL 34146Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/20/202532.3  32.3  33.0  0.01 %
3000 CSI Property LLC and Consulting Solutions Inc(#,^)645 G St. Ste 400, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/20/2040127.8  127.8  150.4  0.05 %
GDP Gourmet LLC dba Joe and John's Pizza Restaurant(#,^)485 Pepper St., Monroe, CT 06468Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/19/2040132.5  132.5  155.5  0.05 %
Gold Jet Corp.(#,^)5701 North Pine Island Rd, Tamarac, FL 33321Couriers and MessengersTerm LoanPrime plus 2.75%8/14/202543.5  43.5  45.0  0.01 %
SKJ Inc dba Subway(#,^)1857A Elmdale Ave, Glenview, IL 60025Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/13/202551.2  51.2  52.4  0.02 %
LP Industries Inc dba Childforms(#,^)229 Commercial St, Rockport, ME 04856Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%7/29/202574.5  74.5  77.3  0.02 %
Beale Street Blues Company-West Palm Beach LLC dba Lafayette's-West Pa(#,^)223 Hwy 80, Rodeo, NM 88056Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%7/24/202539.8  39.8  40.9  0.01 %
Smart Artists Inc.(#,^)10 West Orvis St., Massena, NY 13662Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%7/23/202513.5  13.5  13.8  — %
Free Ion Advisors LLC(#,^)98 North Hillview Drive, St Peters, MO 63376Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/21/202538.6  38.6  39.5  0.01 %
Murrayville Donuts, Inc dba Dunkin' Donuts(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Food and Beverage StoresTerm LoanPrime plus 2.75%7/15/2040330.7  330.7  387.1  0.12 %
Union 2 LLC dba The Standard(#,^)160 Inverness Drive W Ste 150, Englewood, CO 80112Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/10/202565.1  65.1  67.2  0.02 %
Jonathan E Nichols and Nichols Fire and Security LLC(#,^)11 Sellecks Walk, Pound Ridge, NY 10576Administrative and Support ServicesTerm LoanPrime plus 2.75%6/30/202544.5  44.5  46.2  0.01 %
Thrifty Market, Inc. dba Thrifty Foods(#,^)215 South Kirkwood Rd, Kirkwood, MO 63122Food and Beverage StoresTerm LoanPrime plus 2.75%6/30/2030218.0  218.0  234.6  0.07 %
Myclean Inc.(#,^)260 West 36h St., New York, NY 10018Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/29/20259.4  9.4  9.6  — %
Summit Beverage Group LLC(#,^)1288 Ala Moana Blvd Ste 27E, Honolulu, HI 96814Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%8/29/2030227.8  227.8  245.8  0.08 %
Jihan Inc dba ARCO AM/PM and Diana Inc dba Diana's Recycling(#,^)35 Copps Hill Rd, Ridgefield, CT 06877Gasoline StationsTerm LoanPrime plus 2.75%6/26/2040346.1  346.1  406.0  0.12 %
TJU-DGT Inc dba The Lorenz Cafe(#,^)170 Main St., North Kingstown, RI 02852Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/202915.5  15.5  16.7  0.01 %
SofRep, Inc dba Force 12 Media(#,^)11316 Wet Season Drive, Austin, TX 78754Other Information ServicesTerm LoanPrime plus 2.75%6/26/202538.5  38.5  39.3  0.01 %
CEM Autobody LLC dba Dawn's Autobody(#,^)39 Kingstown Rd, Wyoming, RI 02898Repair and MaintenanceTerm LoanPrime plus 2.75%6/26/2040123.2  123.2  144.4  0.04 %
E & G Enterprises LLC dba Comfort Keepers(#,^)13526 Village Park Drive Ste 214, Orlando, FL 32837Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/26/202513.3  13.3  13.6  — %
96
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Ohs Auto Body, Inc. dba Ohs Body Shop(#,^)3000 N Federal Highway, Ste 1, Fort Lauderdale, FL 33306Repair and MaintenanceTerm Loan7.22%6/25/20401,111.0  1,111.0  1,037.2  0.32 %
Wolf Enviro Interests, LLC and Enviromax Services Inc(#,^)40 West. 162nd St, South Holland, IL 60473Administrative and Support ServicesTerm LoanPrime plus 2.75%6/25/2040224.5  224.5  261.5  0.08 %
Evinger PA One, Inc. dba Postal Annex, Falcon(#,^)136 New Jersey Ave, Absecon, NJ 08201Miscellaneous Store RetailersTerm LoanPrime plus 2.75%6/24/202513.3  13.3  13.7  — %
RJI Services, Inc.(#,^)2472 Broadway, New York, NY 10025Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/23/202513.3  13.3  13.6  — %
Real Help LLC dba Real Help Decorative Concrete(#,^)401 S Woodlawn Ave, Bloomington, IN 47401Administrative and Support ServicesTerm LoanPrime plus 2.75%6/22/202531.5  31.5  32.7  0.01 %
KRN Logistics, LLC and Newsome Trucking, Inc(#)110 Charleston Drive, Mooresville, NC 28117Truck TransportationTerm LoanPrime plus 2.75%6/19/2025306.8  306.8  316.5  0.10 %
PM Cassidy Enterprises, Inc. dba Junk King(#,^)550 Rosemary Ave, Ste 236, West Palm Beach, FL 33401Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/19/20258.8  8.8  9.0  — %
Inverted Healthcare Staffing of Florida LLC dba Interim Healthcare Tra(#,^)450 West 24th St. Ste 1C, New York, NY 10011Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/18/202527.6  27.6  28.2  0.01 %
AM PM Properties, LLC and AM PM Willington, LLC(#,^)322 Evandale Rd, Scarsdale, NY 10583Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/17/204079.1  79.1  92.9  0.03 %
Mirage Plastering Inc and Mpire LLC and Mpire II LLC(#,^)2304 N College Rd, Wilmington, NC 28405Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/12/2040126.4  126.4  146.7  0.04 %
Eldredge Tavern LLC dba Gonyea's Tavern(#,^)1520 Broadway, Fort Myers, FL 33901Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/8/204051.2  51.2  60.2  0.02 %
ViAr Visual Communications, Inc. dba Fastsigns 281701(#,^)1906 Vanderhorn Drive, Memphis, TN 38134Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/5/202536.8  36.8  37.6  0.01 %
Chitalian Fratelli LLC dba Francesca Brick Oven Pizza and Pasta(#,^)702 10th St, Wheatland, WY 82201Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/5/20259.0  9.0  9.2  — %
Video Vault & Tanning LLC and Mosaic Salon LLC(#)247 West 36th St. 9th Floor, New York, NY 10018Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/4/204060.9  60.9  71.6  0.02 %
Medworxs LLC(#,^)211 Washington Ave, Marion, VA 24354Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/3/202574.1  74.1  75.7  0.02 %
XCESSIVE THROTTLE, INC dba Jake's Roadhouse(#,^)714-718 Lorenz Ave, Pittsburgh, PA 15220Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/20254.8  4.8  4.9  — %
Villela CPA PL(#,^)13886 Campo Rd, Jamul, CA 91935Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/27/20255.3  5.3  5.4  — %
Douglas Posey and Sally Watkinson dba Audrey's Farmhouse(#,^)930 Tahoe Blvd Ste 802-543, Incline Village, NV 89451AccommodationTerm LoanPrime plus 2.75%5/20/2040158.2  158.2  185.7  0.06 %
15 McArdle LLC and No Other Impressions Inc(#,^)7 Division St, Keyport, NJ 07735Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%5/15/2040167.3  167.3  196.0  0.06 %
Guard Dogs MFS LLC(#,^)220 Middle St., Franklin, VA 23851Repair and MaintenanceTerm LoanPrime plus 2.75%5/8/202536.3  36.3  37.1  0.01 %
97
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
South Park Properties LLC and Midlothian Hardware LLC(#,^)3560 Highway 93 South, Kalispell, MT 59901Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/6/204043.4  43.4  51.0  0.02 %
Matthew Taylor and Landon Farm LLC(#,^)18002 Mueschke Rd, Cypress, TX 77433Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/4/204091.2  91.2  106.0  0.03 %
Cares Inc dba Dumpling Grounds Day Care Center(#,^)7661 McLaughlin Rd, Falcon, CO 80831Social AssistanceTerm LoanPrime plus 2.75%5/1/204073.6  73.6  86.5  0.03 %
Orchid Enterprises Inc dba Assisting Hands of Sussex County(#,^)353 E Angeleno Ste G, Burbank, CA 91502Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/24/20258.6  8.6  8.8  — %
Diamond Solutions LLC(#,^)2221 Broadway St., Buffalo, NY 14212Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%4/21/202511.1  11.1  11.4  — %
Giacchino Maritime Consultants Inc(#,^)2262 Hwy 53 W, Jasper, GA 30143Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/17/202512.9  12.9  13.2  — %
Sound Coaching Inc(#,^)960 Matley Lane, Ste 20 & 21, Bldg B, Reno, NV 89502Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%4/14/202525.6  25.6  26.1  0.01 %
Faramarz Nikourazm dba Car Clinic Center(#,^)111 N Pompano Beach Blvd, Pompano Beach, FL 33062Repair and MaintenanceTerm LoanPrime plus 2.75%4/3/204066.6  66.6  78.0  0.02 %
Copper Beech Financial Group LLC(#,^)1308 Stafford Rd, Storrs Mansfield, CT 06268Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%3/30/202571.0  71.0  73.2  0.02 %
Sunset Marine Resort LLC and GoXpeditions LLC and Lavon Gomes and Trac(#,^)1802 W Grant Rd Ste 114, Tucson, AZ 85745AccommodationTerm LoanPrime plus 2.75%3/27/2040273.0  273.0  320.9  0.10 %
Shellhorn and Hill Inc dba Total Fleet Service(#,^)150 Main St., Pascoag, RI 02859Nonstore RetailersTerm LoanPrime plus 2.75%3/27/2040937.4  937.4  1,092.7  0.33 %
Foresite Realty Partners LLC and Foresite Real Estate Holdings LLC(#,^)234 Rock Rd, Glen Rock, NJ 07452Real EstateTerm LoanPrime plus 2.75%3/27/2025703.0  703.0  715.3  0.22 %
Shorr Enterprises Inc dba New Design Furniture Manufacturers(#,^)4721 University Way NE, Seattle, WA 98105Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%3/27/202560.5  60.5  62.4  0.02 %
Joyce Outdoor Advertising NJ LLC and Joyce Outdoor Advertising LLC(#,^)W7003 Parkview Dr, Ste A & B, Greenville, WI 54942Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/26/204048.9  48.9  57.4  0.02 %
Zero-In Media Inc(#,^)10901 W. Toller Drive, Littleton, CO 80127Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%3/25/202512.8  12.8  13.0  — %
Loriet LLC(#,^)5980 Lamar St., Arvada, CO 80003Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%3/24/20256.8  6.8  6.9  — %
Jaymie Hazard dba Indigo Hair Studio and Day Spa(#,^)777 Brickell Ave, Ste 500, Miami, FL 33131Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/20/204038.7  38.7  45.2  0.01 %
Shelton Incorporated dba Mrs. Winners(#,^)2188 Brunswyck Rd, Wallkill, NY 12589Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/20/2040101.8  101.8  119.4  0.04 %
R & R Security and Investigations Inc dba Pardners Lake Buchanan(#,^)15 McArdle St., Rochester, NY 14611Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/19/204077.1  77.1  90.5  0.03 %
98
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
MMS Realty, LLC and Molecular MS Diagnostics LLC(#,^)9460 Mistwater Close, Roswell, GA 30076Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/18/2040145.4  145.4  169.8  0.05 %
Royal Crest Motors LLC(#,^)1066 Chelsea Ave, Napoleon, OH 43545Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/16/204082.5  82.5  96.5  0.03 %
Luigi's on Main LLC and Luigi's Main Street Pizza Inc(#,^)4751 147th St., Midlothian, IL 60445Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/4/20256.4  6.4  6.6  — %
Baystate Firearms and Training, LLC(#)6103 N Church St, Greensboro, NC 27455Educational ServicesTerm LoanPrime plus 2.75%2/27/202533.1  33.1  33.7  0.01 %
Pace Motor Lines, Inc.(#,^)4508 Blakiston St., Philadelphia, PA 19136Truck TransportationTerm LoanPrime plus 2.75%2/26/202536.6  36.6  37.9  0.01 %
Kingseal LLC dba Desoto Health and Rehab Center(#,^)274 Spring St., Newton, NJ 07860Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%2/26/20401,153.3  1,153.3  1,353.2  0.41 %
Nelson Financial Services LLC(#,^)288 Derby St., Salem, MA 01970Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/24/20257.0  7.0  7.1  — %
Kiddie Steps 4 You Inc.(#,^)7655 E Gelding Drive, Ste B2, Scottsdale, AZ 85260Social AssistanceTerm LoanPrime plus 2.75%2/19/204055.8  55.8  65.1  0.02 %
Triangle Trash LLC dba Bin There Dump That(#,^)5219 Tamiami Court, Cape Coral, FL 33904Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/18/202541.5  41.5  42.7  0.01 %
Dean 1021 LLC dba Pure Pita(#,^)4749 Main St. Ste 3, Bridgeport, CT 06606Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/29/202549.1  49.1  50.2  0.02 %
Limameno LLC dba Sal's Italian Ristorante(#,^)10707 Shady Trail, Dallas, TX 75220Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/23/202545.8  45.8  46.9  0.01 %
Palmabak Inc dba Mami Nora's(#,^)1223 North Church St., Moorestown, NJ 08057Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/22/20253.4  3.4  3.5  — %
Jung Design Inc(#,^)40 Buzzard Ridge Rd, Sequim, WA 98382Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/20/20222.3  2.3  2.3  — %
Grand Blanc Lanes, Inc. and H, H and H, LLC(#,^)5600 N. River Rd #925, Rosemont, IL 60018Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/31/2039119.4  119.4  140.6  0.04 %
Evans and Paul LLC(#,^)501 South Market St, Wilmington, DE 19801Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/30/2024131.7  131.7  136.5  0.04 %
First Prevention and Dialysis Center, LLC(#)3033 NW 28 St., Lauderdale Lakes, FL 33311Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2024149.6  149.6  155.1  0.05 %
Bowlerama Inc(#,^)800 James Ave, Scranton, PA 18510Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/24/20391,082.6  1,082.6  1,273.1  0.39 %
The Lodin Group LLC and Lodin Health Imaging Inc dba Highlands Breast(#,^)1123 Broadway Ste 704, New York, NY 10010Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/23/2039476.7  476.7  558.9  0.17 %
Thermoplastic Services Inc and Paragon Plastic Sheet, Inc(#,^)5001 Vivienda Way, Sarasota, FL 34235Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%12/23/2039449.5  449.5  528.6  0.16 %
Beale Street Blues Company-West Palm Beach, LLC dba Lafayette Music Ha(#,^)4509 N. Henry Blvd, Stockbridge, GA 30281Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/22/2024101.6  101.6  104.8  0.03 %
MM and M Management Inc dba Pizza Artista(#,^)2016 Warwick Ave, Warwick, RI 02889Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/19/202526.5  26.5  27.4  0.01 %
99
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Will Zac Management LLC dba Papa John's(#)15615 State Route 29, Buchanan Dam, TX 78609Food Services and Drinking PlacesTerm Loan6.25%12/19/202476.2  76.2  74.1  0.02 %
The Jewelers Inc. dba The Jewelers of Las Vegas(#,^)1224 Greenwich Ave, Warwick, RI 02886Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%12/19/2024671.0  671.0  690.1  0.21 %
B.S. Ventures LLC dba Dink's Market(#,^)769 Amesbury Rd, Haverhill, MA 01830Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/19/203948.3  48.3  56.8  0.02 %
B & W Towing, LLC and Boychucks Fuel LLC(#,^)491 Montauk Highway, Eastport, NY 11941Repair and MaintenanceTerm LoanPrime plus 2.75%12/17/2039147.6  147.6  173.2  0.05 %
Kemmer LLC and Apples Tree Top Liquors LLC(#)215 Newbury St., Peabody, MA 01960Food and Beverage StoresTerm LoanPrime plus 2.75%12/4/2039124.1  124.1  145.6  0.04 %
Teamnewman Enterprises LLC dba Newmans at 988 and John H. Newman(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/2039106.5  106.5  125.2  0.04 %
Legacy Estate Planning Inc dba American Casket Enterprises(#,^)475 Nursing Home Drive, Arcadia, FL 34266Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/21/202422.4  22.4  23.0  0.01 %
DC Real LLC and DC Enterprises LTD dba Lakeview True Value(#,^)20015 N 83rd Place, Scottsdale, AZ 85255Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/20/2039107.6  107.6  126.4  0.04 %
Heartland American Properties LLC and Skaggs RV Outlet LLC(#,^)1700 West 63rd St., Chicago, IL 60636Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%10/31/2039428.6  428.6  503.7  0.15 %
One Hour Jewelry Repair Inc(#,^)188 Northbend Drive, Youngsville, NC 27596Repair and MaintenanceTerm LoanPrime plus 2.75%10/14/202410.8  10.8  11.1  — %
DNT Storage and Properties LLC(#,^)106 Central Ave, Westfield, NJ 07090Real EstateTerm LoanPrime plus 2.75%10/10/203991.1  91.1  107.1  0.03 %
Sound Manufacturing Inc(#,^)861 Yamato Rd, Bay #2, Boca Raton, FL 33431Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/10/202497.2  97.2  100.2  0.03 %
Doctors Express Management of Central Texas LLC(#,^)4614 Capital Blvd, Raleigh, NC 27604Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/8/20243.4  3.4  3.5  — %
Smith Spinal Care Center P.C. and James C. Smith(#,^)10857 Pine Bluff Drive, Fishers, IN 46037Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/8/203925.7  25.7  30.2  0.01 %
Michael Rey Jr. and Lynn J. Williams (EPC) and GIG Petcare dba Hickory(#,^)5301 S Saginaw Rd, Flint, MI 48507Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/3/2039109.7  109.7  129.0  0.04 %
Sumad LLC dba BrightStar Care of Encinitas(#,^)140 Dupont St., Plainview, NY 11803Administrative and Support ServicesTerm LoanPrime plus 2.75%10/2/202427.9  27.9  28.8  0.01 %
Roccos LLC and Sullo Pantalone Inc dba Rocco's(#,^)17940 NW 27th Ave, Miami Gardens, FL 33056Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2039228.4  228.4  268.0  0.08 %
Gordon E Rogers dba Stonehouse Motor Inn(#,^)3031 New Castle Ave, New Castle, DE 19720AccommodationTerm LoanPrime plus 2.75%9/26/203951.3  51.3  60.4  0.02 %
Andrene's LLC dba Andrene's Caribbean Soul Food Carry Out(#,^)114-115 Medical Center Ave, Sebring, FL 33870Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/23/202415.2  15.2  15.6  — %
100
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Ryan Crick and Pamela J. Crick and Crick Enterprises Inc(#,^)1700 W 4th St., Dequincy, LA 70633Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/2039129.9  129.9  152.5  0.05 %
Modern Leather Goods Repair Shop Inc(#,^)550 South Rosemary Ave Ste 236, West Palm Beach, FL 33401Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/202429.8  29.8  30.6  0.01 %
Tavern Properties LLC and Wildwood Tavern LLC(#,^)48649 Highway 58, Oakridge, OR 97463Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/15/2039381.9  381.9  448.0  0.14 %
Animal Intrusion Prevention Systems Holding Company, LLC(#,^)5409 Johnston St., Lafayette, LA 70503Administrative and Support ServicesTerm LoanPrime plus 2.75%9/15/2024157.4  157.4  161.9  0.05 %
Indy East Smiles Youth Dentistry LLC dba Prime Smile East(#,^)2400 Western Ave, Las Vegas, NV 89102Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/11/2024325.3  325.3  333.7  0.10 %
B&P Diners LLC dba Engine House Restaurant(#,^)2410 West Jefferson St., Ste B, Joliet, IL 60435Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/10/202441.3  41.3  42.3  0.01 %
Lamjam LLC (EPC) Goldsmith Lambros Inc (OC)(#)701 Addison Rd, Painted Post, NY 14870Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%8/27/202462.4  62.4  64.4  0.02 %
Atlas Auto Body Inc dba Atlas Auto Sales(#,^)1300 S Jackson St., Salem, IN 47167Repair and MaintenanceTerm LoanPrime plus 2.75%8/22/203945.9  45.9  53.8  0.02 %
Katie Senior Care LLC dba Home Instead Senior Care(#,^)988 Hemlock St., Cannon Beach, OR 97110Social AssistanceTerm LoanPrime plus 2.75%8/15/202454.0  54.0  55.4  0.02 %
Alpha Preparatory Academy LLC(#,^)2176 Route 119 North, Greensburg, PA 15601Social AssistanceTerm LoanPrime plus 2.75%8/15/2039129.9  129.9  152.5  0.05 %
Hamer Road Auto Salvage, LLC and Scott T. Cook and Nikki J. Cook(#,^)318 North F St., Lakeview, OR 97630Motor Vehicle and Parts DealersTerm Loan6%8/8/2039123.4  123.4  116.1  0.04 %
Almost Home Property LLC and Almost Home Daycare LLC(#,^)301 Commerce Drive, Elizabethtown, KY 42701Social AssistanceTerm LoanPrime plus 2.75%8/7/2039664.4  664.4  779.7  0.24 %
iFood, Inc. dba Steak N Shake(#,^)6544 Springfield Mall, Springfield, VA 22150Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/2024196.4  196.4  202.3  0.06 %
575 Columbus Avenue Holding Company, LLC and LA-ZE LLC dba EST EST EST(#,^)38 Old National Pike, West Alexander, PA 15376Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/30/203918.1  18.1  21.3  0.01 %
Honeyspot Investors LLP and Pace Motor Lines Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Truck TransportationTerm LoanPrime plus 2.75%7/24/2039133.1  133.1  156.2  0.05 %
Miss Cranston Diner II, LLC and Miss Cranston II Realty LLC(#,^)3614 SW HK Dodgen Loop, Ste F, Temple, TX 76504Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/203986.9  86.9  101.9  0.03 %
AMG Holding, LLC and Stetson Automotive, Inc(#,^)1103 Russell Pkwy, Warner Robins, GA 31088Repair and MaintenanceTerm LoanPrime plus 2.75%6/30/2039182.6  182.6  214.4  0.07 %
iFood, Inc. dba Steak N Shake(#,^)900 Alpine Rd, Bridgeville, PA 15017Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/2039557.8  557.8  652.7  0.20 %
Honeyspot Investors LLP and Pace Motor Lines Inc(#,^)680 Fletcher Pkwy, Ste 206, El Cajon, CA 92020Truck TransportationTerm LoanPrime plus 2.75%6/30/2039776.0  776.0  910.9  0.28 %
101
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Lisle Lincoln II Limited Partnership dba Lisle Lanes LP(#,^)79 Beach Rd Units B13 and B14, Vineyard Haven, MA 02568Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/30/202448.4  48.4  49.9  0.02 %
JPM Investments LLC and Carolina Family Foot Care P.A.(#)162 Danielson Pike, Foster, RI 02825Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/26/2039128.4  128.4  150.3  0.05 %
Zinger Hardware and General Merchant Inc(#)308 Kennedy St. NW, Washington, DC 20011Building Material and Garden Equipment and Supplies DealersTerm Loan7.25%6/26/202438.9  38.9  37.8  0.01 %
Nikobella Properties LLC and JPO Inc dba Village Car Wash(#)3390 W. Andrew Johnson Hwy, Greeneville, TN 37743Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/2039444.1  444.1  519.9  0.16 %
Big Sky Plaza LLC and Strickland, Incorporated dba Livingston True Val(#,^)2 West 32nd St., Ste 401, New York, NY 10001Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/20/2039207.0  207.0  242.3  0.07 %
Sico & Walsh Insurance Agency Inc and The AMS Trust(#)3330 N Beach St., Fort Worth, TX 76111Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%6/6/203982.2  82.2  96.3  0.03 %
Sujata Inc dba Stop N Save Food Mart and Dhruvesh Patel(#,^)6480 West Touhy Ave, Niles, IL 60714Food and Beverage StoresTerm LoanPrime plus 2.75%6/3/20248.1  8.1  8.3  — %
Long Island Barber Institute Inc(#,^)5430 E. Washington St., Indianapolis, IN 46219Educational ServicesTerm LoanPrime plus 2.75%6/2/203949.2  49.2  57.6  0.02 %
Pocono Coated Products, LLC(#,^)71 Lafayette St.,, Salem, MA 01970Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%5/30/202410.8  10.8  11.1  — %
Jonesboro Health Food Center LLC(#,^)7137 Little River Turnpike, Annandale, VA 22003Health and Personal Care StoresTerm LoanPrime plus 2.75%5/27/202430.4  30.4  31.1  0.01 %
Hae M. and Jin S. Park dba Buford Car Wash(#,^)20 Providence St., West Warwick, RI 02893Repair and MaintenanceTerm LoanPrime plus 2.75%5/15/2039147.3  147.3  172.3  0.05 %
The River Beas LLC and Punam Singh(#,^)222E Eufaula St Ste 220, Norman, OK 73069Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/8/203979.8  79.8  93.4  0.03 %
AS Boyals LLC dba Towne Liquors(#,^)4462 Mink Livsey Rd, Snellville, GA 30039Food and Beverage StoresTerm LoanPrime plus 2.75%4/29/203996.1  96.1  112.6  0.03 %
Gerami Realty, LC (EPC) Sherrill Universal City Corral, LP dba Golden(#,^)10463 Hamer Rd, Georgetown, OH 45121Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/23/202750.2  50.2  53.2  0.02 %
Complete Body & Paint, Inc.(#,^)35 Copps Hill Rd, Ridgefield, CT 06877Repair and MaintenanceTerm LoanPrime plus 2.75%4/23/203918.3  18.3  21.4  0.01 %
Island Wide Realty LLC and Long Island Partners, Inc. dba Realty Execu(#,^)5900 Duraleigh Rd, Raleigh, NC 27612Real EstateTerm LoanPrime plus 2.75%4/22/203991.4  91.4  107.1  0.03 %
Wilshire Media Systems Inc(#,^)575 Columbus Ave, New Haven, CT 06519Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/202485.9  85.9  88.1  0.03 %
1899 Tavern & Tap LLC and Ale House Tavern & Tap LLC(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/9/203998.9  98.9  115.9  0.04 %
102
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Little People's Village II LLC (OC) and Iliopoulos Realty LLC (EPC)(#,^)15 Stonebridge, Cranston, RI 02921Social AssistanceTerm LoanPrime plus 2.75%3/31/203981.4  81.4  95.1  0.03 %
Little People's Village II LLC (OC) and Iliopoulos Realty LLC (EPC)(#,^)2840 E Millbrook Rd, Raleigh, NC 27604Social AssistanceTerm LoanPrime plus 2.75%3/31/203989.8  89.8  104.9  0.03 %
Kemmer, LLC (EPC) and Pitts Package Store, Inc.(OC)(#,^)4920 Lincoln Ave Route 53, Lisle, IL 60532Food and Beverage StoresTerm LoanPrime plus 2.75%3/31/2039103.2  103.2  120.5  0.04 %
Eagle Aggregate Transportation, LLC and Eagle Pneumatic Transport LLC(#,^)309 Route 9, Waretown, NJ 08758Truck TransportationTerm LoanPrime plus 2.75%3/31/2024350.4  350.4  360.5  0.11 %
Hodges Properties LLC and Echelon Enterprises Inc dba Treads Bicycle(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%3/31/2039395.4  395.4  463.1  0.14 %
Dantanna's Tavern LLC(#,^)122 N. Main St., Fuquay Varina, NC 27526Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/202479.0  79.0  81.3  0.02 %
636 South Center Holdings, LLC and New Mansfield Brass and Aluminum Co(#)4001 North Lamar Blvd Ste 300, Austin, TX 78756Primary Metal ManufacturingTerm LoanPrime plus 2.75%3/20/203969.0  69.0  80.7  0.02 %
Cormac Enterprises and Wyoming Valley Beverage Incorporated(#,^)1372 South US Route 12, Fox Lake, IL 60020Food and Beverage StoresTerm LoanPrime plus 2.75%3/20/203997.4  97.4  113.9  0.03 %
Kinisi, Inc. dba The River North UPS Store(#,^)1313 West Park St. #1, Livingston, MT 59047Administrative and Support ServicesTerm LoanPrime plus 2.75%3/18/20243.5  3.5  3.6  — %
Faith Memorial Chapel LLC(#,^)106 Concord Ave, Belmont, MA 02478Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2039187.9  187.9  219.4  0.07 %
952 Boston Post Road Realty, LLC and HNA LLC dba Styles International(#,^)15637 St Clair Ave, Cleveland, OH 44110Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2039181.8  181.8  212.3  0.06 %
R & R Boyal LLC dba Cap N Cat Clam Bar and Little Ease Tavern(#,^)266 Greenwich St., Hempstead, NY 11550Food and Beverage StoresTerm LoanPrime plus 2.75%2/28/2039367.0  367.0  428.6  0.13 %
Summit Beverage Group LLC(#,^)100 Sweetree St., Cherryville, NC 28021Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%2/28/2024159.2  159.2  163.4  0.05 %
96 Mill Street LLC, Central Pizza LLC and Jason Bikakis George Bikaki(#,^)1321 Stone St., Jonesboro, AR 72401Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/12/2039123.8  123.8  144.8  0.04 %
JWB Industries, Inc. dba Carteret Die Casting(#,^)1163 Buford Highway, Sugar Hill, GA 30518Primary Metal ManufacturingTerm LoanPrime plus 2.75%2/11/2024127.1  127.1  130.0  0.04 %
986 Dixwell Avenue Holding Company, LLC(EPC) and Mughali Foods, LLC db(#,^)11704 Centurion Way, Potomac, MD 20854Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/7/203987.5  87.5  102.2  0.03 %
Sarah Sibadan dba Sibadan Agency(#,^)117 South Broad St., Woodbury City, NJ 08096Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%1/27/2039113.4  113.4  132.6  0.04 %
Icore Enterprises Inc dba Air Flow Filters Inc(#,^)2301 Pat Booker Rd, Universal City, TX 78148Miscellaneous ManufacturingTerm LoanPrime plus 2.75%1/15/20249.7  9.7  9.9  — %
103
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Nutmeg North Associates LLC (OC) Steeltech Building Products Inc(#,^)32220 Michigan Ave, Wayne, MI 48184Construction of BuildingsTerm LoanPrime plus 2.75%12/31/2038799.6  799.6  936.5  0.29 %
KK International Trading Corporation(#,^)201-203-205 West Merrick Rd, Valley Stream, NY 11580Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/23/2028130.9  130.9  140.7  0.04 %
Kurtis Sniezek dba Wolfe's Foreign Auto(#,^)2649 Townsgate Rd. Ste 500, Westlake Village, CA 91361Repair and MaintenanceTerm LoanPrime plus 2.75%12/20/203877.7  77.7  90.9  0.03 %
TAK Properties LLC and Kinderland Inc(#,^)1899 State Route 35, South Amboy, NJ 08879Social AssistanceTerm LoanPrime plus 2.75%12/18/2038353.6  353.6  413.4  0.13 %
TOL LLC dba Wild Birds Unlimited(#,^)6615 Roswell Rd NE #30, Sandy Springs, GA 30328Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%12/13/20238.1  8.1  8.3  — %
920 CHR Realty LLC (EPC) V. Garofalo Carting Inc (OC)(#,^)6522 Haverford Ave, Philadelphia, PA 19151Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%12/10/2038365.4  365.4  427.4  0.13 %
DKB Transport Corp(#,^)4401 N I-35 #113, Denton, TX 76207Truck TransportationTerm LoanPrime plus 2.75%12/5/2038121.3  121.3  141.9  0.04 %
Firm Foundations Inc David S Gaitan Jr and Christopher K Daigle(#,^)6522 Haverford Ave, Philadelphia, PA 19151Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/3/203891.1  91.1  106.5  0.03 %
Spectrum Development LLC and Solvit Inc & Solvit North, Inc(#,^)201 S. Main St., Salem, IN 47167Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/2/2023164.3  164.3  168.3  0.05 %
BVIP Limousine Service LTD(#,^)16701 E. Iliff Ave, Aurora, CO 80013Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%11/27/203866.7  66.7  78.0  0.02 %
AcuCall LLC(#,^)636 South Center St., New Washington, OH 44854Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/21/20236.7  6.7  6.9  — %
Kids in Motion of Springfield LLC dba The Little Gym of Springfield IL(#,^)63 S Wyoming Ave, Edwardsville, PA 18704Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/18/202319.2  19.2  19.7  0.01 %
Polpo Realty, LLC(EPC) Polpo Restaurant, LLC (OC)(#,^)301 West Grand Ave, Chicago, IL 60654Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/6/203855.5  55.5  65.0  0.02 %
Mid-Land Sheet Metal Inc(#,^)249 23rd Ave, Moundridge, KS 67107Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/31/2038119.5  119.5  139.7  0.04 %
Master CNC Inc & Master Properties LLC(#,^)249 23rd Ave, Moundridge, KS 67107Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/2038519.2  519.2  606.8  0.19 %
1 North Restaurant Corp dba 1 North Steakhouse(#,^)3111 and 3135 Delsea Drive, Franklinville, NJ 08322Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2038183.3  183.3  214.3  0.07 %
Janice B. McShan and The Metropolitan Day School, LLC(#,^)600 9th Ave North, Bessemer, AL 35020Social AssistanceTerm LoanPrime plus 2.75%10/31/202318.1  18.1  18.5  0.01 %
Greenbrier Technical Services, Inc(#,^)952 Boston Post Rd, Milford, CT 06460Repair and MaintenanceTerm LoanPrime plus 2.75%10/24/202359.5  59.5  61.0  0.02 %
Clairvoyant Realty Corp. and Napoli Marble & Granite Design, Ltd(#,^)211 Washington Ave, Marion, VA 24354Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/24/2038128.9  128.9  150.8  0.05 %
104
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Discount Wheel and Tire of Broken Bow Inc(#,^)96 Mill St., Berlin, CT 06037Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%9/30/2038194.1  194.1  226.9  0.07 %
Lenoir Business Partners LLC (EPC) LP Industries, Inc dba Childforms(#,^)74 Veronica Ave, Somerset, NJ 08875Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%9/30/2038255.4  255.4  298.7  0.09 %
LP Industries, Inc dba Childforms(#,^)986 Dixwell Ave, Hamden, CT 06510Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%9/30/2038104.1  104.1  121.8  0.04 %
Cencon Properties LLC and Central Connecticut Warehousing Company, In(#,^)102-05 101st Ave, Ozone Park, NY 11416Warehousing and StorageTerm LoanPrime plus 2.75%9/30/2038299.3  299.3  350.1  0.11 %
Mitchellville Family Dentistry, Dr. Octavia Simkins-Wiseman DDS PC(#,^)151 W 24th St, Hialeah, FL 33010Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/27/2038290.6  290.6  339.9  0.10 %
Anthony C Dinoto and Susan S P Dinoto and Anthony C Dinoto Funeral Ho(#,^)636 Nutmeg Rd North, South Windsor, CT 06074Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/26/203886.7  86.7  101.4  0.03 %
Eastside Soccer Dome, Inc .(#,^)219 Lafayette Drive, Syosset, NY 11791Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/26/2038402.3  402.3  470.5  0.14 %
Southeast Chicago Soccer, Inc.(#,^)712 5th St., New Brighton, PA 15066Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/26/203844.7  44.7  52.3  0.02 %
Kiddie Steps 4 You Inc.(#,^)1157 Commerce Ave, Longview, WA 98632Social AssistanceTerm LoanPrime plus 2.75%9/25/203878.6  78.6  91.7  0.03 %
Diamond Memorials Incorporated(#,^)320 W. Main St., Avon, CT 06001Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/25/20231.8  1.8  1.9  — %
Faith Memorial Chapel LLC(#,^)920 Crooked Hill, Brentwood, NY 11717Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/20/2038232.4  232.4  271.1  0.08 %
Serious-Fun in Alpharetta, LLC dba The Little Gym of Alpharetta(#,^)555 Water Works Rd, Old Bridge, NJ 08857Educational ServicesTerm LoanPrime plus 2.75%9/20/202319.0  19.0  19.4  0.01 %
Maynard Enterprises Inc dba Fastsigns of Texarkana(#,^)1455 S Richland Creek Rd, Sugar HIll, GA 30518Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/18/20236.6  6.6  6.8  — %
Grafio Inc dba Omega Learning Center-Acworth(#,^)65 Farmington Valley Drive, Plainville, CT 06062Educational ServicesTerm LoanPrime plus 2.75%9/13/202367.7  67.7  69.2  0.02 %
The Berlerro Group, LLC dba Sky Zone(#,^)887 W Liberty, Medina, OH 44256Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/12/2023175.1  175.1  178.9  0.05 %
Sound Manufacturing Inc(#,^)824 U.S Highway 1, Ste 335, North Palm Beach, FL 33408Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/12/202836.7  36.7  39.3  0.01 %
Prospect Kids Academy Inc(#,^)3039-3043 Hedley, Springfield, IL 62704Educational ServicesTerm LoanPrime plus 2.75%9/11/2038107.8  107.8  125.8  0.04 %
B for Brunette dba Blo(#,^)671 E. Cooley Drive, Unit 114, Colton, CA 92324Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/10/202322.0  22.0  22.5  0.01 %
Schmaltz Holdings, LLC (EPC) and Schmaltz Operations, LLC dba Companio(#,^)2446 Route 9, Howell, NJ 07731Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/4/2038193.3  193.3  225.5  0.07 %
IlOKA Inc dba Microtech Tel and NewCloud Networks(#,^)554 Old Post Rd #3, Greenwich, CT 06830Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/30/2023259.4  259.4  265.0  0.08 %
105
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
ACI Northwest Inc.(#,^)2817 Lomb Ave, Birmingham, AL 35208Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%8/30/2023215.5  215.5  220.4  0.07 %
Gulfport Academy Child Care and Learning Center, Inc. and Jennifer Sis(#,^)11825 29 Mile Rd, Washington, MI 48095Social AssistanceTerm LoanPrime plus 2.75%8/30/202317.3  17.3  17.6  0.01 %
Ramard Inc and Advanced Health Sciences Inc(#,^)322 W. Montauk Hwy, Hampton Bays, NY 11946Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%8/28/202374.8  74.8  76.4  0.02 %
RM Hawkins LLC dba Pure Water Tech West and Robert M Hawkins(#,^)125 E Fesler St., Santa Maria, CA 93454Nonstore RetailersTerm LoanPrime plus 2.75%8/26/202331.8  31.8  32.6  0.01 %
JSIL LLC dba Blackstones Hairdressing(#,^)407 E. Edgar Ave, Ronceverte, WV 24970Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/16/20237.7  7.7  7.8  — %
Caribbean Concepts, Inc. dba Quick Bleach(#,^)77 Mill Rd, Freeport, NY 11520Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/12/20238.9  8.9  9.1  — %
Daniel W and Erin H Gordon and Silver Lining Stables CT, LLC(#,^)37 Commons Court, Waterbury, CT 06704Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/24/20234.6  4.6  4.7  — %
Angkor Restaurant Inc(#,^)1202 S Park Drive, Broken Bow, OK 74728Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/19/203880.1  80.1  93.6  0.03 %
Tri County Heating and Cooling Inc.(#,^)2040 Norwood, Lenoir, NC 28645Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/19/202334.1  34.1  34.9  0.01 %
Harbor Ventilation Inc and Estes Investment, LLC(#,^)110 Charleston Drive, Ste 105-107, Morresville, NC 28117Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/19/20382.0  2.0  2.4  — %
Morning Star Trucking LLC and Morning Star Equipment and Leasing LLC(#,^)12150 Annapolis Rd, Ste 301, Glenn Dale, MD 20769Truck TransportationTerm LoanPrime plus 2.75%7/17/202320.9  20.9  21.4  0.01 %
Maxiflex LLC(#,^)17 Pearl St., Mystic, CT 06355Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/28/202317.0  17.0  17.3  0.01 %
GIA Realty LLC and VRAJ GIA LLC dba Lakeview Laundromat(#,^)11919 S Ave O, Chicago, IL 60617Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/28/203883.7  83.7  97.7  0.03 %
2161 Highway 6 Trail, LLC, (EPC) R. H. Hummer JR., Inc. (Co-Borrower)(#,^)10232 S Ave N, Chicago, IL 60617Truck TransportationTerm LoanPrime plus 2.75%6/19/2026382.2  382.2  401.4  0.12 %
Blakeslee Arpaia Chapman, Inc. dba Blakeslee Industrial Services(#,^)800 Broad St., Clifton, NJ 07013Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%6/18/2028575.4  575.4  615.9  0.19 %
KDP LLC and KDP Investment Advisors, Inc and KDP Asset Management, Inc(#,^)1700 West 63rd St., Chicago, IL 60636Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%6/14/2023130.8  130.8  133.3  0.04 %
Elite Structures Inc(#,^)600 9th Ave North, Bessemer, AL 35020Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/12/2038754.2  754.2  878.3  0.27 %
(EPC) Absolute Desire LLC and Mark H. Szierer (OC) Sophisticated Smile(#,^)11585 Jones Bridge Rd, Ste 4G, Johns Creek, GA 30022Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/5/2038161.8  161.8  188.3  0.06 %
106
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Gregory P Jellenek OD and Associates PC dba Gregory P Jellenek OD and(#,^)3735 Mall Drive, Texarkana, TX 75501Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/28/202323.0  23.0  23.5  0.01 %
Ryan D. Thornton and Thornton & Associates LLC(#,^)5330 Brookstone Drive, Ste 320, Acworth, GA 30101Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%5/24/202318.6  18.6  18.9  0.01 %
Peanut Butter & Co., Inc.(#,^)111 Rodeo Drive, Edgewood, NY 11717Food ManufacturingTerm LoanPrime plus 2.75%4/30/202335.9  35.9  36.6  0.01 %
1258 Hartford TPKE, LLC (EPC) and Phelps and Sons, Inc (OC)(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Miscellaneous Store RetailersTerm LoanPrime plus 2.75%3/29/2038106.5  106.5  124.0  0.04 %
A & M Commerce, Inc. dba Cranberry Sunoco(#,^)532 St Johns Place, Brooklyn, NY 11238Gasoline StationsTerm LoanPrime plus 2.75%3/27/2038282.0  282.0  328.6  0.10 %
Xela Pack, Inc. and Aliseo and Catherine Gentile(#,^)50 Glen Cove Rd, Greenvale, NY 11548Paper ManufacturingTerm LoanPrime plus 2.75%3/27/2028180.7  180.7  192.9  0.06 %
American Diagnostic Imaging, Inc. dba St. Joseph Imaging Center(#,^)3408 Castle Rock Farm Rd, Pittsboro, NC 27312Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/25/2038459.3  459.3  533.9  0.16 %
Michael A.and HeatherR. Welsch dba Art & FrameEtc.(#,^)160 Inverness Dr W Ste 100, Englewood, CO 80112Miscellaneous Store RetailersTerm LoanPrime plus 2.75%3/22/203857.7  57.7  67.1  0.02 %
Truth Technologies Inc dba Truth Technologies Inc.(#,^)15150 Evans St., Gulfport, MS 39503Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/21/202330.4  30.4  30.9  0.01 %
Sound Manufacturing, Inc. and Monster Power Equipment Inc.(#,^)6600 N Government Way, Coeur D Alene, ID 83815Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/15/2023170.7  170.7  173.7  0.05 %
Bakhtar Group LLC dba Malmaison(#,^)4561 Ironworks Pike, Ste 161, Lexington, KY 40511Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/202332.8  32.8  33.3  0.01 %
Osceola River Mill, LLC(EPC) Ironman Machine, Inc.(OC)(#,^)1815 De Paul St., Colorado Springs, CO 80909Machinery ManufacturingTerm LoanPrime plus 2.75%2/20/203873.5  73.5  85.5  0.03 %
Java Warung, LLC(#,^)19 East 7th St., New York, NY 10003Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/19/203843.5  43.5  50.6  0.02 %
Retain Loyalty LLC(#,^)120 East 56th St., St.#730, New York, NY 10022Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%2/15/203893.7  93.7  108.9  0.03 %
North Country Transport, LLC(#,^)38 Carmen Lane, Monroe, CT 06468Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/6/20235.1  5.1  5.2  — %
Sherill Universal City dba Golden Corral LP(#,^)10 Traverse St., Providence, RI 02903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/28/2038376.0  376.0  437.2  0.13 %
Macho LLC (EPC) Madelaine Chocolate Novelties Inc(OC) dba The Madelai(#,^)509 East Park St., Livingston, MT 59047Food ManufacturingTerm LoanPrime plus 2.75%12/31/2037426.2  426.2  495.9  0.15 %
Babie Bunnie Enterprises Inc dba Triangle Mothercare(#,^)509 East Park St., Livingston, MT 59047Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/28/202726.2  26.2  27.9  0.01 %
Polpo Realty LLC (EPC) & Polpo Restaurant LLC (OC) dba Polpo Restauran(#,^)1 Poppy Ave, Neptune, NJ 07753Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/27/2037449.0  449.0  522.5  0.16 %
107
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Martin L Hopp, MD PHD A Medical Corp (OC) dba Tower ENT(#,^)411 Sharp St., Millville, NJ 08332Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/202221.3  21.3  21.7  0.01 %
Daniel Gordon and Erin Gordon and Silver Lining Stables CT, LLC(#,^)512 Verret St., New Orleans, LA 70114Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%11/28/2037193.3  193.3  224.5  0.07 %
Richmond Hill Mini Market, LLC(#,^)2141 P Ave, Williamsburg, IA 52361Food and Beverage StoresTerm LoanPrime plus 2.75%11/27/2037156.2  156.2  181.4  0.06 %
D&L Rescources, Inc. dba The UPS Store(#,^)200 North Branford Rd, Branford, CT 06405Miscellaneous Store RetailersTerm LoanPrime plus 2.75%11/27/20223.1  3.1  3.1  — %
DRV Enterprise, Inc. dba Cici's Pizza # 339(#,^)24 Elm St., Montpelier, VT 05602Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/26/202219.0  19.0  19.3  0.01 %
U & A Food and Fuel, Inc. dba Express Gas & Food Mart(#,^)401 Old Quitman Rd, Adel, GA 31620Gasoline StationsTerm LoanPrime plus 2.75%11/21/203781.4  81.4  94.5  0.03 %
Pioneer Windows Manufacturing Corp, Pioneer Windows(#,^)85 Reaville Ave, Flemington, NJ 08822Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%11/21/202283.6  83.6  85.0  0.03 %
R & J Petroleum LLC (EPC) Manar USA, Inc. (OC)(#,^)4640 Monticello Ave, Ste 8A, Williamsburg, VA 23188Gasoline StationsTerm LoanPrime plus 2.75%11/20/2037152.2  152.2  176.8  0.05 %
St Judes Physical Therapy P.C.(#,^)800 Bethel St., Ste 200, Honolulu, HI 96813Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/19/20226.5  6.5  6.6  — %
Hi-Def Imaging, Inc. dba SpeedPro Imaging(#,^)250 West 54th St., New York, NY 10019Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/9/20227.0  7.0  7.1  — %
Reidville Hydraulics Mfg Inc dba Summit(#,^)1258 Hartford Turnpike, Vernon, CT 06066Machinery ManufacturingTerm LoanPrime plus 2.75%11/2/2037222.0  222.0  257.7  0.08 %
Big Apple Entertainment Partners, LLC d/b/a Ripley's Believe It or Not(#,^)398 Baltimore Blvd, Westminster, MD 21157Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/26/202256.0  56.0  56.9  0.02 %
University Park Retreat, LLC dba Massage Heights(#,^)8300 Boettner Rd, Saline, MI 48176Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/27/202222.3  22.3  22.6  0.01 %
O'Rourkes Diner LLC dba O'Rourke's Diner(#,^)3937 Sherman Ave, Saint Joseph, MO 64506Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/19/203755.1  55.1  63.8  0.02 %
AJK Enterprise LLC dba AJK Enterprise LLC(#)2819 West T C Jester Blvd, Houston, TX 77018Truck TransportationTerm LoanPrime plus 2.75%8/27/20224.5  4.5  4.5  — %
Suncoast Aluminum Furniture, Inc(#,^)2341 Cheshire Lane, Naples, FL 34109Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%8/17/2037302.1  302.1  350.2  0.11 %
Hofgard & Co., Inc. dba HofgardBenefits(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/27/202229.4  29.4  29.8  0.01 %
Georgia Safe Sidewalks LLC(#,^)432 Margaret St., Plattsburgh, NY 12901Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/27/20224.0  4.0  4.1  — %
Central Tire, Inc. dba Cooper Tire & Auto Services(#,^)3401 K St. NW, Washington, DC 20007Repair and MaintenanceTerm LoanPrime plus 2.75%6/29/2037240.4  240.4  278.6  0.09 %
KIND-ER-ZZ Inc dba Kidville(#,^)27 Hungerford St., Pittsfield, MA 01201Educational ServicesTerm LoanPrime plus 2.75%6/15/202213.1  13.1  13.2  — %
108
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Graphish Studio, Inc. and Scott Fishoff(#,^)1915 N Richmond St., Appleton, WI 54911Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/20225.2  5.2  5.3  — %
ALF, LLC (EPC) Mulit-Service Eagle Tires (OC)(#,^)1250 Sanders Ave SW, Massillon, OH 44647Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%5/31/203752.1  52.1  60.3  0.02 %
Tracey Vita-Morris dba Tracey Vita's School of Dance(#,^)10 LaCrosse St., Ste 14, Hudson Falls, NY 12839Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%5/10/20225.7  5.7  5.8  — %
Tanner Optical, Inc. dba Murphy Eye Care(#,^)2301 Pat Booker Rd, Universal City, TX 78148Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/27/20221.9  1.9  2.0  — %
Access Staffing, LLC(#,^)96-03 Beach Channel Drive, Rockaway Beach, NY 11693Administrative and Support ServicesTerm LoanPrime plus 2.75%3/30/202253.1  53.1  53.6  0.02 %
Manuel P. Barrera and Accura Electrical Contractor, Inc.(#,^)8516 Swarthmore Drive, Raleigh, NC 27615Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/23/202863.4  63.4  67.7  0.02 %
Shweiki Media, Inc. dba Study Breaks Magazine(#,^)554 Old Post Rd #3, Greenwich, CT 06830Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/22/2027671.6  671.6  710.7  0.22 %
ATI Jet, Inc.(#)8631 West Third St, 440 E &, Los Angeles, CA 90048Air TransportationTerm LoanPrime plus 2.75%12/28/2026532.8  532.8  562.6  0.17 %
J. Kinderman & Sons, Inc. dba Brite Star Manufacturing Company(#,^)38 Carmen Lane, Monroe, CT 06468Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/22/2036139.7  139.7  161.1  0.05 %
K's Salon, LLC d/b/a K's Salon(#,^)101 Richmond Hill Ave, Stamford, CT 06902Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/20/202115.0  15.0  15.1  — %
15 Frederick Place LLC & Pioneer Windows Holdings Inc & Subs dba Pion(#,^)8930 State Rd # 84, Davie, FL 33324Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/16/202147.6  47.6  48.1  0.01 %
Taylor Transport, Inc(#,^)5771 East Fowler Ave, Temple Terrace, FL 33617Truck TransportationTerm LoanPrime plus 2.75%12/8/202122.5  22.5  22.7  0.01 %
K9 Bytes, Inc & Epazz, Inc dba K9 Bytes, Inc(#)1345 Wampanoag Trail, East Providence, RI 02915Publishing Industries (except Internet)Term LoanPrime plus 2.75%10/26/202115.2  15.2  15.4  — %
28 Cornelia Street Properties, LLC and Zouk, Ltd.dba Palma(#,^)15 Frederick Place, Hicksville, NY 11801Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/25/20213.9  3.9  3.9  — %
39581 Garfield, LLC and Tricounty Neurological Associates, P.C.(#,^)305 Quincy Shore Drive, Quincy, MA 02107Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/203622.6  22.6  26.0  0.01 %
Robert E. Caves, Sr. and American Plank dba Caves Enterprises(#,^)7712 Fourth Ave, Brooklyn, NY 11209Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/30/202149.9  49.9  50.3  0.02 %
39581 Garfield, LLC and Tri County Neurological Associates, P.C.(#,^)3580 Progress Drive, Unit Q, Bensalem, PA 19020Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/203666.4  66.4  76.5  0.02 %
Michael S. Decker & Janet Decker dba The Hen House Cafe(#)175 Industrial Lane, Torrington, CT 06790Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/30/203613.2  13.2  15.2  — %
Trademark Equipment Company Inc and David A. Daniel(#,^)234 West 42nd St., New York, NY 10036Miscellaneous Store RetailersTerm LoanPrime plus 2.75%8/19/2036108.1  108.1  124.4  0.04 %
109
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Valiev Ballet Academy, Inc(#,^)5275 University Pkwy # 110, Bradenton, FL 34201Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%8/12/203634.3  34.3  39.5  0.01 %
LaHoBa, LLC d/b/a Papa John's(#,^)728 Main St., Middletown, CT 06457Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/3/203662.3  62.3  71.7  0.02 %
Lavertue Properties LLP dba Lavertue Properties(#,^)1901 Naylor Rd, SE, Washington, DC 20020Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%6/29/203636.0  36.0  41.4  0.01 %
Lisle Lincoln II Limited Partnership dba Lisle Lanes LP(#,^)6291 Thomas Rd, Fort Myers, FL 33912Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/29/2036281.9  281.9  324.3  0.10 %
Peanut Butter & Co., Inc. d/b/a Peanut Butter & Co.(#,^)400 S McCaslin Blvd Ste 201, Louisville, CO 80027Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%6/3/20216.1  6.1  6.2  — %
Profile Performance, Inc. and Eidak Real Estate, L.L.C.(#,^)1740 Wheatstone Drive, Grayson, GA 30017Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/2036101.5  101.5  116.6  0.04 %
Northwind Outdoor Recreation, Inc. dba Red Rock Wilderness Store(#,^)1111 S Tillotson Ave, Muncie, IN 47304Nonstore RetailersTerm LoanPrime plus 2.75%4/18/2036113.8  113.8  130.7  0.04 %
Michael S. Korfe dba North Valley Auto Repair(#,^)30 Maple St., Summit, NJ 07901Repair and MaintenanceTerm LoanPrime plus 2.75%3/24/203612.3  12.3  14.1  — %
Actknowledge,Inc dba Actknowledge(#,^)231 Main St., Stanford, CT 06901Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/21/20216.2  6.2  6.2  — %
SuzyQue’s LLC dba Suzy Que’s(#,^)1985 B St., Colorado Springs, CO 80906Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/11/203648.4  48.4  55.5  0.02 %
Little People’s Village, LLC dba Little People’s Village(#,^)4181 9th Ave West, Bradenton, FL 34025Social AssistanceTerm LoanPrime plus 2.75%1/31/203624.5  24.5  28.1  0.01 %
Seagate Group Holdings, Inc. dba Seagate Logistics, Inc.(#,^)305 Shirley Ave, Douglas, GA 31533Support Activities for TransportationTerm LoanPrime plus 2.75%1/28/203689.7  89.7  102.8  0.03 %
Shree OM Lodging, LLC dba Royal Inn(#,^)360 Lexington Ave, 8th Floor, New York, NY 10017AccommodationTerm LoanPrime plus 2.75%12/17/203521.8  21.8  24.9  0.01 %
Lodin Medical Imaging, LLC dba Watson Imaging Center(#,^)6187 NW 167th St. Unit H3, Miami, FL 33015Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/1/20204.9  4.9  4.9  — %
Robert F. Schuler and Lori A. Schuler dba Bob’s Service Center(#,^)340 Tom Reeve Drive, Carrolton, GA 30117Repair and MaintenanceTerm LoanPrime plus 2.75%11/30/203526.6  26.6  30.5  0.01 %
K9 Bytes, Inc & Epazz, Inc(#)340 Tom Reeve Drive, Carrolton, GA 30117Publishing Industries (except Internet)Term LoanPrime plus 2.75%9/30/20201.4  1.4  1.4  — %
Elan Realty, LLC and Albert Basse Asociates, Inc.(#,^)4954 Space Center Drive, San Antonio, TX 78218Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%9/30/2035177.9  177.9  203.4  0.06 %
Success Express,Inc. dba Success Express(#,^)7007 Boeing Drive, El Paso, TX 79925Couriers and MessengersTerm LoanPrime plus 2.75%9/29/20202.8  2.8  2.8  — %
Rudy & Louise Chavez dba Clyde's Auto and Furniture Upholstery(#,^)2900 South 20th St., Philadelphia, PA 19145Repair and MaintenanceTerm LoanPrime plus 2.75%9/2/203539.0  39.0  44.5  0.01 %
110
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Newsome Trucking Inc and Kevin Newsome(#,^)162 West 84th St., New York, NY 10024Truck TransportationTerm LoanPrime plus 2.75%9/2/2035191.4  191.4  218.5  0.07 %
Members Only Software, Inc(#,^)15 Frederick Place, Hicksville, NY 11801Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/30/20200.9  0.9  0.9  — %
ActKnowledge,Inc dba ActKnowledge(#,^)1708 HWY 113 SW, CARTERSVILLE, GA 30120Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/30/20200.2  0.2  0.2  — %
I-90 RV & Auto Supercenter(#,^)325 N. Milwaukee Ave, Ste G1, Wheeling, IL 60090Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/29/203557.7  57.7  65.9  0.02 %
Zouk, Ltd. dba Palma(#,^)28-28 1/2 Cornelia St., New York, NY 10014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/25/20200.5  0.5  0.5  — %
Tanner Optical Inc. dba Murphy Eye Care(#,^)39581 Garfield Rd, Clinton Township, MI 48038Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/22/203572.5  72.5  82.6  0.03 %
Lahoba,LLC dba Papa John's Pizza(#,^)40515 Pumpkin Center Rd, Hammond, LA 70403Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/30/203432.3  32.3  36.8  0.01 %
Animal Intrusion Prevention Systems Holding Company, LLC(#,^)39581 Garfield Rd, Clinton Township, MI 48038Administrative and Support ServicesTerm LoanPrime plus 2.75%3/29/202419.2  19.2  19.8  0.01 %
KMC RE, LLC & B&B Kennels(#,^)401 Caribou St., Simla, CO 80835Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/19/203444.1  44.1  50.1  0.02 %
ROVER REPAIRS(#,^)5690 Pine Lane Circle, Bessemer, AL 35022Repair and MaintenanceTerm LoanPrime plus 2.5%11/28/202943.8  43.8  47.1  0.01 %
The Alba Financial Group, Inc.(#,^)635 - 637 Londonderry Lane, Denton, TX 76205Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm Loan6%3/10/20212.2  2.2  2.2  — %
D & D's Divine Beauty School of Esther, LLC(#,^)3001 Pontchartrain Drive, Slidell, LA 70458Educational ServicesTerm Loan6%8/1/203142.5  42.5  40.7  0.01 %
Bliss Coffee and Wine Bar, LLC(#)4920 Lincoln Ave Route 53, Lisle, IL 60532Food Services and Drinking PlacesTerm Loan6%11/30/202262.8  62.8  61.5  0.02 %
Zog Inc.(#,^)24 Wakefield St., Rochester, NH 13867Other Information ServicesTerm LoanPrime plus 2.75%10/31/20201.6  1.6  1.6  — %
Connect Litigation Technology, Inc.(#,^)1790 Broadway Ste 716, New York, NY 10019Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2%10/18/202518.5  18.5  19.0  0.01 %
1911 East Main Street Holdings, Corp(#,^)44600 Michigan Ave, Canton, MI 48188Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/203210.3  10.3  11.5  — %
Water Works Laundromat, LLC(#)2267 Fernberg Trail, Ely, MN 55731Personal and Laundry ServicesTerm LoanPrime plus 2.25%9/7/2027134.0  134.0  140.1  0.04 %
Dave Kris, and MDK Ram Corp.(#,^)7516 B 2nd St., NW, Albuquerque, NM 87107Food and Beverage StoresTerm LoanPrime plus 2.75%2/5/202621.9  21.9  23.0  0.01 %
Gill Express Inc. dba American Eagle Truck Wash(#,^)365 Fifth Ave, New York, NY 10016Repair and MaintenanceTerm LoanPrime plus 2.75%1/5/2027137.5  137.5  145.6  0.04 %
Head To Toe Personalized Pampering, Inc.(#,^)520 E. 8th St., Anderson, IN 46012Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/27/20317.5  7.5  8.2  — %
Christopher F. Bohon & Pamela D. Bohon(#,^)34 South Valley Rd, West Orange, NJ 07052Social AssistanceTerm LoanPrime plus 2.75%10/28/20262.3  2.3  2.5  — %
111
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Mogas Limited(#,^)904 North 66th St., Philadelphia, PA 19151Gasoline StationsTerm LoanPrime plus 2.75%5/31/203057.8  57.8  63.1  0.02 %
Shree Om Lodging, LLC dba Royal Inn(#,^)64-68 North Central Ave, Valley Stream, NY 11580AccommodationTerm LoanPrime plus 2.75%5/2/203053.1  53.1  57.9  0.02 %
Moonlight Multi Media Production, Inc.(#,^)2030 W. Northwest Highway, Dallas, TX 75220Other Information ServicesTerm Loan5.3%2/1/20251.3  1.3  1.3  — %
David M. Goens dba Superior Auto Paint & Body, Inc.(#)3915 Watson Rd, St. Louis, MO 63109Repair and MaintenanceTerm Loan6%8/26/202410.5  10.5  10.3  — %
McCallister Venture Group, LLC and Maw's Vittles, Inc.(#,^)2879 Limekiln Pike, Glenside, PA 19038Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/30/20299.4  9.4  10.2  — %
Chong Hun Im dba Kim's Market(#,^)325 N. Milwaukee Ave, Ste G1, Wheeling, IL 60090Food and Beverage StoresTerm LoanPrime plus 2.5%2/27/20245.0  5.0  5.2  — %
Whirlwind Car Wash, Inc.(#)175 Campanelli Park Way, Stroughton, MA 02072Repair and MaintenanceTerm LoanPrime plus 2%4/9/202912.4  12.4  12.9  — %
Shuttle Car Wash, Inc. dba Shuttle Car Wash(#,^)550 Eighth Ave, New York, NY 10018Repair and MaintenanceTerm LoanPrime plus 2.25%11/10/202813.3  13.3  14.0  — %
Min Hui Lin(#,^)1041 John D Hebert Rd, Breaux Bridge, LA 70517Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/202813.4  13.4  14.3  — %
Delta Partners, LLC dba Delta Carwash(#,^)2320 2nd St., Albuquerque, NM 87107Repair and MaintenanceTerm LoanPrime plus 2.5%4/5/202933.8  33.8  36.2  0.01 %
Auto Sales, Inc.(#,^)2262 HWY 53W, Jasper, GA 30143Motor Vehicle and Parts DealersTerm Loan6%8/17/20234.1  4.1  4.0  — %
Taste of Inverness, Inc. dba China Garden(#,^)1250 Connecticut Ave NW Ste 200, Washington, DC 20036Food Services and Drinking PlacesTerm LoanPrime plus 2%6/29/20255.7  5.7  5.8  — %
Ralph Werner dba Werner Transmission Inc(#,^)365 Fifth Ave, New York, NY 10016Gasoline StationsTerm LoanPrime plus 2.75%12/29/20210.7  0.7  0.7  — %
Robin C. & Charles E. Taylor & Brigantine Aquatic Center LLC(#,^)4505 South I-90 Service Rd, Rapid City, SD 57703Amusement, Gambling, and Recreation IndustriesTerm Loan6%9/14/202324.3  24.3  23.7  0.01 %
OrthoQuest, P.C.(#,^)28 Cornelia St., New York, NY 10014Ambulatory Health Care ServicesTerm LoanPrime plus 2%3/12/20221.3  1.3  1.3  — %
Track Side Collision & Tire, Inc.(#,^)305 Shirley Ave, Douglas, GA 31533Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%6/16/20253.2  3.2  3.4  — %
Deesha Corporation, Inc. dba Best Inn & Suites(#,^)5900 Sepulveda Blvd, Van Nuys, CA 91411AccommodationTerm LoanPrime plus 2.25%2/14/202517.4  17.4  17.9  0.01 %
Randall D. & Patricia D. Casaburi dba Pat's Pizzazz(#,^)620 W. Judge Perez Drive, Chalmette, LA 70163Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%3/13/20233.5  3.5  3.6  — %
Gain Laxmi, Inc. dba Super 8 Motel(#,^)3330 North Beach St., Haltom City, TX 76111AccommodationTerm LoanPrime plus 2.25%5/31/202310.3  10.3  10.4  — %
Naseeb Corporation(#,^)6004 City Park Rd, Austin, TX 78730AccommodationTerm LoanPrime plus 2.25%3/31/202417.1  17.1  17.5  0.01 %
Stillwell Ave Prep School(#,^)301 MACDADE BLVD, COLLINGDALE, PA 19023Social AssistanceTerm LoanPrime plus 2.75%1/14/20233.1  3.1  3.1  — %
112
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)327,446
Alyssa Corp dba Knights Inn(#,^)1420 Spring Hill Rd, McLain, VA 22102AccommodationTerm LoanPrime plus 2.25%9/30/202331.3  31.3  31.8  0.01 %
Bhailal Patel dba New Falls Motel(#,^)5524 Germantown Ave, Philadelphia, PA 19144AccommodationTerm LoanPrime plus 2.75%3/27/20231.2  1.2  1.2  — %
Pegasus Automotive, Inc.(#,^)1402-A Handlir Drive, Bel Air, MD 21015Gasoline StationsTerm LoanPrime plus 2.75%12/23/20224.0  4.0  4.0  — %
P. Agrino, Inc. dba Andover Diner(#,^)595 Bethlehem Pike, Ste 404, Montgomeryville, PA 18936Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/18/20211.8  1.8  1.8  — %
Total SBA Unguaranteed Accrual Investments$361,925.1  $361,925.1  $372,120.2  113.64 %

SBA Unguaranteed Non-Accrual Investments (3) (22)327446
200 North 8th Street Associates LLC and Enchanted Acres Fa(*,#)200 North 8th St., Reading, PA 19601Food ManufacturingTerm Loan6.25%5/4/2028445.6  445.6  315.0  0.10 %
3SIXO Motorsports LLC dba 3SIXO Motorsports Shop(*,#,^)217 W Main St., Centralia, WA 98531Motor Vehicle and Parts Dealers Term Loan7.75%1/6/202994.6  94.6  59.0  0.02 %
6 Price Avenue, LLC and Pauley Tree & Lawn Care, Inc(*,#)6 Price Ave, Norwalk, CT 06840Administrative and Support ServicesTerm Loan8%9/24/2039237.3  237.3  229.4  0.07 %
Pauley Tree and Lawn Care Inc(*,#)6 Price Ave, Norwalk, CT 06854Administrative and Support ServicesTerm Loan8.25%7/28/202546.6  46.6  45.0  0.01 %
Accuair Control Systems LLC dba Accuair Suspension(*,#,^)831 Buckley Rd, San Luis Obispo, CA 93401Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%3/11/2026102.4  102.4  49.5  0.02 %
Acton Hardware LLC and Mark Allgood & Jamie Allgood(*,#,^)31814 Crown Valley Rd, Acton, CA 93510Building Material and Garden Equipment and Supplies Dealers Term Loan8%3/24/2041117.1  117.1  27.8  0.01 %
Advance Case Parts RE Holdings LLC and Advance Case Parts Inc(*,#)12485-12489 NW 44th St., Coral Springs, FL 33071Repair and MaintenanceTerm Loan7.75%3/31/2040318.3  318.3  165.4  0.05 %
Alive Design, LLC(*,#)234 Middle St., Middletown, CT 06457Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/13/202712.6  12.6  9.3  — %
All About Kids and Families Medical Center, Inc.(*,#,^)12086 FT Caroline Rd, Ste. 102,103,401,402,403, 501,502, Jacksonville, FL 32225Ambulatory Health Care ServicesTerm Loan8.25%1/13/2029364.9  364.9  275.0  0.08 %
All Printing Solutions, Inc. dba Pryntcomm(*,#,^)303 E. Sioux Ave, Pierre, SD 57501Printing and Related Support ActivitiesTerm Loan7.75%6/27/2041491.8  491.8  210.6  0.06 %
Allied Welding Inc.(*,#,^)1820 N. Santa Fe Ave, Chillicothe, IL 61523Fabricated Metal Product ManufacturingTerm Loan8.25%12/15/2041719.8  719.8  679.0  0.21 %
Amboy Group, LLC dba Tommy Moloney's(*,#)1 Amboy Ave, Woodbridge, NJ 07095Food ManufacturingTerm Loan7%6/24/20251,458.1  1,458.1  1,450.4  0.44 %
Anglin Cultured Stone Products LLC(*,#,^)877 Salem Church Rd, Newark, DE 19702Construction of BuildingsTerm Loan8.25%12/27/2042630.5  630.5  334.1  0.10 %
113
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
Anglin Cultured Stone Products LLC dba Anglin Construcion(*,#)877 Salem Church Rd, Newark, DE 19702Specialty Trade ContractorsTerm Loan8.25%1/12/202960.8  60.8  —  — %
Anglin Cultured Stone Products LLC dba Anglin Construction(*,#)877 Salem Church Rd, Newark, DE 19702Specialty Trade ContractorsTerm Loan8.25%6/30/2025193.3  193.3  186.9  0.06 %
Anglin Cultured Stone Products LLC dba Anglin Construction(*,#,^)877 Salem Church Rd, Newark, DE 19702Construction of BuildingsTerm Loan8.25%9/26/202895.5  95.5  —  — %
Arclay ,LLC(*,#,^)49 Geyser Rd Ste 100, Saratoga Springs, NY 12866Nonmetallic Mineral Product ManufacturingTerm Loan8%5/5/2030137.1  137.1  37.3  0.01 %
Arrow Freight Inc(*,#,^)1000 Jorie Boulevard Ste 250, Oak Brook, IL 60523Truck TransportationTerm Loan8.25%3/30/2028656.2  656.2  252.3  0.08 %
Auto Shine Carwash Inc and AKM R. Hossain and Jessica F. Masud(*,#)2646 South Rd, Poughkeepsie, NY 12601Gasoline Stations Term Loan7.75%9/26/202415.7  15.7  15.1  — %
AWA Fabrication & Construction, L.L.C.(*,#)811 Country Rd #99, Headland, AL 36345Fabricated Metal Product ManufacturingTerm Loan6%4/30/202534.4  34.4  2.5  — %
B&B Fitness and Barbell, Inc. dba Elevations Health Club(*,#)Route 611 North, Scotrun, PA 18355Amusement, Gambling, and Recreation IndustriesTerm Loan6%6/22/20351,393.3  1,393.3  327.1  0.10 %
B4 Fitness LLC dba The Zoo Health Club(*,#,^)4 Beehive Dr, Epping, NH 03042Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%9/23/202667.8  67.8  35.4  0.01 %
Baker Sales, Inc. d/b/a Baker Sales, Inc.(*,#)60207 Camp Villere Rd, Slidell, LA 70460Nonstore Retailers Term Loan6%3/29/2036177.4  177.4  58.7  0.02 %
Band Sawn Lumber,LLC and Nathan Ryan Adams(*,#,^)1873 State Highway 29, Johnstown, NY 12095Wood Product ManufacturingTerm Loan7.75%5/15/2042110.8  110.8  52.5  0.02 %
Fieldstone Quick Stop LLC(OC) Barber Investments LLC (EPC) Thadius M B(*,#)190 Route 3, South China, ME 04358Gasoline Stations Term Loan6%9/30/2038400.4  400.4  33.0  0.01 %
Barber Investments LLC and Fieldstone Quickstop LLC and Maine Dollar D(*,#)190 Rt 3, South China, ME 04358Gasoline Stations Term Loan6.25%8/15/2039146.3  146.3  —  — %
Bear Creek Entertainment LLC dba The Woods at Bear Creek(*,#,^)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm LoanPrime plus 2.75%8/12/20411,608.1  1,669.7  557.3  0.17 %
Bear Creek Entertainment, LLC dba The Woods at Bear Creek(*,#)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm Loan7.25%12/30/202485.4  85.4  82.6  0.03 %
Bebos Inc dba Pizza Hut & Sunoco(*,#)2003 West 5th St., Clifton, TX 76634Gasoline Stations Term Loan7.75%3/28/2028214.1  214.1  53.7  0.02 %
Bone Bar & Grill LLC(*,#)3547 &3551 Philipsburg Bigler Hwy, West Decatur, PA 16878Food Services and Drinking PlacesTerm Loan7%6/30/204273.4  73.4  61.8  0.02 %
Bowl Mor, LLC dba Bowl Mor Lanes / Spare Lounge, Inc.(*,#)201 Highland Ave, East Syracuse, NY 13057Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%3/13/2039201.2  201.2  146.6  0.04 %
114
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
BQRS, Inc. DBA Gresham Meineke Car Care Center(*,#,^)18081 SE Division St., Portland, OR 97236Repair and MaintenanceTerm Loan8.25%6/30/202754.2  54.2  43.1  0.01 %
Brandywine Picnic Park, Inc. and B.Ross Capps & Linda Capps(*,#)690 South Creek Rd, West Chester, PA 19382Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%3/30/2031179.3  179.3  176.3  0.05 %
Busby Outdoor LLC(*,#,^)1734 Wansley Rd, Laurel, MS 39440Real EstateTerm LoanPrime plus 2.75%8/29/2042684.7  684.7  640.0  0.20 %
Busby Outdoor LLC(*,#,^)1734 Wansley Rd, Laurel, MS 39440Real EstateTerm LoanPrime plus 2.75%8/29/2042537.9  537.9  502.8  0.15 %
Calhoun Satellite Communications Inc and Transmission Solutions Group(*,#)1914 Tigertail Blvd, Dania, FL 33004Broadcasting (except Internet)Term Loan6.75%2/27/2025724.2  724.2  —  — %
Calhoun Satellite Communications, Inc.(*,#)1914 Tigertail Boulevard, Dania Beach, FL 33004TelecommunicationsTerm Loan7%12/2/2026189.1  189.1  42.0  0.01 %
Capstone Pediatrics PLLC and Capstone Healthcare Consulting LLC(*,#)310 25th Ave N. St. Ste. 201, Nashville, TN 37203Ambulatory Health Care ServicesTerm Loan7.75%5/15/2025556.4  556.4  82.3  0.03 %
Cardinal Homes Inc,.Alouette Holdings Inc.,Bret Berneche &,orothy M(*,#,^)525 Barnsville Highway, Wylliesburg, VA 23976Wood Product ManufacturingTerm Loan8%12/14/2026868.8  868.8  840.0  0.26 %
Cardinal Homes Inc. and Bret A Berneche(*,#,^)525 Barnesville Highway, Wylliesburg, VA 23976Wood Product ManufacturingTerm Loan8%12/14/2041116.7  116.7  112.8  0.03 %
Cardinal Homes, Inc(*,#,^)525 Barnsville Highway, Wylliesburg, VA 23976Wood Product ManufacturingTerm Loan8.25%10/27/202795.7  95.7  92.5  0.03 %
Carl R. Bieber, Inc. dba Bieber Tourways/Bieber Transportation/Bieber(*,#)320 Fair St., Kutztown, PA 19530Transit and Ground Passenger TransportationTerm Loan7.5%9/30/2027366.2  366.2  354.1  0.11 %
CD Game Exchange Inc.(*,#,^)3719 N Mississippi, Portland, OR 97227Merchant Wholesalers, Durable Goods Term Loan8.25%9/28/202610.4  10.4  10.1  — %
Central Medical Clinic, PLLC- Clinica Central(*,#)393 North Dunlap St. Ste LL26, LL34, LL38, St Paul, MN 55104Ambulatory Health Care ServicesTerm Loan8.25%6/7/2029307.2  307.2  109.3  0.03 %
Chickamauga Properties, Inc., MSW Enterprises, LLP(*,#)214 Sutherland Way, Rocky Face, GA 30740Amusement, Gambling, and Recreation IndustriesTerm Loan6.25%12/22/203559.0  59.0  57.1  0.02 %
Chickamauga Properties, Inc. and MSW Enterprises, LLP(*,#)214 Sutherland Way, Rocky Face, GA 30740Amusement, Gambling, and Recreation IndustriesTerm Loan6.25%10/19/202243.5  43.5  42.0  0.01 %
Children First Home Health Care Inc(*,#,^)1220 Broadcasting Rd Ste 202, Wyomissing, PA 19610Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/27/2028282.4  282.4  44.5  0.01 %
Clark Realty LLC(*,#,^)4 Walker Way, Albany, NY 12205Real EstateTerm Loan8%8/29/204173.3  73.3  18.8  0.01 %
CLU Amboy, LLC (EPC) and Amboy Group, LLC (OC) dba Tommy Moloney's(*,#)One Amboy Ave, Woodbridge, NJ 07095Food ManufacturingTerm Loan7%12/27/2023440.0  440.0  435.8  0.13 %
115
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
Clearwater Transportation LTD dba Thrifty Car Rental, Dollar Rent A Ca(*,#,^)8790 Crownhill Blvd, San Antonio, TX 78209Rental and Leasing ServicesTerm Loan8.25%11/29/2027153.7  153.7  16.8  0.01 %
CNYP 717 Irondequoit LLC and CNYP 2002 Ontario LLC(*,#,^)717 Titus Ave, Rochester, NY 14617Food Services and Drinking PlacesTerm Loan8.25%11/20/2040232.4  232.4  41.1  0.01 %
Colts V LLC and Nowatzke Service Center, Inc dba Nowatzke Truck & Trai(*,#)6900 Whitmore Lake Rd, Whitmore Lake, MI 48189Repair and MaintenanceTerm Loan6.75%9/26/2039553.3  553.3  478.7  0.15 %
Conference Services International ETC LLC(*,#,^)4802 West Van Buren St., Phoenix, AZ 85007Administrative and Support ServicesTerm Loan8%8/14/2028597.0  597.0  376.1  0.11 %
Custom Software, Inc. a Colorado Corporation dba M-33 Access(*,#)380 E. Borden Rd, Rose City, MI 48654Professional, Scientific, and Technical ServicesTerm Loan6.25%6/17/2021220.5  220.5  107.3  0.03 %
Custom Software, Inc. a Colorado Corporation dba M-33 Access(*,#)380 E. Borden Rd, Rose City, MI 48654Broadcasting (except Internet)Term Loan6.25%4/30/202294.3  94.3  —  — %
CZAR Industries, Inc.(*,#,^)1424 Heath Ave, Ewing, NJ 08638Machinery ManufacturingTerm Loan8.25%12/19/2027219.9  219.9  78.9  0.02 %
D&G Capital LLC dba Miami Grill 277(*,#,^)2521 North Federal Highway, Unit C, Boca Raton, FL 33431Food Services and Drinking PlacesTerm Loan6.5%12/16/202544.7  44.7  21.6  0.01 %
Darian L Hampton DDS PA and Darian L. Hampton(*,#)3610 N Josey Lane Ste 104, Carrollton, TX 75007Ambulatory Health Care ServicesTerm Loan8.25%12/20/2028292.6  292.6  3.1  — %
Dixie Transport, Inc. & Johnny D. Brown & Jimmy Brown & Maudain Brown(*,#,^)2685 US Hwy 41, Calhoun, GA 30701Support Activities for TransportationTerm Loan5.25%12/28/20351,316.8  1,316.8  476.7  0.15 %
Douglas Printy Motorsports, Inc. dba Blackburn Trike(*,#)1410 Medina Rd, Medina, OH 44256Motor Vehicle and Parts Dealers Term Loan8.25%3/9/2040155.9  155.9  83.0  0.03 %
Doxa Deo Inc dba Luv 2 Play(*,#,^)1600 Village Market Blvd, Leesburg, VA 20175Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%2/28/202681.3  81.3  79.9  0.02 %
Dr. Richard Rolle JR, PLLC dba Rolle Oral & Facial Surgery PLLC(*,#,^)1515 Shopton Rd, Charlotte, NC 28217Ambulatory Health Care ServicesTerm Loan7.5%9/29/2042869.9  869.9  575.5  0.18 %
Dr. Richard R. Rolle, Jr., PLLC dba Rolle Oral & Facial Surgery(*,#,^)9615 Caldwell Commons Circle, Ste. B, Cornelius, NC 28031Ambulatory Health Care ServicesTerm Loan7.5%12/18/2027122.3  122.3  —  — %
Driven Warehouse/Distribution LLC(*,#)271 East North Ave, Glendale, IL 60139Truck TransportationTerm Loan8%12/22/2027726.2  726.2  423.9  0.13 %
DTM Parts Supply Inc.(*,#)31 Sageman St, Mount Vernon, NY 10550Merchant Wholesalers, Durable Goods Term Loan7%6/2/202547.6  47.6  36.2  0.01 %
DuCharme Realty LLC and DuCharme Enterprises LLC dba Specialty(*,#)1717 Highway 200, Noxon, MT 59853Wood Product ManufacturingTerm Loan8%2/2/2040163.3  163.3  49.8  0.02 %
Dynamic Dental Corporation(*,#,^)3760 NW 126th Ave, Coral Springs, FL 33065Merchant Wholesalers, Durable Goods Term Loan7.5%5/31/202960.4  60.4  24.7  0.01 %
E & I Holdings, LP & PA Farm Products, LLC(*,#)1095 Mt Airy Rd, Stevens, PA 17578Food ManufacturingTerm Loan6%4/30/20304,705.2  4,811.6  2,669.4  0.82 %
116
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
Earth First Recycling LLC(*,#,^)400 Island Park Rd, Easton, PA 18040Merchant Wholesalers, Durable Goods Term Loan8%12/6/202772.8  72.8  69.2  0.02 %
Earth First Recycling, LLC and 191 Clark Road, LLC(*,#,^)400 Island Park Rd, Easton, PA 18040Merchant Wholesalers, Durable Goods Term Loan8%6/5/2027338.0  338.0  321.3  0.10 %
Elegant Fireplace Mantels, Inc. dba Elegant Fireplace Mantels(*,#,^)11949 Borden Ave, San Fernando, CA 91340Specialty Trade ContractorsTerm Loan8.25%12/31/202243.9  43.9  43.2  0.01 %
Ericon Inc. dba Quik Pik(*,#,^)740 Davenport Ave, Freemont, NE 68025Gasoline Stations Term Loan8.25%3/24/202754.2  54.2  —  — %
Ericon, Inc.(*,#,^)740 Davenport Ave, Fremont, NE 68025Gasoline Stations Term Loan8.25%12/1/2041705.6  705.6  644.1  0.20 %
Ericon, Inc. dba Quik Pik(*,#,^)740 Davenport Ave, Freemont, NE 68025Gasoline Stations Term Loan8.25%12/15/2041322.8  322.8  —  — %
ERT Group Inc and Curt's Tools Inspection Inc(*,#,^)5229 142nd Dr. NW, Williston, ND 58801Support Activities for MiningTerm LoanPrime plus 2.75%3/18/20411,178.9  1,178.9  1,035.0  0.32 %
Europlast Ltd(*,#)100 Industrial Lane, Endeavor, WI 53930Plastics and Rubber Products ManufacturingTerm Loan6%9/26/2022312.9  312.9  53.5  0.02 %
Europlast Ltd(*,#)100 Industrial Lane, Endeavor, WI 53930Plastics and Rubber Products ManufacturingTerm Loan6%5/31/202373.4  73.4  —  — %
Evergreen Pallet LLC and Evergreen Recycle LLC(*,#,^)302 W 53rd St N., Wichita, KS 67204Wood Product ManufacturingTerm Loan8.25%3/16/2026912.8  912.8  298.4  0.09 %
Evernook Valley Milk LLC(*,#,^)7448 Emmerson Rd, Everson, WA 98247Animal Production and AquacultureTerm Loan7.5%8/31/2042637.5  637.5  457.3  0.14 %
Excel RP Inc(*,#,^)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%8/30/202366.8  66.8  58.4  0.02 %
Excel RP Inc(*,#,^)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%3/25/202695.2  95.2  58.9  0.02 %
Excel RP, Inc./Kevin and Joann Foley(*,#)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%7/8/202832.4  32.4  31.4  0.01 %
Ezzo Properties, LLC and Great Lakes Cleaning, Inc.(*,#)1405 Combermere Dr., Troy, MI 48083Administrative and Support ServicesTerm Loan7.75%12/20/2027241.9  241.9  —  — %
New Image Building Services, Inc. dba New Image Repair Services(*,#)1405 Combermere Dr., Troy, MI 48083Repair and MaintenanceTerm Loan7.75%8/23/2037158.5  158.5  60.3  0.02 %
New Image Building Services Inc. dba New Image Repair Services; The Ma(*,#)1405 Combermer Dr., Troy, MI 48083Repair and MaintenanceTerm Loan7.75%10/29/2023197.1  197.1  —  — %
New Image Building Services, Inc. dba The Maids serving Oakland and Ma(*,#,^)320 Church St., Mount Clemens, MI 48043Administrative and Support ServicesTerm Loan7.75%1/19/202667.8  67.8  —  — %
New Image Building Services, Inc.dba The Maids Servicing Oakland &Maco(*,#,^)1405 Combermere Dr, Troy, MI 48083Administrative and Support ServicesTerm Loan7.75%12/21/202639.0  39.0  —  — %
New Image Building Services, Inc.(*,#,^)1405 Combermere Dr, Troy, MI 48083Administrative and Support ServicesTerm Loan7.75%5/18/2027138.9  138.9  —  — %
117
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
Flooring Liquidators Inc and Flooring Liquidators of Mt Kisco LLC(*,#)267 Saw Mill River Rd, Elmsford, NY 10523Specialty Trade ContractorsTerm Loan6.75%6/17/2025299.5  299.5  112.7  0.03 %
Florida Apnea Diagnostics LLC(*,#,^)2664 Cypress Ridge Boulevard Ste. 101 & 102 A, Wesley Chapel, FL 33544Ambulatory Health Care ServicesTerm Loan8.25%10/20/2027143.4  143.4  66.0  0.02 %
Florida Apnea Diagnostics, LLC(*,#,^)2664 Cypress Ridge Boulevard, Stes 101&102, Wesley Chapel, FL 33624Ambulatory Health Care ServicesTerm Loan8.25%7/24/202820.1  20.1  —  — %
Frontier Sand LLC(*,#,^)305 Country Highway AA, New Auburn, WI 54757Mining (except Oil and Gas)Term Loan8.25%11/30/2027463.6  463.6  318.6  0.10 %
Galaforo Construction and Companies LLC(*,#,^)1770 Stumpf Boulevard, Terrytown, LA 70056Construction of BuildingsTerm Loan7.5%12/15/204233.6  33.6  31.9  0.01 %
Galaforo Construction LLC and Paul M Galaforo, Jr.(*,#)1770 Stumpf Boulevard, Terrytown, LA 70056Construction of BuildingsTerm Loan7.5%12/15/2027329.0  329.0  14.5  — %
GEM2K, LLC dba Precision Precast Group(*,#,^)4150 E Magnolia St., Phoenix, AZ 85034Miscellaneous ManufacturingTerm Loan8.25%5/19/2027140.4  140.4  23.6  0.01 %
Grand Manor Realty, Inc. & Kevin LaRoe(*,#)318 S. Halsted St., Chicago, IL 60661Real EstateTerm Loan6%2/20/202319.0  19.0  18.3  0.01 %
Graphics,Type and Color Enterprises Inc dba Clubflyers.com and GTC Med(*,#,^)2300 NW 7th Ave, Miami, FL 33127Printing and Related Support ActivitiesTerm Loan8.25%9/28/2041821.5  821.5  780.9  0.24 %
Green Country Filter Manufacturing LLC(*,#,^)1415 S. 70th E Ave, Tulsa, OK 74112Miscellaneous ManufacturingTerm Loan8%4/27/202659.4  59.4  7.2  — %
H.M.C, Incorporated(*,#,^)7190 Oakland Mills Rd Ste 10, Columbia, MD 21046Furniture and Related Product ManufacturingTerm Loan8.25%7/3/2028183.8  183.8  174.7  0.05 %
Hagerstown Muffler, Inc. and JMS Muffler, Inc(*,#)1390 Dual Highway, Hagerstown, MD 21740Repair and MaintenanceTerm Loan8%9/24/2040150.0  150.0  142.8  0.04 %
Harrelson Materials Management,Inc(*,#)1101 Russell Rd, Shreveport, LA 71107Waste Management and Remediation ServicesTerm Loan6%6/24/2021465.2  465.2  4.6  — %
Hartford Cardiology Group LLC and Ideal Nutrition of Connecticut LLC(*,#,^)345 North Main St., West Hartford, CT 06117Ambulatory Health Care ServicesTerm Loan0%5/15/2024451.5  451.5  —  — %
HDD Solutions, LLC(*,#)6550 Progress Parkway, Cedar Hill, MO 63016Heavy and Civil Engineering ConstructionTerm Loan8.25%12/31/2028552.8  552.8  334.9  0.10 %
HG Ventures, Inc.(*,#,^)100 Phoenix Dr, Finleyville, PA 15332Truck TransportationTerm Loan7.5%3/9/2028120.9  120.9  33.8  0.01 %
HG Ventures, Inc. dba Diamond Head Trucking(*,#,^)100 Phoenix Dr, Finleyville, PA 15332Truck TransportationTerm Loan7.5%6/29/2030776.3  776.3  158.4  0.05 %
Home Again Restaurant LLC(*,#)9524 Camp Lake Rd, Salem, WI 53168Food Services and Drinking PlacesTerm Loan6.25%6/30/20400.4  0.4  0.3  — %
Insight Vision Care, PC, CRMOD Lubbock, P.C.,Vielm Vision Eyecare Inc(*,#,^)4899 Griggs Rd, Houston, TX 77021Ambulatory Health Care ServicesTerm Loan7.75%12/27/20431,084.6  1,084.6  236.5  0.07 %
118
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
J and K Fitness L.L.C. dba Physiques Womens Fitness Center(*,#,^)2505 Verot School RD, Lafayette, LA 70508Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%2/28/204190.1  90.1  —  — %
J&K Fitness, LLC dba Physiques Womens Fitness Center(*,#)2505 Verot School Rd, Lafayette, LA 70508Amusement, Gambling, and Recreation IndustriesTerm Loan8%6/8/203614.6  14.6  8.0  — %
J Olson Enterprises LLC and Olson Trucking Direct, Inc.(*,#)311 Ryan St, Holmen, WI 54636Truck TransportationTerm Loan6%6/28/2025628.4  628.4  20.6  0.01 %
JN Thompson Ent,Inc.(*,#,^)400 5th Ave S Ste 100, Naples, FL 34102Construction of BuildingsTerm Loan7.75%12/7/2028377.5  377.5  197.2  0.06 %
Kantz LLC and Kantz Auto LLC dba Kantz's Hometown Auto(*,#)200 West Adams St, Cochranton, PA 16314Motor Vehicle and Parts Dealers Term Loan6.25%10/29/203911.1  11.1  5.2  — %
Kids at Heart,LLC dba Monster Mini Golf(*,#,^)10 Newbury St., Danvers, MA 01923Amusement, Gambling, and Recreation IndustriesTerm Loan6.75%9/22/202619.3  19.3  13.9  — %
Kidtastic LLC dba The Little Gym of Audubon(*,#,^)2850 Audubon Dr, Audubon, PA 19403Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%7/27/202644.9  44.9  20.8  0.01 %
Kneading Dough LLC dba NY Bagel Cafe & Deli,NY Bagle, New York Bagle,N(*,#)10287 Okeechobee Blvd #13, Royal Palm Beach, FL 33411Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/23/202918.1  18.1  17.8  0.01 %
Kostekos Inc dba New York Style Pizza(*,#)10 South King St., Gloucester, NJ 08030Food Services and Drinking PlacesTerm Loan8%2/6/204061.9  61.9  11.8  — %
LA Diner Inc dba Loukas L A Diner(*,#)3205 Route 22 East, Branchburg, NJ 08876Food Services and Drinking PlacesTerm Loan7.25%9/28/203792.8  92.8  91.3  0.03 %
LAN Doctors Inc(*,#)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%8/28/202559.8  59.8  58.8  0.02 %
LAN Doctors Inc(*,#,^)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%3/16/202643.4  43.4  27.4  0.01 %
Lan Doctors, Inc.(*,#,^)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%12/7/2026203.3  203.3  —  — %
Linqserv Inc.(*,#,^)1555 Lyell Ave, Rochester, NY 14606Transit and Ground Passenger TransportationTerm Loan7.5%11/9/2027285.6  285.6  60.9  0.02 %
Lowgap Grocery & Grill LLC(*,#,^)8773 West Pine St., Lowgap, NC 27024General Merchandise Stores Term Loan7.25%3/24/204148.0  48.0  23.6  0.01 %
M & H Pine Straw Inc and Harris L. Maloy(*,#)526 Perry House Rd, Fitzgerald, GA 31750Merchant Wholesalers, Nondurable Goods Term Loan7.5%3/21/2023197.4  197.4  59.7  0.02 %
M & H Pine Straw, Inc and Harris L. Maloy(*,#)526 Perry House Rd, Fitzgerald, GA 31750Support Activities for Agriculture and ForestryTerm Loan6%4/30/202049.4  49.4  48.6  0.01 %
M & H Pine Straw, Inc.and Harris Maloy(*,#)526 Perry House Rd, Fitzgerald, GA 31750Merchant Wholesalers, Nondurable Goods Term Loan7.5%7/10/202027.4  27.4  22.5  0.01 %
M & H Pinestraw, Inc. and Harris L. Maloy(*,#)526 Perry House Rd, Fitzgerald, GA 31750Merchant Wholesalers, Nondurable Goods Term Loan7.5%12/15/2021133.8  133.8  49.8  0.02 %
Magill Truck Line LLC and Jeff J. Ralls(*,#,^)211 West 53rd St. N., Park City, KS 67204Truck TransportationTerm Loan8%3/11/2029186.2  186.2  92.9  0.03 %
Mariam Diner Inc dba Country Kitchen Restaurant(*,#,^)17393 Main St., Hesperia, CA 92345Food Services and Drinking PlacesTerm Loan8%3/18/202642.8  42.8  17.2  0.01 %
119
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
Matchless Transportation LLC dba First Class Limo(*,#)31525 Aurora Rd # 5, Solon, OH 44139Transit and Ground Passenger TransportationTerm Loan6.25%5/31/2020119.2  119.2  4.3  — %
MB Xpress Inc(*,#,^)159 D'Arcy Parkway, Lathrop, CA 95330Truck TransportationTerm Loan8.25%9/19/20281,156.1  1,156.1  923.4  0.28 %
Medeiros Holdings Inc dba Outdoor Lighting Perspectives of the Triad(*,#,^)780 S Peace Haven Rd, Winston Salem, NC 27103Electrical Equipment, Appliance, and Component ManufacturingTerm Loan7%11/25/202510.5  10.5  4.8  — %
Mellow Sweets, Inc dba Jaafer Sweets & Marwan Hamdan(*,#,^)4825 North Kedzie Ave, Chicago, IL 60625Food ManufacturingTerm LoanPrime plus 2.75%9/28/202853.0  53.0  1.1  — %
MIT LLC(*,#,^)11 North Peach ST., Medford, OR 97504Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/31/204284.9  84.9  61.4  0.02 %
Modern Manhattan LLC(*,#,^)250 Park Ave South, New York, NY 10003Furniture and Home Furnishings Stores Term LoanPrime plus 2.75%11/25/2024126.7  126.7  120.4  0.04 %
Modern Manhattan, LLC(*,#,^)162 N 3rd St., Philadelphia, PA 19106Furniture and Home Furnishings Stores Term Loan7.5%9/20/202020.2  20.2  19.2  0.01 %
Modern on the Mile, LLC dba Ligne Roset(*,#,^)162 N. 3rd St., Philadelphia, PA 19106Furniture and Home Furnishings Stores Term Loan7.5%5/25/202136.8  36.8  35.0  0.01 %
Mojo Brands Media, LLC(*,#)3260 University Blvd., Ste 100, Winter Park, FL 32792Broadcasting (except Internet)Term Loan6%8/28/2023725.0  725.0  112.6  0.03 %
Morris Glass and Construction Inc(*,#)40058 Highway 30, Astoria, OR 97103Specialty Trade ContractorsTerm Loan15%10/1/2023387.3  387.3  193.2  0.06 %
MTV Bowl, Inc. dba Legend Lanes(*,#)4190 State Rd, Cuyahoga Falls, OH 44223Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%6/30/2036191.5  191.5  136.3  0.04 %
Mustafa Inc dba Adiba Grocery(*,#,^)5712 Wurzbach Rd, San Antonio, TX 78238Food and Beverage Stores Term LoanPrime plus 2.75%12/17/202569.5  69.5  67.2  0.02 %
Mustafa Inc and Raouf Properties LLC(*,#,^)3538 Pin Oak Dr, San Antonio, TX 78229Food and Beverage Stores Term LoanPrime plus 2.75%3/14/204169.6  69.6  67.3  0.02 %
N Transport LLC(*,#,^)5348 W Brown Ave, Fresno, CA 93722Truck TransportationTerm Loan8%11/20/2027385.5  385.5  79.0  0.02 %
N Transport LLC(*,#,^)294 N. Fruit Ave, Fresno, CA 93706Truck TransportationTerm Loan8.25%11/20/2042175.3  175.3  139.9  0.04 %
Neville Galvanizing, Inc(*,#)2983 Grand Ave, Pittsburgh, PA 15225Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/15/2042235.7  235.7  —  — %
Olsen Bros. Transportation, Inc. & Golden Spike Leasing, LLC(*,#,^)2520 Pennsylvania Ave, Ogden, UT 84401Truck TransportationTerm Loan8.25%6/20/2028531.9  531.9  76.7  0.02 %
P & M Entertainment, LLC dba Luv 2 Play(*,#,^)35 Lafayette Rd Ste #8, North Hampton, NH 03862Amusement, Gambling, and Recreation IndustriesTerm Loan6%5/10/2028106.1  106.1  102.6  0.03 %
Paragon Fabricators Inc, Paragon Field Services, Inc and Paragon Globa(*,#)412 and 500 Main St., La Marque, TX 77568Heavy and Civil Engineering ConstructionTerm Loan7%9/28/2026570.7  570.7  19.4  0.01 %
Paragon Global, LLC and Paragon Fabricators Inc and Paragon Field Serv(*,#,^)412 and 500 Main St., La Marque, TX 77568Heavy and Civil Engineering ConstructionTerm Loan7%9/28/2041110.1  110.1  71.2  0.02 %
120
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
Peter K Lee MD, PC dba Atlanta Primary Care(*,#,^)211 Roberson Mill Rd, Milledgeville, GA 31061Ambulatory Health Care ServicesTerm Loan8.25%9/13/2043859.6  859.6  831.0  0.25 %
Peter K Lee MD, PC dba Atlanta Primary Care LLC(*,#,^)5 Ashford Way, Hawkinsville, GA 31061Ambulatory Health Care ServicesTerm Loan8.25%9/13/2028381.0  381.0  368.4  0.11 %
Play4Fun dba Luv 2 Play(*,#,^)13722 Jamboree Rd, Irvine, CA 92602Amusement, Gambling, and Recreation IndustriesTerm Loan7.5%3/7/2028156.7  156.7  125.0  0.04 %
PLES Investements, LLC and John Redder, Pappy Sand & Gravel, Inc., T(*,#,^)2040 Dowdy Ferry, Dallas, TX 75218Specialty Trade ContractorsTerm Loan8.25%12/19/2038494.7  494.7  478.3  0.15 %
Top Cat Ready Mix, LLC, Ples Investments LLC, and Pappy's Sand and(*,#,^)13851 S State HWY 34, Scurry, TX 75158Specialty Trade ContractorsTerm Loan8.25%10/28/2025479.9  479.9  317.0  0.10 %
PS Camping Inc.(*,#,^)43595 US Hwy 50, Canon City, CO 81212AccommodationTerm Loan8.25%12/1/202718.5  18.5  17.8  0.01 %
PS Camping, Inc. dba Prospectors RV Resort(*,#,^)43659&43595 US Highway 50, Canon City, CO 81212AccommodationTerm Loan8.25%5/19/2042240.8  240.8  232.8  0.07 %
Ramjay Inc.(*,#,^)85 S. Bragg St. Ste 303, Alexandria, VA 22312Transit and Ground Passenger TransportationTerm Loan8.25%1/13/2027375.6  375.6  77.9  0.02 %
Randall Miller Company, Inc and Boyz Transportation Services, LLC(*,#,^)256 Blackley Rd, Bristole, TN 37620Truck TransportationTerm Loan7.75%7/31/2029838.2  838.2  137.9  0.04 %
RDT Enterprises LLC(*,#)2134 Helton Dr, Florence, AL 35630Specialty Trade ContractorsTerm Loan7%9/15/202780.6  80.6  38.4  0.01 %
RDT Enterprises, LLC(*,#)2134 Helton Dr, Florence, AL 35630Specialty Trade ContractorsTerm Loan7%12/31/202859.9  59.9  48.9  0.01 %
Recovery Boot Camp, LLC, Rule 62, Inc. and Healing Properties, LLC(*,#,^)85 SW 5th Ave, Delray Beach, FL 33444Ambulatory Health Care ServicesTerm Loan7.75%12/28/2028115.6  115.6  9.3  — %
Return to Excellence Inc(*,#,^)176 Country Club Dr, Waynesville, NC 28786Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%1/27/202715.6  15.6  15.1  — %
Return to Excellence, Inc. dba The Waynesville Inn Golf & Spa(*,#)176 Country Club Dr, Waynesville, NC 28786Amusement, Gambling, and Recreation IndustriesTerm Loan8%10/10/20391,154.0  1,154.0  1,115.7  0.34 %
Rhone Wolf Vineyard LLC, Goldline Brands Inc. and Myka Cellars, Inc.(*,#,^)5245 Bucks Bar Rd, Placerville, CA 95667Beverage and Tobacco Product ManufacturingTerm Loan8.25%1/19/2030230.9  230.9  219.5  0.07 %
Roundhay Partners LLC and Roundhay Farming LLC(*,#,^)6160 Granite Spring Rd, Somerset, CA 95684Crop ProductionTerm Loan8.25%8/8/2042902.1  902.1  819.7  0.25 %
Rich's Food Stores LLC dba Hwy 55 of Wallace(*,#,^)611 East Southerland St., Wallace, NC 28466Food Services and Drinking PlacesTerm Loan8.25%9/14/202699.3  99.3  16.6  0.01 %
Rich's Food Stores LLC dba Hwy 55 of Wallace(*,#,^)611 East Southerland St., Wallace, NC 28466Food Services and Drinking PlacesTerm Loan8.25%11/9/202637.1  37.1  —  — %
Route 130 SCPI Holdings LLC (EPC) Route 130 SCPI Operations LLC (OC) d(*,#)423-429 Route 156, Trenton, NJ 08620Food Services and Drinking PlacesTerm Loan6.25%9/30/2039279.5  279.5  37.1  0.01 %
Sanabi Investment, LLC dba Oscar's Moving and Storage(*,#,^)11421 N W 107th St., #13, Miami, FL 33178Truck TransportationTerm Loan7.5%6/20/2027$95.9  $95.9  38.5  0.01 %
121
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
Sand Hill Associates, Ltd. dba Charlie O's Tavern on the Point(*,#,^)2 Sand Hill Cove Rd, Narragansett, RI 02882Food Services and Drinking PlacesTerm Loan8.25%12/27/2041$413.0  $413.0  221.9  0.07 %
SDA Holdings LLC and Les Cheveux Salon Inc(*,#,^)306 McClanahan St., Roanoke, VA 24014Personal and Laundry ServicesTerm Loan7.5%12/15/2040108.5  108.5  66.6  0.02 %
Select Propane & Fuel Inc. and Select Fuel & Convenience LLC(*,#)3822 State Route 3, Red Bud, IL 62278Merchant Wholesalers, Nondurable Goods Term Loan7.5%2/10/2030524.2  524.2  22.9  0.01 %
SG Linke LLC(*,#,^)413 N Alfaya Trail P11, Orlando, FL 32828Clothing and Clothing Accessories Stores Term Loan8.25%5/12/202767.3  67.3  65.1  0.02 %
Shaffer Automotive Repair, LLC(*,#)1485 North McQueen Rd #1, Gilbert, AZ 85233Repair and MaintenanceTerm Loan7%5/24/2030132.8  132.8  38.3  0.01 %
Shane M. Howell and Buck Hardware and Garden Center, LLC(*,#)1007 Lancaster Pike, Quarryville, PA 17566Building Material and Garden Equipment and Supplies Dealers Term Loan7.5%12/27/2038113.4  113.4  13.1  — %
Soregard Inc(*,#,^)605 Birch Dr, Maquoketa, IA 52060Furniture and Related Product ManufacturingTerm Loan7.5%6/30/2041152.8  152.8  37.7  0.01 %
Sourceco Limited Liability Company(*,#,^)17 Palmer Ave, West Long Branch, NJ 07764Merchant Wholesalers, Nondurable Goods Term Loan6.5%12/17/202530.2  30.2  26.3  0.01 %
Sovereign Communications LLC(*,#)26 E 3 Mile Rd,, Sault Sainte Marie, MI 49783Broadcasting (except Internet)Term Loan6.75%2/7/2024627.4  627.4  129.0  0.04 %
STK Ventures Inc dba JP Dock Service & Supply(*,#)12548 N State Highway 7, Climax Springs, MO 65324Specialty Trade ContractorsTerm Loan6%5/9/203731.6  31.6  4.7  — %
Stormrider Inc dba Shirley's Stormrider Inc(*,#)1335 N. Gable Rd, St. Hedwig, TX 78152Truck TransportationTerm Loan7.25%9/23/202553.1  53.1  —  — %
Stormrider Inc dba Shirley's Stormrider, Inc(*,#)1335 N Gable Rd, St Hedwig, TX 78152Truck TransportationTerm Loan7.75%11/25/2024102.9  102.9  12.4  — %
Street Magic Enterprise LLC(*,#,^)1700 E Bridge St., New Lisbon, WI 93950Gasoline Stations Term Loan7.75%12/21/202786.3  86.3  —  — %
Street Magic Enterprise LLC dba New Lisbon Travel Mart(*,#,^)1700 East Bridge St., New Lisbon, WI 53950Gasoline Stations Term Loan7.5%11/7/2042419.0  419.0  223.6  0.07 %
Summitsoft Corporation(*,#,^)11105 Mockingbird Dr, Omaha, NE 68137Publishing Industries (except Internet)Term Loan7.75%7/26/2028115.4  115.4  61.8  0.02 %
Suncrest Stone Products LLC(*,#,^)341 County Farm Rd, Ashburn, GA 31714Nonmetallic Mineral Product ManufacturingTerm Loan7.25%8/29/2041612.5  612.5  236.3  0.07 %
Suncrest Stone Products LLC(*,#,^)341 County Farm Rd, Ashburn, GA 31714Nonmetallic Mineral Product ManufacturingTerm Loan7.5%8/29/2026536.6  536.6  124.9  0.04 %
T and B Boots Inc dba Takken's Shoes(*,#,^)72 South Main St., Templeton, CA 93465Clothing and Clothing Accessories Stores Term Loan7.25%6/17/2026204.5  204.5  —  — %
T and B Boots Inc dba Takken's Shoes(*,#)72 South Main St., Templeton, CA 93465Clothing and Clothing Accessories Stores Term Loan7.25%12/7/202695.2  95.2  79.7  0.02 %
Tarver-Henley Inc. and Tar-Hen LLC(*,#,^)2125 College Ave, Jackson, AL 36545Building Material and Garden Equipment and Supplies Dealers Term Loan7.75%6/21/204297.8  97.8  50.0  0.02 %
The Jig, LLC(*,#,^)3115 Camp Phillips Rd, Wausau, WI 54403Food Services and Drinking PlacesTerm Loan8.25%10/24/204225.6  25.6  24.7  0.01 %
122
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)327446
The Lake Shore Hospitality Inc dba Dowagiac Baymont Inn & Suites(*,#,^)29291 Amerihost Dr, Dowagiac, MI 49047AccommodationTerm Loan8.25%12/5/2041335.1  335.1  313.3  0.10 %
The Woods at Bear Creek LLC and Bear Creek Entertainment LLC dba The(*,#)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm Loan7%9/29/2039489.6  489.6  473.3  0.14 %
Transmission Solutions Group, Inc. and Calhoun Satellite Communicatio(*,#)1007 &1009 Old Route 119, Hunker, PA 15639TelecommunicationsTerm Loan7%12/2/204164.7  64.7  —  — %
TX Superior Communications, LLC(*,#,^)6223 Krempen Ave, San Antonio, TX 78233Specialty Trade ContractorsTerm Loan8%3/19/202885.5  85.5  72.2  0.02 %
United States Plastic Equipment LLC(*,#,^)4447 OH-303, Mantua, OH 44255Merchant Wholesalers, Durable Goods Term Loan8.25%12/13/2028137.1  137.1  4.8  — %
Victorian Restaurant and Tavern, LLC(*,#,^)226 Maple Ave, Cheshire, CT 06410Food Services and Drinking PlacesTerm Loan8.25%2/22/2042104.4  104.4  28.1  0.01 %
Webb Eye Associates, PA(*,#,^)1720 S W W White Rd, San Antonio, TX 78220Ambulatory Health Care ServicesTerm Loan7.25%7/19/202771.2  71.2  33.6  0.01 %
White Hawk Inc.(*,#,^)2101 Dr. Martin Luther King Jr. Blvd, Stockton, CA 95205Truck TransportationTerm Loan8.25%12/15/2026919.4  919.4  889.0  0.27 %
Wilban LLC(*,#,^)454 US Highway 22, Whitehouse Station, NJ 08889Food Services and Drinking PlacesTerm Loan7.5%3/11/202693.2  93.2  90.1  0.03 %
Wilban LLC(*,#)454 US Highway 22, Whitehouse Station, NJ 08889Food Services and Drinking PlacesTerm Loan7.25%3/28/2039402.7  402.7  263.5  0.08 %
Zeeba Company, Inc dba Zeeba Rent-A-Van & 5 Star Rent- A-Van(*,#,^)3200 Wilshire Blvd Ste 1000, Los Angeles, CA 90010Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/27/2028652.5  652.5  630.8  0.19 %
Zahmel Restaurant Suppliers Corp dba Cash & Carry;Zahners Hardware;Zan(*,#,^)33-51 11th St., Astoria, NY 11106Merchant Wholesalers, Nondurable Goods Term Loan8.25%4/28/202775.8  75.8  61.9  0.02 %
Total Unguaranteed Non-Accrual SBA Investments$61,460.7  $61,628.7  $32,816.7  10.02 %
Total Unguaranteed SBA Investments$423,385.8  $423,553.8  $404,936.9  123.67 %
SBA Guaranteed Accrual Investments (4a)327,446  
Matrix Z LLC800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 6.5%2/27/202911.6  11.6  12.5  — %
Rello Inc.8063 Jericho Turnpike, Woodbury, NY 11797Personal and Laundry ServicesTerm LoanPrime plus 6.5%4/17/20295.6  5.6  6.1  — %
2Choice2Friends LLC901 W Braker Lane, Austin, TX 78758Food Services and Drinking PlacesTerm LoanPrime plus 6.5%4/17/202911.7  11.7  12.6  — %
Disability Resolution1619 Malon Bay Dr, Orlando, FL 32828Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%4/30/20292.8  2.8  3.0  — %
NYM Solutions Inc.1250 NW 7th St. Ste 201, Miami, FL 33125Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%5/6/202911.8  11.8  12.8  — %
123
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Crystal Cleaning Service 26 Cooper Rd, Byhalia, MS 38611Administrative and Support ServicesTerm LoanPrime plus 6.5%5/9/20299.4  9.4  10.2  — %
Clowers Trucking by Faith LLC705 E Brookwood PL, Valdosta, GA 31601Truck TransportationTerm LoanPrime plus 6.5%5/23/202911.6  11.6  12.6  — %
MCM Design LLC5926 Vinings Vintage Way, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/23/20299.4  9.4  10.2  — %
Still Photography195 Terrace Place, Apt. 2, Brooklyn, NY 11218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/6/202911.8  11.8  12.8  — %
Archer Cleaners Inc.1514 W. 33rd St., Chicago, IL 60608Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/10/202911.8  11.8  12.8  — %
Law Office of Paula Padilla PLLC2211 E Highland Ave Ste 130, Phoenix, AZ 85016Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/13/20294.7  4.7  5.1  — %
Bonadi Inc.9858 W Sample Rd, Coral Springs, FL 33065Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/17/202911.8  11.8  12.8  — %
AA Horseplay, LLC34565 Ranch Dr, Brownsville, OR 97327Animal Production and AquacultureTerm LoanPrime plus 6.5%6/20/202911.8  11.8  12.8  — %
Campuscuts LLC930 Robtrice Ct, Edmond, OK 73430Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/21/20297.1  7.1  7.7  — %
Port Diesel LLC3212 Alex Trask Dr, Castle Hayne, NC 28429Repair and MaintenanceTerm LoanPrime plus 6.5%6/21/202911.8  11.8  12.8  — %
Menshka Inc.88 High St., Mountclair, NJ 07042Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%7/10/202911.9  11.9  13.0  — %
The Bean Coffee Company, LLC112 South Main St., Spring Hill, KS 66083Food Services and Drinking PlacesTerm LoanPrime plus 6.5%7/17/202911.9  11.9  13.0  — %
Lawrence Adeyemo & Co LLC209-34 112 Ave, Queens Village, NY 11429Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%7/19/20299.5  9.5  10.4  — %
Gradstreet LLC2437 Corinth Ave Apt 130, Los Angeles, CA 90064Nonstore RetailersTerm LoanPrime plus 6.5%7/30/202911.9  11.9  13.0  — %
A&S Services LLC3888 Lightner Rd, Vandalia, OH 45377Food Services and Drinking PlacesTerm LoanPrime plus 6.5%8/7/202911.9  11.9  13.0  — %
Crystal Clear Accounting34099 Tuscan Creek Way, Temecula, CA 92592Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/26/20293.1  3.1  3.4  — %
Doghouse Sport Fishing Charters Inc.83413 Overseas Highway, Islamorada, FL 33036Scenic and Sightseeing TransportationTerm LoanPrime plus 6.5%8/30/202911.9  11.9  13.1  — %
No Push Back LLC2223 Dungan Ave, Bensalem, PA 19020Personal and Laundry ServicesTerm LoanPrime plus 6.5%8/30/202911.6  11.6  12.7  — %
Softcare247 LLC4191 Naco Perrin Blvd, San Antonio, TX 78217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/11/202912.0  12.0  13.2  — %
Host Marketing LLC206 Bell Lane, Ste B, West Monroe, LA 71291Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/18/202912.0  12.0  13.2  — %
Standard Real Estate Services LLC500 West Silver Spring Dr, Ste K 200,, Glendale, WI 53217Real EstateTerm LoanPrime plus 6.5%9/19/202912.0  12.0  13.2  — %
Bargain Store107 Tabernacle Church Rd, Candor, NC 27229General Merchandise StoresTerm LoanPrime plus 6.5%10/11/202912.1  12.1  13.3  — %
124
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Powerlift Dumbwaiters Inc.2444 Georgia Slide Rd, Georgetown, CA 95634Machinery ManufacturingTerm LoanPrime plus 6.5%10/16/202911.9  11.9  13.1  — %
Pine Mountain Residential LLC10240 Cosmopolitan Circle, Parker, CO 80134Specialty Trade ContractorsTerm LoanPrime plus 6.5%10/16/202912.1  12.1  13.3  — %
James Clark and Company Inc.8885 Haven Ave, Ste 120, Rancho Cucamonga, CA 91730Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%10/22/202912.1  12.1  13.3  — %
Deer Valley Sport Shop LLC507 Bamboo Rd, Boone, NC 28607Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 6.5%11/7/202912.1  12.1  13.4  — %
Sean McNamara5639 Wood Lane, Allentown, PA 18106Nonstore RetailersTerm LoanPrime plus 6.5%11/14/202912.1  12.1  13.4  — %
Bucklin Sumner & Associates650 NE Holladay St. Ste 1600, Portland, OR 97232Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 6.5%11/14/202912.1  12.1  13.4  — %
The Pinnacle Group105 Springside Dr, Akron, OH 44333Social AssistanceTerm LoanPrime plus 6.5%11/14/202912.1  12.1  13.4  — %
Pen’s Electric Company, Inc504 Fairfax Ave, Nashville, TN 37212Specialty Trade ContractorsTerm LoanPrime plus 6.5%11/21/202912.1  12.1  13.4  — %
Standard Capital Corp. 2377 Wessington Dr, Virginia Beach, VA 23456Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%12/5/202912.2  12.2  13.4  — %
Scott’s Hardware Inc200 Tuckerton Rd, Medford, NJ 08055Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 6.5%12/6/202912.2  12.2  13.4  — %
HADD Corp364 Rugby Rd, Cedarhurst, NY 11516Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/17/202912.2  12.2  13.4  — %
La Tradicion Cubana Inc.1336 SW 8th St., Miami, FL 33135Miscellaneous Store RetailersTerm LoanPrime plus 6.5%12/20/202912.2  12.2  13.5  — %
This is a Fly Closet LLC  12408 Kingsview St., Bowie, MD 20721Clothing and Clothing Accessories StoresTerm LoanPrime plus 6.5%1/30/203012.3  12.3  13.5  — %
2 N 1 Home and Lawn LLC1300 Ridenour Boulevard, Kennesaw, GA 30152Administrative and Support ServicesTerm LoanPrime plus 6.5%2/3/203012.3  12.3  13.6  — %
All Modes Transportation and Logistics4313 Collingtree Dr, Rockledge, FL 32955Support Activities for TransportationTerm LoanPrime plus 6.5%2/14/203012.3  12.3  13.6  — %
Icebox Café 219 NE 3rd St., Hallendale Beach, FL 33009Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/26/20301,292.3  1,292.3  1,429.3  0.44 %
Kanga Lean3139 Little Rd Space A-5, Trinity, FL 34655Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/16/2030176.3  176.3  195.2  0.06 %
IV Purpose Inc.1489 Fulton St., Brooklyn, NY 11216Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/25/2029114.5  114.5  126.6  0.04 %
Oak Park Social14691 W 11 Mile Rd, Oak Park, MI 48237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/12/2045407.6  407.6  462.1  0.14 %
Moon Group, Inc.145 Moon Rd, Chesapeake City, MD 21915Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%6/27/20293,508.3  3,508.3  3,787.1  1.16 %
Beau & HB Inc. dba Beau’s Billard, Bowling & Arcade100 Village Rd, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/16/2029114.5  114.5  125.4  0.04 %
125
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Hackstaff Restaurants 248 W 1st. St. Ste 201, Reno, NV 89501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/2029435.1  435.1  476.5  0.15 %
Coral Springs Family Wellness LLC 2902 North University Dr, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/21/2030362.0  362.0  400.2  0.12 %
National Stone Management804-810 W Shady Grove Rd, Grand Prairie, TX 75050Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%8/31/2044810.1  810.1  895.2  0.27 %
LuluBelle's Mountain Banana Bread LLC 1063 Carousel Rd, Lake Arrowhead, CA 92352Food ManufacturingTerm LoanPrime plus 2.75%4/21/2045545.3  545.3  616.9  0.19 %
Love Playing LLC2200 Eastridge Loop, San Jose, CA 95122Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/9/2030461.7  461.7  511.3  0.16 %
AJN Innocations LLC 6704 Main St., Miami Lakes, FL 33014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/15/2030190.2  190.2  210.6  0.06 %
The Cow Harbor Beer Company19 Scudder Ave, Northport, NY 11768Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%7/11/2030750.6  750.6  831.3  0.25 %
NJ Floats327 Route 202/206, Bedminster Township, NJ 07921Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%5/12/2045282.4  282.4  320.2  0.10 %
Kuros LLC dba Alexander Lake Lodge 21221 Baron Lake Dr, Cedaredge, CO 81413AccommodationTerm LoanPrime plus 2.75%3/19/204537.6  37.6  42.6  0.01 %
Emmalina LLC 3602 Rock Bay Dr, Louisville, KY 40245Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/21/203037.8  37.8  41.8  0.01 %
Daftarnow Inc.8 Campus Dr. Ste 105, Parsippany, NJ 07054Real EstateTerm LoanPrime plus 2.75%7/30/2030252.1  252.1  279.2  0.09 %
Sherwood Sporthorses Inc. 20502 Forestview, Magnolia, TX 77355Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/21/2045413.4  413.4  468.7  0.14 %
Chet Lemon Enterprises1544 Lane Park Cut off, Tavares, FL 32778Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/3/2030320.2  320.2  354.6  0.11 %
Jones Roger Shermann Inn Inc.195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/4/203086.3  86.3  95.5  0.03 %
Native Fields Landscaping LLC 73 Taylor Rd, Wharton, NJ 07885Administrative and Support ServicesTerm LoanPrime plus 2.75%11/13/20451,162.9  1,162.9  1,317.0  0.40 %
American Pharmaceutical Innovation Company, LLC1425 Centre Circle, Downers Grove, IL 60515Chemical ManufacturingTerm LoanPrime plus 2.75%3/28/202748.3  48.3  48.3  0.01 %
Edel Family Management Corp2207 Coney Island Ave, Brooklyn, NY 11223PPPTerm Loan1.0%4/30/202239.2  39.2  39.2  0.01 %
The Rabbi Grafman Endowment Fund for Temple Emanu-El2100 Highland Ave South, Birmingham, AL 35205PPPTerm Loan1.0%4/30/20223.0  3.0  3.0  — %
Surf Cup Sports2037 Park Dale Ln, Encinitas, CA 92024PPPTerm Loan1.0%4/30/202219.0  19.0  19.0  0.01 %
AM House22322 Burton St, Canoga Park, CA 91304PPPTerm Loan1.0%4/30/20227.7  7.7  7.7  — %
Eat Here LLC500 S Main St, Las Vegas, NV 89101PPPTerm Loan1.0%4/30/20224.8  4.8  4.8  — %
126
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Masood A. Rizvi, MD.900 Pompton Ave, Ste B-1, Cedar Grove, NJ 07009PPPTerm Loan1.0%4/30/20223.8  3.8  3.8  — %
Casetabs3333 Michelson Dr, Ste 240, Irvine, CA 92612PPPTerm Loan1.0%4/30/202238.5  38.5  38.5  0.01 %
James D. Paliwoda, A Law Corporation1000 Lakes Dr, Ste 230, West Covina, CA 91790PPPTerm Loan1.0%4/30/202212.3  12.3  12.3  — %
Medical Review Service13400 Marsh Landing, West Palm Beach, FL 33418PPPTerm Loan1.0%4/30/202231.3  31.3  31.3  0.01 %
North Carolina Custom Modulars, LLC1936 US-64, Murphy, NC 27203PPPTerm Loan1.0%4/30/20227.8  7.8  7.8  — %
Thrive TC LLC4888 Town Center Pkwy, Ste 106, Jacksonville, FL 32246PPPTerm Loan1.0%5/4/20225.5  5.5  5.5  — %
Kenco Inc774 Mays Blvd, Ste 10-574, Incline Village, NV 89451PPPTerm Loan1.0%5/4/20222.4  2.4  2.4  — %
Glynwood Center, Inc.362 Glynwood Rd, Cold Spring, NY 10516PPPTerm Loan1.0%5/4/202230.3  30.3  30.3  0.01 %
San Basilio, LLC12305 SW 38th St., Ocala, FL 34481PPPTerm Loan1.0%5/4/20222.5  2.5  2.5  — %
Stephen Binder DDS3900 W Fullerton Ave, Chicago, IL 60647PPPTerm Loan1.0%5/4/20223.0  3.0  3.0  — %
Mto Summerlin10970 Rosemary Park Dr, Ste #100, Las Vegas, NV 89135PPPTerm Loan1.0%5/4/20224.8  4.8  4.8  — %
Asthma & Allergy Medical Care, P.C.68 Nassau Rd, Huntington, NY 11743PPPTerm Loan1.0%5/4/202216.1  16.1  16.1  — %
SK8CLICK INC17062 Westport Dr, Huntington Beach, CA 92649PPPTerm Loan1.0%5/4/20221.9  1.9  1.9  — %
Provino's South, Inc.14485 Hopewell Rd, Alpharetta, GA 30004PPPTerm Loan1.0%5/5/202218.2  18.2  18.2  0.01 %
Kore Surgical Inc26636 Fond Du Lac Rd, Rancho Palos Verdes, CA 90275PPPTerm Loan1.0%5/5/20228.0  8.0  8.0  — %
Buddy's Towing830 Birch St, Daytona Beach, FL 32117PPPTerm Loan1.0%5/5/20224.0  4.0  4.0  — %
EON.AI LLC3401 North Miami Ave, Ste 211, Miami, FL 33127PPPTerm Loan1.0%5/5/20222.5  2.5  2.5  — %
Superior Property Solutions7009 E Country Highlands Dr, Floral City, FL 34436PPPTerm Loan1.0%5/5/20222.5  2.5  2.5  — %
WHO Insurance Agency Inc708 6th Ave SE #A, Decatur, AL 35601PPPTerm Loan1.0%5/5/20220.9  0.9  0.9  — %
Ventum LLC2775 South Highway 40, Ste 4, Heber City, UT 84032PPPTerm Loan1.0%5/5/20228.1  8.1  8.1  — %
MacLeod and Company3161 Michelson Dr, Irvine, CA 92612PPPTerm Loan1.0%5/5/20227.5  7.5  7.5  — %
127
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Dance Daly Studio, LLC24000 Alicia Parkway, #33, Mission Viejo, CA 92691PPPTerm Loan1.0%5/5/20225.2  5.2  5.2  — %
Julius Schwarz LLC50 Pascack Rd, Hillsdale, NJ 07642PPPTerm Loan1.0%5/5/20224.0  4.0  4.0  — %
West & East Art Group9 N Moore St, New York, NY 10013PPPTerm Loan1.0%5/5/20223.3  3.3  3.3  — %
Soudan Metals Co319 W 40th Pl, Chicago, IL 60609PPPTerm Loan1.0%5/5/202264.3  64.3  64.3  0.02 %
American Showcase Modulars, LLC6281 US-29, Blairs, VA 24527PPPTerm Loan1.0%5/5/20226.7  6.7  6.7  — %
Swirnow Capital Management Corp500 Harborview Dr, Third Floor, Baltimore, MD 21230PPPTerm Loan1.0%5/5/202210.0  10.0  10.0  — %
acaso master fund llc6710 Benjamin Rd, Ste 100, Tampa, FL 33634PPPTerm Loan1.0%5/6/20220.7  0.7  0.7  — %
GMS Racing LLC1980 Festival Plaza Dr, Ste 770, Las Vegas, NV 89135PPPTerm Loan1.0%5/6/2022130.0  130.0  130.0  0.04 %
D Bober LLC dba the Public Private Network445 Hamilton Ave, Ste 1102, White Plains, NY 10601PPPTerm Loan1.0%5/6/20222.8  2.8  2.8  — %
Ntrepid LLC12801 Worldgate Dr, Ste 800, Herndon, VA 20170PPPTerm Loan1.0%5/6/2022720.2  720.2  720.2  0.22 %
South Bay Cable54125 Maranatha Dr, Idyllwild, CA 92549PPPTerm Loan1.0%5/6/202280.4  80.4  80.4  0.02 %
Basic L Corporation dba Action Industries1120 Olympic Dr, Corona, CA 92881PPPTerm Loan1.0%5/7/202243.1  43.1  43.1  0.01 %
Fernway Solutions Inc.34 Tidal Way, San Mateo, CA 94401PPPTerm Loan1.0%5/7/20223.8  3.8  3.8  — %
KJM Medical, LLC3012 Pinehurst Dr., Montgomery, AL 36111PPPTerm Loan1.0%5/7/20221.0  1.0  1.0  — %
Nolan Construction10 Fairway Dr, Deerfield Beach, FL 33441PPPTerm Loan1.0%5/7/20222.1  2.1  2.1  — %
Care Values, Inc.1905 Woodstock Rd, Ste 1250, Roswell, GA 30075PPPTerm Loan1.0%5/7/202214.1  14.1  14.1  — %
Fried Chicken Kitchen LLC1750 Market St, San Francisco, CA 94102PPPTerm Loan1.0%5/7/202242.7  42.7  42.7  0.01 %
Playback, Inc.17 Ridge Ave, Natick, MA 01760PPPTerm Loan1.0%5/7/20224.7  4.7  4.7  — %
Conglomerated Hosts, LTD14485 Hopewell Rd, Alpharetta, GA 30004PPPTerm Loan1.0%5/8/202212.7  12.7  12.7  — %
David A Beach, DMD, MS, PA27605 Cashford Circle, Ste 101, Wesley Chapel, FL 33544PPPTerm Loan1.0%5/8/20226.6  6.6  6.6  — %
Fleming Island Dental Care1590 Island Ln, Ste 12, Fleming Island, FL 32003PPPTerm Loan1.0%5/8/20226.9  6.9  6.9  — %
Dominion Glass & Mirror Inc.14707-B Willard Rd, Chantilly, VA 20151PPPTerm Loan1.0%5/8/202220.4  20.4  20.4  0.01 %
128
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Allergy & Asthma Associates of Murray Hill, P.C.35 E 35th St, Ste 202, New York, NY 10016PPPTerm Loan1.0%5/8/202217.1  17.1  17.1  0.01 %
Jeff O. Gonzalez, M.D., P.A.2140 W 68th St, Ste 300, Hialeah, FL 33016PPPTerm Loan1.0%5/11/20222.1  2.1  2.1  — %
J.P. Makhlouf, M.D., F.A.A.P., & Tiziana Anello, M.D., F.A.A.P., P.A. d/b/a Roseland Pediatrics556 Eagle Rock Ave, Ste 106, Roseland, NJ 07068PPPTerm Loan1.0%5/11/202212.8  12.8  12.8  — %
Sweet Dreams480 Mondi Dr, Woodstock, GA 30188PPPTerm Loan1.0%5/11/20225.0  5.0  5.0  — %
Legg's Welding Inc.5871 Clay highway, Bickmore, WV 25019PPPTerm Loan1.0%5/11/20229.5  9.5  9.5  — %
Drobu Media1010 Brickell Ave Unit 4105, Miami, FL 33131PPPTerm Loan1.0%5/11/20222.1  2.1  2.1  — %
Urban Clarity13 S Elliott Pl, Brooklyn, NY 11217PPPTerm Loan1.0%5/11/20222.1  2.1  2.1  — %
Scott Zucker P.A.633 S Andrews Ave, #203, Fort Lauderdale, FL 33301PPPTerm Loan1.0%5/11/20221.0  1.0  1.0  — %
Landmark IV Realty Inc.3990 Sheridan St, Ste 105, Hollywood, FL 33021PPPTerm Loan1.0%5/11/20220.9  0.9  0.9  — %
Leader, Leader & Zucker, PLLC633 S Andrews Ave, #201, Fort Lauderdale, FL 33301PPPTerm Loan1.0%5/11/20225.0  5.0  5.0  — %
Therapeutic Equestrian Center Inc115 Stonecrop Lane, Cold Spring, NY 10516PPPTerm Loan1.0%5/11/20226.5  6.5  6.5  — %
Rodney and Bernstein P.A.1925 Brickell Ave, Ste D-207, Miami, FL 33129PPPTerm Loan1.0%5/11/202217.1  17.1  17.1  0.01 %
Tyler Pidgeon Sole Proprietor10200 Sporting Club Dr, Raleigh, NC 27617PPPTerm Loan1.0%5/11/20220.9  0.9  0.9  — %
Altea Group LLC4510 Cheltenham Dr, Bethesda, MD 20814PPPTerm Loan1.0%5/12/20221.2  1.2  1.2  — %
Temple Emanu-El2100 Highland Ave, Birmingham, AL 35205PPPTerm Loan1.0%5/12/202228.0  28.0  28.0  0.01 %
American Automotive Aftermarket Inc.50 Dunham Rd, Billerica, MA 01821PPPTerm Loan1.0%5/12/202222.0  22.0  22.0  0.01 %
Stanton Schwartz Design Group LLC346 Congress St, #201, Boston, MA 02210PPPTerm Loan1.0%5/12/20220.6  0.6  0.6  — %
Ernst Architect, PLLC177 W Broadway, 3rd Floor, New York, NY 10013PPPTerm Loan1.0%5/12/202217.6  17.6  17.6  0.01 %
Dental Designs of Fort Myers, LLC3220 Forum Blvd, #104, Fort Myers, FL 33905PPPTerm Loan1.0%5/12/202234.8  34.8  34.8  0.01 %
RX Psychological Services, LLC5300 McNutt Rd, Ste 12, Santa Teresa, NM 88008PPPTerm Loan1.0%5/12/20222.1  2.1  2.1  — %
KKAP El Sereno Laundry, LLC4899 Huntington Dr North, Los Angeles, CA 90032PPPTerm Loan1.0%5/12/20221.8  1.8  1.8  — %
129
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
KTF Consulting2471 N Geneva Terrace, Chicago, IL 60614PPPTerm Loan1.0%5/12/20223.3  3.3  3.3  — %
HL Group Inc.16690 Swingley Ridge Rd, Ste 100, Chesterfield, MO 63017PPPTerm Loan1.0%5/13/202216.0  16.0  16.0  — %
Child Welfare League of America Inc.727 15th St NW, Ste 1200, Washington, DC 20005PPPTerm Loan1.0%5/13/202220.0  20.0  20.0  0.01 %
Gray Global Advisors, LLC300 New Jersey Ave NW, 9th Floor, Washington, DC 20001PPPTerm Loan1.0%5/13/20228.1  8.1  8.1  — %
OrtenB Software519 Lori Dr, Benicia, CA 94510PPPTerm Loan1.0%5/13/20220.8  0.8  0.8  — %
Z Valet, Inc.4221 Wilshire blvd, Ste 170-11, Los Angeles, CA 90010PPPTerm Loan1.0%5/13/202233.9  33.9  33.9  0.01 %
Quality Pool Management161 Rombout Rd, Poughkeepsie, NY 12603PPPTerm Loan1.0%5/13/20226.4  6.4  6.4  — %
Weisner Steel Products77 Moraga Way, Ste F, Orinda, CA 94563PPPTerm Loan1.0%5/13/202224.2  24.2  24.2  0.01 %
Myrna Casta1801 Century Park E, Ste 1100, Los Angeles, CA 90067PPPTerm Loan1.0%5/13/20221.8  1.8  1.8  — %
Fairview Ford Sales, Inc.292 N G St, San Bernardino, CA 92410PPPTerm Loan1.0%5/13/2022143.9  143.9  143.9  0.04 %
Deep Ellum Art Co.3200 Commerce St, Dallas, TX 75226PPPTerm Loan1.0%5/14/20228.0  8.0  8.0  — %
Stress Analysis Services, Inc.3920 Ira Rd, Akron, OH 44333PPPTerm Loan1.0%5/14/202219.0  19.0  19.0  0.01 %
Sun Cloud Holdings LLC65 Hemlock Ln, Highland Park, IL 60035PPPTerm Loan1.0%5/14/20220.8  0.8  0.8  — %
Retrotope, Inc.4300 El Camino Real, Ste 201, Los Altos, CA 94022PPPTerm Loan1.0%5/14/202228.3  28.3  28.3  0.01 %
Mastermind Alliance Wealth Solutions Inc.5271 Arnica Way, Santa Rosa, CA 95403PPPTerm Loan1.0%5/14/20222.0  2.0  2.0  — %
Ashford AFH15527 Burke Ave N, Shoreline, WA 98133PPPTerm Loan1.0%5/14/202217.3  17.3  17.3  0.01 %
Meredith Ward Fine Art, Inc.44 East 74th St., Ste G, New York, NY 10021PPPTerm Loan1.0%5/14/20223.2  3.2  3.2  — %
Tuckahoe Animal Hospital PLLC20 Depot Square, Tuckahoe, NY 10707PPPTerm Loan1.0%5/14/202214.0  14.0  14.0  — %
Melbourne United Laser Vision1478 Highland Ave, Ste A, Melbourne, FL 32935PPPTerm Loan1.0%5/14/20227.6  7.6  7.6  — %
Martin Medical Group4422 N 75th St, Unit 4012, Scottsdale, AZ 85251PPPTerm Loan1.0%5/14/20221.7  1.7  1.7  — %
Dalva Bros Inc.53 E 77th St, New York, NY 10075PPPTerm Loan1.0%5/14/20228.5  8.5  8.5  — %
130
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
D. R. Horne & Company117 Mercer St., Princeton, NJ 08540PPPTerm Loan1.0%5/14/20224.1  4.1  4.1  — %
Uniglobal Pension Planning, Inc.4114 Legato Rd, Ste 300, Fairfax, VA 22033PPPTerm Loan1.0%5/15/202214.4  14.4  14.4  — %
Dominic Orfitelli, LLC7101 Elizabeth Dr, McLean, VA 22101PPPTerm Loan1.0%5/15/20223.1  3.1  3.1  — %
James Hundshamer CPA223 S Glendora Ave, Glendora, CA 91741PPPTerm Loan1.0%5/15/20227.0  7.0  7.0  — %
Grossman LLP745 5th Ave, Ste 500, New York, NY 10151PPPTerm Loan1.0%5/15/20227.1  7.1  7.1  — %
Temecula Hot Yoga, LLC DBA Hot Yoga Healthy You31773 Temecula Pkwy, Temecula, CA 92592PPPTerm Loan1.0%5/15/20221.7  1.7  1.7  — %
Alpine Metal Products, Inc.2000 St John St, Easton, PA 18042PPPTerm Loan1.0%5/15/202225.0  25.0  25.0  0.01 %
Ranco Construction LLC2 Coleman Ct, Southampton, NJ 08088PPPTerm Loan1.0%5/15/202252.9  52.9  52.9  0.02 %
Rumi K. Lakha D.O., Inc.7136 Pacific Blvd, Ste 225, Huntington Park, CA 90255PPPTerm Loan1.0%5/15/202221.7  21.7  21.7  0.01 %
Chatham Pathology and Associates5353 Reynolds St, Savannah, GA 31405PPPTerm Loan1.0%5/15/202216.8  16.8  16.8  0.01 %
Kevin C. McWilliams225 W 35th St 14th Floor, New York, NY 10001PPPTerm Loan1.0%5/15/20223.0  3.0  3.0  — %
Timothy G Greco, MD A Prof Corp1260 Crestview Dr, Fullerton, CA 92833PPPTerm Loan1.0%5/15/20223.4  3.4  3.4  — %
F T Brooks Inc.1206 Powhatan St., Alexandria, VA 22314PPPTerm Loan1.0%5/15/20222.1  2.1  2.1  — %
3 Options Consulting2215 Palmer Pl, Tustin, CA 92782PPPTerm Loan1.0%5/15/20224.9  4.9  4.9  — %
Marti E. Peck PhD3990 Old Town Ave, Ste B100, San Diego, CA 92110PPPTerm Loan1.0%5/15/20222.3  2.3  2.3  — %
Brookhollow Management Company151 Kalmus Dr, F-1, Costa Mesa, CA 92626PPPTerm Loan1.0%5/15/202230.6  30.6  30.6  0.01 %
Mayer Fayes18800 NE 29th Ave, Apt 114, Aventura, FL 33180PPPTerm Loan1.0%5/15/20220.6  0.6  0.6  — %
Richard C. Watts, Inc.1602 E 4th St, Santa Ana, CA 92701PPPTerm Loan1.0%5/18/20226.1  6.1  6.1  — %
Paradise Shutters Inc4353 Canton CT, Gulf Breeze, FL 32563PPPTerm Loan1.0%5/18/20222.4  2.4  2.4  — %
M&A Services320 East 53rd St., New York, NY 10022PPPTerm Loan1.0%5/18/202212.6  12.6  12.6  — %
BEACHES JET SET PETS INC949 12th Ave South, Jacksonville Beach, FL 32250PPPTerm Loan1.0%5/18/20229.5  9.5  9.5  — %
Hotel Cheval, LLC1021 Pine St, Paso Robles, CA 93446PPPTerm Loan1.0%5/18/202217.5  17.5  17.5  0.01 %
131
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Kohcoon LLC4060 Woodridge Rd, Miami, FL 33133PPPTerm Loan1.0%5/18/20222.9  2.9  2.9  — %
Leader & Leader P.A.633 S Andrews Ave, #201, Fort Lauderdale, FL 33301PPPTerm Loan1.0%5/18/20222.3  2.3  2.3  — %
Michael J Scherb DMD PA2143 South Us Highway 1, Jupiter, FL 33477PPPTerm Loan1.0%5/18/202214.2  14.2  14.2  — %
McGee Media LLC156 Katonah Ave, Ste #202, Katonah, NY 10536PPPTerm Loan1.0%5/18/2022106.0  106.0  106.0  0.03 %
te Neues Publishing Company LP350 7th Ave, Ste 301, New York, NY 10001PPPTerm Loan1.0%5/18/202212.1  12.1  12.1  — %
South City Construction1111 Rancho Conejo Blvd, #205, Newbury Park, CA 91320PPPTerm Loan1.0%5/18/202224.0  24.0  24.0  0.01 %
Elixir Corporation305 Shawnee North Dr, Ste 250, Suwanee, GA 30024PPPTerm Loan1.0%5/18/202211.3  11.3  11.3  — %
Olivenhain Capital Partners3521 Fortuna Ranch Rd, Encinitas, CA 92024PPPTerm Loan1.0%5/18/20225.4  5.4  5.4  — %
Roselle-Stacy, Inc.204 Sinclair Pl, Westfield, NJ 07090PPPTerm Loan1.0%5/18/20221.3  1.3  1.3  — %
Lisa Stransky Real Estate LLC10000 Falls Rd, Ste 300, Potomac, MD 20854PPPTerm Loan1.0%5/18/20224.7  4.7  4.7  — %
JLR Realty Inc119 Circle Dr, Manhasset, NY 11030PPPTerm Loan1.0%5/18/20223.1  3.1  3.1  — %
Aldene Industrial Park204 Sinclair Pl, Westfield, NJ 07090PPPTerm Loan1.0%5/18/20222.2  2.2  2.2  — %
Doctors Despensary, LLC6351 Vireo Ct, Lake Worth, FL 33463PPPTerm Loan1.0%5/18/20221.6  1.6  1.6  — %
Yu-Song Yen DDS5222 Balboa Ave, Ste 71, San Diego, CA 92117PPPTerm Loan1.0%5/18/20223.3  3.3  3.3  — %
Wheelhouse Life Science Advisors927 Regalo Way, San Ramon, CA 94583PPPTerm Loan1.0%5/18/202211.6  11.6  11.6  — %
Keldon Paper Company5960 Boxford Ave, Commerce, CA 90040PPPTerm Loan1.0%5/19/202211.9  11.9  11.9  — %
Mark E Goldberg, esq.130 North Main St., Port Chester, NY 10573PPPTerm Loan1.0%5/19/20222.1  2.1  2.1  — %
John Woody Inc.754 Harrison St, Jacksonville, FL 32220PPPTerm Loan1.0%5/19/202227.6  27.6  27.6  0.01 %
Chophouse 1311362 San Jose Blvd, Ste 1, Jacksonville, FL 32223PPPTerm Loan1.0%5/19/202220.4  20.4  20.4  0.01 %
Shorstein & Shorstein PA8265 Bayberry Rd, Jacksonville, FL 32256PPPTerm Loan1.0%5/19/202242.3  42.3  42.3  0.01 %
Doctors Medical Center of Walton County, PA21 W Main Ave, Defuniak Springs, FL 32435PPPTerm Loan1.0%5/19/202221.9  21.9  21.9  0.01 %
Stephen Wang & Associates950 3rd Ave, New York, NY 10022PPPTerm Loan1.0%5/19/202212.5  12.5  12.5  — %
132
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Mecca Resources Inc3033 Riviera Dr, Ste 101, Naples, FL 34103PPPTerm Loan1.0%5/19/20226.3  6.3  6.3  — %
Susan Surell26 Diamond Crest Ct, Baltimore, MD 21209PPPTerm Loan1.0%5/19/20221.0  1.0  1.0  — %
SHAWN KASSMAN ESQ., P.C.110 Carleton Ave, Central Islip, NY 11722PPPTerm Loan1.0%5/19/20221.8  1.8  1.8  — %
Sybil Hill1479 Mossy Branch Way, Mt Pleasant, SC 29464PPPTerm Loan1.0%5/19/20220.8  0.8  0.8  — %
Felica Zwebner Design LLC115 W 29th St, New York, NY 10001PPPTerm Loan1.0%5/19/20220.8  0.8  0.8  — %
Robert Giarrusso9 Sabine Lane, Hardyston, NJ 07416PPPTerm Loan1.0%5/19/20220.6  0.6  0.6  — %
Susan Iannelli26 Court St, Ste 1805, Brooklyn, NY 11242PPPTerm Loan1.0%5/19/20221.0  1.0  1.0  — %
Sharrets, Paley, Carter & Blauvelt, PC75 Broad St, New York, NY 10004PPPTerm Loan1.0%5/19/202213.8  13.8  13.8  — %
CCG Advisors817 W Peachtree St., Ste 205, Atlanta, GA 30308PPPTerm Loan1.0%5/19/202221.5  21.5  21.5  0.01 %
The Croft Offshore, LLC1030 Bayside Ln, Weston, FL 33326PPPTerm Loan1.0%5/19/20221.3  1.3  1.3  — %
ABRAHAM J DANIEL18851 NE 29th Ave, #700, Aventura, FL 33180PPPTerm Loan1.0%5/19/20222.1  2.1  2.1  — %
Sodales Partners LLC11 Random Farms Circle, Chappaqua, NY 10514PPPTerm Loan1.0%5/19/20221.5  1.5  1.5  — %
Mark Allen & Company, LLC450 W 17th St, Unit 738, New York, NY 10011PPPTerm Loan1.0%5/19/20222.2  2.2  2.2  — %
Susan Giarrusso9 Sabine Ln, Franklin, NJ 07416PPPTerm Loan1.0%5/19/20220.3  0.3  0.3  — %
SA Legends Lacrosse LLC1011 Rancho Conejo Blvd, Newbury Park, CA 91320PPPTerm Loan1.0%5/19/202210.1  10.1  10.1  — %
Laura Billon1286 El Mercado Way,, Unit C, Oceanside, CA 92057PPPTerm Loan1.0%5/19/20220.1  0.1  0.1  — %
Serge Loobkoff215 S Santa Fe Ave, Ste 15, Los Angeles, CA 90012PPPTerm Loan1.0%5/19/20220.2  0.2  0.2  — %
Florida Premier Cardiology LLC11195 Jog Rd, Ste 6, Boynton Beach, FL 33437PPPTerm Loan1.0%5/19/20228.0  8.0  8.0  — %
Specialty Coverage Insurance Agency (SPCIA)1 Water St, 2nd Floor, Mystic, CT 06355PPPTerm Loan1.0%5/20/20223.2  3.2  3.2  — %
Gregory A. Ebenfeld PA11011 Sheridan St, Ste 113, Hollywood, FL 33026PPPTerm Loan1.0%5/20/20222.2  2.2  2.2  — %
Caveonix7777 Leesburg Pike, Ste 303 South, Falls Church, VA 22043PPPTerm Loan1.0%5/20/202231.0  31.0  31.0  0.01 %
Seamus Henchy and Associates145 Hudson St, New York, NY 10013PPPTerm Loan1.0%5/20/202210.0  10.0  10.0  — %
133
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Drink Here LLC6410 S DURANGO DR, Ste 100, Las Vegas, NV 89113PPPTerm Loan1.0%5/20/20224.6  4.6  4.6  — %
Sunren International, LLC1141 Orange Ave, Monrovia, CA 91016PPPTerm Loan1.0%5/20/20224.2  4.2  4.2  — %
Melanie L Kemmerer, DMD, PLLC110 SW Suwannee Ave, Branford, FL 32008PPPTerm Loan1.0%5/20/20222.9  2.9  2.9  — %
Sierra Music Publications, Inc.2711 N Idaho Rd, Liberty Lake, WA 99019PPPTerm Loan1.0%5/20/20221.6  1.6  1.6  — %
AllianceRad LLC425 N Ocean Blvd, Unit 4, Boca Raton, FL 33432PPPTerm Loan1.0%5/20/20222.1  2.1  2.1  — %
Testicular Cancer Commons5415 SW 149th Ave, Beaverton, OR 97007PPPTerm Loan1.0%5/20/20221.0  1.0  1.0  — %
Krista Saloom7210 Corporate Ct, Frederick, MD 21703PPPTerm Loan1.0%5/20/20221.3  1.3  1.3  — %
GARDEN LTC LLC10 EVANS Dr, BROOKVILLE, NY 11545PPPTerm Loan1.0%5/20/20221.3  1.3  1.3  — %
DIXIE CONTRACT CARPET INC7523 PHILIPS HIGHWAY, Jacksonville, FL 32256PPPTerm Loan1.0%5/20/202242.9  42.9  42.9  0.01 %
KKAP Reseda Laundry LLC18300 Vanowen St, Unit #5, Reseda, CA 91335PPPTerm Loan1.0%5/20/20220.4  0.4  0.4  — %
RTP Corp.2832 Center Port Cir, Pompano Beach, FL 33064PPPTerm Loan1.0%5/20/202239.2  39.2  39.2  0.01 %
KKAP Van Nuys Laundry, LLC16105 Victory Blvd, Unit 9I, Van Nuys, CA 91406PPPTerm Loan1.0%5/20/20220.8  0.8  0.8  — %
Brandy Cox, Inc11818 Cupworth Ct, Huntersville, NC 28078PPPTerm Loan1.0%5/20/20220.8  0.8  0.8  — %
Steven R Wynn Othidonics1901 Westcliff Dr, Ste #1, Newport Beach, CA 92660PPPTerm Loan1.0%5/20/20222.5  2.5  2.5  — %
Mark E Haddad MD IncPO Box 791507, Paia, HI 96779PPPTerm Loan1.0%5/20/20221.5  1.5  1.5  — %
The Duncraggen Realty Corp708 W 192nd St, Ste 1K, New York, NY 10040PPPTerm Loan1.0%5/20/20220.8  0.8  0.8  — %
Direct Resources Group1520 4th Ave, Ste 500, Seattle, WA 98101PPPTerm Loan1.0%5/21/202231.3  31.3  31.3  0.01 %
Patricia Margolin551 Spring Valley Rd, Paramus, NJ 07652PPPTerm Loan1.0%5/21/20220.9  0.9  0.9  — %
Herion Productions LLC95 Thomas Rd, Valatie, NY 12184PPPTerm Loan1.0%5/21/20221.2  1.2  1.2  — %
Fernando Suarez Physical Therapy, PLLC72-15 Grand Ave, Maspeth, NY 11378PPPTerm Loan1.0%5/21/20223.7  3.7  3.7  — %
Gwendolyn Luce4065 Laguna Way, Palo Alto, CA 94306PPPTerm Loan1.0%5/21/20220.8  0.8  0.8  — %
Hamilton Technology Services14115 West 59th Place, Arvada, CO 80004PPPTerm Loan1.0%5/21/202215.3  15.3  15.3  — %
134
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Routable AI Inc32 Chester St., Apt 7, Somerville, MA 02144PPPTerm Loan1.0%5/21/20223.2  3.2  3.2  — %
Michelle Euler1709 Forest Bend Lane, Keller, TX 76248PPPTerm Loan1.0%5/21/20221.2  1.2  1.2  — %
Lisa R. Drake PC3325 Piedmont Rd NE, Unit 3002, Atlanta, GA 30305PPPTerm Loan1.0%5/21/20222.3  2.3  2.3  — %
KKAP ELA Laundry, LLC3845 East 3rd St, Los Angeles, CA 90063PPPTerm Loan1.0%5/21/20221.8  1.8  1.8  — %
North Carolina Baptist Foundation, Inc.201 Convention Dr, Cary, NC 27511PPPTerm Loan1.0%5/21/202227.6  27.6  27.6  0.01 %
Taylor SF Inc333 Bush St., Ste 3705, San Francisco, CA 94104PPPTerm Loan1.0%5/21/20221.3  1.3  1.3  — %
Carrie Risatti307 Montana Ave, #201, Santa Monica, CA 90403PPPTerm Loan1.0%5/21/20221.7  1.7  1.7  — %
Todd Goodman Productions LLC DBA LA Light Photography1112 Montana Ave, #381, Santa Monica, CA 90403PPPTerm Loan1.0%5/21/20221.8  1.8  1.8  — %
INNERCONX641 Ranch Rd, Weston, FL 33326PPPTerm Loan1.0%5/21/20227.7  7.7  7.7  — %
Ultracare of Manhattan Ltd800 Second Ave, Ste 905, New York, NY 10017PPPTerm Loan1.0%5/21/202290.0  90.0  90.0  0.03 %
Frank Betz Associates, Inc.12045 HIGHWAY 92, Woodstock, GA 30188PPPTerm Loan1.0%5/21/202220.9  20.9  20.9  0.01 %
Lemon Tree Entertainment, LLC130 E 94th ST, 9D, New York, NY 10128PPPTerm Loan1.0%5/21/20221.9  1.9  1.9  — %
Hoops 4 Health875 Heather Ln, Winnetka, IL 60093PPPTerm Loan1.0%5/21/20223.4  3.4  3.4  — %
Psychiatry Associates PC1736 Oxmoor Rd, Ste 103, Birmingham, AL 35209PPPTerm Loan1.0%5/21/20225.0  5.0  5.0  — %
YourHQ1592 Union St., #505, San Francisco, CA 94123PPPTerm Loan1.0%5/22/20221.4  1.4  1.4  — %
EAM Partners L.P.3131 Maple Ave, Ste 13B, Dallas, TX 75201PPPTerm Loan1.0%5/22/20223.2  3.2  3.2  — %
S & L Paper Corporation3500 Hampton Rd, Oceanside, NY 11572PPPTerm Loan1.0%5/22/202212.9  12.9  12.9  — %
Javalin Group LLC9735 Rod Rd, Johns Creek, GA 30022PPPTerm Loan1.0%5/22/20221.3  1.3  1.3  — %
A & L Films, Inc.16105 Meadowcrest Rd, Sherman Oaks, CA 91403PPPTerm Loan1.0%5/22/20222.3  2.3  2.3  — %
Inner Pieces171 Vidal Blvd, Decatur, GA 30030PPPTerm Loan1.0%5/22/20220.4  0.4  0.4  — %
Maselan & Jones, P.C.One International Place, 8th Floor, Boston, MA 02110PPPTerm Loan1.0%5/22/20229.4  9.4  9.4  — %
Utility Consulting Group LLC23679 Calabasas Rd, #263, Calabasas, CA 91302PPPTerm Loan1.0%5/22/202253.0  53.0  53.0  0.02 %
135
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Platinum Marketing120 Windermere Dr, Blue Bell, PA 19422PPPTerm Loan1.0%5/22/20223.6  3.6  3.6  — %
Fybr LLC640 Cepi Dr, Ste C, Chesterfield, MO 63005PPPTerm Loan1.0%5/22/202227.3  27.3  27.3  0.01 %
Schlemmer Farms LLC6167 State Line Rd., Convoy, oh 45832PPPTerm Loan1.0%5/22/20223.0  3.0  3.0  — %
Black Hawk IncPO BOX 476, BRISTOL, IN 46507PPPTerm Loan1.0%5/22/202214.4  14.4  14.4  — %
Steeplechase Amusement Inc11540 Clover Ave, Los Angeles, CA 90066PPPTerm Loan1.0%5/22/20224.2  4.2  4.2  — %
Four Paws Animal Hospital PC199 Broadway, Amityville, NY 11701PPPTerm Loan1.0%5/22/20224.4  4.4  4.4  — %
L Corp2190 Talmadge St., Los Angeles, CA 90027PPPTerm Loan1.0%5/22/20223.3  3.3  3.3  — %
JK Belz & Associates Inc10580 N McCarran Blvd, #115-222, Reno, NV 89503PPPTerm Loan1.0%5/22/20224.8  4.8  4.8  — %
South Florida Imaging Consultants LLC10754 Versailles Blvd, Wellington, FL 33449PPPTerm Loan1.0%5/22/20224.4  4.4  4.4  — %
Stoker Construction Inc56471 29 PALMS HIGHWAY, YUCCA VALLEY, CA 92284PPPTerm Loan1.0%5/22/202214.5  14.5  14.5  — %
JB Press LLC82 Flamingo Rd, Roslyn, NY 11576PPPTerm Loan1.0%5/22/20221.4  1.4  1.4  — %
BanzaiFly Inc3861 Reklaw Dr, Studio City, CA 91604PPPTerm Loan1.0%5/22/20222.0  2.0  2.0  — %
Anders Environmental LLC1315 Hartford Dr, Boulder, CO 80305PPPTerm Loan1.0%5/22/20224.0  4.0  4.0  — %
P3s Corp21526 Privada Avila, San Antonio, TX 78257PPPTerm Loan1.0%5/22/202260.8  60.8  60.8  0.02 %
Youth Tennis San Diego Foundation4490 W Point Loma Blvd, San Diego, CA 92107PPPTerm Loan1.0%5/22/20220.7  0.7  0.7  — %
Jewish Community Foundation of the West2130 21st St, Sacramento, CA 95818PPPTerm Loan1.0%5/22/20221.2  1.2  1.2  — %
Cinema Vehicles12580 Saticoy St, North Hollywood, CA 91605PPPTerm Loan1.0%5/22/202259.0  59.0  59.0  0.02 %
Provino's Italian Restaurant, Inc.14485 Hopewell Rd, Alpharetta, GA 30004PPPTerm Loan1.0%5/26/202225.8  25.8  25.8  0.01 %
Bethany L. LaFlam9 Acacia Tree Ln, Irvine, CA 92612PPPTerm Loan1.0%5/26/20221.7  1.7  1.7  — %
Easy Content Media LLC706 Van Nest Dr, Martinsville, NJ 08836PPPTerm Loan1.0%5/26/20225.8  5.8  5.8  — %
Bar-Z Anderson LTD Co1408 Wathen Ave, Austin, TX 78703PPPTerm Loan1.0%5/26/20225.0  5.0  5.0  — %
The Desai Foundation209 Burlington Rd, Ste 217, Bedford, MA 01730PPPTerm Loan1.0%5/26/20225.3  5.3  5.3  — %
136
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
JM Robson LPCCS4807 Rockside Rd, Ste 300, Independence, OH 44131PPPTerm Loan1.0%5/26/20220.8  0.8  0.8  — %
Improving Communications105 Haven Ave, Port Washington, NY 11050PPPTerm Loan1.0%5/26/20222.1  2.1  2.1  — %
Kenneth R. Hughes3620 Mt Diablo Blvd, Ste 203, Lafayette, CA 94549PPPTerm Loan1.0%5/26/20222.1  2.1  2.1  — %
Drosihn Construction, Inc.749 Atherton Ave, Novato, CA 94945PPPTerm Loan1.0%5/26/20222.6  2.6  2.6  — %
163rd Avenue Investors, LLC1435 163rd Ave, San Leandro, CA 94578PPPTerm Loan1.0%5/26/20222.9  2.9  2.9  — %
2875 Sedgwick Owners Corp708 W 192nd St, Ste 1K, New York, NY 10040PPPTerm Loan1.0%5/26/20221.3  1.3  1.3  — %
KN Artist Management, LLC3924 Poppyseed Place, Calabasas, CA 91302PPPTerm Loan1.0%5/26/20222.1  2.1  2.1  — %
Hunstiger Inc9120 Rock Pond Way, Colorado Springs, CO 80924PPPTerm Loan1.0%5/26/20223.3  3.3  3.3  — %
Larry Lawrence Realty, Inc.PO Box 2365, Olympic Valley, CA 96146PPPTerm Loan1.0%5/26/20224.7  4.7  4.7  — %
Quickway Metal Fabricators9 Murran Rd, P.O. Box 1378, Monticello, NY 12701PPPTerm Loan1.0%5/26/20225.9  5.9  5.9  — %
DANGOLD, INC.138-43 78th Rd, Flushing, NY 11367PPPTerm Loan1.0%5/26/20221.0  1.0  1.0  — %
TK Food Concepts LLC107 North 3rd St, Ste 3D, Brooklyn, NY 11249PPPTerm Loan1.0%5/26/202215.4  15.4  15.4  — %
Jennifer Leigh Cobb303 Port Royal Way, Pensacola, FL 32502PPPTerm Loan1.0%5/26/20220.2  0.2  0.2  — %
44678 Valley Center LLC1417 Antigua Way, Newport Beach, CA 92660PPPTerm Loan1.0%5/26/20223.0  3.0  3.0  — %
Jennie Kwon Designs643 S Olive St, Los Angeles, CA 90014PPPTerm Loan1.0%5/26/20225.4  5.4  5.4  — %
Pacific CCI, Inc880 W 1st St, #520, Los Angeles, CA 90012PPPTerm Loan1.0%5/27/202236.4  36.4  36.4  0.01 %
Onchip Systems1953 O'Toole Way, San Jose, CA 95131PPPTerm Loan1.0%5/27/202212.8  12.8  12.8  — %
J Partners LLC4885 Rebel Trail, Atlanta, GA 30327PPPTerm Loan1.0%5/27/20222.1  2.1  2.1  — %
Craig Iwai848 S Myrtle Ave, Monrovia, CA 91016PPPTerm Loan1.0%5/27/20223.6  3.6  3.6  — %
Scalini's, Inc.14485 Hopewell Rd, Alpharetta, GA 30004PPPTerm Loan1.0%5/27/202217.7  17.7  17.7  0.01 %
Phillip Thomas Inc210 E 68th St, Ste 9G, New York, NY 10065PPPTerm Loan1.0%5/27/20228.4  8.4  8.4  — %
X-Pest100 N Hill Dr, #40, Brisbane, CA 94005PPPTerm Loan1.0%5/27/20225.0  5.0  5.0  — %
137
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Evalyn Mosser Bookkeeping and Consulting2436 N Federal Hwy, Ste 474, Lighthouse Point, FL 33064PPPTerm Loan1.0%5/27/20221.4  1.4  1.4  — %
Hauser Family Foundation10617 Charleston Dr, Vero Beach, FL 32963PPPTerm Loan1.0%5/27/20221.3  1.3  1.3  — %
Paige Management LLC254 Corsair Ave, Lauderdale-By-The-Sea, FL 33308PPPTerm Loan1.0%5/27/20221.1  1.1  1.1  — %
AC Diel17 Eton Ct, South Barrington, IL 60010PPPTerm Loan1.0%5/27/20221.0  1.0  1.0  — %
Robert Frantz MD, Inc1730 San Ysidro Dr, Beverly Hills, CA 90210PPPTerm Loan1.0%5/27/20222.1  2.1  2.1  — %
Sports Academy Integrated Sports Medicine, LLC1011 Rancho Conejo Blvd, Newbury Park, CA 91320PPPTerm Loan1.0%5/27/202231.4  31.4  31.4  0.01 %
Jasmine Greenhow4848 E Cactus Rd, Ste 505-473, Scottsdale, AZ 85254PPPTerm Loan1.0%5/27/20220.7  0.7  0.7  — %
Butterfly Sunrise Corp2261 Market St, #418, San Francisco, CA 94114PPPTerm Loan1.0%5/27/20221.3  1.3  1.3  — %
Aqua Flies LLCPO Box 2216, Sebastopol, CA 95473PPPTerm Loan1.0%5/27/20221.0  1.0  1.0  — %
Bent Tail, Inc.824 Brooks Ave, Venice, CA 90291PPPTerm Loan1.0%5/27/20222.1  2.1  2.1  — %
Actors and Others for Animals11523 Burbank Blvd, North Hollywood, CA 91601PPPTerm Loan1.0%5/27/20225.6  5.6  5.6  — %
Cabrillo Capital Group, Inc.15404 Highland Valley Rd, Escondido, CA 92025PPPTerm Loan1.0%5/27/20224.2  4.2  4.2  — %
Julie Evans Realtor4 Hopscotch Ln, Savannah, GA 31411PPPTerm Loan1.0%5/27/20221.7  1.7  1.7  — %
PlayWorks Counseling, LLC4420 NE St Johns Rd, Ste D, Vancouver, WA 98661PPPTerm Loan1.0%5/27/20220.6  0.6  0.6  — %
AMAN PC181 Westfield Ave, Clark, NJ 07066PPPTerm Loan1.0%5/27/20229.9  9.9  9.9  — %
Joped, Inc.1411 SE Indian St, Stuart, FL 34997PPPTerm Loan1.0%5/27/202214.4  14.4  14.4  — %
Marguarite Clark Public Relations2 New Chardon, Laguna Niguel, CA 92677PPPTerm Loan1.0%5/27/20223.4  3.4  3.4  — %
Jenius Solutions2772 Lansdowne Ln SE, Atlanta, GA 30339PPPTerm Loan1.0%5/27/20221.0  1.0  1.0  — %
Frenchy's1460 3rd St S, Jacksonville Beach, FL 32250PPPTerm Loan1.0%5/28/20228.6  8.6  8.6  — %
Hoaka Property Company LLCPO Box 670, Kailua Kona, HI 96745PPPTerm Loan1.0%5/28/202240.0  40.0  40.0  0.01 %
Fourth Church1270 Silverado St, La Jolla, CA 92037PPPTerm Loan1.0%5/28/20223.6  3.6  3.6  — %
138
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Daniel I Richman, MD429 E 75th St, 6th Floor, New York, NY 10021PPPTerm Loan1.0%5/28/202216.8  16.8  16.8  0.01 %
SANDLER SEARCH ASSOCIATES, LLC132 E 35th St, Apt 5E, New York, NY 10016PPPTerm Loan1.0%5/28/20228.7  8.7  8.7  — %
Yoga Connection of Pembroke Pines, Inc12592 Pines Blvd, #103, Pembroke Pines, FL 33027PPPTerm Loan1.0%5/28/20222.3  2.3  2.3  — %
Studio U+A, LLC231 W 29th St, Ste 1402, New York, NY 10001PPPTerm Loan1.0%5/28/20221.6  1.6  1.6  — %
Studio LBV6562 San Vicente Blvd, Los Angeles, CA 90048PPPTerm Loan1.0%5/28/20221.7  1.7  1.7  — %
Naissan O Wesley, MD, Inc - A Medical Corporation9201 W Sunset Blvd, Ste 602, Los Angeles, CA 90069PPPTerm Loan1.0%5/28/202212.3  12.3  12.3  — %
richard noren llc2101 Waukegan Rd, Ste 110, Bannockburn, IL 60015PPPTerm Loan1.0%5/28/20222.8  2.8  2.8  — %
Tinny Corporation100 Bradley St, Middletown, CT 06457PPPTerm Loan1.0%5/28/202250.2  50.2  50.2  0.02 %
PPJ2 Carsha Dr, Natick, MA 01760PPPTerm Loan1.0%5/28/202233.6  33.6  33.6  0.01 %
Dr. Tom Gallant DDS8906 Colesville Rd, Silver Spring, MD 20910PPPTerm Loan1.0%5/28/20221.0  1.0  1.0  — %
MLN Partners LLC550 S Ocean Blvd, Boca Raton, FL 33432PPPTerm Loan1.0%5/28/20224.2  4.2  4.2  — %
Tucker Investment Group, LLC5010 Parkway Calabasas, Ste 105, Calabasas, CA 91302PPPTerm Loan1.0%5/28/20223.4  3.4  3.4  — %
CHANCELLOR CONSULTING GROUP, INC749 Atherton Ave, Novato, CA 94945PPPTerm Loan1.0%5/28/20224.2  4.2  4.2  — %
Emeco805 W Elm Ave, Hanover, PA 17331PPPTerm Loan1.0%5/28/202250.7  50.7  50.7  0.02 %
Sports Academy Venture Lab, Inc.1011 Rancho Conejo Blvd, Newbury Park, CA 91320PPPTerm Loan1.0%5/28/202211.2  11.2  11.2  — %
George Chien12898 Woodmont Dr, Saratoga, CA 95070PPPTerm Loan1.0%5/28/20222.6  2.6  2.6  — %
Law Office of Debrah B. Rosenthal, APC120 Eucalyptus Ln, Costa Mesa, CA 92627PPPTerm Loan1.0%5/28/20222.7  2.7  2.7  — %
Mamba and Mamacita Sports Foundation1011 Rancho Conejo Blvd, Newbury Park, CA 91320PPPTerm Loan1.0%5/28/20223.3  3.3  3.3  — %
TMCG Marketing Inc. dba The Marcom Group1655 N Main St, #390, Walnut Creek, CA 94596PPPTerm Loan1.0%5/28/20225.5  5.5  5.5  — %
TrueCustomerSuccess LLC921 N Idaho St, San Mateo, CA 94401PPPTerm Loan1.0%5/28/20220.7  0.7  0.7  — %
Tectonics Enterprises Inc56471 29 PALMS HIGHWAY, YUCCA VALLEY, CA 92284PPPTerm Loan1.0%5/28/20227.5  7.5  7.5  — %
Julia Obadiah, PC6370 SW Borland, Ste 200, Tualatin, OR 97062PPPTerm Loan1.0%5/28/20223.1  3.1  3.1  — %
139
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Jaron Presant, Inc.752 Juanita Ave, Santa Barbara, CA 93109PPPTerm Loan1.0%5/28/20222.0  2.0  2.0  — %
Pig Will Productions, Inc.1957 N Bronson Ave, Los Angeles, CA 90068PPPTerm Loan1.0%5/29/20221.3  1.3  1.3  — %
Construction Details, LLC5412 Planting Field Lane, Flowery Branch, GA 30542PPPTerm Loan1.0%5/29/20222.1  2.1  2.1  — %
Dawn Coleman-Hyman2505 E 7 st, Long Beach, CA 90804PPPTerm Loan1.0%5/29/20221.2  1.2  1.2  — %
Benjamin Leshin, M.D. P.C.1267 Willis St, Redding, CA 96001PPPTerm Loan1.0%5/29/20222.1  2.1  2.1  — %
Don Dietrich Inc.240 Main St, Nyack, NY 10960PPPTerm Loan1.0%5/29/20223.3  3.3  3.3  — %
Shalik, Morris & Company, LLC80 Crossways Park Dr W, Woodbury, NY 11797PPPTerm Loan1.0%5/29/2022108.3  108.3  108.3  0.03 %
Strategic Code Solutions LLC182 Summer St, Box 355, Kingston, MA 02364PPPTerm Loan1.0%5/29/20221.7  1.7  1.7  — %
Elizabeth W. Shull2600 Wamath Dr, Charlotte, NC 28210PPPTerm Loan1.0%5/29/20221.7  1.7  1.7  — %
MANHATTAN RETINA & EYE CONSULTANTS67 E 78th St., Unit 1c, New York, NY 10075PPPTerm Loan1.0%5/29/20222.8  2.8  2.8  — %
TPR Ent. LTD644 Fayette Ave, Mamaroneck, NY 10543PPPTerm Loan1.0%5/29/20226.0  6.0  6.0  — %
Michael E. Cindrich, Attorney At Law225 Broadway, Ste 2100, San Diego, CA 92101PPPTerm Loan1.0%5/29/20225.0  5.0  5.0  — %
HCMA Consultants, Inc.1802 Harper Rd, Ste 102, Beckley, WV 25801PPPTerm Loan1.0%5/29/202214.5  14.5  14.5  — %
Electric Sales Associates, Inc2121 N Commerce Pkwy, Weston, FL 33326PPPTerm Loan1.0%5/29/202220.0  20.0  20.0  0.01 %
Derco Construction, Inc.1771 Blount Rd, #509, Pompano Beach, FL 33069PPPTerm Loan1.0%5/29/20225.3  5.3  5.3  — %
Brink Design LLC1088 Longley Ave NW, Atlanta, GA 30318PPPTerm Loan1.0%5/29/20222.9  2.9  2.9  — %
7D Surgical USA Inc.2711 Centerville Rd, Ste 400, Wilmington, DE 19808PPPTerm Loan1.0%5/29/202225.2  25.2  25.2  0.01 %
BY BABBA Inc6 St Johns Ln, New York, NY 10013PPPTerm Loan1.0%5/29/20226.9  6.9  6.9  — %
Joseph W Robb DDS Inc A Dental Corp56 Penny Lane, Ste A, Watsonville, CA 95076PPPTerm Loan1.0%5/29/20229.5  9.5  9.5  — %
Stix,LLC7805 NW Beacon Square Blvd, Ste 201, Boca Raton, FL 33487PPPTerm Loan1.0%5/29/20223.3  3.3  3.3  — %
LB Eatery, LLC1781 Village Ln N, Wantagh, NY 11793PPPTerm Loan1.0%5/29/20223.9  3.9  3.9  — %
DRAWINGROOM LLC73 Milland Dr, Mill Valley, CA 94941PPPTerm Loan1.0%5/29/20222.1  2.1  2.1  — %
140
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
NOVA Fisheries, Inc.2532 Yale Ave E, Seattle, WA 98102PPPTerm Loan1.0%5/29/20223.1  3.1  3.1  — %
POTOMAC GLEN DAY SCHOOL9908 S Glen Rd, Potomac, MD 20854PPPTerm Loan1.0%5/29/202213.9  13.9  13.9  — %
SLS Partners Inc6844 Spyglass Ln, Rancho Santa Fe, CA 92067PPPTerm Loan1.0%5/29/20222.7  2.7  2.7  — %
Steve Kupfer Consulting290 6th Ave, Brooklyn, NY 11215PPPTerm Loan1.0%5/29/20222.1  2.1  2.1  — %
Dreyfus Advisors, LLC448 Springer Rd., Fairfield, CT 06824PPPTerm Loan1.0%5/29/20222.1  2.1  2.1  — %
Hawk Management LLC2305 W Horizon Ridge Pkwy, #2024, Henderson, NV 89052PPPTerm Loan1.0%5/29/202218.9  18.9  18.9  0.01 %
Lenat & Partners, Inc.1633 Old Bayshore Hwy, Ste 220, Burlingame, CA 94010PPPTerm Loan1.0%5/29/20221.5  1.5  1.5  — %
Knock Out Productions Inc.21425 Dumetz Rd, Woodland Hills, CA 91364PPPTerm Loan1.0%5/29/20222.3  2.3  2.3  — %
Southside Cleaning Service, Inc.2969 Riverwood Terrace, Birmingham, AL 35242PPPTerm Loan1.0%5/29/20220.6  0.6  0.6  — %
DELUCA MASONRY CONSTRUCTION LLC4 Stone Cir, Norwood, MA 2062PPPTerm Loan1.0%5/29/20223.4  3.4  3.4  — %
Atlanta Consulting Engineers, Inc.500 Sun Valley Dr, Unit G2, Roswell, GA 30076PPPTerm Loan1.0%5/29/20229.3  9.3  9.3  — %
Sirockman Management LLC1600 Northside Dr NW, Ste 100, Atlanta, GA 30318PPPTerm Loan1.0%5/29/20222.1  2.1  2.1  — %
Nicholas Thaler PHD2950 S Bentley Ave, Unit 10, Los Angeles, CA 90064PPPTerm Loan1.0%5/29/20222.2  2.2  2.2  — %
Atlas Compensation Partners , LLC.2200 Anna Mae Dr, Coraopolis, PA 15108PPPTerm Loan1.0%5/29/20221.0  1.0  1.0  — %
Scelsi & Associates LLC76 E Euclid Ave, Haddonfield, NJ 08033PPPTerm Loan1.0%5/29/20229.9  9.9  9.9  — %
Headhunter Inc3380 SW 11th AVE, FT LAUDERDALE, FL 33315PPPTerm Loan1.0%5/29/202278.2  78.2  78.2  0.02 %
Hi Point, LLC10798 LONESOME DOVE TRAIL, Waxahachie, TX 77808PPPTerm Loan1.0%5/29/20222.8  2.8  2.8  — %
Construction Solutions and Services LLC7698 Hoffy Cir, Lake Worth, FL 33467PPPTerm Loan1.0%5/29/20221.1  1.1  1.1  — %
Curtis A Mellon, ReMax Anchor, MLS Detectives Group3941 Tamiami Trail, Ste 3121, Punta Gorda, FL 33950PPPTerm Loan1.0%5/29/20224.1  4.1  4.1  — %
Vicarious Music LLC70 Berry St, Ste 2C, Brooklyn, NY 11249PPPTerm Loan1.0%5/29/20220.6  0.6  0.6  — %
Raidah Hudson Dentistry4374 S Laburnum Ave, Richmond, VA 23231PPPTerm Loan1.0%5/29/20222.5  2.5  2.5  — %
141
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Clifton Triplett90 S Tranquil Path, Spring, TX 77380PPPTerm Loan1.0%5/29/20223.7  3.7  3.7  — %
Benton Oil & Gas LLC2700 Post Oak Boulevard, #2700, Houston, TX 77056PPPTerm Loan1.0%5/29/20220.6  0.6  0.6  — %
TLM Equities LLC8 Saddle Ridge Rd, Old Westbury, NY 11568PPPTerm Loan1.0%5/29/20222.0  2.0  2.0  — %
Xtreme Acro and Cheer Inc.14702 Southlawn Ln, Rockville, MD 20850PPPTerm Loan1.0%5/29/20225.0  5.0  5.0  — %
Jeffrey Bayer CPA, P.C.240 Kent Ave, Brooklyn, NY 11249PPPTerm Loan1.0%5/29/20222.2  2.2  2.2  — %
Josefa  F Simkin266 Green Valley Rd, Freedom, CA 95019PPPTerm Loan1.0%5/29/20221.2  1.2  1.2  — %
Calgo Mfg Inc9930 Research Dr, Ste 100, Irvine, CA 92618PPPTerm Loan1.0%5/29/20222.0  2.0  2.0  — %
Haley Glazer Geriatric Care Management, LLC40 Bradway Ave, Ewing Township, NJ 08618PPPTerm Loan1.0%6/1/20223.3  3.3  3.3  — %
Snipers Lacrosse Inc1024 W Heritage Club Cir, Delray Beach, FL 33483PPPTerm Loan1.0%6/1/20222.6  2.6  2.6  — %
Makena Tech Solutions, Inc232 N Lone Hill Ave, Glendora, CA 91741PPPTerm Loan1.0%6/1/20223.9  3.9  3.9  — %
Michael A Friedman, MD2675 N Decatur Rd, Decatur, GA 30033PPPTerm Loan1.0%6/1/20221.7  1.7  1.7  — %
Kevin A. Swersey Wine Consultant, Inc.612 Pondside Dr, White Plains, NY 10607PPPTerm Loan1.0%6/1/20220.2  0.2  0.2  — %
Clozd2801 N Thanksgiving Way, Ste 190, Lehi, UT 84043PPPTerm Loan1.0%6/1/202210.6  10.6  10.6  — %
Triple Aught Foundation24052 Watergap Rd, Hiko, NV 89017PPPTerm Loan1.0%6/1/20226.7  6.7  6.7  — %
Bonsecours Productions Inc.420 Riverside Dr, New York, NY 10025PPPTerm Loan1.0%6/1/20221.2  1.2  1.2  — %
Tova1 Corp21 S Hope Chapel Rd, Jackson Township, NJ 08527PPPTerm Loan1.0%6/1/20228.4  8.4  8.4  — %
Exclusive 30A Rentals, LLC20 Mark Twain lane, Inlet Beach, FL 32461PPPTerm Loan1.0%6/1/20228.7  8.7  8.7  — %
Eric Fischl3724 24th St, #113, Long Island City, NY 11101PPPTerm Loan1.0%6/1/20221.9  1.9  1.9  — %
Senior Resouces Guide LLCPO Box 6027, Denver, CO 80206PPPTerm Loan1.0%6/1/20222.7  2.7  2.7  — %
Lori B. Birndorf, D.O., A Medical Corporation12139 Riverside Dr, Valley Village, CA 91607PPPTerm Loan1.0%6/1/20223.0  3.0  3.0  — %
James E. Schad260 Hampton Farms Ct NE, Marietta, GA 30068PPPTerm Loan1.0%6/1/20222.1  2.1  2.1  — %
VCSC11627 Versailles Lakes Ln, Houston, TX 77082PPPTerm Loan1.0%6/1/20222.4  2.4  2.4  — %
142
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
MRV Associates19 Fox Meadow Rd, Scarsdale, NY 10583PPPTerm Loan1.0%6/1/20222.1  2.1  2.1  — %
Welles & Montgomery LLC770 Wildwood Rd NE, Atlanta, GA 30324PPPTerm Loan1.0%6/1/20220.7  0.7  0.7  — %
Lubin & Meyer, PC100 City Hall Plaza, Boston, MA 02108PPPTerm Loan1.0%6/1/202263.0  63.0  63.0  0.02 %
Broomstick Productions Inc10866 Wilshire Blvd, 10th Floor, Los Angeles, CA 90024PPPTerm Loan1.0%6/1/20222.1  2.1  2.1  — %
LAUREL RACQUET AND HEALTH CLUB INC204 Fort Meade Rd, Laurel, MD 20707PPPTerm Loan1.0%6/1/20225.3  5.3  5.3  — %
Special Events Staffing1015 N Lake Ave, Ste 205, Pasadena, CA 91104PPPTerm Loan1.0%6/1/202254.6  54.6  54.6  0.02 %
BOWIE RACQUET AND FITNESS CLUB, INC100 White Marsh Park Dr, Bowie, MD 20715PPPTerm Loan1.0%6/1/202228.1  28.1  28.1  0.01 %
Tiny Transformations222 N Henry St, Apt 2, Brooklyn, NY 11222PPPTerm Loan1.0%6/1/20220.5  0.5  0.5  — %
JAM Marketing, Inc.736 Broadway, 4th Floor, New York, NY 10003PPPTerm Loan1.0%6/1/20221.1  1.1  1.1  — %
Schroeder Arts Consulting LLC35 W 90th St, Ste 9F, New York, NY 10024PPPTerm Loan1.0%6/1/20222.1  2.1  2.1  — %
CATHY FRANKLIN124 EAST 92ND St., NEW YORK, NY 10128PPPTerm Loan1.0%6/1/20222.1  2.1  2.1  — %
R.E. Hazard Contracting Company401 B St, Ste 2400, San Diego, CA 92101PPPTerm Loan1.0%6/1/20226.3  6.3  6.3  — %
Sterling Creek Energy LLC308 N Colorado St, Ste 200, Midland, TX 79701PPPTerm Loan1.0%6/1/20221.6  1.6  1.6  — %
J. B. GOOD RESOURCES, LLC257 Abercorn Circle, Chapel Hill, NC 27516PPPTerm Loan1.0%6/1/20221.1  1.1  1.1  — %
Bull City Sue228 Pineview Rd, Durham, NC 27707PPPTerm Loan1.0%6/1/20221.0  1.0  1.0  — %
Get Wired Tec, Inc.2192 Lysander Ave, Simi Valley, CA 93065PPPTerm Loan1.0%6/1/20224.0  4.0  4.0  — %
A&J Enterprises, Inc.250 Columbine Unit 503, Denver, CO 80206PPPTerm Loan1.0%6/1/20222.2  2.2  2.2  — %
Steven F. Stratton200 E Randolph St, Chicago, IL 60601PPPTerm Loan1.0%6/1/20222.1  2.1  2.1  — %
Colgate McCallum Advisors Inc5440 Harvest Hill Rd., #253, Dallas, TX 75230PPPTerm Loan1.0%6/1/202214.6  14.6  14.6  — %
Hafner Research Associates LLC12 Quarry Ridge Rd, Sandy Hook, CT 06482PPPTerm Loan1.0%6/1/20221.8  1.8  1.8  — %
JD Digital Documentation408 E. 4th St., Ste 301A, Bridgeport, PA 19405PPPTerm Loan1.0%6/1/20223.6  3.6  3.6  — %
Richard A Stevenson DDS6851 Belfort Oaks Pl, Jacksonville, FL 32216PPPTerm Loan1.0%6/1/20224.2  4.2  4.2  — %
143
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Eco Tekk21136 N Andover Rd, Kildeer, IL 60047PPPTerm Loan1.0%6/1/20224.5  4.5  4.5  — %
Franz Weber, Inc.PO Box 34000, Reno, NV 89533PPPTerm Loan1.0%6/1/20222.2  2.2  2.2  — %
Bailey and Owens Construction2649 Valleydale Rd, Birmingham, AL 35244PPPTerm Loan1.0%6/1/202217.5  17.5  17.5  0.01 %
Levin's Crosstown Supply Corp.1347 Boston Rd, Bronx, NY 10456PPPTerm Loan1.0%6/1/20226.5  6.5  6.5  — %
Egan-Wagner Corporation2929 Two Paths Dr, Woodridge, IL 60517PPPTerm Loan1.0%6/1/20224.4  4.4  4.4  — %
MW Engineering2001 W Alameda Dr, Ste 201, Tempe, AZ 85282PPPTerm Loan1.0%6/1/20226.6  6.6  6.6  — %
New Soho Gallery Inc., DBA Julie Saul Projects1133 Broadway, Ste 733, New York, NY 10010PPPTerm Loan1.0%6/1/20222.1  2.1  2.1  — %
Judy DeCanio171 E 77th St, New York, NY 10075PPPTerm Loan1.0%6/1/20222.0  2.0  2.0  — %
Fedbiz Consulting Inc.47522 Coldspring Pl, Sterling, VA 20165PPPTerm Loan1.0%6/1/20224.3  4.3  4.3  — %
Quad Cities Autism Center Inc2430 6th Ave, Moline, IL 61265PPPTerm Loan1.0%6/1/202214.6  14.6  14.6  — %
The On The Line Company, Inc101 Arch St, Ste 225, Boston, MA 02110PPPTerm Loan1.0%6/1/20229.7  9.7  9.7  — %
FVC Associates Exec.Dev.&Strategy, Inc.97 Aldrich St., Boston, MA 02131PPPTerm Loan1.0%6/1/20222.1  2.1  2.1  — %
Barnhill Chiropractic Clinic5270 Northwest 34th Blvd., Gainesville, FL 32605PPPTerm Loan1.0%6/1/20223.3  3.3  3.3  — %
Guest Associates, Inc.2707 Artie St SW, Bldg 300, Ste 2, Huntsville, AL 35805PPPTerm Loan1.0%6/1/20223.8  3.8  3.8  — %
LG Networks Inc8111 Lyndon B Johnson Fwy, Ste 700, Dallas, TX 75251PPPTerm Loan1.0%6/1/202215.1  15.1  15.1  — %
Steve Solodoff1523 Portola St, Davis, CA 95616PPPTerm Loan1.0%6/1/20222.1  2.1  2.1  — %
Orange Park Travel3657 St Johns Ave, Jacksonville, FL 32205PPPTerm Loan1.0%6/2/20226.3  6.3  6.3  — %
Alessandra Santopietro88 Leonard St, Apt 517, New York, NY 10013PPPTerm Loan1.0%6/2/20221.8  1.8  1.8  — %
Pacific Design Directions, Inc.8171 E Kaiser Blvd, Anaheim, CA 92808PPPTerm Loan1.0%6/2/202244.6  44.6  44.6  0.01 %
Paul T.C. Liu MD Inc.2233 Huntington Dr, San Marino, CA 91108PPPTerm Loan1.0%6/2/20227.5  7.5  7.5  — %
JAB Executive Services11277 Gravitation Dr, Las Vegas, NV 89135PPPTerm Loan1.0%6/2/20222.1  2.1  2.1  — %
Glyphix Studio Inc.6964 Shoup Ave, Canoga Park, CA 91307PPPTerm Loan1.0%6/2/20224.9  4.9  4.9  — %
144
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
E & J Frankel Limited612 Pondside Dr, White Plains, NY 10607PPPTerm Loan1.0%6/2/20221.5  1.5  1.5  — %
Trapwire Inc.1818 Library St, Reston, VA 20190PPPTerm Loan1.0%6/2/202224.4  24.4  24.4  0.01 %
Chitra Kumar MD5311 John F. Kennedy Blvd, West New York, NJ 07093PPPTerm Loan1.0%6/2/20222.9  2.9  2.9  — %
Robert M. Worman, P.A1200 S Pine Island Rd, Ste 220, Plantation, FL 33324PPPTerm Loan1.0%6/2/20221.2  1.2  1.2  — %
Innervision Technology Relocation Company3780 Kilroy Airport Way, Ste 200-300, Long Beach, CA 90806PPPTerm Loan1.0%6/2/20227.4  7.4  7.4  — %
Marilyn Ontell Management14 W 17th St, Ste 5S, New York, NY 10011PPPTerm Loan1.0%6/2/20220.3  0.3  0.3  — %
Residential Origination Capital Mortgage Corp.5698 Pirrone Rd, Salida, CA 95368PPPTerm Loan1.0%6/2/20224.5  4.5  4.5  — %
Jessica Weber Design Inc305 7th Ave, New York, NY 10001PPPTerm Loan1.0%6/2/20223.9  3.9  3.9  — %
TK Digital Corporation107 North 3rd St, Ste 3D, Brooklyn, NY 11249PPPTerm Loan1.0%6/2/202210.8  10.8  10.8  — %
Provino's of North Gwinnett, Inc.14485 Hopewell Rd, Alpharetta, GA 30004PPPTerm Loan1.0%6/2/202224.0  24.0  24.0  0.01 %
General Glass3646 23rd Ave S, #105, Lake Worth, FL 33461PPPTerm Loan1.0%6/2/202213.3  13.3  13.3  — %
Zola Electric Labs, Inc.555 De Haro St, San Francisco, CA 94107PPPTerm Loan1.0%6/2/202250.0  50.0  50.0  0.02 %
Elena Napolitano MD, LLC58 Summit Ct, Westfield, NJ 07090PPPTerm Loan1.0%6/2/20221.0  1.0  1.0  — %
T-Cubed Ventures, LLC3317 P St NW, Washington, DC 20007PPPTerm Loan1.0%6/2/20220.3  0.3  0.3  — %
St. Jude Emergency Medical Group Inc.9930 Research Dr, Irvine, CA 92618PPPTerm Loan1.0%6/2/202224.5  24.5  24.5  0.01 %
Breiner Psychological Services LLC5825 Glenridge Dr, Bldg 3, Ste 101C, Atlanta, GA 30328PPPTerm Loan1.0%6/2/20221.2  1.2  1.2  — %
Spruce Street TapPO Box 1636, Asheville, NC 28802PPPTerm Loan1.0%6/2/202268.5  68.5  68.5  0.02 %
ICVM Group, INC.PO Box 761, Mattituck, NY 11952PPPTerm Loan1.0%6/2/20227.2  7.2  7.2  — %
Black Orchard Studios, LLC521 Eayrestown Rd, Southampton, NJ 08088PPPTerm Loan1.0%6/2/20221.0  1.0  1.0  — %
Prime Refrigerant Services, LLC511 Gates Creek Rd, Bradenton, FL 34212PPPTerm Loan1.0%6/2/20221.2  1.2  1.2  — %
Swiet411, Inc.247 Maxwell St, Decatur, GA 30030PPPTerm Loan1.0%6/2/20222.5  2.5  2.5  — %
Wavecrest Sales LLC501 NE Wavecrest Way, Boca Raton, FL 33432PPPTerm Loan1.0%6/2/20222.0  2.0  2.0  — %
145
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Alarm Specialist Inc333 Old Tarrytown Rd, White Plains, NY 10603PPPTerm Loan1.0%6/2/202220.0  20.0  20.0  0.01 %
CLG LLC5108 Baroque Cir NE, Atlanta, GA 30342PPPTerm Loan1.0%6/2/20222.1  2.1  2.1  — %
HIGGINS CONSTRUCTION LLC1626 Dunkirk Ln N, Plymouth, MN 55447PPPTerm Loan1.0%6/2/20224.2  4.2  4.2  — %
RBR Associates, LLC11720 Dancliff Trce, Alpharetta, GA 30009PPPTerm Loan1.0%6/2/20222.1  2.1  2.1  — %
Life Without Fear Chiropractic Clinic LLC1925 Justice Dr, Ste 170, Lexington, KY 40509PPPTerm Loan1.0%6/2/20222.5  2.5  2.5  — %
Joseph B. Krauss, DDS3351 El Camino Real, Ste 235, Atherton, CA 94027PPPTerm Loan1.0%6/2/20229.4  9.4  9.4  — %
Flynn Gallagher Associates LLC1980 Festival Plaza Dr, Ste 770, Las Vegas, NV 89135PPPTerm Loan1.0%6/2/202223.2  23.2  23.2  0.01 %
FGR Automation, LLC1800 Sunset Harbor, Unit 1202, Miami Beach, FL 33139PPPTerm Loan1.0%6/3/20227.1  7.1  7.1  — %
Law Offices of Rajiv S Khanna PC5225 N. Wilson Blvd, Arlington, VA 22205PPPTerm Loan1.0%6/3/202231.3  31.3  31.3  0.01 %
Travel Etcetera, Inc.1107 S Fair Oaks Ave, Pasadena, CA 91105PPPTerm Loan1.0%6/3/20220.6  0.6  0.6  — %
Samantha Hundshamer8223 Leucite Ave, Rancho Cucamonga, CA 91730PPPTerm Loan1.0%6/3/20220.8  0.8  0.8  — %
Porretta/Westenhagen Living Trust6454 Van Nuys Blvd, Ste 150, Van Nuys, CA 91401PPPTerm Loan1.0%6/3/20226.9  6.9  6.9  — %
Monument Management Systems LLC2400 Sisson St, Baltimore, MD 21211PPPTerm Loan1.0%6/3/20228.8  8.8  8.8  — %
Compass Management Services LLC1711 Parklake Village Dr, Katy, TX 77450PPPTerm Loan1.0%6/3/20221.1  1.1  1.1  — %
El Tigre Productions LLC14 West 17th St., New York, NY 10011PPPTerm Loan1.0%6/3/20221.8  1.8  1.8  — %
UVR Sculpture LLC78 Ingraham St, Brooklyn, NY 11237PPPTerm Loan1.0%6/3/20229.8  9.8  9.8  — %
Solomon Construction Consulting LLC38 Turtle Cove Ln, Huntington, NY 11743PPPTerm Loan1.0%6/3/20220.7  0.7  0.7  — %
Fisher Vista, Inc.119 Marina Ave, Ste A, Aptos, CA 95003PPPTerm Loan1.0%6/3/20223.3  3.3  3.3  — %
New York Construction Associates LLC242 West 36th St., Ste 704, New York, NY 10018PPPTerm Loan1.0%6/3/20229.8  9.8  9.8  — %
Ultimate Sports Medicine3727 Buchanan St., Ste 203, San Francisco, CA 94123PPPTerm Loan1.0%6/3/20222.1  2.1  2.1  — %
Princeton Van Service92 north main St. bldg 4, WINDSOR, NJ 08561PPPTerm Loan1.0%6/3/20221.7  1.7  1.7  — %
Crescent Oil and Gas, LLC4925 Greenville Ave, Ste 600, Dallas, TX 75206PPPTerm Loan1.0%6/3/20222.1  2.1  2.1  — %
146
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
David H.C. King, M.D., Inc.320 Dardanelli Ln, Ste 23B, Los Gatos, CA 95032PPPTerm Loan1.0%6/3/20223.8  3.8  3.8  — %
Renuart Enterprises Inc. (REI)16950 SW 90th Ave, Palmetto Bay, FL 33157PPPTerm Loan1.0%6/3/20227.3  7.3  7.3  — %
Integrated risk management services, llc225 West 34th St., Ste 905, New York, NY 10122PPPTerm Loan1.0%6/3/20220.6  0.6  0.6  — %
Subterranean Hair263 W 7th St, San Pedro, CA 90731PPPTerm Loan1.0%6/3/20220.9  0.9  0.9  — %
Steven R Bateh, DMD, PA1305 N Orange Ave, #116, Green Cove Springs, FL 32043PPPTerm Loan1.0%6/3/20223.7  3.7  3.7  — %
Apache Behavioral Health Services, Inc.249 W Ponderosa St, Whiteriver, AZ 85941PPPTerm Loan1.0%6/3/2022241.1  241.1  241.1  0.07 %
Saecularia LLC1552 N Cahuenga Blvd, Los Angeles, CA 90028PPPTerm Loan1.0%6/3/20223.8  3.8  3.8  — %
Bennett Elia3304 Cole Ave, Ste 171, Dallas, TX 75204PPPTerm Loan1.0%6/3/20224.2  4.2  4.2  — %
HAssan Medical Pain Relief and Wellness Center. DBA: Hassan Spine and Sports Medicine316 Tennent Rd, Ste 202A, Morganville, NJ 07751PPPTerm Loan1.0%6/3/20221.5  1.5  1.5  — %
Mazco Ventures LLC3410 Montrose Blvd, Houston, TX 77006PPPTerm Loan1.0%6/3/20220.3  0.3  0.3  — %
Parenteau Guidance132 E 35th St, Apt 3J, New York, NY 10016PPPTerm Loan1.0%6/3/20220.9  0.9  0.9  — %
Paul Leitner MD8540 S Sepulveda Blvd, Ste 910, Los Angeles, CA 90045PPPTerm Loan1.0%6/3/20223.9  3.9  3.9  — %
Ryan Berman Advisory, LLC161 Falcon Rd, Guilford, CT 06437PPPTerm Loan1.0%6/3/20222.1  2.1  2.1  — %
Linda Lane PR & Marketing280 Edgewood Dr, West Palm Beach, FL 33405PPPTerm Loan1.0%6/3/20221.6  1.6  1.6  — %
Heath Tinsley1595 Sailing Club Rd, Camden, SC 29020PPPTerm Loan1.0%6/3/20220.4  0.4  0.4  — %
Innovative Waste Solutions LLC10300 W Charleston Blvd, Ste 13-B4, Las Vegas, NV 89135PPPTerm Loan1.0%6/3/20220.3  0.3  0.3  — %
over the moon619 Valley Rd, Montclair, NJ 07043PPPTerm Loan1.0%6/3/20223.4  3.4  3.4  — %
Fiber Connect LLC12 Buckingham Lane, Monterey, MA 01245PPPTerm Loan1.0%6/3/20224.7  4.7  4.7  — %
Dr. Stuart Schlisserman, MD211 Quarry Rd, Ste 203 MC5993, Stanford, CA 94304PPPTerm Loan1.0%6/3/20224.5  4.5  4.5  — %
Griffin Land Corp.115 North St, Ste 40, Litchfield, CT 06759PPPTerm Loan1.0%6/4/20222.1  2.1  2.1  — %
147
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Mohlar Hurley Partners608 Santa Monica Blvd, Santa Monica, CA 90401PPPTerm Loan1.0%6/4/20221.8  1.8  1.8  — %
Avlis Partners LLC900 Golf View Ct, Dacula, GA 30019PPPTerm Loan1.0%6/4/20222.6  2.6  2.6  — %
G2 Computers LLC1116 Taylorsville Rd, Washington Crossing, PA 18977PPPTerm Loan1.0%6/4/20222.4  2.4  2.4  — %
Children's Dispensary & Hospital Association812 E Lasalle Ave, South Bend, IN 46617PPPTerm Loan1.0%6/4/20222.2  2.2  2.2  — %
Realign by Randee, Inc.730 Crystal Ct, Weston, FL 33326PPPTerm Loan1.0%6/4/20220.4  0.4  0.4  — %
Breckenridge Technologies, LLC2333 San Ramon Valley Blvd, Ste 460, San Ramon, CA 94583PPPTerm Loan1.0%6/4/20226.9  6.9  6.9  — %
Chris Soukas Furs LLC1050 Point Seaside Dr, Crystal Beach, FL 34681PPPTerm Loan1.0%6/4/20224.2  4.2  4.2  — %
BRAS NW INC317 NW Gilman Blvd, Ste 44, Issaquah, WA 98027PPPTerm Loan1.0%6/4/20221.1  1.1  1.1  — %
Metal Oxide Technologies LLC8807 Emmott Rd, Ste 100, Houston, TX 77040PPPTerm Loan1.0%6/4/202225.2  25.2  25.2  0.01 %
Social Leadia427 Country Ln, Louisville, KY 40207PPPTerm Loan1.0%6/4/20220.6  0.6  0.6  — %
Prime Sales & Marketing, Inc.3211 University Blvd SE, Ste A, Albuquerque, NM 87106PPPTerm Loan1.0%6/4/202224.7  24.7  24.7  0.01 %
Vreeke & Associates845 E Easy St., Ste 101, Simi Valley, CA 93065PPPTerm Loan1.0%6/4/20228.8  8.8  8.8  — %
THE MYOCARDITIS FOUNDATION3518 Echo Mountain Dr, Kingwood, TX 77345PPPTerm Loan1.0%6/4/20222.2  2.2  2.2  — %
Gerald A. Field d/b/a Gerald A. Field, Attorney at Law11 Asylum St, Hartford, CT 06103PPPTerm Loan1.0%6/4/20221.6  1.6  1.6  — %
Lisa Segmiller17211 Bellhaven Walk Ct, Charllote, NC 28277PPPTerm Loan1.0%6/4/20221.2  1.2  1.2  — %
MAYATEX, INC.5015 S IH 35, Georgetown, TX 78626PPPTerm Loan1.0%6/4/20224.7  4.7  4.7  — %
Rock Bottom Productions1125 E Broadway, #249, Glendale, CA 91205PPPTerm Loan1.0%6/4/20221.4  1.4  1.4  — %
Franciscan Poor Clares720 HENRY CLAY AVE, NEW ORLEANS, LA 70118PPPTerm Loan1.0%6/4/20222.0  2.0  2.0  — %
SKYMINA LLC3105 Cedar Rd, Yorktown Heights, NY 10598PPPTerm Loan1.0%6/4/20222.1  2.1  2.1  — %
Guardian Consulting Services, Inc.3333 New Hyde Park Rd, Ste 202, New Hyde Park, NY 11042PPPTerm Loan1.0%6/4/20228.0  8.0  8.0  — %
Kitty and Vibe, Inc126 13th St, 3rd Floor, Brooklyn, NY 11215PPPTerm Loan1.0%6/4/20220.6  0.6  0.6  — %
148
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Oncology and Hematology Associates of Central Jersey PA2177 OAK TREE RD, Ste 104, Edison, NJ 08820PPPTerm Loan1.0%6/4/202212.0  12.0  12.0  — %
Serlin Consulting LLC1445 Gordon Terrace, Deerfield, IL 60015PPPTerm Loan1.0%6/4/20222.1  2.1  2.1  — %
Amanda Thompson Design4676 Dovefield Ln, Kannapolis, NC 28081PPPTerm Loan1.0%6/4/20220.3  0.3  0.3  — %
Cartoon Collections, LLC155 E 44th St, 29th Floor, New York, NY 10017PPPTerm Loan1.0%6/4/20224.4  4.4  4.4  — %
Farrell Remodeling, Inc.148 2nd St, Los Altos, CA 94022PPPTerm Loan1.0%6/4/202215.4  15.4  15.4  — %
Aircel LLC3033 Riviera Dr, Ste 101, Naples, FL 34103PPPTerm Loan1.0%6/4/202235.0  35.0  35.0  0.01 %
Make 3 Architecture1075 Brady Ave NW, Atlanta, GA 30318PPPTerm Loan1.0%6/4/20224.0  4.0  4.0  — %
Edgewater Services Co Ltd225 Greenfield Pkwy, Ste 202, Liverpool, NY 13088PPPTerm Loan1.0%6/4/20223.7  3.7  3.7  — %
Eva Davis4403 Chase Ave, Bethesda, MD 20814PPPTerm Loan1.0%6/4/20222.1  2.1  2.1  — %
Human Capital Management and Performance, LLC.6506 Mebane Oaks Rd, Mebane, NC 27302PPPTerm Loan1.0%6/4/20222.1  2.1  2.1  — %
Robert Spransy CPA257 Abercorn Cir, Chapel Hill, NC 27516PPPTerm Loan1.0%6/4/20221.5  1.5  1.5  — %
Unity Worldwide Ministries Eastern Region800 Blanton Ave, Richmond, VA 23221PPPTerm Loan1.0%6/4/20220.8  0.8  0.8  — %
Melanie S. Francis, LCSW116 W 23rd St., 5th Floor, New York, NY 10011PPPTerm Loan1.0%6/4/20221.6  1.6  1.6  — %
Fry Investment Company4241 N Winfield Scott Plaza, #201, Scottsdale, AZ 85251PPPTerm Loan1.0%6/4/202213.9  13.9  13.9  — %
RAZL LLC45 Coldstream Cir, Lincolnshire, IL 60069PPPTerm Loan1.0%6/4/20222.1  2.1  2.1  — %
New Experience1029 N Peachtree Parkway 268, Peachtree City, GA 30269PPPTerm Loan1.0%6/4/20226.9  6.9  6.9  — %
Enhanced Affordable Management Company, LLC4221 Wilshire Blvd, Ste 260, Los Angeles, CA 90010PPPTerm Loan1.0%6/4/202212.0  12.0  12.0  — %
Socorro Corp900 Wilshire Blvd, Ste 2400, Los Angeles, CA 90017PPPTerm Loan1.0%6/4/20222.1  2.1  2.1  — %
Amanda Lopez23411 aliso viejo parkway, Aliso Viejo, CA 92656PPPTerm Loan1.0%6/4/20220.5  0.5  0.5  — %
Brodeur Kazanjian Beauty & Fashion LLC dba Queen Beauty1675 E Morten Ave, #4112, Phoenix, AZ 85020PPPTerm Loan1.0%6/4/20225.9  5.9  5.9  — %
Charm City Cakes2936 Remington Ave, Baltimore, MD 21211PPPTerm Loan1.0%6/4/20225.5  5.5  5.5  — %
149
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
James Reinish & Associates, Inc.25 E 73rd St, New York, NY 10021PPPTerm Loan1.0%6/5/20223.4  3.4  3.4  — %
Moody Creek Farms LLC31257 VIA MARIA ELENA, Bonsall, CA 92003PPPTerm Loan1.0%6/5/202235.4  35.4  35.4  0.01 %
YMCA of West San Gabriel Valley401 East Corto St., Alhambra, CA 91801PPPTerm Loan1.0%6/5/202215.7  15.7  15.7  — %
National Postdoctoral Association15800 Crabbs Branch Way, Derwood, MD 20855PPPTerm Loan1.0%6/5/20223.7  3.7  3.7  — %
Laura A. Brevetti575 5th Ave, 14th Floor, New York, NY 10017PPPTerm Loan1.0%6/5/20223.0  3.0  3.0  — %
Superius Securities Group Inc94 Grand Ave, Englewood, NJ 07631PPPTerm Loan1.0%6/5/20224.4  4.4  4.4  — %
CATWALK, LLC fka VITRINE LLC4300 Stevens Creek Blvd, Ste 126, San Jose, CA 95129PPPTerm Loan1.0%6/5/20220.6  0.6  0.6  — %
Michelle Frost Real Estate Sales3113 Roswell Rd, Ste 101, Marietta, GA 30062PPPTerm Loan1.0%6/5/20222.1  2.1  2.1  — %
Nezhat Medical Center P.C.5555 Peachtree Dunwoody Rd, Ste #276, Atlanta, GA 30342PPPTerm Loan1.0%6/5/20228.3  8.3  8.3  — %
MS-IR LLC88 Morningside Ave, Ste 7A, New York, NY 10027PPPTerm Loan1.0%6/5/20222.1  2.1  2.1  — %
Michael S. Blank Realty1870 Baldwin Rd. - Unit 69, Yorktown Heights, NY 10598PPPTerm Loan1.0%6/5/20221.3  1.3  1.3  — %
PDT LLC2812 Rivers Edge Rd, Louisville, KY 40222PPPTerm Loan1.0%6/5/20223.3  3.3  3.3  — %
Hrach Khudatyan MD, Inc134 N Glendale Ave, Glendale, CA 91206PPPTerm Loan1.0%6/5/20223.3  3.3  3.3  — %
Corona Jackson Refrigeration Service, Inc.59-6 Central Ave, Farmingdale, NY 11735PPPTerm Loan1.0%6/5/20222.8  2.8  2.8  — %
Hight Accounting Services LLC3209 E Wood Valley Rd NW, Atlanta, GA 30327PPPTerm Loan1.0%6/5/20220.5  0.5  0.5  — %
Seattle Ventures LLC2215 3rd Ave W, Seattle, WA 98119PPPTerm Loan1.0%6/5/20222.1  2.1  2.1  — %
Nottingham Investment Company LLLP1690 Derby Mesa Loop, Burns, CO 80426PPPTerm Loan1.0%6/5/20222.1  2.1  2.1  — %
CT Business Enterprises14703 Lyon Hill Ln, Huntersville, NC 28078PPPTerm Loan1.0%6/5/20220.5  0.5  0.5  — %
Sherman Law Group, a Professional Law Corporation9454 Wilshire Blvd, Beverly Hills, CA 90212PPPTerm Loan1.0%6/5/20224.2  4.2  4.2  — %
Salon Vivace VA, LLC680 Ingomar Rd, Wexford, PA 15090PPPTerm Loan1.0%6/5/202212.7  12.7  12.7  — %
Statewide Interpreters63 Milland Dr, Mill Valley, CA 94941PPPTerm Loan1.0%6/5/202211.7  11.7  11.7  — %
150
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
The Fiedler Companies, Inc.408 E 134th St, Bronx, NY 10454PPPTerm Loan1.0%6/5/20225.9  5.9  5.9  — %
Chris Matheos13726 Leadwell St, Van Nuys, CA 91405PPPTerm Loan1.0%6/5/20220.1  0.1  0.1  — %
Custom Trades Company129 Stonehedge Dr N, Greenwich, CT 06831PPPTerm Loan1.0%6/5/20220.5  0.5  0.5  — %
The JW Agency LLC707 Skokie Blvd, Ste 600, Northbrook, IL 60062PPPTerm Loan1.0%6/5/20223.6  3.6  3.6  — %
Precision Landscape Management Inc3130 Carter Jones Rd, Groveland, FL 34736PPPTerm Loan1.0%6/5/202219.0  19.0  19.0  0.01 %
Stonecrop Gardens Inc81 Stonecrop Ln, Cold Spring, NY 10516PPPTerm Loan1.0%6/5/202216.7  16.7  16.7  0.01 %
Panache639 Pilot House Dr, Newport News, VA 23606PPPTerm Loan1.0%6/5/20227.1  7.1  7.1  — %
Justin W McClung d/b/a The McClung Group55 N Altwood Cir, Spring, TX 77382PPPTerm Loan1.0%6/5/20224.2  4.2  4.2  — %
Door Four LLC508 W 26th St., Ste 11A, New York, NY 10001PPPTerm Loan1.0%6/5/202213.2  13.2  13.2  — %
Grandview Advisors Inc.100 RIVERSIDE LN, Riverside, CT 06878PPPTerm Loan1.0%6/5/20221.5  1.5  1.5  — %
Andrew S. Gaffney Foundation245 South St, Morristown, NJ 07960PPPTerm Loan1.0%6/5/20221.4  1.4  1.4  — %
The Law Offices of Bob Camors1501 The Alameda, Ste 210, San Jose, CA 95126PPPTerm Loan1.0%6/5/20223.2  3.2  3.2  — %
Ash Health Corp316 Tennent Rd, Ste 202A, Morganville, NJ 07751PPPTerm Loan1.0%6/5/20221.7  1.7  1.7  — %
Anne T. Carlon M.D. P.C.425 E 58th St, #39A, New York, NY 10022PPPTerm Loan1.0%6/5/202212.4  12.4  12.4  — %
SDG Engineering PC121 Huntington Rd, Port Washington, NY 11050PPPTerm Loan1.0%6/5/20228.5  8.5  8.5  — %
Active Reading Clinic25 Hillcroft Way, Walnut Creek, CA 94597PPPTerm Loan1.0%6/5/20223.2  3.2  3.2  — %
JD Randall group4422 Sea Harbour Dr, Huntington Beach, CA 92649PPPTerm Loan1.0%6/5/20221.5  1.5  1.5  — %
American Friends of the Israel Museum545 5th Ave, Ste 920, New York, NY 10017PPPTerm Loan1.0%6/5/202213.2  13.2  13.2  — %
STSE - DBA Plaza Auto359 E Western Reserve Rd, Youngstown, OH 44514PPPTerm Loan1.0%6/5/20221.1  1.1  1.1  — %
Green Rhino Recycling, LLC2809 Academy Dr SE, Auburn, WA 98092PPPTerm Loan1.0%6/5/20222.2  2.2  2.2  — %
Landmark Technologies LLC4806 S St Andrews Ln, Spokane, WA 99223PPPTerm Loan1.0%6/5/20222.8  2.8  2.8  — %
Jacqueline R. Moroco, D.D.S., M.S., P.A.4600 Linton Boulevard, Ste 330, Delray Beach, FL 33445PPPTerm Loan1.0%6/5/202214.3  14.3  14.3  — %
151
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Compacted Recycling Company LLC2809 Academy Dr SE, Auburn, WA 98092PPPTerm Loan1.0%6/5/20221.1  1.1  1.1  — %
LaFlower Construction, Inc.23888 Madison St, Torrance, CA 90505PPPTerm Loan1.0%6/5/20220.1  0.1  0.1  — %
DC Retina Docs PLLC3317 P St NW, Washington, DC 20007PPPTerm Loan1.0%6/5/20220.6  0.6  0.6  — %
Katherine W Luce1220 University Dr, Ste 104, Menlo Park, CA 94025PPPTerm Loan1.0%6/5/20221.3  1.3  1.3  — %
HYPRLABS INC.400 Concar Dr, San Mateo, CA 94402PPPTerm Loan1.0%6/5/202210.4  10.4  10.4  — %
Tmack Property Maintenance LLC14 Knollwood Dr, East Hanover, NJ 07936PPPTerm Loan1.0%6/5/20221.6  1.6  1.6  — %
Sea-Est Incorporated1741 W Beaver St, Jacksonville, FL 32209PPPTerm Loan1.0%6/8/202225.6  25.6  25.6  0.01 %
Gwinnett Cemeteries, LLC103 Crestview Church Rd, Warner Robins, GA 31088PPPTerm Loan1.0%6/8/202216.5  16.5  16.5  0.01 %
Clint Dewey155 E 31st St, Apt 4S, New York, NY 10016PPPTerm Loan1.0%6/8/20222.1  2.1  2.1  — %
KP Auto Repair LLC12917 Percheron Ln, Oak Hill, VA 20171PPPTerm Loan1.0%6/8/20221.3  1.3  1.3  — %
Michael S Chlopak1 Claridge Dr, Apt PH 14, Verona, NJ 07044PPPTerm Loan1.0%6/8/20221.4  1.4  1.4  — %
Morgan Blakeley LLC255 Saint Paul St, Apt #220, Denver, CO 80206PPPTerm Loan1.0%6/8/20220.7  0.7  0.7  — %
Frank Nicholson Inc.360 Massachusetts Ave, Acton, MA 01720PPPTerm Loan1.0%6/8/20228.6  8.6  8.6  — %
John Merrick3209 Centenary Ave, Dallas, TX 75225PPPTerm Loan1.0%6/8/20222.0  2.0  2.0  — %
Music Center Inc. dba Haight Ashbury Music Center; dba Gelb Music722 El Camino Real, Redwood City, CA 94063PPPTerm Loan1.0%6/8/20229.5  9.5  9.5  — %
Korhan Beba17 Oak Hill Rd, Branchburg, NJ 08853PPPTerm Loan1.0%6/8/20220.5  0.5  0.5  — %
Grenville Owners Corp.225 Bennett Ave, Ste 1K, New York, NY 10040PPPTerm Loan1.0%6/8/20223.2  3.2  3.2  — %
Camfed U.S.A. Foundation466 Geary St, Ste 400, San Francisco, CA 94102PPPTerm Loan1.0%6/8/202218.2  18.2  18.2  0.01 %
National Roofing1237 Circle Ave, Forest Park, IL 60130PPPTerm Loan1.0%6/8/202252.5  52.5  52.5  0.02 %
Dental Designs of Naples5048 Tamiami Trail N, Naples, FL 34103PPPTerm Loan1.0%6/9/202221.1  21.1  21.1  0.01 %
Ronald A. Williams Ltd5540 Falmouth St Ste 303, Richmond, VA 23230PPPTerm Loan1.0%6/9/20223.8  3.8  3.8  — %
National Foundation for Infectious Diseases (NFID)7201 Wisconsin Ave, Ste 750, Bethesda, MD 20814PPPTerm Loan1.0%6/9/20229.9  9.9  9.9  — %
152
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
The Junior League of Pensacola, Florida, Incorporated2016 W. Garden St., Pensacola, FL 32502PPPTerm Loan1.0%6/9/20220.5  0.5  0.5  — %
David Dee Fine Arts1374 E Arlington Dr, Salt Lake City, UT 84108PPPTerm Loan1.0%6/9/20220.6  0.6  0.6  — %
HERBERT CHARLES SCHWAT1940 Biltmore St NW, Apt 32, Washington, DC 20009PPPTerm Loan1.0%6/9/20222.1  2.1  2.1  — %
ATL Advisory LLC76 Bellefair Rd, Rye Brook, NY 10573PPPTerm Loan1.0%6/9/20222.1  2.1  2.1  — %
Kushnika, Inc.14766 Live Oak Ln, Saratoga, CA 95070PPPTerm Loan1.0%6/9/20220.7  0.7  0.7  — %
Gabriella New York, LLC155 Wooster St., Unit 3W, New York, NY 10012PPPTerm Loan1.0%6/9/20223.1  3.1  3.1  — %
Luxury Destinations151 Melius Rd, Warren, CT 06754PPPTerm Loan1.0%6/9/20221.6  1.6  1.6  — %
G&A Rehab, Inc3333 Skypark Dr, Ste 220, Torrance, CA 90505PPPTerm Loan1.0%6/9/202215.8  15.8  15.8  — %
CCR Investment Group dba Equity Finance Group2271 W. Malvern ave, Ste 424, Fullerton, CA 92833PPPTerm Loan1.0%6/9/20225.1  5.1  5.1  — %
OCC installations12102 Manley St, Garden Grove, CA 92845PPPTerm Loan1.0%6/9/20220.7  0.7  0.7  — %
Charm City Cakes West8302 Melrose Ave, Los Angeles, CA 90069PPPTerm Loan1.0%6/9/20226.6  6.6  6.6  — %
Cape fear kickboxing inc7122 Market St, Ste 120, Wilmington, NC 28411PPPTerm Loan1.0%6/9/20224.9  4.9  4.9  — %
Solstice Adventure, LLC1521 Alton Rd, #802, Miami Beach, FL 33139PPPTerm Loan1.0%6/9/20220.9  0.9  0.9  — %
Standard Wedding Band Co Inc951 Franklin Ave, Garden City, NY 11530PPPTerm Loan1.0%6/10/20223.5  3.5  3.5  — %
Michigan Braille Transcribing Fund3500 N. Elm, Jackson, MI 49201PPPTerm Loan1.0%6/10/20224.7  4.7  4.7  — %
Joy DiNapoli154 Beach Ave, Larchmont, NY 10538PPPTerm Loan1.0%6/10/20221.0  1.0  1.0  — %
PJH Partners LLC455 East Paces Ferry Rd NE, Ste 214, Atlanta, GA 30305PPPTerm Loan1.0%6/10/20220.9  0.9  0.9  — %
Christine Yi111 E 30th St, Ste 8B, New York, NY 10016PPPTerm Loan1.0%6/10/20220.8  0.8  0.8  — %
Intrepid7 Quail Ridge Rd S, Rolling Hills, CA 90274PPPTerm Loan1.0%6/10/20226.9  6.9  6.9  — %
J3 Consulting, LLC1 Mountain Oaks Park, Glendale, CA 91214PPPTerm Loan1.0%6/10/20222.1  2.1  2.1  — %
Don Marshall CPA Inc3427 S Walker Ave, San Pedro, CA 90731PPPTerm Loan1.0%6/10/20221.0  1.0  1.0  — %
Cassidy Holdings, LLC7712 Hillside Dr, La Jolla, CA 92037PPPTerm Loan1.0%6/10/20221.2  1.2  1.2  — %
153
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
AUREUS CAPITAL LLC216 E Sheridan Pl, Lake Bluff, IL 60044PPPTerm Loan1.0%6/10/20221.3  1.3  1.3  — %
Timothy F. Lester8 Forest Dr, Westport, CT 06880PPPTerm Loan1.0%6/10/20220.5  0.5  0.5  — %
Hamilton Hill LLC905 W Main St, Durham, NC 27701PPPTerm Loan1.0%6/10/20224.3  4.3  4.3  — %
Rain Wine National Corp2608 SW River Shore Dr, Port St. Lucie, FL 34984PPPTerm Loan1.0%6/10/20222.1  2.1  2.1  — %
Mora Investment Management9 W Star Island Dr, Miami Beach, FL 33139PPPTerm Loan1.0%6/10/20221.2  1.2  1.2  — %
Mark Friedman210 W 101st St, Ste 5E, New York, NY 10025PPPTerm Loan1.0%6/10/20222.1  2.1  2.1  — %
Grunberger Diamonds Incorporated98 Cutter Mill Rd, Great Neck Plaza, NY 11021PPPTerm Loan1.0%6/10/20228.4  8.4  8.4  — %
Examoto LLC125 Booth Ln, Haverford, PA 19041PPPTerm Loan1.0%6/10/20225.3  5.3  5.3  — %
Michael Slayton General Contracting, Inc232 N Lonehill Ave, Glendora, CA 91741PPPTerm Loan1.0%6/11/20221.2  1.2  1.2  — %
Joseph Haraszti2810 East Del Mar Blvd, Ste 8A, Pasadena, CA 91107PPPTerm Loan1.0%6/11/20222.9  2.9  2.9  — %
Statement Lawn and Landscape, Inc.19520 W 95th St, Lenexa, KS 66220PPPTerm Loan1.0%6/11/20221.1  1.1  1.1  — %
Alexis D. Bodenheimer205 East 92nd St., Apt 27A, New York, NY 10128PPPTerm Loan1.0%6/11/20222.1  2.1  2.1  — %
Augusta Grant Travel1428 Hemingway Place, Naples, FL 34103PPPTerm Loan1.0%6/11/20220.7  0.7  0.7  — %
NEUMENTUM, INC.250 Colorado Ave, Palo Alto, CA 94301PPPTerm Loan1.0%6/11/20224.9  4.9  4.9  — %
Paige Hoholik LLC210 St Paul St, Denver, CO 80206PPPTerm Loan1.0%6/11/20222.1  2.1  2.1  — %
Birdie Golf Ball Company208 Margate Ct, Margate, FL 33063PPPTerm Loan1.0%6/11/20220.9  0.9  0.9  — %
Rachel Dack Counseling LLC6917 Arlington Rd, #222, Bethesda, MD 20814PPPTerm Loan1.0%6/11/20221.3  1.3  1.3  — %
Law Office of Swati P Mantione, P.C.12 Thadford St, East Northport, NY 11731PPPTerm Loan1.0%6/11/20222.1  2.1  2.1  — %
Amanda Reynal Interiors1417 Walnut St, Ste D, Des Moines, IA 50309PPPTerm Loan1.0%6/11/20221.8  1.8  1.8  — %
Clark A Miller Sales LTD1205 Tuscany Ct, Alpharetta, GA 30004PPPTerm Loan1.0%6/11/20220.6  0.6  0.6  — %
Lucy McRae1340 E 6th St, Los Angeles, CA 90021PPPTerm Loan1.0%6/11/20221.7  1.7  1.7  — %
The Great Escape Room Tampa LLC300 E Madison St, #301, Tampa, FL 33602PPPTerm Loan1.0%6/11/20224.7  4.7  4.7  — %
154
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Woodrow Orlando LLC DBA The Great Escape Room Orlando525 Woodstead Ct, Longwood, FL 32779PPPTerm Loan1.0%6/11/20222.0  2.0  2.0  — %
Mary Jane Marchisotto dba MJM Advisory, LLC245 E 87th St, Apt 9F, New York, NY 10128PPPTerm Loan1.0%6/11/20220.6  0.6  0.6  — %
Copperfield Investment & Development Company1721 Crystal Ann Ave, Las Vegas, NV 89106PPPTerm Loan1.0%6/12/20221.2  1.2  1.2  — %
Score OKC18509 N Meridian Ave, Edmond, OK 73012PPPTerm Loan1.0%6/12/20223.0  3.0  3.0  — %
Lead Tek Plating27555 SW Boones Ferry Rd, Wilsonville, OR 97070PPPTerm Loan1.0%6/12/202220.0  20.0  20.0  0.01 %
Dan Counts & Associates, Inc.1780 Prescott Ave, Monterey, CA 93940PPPTerm Loan1.0%6/12/20221.1  1.1  1.1  — %
Diamondback Golf Course, LLC500 Harborview Dr, Third Floor, Baltimore, MD 21230PPPTerm Loan1.0%6/12/20227.6  7.6  7.6  — %
Josh Madonick Physical Therapy86 Eucalyptus Rd, Petaluma, CA 94952PPPTerm Loan1.0%6/12/20220.3  0.3  0.3  — %
RHBerman Consulting161 Falcon Rd, Guilford, CT 06437PPPTerm Loan1.0%6/12/20222.1  2.1  2.1  — %
MPYRE HOLDING CO1723 23rd Ave, San Francisco, CA 94122PPPTerm Loan1.0%6/12/20221.7  1.7  1.7  — %
NICK A. DEFILIPPIS, PHD, PC990 Hammond Dr, Ste 575, Sandy Springs, GA 30328PPPTerm Loan1.0%6/12/20221.6  1.6  1.6  — %
Orloff Eye Group, Inc.1 Plume Grass Way, Westhampton, NY 11977PPPTerm Loan1.0%6/15/20224.8  4.8  4.8  — %
Protestant Episcopal Church In The Diocese of California2791 Driscoll Rd, Fremont, CA 94539PPPTerm Loan1.0%6/15/20222.5  2.5  2.5  — %
The Great Escape Room New York LLC1150 University Ave Bldg 5, Ste 12A, Rochester, NY 14607PPPTerm Loan1.0%6/15/20222.2  2.2  2.2  — %
K.S.M Enterprises Inc. DBA Michaels Shell2589 N Lakewood Blvd, Long Beach, CA 90815PPPTerm Loan1.0%6/15/20224.0  4.0  4.0  — %
Bobbie Baron Inc.1633 Broadway, New York, NY 10019PPPTerm Loan1.0%6/15/20222.1  2.1  2.1  — %
DEAFLINK INC57 Ludlow Ln, Palisades, NY 10964PPPTerm Loan1.0%6/15/20221.3  1.3  1.3  — %
Joseph L. Lester, M.D., P.C.2201 Evans Dr, Opelika, AL 36801PPPTerm Loan1.0%6/15/20225.5  5.5  5.5  — %
Weber Brands, LLC50 Pine Hill Rd, Great Neck, NY 11020PPPTerm Loan1.0%6/15/20222.1  2.1  2.1  — %
Robert M. Tudisco, Esq.90 Stebbins Ave, Eastchester, NY 10709PPPTerm Loan1.0%6/16/20221.4  1.4  1.4  — %
Propel A Charter Management Group Inc5200 Irwindale Ave, Irwindale, CA 91706PPPTerm Loan1.0%6/16/202229.8  29.8  29.8  0.01 %
Sunburst Decorative Rock, Inc282 Live Oak Ave, Irwindale, CA 91706PPPTerm Loan1.0%6/16/202218.3  18.3  18.3  0.01 %
155
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Nancy R. Reinish336 Central Park West, New York, NY 10025PPPTerm Loan1.0%6/16/20222.1  2.1  2.1  — %
The Great Escape Room Chicago160 E Grand Ave, #400, Chicago, IL 60611PPPTerm Loan1.0%6/16/20223.9  3.9  3.9  — %
Daydream Reels LLC3615 N Kenilworth St, Arlington, VA 22207PPPTerm Loan1.0%6/16/20221.3  1.3  1.3  — %
C Sensei Group LLC1730 S Federal Hwy, Ste 280, Delray Beach, FL 33483PPPTerm Loan1.0%6/16/20222.1  2.1  2.1  — %
Dockum Research Lab, Inc844 E Mariposa St, Altadena, CA 91001PPPTerm Loan1.0%6/17/20226.4  6.4  6.4  — %
306 Hollywood LLC14 West 17th St., New York, NY 10011PPPTerm Loan1.0%6/17/20221.2  1.2  1.2  — %
Irvine Optometry17585 Harvard Ave,, Ste E, Irvine, CA 92614PPPTerm Loan1.0%6/17/20224.5  4.5  4.5  — %
Double H Farms, LLC15050 Golden Point Ln, Wellington, FL 33414PPPTerm Loan1.0%6/17/202212.9  12.9  12.9  — %
The Nashville Dermatology And Skin Cancer Clinic, P.C.2222 State St, Ste A, Nashville, TN 37203PPPTerm Loan1.0%6/17/20224.4  4.4  4.4  — %
Harper Road Treatment Center1802 Harper Rd, Ste 202, Beckley, WV 25801PPPTerm Loan1.0%6/18/20222.6  2.6  2.6  — %
Sense Education, Inc.1 W 85th St, New York, NY 10024PPPTerm Loan1.0%6/18/202212.0  12.0  12.0  — %
PR Realty Management LLC2207 Coney Island Ave, Brooklyn, NY 11223PPPTerm Loan1.0%6/18/202219.2  19.2  19.2  0.01 %
Roadtrip Productions IncOne Penn Plaza, Ste 3500, New York, NY 10119PPPTerm Loan1.0%6/19/20222.1  2.1  2.1  — %
Hirezi & Hirezi, D.M.D., P.A.4495 Baymeadows Rd, Jacksonville, FL 32217PPPTerm Loan1.0%6/22/20227.4  7.4  7.4  — %
NTR Partners Administration LLC11726 San Vicente Blvd, Ste 290, Los Angeles, CA 90049PPPTerm Loan1.0%6/22/20223.5  3.5  3.5  — %
Bartman Bros.11777 San Vicente Blvd, Ste 600, Los Angeles, CA 90049PPPTerm Loan1.0%6/22/20225.8  5.8  5.8  — %
Kleopatra Productions, Inc.4230 Gardendale, Ste 101, San Antonio, TX 78229PPPTerm Loan1.0%6/22/202220.8  20.8  20.8  0.01 %
PHILIP F. STOTTS4985 Stonehaven Dr., Yorba Linda, CA 92887PPPTerm Loan1.0%6/22/20222.1  2.1  2.1  — %
Rajan Shah MD PA1060 Broad St, Newark, NJ 07102PPPTerm Loan1.0%6/22/20224.1  4.1  4.1  — %
Surco Products, Inc.14001 S Main St, Los Angeles, CA 90061PPPTerm Loan1.0%6/23/20227.5  7.5  7.5  — %
Joel Diaz Training Camp, LLC.40795 Adriatico Ct, Indio, CA 92203PPPTerm Loan1.0%6/23/20221.4  1.4  1.4  — %
John J. McMahon80 Main St, West Orange, NJ 07052PPPTerm Loan1.0%6/24/20222.1  2.1  2.1  — %
156
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)327,446  
Auto Trim Design of Northeastern New York Inc83 Ellison St, Milton, VT 05468PPPTerm Loan1.0%6/24/20227.0  7.0  7.0  — %
Steven Robert Justman aka Steven Justman54 Banksville Rd, North Castle, NY 10504PPPTerm Loan1.0%6/24/20222.0  2.0  2.0  — %
J. Li Brand LTD63 Roebling St, #6L, Brooklyn, NY 11211PPPTerm Loan1.0%6/25/20223.5  3.5  3.5  — %
John Berry Turbidy1501 Silver King Dr, Aspen, CO 81611PPPTerm Loan1.0%6/29/20222.1  2.1  2.1  — %
Hanson & Schwam Public Relations LLC9350 Wilshire Blvd, #315, Beverly Hills, CA 90212PPPTerm Loan1.0%6/29/20220.8  0.8  0.8  — %
Debra L. Holt233 NW 36th St, Miami, FL 33127PPPTerm Loan1.0%6/30/20222.1  2.1  2.1  — %
Kenneth Baer16 Millstone Dr, East Windsor, NJ 08512PPPTerm Loan1.0%6/30/20220.5  0.5  0.5  — %
Model Partner, LLC19 William Close Ct, Warwick, NY 10990PPPTerm Loan1.0%6/30/20222.1  2.1  2.1  — %
Total SBA Guaranteed Accrual Investments$18,804.4  $18,804.4  $20,074.1  6.13 %
SBA Guaranteed Non-Accrual Investments (4b)
MIT LLC(*)11 North Peach ST., Medford, OR 97504Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/31/2042254.7  254.7  254.7  0.08 %
Neville Galvanizing, Inc(*)2983 Grand Ave, Pittsburgh, PA 15225Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/15/2042707.1  707.1  707.1  0.22 %
Kneading Dough LLC dba NY Bagel Cafe & Deli,NY Bagle, New York Bagle,N(*)10287 Okeechobee Blvd #13, Royal Palm Beach, FL 33411Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/23/2029102.5  102.5  102.5  0.03 %
Chavero's Auto(*)1364 E Palma Vista Dr, Palmview, TX 78572Motor Vehicle and Parts DealersTerm LoanPrime plus 6.5%10/11/202912.5  12.5  12.5  — %
Total SBA Guaranteed Non-Accrual Investments1,076.8  1,076.8  1,076.8  0.33 %
Total SBA Guaranteed Investments19,881.2  19,881.2  21,150.9  6.46 %
Total SBA Unguaranteed and Guaranteed Investments443,267.0  443,435.0  426,087.8  130.12 %

157
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Controlled Investments (5) (22)327446
Advanced Cyber Security Systems, LLC(*,#) (6) (21)3880 Veterans Memorial Hwy. Suite 201, Bohemia, NY 11716Data processing, Hosting, and Related Services50% Membership Interest—%—  —  —  —  — %
Term Loan3%Dec 2014381.0  381.0  —  — %
Automated Merchant Services, Inc.(*,#) (7) (21)12230 Forest Hill Blvd., Wellington, FL 33414Data processing, Hosting, and Related Services100% Common Stock—%—  —  —  —  — %
CDS Business Services, Inc.(*,#) (8)1985 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Common Stock—%—  —  4,428.0  2,250.0  0.69 %
Line of Credit10%Dec 20206,560.0  6,560.0  6,560.0  2.00 %
Newtek Technology Solutions, Inc.(*,#) (11)1904 W. Parkside Lane Phoenix, AZ 85027Data processing, Hosting, and Related Services100% Common Stock—%—  —  8,384.0  9,500.0  2.90 %
Line of Credit10%Nov 202810,821.0  10,821.0  10,821.0  3.30 %
Newtek Insurance Agency, LLC(*,#) (13)1981 Marcus Ave., Lake Success, NY 11042Insurance Carriers and Related Activities100% Membership Interest—%—  —  135.0  2,215.0  0.68 %
PMTWorks Payroll, LLC(*,#) (9)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%—  —  1,813.1  —  — %
Term Loan10%Oct 2021435.0  435.0  —  — %
Term Loan10%May 2020750.0  750.0  —  — %
Term Loan12%May 2020500.0  500.0  —  — %
Term Loan10%July 20201,000.0  1,000.0  —  — %
Small Business Lending, LLC(*,#) (12) (21)1981 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%—  —  598.0  6,848.4  2.09 %
Term Loan10%June 2021400.0  400.0  400.0  0.12 %
ADR Partners, LLC dba banc-serv Partners, LLC(*,#) (12)8777 Purdue Rd, Indianapolis, IN 46268Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%—  —  7,085.2  —  — %
International Professional Marketing, Inc.(#) (16)151 W. 30th St., New York, NY 10001Professional, Scientific, and Technical Services100% Common Stock—%—  —  4,000.0  4,150.0  1.27 %
Line of CreditPrime plus 0.5%April 2021750.0  750.0  750.0  0.23 %
SIDCO, LLC(#) (16)151 W. 30th St., New York, NY 10001Professional, Scientific, and Technical Services100% Membership Interest—%—  —  7,119.7  6,649.7  2.03 %
158
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2020
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Controlled Investments (5) (22)327446
Line of CreditPrime plus 0.5%July 2020100.0  375.0  375.0  0.11 %
Newtek Merchant Solutions, LLC(#) (11)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%—  —  16,438.0  115,000.0  35.12 %
Mobil Money, LLC(#) (17)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%—  —  2,980.0  2,500.0  0.76 %
Newtek Business Lending, LLC(*,#) (10)14 East Washington St., Orlando, FL 32801
Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%—  —  31,073.0  34,702.7  10.60 %
Newtek Conventional Lending, LLC(#) (18) (23)1981 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities50% Membership Interest—%—  —  15,770.0  17,464.0  5.33 %
Titanium Asset Management, LLC(*,#) (14)1981 Marcus Ave., Lake Success, NY 11042Administrative and Support ServicesTerm Loan10%March 2021900.0  900.0  315.0  0.10 %
100% Membership Interest—%—  —  —  —  — %
Excel WebSolutions, LLC(*,#) (15)888 East Brighton Ave. Syracuse, NY 13205Data processing, Hosting, and Related ServicesTerm Loan10%Sept 2020159.2  159.2  —  — %
100% Membership Interest——  —  —  —  — %
POS on Cloud, LLC(#) (20)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related ServicesTerm Loan10%Sept 2023850.0  850.0  850.0  0.26 %
50.14% Membership Interest——  —  —  —  — %
Total Controlled Investments$23,606.2  $123,705.2  $221,350.8  67.60 %
Non-Control/Affiliate Investments (22)
EMCAP Loan Holdings, LLC(+,#) (19) (25)1140 Reservoir Ave., Cranston, RI 02920Securities, Commodity Contracts, and Other Financial Investments and Related Activities6.04% Membership Interest—%—  $—  $1,000.0  $1,000.0  0.31 %
Total Investments$466,873.2  $568,140.2  $648,438.6  198.03 %
159
See accompanying notes to consolidated financial statements.

^ Investment has been pledged as collateral under the Securitization Trusts.
* Non-income producing security.
# Fair value determined using significant unobservable inputs.
+ Restricted security.
(1) Newtek values each unguaranteed portion of SBA 7(a) accrual loans (“Loan”) using a discounted cash flow analysis which projects future cash flows and incorporates projections for Loan pre-payments and Loan defaults using historical portfolio data. The data predicts future prepayment and default probability on curves which are based on Loan age. The recovery assumption for each Loan is specific to the discounted valuation of the collateral supporting that Loan. Each Loan’s cash flow is discounted at a rate which approximates a market yield. The Loans were originated under the SBA 7(a) program and conform to the underwriting guidelines in effect at their time of origination. Newtek has been awarded PLP status from the SBA. Portions of these Loans are not guaranteed by the SBA. Individual loan participations can be sold to institutions which have been granted an SBA 750 license. Loans can also be sold as a pool of loans in a security form to qualified investors.
(2) The interest rates in effect on our loans as of June 30, 2020 are based off a Prime Rate equal to 3.25% and 1 month LIBOR equal to 0.16225%.
(3) Newtek values non-accrual SBA 7(a) loans using a discounted cash flow analysis of the underlying collateral which supports the loan. Net recovery of collateral, (fair value less cost to liquidate) is applied to the discounted cash flow analysis based upon a time to liquidate estimate. Modified loans are valued based upon current payment streams and are re-amortized at the end of the modification period.
(4a) Newtek values guaranteed accrual SBA 7(a) loans using the secondary SBA 7(a) market as a reference point. Newtek routinely sells accrual SBA 7(a) loans into this secondary market. Guaranteed portions of SBA 7(a) loans partially funded as of the valuation date are valued using level two inputs as disclosed in NOTE 6—FAIR VALUE MEASUREMENTS.
(4b) Newtek values guaranteed non-accrual loans based on the estimated recovery under the SBA guarantee, which is at cost.
(5) Controlled Investments are disclosed above as equity investments (except as otherwise noted) in those companies that are “Controlled Investments” of the Company as defined in the Investment Company Act of 1940. A company is deemed to be a “Controlled Investment” of Newtek Business Services Corp. if Newtek Business Services Corp. or its subsidiaries owns more than 25% of the voting securities of such company. See NOTE 4—TRANSACTIONS WITH AFFILIATED COMPANIES AND RELATED PARTY TRANSACTIONS in the accompanying notes to the consolidated financial statements for transactions during the six months ended June 30, 2020 with affiliates the Company is deemed to control.
(6) 50% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.), 50% owned by non-affiliate. The term loan is past its original maturity date and currently in default. As such, the fair value of the investment is zero.
(7) 96.11% owned by Wilshire Partners, LLC (a subsidiary of Newtek Business Services Corp.), 3.89% owned by Newtek Business Services Corp.
(8) 50.15% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.) and 49.85% owned by Wilshire Holdings 1, Inc. (a subsidiary of Newtek Business Services Corp.).
(9) 25% owned by The Whitestone Group, LLC, (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.), 65% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.), and 10% owned by Exponential Business Development Co., Inc. (a subsidiary of Newtek Business Services Corp.).
(10) 100% owned by Newtek Business Services Holdco 6, Inc. (a subsidiary of Newtek Business Services Corp.
(11) 100% owned by NBSH Holdings, LLC (a subsidiary of Newtek Business Services Holdco 1, Inc., a subsidiary of Newtek Business Services Corp.).
(12) 100% owned by Newtek LSP Holdco, LLC (a subsidiary of Wilshire Holdings I, Inc. and Newtek Business Services Holdco 5, Inc., both subsidiaries of Newtek Business Services Corp.).
(13) 100% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.).
(14) 50% owned by Exponential Business Development Co., Inc. (a subsidiary of Newtek Business Services Corp.), 47.8% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.) and 2.2% owned by Wilshire New York Advisers II, LLC (a subsidiary of Newtek Business Services Corp.).
(15) 100% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.)
(16) 100% owned by Newtek Business Services Holdco 2, Inc. (a subsidiary of Newtek Business Services Corp.).
(17) 100% owned by Newtek Business Services Holdco 4, Inc. (a subsidiary of Newtek Business Services Corp.).
(18) On May 20, 2019, the Company and its joint venture partner launched Newtek Conventional Lending, LLC (“NCL”) to provide non-conforming conventional commercial and industrial term loans to U.S. middle-market companies and small businesses. NCL is 50% owned by Newtek Commercial Lending, Inc. (a subsidiary of
160
See accompanying notes to consolidated financial statements.

Newtek Business Services Corp.) and 50% owned by Conventional Lending TCP Holding, LLC (a wholly-owned, indirect subsidiary of BlackRock TCP Capital Corp. (NASDAQ:TCPC)). Deemed an investment company under the 1940 Act.
(19) 6.04% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.)
(20) 50.13% owned by Newtek Business Services Holdco 3, Inc. (a subsidiary of Newtek Business Services Corp.) and 49.87% owned by multiple non-affiliates.
(21) Zero cost basis is reflected as the portfolio company was organized by the Company and incurred internal legal costs to organize the entity and immaterial external filing fees which were expensed when incurred.
(22) All of the Company’s investments are in entities which are organized under the Laws of the United States and have a principal place of business in the United States.
(23) Non-qualifying asset under the Investment Company Act of 1940, as amended. Under the Investment Company Act of 1940, as amended, the Company may not acquire any non-qualifying assets unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets. At June 30, 2020, 8.5% of total assets are non-qualifying assets.
(24) The Company’s investments generally are acquired in private transactions exempt from registration under the Securities Act and, therefore, generally are subject to limitations on resale, and may be deemed to be “restricted securities” under the Securities Act. However, unless otherwise indicated, such securities may be sold in certain transactions (generally to qualified institutional buyers) and remain exempt from registration.
(25) The initial acquisition date for EMCAP Loan Holdings, LLC was April 25, 2018.

As of June 30, 2020, the federal tax cost of investments was $568,140,000 resulting in estimated gross unrealized gains and losses of $146,381,000 and $57,700,000, respectively.

161
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets

SBA Unguaranteed Accrual Investments (1) (22)271346
Global Information Technology, Inc(#)1 Cragwood Rd, South Plainfield, NJ 07080Administrative and Support ServicesTerm LoanPrime plus 2.75%12/31/2029$567.5  $567.5  501.2  0.16 %
Nick's Country Kitchen, LLC(#)3 Flanders Rd, Bethlehem, CT 06751Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2044$287.5  $287.5  308.3  0.10 %
Bearwaters Brewing Company(#)101 Park St, Canton, NC 28716Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2044$257.5  $257.5  281.1  0.09 %
Pecos Entertainment LLC dba State Theater(#)421 South Oak St, Pecos, TX 79772Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%12/31/2029$130.0  $130.0  136.8  0.04 %
Spinnaker Vero Inc.(#)983 12th St., Vero Beach, FL 32960Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%12/30/2044$787.5  $787.5  814.1  0.25 %
Kiddie Garden Child Development Center, LLC(#)2809 W. Atkinson Ave, Milwaukee, WI 53209Social AssistanceTerm LoanPrime plus 2.75%12/30/2044$43.0  $43.0  46.9  0.01 %
VIP Construction Group Inc.(#)3332 W Mulberry Drive, Mequon, WI 53092Construction of BuildingsTerm LoanPrime plus 2.75%12/30/2029$62.5  $62.5  65.2  0.02 %
Kwik Stop dba Dilpreet Hundai(#)1001 Sacramento Ave, West Sacramento, CA 95605Gasoline StationsTerm LoanPrime plus 2.75%12/30/2044$242.0  $242.0  254.8  0.08 %
Jauchem & Meeh Inc.dba Gregory Meeh Design;Jermy Chernick Design;J&M S(#)524 Sackett St., Brooklyn, NY 11217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/30/2029$275.0  $275.0  264.9  0.08 %
Home Decor Liquidators, LLC dba Home Decor Outlets;Home Decor Mattress(#)4187 Pleasant Hill Rd, Duluth, GA 30096Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/30/2029$987.5  $987.5  897.7  0.28 %
Destination Hope, Inc. and The Academy for Addiction Professionals, In(#)6555 NW 9th Ave, Fort Lauderdale, FL 33309Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2044$375.0  $375.0  397.1  0.12 %
Larry J. Frick dba L & S Trucking(#)157571 E Wausau Ave, Wausau, WI 54403Truck TransportationTerm LoanPrime plus 2.75%12/30/2029$49.5  $49.5  46.2  0.01 %
Vance Ewing LLC(#)22940 Harlan Ln, St. Robert, MO 65584Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/30/2029$112.5  $112.5  117.3  0.04 %
Destination Hope, Inc, TrilogyTreatment & Wellness Center, Inc(#)6555 NW 9th Ave, Fort Lauderdale, FL 33309Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2029$363.8  $363.8  324.5  0.10 %
American Landscaping Company and Ground Effects Landscaping, LLC(#)6151 A St., Anchorage, AK 99518Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044$646.7  $646.7  713.7  0.22 %
Mankamana Holdings, LLc dba Perfect Brow Art, Mankamana Holdings, LLC(#)7302 Kirby Ave, Lubbock, TX 79424Gasoline StationsTerm LoanPrime plus 2.75%12/27/2029$137.5  $137.5  132.1  0.04 %
Irony LLC dba Mulberry’s Garment Care(#)2579 Fairview Ave North, Roseville, MN 55113Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/27/2029$1,042.5  $1,042.5  925.1  0.29 %
American Landscaping Company(#)6151 A St., Anchorage, AK 99518Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029$326.3  $326.3  321.3  0.10 %
162
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Pro-Tek Pest Control, Inc, Pro-Tek Nurseries, LLC, Pro-Tek Irrigation(#)8712 60th Terrace South, Lake Worth, FL 33467Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029$186.3  $186.3  170.7  0.05 %
313 Air Duct LLC Dba Jouny Cleaning Services, M & J Restoration Emerge(#)25150 W Warren Ave, Dearborn Heights, MI 48127Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044$250.0  $250.0  269.6  0.08 %
313 Air Duck LLC dba Jouny Cleaning Services, M & J Restoration Emerge(#)25150 W Warren Ave, Dearborn Heights, MI 48127Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029$162.0  $162.0  151.0  0.05 %
Tatoo Tony's Under My Skin LLC(#)73 Memorial Parkway, Atlantic Highlands, NJ 07716Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/27/2044$100.0  $100.0  112.5  0.03 %
QXC Communications, Inc(#)4541 N Dixie Hwy, Boca Raton, FL 33431TelecommunicationsTerm LoanPrime plus 2.75%12/27/2029$525.0  $525.0  464.5  0.14 %
K&S Hardware mLLC dba Gopher Ace(#)1865 Wayzata Blvd, Long Lake, MN 55356Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%12/27/2029$62.5  $62.5  61.3  0.02 %
Watearth Inc(#)3371 Glendale Blvd Ste 208, Los Angeles, CA 90039Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/27/2029$46.8  $46.8  41.2  0.01 %
A Family Member Homecare Group Inc, A Family Member Homecare Holdings,(#)11788 Sample Rd, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/27/2044$118.8  $118.8  125.4  0.04 %
Protek Pest Control, Inc. Pro-tek Nurseries LLC, Pro-Tek Irrigation(#)8712 60TH TER South, Lake Worth, FL 33467Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2044$142.5  $142.5  157.4  0.05 %
Icebox Cafe L.C. and Icebox Pantry, LLC(#)219 NE 3rd St., Hallendale Beach, FL 33009Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/26/2030$242.9  $242.9  229.6  0.07 %
Bhatti LLC 2, Bhatti LLC(#)1451 Coral Ridge Ave, Coralville, IA 52241Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/26/2029$112.5  $112.5  101.3  0.03 %
Ink! Coffee Company(#)2851 Larimer St., Denver, CO 80205Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/24/2029$515.3  $515.3  454.3  0.14 %
Richwood Enterprises, LLC, Richwood Transport LLC, Richwood Transport(#)2564 Branch St., Middleton, WI 53562Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/24/2029$134.2  $134.2  137.4  0.04 %
Synergistic-Designs, LLC(#)493 Wilson Mill Rd, New Wilmington, PA 16142Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/24/2029$7.5  $7.5  6.6  — %
Aitheras Aviation Group, LLC and International Aviation Sales, Ltd.(#)2301 N Marginal Rd, Cleveland, OH 44114Air TransportationTerm LoanPrime plus 2.75%12/23/2029$527.5  $527.5  481.7  0.15 %
Food Civilization Services LLC and 1701 W 15th St LLC(#)1701 W 15th St, Houston, TX 77008Real EstateTerm LoanPrime plus 2.75%12/23/2044$150.0  $150.0  167.3  0.05 %
512 E 11th Street LLC and Big Brand Management Ltd. Co.(#)512 E 11th St, Houston, TX 77008Real EstateTerm LoanPrime plus 2.75%12/23/2044$333.8  $333.8  366.1  0.11 %
163
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
The Lamkin Group LLC and National Championship Enterprises LLC(#)901 Lily Creek Rd, Ste 102, Louisville, KY 40243Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/23/2029$667.5  $667.5  589.2  0.18 %
Chris Farley DVM PA. dba Farley Veterinary Clinic(#)6487 Taft St., Hollywood, CA 33024Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/2029$13.5  $13.5  14.2  — %
Freedom Enterprises, Inc(#)2431 14th Ave SE, Watertown, SD 57201Truck TransportationTerm LoanPrime plus 2.75%12/20/2029$325.0  $325.0  295.5  0.09 %
Shaddai Aesthetics Inc(#)706 W 34th St., Austin, TX 78705Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/20/2029$18.9  $18.9  16.7  0.01 %
ACC International LLC(#)200 N Furnace St, Birdsboro, PA 19508Administrative and Support ServicesTerm LoanPrime plus 2.75%12/20/2044$322.5  $322.5  335.2  0.10 %
Romain Tower Inc.(#)215 S Persimmon St, Tomball, TX 77375Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/20/2044$897.5  $897.5  923.6  0.29 %
Macon Arts Center LLC(#)4570 Pio Nono Ave, Macon, GA 31206Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/20/2044$625.0  $625.0  684.8  0.21 %
Freedom Enterprises, Inc - New RE company to be formed(#)2431 14th Ave SE, Watertown, SD 57201Truck TransportationTerm LoanPrime plus 2.75%12/20/2044$207.5  $207.5  226.1  0.07 %
La Tradicion Cubana Inc(#)1336 SW 8th St., Miami, FL 33135Miscellaneous Store RetailersTerm LoanPrime plus 6.5%12/20/2029$12.5  $12.5  12.8  — %
United Capital Group LLC(#)23022 La Cadena Dr, Laguna Hills, CA 92653Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/19/2029$322.0  $322.0  295.7  0.09 %
RWBB LLC(#)4120 7th Ave, Kenosha, WI 53140Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/19/2029$16.7  $16.7  15.6  — %
Nebulos, LLC(#)5428 Twilight Way, Parker, CO 80134Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/19/2029$62.5  $62.5  59.8  0.02 %
New Casa Technologies, LLC(#)7928 S 70th Lane, Laveen, AZ 85339Truck TransportationTerm LoanPrime plus 2.75%12/19/2029$8.3  $8.3  7.4  — %
MBK IT Services Inc.(#)626 Trailwood Ct., Garland, TX 75043Nonstore RetailersTerm LoanPrime plus 2.75%12/19/2029$21.6  $21.6  22.7  0.01 %
Kuros, LLC(#)21221 Baron Lake Drive, Cedaredge, CO 81413AccommodationTerm LoanPrime plus 2.75%12/19/2044$397.5  $397.5  446.2  0.14 %
Kuros, LLC(#)21221 Baron Lake Drive, Cedaredge, CO 81413AccommodationTerm LoanPrime plus 2.75%3/19/2045$9.3  $9.3  10.5  — %
GDIM Enterprises Inc dba AAMCO(#)1657 Whiskey Rd., Aiken, SC 29803Repair and MaintenanceTerm LoanPrime plus 2.75%12/19/2029$19.5  $19.5  18.4  0.01 %
Skyfall LLC dba EZ Self Storage(#)2705 US Hwy 45 N, Henderson, TN 38340Real EstateTerm LoanPrime plus 2.75%12/18/2044$146.3  $146.3  164.4  0.05 %
Premier Gaming Solutions Inc(#)17 South Grand Ave, Passedena, CA 91105Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/18/2029$11.3  $11.3  11.8  — %
Louisiana Apple, LLC, Mountain Apple, LLC, Kentucky Apple, LLC(#)3909 Ambassador Caffrey Pkwy Bldg 1, Lafayette, LA 70503Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/18/2029$900.0  $900.0  793.6  0.25 %
164
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
The Burlington Academy of Learning LLC(#)10 Covey Rd, Burlington, CT 06013Social AssistanceTerm LoanPrime plus 2.75%12/18/2029$50.0  $50.0  52.5  0.02 %
Sago Technologies Inc. dba Jak Ecig(#)785 Woodfern Drive, Hampshire, IL 60140Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/17/2029$235.0  $235.0  246.9  0.08 %
Pamela Bruner Enterprises, LLC(#)4370 Old US 25 Hwy, Zinconia, NC 28790Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/17/2029$62.5  $62.5  57.6  0.02 %
HADD Corp(#)364 Rugby Rd, Cedarhurst, NY 11516Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/17/2029$12.5  $12.5  12.8  — %
J and K Project Management Consultants LLC(#)350 Mc Donnell St, Lewisville, TX 75057Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2044$313.4  $313.4  350.0  0.11 %
Signco America LP & Sparkle corporation Inc.(#)7938 Wright Rd, Houston, TX 77041Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/16/2044$1,250.0  $1,250.0  1,405.2  0.44 %
Farain Saremi dba USA Produce(#)461 G St., Los Banos, CA 93635Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/16/2044$475.0  $475.0  511.5  0.16 %
J and K Project Management Consultants dba A. C. T. Construction(#)350 Mc Donnell St, Lewisville, TX 75057Construction of BuildingsTerm LoanPrime plus 2.75%12/16/2029$207.8  $207.8  215.2  0.07 %
Nulane Entertainment LLC(#)4100 W. Alameda Ave # 300, Burbank, CA 91505Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/2029$7.5  $7.5  6.6  — %
Dr Steven J Seidel(#)42 Campeau Place, Bergenfield, NJ 07621Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/13/2029$81.3  $81.3  71.8  0.02 %
WURA LLC dba Dickey's Barbecue Pit(#)4325 E. University Drive Ste 40, Prosper, TX 75078Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/13/2029$90.8  $90.8  82.1  0.03 %
Math Enrichment, LLC(#)1009 E Capitol Expressway, San Jose, CA 95121Educational ServicesTerm LoanPrime plus 2.75%12/13/2029$200.0  $200.0  176.3  0.05 %
Jen Macias LLC dba Duende(#)2301 NW Thurman St., Portland, OR 97210Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/2029$8.1  $8.1  7.1  — %
The Crane Guys, LLC(#)14480 Alondra Blvd, La Mirada, CA 90638Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/13/2029$1,250.0  $1,250.0  1,172.8  0.36 %
The Floor Covering Warehouse, Inc(#)112 Orchard St., Stamford, CT 06902Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/13/2044$240.0  $240.0  269.8  0.08 %
Essex Indoor Golf Center LLC(#)23 Saybrook Rd, Essex, CT 06426Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/13/2029$78.8  $78.8  73.6  0.02 %
Belle Properties Northwest, Inc.(#)223 Ave B, Snohomish, WA 98290Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/12/2044$131.3  $131.3  142.8  0.04 %
Stockton TRI Industries, LLC(#)2141 E Anderson St., Stockton, CA 95205Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/12/2044$1,107.5  $1,107.5  1,197.0  0.37 %
Joyner5, Inc.dba British Swim School(#)1000 Settlers Landing Court, Wake Forest, NC 27587Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/12/2029$22.5  $22.5  19.8  0.01 %
Abylex, Inc and Worpex LLC(#)7473 Reese Rd #2, Sacremento, CA 95828Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/12/2044$95.0  $95.0  91.3  0.03 %
165
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Chambers Funeral Home & Crematorium PA & Riverdale Park Crematory, LLC(#)5801 Cleveland Ave, Riverdale, MD 20737Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/11/2044$300.0  $300.0  337.3  0.10 %
Vaughn Chiropractic, PLLC dba Catalyst Chiropractic and Rehab(#)10904 Baltimore St NE, Blaine, MN 55449Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/11/2029$41.5  $41.5  36.7  0.01 %
CCD Construction Services LLC dba Clearwater Outdoor Design, CCD Exca(#)175 W Borgfeld Drive, San Antonio, TX 78260Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/11/2044$112.5  $112.5  121.0  0.04 %
Professional Plumbing Services of Nela, LLC(#)99 Plum St., West Monroe, LA 71292Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/11/2029$18.0  $18.0  17.8  0.01 %
Ciel Du Mel LLC dba Lala's Creamery(#)134 Petaluma Blvd North, Petalumaca, CA 94952Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/10/2029$16.5  $16.5  15.1  — %
Helping Hands Group Daycare dba Dawn to Dusk Learning and Child Care L(#)10 Tremont Rd, Tremont, PA 17981Social AssistanceTerm LoanPrime plus 2.75%12/10/2044$39.0  $39.0  42.3  0.01 %
SLCP Transport, LLC dba Aamco(#)1407 Lomaland Drive, El Paso, TX 79935Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/2029$62.5  $62.5  59.8  0.02 %
Elita 7, LLC and Behavioral Nutrition Inc.(#)16 Marble St., Worchester, MA 01603Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/9/2029$300.0  $300.0  291.4  0.09 %
Eagle Eye Truck Lines LLC and Eagle Eye Logistics LLC(#)560 56th St SW, Grand Rapids, MI 49548Truck TransportationTerm LoanPrime plus 2.75%12/6/2029$1,100.0  $1,100.0  983.3  0.31 %
Bay Area Metal Fabricarion LLC(#)510 -512 Stone Rd, Benicia, CA 94510Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/6/2029$136.8  $136.8  127.2  0.04 %
The Stout Group LLC(#)10850 NW 138th St, Hialeah Gardens, FL 33018Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/6/2029$240.0  $240.0  222.4  0.07 %
DB Talak LLC(#)2018 SE 6th Ave, Portland, OR 97214Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/6/2044$153.5  $153.5  172.6  0.05 %
Scott's Hardware, Inc., dba Medford Inc(#)200 Tuckerton Rd, Medford, NJ 08055Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 6.5%12/6/2029$12.5  $12.5  12.8  — %
Mazhar Family, Inc dba Edible Arrangements(#)601 Portion Rd, #17, Lake Ronkonkoma, NY 11779Nonstore RetailersTerm LoanPrime plus 2.75%12/6/2029$67.5  $67.5  60.0  0.02 %
Glen Lamb dba Lambs Tree And Plant Health Care(#)413 Pond Meadow Rd, Westbrook, CT 06498Administrative and Support ServicesTerm LoanPrime plus 2.75%12/6/2029$18.8  $18.8  17.5  0.01 %
Natalie Enterprise Inc(#)2500 Grand Ave, Billings, MT 59102Administrative and Support ServicesTerm LoanPrime plus 2.75%12/6/2029$20.3  $20.3  21.3  0.01 %
Wolf Pack, LLC(#)939 South 25th East, Ste. 115, Ammon, ID 83406Management of Companies and EnterprisesTerm LoanPrime plus 2.75%3/6/2030$224.5  $224.5  206.3  0.06 %
Ohanyan LLC dba Nestle Toll House Caf'e By Chip(#)14006 Riverside Dr. #9270, Sherman Oaks, CA 91423Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/6/2029$33.3  $33.3  31.3  0.01 %
Clearwater Engineering Inc(#)301 N River St., Derby, KS 67037Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/5/2029$590.0  $590.0  548.6  0.17 %
166
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Used Tire Express 1, Corp(#)437 N. Battlefield, Chesapeake, VA 23320Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/5/2029$86.3  $86.3  78.8  0.02 %
Standard Capital Corp(#)2377 Wessington Drive, Virginia Beach, VA 23456Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%12/5/2029$12.5  $12.5  12.8  — %
Hook Line and Schooner Vinings LLC(#)400 West Village Way #3009, Smyrna, GA 30008Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/4/2029$22.5  $22.5  21.1  0.01 %
Soto Injury Law Firm, PA and My Attorney Inc(#)2050 Capital Circle NE Ste B, Tallahassee, FL 32308Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/3/2029$62.5  $62.5  55.2  0.02 %
Mega Sales Detergent Distributor, LLC(#,^)1 Ackerman Ave, Clifton, NJ 07011Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%11/29/2029$50.0  $50.0  44.1  0.01 %
Loading Arms Plus Inc(#)5401 Mitchelldale St., Ste B4, Houston, TX 77092Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/27/2029$79.3  $79.3  70.9  0.02 %
Behind the Scenes Chicago, LLC dba Paramount Events(#)1750 W Lake St., Chicago, IL 60612Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2029$464.6  $464.6  427.2  0.13 %
Keith E Burks dba 3B's Chalk It Up(#)22540 Foothill Boulevard, Hayward, CA 94541Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/27/2029$13.5  $13.5  13.2  — %
American Bio Source, LLC dba Dieselgreen Fuels(#)2522 N Hwy 287, Decatur, TX 76234Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%11/27/2029$57.3  $57.3  60.2  0.02 %
Codorado, Inc. dba Dentalmart(#,^)10 Glorieta Rd, Sante Fe, NM 87508Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/27/2029$10.5  $10.5  9.3  — %
Alice's Tea Cup, ATC !! LLC and ATC 111, LLC(#)102 W 73rd St., New York, NY 10023Food ManufacturingTerm LoanPrime plus 2.75%11/27/2029$272.5  $272.5  243.4  0.08 %
Roots'n Shoots, LLC(#)86 Boston Rd, Chelmsford, MA 01824Administrative and Support ServicesTerm LoanPrime plus 2.75%11/27/2029$10.7  $10.7  9.4  — %
Haversack Holdings LLC(#)101 S Tryon St., Charlotte, NC 28280Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/27/2029$125.0  $125.0  110.2  0.03 %
Kanti Group Inc, Marina 84 Sport Bar & Grill LLC and Pub 52 Sports(#)2440 Wesr State Rd 84, Fort Lauderdale, FL 33312Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2029$150.0  $150.0  133.8  0.04 %
ADPM Inc.(#,^)77 Main St, Amesbury, MA 01913Real EstateTerm LoanPrime plus 2.75%11/26/2029$47.5  $47.5  41.9  0.01 %
Ultra Flow Dispense, LLC(#)820 Prospect Hill Rd, Windsor, CT 06095Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/26/2029$102.5  $102.5  91.0  0.03 %
Ford Custom Renovation LLC(#,^)405 Broadway St., Muncy, PA 17756Construction of BuildingsTerm LoanPrime plus 2.75%11/26/2029$8.3  $8.3  7.3  — %
Fullmer's Landscaping, Inc.(#)9547 W Third St., Dayton, OH 45417Administrative and Support ServicesTerm LoanPrime plus 2.75%11/26/2029$195.3  $195.3  178.2  0.06 %
B.S Carrier LLC and United Truck & Trailer Repair LLC(#)3716 Garman Rd, Salem, VA 24153Truck TransportationTerm LoanPrime plus 2.75%11/25/2029$236.3  $236.3  232.2  0.07 %
Hurricane Group, Inc.dba Crate Club Group(#)101 San Patricio Ave, Ste 860, Guaynabo, PR 00968Other Information ServicesTerm LoanPrime plus 2.75%11/25/2029$50.0  $50.0  44.1  0.01 %
S&C Cookies, Inc(#,^)1969 Jericho Turnpike, East Northport, NY 11731Miscellaneous Store RetailersTerm LoanPrime plus 2.75%11/22/2029$56.3  $56.3  49.7  0.02 %
167
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Peanut Butter & Co Inc(#,^)119 West 57th St., Ste 300, New York, NY 10019Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%11/22/2029$187.5  $187.5  165.3  0.05 %
Place Vendome Holding Co. Inc.dba R&F Marketing(#)308 Glenwood Rd, Swainsboro, GA 30401Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/22/2044$434.7  $434.7  433.0  0.13 %
Place Vendome Holding Co Inc.dba R&F Marketing(#)610 East Main St., Swainsboro, GA 30401Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/22/2029$236.2  $236.2  225.5  0.07 %
A&N Design Studios Inc dba Door3 Business Application(#)22 Cortlandt St., New York, NY 10007Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/2029$122.5  $122.5  113.1  0.04 %
Cum Laude Enterprises, LLC(#)15218 Penn Hills Lane, Houston, TX 77062Nonstore RetailersTerm LoanPrime plus 2.75%11/22/2029$19.2  $19.2  18.4  0.01 %
Best Choice Meats, Inc,(#,^)12646 S Springfield Ave, Alsip, IL 60803Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%11/22/2044$1,344.7  $1,344.7  1,458.1  0.45 %
ZUMI LLC dba Allstate Insurance(#,^)1537 W 79th St, Chicago, IL 60620Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/22/2029$12.0  $12.0  12.3  — %
Weeping Willow Kennel Inc(#,^)6041 Hammond School Rd, Salisbury, MD 21804Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/21/2029$4.5  $4.5  4.7  — %
Coral Springs Family Wellness LLC(#)2902 North University Drive, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/21/2030$59.1  $59.1  52.9  0.02 %
Semplice Cafe LLC(#,^)209 N Main St., Breckenridge, CO 80424Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/2029$18.0  $18.0  16.2  0.01 %
The Rollin' Trapp LLC(#,^)1731 Prevatt Rd, Dothan, AL 36301Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/2029$8.0  $8.0  7.5  — %
Pen's Electric Company(#)504 Fairfax Ave, Nashville, TN 37212Specialty Trade ContractorsTerm LoanPrime plus 6.5%11/21/2029$12.5  $12.5  12.8  — %
Cobb Roofing LLC(#,^)8101 NW 10th St, Oklahoma City, OK 73127Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/21/2029$53.7  $53.7  47.3  0.01 %
Cable Management LLC(#,^)290 Pratt St., Meriden, CT 06450Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/20/2029$137.5  $137.5  127.2  0.04 %
AMH Construction, Inc.(#,^)30 South Ivey Lane, Orlando, FL 32811Construction of BuildingsTerm LoanPrime plus 2.75%11/20/2029$75.0  $75.0  73.9  0.02 %
AMH Construction, Inc.(#,^)30 South Ivey Lane, Orlando, FL 32811Construction of BuildingsTerm LoanPrime plus 2.75%11/20/2044$275.0  $275.0  299.6  0.09 %
AD Learning Group, LLC dba The Learning Experience & AD Learning NH LL(#,^)181 Shunpike Rd, Cromwell, CT 06416Social AssistanceTerm LoanPrime plus 2.75%11/18/2029$137.5  $137.5  121.2  0.04 %
Ryan & Selena LLC dba Head of the Class Learning Center(#,^)1836 Kathleen Rd, Lakeland, FL 33805Social AssistanceTerm LoanPrime plus 2.75%11/18/2044$445.5  $445.5  477.1  0.15 %
SSH Princeton LLC dba Stumpy's Hatchet House of Princeton(#)745 Alexander Rd, Ste 1-3, Princeton, NJ 08540Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/15/2030$91.0  $91.0  80.4  0.02 %
168
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
MToxins Venom Lab LLC(#,^)717 Oregon St., Oshkosh, WI 54902Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/15/2044$101.3  $101.3  106.3  0.03 %
Champions Of Diversity Media Inc dba Champions of Diversity: Politics(#,^)5100 Transamerica Drive, Columbus, OH 43228Administrative and Support ServicesTerm LoanPrime plus 2.75%11/15/2044$72.5  $72.5  79.4  0.02 %
Lindsley Excavating LLC(#,^)92 Town Line Rd, Fulton, NY 13069Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/15/2029$192.5  $192.5  186.3  0.06 %
The Pinnacle Development Group Inc dba The Goddard School(#)105 Springside Drive, Akron, OH 44333Social AssistanceTerm LoanPrime plus 6.5%11/14/2029$12.5  $12.5  12.8  — %
Rockin Robin Music Lessons LLC(#,^)9029 Hwy 6 Ste 160, Missouri City, TX 77459Educational ServicesTerm LoanPrime plus 2.75%11/14/2029$9.3  $9.3  8.2  — %
Bucklin Sumner & Associates LLC dba Bucklin Sumner & Associates LLC(#)650 NE Holladay St. Ste 1600, Portland, OR 97232Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 6.5%11/14/2029$12.5  $12.5  12.8  — %
Winning Sales Plan Inc(#,^)17811 Fairhaven Gateway, Cypress, TX 77433Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/14/2029$50.0  $50.0  52.5  0.02 %
Sean McNamara(#)5639 Wood Lane, Allentown, PA 18106Nonstore RetailersTerm LoanPrime plus 6.5%11/14/2029$12.5  $12.5  12.8  — %
Ninth Avenue, LLC(#)5000 W Empire Place, Rm 916, Sioux Falls, SD 57106Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/14/2030$62.5  $62.5  56.6  0.02 %
Adrienne's Gourmet Foods, Imagine Baking, Inc(#,^)1034 Hancock St., Sandusky, OH 44870Food ManufacturingTerm LoanPrime plus 2.75%11/12/2029$529.4  $529.4  523.1  0.16 %
Two Roses Salon 1, Inc.dba National Fluid Power Institute and NFPI(#,^)908 S Jefferson St., Amarillo, TX 79101Educational ServicesTerm LoanPrime plus 2.75%11/12/2029$395.0  $395.0  371.1  0.12 %
Ameen Enterprises, LLC dba Bargain Town(#,^)1111 E Washington St., Stephenville, TX 76401Gasoline StationsTerm LoanPrime plus 2.75%11/12/2029$125.0  $125.0  127.5  0.04 %
Adrienne's Gourmet Foods, Imagine Baking Inc(#,^)1034 Hancock St., Sandusky, OH 44870Food ManufacturingTerm LoanPrime plus 2.75%11/12/2044$406.2  $406.2  456.7  0.14 %
Potomac Nail Spa Corporation(#,^)14901 Potomac Town Place, Woodbridge, VA 22191Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/12/2029$52.1  $52.1  46.2  0.01 %
Steven French dba French Woodworking(#,^)1101 Horizon Drive Ste 101, Fairfield, CA 94533Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/12/2044$62.5  $62.5  70.3  0.02 %
SSD Designs LLC(#,^)486 Vance St, Forest City, NC 28043Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%1/12/2030$350.0  $350.0  330.8  0.10 %
NJ Floats, Inc(#)327 Rte 202/206, Bedminster Township, NJ 07921Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%5/12/2045$26.3  $26.3  29.5  0.01 %
James Richard Farkas Jr. dba Lil Black Bear Inn(#,^)8072 State Rd 46 E, Nashville, TN 47448AccommodationTerm LoanPrime plus 2.75%11/12/2044$109.3  $109.3  115.5  0.04 %
HH Wireless Connect LLC(#,^)48267 Deer Trail Drive, Canton, MI 48187Electronics and Appliance StoresTerm LoanPrime plus 2.75%11/12/2029$8.3  $8.3  7.3  — %
169
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Integrated Vascular Services LLC(#,^)1452 Franklin Ave, Salem, OR 44460Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/8/2029$80.0  $80.0  71.0  0.02 %
Airbar Inc(#,^)5 N Station Plaza, Great Neck, NY 11021Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/8/2029$21.6  $21.6  19.1  0.01 %
East River Plumbing, LLC(#,^)997 E Loop, Priest River, ID 83856Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/8/2044$50.0  $50.0  54.4  0.02 %
Link Rec of Minong, Inc(#,^)304 Business Hwy 53, Minong, WI 54859Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/7/2044$393.8  $393.8  431.5  0.13 %
WE MAKE DIFFERENCES, LLC(#,^)1380 Main St., Waltham, MA 02451Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/7/2029$6.3  $6.3  6.3  — %
Link Rec of Minong, Inc(#,^)304 Business Hwy 53, Minong, WI 54859Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/7/2029$856.3  $856.3  764.8  0.24 %
Dear Valley Sports Shop LLC(#)507 Bamboo Rd, Boone, NC 28607Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 6.5%11/7/2029$12.5  $12.5  12.8  — %
Lake Pontchartrain Properties, LLC(#,^)6001-6201 France Rd, New Orleans, LA 70126AccommodationTerm LoanPrime plus 2.75%11/7/2044$1,150.0  $1,150.0  1,292.8  0.40 %
21 Air, LLC, 21 Cargo Inc, JW Aviation LLC, Freighter 27044 LLC(#,^)3650 NW 82 Ave, Doral, FL 33166Air TransportationTerm LoanPrime plus 2.75%11/6/2029$1,025.0  $1,025.0  903.8  0.28 %
C&P Trading and Sales Inc(#,^)950 Peninsula Corporate Cir, Boca Raton, FL 33487Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%10/31/2029$249.1  $249.1  219.8  0.07 %
Sunburst Trout Farm, LLC(#,^)314 Industrial Park Drive, Waynesville, NC 28786Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%10/31/2044$232.4  $232.4  257.9  0.08 %
11900 Marshfield Station Inc(#,^)11900 S Marshfield Ave, Calumet Park, IL 60827Gasoline StationsTerm LoanPrime plus 2.75%10/31/2044$1,250.0  $1,250.0  1,370.0  0.43 %
D & H Construction Services, Inc.(#,^)711 Hospital St., Richmond, VA 23219Construction of BuildingsTerm LoanPrime plus 2.75%10/31/2029$139.2  $139.2  127.5  0.04 %
Automotive Solutions, LLC(#,^)1910 W. Dupont Rd, Fort Wayne, IN 46818Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/2044$297.2  $297.2  322.0  0.10 %
Sunburst Trout Farm, LLC(#,^)314 Industrial Park Dr, Waynesville, NC 28786Fishing, Hunting and TrappingTerm LoanPrime plus 2.75%10/31/2029$67.1  $67.1  70.5  0.02 %
Automotive Standard, LLC(#,^)4028 Coldwater Rd, Fort Wayne, IN 46805Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/2044$137.3  $137.3  149.9  0.05 %
Mariscos El Oceano, Inc.(#,^)5960 S Archer Ave, Chicago, IL 60638Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2044$124.9  $124.9  137.9  0.04 %
Maine Service Corp(#,^)59-24 22nd St., Maspeth, NY 11378Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%10/31/2029$124.3  $124.3  130.6  0.04 %
Guru Kirpa, Inc(#,^)3006 New Castle Ave, New Castle, DE 19720Gasoline StationsTerm LoanPrime plus 2.75%10/31/2044$195.3  $195.3  206.0  0.06 %
MJ Group, Inc(#,^)26691 Loma Verde, Mission Viejo, CA 92691Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/2029$21.2  $21.2  18.8  0.01 %
Dub Industries LLC(#,^)4112 Veiled Falls Drive, Pflugerville, TX 78660Nonstore RetailersTerm LoanPrime plus 2.75%10/31/2029$70.6  $70.6  68.0  0.02 %
170
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Fave Realty, Inc.(#,^)217-84 Hempstead Ave, Jamaica, NY 11429Real EstateTerm LoanPrime plus 2.75%10/31/2044$116.9  $116.9  131.4  0.04 %
Kerzner Contracting Corp(#,^)1620 Ocean Ave, Bohemia, NY 11716Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/31/2029$111.9  $111.9  98.7  0.03 %
Jessie's Radiator and Automotive(#,^)1777 N Ventura Ave, Ventura, CA 93001Repair and MaintenanceTerm LoanPrime plus 2.75%10/31/2029$15.7  $15.7  15.0  — %
The Committed Pig LLC(#,^)28 West Park Place, Morristown, NJ 07090Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2029$277.2  $277.2  291.3  0.09 %
L& F Gullo Service Corp(#,^)520 Main St, Westbury, NY 11590Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%10/31/2029$174.0  $174.0  153.4  0.05 %
ABC Sandblasting, LLC(#,^)14029 56th St. NW, Williston, ND 58801Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/31/2029$243.6  $243.6  219.8  0.07 %
Paul Wintner dba P & R Props(#,^)23901 Calabasas Rd, Calabasas, CA 91302Miscellaneous Store RetailersTerm LoanPrime plus 2.75%10/30/2029$55.9  $55.9  49.3  0.02 %
Blue Agave & Brothers, LLC dba Blue Apachie Mexican Restaurant and Blu(#,^)905 Savoy Rd, Youngsville, LA 70592Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/30/2029$87.0  $87.0  77.8  0.02 %
BGB Leasing Inc and BGB Leasing Co.(#,^)50 Industrial Park Rd, Princeton, KY 42445Truck TransportationTerm LoanPrime plus 2.75%10/30/2029$1,153.6  $1,153.6  1,082.5  0.34 %
BGB Leasing Co.(#,^)50 Industrial Park Rd, Princeton, KY 42445Truck TransportationTerm LoanPrime plus 2.75%10/30/2044$89.9  $89.9  101.1  0.03 %
Plastic Depot, Inc(#,^)363 East Alondra Blvd, Gardena, CA 90248Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%10/30/2029$157.4  $157.4  138.9  0.04 %
Lightning Strike Distributing, LLC dba Jedidiah's Jerky & Gournet Snac(#,^)9912 Arizona Dr, Mohave Valley, AZ 86440Miscellaneous Store RetailersTerm LoanPrime plus 2.75%10/30/2029$64.6  $64.6  57.9  0.02 %
OWL Inc,(#,^)5300 S Orange Blossom Trail, Orlando, FL 32839Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%10/28/2029$211.3  $211.3  186.3  0.06 %
Marnon Vending LLC dba Naturals 2 Go San Antonio(#,^)6713 Biscay Hbr, San Antonio, TX 78249Nonstore RetailersTerm LoanPrime plus 2.75%10/28/2029$7.9  $7.9  7.5  — %
Corple Enterprises, Inc(#,^)17887 US-380, Ponder, TX 76259Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%10/28/2029$155.9  $155.9  156.5  0.05 %
Proximo Consulting Services Inc(#,^)2500 Plaza 5, Jersey City, NJ 07311Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/28/2029$74.6  $74.6  65.8  0.02 %
Perisseia Physicians LLC(#,^)1644 Lebanon Rd, Lawrenceville, GA 30043Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/28/2044$399.4  $399.4  419.2  0.13 %
Diamond Solutions LLC(#,^)8321 E Gelding Drive, Scottsdale, AZ 85260Machinery ManufacturingTerm LoanPrime plus 2.75%10/25/2029$12.7  $12.7  11.2  — %
Four Ace Electrical Services Corporation(#,^)3723 Far Niente Way, Sacramento, CA 95834Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/25/2029$11.9  $11.9  10.7  — %
Landmark Ventures USA, Inc(#,^)475 Park Ave S, 25th Fl, New York, NY 10016Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%10/25/2029$104.4  $104.4  92.1  0.03 %
171
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
iLoka Inc. dba NewCloud Networks(#,^)160 Inverness Drive W Ste 150, Englewood, CO 80112Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%10/25/2029$99.4  $99.4  104.5  0.03 %
Exclusive Physicians PLLC dba EPIC Primary Care,PLLC(#,^)18463 Livernois Ave, Detroit, MI 48221Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/25/2029$124.3  $124.3  110.5  0.03 %
IV Purpose Inc(#)1489 Fulton St., Brooklyn, NY 11216Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/25/2029$26.1  $26.1  24.3  0.01 %
Jbang LLC, WM Bang LLC, Bang Investments LLC(#)125 Westchester Ave, White Plains, NY 10601Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/2029$20.0  $20.0  21.0  0.01 %
Sultan's Palace L.L.C.(#,^)8125 West Sahara Ave, Ste 300, Las Vegas, NV 89117Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/24/2029$21.0  $21.0  19.3  0.01 %
Fimac Inc dba American Educational Services(#,^)26300 La Alameda Ste 200, Mission Viejo, CA 92691Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/23/2029$22.4  $22.4  19.9  0.01 %
Pyle Garage Doors OKC, INC dba Precision Door Service OKC(#,^)8860 S Sunnylane Rd, Oklahoma City, OK 73135Repair and MaintenanceTerm LoanPrime plus 2.75%10/22/2029$14.7  $14.7  13.0  — %
James Clark and Company, Inc.(#)8885 Haven Ave, Ste 120, Rancho Cucamonga, CA 91730Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%10/22/2029$12.4  $12.4  12.7  — %
Todd's Car Wash, LLC(#,^)5505 Johnston St., Lafayette, LA 70506Repair and MaintenanceTerm LoanPrime plus 2.75%10/18/2044$343.4  $343.4  386.0  0.12 %
UNIQUE PAVER INSTALLATIONS, INC.(#,^)4930 Mars Hill Rd, Bogart, GA 30622Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/17/2029$22.5  $22.5  20.7  0.01 %
Owens Family and Cosmetic Dentistry PLLC(#,^)403 E College St., Pulaski, TN 38478Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/17/2029$270.8  $270.8  246.8  0.08 %
Roughcut LLC(#,^)41540 National Rd, Belmont, OH 43718Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/17/2029$468.6  $468.6  492.4  0.15 %
Pine Mountain Residential LLC(#)10240 Cosmopolitan Circle, Parker, CO 80134Specialty Trade ContractorsTerm LoanPrime plus 6.5%10/16/2029$12.4  $12.4  12.7  — %
Powerlift Dumbwaiters, Inc(#)2444 Georgia Slide Rd, Georgetown, CA 95634Machinery ManufacturingTerm LoanPrime plus 6.5%10/16/2029$12.5  $12.5  12.7  — %
Naroh Manufacturing, LLC(#,^)185 Gus Hipp Blvd, Rockledge, FL 32955Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/15/2029$18.6  $18.6  17.3  0.01 %
Chavero's Auto Mart, LLC(#)1364 E Palma Vista Drive, Palmview, TX 78572Motor Vehicle and Parts DealersTerm LoanPrime plus 6.5%10/11/2029$12.5  $12.5  12.8  — %
The Cow Harbor Beer Company LLC dba Sand City Brewing Co.(#)19 Scudder Ave, Northport, NY 11768Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%7/11/2030$91.0  $91.0  90.8  0.03 %
Glenda D Brewer dba Bargain Store(#)107 Tabernacle Church Rd, Candor, NC 27229General Merchandise StoresTerm LoanPrime plus 6.5%10/11/2029$12.4  $12.4  12.7  — %
S&D Beauty Spa Inc dba Elite Nails, dba Bella's Nails &dba Onyx Nail b(#,^)5604 Slide Rd, Lubbock, TX 79414Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/11/2029$155.4  $155.4  139.1  0.04 %
172
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Q2 Ventures, LLC(#,^)2805 W Arimo Rd, Arimo, ID 83214Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/8/2029$176.5  $176.5  177.5  0.06 %
Paketo LLC dba West Loop UPS Store(#,^)623 W Lake St., Chicago, IL 60661Couriers and MessengersTerm LoanPrime plus 2.75%10/4/2029$16.4  $16.4  14.7  — %
Joseph P Fusco DDS PC(#,^)77 N Centre Ave, Rockville Centre, NY 11570Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/2029$65.5  $65.5  57.9  0.02 %
International Protection Group, LLC(#,^)481 8th Ave Ste 1130, New York, NY 10001Administrative and Support ServicesTerm LoanPrime plus 2.75%9/30/2029$81.6  $81.6  80.6  0.02 %
A Child's Dream Educational Center LLC(#,^)4127 NW 34th St., Gainesville, FL 32605Social AssistanceTerm LoanPrime plus 2.75%9/30/2044$179.6  $179.6  194.6  0.06 %
AV Strategy, Inc(#,^)9402 American Eagle Way, Orlando, FL 32837Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/30/2029$257.1  $257.1  241.9  0.08 %
In Power Motors, LLC, In-Power Motors II LLC, In-Power Motors III LLC(#,^)2301 W. Buckeye Rd, Phoenix, AZ 85009Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%9/30/2044$623.5  $623.5  656.8  0.20 %
MVE, Inc dba Mid-Valley Engineering(#,^)1117 L St., Modesto, CA 95354Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/30/2029$1,226.1  $1,226.1  1,114.6  0.35 %
SPIRE Manufacturing Solutions LLC(#,^)1440 Newport Rd, Colorado Springs, CO 80916Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/30/2044$1,014.1  $1,014.1  1,140.1  0.35 %
Meldi Maa, Inc dba The River Complex(#,^)74 S Main St., Woonsocket, RI 02895Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2044$422.8  $422.8  463.2  0.14 %
50 Taps, LLC dba Colorado Taproom & Grill(#,^)19539 Hess Rd, Ste 101, Parker, CO 80134Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2029$76.6  $76.6  68.4  0.02 %
Crown Waste Corp(#,^)1 Plainview Rd, Bethpage, NY 11714Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%9/30/2029$49.4  $49.4  46.1  0.01 %
Bev's Sweets LLC(#,^)3778 Hwy 254, Cleveland, GA 30528Administrative and Support ServicesTerm LoanPrime plus 2.75%9/30/2044$213.3  $213.3  232.8  0.07 %
DG Business Solutions, Inc(#,^)11008 Rene St., Lenexa, KS 66215Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/30/2029$222.5  $222.5  197.7  0.06 %
A Child's Dream Educational Center LLC(#,^)4127 NW 34th St., Gainsville, FL 32605Social AssistanceTerm LoanPrime plus 2.75%9/30/2029$186.8  $186.8  165.3  0.05 %
Atlantic Pacific Hospitality Solutions Inc dba North Beach Bistro(#,^)725 Atlantic Blvd, Atlantic Beach, FL 32233Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2029$9.3  $9.3  8.2  — %
Heart and Vascular Associates of Tampa, LLC(#,^)17 David Boulevard, Tampa, FL 33606Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/2044$775.0  $775.0  803.1  0.25 %
Universe Appliance Repairs Inc.(#,^)3790 Merrick Rd, Seaford, NY 11783Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044$586.1  $586.1  604.1  0.19 %
Aztec Machine & Repair Inc, Cranrd & Material(#,^)1715 N 1st St, Bloomfield, NM 87413Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044$710.8  $710.8  744.4  0.23 %
Wagner & Sons Inc(#,^)22365 Alydar Drive, Lexington Park, MO 20653Nonstore RetailersTerm LoanPrime plus 2.75%9/27/2029$18.5  $18.5  16.4  0.01 %
Zima Dining Inc. dba Country Kitchen(#,^)1497 N Mt. Vernon Ave, Colton, CA 92324Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/2029$62.3  $62.3  65.4  0.02 %
173
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Double H Services, LLC, C&T Oil Field Services, LLC and Brian S. Holma(#,^)3721 North 162nd St., Garber, OK 73701Support Activities for MiningTerm LoanPrime plus 2.75%9/27/2029$1,013.5  $1,013.5  953.1  0.30 %
Cherry and Candlewood Inc dba Aamco(#,^)3029 South St., Long beach, CA 90805Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2044$432.2  $432.2  485.9  0.15 %
Universe Appliance Repairs Inc.(#,^)3790 Merrick Rd, Seaford, NY 11783Repair and MaintenanceTerm LoanPrime plus 2.75%9/27/2029$655.1  $655.1  607.0  0.19 %
Titan Laser Screed Concrete Services, LLC(#,^)8908 Wildlife Lane, Sanford, FL 32771Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/2029$49.4  $49.4  44.8  0.01 %
Total Pallet Consolidation LLC(#,^)2800 Swanee Ave, Buford, GA 30618Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/27/2029$18.5  $18.5  16.5  0.01 %
Stiegelbauer Associates Inc.(#,^)63 Flushing Ave Unit 342, Brooklyn, NY 11205Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/2029$198.1  $198.1  175.0  0.05 %
Zmetra Clearspan Structures LLC(#,^)2 Old Worcester Rd, Webster, MA 01571Miscellaneous ManufacturingTerm LoanPrime plus 2.75%9/27/2044$436.9  $436.9  491.1  0.15 %
Hoagie Barmichaels Inc(#,^)1101 River Rd, New Windsor, NY 12553Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/27/2044$112.7  $112.7  115.7  0.04 %
Santa Fe Flooring LLC(#,^)3711 Paseo Del Norte NE, Albuquerque, NM 87113Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%9/26/2029$493.2  $493.2  450.1  0.14 %
MeShare Inc.(#,^)1401 Interstate Drive, Champaign, IL 61822Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%9/26/2029$1,236.0  $1,236.0  1,157.7  0.36 %
Adam's Construction & General Contracting LLC(#,^)7808 N Custer Rd, Freesoil, MI 49411Construction of BuildingsTerm LoanPrime plus 2.75%9/26/2029$68.2  $68.2  62.4  0.02 %
Anderson's Outdoor Adventures, LLC(#,^)4060 SW County Rd 232, Bell, FL 32619Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/25/2029$22.2  $22.2  22.5  0.01 %
Byler, Wolfe, Lutsch and Kampfer CPAs, Inc(#,^)360 East State St., Salem, OH 44460Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/25/2044$53.4  $53.4  54.1  0.02 %
luv 2 Play Nor Cal, LLC(#,^)82 Clarksville Rd, Folsom, CA 95682Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/25/2029$111.7  $111.7  100.3  0.03 %
Quality Machine of Iowa, Inc(#,^)1040 4th Ave, Audubon, IA 50025Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/25/2029$67.1  $67.1  70.4  0.02 %
Flamingo Bowl, Inc(#,^)3301 N 23rd St., McAllen, TX 78501Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/24/2029$201.5  $201.5  190.6  0.06 %
Unified Utility Services LLC(#,^)206 Frankie Lane, Ladson, SC 29456Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/20/2044$157.6  $157.6  177.0  0.05 %
Standard Real Estate Services LLC(#)500 W Silver Spring Dr. #K 200, Glendale, WI 53217Real EstateTerm LoanPrime plus 6.5%9/19/2029$12.4  $12.4  12.6  — %
Host Marketing, LLC(#)206 Bell Lane Ste B, West Monroe, LA 71291Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/18/2029$12.4  $12.4  12.6  — %
Payne's Enviromental Service, LLC dba Bamaco(#,^)5617 Causeway Boulevard, Tampa, FL 33619Administrative and Support ServicesTerm LoanPrime plus 2.75%9/18/2044$521.0  $521.0  545.4  0.17 %
Vancole Investments, Inc. dba Smoothie King #913 &;Dream Developmenf G(#,^)876 Virginia Ave, Hapeville, GA 30354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/2029$11.9  $11.9  10.5  — %
174
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Win Health Institute(#,^)711 E Valley Rd, Basalt, CO 81621Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/17/2029$7.4  $7.4  6.8  — %
Natalie Hart LLC dba Lady of Luxury &dba Country Sugar Events, dba Que(#)1702 Fawn Gate St, San Antonio, TX 78248Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/18/2029$33.4  $33.4  33.7  0.01 %
Game Station, Inc.(#,^)2917 1st Ave SE, Cedar Rapids, IA 52402Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/16/2029$20.0  $20.0  18.9  0.01 %
Bay Bowl Inc dba Shasta Lanes(#,^)11093 Black Marble Way, Redding, CA 96003Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/13/2044$536.2  $536.2  602.3  0.19 %
Oak Park Social LLC(#)14691 W 11 Mile Rd, Oak Park, MI 48237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/12/2045$96.9  $96.9  105.5  0.03 %
The Steel Method LLC dba Sneeze It(#,^)250 Passaic Ave Ste 200, Fairfield, NJ 07004Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/12/2029$166.9  $166.9  147.4  0.05 %
New Flow Plumbing and Rooter Inc.(#,^)6718 Katherin Ave, Van Nuys, CA 91405Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/12/2029$49.4  $49.4  43.9  0.01 %
ACSS CPA, LLC(#,^)1016 S Texas Blvd, Weslaco, TX 78599Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/12/2044$39.9  $39.9  42.6  0.01 %
Miami Squeeze Inc dba Miami Squeeze, LLC(#,^)18315 W Dixie Hwy, North Miami Beach, FL 33160Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/11/2029$114.2  $114.2  106.2  0.03 %
Covert Recordings LLC(#,^)31-65 138th St., Apt 3K, Flushing, NY 11354Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/11/2029$11.8  $11.8  12.0  — %
Family Insight, P.C.(#,^)3433 Brambleton Ave, Ste 104A, Roanoke, VA 24018Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/11/2029$245.4  $245.4  247.6  0.08 %
Prime Precision Machining, LLC(#,^)845 Mandoline Ave, Madison Heights, MI 48071Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/11/2029$206.9  $206.9  190.5  0.06 %
Prime Precision Machining, LLC(#,^)845 Mandoline Ave, Madison Heights, MI 48071Real EstateTerm LoanPrime plus 2.75%9/11/2044$267.9  $267.9  284.9  0.09 %
Softcare247, LLC(#)4191 Naco Perrin Blvd, San Antonio, TX 78217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/11/2029$12.4  $12.4  12.6  — %
Body on Cue Health and Fitness LLC(#,^)129 A Orpha Drive, Middlebury, IN 46840Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/6/2029$44.5  $44.5  39.8  0.01 %
Eco Electric LLC(#,^)5380 Cameron St, Las Vegas, NV 89118Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/5/2029$65.8  $65.8  57.9  0.02 %
SVT Masonry Limited Liability Company(#,^)1208 Houghton Lane, Bennington, VT 05201Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/5/2029$75.4  $75.4  74.4  0.02 %
Smokin AZ, LLC dba Dickey's Barbecue Pit AZ(#,^)1914 S Power Rd, Ste 101, Mesa, AZ 85206Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/5/2029$65.5  $65.5  58.6  0.02 %
Philly Games Inc.dba Queen & Rock Game Cafe(#,^)607-609 S 2nd St., Philadelphia, PA 19147Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/5/2029$61.8  $61.8  54.7  0.02 %
Thawk LLC(#,^)1110 Willow Glen Drive, Yuba City, CA 95991Administrative and Support ServicesTerm LoanPrime plus 2.75%8/30/2029$8.1  $8.1  7.2  — %
No Push Backs, LLC(#)2223 Dungan Ave, Bensalem, PA 19020Personal and Laundry ServicesTerm LoanPrime plus 6.5%8/30/2029$12.2  $12.2  12.4  — %
175
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Dog House Sportfishing Charters Inc(#)83413 Overseas Hwy, Islamorada, FL 33036Scenic and Sightseeing TransportationTerm LoanPrime plus 6.5%8/30/2029$12.3  $12.3  12.5  — %
3C Consumer Network & Designs LLC(#,^)7676 Hillmont St., Ste 109, Houston, TX 77040Real EstateTerm LoanPrime plus 2.75%8/29/2029$14.7  $14.7  13.5  — %
Camror LTD dba Jersey Mike's(#,^)5946 Meijer Drive, Cincinnati, OH 45150Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/29/2030$87.5  $87.5  91.4  0.03 %
Esquire Mini Mart LLC & Morgan Store Building LLC(#,^)12595 S Somerton Ave, Yuma, AZ 85365Food and Beverage StoresTerm LoanPrime plus 2.75%8/29/2029$50.4  $50.4  49.0  0.02 %
Groton Bowling Center and Entertainment Inc(#,^)27 Kings Hwy, Groton, CT 06340Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/29/2044$942.4  $942.4  1,010.2  0.31 %
Crown Heights Bunch O Bagels & More Inc & 361 Bagel Holding LLC(#,^)361 Troy Ave, Brooklyn, NY 11213Food and Beverage StoresTerm LoanPrime plus 2.75%8/29/2029$39.3  $39.3  41.3  0.01 %
Double Scoop Ice Cream, LLC(#,^)2970 Stonecrest Pass, Lithonia, GA 30038Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/29/2044$96.4  $96.4  102.7  0.03 %
The BMF Media Group LLC(#,^)50 West 23rd St., 7th fl, New York, NY 10010Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/29/2029$368.7  $368.7  324.6  0.10 %
DB Talak LLC(#,^)2018 SE 6th Ave, Portland, OR 97214Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/28/2029$86.0  $86.0  90.3  0.03 %
HRS2, LLC(#,^)5410 Pipers Creek Court, Sugar Land, TX 77479Nonstore RetailersTerm LoanPrime plus 2.75%8/28/2029$227.6  $227.6  224.5  0.07 %
Khari E. J. Myers dba Khari Imagery & 190 Minerva LLC(#,^)190 Minerva St., Tonawanda, NY 14150Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/28/2044$59.8  $59.8  67.2  0.02 %
Linsey Schwertdfeger,, Inc.(#,^)740 Dennery Rd, San Diego, CA 92154Repair and MaintenanceTerm LoanPrime plus 2.75%8/28/2029$69.7  $69.7  62.4  0.02 %
Blue Eagle Transport Inc.,Golden Eagle Tran and Green Eagle Transpor(#,^)377 Boston Post Rd, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%8/28/2029$444.2  $444.2  407.5  0.13 %
The Hometown Welcome Program, Inc & Fredric Anthony Gushwa(#,^)107 S Nottawa St, Sturgis, MI 49091Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/27/2029$96.0  $96.0  90.2  0.03 %
Maryland Urgent Care, Inc.(#,^)9831 Greenbelt Rd Ste 208 Unit H-2, Lanham, MD 20706Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/27/2044$46.0  $46.0  49.9  0.02 %
ADA Internacional Inc(#,^)10891 La Reina Rd, Ste 100, Delray Beach, FL 33446Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%8/26/2029$22.1  $22.1  19.5  0.01 %
Crystal S. Prado dba Crystal Clear Accounting(#)34099 Tuscan Creek Way, Temecula, CA 92592Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/26/2029$3.2  $3.2  3.2  — %
JLT Foods, LLC(#,^)3294 Long Meadow Ct, West Bloomfield Township, MI 48324Food ManufacturingTerm LoanPrime plus 2.75%8/23/2029$20.6  $20.6  18.2  0.01 %
PJT Logistics, Inc.(#,^)2-4 Commerce Way, Auburn, NY 13021Truck TransportationTerm LoanPrime plus 2.75%8/23/2029$49.2  $49.2  51.6  0.02 %
176
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Elite Motors LLC(#,^)1046-1050 Orange Ave, West Haven, CT 06516Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%8/23/2029$86.0  $86.0  90.3  0.03 %
SRJ construction Corp(#,^)8358 W Oakland Park Blvd. #203E, Sunrise, FL 33351Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/23/2029$11.1  $11.1  9.9  — %
The Pet Stop, LLC(#,^)106 S Washington St., Pleasantville, IA 50225Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/23/2029$7.4  $7.4  6.7  — %
MS Integrated Psychotherapy & Counseling, LLC(#,^)1157 Main St., Clifton, NJ 07011Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/22/2029$73.0  $73.0  68.8  0.02 %
The Roux Southern Kitchen, LLC(#,^)252 FM 3162, Sandia, TX 78383Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/22/2029$17.8  $17.8  18.4  0.01 %
MB Nursery LLC dba The Garden Center(#,^)15562 HWY-South, Whitehouse, TX 75791Administrative and Support ServicesTerm LoanPrime plus 2.75%8/21/2029$91.1  $91.1  94.3  0.03 %
Metro R Services Inc. and Metal & Roof Supplies, Inc.(#,^)20 Universal Place, Carlstadt, NJ 07072Repair and MaintenanceTerm LoanPrime plus 2.75%8/21/2029$190.5  $190.5  185.1  0.06 %
Auto Unique LLC(#,^)305 W Main St., Mayo, FL 32066Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%8/20/2044$12.3  $12.3  13.8  — %
William Martinez dba Bad Ass Coffee of Hawaii(#)14101 Main St., Ste 4101, Hesperia, CA 92345Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/20/2029$22.5  $22.5  20.2  0.01 %
Signature Rooms, Inc.(#,^)2066 Route 112, Medford, NY 11763Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%8/19/2029$165.9  $165.9  174.1  0.05 %
Accent Home Services LLC dba Benjamin Franklin Plumbing of Kansas City(#,^)7748 Troost Ave, Kansas City, MO 64131Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/15/2029$110.6  $110.6  105.9  0.03 %
American Healthy Vending, Inc(#,^)5951 NW 151 St., Hialeah, FL 33014Nonstore RetailersTerm LoanPrime plus 2.75%8/15/2029$104.5  $104.5  96.6  0.03 %
AJN Innovations LLC dba Burgerim(#)6704 Main St., Miami Lakes, FL 33014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/15/2030$24.6  $24.6  22.7  0.01 %
Accelerate Educational Solutions, LLC dba Tutor My Success(#,^)135 Clove Branch Rd, Hopewell Jct, NY 12533Educational ServicesTerm LoanPrime plus 2.75%8/14/2029$17.0  $17.0  15.0  — %
Ranson Excavating, Inc(#,^)8343 Kaula Drive, Fair Oaks, CA 95628Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/13/2029$14.7  $14.7  13.0  — %
KM Electrical Services, Inc(#,^)4348 Waialae Ave Unit 315, Honolulu, HI 96816Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/12/2029$76.2  $76.2  67.3  0.02 %
Love Playing LLC(#)2200 Eastridge Loop, San Jose, CA 95122Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/9/2030$99.6  $99.6  94.6  0.03 %
Elixir Enterprises, LLC dba Guilford Renee's(#,^)637 Boston Post Rd, Guilford, CT 06437Food and Beverage StoresTerm LoanPrime plus 2.75%8/8/2029$19.2  $19.2  17.0  0.01 %
Suite Luxury, Inc(#,^)1410 Pine Ridge Rd, Ste 13, Naples, FL 34108Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%8/7/2029$18.4  $18.4  16.3  0.01 %
A & S Services LLC dba Kona Ice of Troy(#)3888 Lightner Rd, Vandalia, OH 45377Food Services and Drinking PlacesTerm LoanPrime plus 6.5%8/7/2029$12.3  $12.3  12.5  — %
177
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Accord Law, APC(#,^)82555 Grass Flat Lane, Indio, CA 92203Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/2/2029$7.4  $7.4  6.5  — %
Leader Engineering-Fabrication, Inc.(#,^)695 Independence DrIive, Napoleon, OH 43545Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%8/2/2029$123.0  $123.0  129.0  0.04 %
Billy Auto Inc(#,^)632 N Broadway, Amityville, NY 11701Repair and MaintenanceTerm LoanPrime plus 2.75%7/31/2044$323.6  $323.6  334.9  0.10 %
East Coast Flight Services, Inc and Aviation Consulting Enterprise, LL(#,^)27603 Parkway Rd, Easton, MD 21601Air TransportationTerm LoanPrime plus 2.75%7/31/2029$562.2  $562.2  516.2  0.16 %
Healthcare Holdings of America, LLC, Senior Market Advisors, Inc, CHA(#,^)6201 Centennial Blvd, Nashville, TN 37209Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/31/2029$433.9  $433.9  426.3  0.13 %
Living Spring Home Health Inc.(#,^)18350 Kedzie Ave Ste 204, Homewood, IL 60430Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/31/2029$132.2  $132.2  124.4  0.04 %
Genecco Produce, Inc. & Leo Genecco & Sons, Inc.(#,^)1850 Rochester Rd, Canadaigua, NY 14424Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%7/31/2029$753.2  $753.2  729.4  0.23 %
Joseph Centonze dba Off Kilter Kilts(#,^)27720 Ave Scott, Santa Clarita, CA 91355Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%7/31/2029$8.0  $8.0  7.1  — %
Canyon Lake Kids Academy, LLC(#,^)130 Charter Oak Drive, Canyon Lake, TX 78133Social AssistanceTerm LoanPrime plus 2.75%7/31/2044$97.8  $97.8  105.3  0.03 %
Quick and Quality Services dba Bella Roma Pasta & Pizza & Farshad Fari(#,^)28940 Golden Lantern, Laguna Niguel, CA 92677Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/2029$11.1  $11.1  10.4  — %
Humd, LLC dba La Rosa Chicken and Grill(#)3111 N. University Drive, Coral Springs, FL 33065Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/31/2030$134.3  $134.3  122.5  0.04 %
St. Francis Home Health Inc(#,^)5246 SW 8th St 103B, Coral Gables, FL 33134Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/31/2029$73.3  $73.3  64.6  0.02 %
La Mount Group LLC(#,^)3111 Princeton Rd, Hamilton, OH 45011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/2029249.3  249.3  219.5  0.07 %
Gray Rock Quarry, LLC and William E Dailey III(#,^)54 West Milton Rd, Milton, VT 05468Mining (except Oil and Gas)Term LoanPrime plus 2.75%7/31/2044448.8  448.8  437.8  0.14 %
Jbelis Stop N' Go, LLC dba Planet Smoothie(#,^)2565 E 17th St, Ammons, ID 83406Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/30/202919.1  19.1  17.0  0.01 %
Grad Street LLC(#)2437 Corinth Ave Apt 130, Los Angeles, CA 90064Nonstore RetailersTerm LoanPrime plus 6.5%7/30/202912.3  12.3  12.5  — %
Dant A Sandras, D.D.S. LLC(#,^)13373 Hwy 3235, Larose, LA 70373Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/30/2029210.7  210.7  190.4  0.06 %
Roman Tint Inc.(#,^)1436 Ayala Dr, Unit M, Rialto, CA 92376Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/30/20298.1  8.1  7.4  — %
Platt & Associates, LLC dba Flag Staff Apparel, Platt & Associates, LL(#,^)288 North Industrial Park Drive, Liberty, MS 39645Apparel ManufacturingTerm LoanPrime plus 2.75%7/30/204456.0  56.0  61.8  0.02 %
Aeromax Industries, Inc, HITM, Inc and TMCB LLC(#,^)9027 Canoga Ave, Canoga Park, CA 91301Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%7/30/2044785.5  785.5  812.0  0.25 %
178
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Hodges Family Entertainment LLC dba Space Cadets Indoor Playground(#)611 Greenville Blvd SE, Greenville, NC 27858Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/30/202915.2  15.2  14.4  — %
Micheal Birch and Tracy M. Pierce(#,^)E 2947 H-44, Traunik, MI 49891Gasoline StationsTerm LoanPrime plus 2.75%7/29/204454.4  54.4  59.4  0.02 %
Moore Chiropractic Center, P.A.(#,^)936 Roosevelt Trail Unit 1 & 2, Windham, ME 04062Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/26/20298.9  8.9  9.1  — %
Sou's LLC(#,^)739 NE MLK Boulevard, Portland, OR 97221Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/26/20295.8  5.8  5.5  — %
Power Associates Inc.(#,^)2766 West Good CT, Boise, ID 83702Real EstateTerm LoanPrime plus 2.75%7/26/202914.7  14.7  12.9  — %
Dan Dahlin Inc.(#,^)16465 MN-65, Ham Lake, MN 55304Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/26/2044407.1  407.1  457.2  0.14 %
Franklin Care Pharmacy Incorporated(#,^)520 N Franklintown Rd, Baltimore, MD 21223Health and Personal Care StoresTerm LoanPrime plus 2.75%7/25/202953.0  53.0  55.6  0.02 %
A&W ALF, LLC dba A & W Assisted Living Facility(#,^)6600 Liberty Rd, Gwynn Oak, MD 21207Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%7/24/204499.6  99.6  109.9  0.03 %
Lawrence Adeyemo & Co LLC(#)209-34 112 Ave, Queens Village, NY 11429Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%7/19/20299.8  9.8  10.0  — %
Hardrock Alpha Enterprises, LLC(#,^)5101 Stine Rd, Bakersfield, CA 93313Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/19/202915.4  15.4  13.9  — %
700 Services Inc.dba 700 Credit Repair(#,^)1201 N Goliad St., Rockwall, TX 75087Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%7/19/20297.3  7.3  6.5  — %
Bonfire Hot Yoga LLC(#,^)3665 SW Hall Blvd, Beaverton, OR 97005Educational ServicesTerm LoanPrime plus 2.75%7/18/20298.1  8.1  7.3  — %
JDM2 Water Station LLC(#,^)125 Chestnut Hill Drive, York, PA 17408Nonstore RetailersTerm LoanPrime plus 2.75%7/18/2029204.6  204.6  194.5  0.06 %
Ameritube, LLC(#,^)1000 N Hwy 77, Hillsboro, TX 76645Primary Metal ManufacturingTerm LoanPrime plus 2.75%7/18/2029116.1  116.1  121.8  0.04 %
The Bean Coffee Co. LLC(#)112 South Main St., Spring Hill, KS 66083Food Services and Drinking PlacesTerm LoanPrime plus 6.5%7/17/202912.3  12.3  12.5  — %
Baton Rouge Cargo Services Inc(#,^)6013 McRaven Rd, Jackson, MS 39209Support Activities for TransportationTerm LoanPrime plus 2.75%7/17/2044291.2  291.2  308.2  0.10 %
Garage Floor Coating of MN.com,LLC(#,^)6701 West 23rd St., St. Louis Park, MN 55426Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/16/2044993.7  993.7  1,036.1  0.32 %
Bouquet Canyon Kennels(#,^)29973 Bouquet Canyon Rd, Santa Clarita, CA 91390Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/16/2044299.9  299.9  308.9  0.10 %
Adam Family Bowl Inc(#,^)1504 Chestnut St., Mishawaka, IN 46545Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/16/2044132.4  132.4  142.7  0.04 %
Beacon Metal Fabricators, Inc.(#,^)5425-D Hamilton Ave, Cleveland, OH 44114Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%7/12/202968.4  68.4  65.6  0.02 %
VGI Medical LLC(#,^)10401 S Belcher Rd, Largo, FL 33771Miscellaneous ManufacturingTerm LoanPrime plus 2.75%7/12/2044324.8  324.8  364.8  0.11 %
179
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Last Touch, LLC(#,^)1612 Jackson St., Spirit Lake, IA 51360Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%7/11/2044101.1  101.1  105.8  0.03 %
D DeGregoria LLC dba The UPS Store 4235 Massapequa(#,^)4940 Merrick Rd, Massapequa Park, NY 11762Couriers and MessengersTerm LoanPrime plus 2.75%7/10/202977.5  77.5  69.6  0.02 %
Menskha Inc(#)88 High St., Mountclair, NJ 07042Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%7/10/202912.3  12.3  12.5  — %
Nash-Delphia LLC(#,^)2135 Gallatin Pike N, Store 4, Madison, TN 37115Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%7/2/202914.5  14.5  12.8  — %
Southern Specialties Transportation LLC(#,^)116 Toledo Drive, Lafayette, LA 70506Truck TransportationTerm LoanPrime plus 2.75%6/28/2029166.5  166.5  163.8  0.05 %
Nevada Recycling and Salvage LTD, AMCB LLC(#,^)1085 Telegraph St, Reno, NV 89502Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/28/20441,245.5  1,245.5  1,278.8  0.40 %
Baobab Asset Management LLC(#,^)3 Greenwich Office Park Ste 102, Greenwich, CT 06831Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/28/202948.7  48.7  42.3  0.01 %
Balboa Fashion LLC(#,^)1016 S. Towne Ave, Unit 123, Los Angeles, CA 90021Apparel ManufacturingTerm LoanPrime plus 2.75%6/28/20297.3  7.3  6.3  — %
Crestview Ridge Farms LLC(#,^)1172 Co Rd 956, Ashland, OH 44805Crop ProductionTerm LoanPrime plus 2.75%6/28/2044536.1  536.1  570.2  0.18 %
Specialty Surgery Center, Inc.(#,^)5505 Peachtree Dunwoody Rd #640,645, Atlanta, GA 30342Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/20291,241.9  1,241.9  1,149.5  0.36 %
K & K Restaurant LLC(#,^)6607 S Central Ave, Phoenix, AZ 85042Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2044134.3  134.3  146.6  0.05 %
Kim Howard Corp dba NPN Machine Tools(#,^)9130 Wayfarer Ln, Houston, TX 77075Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/28/2029206.6  206.6  215.5  0.07 %
Port Huron Ophthalmology, PLLC dba Black River Optical(#,^)1033 River St., Port Huron, MI 48060Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/202914.6  14.6  12.7  — %
Anderson Companies LLC(#,^)3015 S White Horse Pike, Hammonton, NJ 08037Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2044203.1  203.1  215.2  0.07 %
Richmond Street Partners, LLC(#,^)200 E Chestnut St, Chicago, IL 60611Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%6/28/202993.0  93.0  81.6  0.03 %
Sundown Audio, LLC(#,^)514 West 21St St., Newton, NC 28658Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/28/2044903.8  903.8  933.7  0.29 %
NJ Floats Inc(#,^)66 Twin Oaks Rd, Bridgewater, NJ 08807Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/2044175.0  175.0  195.2  0.06 %
Upul's Travel Service & Tours Inc(#,^)654 Shopping Lane, Covina, CA 91723Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2044348.1  348.1  345.9  0.11 %
Good News Cafe, LLC(#,^)694 Main St. S, Woodbury, CT 06798Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/28/2044248.6  248.6  256.7  0.08 %
H2O Mobile Group, Inc. dba Fantasea Scuba(#,^)3781 Tamiami Trail, Port Charlotte, FL 33952Educational ServicesTerm LoanPrime plus 2.75%6/28/202945.9  45.9  40.5  0.01 %
180
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Upul's Travel Service & Tours Inc(#,^)654 Shoppers Lane, Covina, CA 91723Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/2029267.4  267.4  232.4  0.07 %
Big Picture Group LLC(#,^)110 S Fairfax Ste 355, Fairfax, CA 90036Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/28/2029146.1  146.1  127.0  0.04 %
5161 LLC(#,^)1478 E Mountain Drive, Santa Barbara, CA 93108Nonstore RetailersTerm LoanPrime plus 2.75%6/28/20291,154.3  1,154.3  1,090.0  0.34 %
Jian Yang and Kanger House LLC(#,^)48 Horse Hill Rd, Cedar Knolls, NJ 07927Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/27/2029116.9  116.9  102.0  0.03 %
Advance Transit LLC(#,^)574-614 Tonnelle Ave, Jersey City, NJ 07307Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/28/2044757.5  757.5  814.0  0.25 %
BB Services, LLC(#,^)580 39 Rd, Palisade, CO 81526Truck TransportationTerm LoanPrime plus 2.75%6/27/2029110.1  110.1  98.8  0.03 %
Ailky Corporation & Wyspen(#,^)352 Bedford St., Lakeville, MA 02347Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/27/202947.4  47.4  41.2  0.01 %
Boucherie US Inc(#,^)251 Little Falls Drive, Wilmington, DE 19807Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/20291,144.7  1,144.7  994.9  0.31 %
Pawfection Pet Services LLC(#,^)177 W Cottonwood Ln Ste 12, Casa Grande, AZ 85122Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/27/202910.2  10.2  8.9  — %
Tim's Truck Capital & Auto Sales, Inc(#,^)904 Suncook Valley Hwy, Epsom, NH 03234Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/27/2029206.6  206.6  215.4  0.07 %
Moon Landscaping, Inc, Moon Group, Inc moon Nursery, Inc, Moon Site Ma(#,^)145 Moon Rd, Chesapeake City, MD 21915Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%6/27/20291,220.1  1,220.1  1,185.3  0.37 %
Crescent Event Productions, Inc(#,^)1327 Wood Branch Drive, Charlotte, NC 28273Administrative and Support ServicesTerm LoanPrime plus 2.75%6/27/2029340.3  340.3  305.9  0.09 %
S & T Hardware Inc(#,^)2300 Nooseneck Hill, Coventry, RI 02816Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/27/2044200.3  200.3  223.8  0.07 %
Shooter's Gun Club, LLC(#)2429 Iowa St. Ste B-D, Lawrence, KS 66046Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/27/2030131.6  131.6  118.7  0.04 %
Soft Touch Tissue & Paper LLC(#)1491 Hammond, Bangor, MA 04401Paper ManufacturingTerm LoanPrime plus 2.75%12/26/2029113.3  113.3  118.5  0.04 %
Soft Touch Tissue & Paper LLC(#,^)1491 Hammond St., Bangor, ME 04401Paper ManufacturingTerm LoanPrime plus 2.75%6/26/2044233.8  233.8  261.2  0.08 %
Tekoa Enterpises, Inc(#,^)1033 Cannon Bridge Rd, Cordova, SC 29039Truck TransportationTerm LoanPrime plus 2.75%6/26/202953.0  53.0  48.7  0.02 %
Kaz Ramen, L.L.C.(#,^)22413 Barton Rd, Grand Terrace, CA 92313Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/202921.9  21.9  19.1  0.01 %
Selective Automotive & Accessories Group, Inc(#,^)2221 Pelham Parkway, Pelham, AL 35124Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/26/2029243.2  243.2  225.7  0.07 %
Child Care Ventures LLC dba Childcare Adventures ELC(#,^)3542 Glendale Ave, Toledo, OH 43614Social AssistanceTerm LoanPrime plus 2.75%6/26/2044146.7  146.7  148.2  0.05 %
181
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
JFK Transportation Inc(#,^)4 Mechanic St., Natick, MA 01760Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/26/2029105.2  105.2  95.0  0.03 %
Lynx Inspection Technologies LLC(#,^)8101 Miller Rd 2, Houston, TX 77049Support Activities for MiningTerm LoanPrime plus 2.75%6/26/2044574.0  574.0  641.2  0.20 %
All-City Towing LLC, Jeffrey James Piller(#,^)1213 W Mallory Ave, Milwaukee, WI 53221Support Activities for TransportationTerm LoanPrime plus 2.75%6/26/2029393.5  393.5  376.0  0.12 %
RWBB Enterprises, LLC(#,^)4120 7th Ave, Kenosha, WI 53140Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/204475.6  75.6  81.4  0.03 %
Perfect Water LLC(#,^)183 Russ St., San Francisco, CA 94103Nonstore RetailersTerm LoanPrime plus 2.75%6/26/202970.5  70.5  66.1  0.02 %
Paradise Towing & Recovery Inc(#,^)1115 S Homer Boulevard, Sanford, NC 27330Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/2029103.5  103.5  99.8  0.03 %
Vanchoc Transport Inc(#,^)137 3rd St, Brooklyn, NY 11231Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/25/202942.4  42.4  39.6  0.01 %
Spartan Technology Solutions, Inc(#,^)125 Venture Blvd, Spartanburg, SC 29306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/2044485.8  485.8  500.2  0.16 %
Professional Tire Limited Liability Company(#,^)6655 Country Rd 32, Norwich, NY 13815Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/2044138.7  138.7  145.1  0.05 %
Paradise Towing & Recovery Inc(#,^)1115 S. Horner Boulevard, Sanford, NC 27330Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/204473.1  73.1  81.7  0.03 %
567 Logistics, LLC(#,^)1924 Ruffin Mill Rd, Colonial Heights, VA 23834Support Activities for TransportationTerm LoanPrime plus 2.75%6/25/202948.6  48.6  44.0  0.01 %
Worldwide Capital Management Inc.(#,^)6 Venture Ste 305, Irvine, CA 92618Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/25/2029141.0  141.0  122.5  0.04 %
Krsto, LLC dba Italian Butter Breadsticks(#,^)4241 E McNicols Rd, Detroit, MI 48213Food ManufacturingTerm LoanPrime plus 2.75%6/24/2044189.7  189.7  202.4  0.06 %
Sweets By Karla LLC(#,^)3273 South John Young Pkwy, Kissimmee, FL 34746Food ManufacturingTerm LoanPrime plus 2.75%6/24/202912.5  12.5  10.9  — %
Scissor Kids Inc(#,^)63 Hebron Ave, Ste F, Glastonbury, CT 06033Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/24/202915.8  15.8  13.9  — %
Elite Excavating Services LLC(#,^)11 Rolling Ridge Dr Drive, Milton, PA 17847Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/21/202918.8  18.8  17.6  0.01 %
Peninsula Self Defense LLC(#,^)2766 Bay Rd, Redwood City, CA 94063Educational ServicesTerm LoanPrime plus 2.75%6/21/20295.1  5.1  4.6  — %
Port Diesel L.L.C.(#)3212 Alex Trask Drive, Castle Hayne, NC 28429Repair and MaintenanceTerm LoanPrime plus 6.5%6/21/202912.3  12.3  12.2  — %
Small Batch Creations Inc. dba The Office Bar & Grill(#,^)295 E Washington Ave, Sunnyvale, CA 94086Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/21/202958.2  58.2  50.6  0.02 %
LuLuBelle's Mountain Banana Bread LLC(#)1063 Carousel Rd, Lake Arrowhead, CA 92352Food ManufacturingTerm LoanPrime plus 2.75%4/21/204576.9  76.9  85.8  0.03 %
William Rose Inc(#,^)1 Grace Cove Rd, New Shoreham, RI 02807Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/21/204487.0  87.0  82.5  0.03 %
182
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Campuscuts LLC(#)930 Robtrice Ct, Edmond, OK 73430Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/21/20297.3  7.3  7.3  — %
Gribben & Associates, Inc(#,^)18201 Von Karman Ste 300, Irvine, CA 92612Truck TransportationTerm LoanPrime plus 2.75%6/21/2029701.8  701.8  609.9  0.19 %
AA Horseplay, LLC(#)34565 Ranch Drive, Brownsville, OR 97327Animal Production and AquacultureTerm LoanPrime plus 6.5%6/20/202912.2  12.2  12.1  — %
Central Texas Hygiene, LLC(#,^)10201 McKalla Place, Austin, TX 78758Administrative and Support ServicesTerm LoanPrime plus 2.75%6/20/202985.6  85.6  74.4  0.02 %
Beck's Pub & Grill LLC(#,^)N6630 WI-49, Weyauwega, WI 54983Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/204469.6  69.6  75.0  0.02 %
Bader Furniture Company Inc.(#,^)704 N Liberty St., Shamokin, PA 17872Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%6/19/20297.3  7.3  7.6  — %
Zion Motors Inc(#,^)6949 Wall Triana Hwy, Madison, AL 35757Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/19/204460.4  60.4  62.9  0.02 %
Providence Management Environmental, LLC, Tindol Energy Group, LLC(#,^)6570 W Hwy 67, Cleburne, TX 76033Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/19/2029263.4  263.4  265.0  0.08 %
International Institute for Learning Inc.(#,^)110 E 59th St ,31st floor, New York, NY 10022Educational ServicesTerm LoanPrime plus 2.75%6/19/2029291.7  291.7  253.5  0.08 %
Bonadi Inc. dba Polished Salon(#)9858 W Sample Rd, Coral Springs, FL 33065Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/17/202912.2  12.2  12.2  — %
American Demolition, Inc(#,^)401 N Kuner Rd, Brighton, CO 80601Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/17/2029182.3  182.3  190.1  0.06 %
JLM Consulting LP(#,^)3981 E Dunrobin Dr., Springfield, MO 65809Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/17/202919.2  19.2  16.7  0.01 %
3 Rusty Nails, LLC dba The Gathering Place at 3 Rusty Nails(#,^)3830 Doctor M.L.K. Jr Blvd, Anderson, IN 46013Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%6/14/204487.0  87.0  94.2  0.03 %
Comarco Quality Pork Products Inc, Comarco Pork Products of FL LLC(#,^)501 Jackson St, Camden, NJ 08104Food ManufacturingTerm LoanPrime plus 2.75%6/14/2029301.6  301.6  281.3  0.09 %
A & S Services LLC dba Kona Ice of Troy(#,^)3888 Lightner Rd, Vandalia, OH 45377Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/14/204444.8  44.8  48.0  0.01 %
Kego 2 LLC dba Jon Smith Subs 80025(#,^)2001 W. Southlake Blvd Ste 143, Southlake, TX 76092Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/14/2029104.1  104.1  93.5  0.03 %
Law Office of Paula Padilla(#)2211 E Highland Ave Ste 130, Phoenix, AZ 85016Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/13/20294.9  4.9  4.9  — %
Picon Motors LLC dba The New Young's Motors(#,^)199-211 Central Ave, Orange, NJ 07080Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/12/2029218.8  218.8  218.9  0.07 %
GT Performance Plus Inc(#,^)4210 College St., Beaumont, TX 77707Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/11/204498.8  98.8  106.3  0.03 %
Ivesters Transportation, Inc(#,^)4299 South 2675 West, Roy, UT 84067Truck TransportationTerm LoanPrime plus 2.75%6/11/2029243.5  243.5  218.7  0.07 %
183
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
GT Performance Plus Inc(#,^)4210 College St., Beaumont, TX 77707Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/11/202974.5  74.5  65.7  0.02 %
Independent Transport, LLC dba Independent Water(#,^)3739 E Ridgeway Rd, Orange, CA 92867Nonstore RetailersTerm LoanPrime plus 2.75%6/10/2029198.6  198.6  187.4  0.06 %
Archer Cleaners Inc(#)1514 W 33rd St., Chicago, IL 60608Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/10/202912.2  12.2  12.1  — %
Smith and Son Plumbing, LLC(#,^)15922 Eldorado Parkway Ste 500-1579, Frisco, TX 75035Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/10/202980.2  80.2  72.8  0.02 %
Neely Motorsports, Inc dba Earl's Store #1;Earl's Performance Plumbing(#,^)15825-15827 Hawthorne Blve, Lawndale, CA 90260Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/7/2044240.6  240.6  255.7  0.08 %
J&A Elliott Company(#,^)1118 Thornberry Dr, Clarksville, TN 37043Nonstore RetailersTerm LoanPrime plus 2.75%6/7/202910.2  10.2  10.5  — %
Throop Family Holding Inc dba Klamath Basin Metals and Supply, dba Rog(#,^)7130 Crater Lake Hwy, White City, OR 97503Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/7/202938.9  38.9  35.8  0.01 %
Johnny's Boy LLC(#,^)127 East King St., Martinsburg, WV 25401Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/7/2044100.7  100.7  106.2  0.03 %
Allison K. Chipak dba Still Photography(#)195 Terrace Place, Apt. 2, Brooklyn, NY 11218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/6/202912.2  12.2  12.1  — %
Skin Beauty Bar Inc(#,^)749 8th St., Washington, DC 20003Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/6/20295.1  5.1  4.4  — %
Pura Water Vending LLC(#,^)4427 Mixedwood Drive, Ladson, SC 29456Nonstore RetailersTerm LoanPrime plus 2.75%6/5/202966.2  66.2  62.4  0.02 %
Preferred Manufacturing Services Inc(#,^)4261 Business Drive, Cameron Park, CA 95682Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/5/2029461.8  461.8  481.6  0.15 %
Jamestown Quick Stop LLC(#,^)3097 24th Ave, Hudsonville, MI 49426Food and Beverage StoresTerm LoanPrime plus 2.75%6/5/204469.3  69.3  72.1  0.02 %
Oasis Senior Advisors Franchise Systems, LLC(#,^)24870 Burnt Pine Drive, Bonita Springs, FL 34134Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)Term LoanPrime plus 2.75%6/4/2029303.8  303.8  306.5  0.10 %
Italian Heritage Tile and Stone Inc(#,^)4748 Hopyard Rd, Pleasanton, CA 94588Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/4/202985.1  85.1  74.8  0.02 %
Evoke Growth Advisory LLC(#,^)2600 Brookwood Way Dr. #311, Rolling Meadows, IL 60008Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/3/20297.3  7.3  6.3  — %
Morey Publishing LLC(#,^)6901 Jericho Turnpike, Syosset, NY 11791Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/31/202960.4  60.4  52.9  0.02 %
G.S.A.T. Restoration Inc. dba Paul Davis Restoration & Remodeling of G(#,^)1450 Oakbrook Dr, Norcross, GA 30093Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/31/2029113.6  113.6  101.3  0.03 %
V & M Transportation LLC(#,^)1307 27th St. Apt B, North Bergen, NJ 07047Truck TransportationTerm LoanPrime plus 2.75%5/31/202912.8  12.8  11.1  — %
184
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Martin Inventory Management, LLC(#,^)304 1/2 Main St., Edgefield, SC 29824Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/31/202948.3  48.3  49.3  0.02 %
Dynamic Dental Corporation(#,^)3760 NW 126th Ave, Coral Springs, FL 33065Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/31/202960.4  60.4  53.0  0.02 %
Inside & Out Maintenance LLC(#,^)1698 SW Pancoast St., Port St Lucie, FL 34987Administrative and Support ServicesTerm LoanPrime plus 2.75%5/30/202996.8  96.8  84.7  0.03 %
Aspen Welding LLC(#,^)28803 US-6, Rifle, CO 81650Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%5/30/2044406.8  406.8  432.0  0.13 %
SSD Designs, LLC(#,^)486 Vance St., Forest City, NC 28043Chemical ManufacturingTerm LoanPrime plus 2.75%5/30/2044422.2  422.2  465.1  0.14 %
AGR, Inc(#,^)2-255555 Kaumualii Hwy, Kalaheo, HI 96741Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/2044781.2  781.2  856.3  0.27 %
Brooklyn Breakfast Shop LLC(#,^)7707 S IH 35 Frontage Rd, Austin, TX 78744Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/20294.8  4.8  4.5  — %
Canela Media Inc(#,^)2715 Palomino Circle, La Jolla, CA 92037Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/29/2029114.8  114.8  103.9  0.03 %
PD Financial LLC(#,^)364 Parsippany Rd, Unit 7-B, Parsippany, NJ 07054Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%5/28/204448.7  48.7  51.8  0.02 %
SV Enterprise LLC dba Haagen-Dazs(#,^)1885 Briargate Pkwy #D-413, Colorado Springs, CO 80920Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/24/202989.5  89.5  77.9  0.02 %
MCM Design LLC(#)5926 Vinings Vintage Way, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/23/20299.8  9.8  9.7  — %
Top Notch Roofing, Inc(#,^)46 Cherry St., Milton, VT 05468Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/23/2029118.9  118.9  106.6  0.03 %
2820 US HWY 98 N LLC dba Total Package Car Wash(#)2820 US Hwy 98 N, Lakeland, FL 33805Repair and MaintenanceTerm LoanPrime plus 2.75%5/23/202943.0  43.0  44.9  0.01 %
Clowers Trucking By Faith LLC(#)705 E Brookwood PL, Valdosta, GA 31601Truck TransportationTerm LoanPrime plus 6.5%5/23/202912.1  12.1  12.0  — %
McGuckin & Pyle Inc(#,^)120 Corporate Ln, New Bern, NC 28562Machinery ManufacturingTerm LoanPrime plus 2.75%5/23/2044306.3  306.3  325.4  0.10 %
ES&A, INC., A LAW CORPORATION(#,^)1003 Bishop St., Honolulu, HI 96813Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/22/2029108.8  108.8  95.4  0.03 %
Gratitude Training, LLC(#,^)1901 N Federal Hwy #212, Pompano Beach, FL 33062Administrative and Support ServicesTerm LoanPrime plus 2.75%5/22/202972.5  72.5  63.1  0.02 %
Bloomquist Communications Inc. dba FastSigns 42501(#,^)131 East Trinity Place, Decatur, GA 30030Miscellaneous ManufacturingTerm LoanPrime plus 2.75%5/22/202914.5  14.5  12.8  — %
Anchor Up Fitness and Nutrition, LLC(#,^)2464 US-29, Pensacola, FL 32505Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/21/202919.6  19.6  18.3  0.01 %
BD Branson Victorian LLC dba Branson Surrey Inn(#,^)430 a/k/a 450 S Hwy 165, Branson, MO 65616AccommodationTerm LoanPrime plus 2.75%5/17/2029247.6  247.6  258.2  0.08 %
Covalent Holding LLC(#,^)18 W Chestnut St. Unit 2F, Chicago, IL 60610Nonstore RetailersTerm LoanPrime plus 2.75%5/17/2029234.9  234.9  223.0  0.07 %
185
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
FibAire Communications, LLC Dba AireBeam(#,^)13589 S. Sunland Gin Rd, Arizona City, AZ 85123TelecommunicationsTerm LoanPrime plus 2.75%5/17/202953.7  53.7  51.1  0.02 %
Kappa Investments LLC dba Buddy's Home Furnishings(#,^)365 Lowe's Drive Ste H, Danville, VA 24540Rental and Leasing ServicesTerm LoanPrime plus 2.75%5/17/2029419.3  419.3  366.0  0.11 %
AMP Trucking Inc(#,^)1030 Gettysburg Ave, Clovis, CA 93161Truck TransportationTerm LoanPrime plus 2.75%5/16/2029252.1  252.1  219.1  0.07 %
CJNR LLC dba Chenney Bear Cafe, Elma Lodge & Suites, Parkhurst Motel,(#,^)208 East Main St., Elma, WA 98541AccommodationTerm LoanPrime plus 2.75%5/16/202918.1  18.1  18.9  0.01 %
Cut To The Chase 502 LLC(#,^)6903 Lakegreen Ct, Louisville, KY 40291Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/16/20293.3  3.3  3.0  — %
Aim High Leadership Center Four Inc.(#,^)97-08 Rockaway Blvd, Jamaica, NY 11417Educational ServicesTerm LoanPrime plus 2.75%5/16/202985.8  85.8  76.3  0.02 %
Zeb, LLC dba Papa John's(#,^)10235 W Roosevelt Rd, Westchester, IL 60154Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/16/202948.3  48.3  42.6  0.01 %
Two Pie Lovers LLC dba Pizza Outpost(#,^)302 E. Millitary Hwy U1122, Brackettville, TX 78832Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/10/204443.5  43.5  46.8  0.01 %
The Lobster Pot Inc(#,^)119 Hope St., Bristol, RI 02809Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/10/2044367.1  367.1  396.7  0.12 %
Crystal D. Walls dba Crystal's Cleaning Service(#)10862 Nichols Blvd, Olive Branch, MS 38654Administrative and Support ServicesTerm LoanPrime plus 6.5%5/9/20299.9  9.9  9.8  — %
Aloha To Go LLC(#,^)5903 Seminole Boulevard, Seminole, FL 33772Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/202914.9  14.9  13.0  — %
Blue Country Firearms LLC(#,^)221 N Main St, Kingsfisher, OK 73750Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/8/204420.9  20.9  21.2  0.01 %
Folklore Music Exchange LLC(#,^)617 Tennessee Ave, Charleston, WV 25302Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%5/6/20295.0  5.0  4.3  — %
NYM Solutions Inc.dba NYM Solutions, Inc(#)1250 NW 7th St. Ste 201, Miami, FL 33125Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%5/6/202912.2  12.2  12.1  — %
Global Enterprises LLC dba Verdi Pizza(#,^)3111 S Valley View Blvd, Las Vegas, NV 89102Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/3/202920.2  20.2  17.5  0.01 %
EPIFAB,LLC(#,^)1341 Brooks St. Unit D, Ontario, CA 91762Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%5/3/202920.6  20.6  18.9  0.01 %
Art Amore Studios, LLC(#,^)6507 Jester Blvd, Austin, TX 78750Educational ServicesTerm LoanPrime plus 2.75%5/3/20295.4  5.4  4.7  — %
Mark Garvin dba Tipsy Canyon Winery(#,^)150 Upper Joe Creek Rd, Manson, WA 98831Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%5/3/2044105.6  105.6  117.8  0.04 %
Life View Prenatal Imagery, LLC(#,^)312 79th Ave North, Myrtle Beach, SC 29572Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/3/20295.9  5.9  5.3  — %
Modern Trousseau, LLC(#,^)125 Bradley Rd, Woodbridge, CT 06525Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%5/1/2029302.1  302.1  296.8  0.09 %
186
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Disability Resolution P.A.(#)1619 Malon Bay Drive, Orlando, FL 32828Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%4/30/20294.3  4.3  4.3  — %
DeVega Juice Co, - East Cobb, LLC dba Clean Juice Johnson Ferry(#,^)1205 Johnson Ferry Rd Ste 124, Marietta, GA 30068Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/202961.8  61.8  61.3  0.02 %
Midlothian Hardware, Inc dba Grills True Value(#,^)475 West 147th St, Midlothian, IL 60445Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%4/29/202938.4  38.4  40.1  0.01 %
Pellegrin Marine Transportation, LLC(#,^)117 Country Village Drive, Raceland, LA 70394Support Activities for TransportationTerm LoanPrime plus 2.75%4/26/2029121.6  121.6  111.7  0.03 %
Sona USA, Inc(#,^)15280 NW 79th Ct Ste 109, Miami Lakes, FL 33016TelecommunicationsTerm LoanPrime plus 2.75%4/26/2029158.6  158.6  146.3  0.05 %
Benevolent International Inc(#,^)2781 Saturn St. Ste F, Brea, CA 82821Administrative and Support ServicesTerm LoanPrime plus 2.75%4/26/202975.7  75.7  65.8  0.02 %
ASM Partners LLC(#,^)1619 Roberts Drive SE, Mableton, GA 30126Nonstore RetailersTerm LoanPrime plus 2.75%4/26/2029234.7  234.7  221.3  0.07 %
Jones Roger Sherman Inn, Inc.(#,^)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/25/2029140.6  140.6  146.6  0.05 %
Alan Russell Moldof CPA dba Al Russell Moldof CPA(#)15105 John J Delaney Dr. #D 170, Charlotte, NC 28277Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%4/25/20294.8  4.8  4.8  — %
La Dolce Vita LLC.(#,^)196 N. Holiday Rd, Miramar Beach, FL 32550Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/25/2044467.7  467.7  509.3  0.16 %
La Dolce Vita, LLC, La Dolce Vita Watersports LLC, LDV Golf Cart & Bil(#,^)196 N. Holiday Rd, Miramar Beach, FL 32550Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/25/2029480.5  480.5  440.7  0.14 %
Kenzington LLC(#,^)324 Main St South, Stillwater, MN 55082Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%4/24/20293.1  3.1  2.7  — %
Quality Living Medical Alert, LLC(#,^)1882 Capital Circle NE, Ste 104, Tallahassee, FL 32308Social AssistanceTerm LoanPrime plus 2.75%4/24/202952.9  52.9  49.7  0.02 %
ER & DC McPherson Holdings, LLC(#,^)6957 W Broward Blvd., Plantation, FL 33317Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/19/202946.5  46.5  40.9  0.01 %
All My Best Inc.(#,^)4320 Anthony Court Ste 1,2,3, Rocklin, CA 95677Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%4/19/202960.1  60.1  54.3  0.02 %
Expert Building Services LLC(#,^)74 Roosevelt St., Pequannock Township, NJ 07440Administrative and Support ServicesTerm LoanPrime plus 2.75%4/17/202919.6  19.6  17.0  0.01 %
Rello, Inc. dba ID Salon(#)8063 Jericho Turnpike, Woodbury, NY 11797Personal and Laundry ServicesTerm LoanPrime plus 6.5%4/17/20295.8  5.8  5.8  — %
Bottles on Broadway, LLC(#,^)1083 N Broadway, North Massapequa, NY 11758Food and Beverage StoresTerm LoanPrime plus 2.75%4/17/2029123.7  123.7  109.5  0.03 %
2Choice2Friends dba 2 N 1 Salad Bar and Grill(#)901 W Braker Lane, Austin, TX 78758Food Services and Drinking PlacesTerm LoanPrime plus 6.5%4/17/202912.1  12.1  12.0  — %
187
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Modern Demo & Services LLC(#,^)10161 W Park Run Drive, Las Vegas, NV 89145Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/2029120.1  120.1  105.9  0.03 %
Pranamji Inc dba Ohara's Beverage Spot(#,^)2300 Levit Rd, Lorain, OH 44052Food and Beverage StoresTerm LoanPrime plus 2.75%4/16/204446.9  46.9  48.5  0.02 %
Cormac Enterprises, Inc(#,^)1205 38th Ave North, Myrtle Beach, SC 29577Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/16/202921.6  21.6  19.1  0.01 %
Bill Berger LLC(#,^)8728 Tireman Ave, Detroit, MI 48204Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%4/12/20298.7  8.7  7.5  — %
Southern Gulf Construction, Inc.(#,^)367 Pine Island Rd, North Fort Myers, FL 33903Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/2029106.9  106.9  103.6  0.03 %
J.T. ONeill Company, LLC(#,^)19972 Willowin Farm Lane, Purceville, VA 20132Real EstateTerm LoanPrime plus 2.75%4/12/20299.4  9.4  8.1  — %
Gilpin Enterprises, LLC dba Jon Smith Subs(#,^)17790 State Rd 54, Lutz, FL 33458Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/12/202976.0  76.0  67.9  0.02 %
CK Heating and Cooling LLC(#,^)10017 Pebble Beach Drive, St. Louis, MO 63114Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/202919.7  19.7  17.2  0.01 %
Samco Food Corp dba C-Town Supermarket(#,^)1761 Nostrand Ave, Brooklyn, NY 11226Food and Beverage StoresTerm LoanPrime plus 2.75%4/12/202995.5  95.5  83.0  0.03 %
P. Moss Enterprises, LLC dba Garage Experts-Mid Atlantic(#,^)3563 South River Terrace, Edgewater, MD 21037Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/12/202942.3  42.3  38.1  0.01 %
Engineered Edibles, LLC(#,^)7926 Santa Fe Drive, Overland Park, KS 66204Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/12/20298.7  8.7  7.5  — %
VC Media Partners LLC(#,^)22120 Clarendon St., Woodland Hills, CA 91367Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/12/2029122.3  122.3  106.6  0.03 %
Maxiflex LLC(#,^)512 Verret St., New Orleans, LA 70114Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%4/11/202960.1  60.1  62.6  0.02 %
VRGE Strategies LLC(#,^)1155 15th St NW, Washington, DC 20005Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/10/2029131.0  131.0  113.8  0.04 %
Georgetown Milling Co, LLC(#,^)9001 Wentworth Springs Rd, Georgetown, CA 95634Wood Product ManufacturingTerm LoanPrime plus 2.75%4/9/202912.3  12.3  11.1  — %
FRAJOVI Urban Air, LLC dba Urban Air Trampoline& Adventure Park(#,^)1256 Indian Head Rd, Toms River, NJ 08755Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%1/8/2030575.0  575.0  583.3  0.18 %
Marnon Enterprise LLC(#,^)6713 Biscay Hbr, San Antonio, TX 78249Administrative and Support ServicesTerm LoanPrime plus 2.75%4/5/20294.6  4.6  4.0  — %
Bose and Avinder, Inc.and Carmel and Preet Inc(#,^)28201 Date Palm Drive, Cathedral City, CA 92234Gasoline StationsTerm LoanPrime plus 2.75%4/5/202955.3  55.3  57.6  0.02 %
Ren Investment Group Inc dba True Positon Manufacturing(#,^)40 Sandra Drive, South Windsor, CT 06074Machinery ManufacturingTerm LoanPrime plus 2.75%3/29/2029829.1  829.1  732.4  0.23 %
188
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
J Brothers Enterprises, LLC(#,^)1101 NW 12TH Ave, Ava, MO 65608Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/29/2044639.5  639.5  650.0  0.20 %
La Favorita Radio Network(#,^)4043 Geer Rd, Hughson, CA 95326Broadcasting (except Internet)Term LoanPrime plus 2.75%3/29/2029358.9  358.9  323.0  0.10 %
EJ & James Transport LLC(#,^)3100 Drewsky Lane Unit 108, Fort Mills, SC 29715Truck TransportationTerm LoanPrime plus 2.75%3/29/20299.0  9.0  8.4  — %
Royalty Freight Inc.(#,^)3728 W McKinley Ave, Fresno, CA 93772Truck TransportationTerm LoanPrime plus 2.75%3/29/2029413.5  413.5  385.0  0.12 %
Reliable Power Group Inc. dba Batteries + bulbs Pensacola(#,^)6895 N. 9th Ave Ste B, Pensacola, FL 32504Repair and MaintenanceTerm LoanPrime plus 2.75%3/29/202995.5  95.5  83.1  0.03 %
Key HR Associates, Inc dba Parents Choice for Kids(#,^)3150 West Park Drive, Burnsville, MN 55306Social AssistanceTerm LoanPrime plus 2.75%3/29/2044449.9  449.9  463.0  0.14 %
Bright Freight Solution, LLC(#,^)1112 N Main St, Manteca, CA 95336Truck TransportationTerm LoanPrime plus 2.75%3/29/20291,158.3  1,158.3  1,058.5  0.33 %
Hamsons Inc.(#,^)4900 Hopyard Rd, Pleasanton, CA 94588Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%3/29/2029179.1  179.1  155.4  0.05 %
Pizzaplex L3C(#,^)4458 West Vernor Hwy, Detroit, MI 48209Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/202942.8  42.8  38.0  0.01 %
Bhatti LLC dba Auntie Ann's & Bhatti LLC 1(#,^)7219 Silver Mist Ave, North Chesterfield, VA 23237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/2029157.9  157.9  137.0  0.04 %
NuBe Business Group LLC(#,^)2140 44th St SE, Ste 201, Grand Rapids, MI 49508Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/204440.6  40.6  45.4  0.01 %
StillBasi Holdings, Inc. dba Buxton Auto Transport(#,^)9371 Jackson Rd, Sacramento, CA 95826Truck TransportationTerm LoanPrime plus 2.75%3/29/2029286.6  286.6  261.1  0.08 %
Felipe Antonio Del Valle M.D. P.A.(#,^)7190 SW 87th Ave Ste 203, Miami, FL 33173Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202914.3  14.3  12.4  — %
Raven's Place LLC(#,^)13031 S Western Ave, Blue Island, IL 60406Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/2044681.6  681.6  709.8  0.22 %
Stillwater Ventures, LLC(#,^)8272 W. Sunset Blvd, Los Angeles, CA 90048Nonstore RetailersTerm LoanPrime plus 2.75%3/29/2029397.5  397.5  376.2  0.12 %
Iredell Oral & Facial Surgery, P.C. dba Johnson Oral Surgery(#,^)229 Medical Park Rd, Ste 310, Mooresville, NC 28117Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/2044820.8  820.8  837.5  0.26 %
Outtasight Careers, LLC dba Gecko Hospitality(#,^)109 W Fern St., Tampa, FL 33604Administrative and Support ServicesTerm LoanPrime plus 2.75%3/29/202949.7  49.7  43.1  0.01 %
Turtle Shirts, LLC(#,^)10241 Metro Pkwy# 108, Ft Myers, FL 33966Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/29/202951.4  51.4  45.5  0.01 %
Bayco Enterprises, Inc(#,^)128 Cowesett Ave, West Warwick, RI 02893Gasoline StationsTerm LoanPrime plus 2.75%3/29/2044197.0  197.0  219.9  0.07 %
Peak Performance Associates LLC dba Nova Hypnosis and Wellnes(#,^)1485 Chain Bridge Rd #304-305, McLean, VA 22101Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/202957.3  57.3  49.8  0.02 %
189
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Knoxville Room Service(#,^)10670 Parkside Drive, Knoxville, TN 37922Food and Beverage StoresTerm LoanPrime plus 2.75%3/29/20296.4  6.4  5.8  — %
Complete Care IT LLC(#,^)4801 South University Drive Ste 125, Davie, FL 33328Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/202950.2  50.2  43.6  0.01 %
Skaggs RV Outlet ,LLC(#,^)301 Commerce Drive, Elizabethtown, KY 42701Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/28/2029238.9  238.9  248.7  0.08 %
J.C. Pallet Company, Inc.(#,^)18427 New Kent Hwy, Barhamsville, VA 23011Wood Product ManufacturingTerm LoanPrime plus 2.75%3/28/2029429.9  429.9  412.3  0.13 %
Cleland Pharmacy LLC(#,^)202 S First St., Wakeeney, KS 67672Health and Personal Care StoresTerm LoanPrime plus 2.75%3/28/202921.5  21.5  22.4  0.01 %
Four Seasons Laser Center Inc.(#,^)4720 NW 2nd Ave Unit D104-105, Boca Raton, FL 33498Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/28/202914.3  14.3  13.9  — %
Planet X Tobacco & Gift, LLC(#,^)900 W Northern Lights Blvd, Anchorage, AK 99503Miscellaneous Store RetailersTerm LoanPrime plus 2.75%3/28/2044283.3  283.3  306.1  0.10 %
Children First Home Health Care, Inc. dba Health Calls(#,^)1220 Broadcasting Rd Ste 202, Wyomissing, PA 19610Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/28/2029131.7  131.7  114.2  0.04 %
RG Productions LLC(#,^)2414 W Battlefield Ste H, Springfield, MO 65807Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/28/2029148.8  148.8  138.2  0.04 %
GS Bath Inc(#,^)5335 E. Kaviland Ave, Fresno, CA 93725Truck TransportationTerm LoanPrime plus 2.75%3/28/2029298.6  298.6  276.4  0.09 %
Custom Vinyl Products LLC(#,^)260 Enterprise Drive, Newport News, VA 23603Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/28/20441,003.8  1,003.8  1,056.1  0.33 %
Cocomo Joe's LLC(#,^)3949 New Rd, Youngstown, OH 44515Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/20293.3  3.3  3.1  — %
PA Sobol Partners LLC dba Sobal(#,^)206 Rohrerstown Rd, Lancaster, PA 17603Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/28/202948.9  48.9  43.9  0.01 %
Cinco Fit LLC dba Cinco Fit(#,^)23010 Highland Knolls Blvd, Ste G, Katy, TX 77494Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/27/2029157.6  157.6  136.8  0.04 %
Ocean Trans LLC and Dehal Trucking LLC(#,^)1415 W Anderson St., Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%3/27/202971.1  71.1  74.1  0.02 %
Danielle Vance LPC, LLC dba Danielle Vance MA, LPC(#,^)2543 Eliot St., Denver, CO 80211Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/27/20295.4  5.4  4.7  — %
DC AG, LLC dba Big B Sales(#,^)674 LA- 8, Sicily Island, LA 71368Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/27/2044582.8  582.8  602.4  0.19 %
Heritage Hills Athletics 1, LLC and Heritage Hills Athletics 1, LLC(#,^)2880 Carol Rd, East York, PA 17402Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/26/20441,239.3  1,239.3  1,301.4  0.40 %
District 5 Boutique LLC(#,^)317 N Farview Ave, Paramus, NJ 07652Nonstore RetailersTerm LoanPrime plus 2.75%3/26/2029119.4  119.4  103.6  0.03 %
J & C May Properties, LLC(#,^)315 Sylamore Ave, Mountain View, AR 72560Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/22/20441,124.0  1,124.0  1,105.0  0.34 %
190
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Virginia Industrial Plastics, Inc.(#,^)2454 NE Side Hwy, Elkton, VA 22827Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/22/2044294.0  294.0  327.8  0.10 %
Skyways, LTD(#,^)350 15th St. NW, Huron, SD 57350Support Activities for TransportationTerm LoanPrime plus 2.75%3/22/2029788.5  788.5  690.1  0.21 %
Gary Krause dba Gary Krause Landscaping & Design(#,^)489 Hamilton Rd, Jacksonville, OR 97530Administrative and Support ServicesTerm LoanPrime plus 2.75%3/22/20295.7  5.7  5.3  — %
Virginia Industrial Plastics, Inc.(#,^)2454 NE Side Hwy, Elkton, VA 22827Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/22/2029258.7  258.7  269.3  0.08 %
The Karate Dojo LLC(#,^)21 S Hope Chapel Rd, Jackson, NJ 08527Educational ServicesTerm LoanPrime plus 2.75%3/21/20294.3  4.3  3.7  — %
Pitman Holding LLC(#,^)1116 E Main St, Richmond, VA 23219Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/21/20297.2  7.2  6.5  — %
American Trails Transport, LLC(#,^)8704 Grand Ave, Billings, MT 59106Truck TransportationTerm LoanPrime plus 2.75%3/21/202952.5  52.5  48.3  0.01 %
Dependable Lawn Care, Inc.(#,^)2320 138th St., Blue Island, IL 60406Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/21/2029500.2  500.2  459.0  0.14 %
Dependable Lawn Care, Inc.(#,^)2320 138th St., Blue Island, IL 60406Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/21/2044189.1  189.1  207.4  0.06 %
Mega Trucking LLC and Olyimpian Industries LLC(#,^)5979 NW 151st St, Miami Lakes, FL 33014Truck TransportationTerm LoanPrime plus 2.75%3/20/2029383.0  383.0  360.6  0.11 %
Michigan Neurosurgical Institute P.C.(#,^)9400 S Saginaw St., Unit 1, Grand Blanc, MI 48439Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/20/2029173.2  173.2  150.9  0.05 %
Sound Manufacturing Inc(#,^)1 Williams Lane, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/20/202947.8  47.8  41.4  0.01 %
Michigan Neurosurgical Institute, P.C.,,Optical Spine,LLC, MNI Great L(#,^)9400 S Saginaw St., Unit 1, Grand Blanc, MI 48439Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/20/2044352.0  352.0  361.5  0.11 %
Frontline Selling LLC(#,^)6505 Shiloh Rd #300,310,320, Alpharetta, GA 30005Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/19/2029298.6  298.6  310.6  0.10 %
Game Station, Inc.(#,^)2917 1st Ave SE, Cedar Rapids, IA 52402Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/19/2029250.8  250.8  230.4  0.07 %
Marvellous Print & Ship LLC(#,^)605 W Main St., Oxford, KS 67119Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/19/20293.2  3.2  2.8  — %
Panetcarne Inc.dba Jersey Mike's Subs Greenfield(#,^)23077 Greenfield Rd, Southfield, MI 48075Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/202988.9  88.9  78.9  0.02 %
Stepping Stones Children's Academy LLC(#,^)1655 E Warm Springs Rd, Las Vegas, NV 89119Social AssistanceTerm LoanPrime plus 2.75%3/15/2044371.8  371.8  393.9  0.12 %
Vanchoc Transport Inc(#,^)137 3rd St, Brooklyn, NY 11231Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/15/202983.7  83.7  72.7  0.02 %
B & W Towing LLC(#,^)701 Addison Rd, Painted Post, NY 14870Support Activities for TransportationTerm LoanPrime plus 2.75%3/15/202954.9  54.9  56.7  0.02 %
191
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Screening Services Group, LLC(#,^)8670 Wilshire Blvd, Beverly Hills, CA 90211Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/14/2029268.9  268.9  240.0  0.07 %
Space Express, LLC(#,^)2775 Burris Rd, Davie, FL 33314Truck TransportationTerm LoanPrime plus 2.75%3/12/2029143.4  143.4  127.6  0.04 %
Mill Creek Early Childhood Program LLC(#,^)510 South Batavia Ave, Batavia, IL 60510Social AssistanceTerm LoanPrime plus 2.75%8/11/202960.9  60.9  53.0  0.02 %
Precise Air Systems, Inc(#,^)5467 W San Fernando Rd, Los Angeles, CA 90039Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/8/2029251.2  251.2  220.9  0.07 %
Alpine Remediation, Inc, T & M Holdings, LLC(#,^)14252 W 44th Ave Unit F, Golden, CO 80403Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/8/202983.7  83.7  78.1  0.02 %
Kalloren Provel LLC(#,^)6919 Oak Ridge Commerce Way, Austell, GA 30168Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/8/2044281.3  281.3  298.0  0.09 %
D & S Village Hardware LLC dba Cedar Mountain Country Store & Samantha(#,^)3695 Movie Ranch Rd, Duck Creek, UT 84762Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/8/2044200.0  200.0  215.9  0.07 %
Wildflour Bakery & Cafe LLC(#,^)5137 Clareton Dr #100,110,120, Agoura Hills, CA 91301Food ManufacturingTerm LoanPrime plus 2.75%3/8/202983.6  83.6  72.5  0.02 %
SG Welch Inc dba Sparks Auto Service(#,^)19138 Molalla Ave, Oregon City, OR 97045Repair and MaintenanceTerm LoanPrime plus 2.75%3/8/202959.7  59.7  52.9  0.02 %
Seeds of Knowledge Creative Learning Center LLC(#,^)15101 West McNichols Rd, Detroit, MI 48235Social AssistanceTerm LoanPrime plus 2.75%3/7/204422.3  22.3  24.0  0.01 %
Doble Rentals, L.L.C , Doble Rentals 2, LLC, Doble Rentals 3, LLC(#,^)487 Elizabeth Lake Rd, Waterford, MI 48328Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/4/2029150.5  150.5  130.6  0.04 %
Midwest Expediated Carrier Corporation(#,^)2200 N Stonington Ave #120, Hoffman Estates, IL 60169Support Activities for TransportationTerm LoanPrime plus 2.75%3/1/202914.3  14.3  12.4  — %
Monkey Bones LLC(#,^)3361 Dayton Xenia Rd, Beavercreek, OH 45432Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/204419.3  19.3  21.5  0.01 %
Wooter Apparel, Inc(#,^)727 Page Ave., Staten Island, NY 10307Nonstore RetailersTerm LoanPrime plus 2.75%2/28/202947.5  47.5  42.0  0.01 %
NY Scoops LLC dba Cool Suppliers and Breakneck Road LLC(#,^)20 Silver Fox Lane, Sussex, NJ 07461Food ManufacturingTerm LoanPrime plus 2.75%2/28/202948.4  48.4  46.5  0.01 %
KSW Agency Inc.(#,^)330 Milltown Rd, Ste 22E, East Brunswick, NJ 08816Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%2/28/202914.3  14.3  14.9  — %
Woodard Electric Services, Inc.(#,^)1600 Carter Cove Rd, Hayesville, NC 28904Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/202920.5  20.5  18.1  0.01 %
Shah Medical Center SC & Heeena Shyamani(#,^)484 Summit St, Elgin, IL 60120HospitalsTerm LoanPrime plus 2.75%2/28/2044251.3  251.3  247.6  0.08 %
Legacy Roof Contractors LLC(#,^)32091 Broken Branch Circle, Spanish Fort, AL 36527Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/2044297.1  297.1  305.0  0.09 %
192
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Matrix Z LLC(#)800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 6.5%2/27/202912.0  12.0  11.9  — %
Merdad Dentistry PLLC dba Easy Dental Care(#,^)7522 Old Linton Hall Rd, Gainesville, VA 20155Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/26/202915.0  15.0  13.0  — %
Harbor Management Company Inc dba Jamba Juice(#,^)5501 Josh Birmingham Pkwy Concourse A, Charlotte, NC 28208Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/22/2029142.5  142.5  125.1  0.04 %
EasyBooks, Inc.(#,^)949 Turquoise St., San Diego, CA 92109Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/22/20295.7  5.7  4.9  — %
Mia Restoration Inc dba PuroClean and Puroclean of Morristown NJ(#,^)3633 B Hill Rd, Parsippany, NJ 07054Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/21/202939.2  39.2  35.1  0.01 %
Gomez Advanced Wellness Center, Inc.(#,^)2418 Central Ave, Charlotte, NC 28205Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/21/2044148.6  148.6  156.5  0.05 %
Citiline Cafe At Jacobs Plaza, LLC dba Citiline Cafe(#,^)12140 Wickchester Ln STE 130, Houston, TX 77079Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/20/202946.6  46.6  40.4  0.01 %
Bowl 360 Inc.(#,^)98-18 Rockaway Blvd, Ozone Park, NY 11417Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/2029154.5  154.5  144.3  0.04 %
Bowl 360 Inc.(#,^)98-18 Rockaway Blvd, Far Rockaway, NY 11417Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/19/2029132.5  132.5  115.5  0.04 %
Rob Barletta's Hockey School, Inc(#,^)2130 Providence Hwy, Walpole, MA 02081Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%2/19/2029103.3  103.3  107.6  0.03 %
Outler Transportation Services,LLC(#,^)3775 Carriage Downs CT SW, Snellville, GA 30039Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/19/202942.7  42.7  37.8  0.01 %
M & M Burgers Inc dba Checkers(#,^)530 Willis Ave, Bronx, NY 10455Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/2029109.4  109.4  97.0  0.03 %
Integris Roofing, Inc(#,^)1174 Yellostone Drive, Lake Arrowhead, CA 92532Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/15/202921.4  21.4  18.5  0.01 %
Tony Herring & Associates, Inc(#,^)211 West Camellia Drive, Slidell, LA 70458Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%2/14/202914.2  14.2  14.8  — %
Gateway Veterinary Services, P.C. dba Liberty Animal Clinic(#,^)9212 Liberty Ave, Ozone Park, NY 11417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/14/2044137.0  137.0  152.8  0.05 %
Par-Man, Inc. dba Rockstar Tattoo(#,^)450 Fremont St #109 and 113, Las Vegas, NV 89101Health and Personal Care StoresTerm LoanPrime plus 2.75%2/14/202959.5  59.5  52.2  0.02 %
KHSE Parks, Inc.(#,^)600 West Charles St., Matthews, NC 28105Administrative and Support ServicesTerm LoanPrime plus 2.75%2/14/202978.4  78.4  68.0  0.02 %
Precedence Enterprises LLC dba Spartan Junk Removal(#,^)8101 Sandy Spring Rd Ste 250N, Laurel, MD 20707Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/8/202915.6  15.6  14.3  — %
Pamletics LLC dba F45(#,^)22015 IH 10 West, San Antonio, TX 78249Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/8/20293.6  3.6  3.4  — %
Shepherd Fitness, LLC dba Workout Anytime Ooltewah(#,^)9408 Apison Pike, Ste 11, Ooltewah, TN 37363Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/8/2029160.2  160.2  147.0  0.05 %
193
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
EJGR Corp dba Brite Energy Solutions(#,^)87 Main St Upper Lvl, Hastings-on-Hudson, NY 10706UtilitiesTerm LoanPrime plus 2.75%2/8/202959.4  59.4  51.7  0.02 %
Creative Counseling Nashville PLLC(#,^)4119 Gallatin Pike, Nashville, TN 37216Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/7/20292.1  2.1  1.8  — %
Better Dayz PT, Inc. dba Physical Therapy Now(#,^)2804 NE 8th St. #203-206, Homestead, FL 33033Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/7/202921.4  21.4  18.7  0.01 %
D & G Elite Construction, Inc.(#,^)217 Goldenrod Ave, Franklin Square, NY 11010Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/6/2029123.6  123.6  128.7  0.04 %
RIHAHN INC dba RDBL, INC.(#,^)1397 McGuire Rd, Lamar, AR 72846Forestry and LoggingTerm LoanPrime plus 2.75%2/5/20296.6  6.6  6.8  — %
Hernando Beach Motel Inc.,The Purple Cow House of Pancake Inc(#,^)4291 Shoal Line Boulevard, Hernando Beach, FL 34607AccommodationTerm LoanPrime plus 2.75%2/1/202914.2  14.2  14.8  — %
Jesus and Son's Landscape Contractors, LLC(#,^)4371 Durham Court, Denver, CO 80239Administrative and Support ServicesTerm LoanPrime plus 2.75%2/1/202954.6  54.6  48.8  0.02 %
Employer Resource Services LLC dba Data Pool(#,^)500 Research Rd, Richmond, VA 23236Administrative and Support ServicesTerm LoanPrime plus 2.75%1/31/202935.7  35.7  30.9  0.01 %
MYC Motors Inc(#,^)3808 Vegas Drive, Las Vegas, NV 89108Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%1/30/204474.3  74.3  82.8  0.03 %
FNF LLC dba WineStyles(#,^)11109 Old Seward Hwy, Anchorage, AK 99515Food and Beverage StoresTerm LoanPrime plus 2.75%1/22/2029233.8  233.8  203.0  0.06 %
IGWT Coffee, LLC dba PJ's Coffee of New Orleans(#,^)414 Union St, Nashville, TN 37219Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/18/202977.9  77.9  67.6  0.02 %
MMC Investors, LLC dba Clean Juice(#,^)2879 W 95th St. Ste 195, Naperville, IL 60564Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/18/202983.8  83.8  74.2  0.02 %
Hilco Athletics & Graphics Inc(#,^)55 Green Hill St., West Warwick, RI 02816Apparel ManufacturingTerm LoanPrime plus 2.75%1/16/204468.2  68.2  76.0  0.02 %
CMLCLEARWATERBEACH.LLC dba Cousins Maine Lobster(#,^)309 Coronado Drive, Clearwater Beach, FL 33767Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/11/202984.7  84.7  74.5  0.02 %
Fluid Connections LLC dba BurgerIM(#,^)174 El Cerrito Plaza, El Cerrito, CA 94530Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/11/202959.1  59.1  54.6  0.02 %
HSR Tacos LLC dba California Tortilla(#,^)11694 Sudley Manor Drive, Manassas, VA 20109Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/11/202951.5  51.5  44.7  0.01 %
Rashed and Shabila LLC(#,^)14865 Hwy 92, Woodstock, GA 30188Gasoline StationsTerm LoanPrime plus 2.75%1/4/202921.2  21.2  19.7  0.01 %
Romain Tower Inc. David Romaine, Sugar Land Crane and Rigging, LLC(#,^)215 S Persimmon St., Tomball, TX 77375Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/31/2028223.4  223.4  193.8  0.06 %
The Chop House Inc.(#,^)191 Old Tower Hill Rd., South Kingstown, RI 02879Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/31/2043552.0  552.0  572.4  0.18 %
194
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Capitol Fitness Inc. dba Anytime Fitness Shelby(#,^)49045 Van Dyke Ave, Shelby Charter Township, MI 48317Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/28/202817.1  17.1  15.5  — %
Omega Funeral and Cremation Services,LLC(#,^)9503 Kenwood Rd, Cincinnati, OH 45242Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/28/2043339.3  339.3  353.6  0.11 %
American Rewinding of NC Inc dba MTS(#,^)1825 N Rocky River Rd, Monroe, NC 28110Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/28/2028402.6  402.6  368.3  0.11 %
Superior Concepts Acquisition Corp(#,^)1710 Tiles Court, Grand Haven, MI 49417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/28/2043504.4  504.4  509.3  0.16 %
Superior Concepts Acquisition Corp(#,^)1710 Tiles Ct, Grand Haven, MI 49417Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/28/2028112.6  112.6  102.7  0.03 %
Galt Insurance Group of Bonita Springs, LLC & Bonita Safety Institut(#,^)10911 Bonita Beach Rd SE #104A & 104B, Bonita Springs, FL 34135Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%12/28/204318.6  18.6  20.7  0.01 %
Nix and Nix Funeral Home North Inc,(#,^)1621 W. Dauphin St., Philadelphia, PA 19132Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/28/2043566.0  566.0  614.5  0.19 %
Fave Realty Inc.(#,^)74 Larkfield Rd, East Northport, NY 11731Real EstateTerm LoanPrime plus 2.75%12/27/2043122.2  122.2  136.3  0.04 %
Medworxs Inc.(#,^)6857 Timbers Drive, Evergreen, CO 80439Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/27/20289.9  9.9  8.5  — %
East Breeze LLC dba Historic Springdale Pub and Eatery(#,^)32302 E Historic Columbia Riv Hwy, Corbett, OR 97019Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/27/2043126.9  126.9  136.0  0.04 %
Children First Home Health Care Inc(#,^)1220 Broadcasting Rd Ste 202, Wyomissing, PA 19610Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/27/2028282.4  282.4  267.0  0.08 %
Green Valley Landscape Management Inc. dba Apopka Mower and Equipment(#,^)2975 W Orange Blossom Trail, Apopka, FL 32712Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2043459.9  459.9  473.8  0.15 %
Reservations Unlimited LLC(#)312 W Main St., Red River, NM 87558Real EstateTerm LoanPrime plus 2.75%12/26/2043140.8  140.8  151.2  0.05 %
Timios Enterprises Corp dba Palm Court(#,^)1912 N Arlington Hts Rd, Arlington Heights, IL 60004Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/24/2043700.4  700.4  739.5  0.23 %
RM Hawkins LLC(#,^)5141 Topaz Drive, Colorado Springs, CO 80918Nonstore RetailersTerm LoanPrime plus 2.75%12/24/2028281.6  281.6  260.3  0.08 %
BD Branson Victorian LLC dba Branson Victorian Inn(#,^)450 South Hwy 165, Branson, MO 65616AccommodationTerm LoanPrime plus 2.75%12/24/2043492.5  492.5  530.6  0.16 %
Royalty Freight Inc(#,^)3728 W McKinley Ave, Fresno, CA 93722Truck TransportationTerm LoanPrime plus 2.75%12/21/202891.7  91.7  79.4  0.02 %
Kyle M Walker DDS, PC(#,^)1402 W Park Ave, Orange, TX 77630Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/2028105.8  105.8  91.6  0.03 %
The Law Office of Jared E. Shapiro, P.A(#,^)7777 Glades Rd Ste 100, Boca Raton, FL 33434Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/202810.6  10.6  9.2  — %
195
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Burgess and Dudley, Incorporated(#,^)24462 NW 9th Place, Newberry, FL 32669Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/21/2028223.5  223.5  203.1  0.06 %
Diamond Estates LLC(#,^)110 Court St Ste 1, Cromwell, CT 06416Construction of BuildingsTerm LoanPrime plus 2.75%12/21/202870.5  70.5  61.1  0.02 %
Fifth Wheel Truck Stop 001, Inc.(#,^)3767 South Golden State Blvd, Fresno, CA 93725Gasoline StationsTerm LoanPrime plus 2.75%12/21/2028100.0  100.0  86.6  0.03 %
Sesolinc GRP, Inc.(#,^)806 Randy Lowery Rd, Statesboro, GA 30461Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/21/2028352.3  352.3  329.7  0.10 %
ETS Tree Service Inc and Eastern Tree Service, Inc(#,^)4813 Pinson Valley Parkway, Birmingham, AL 35215Administrative and Support ServicesTerm LoanPrime plus 2.75%12/21/2028216.1  216.1  200.4  0.06 %
D.A.F.S Transport, LLC(#,^)207 S. Teresa St., Monahans, TX 79756Truck TransportationTerm LoanPrime plus 2.75%12/21/2028620.1  620.1  613.0  0.19 %
Precision Bytes LLC dba Tower Connect(#,^)607 West Magnolia Ave, Fort Worth, TX 76104Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/2028121.9  121.9  105.6  0.03 %
Accel Compression Inc.,Accel Workover Services Inc dba Mica Tool & Tur(#,^)4500 S Country Rd, Odessa, TX 79768Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/21/2044169.0  169.0  188.7  0.06 %
LP Industries, Inc and Playground Packages, LLC(#,^)2040 Norwood, Lenoir, NC 28645Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/21/202888.6  88.6  77.0  0.02 %
Cammarata Associates LLC(#,^)5 Greentree Center, Marlton, NJ 08053Credit Intermediation and Related ActivitiesTerm LoanPrime plus 2.75%12/21/202870.4  70.4  61.0  0.02 %
Baseline Health, LLC & Baseline Health Management, LLC(#,^)1101 Stewart Ave Ste 104, Garden City, NY 11530Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/2028111.6  111.6  98.8  0.03 %
C&D Trucking & Equipment Service, Inc.(#,^)4015 Jennings Rd, Cleveland, OH 44109Repair and MaintenanceTerm LoanPrime plus 2.75%12/21/2043116.0  116.0  129.3  0.04 %
Roots N Shoots, LLC & Yardplus LLC(#,^)86 Boston Rd, Chelmsford, MA 01824Administrative and Support ServicesTerm LoanPrime plus 2.75%12/20/202850.7  50.7  45.0  0.01 %
Healthy and Fresco LLC(#,^)1671 Belle Isle Ave, Ste 110 #C, Mt Pleasant, SC 29464Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/20/202943.2  43.2  38.8  0.01 %
Flashii App, Inc.(#,^)75 E Santa Clara St, San Jose, CA 95113Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202858.7  58.7  60.2  0.02 %
Graff Excavating, Inc(#,^)803 E State St., Toledo, IA 52342Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/20/2028183.7  183.7  161.8  0.05 %
Alaska Motor Home Inc(#,^)6633 Brayton Drive, Anchorage, AK 99507Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2028281.8  281.8  264.0  0.08 %
Local Liberty Inc dba The Wardsboro Country Store(#,^)23 Main St., Wardsboro, VT 05355Food and Beverage StoresTerm LoanPrime plus 2.75%12/20/2043153.7  153.7  164.8  0.05 %
Yellow Fin Marine Services LLC, K Marine XI, LLC K Marine VIII, LLC(#,^)2043 Coteau Rd, Houma, LA 70364Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/20/2028543.4  543.4  537.8  0.17 %
Hotel Compete, LLC(#,^)223 W Jackson Blvd, Chicago, IL 60606Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202858.7  58.7  50.8  0.02 %
196
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
CK Green Partners, LLC dba Reis and Irvy"s Columbus(#,^)5010 Augusta Drive, Westerville, OH 43082Nonstore RetailersTerm LoanPrime plus 2.75%3/20/2029178.3  178.3  168.3  0.05 %
Marlin Lighting LLC(#,^)7207 B Lockport Pl, Lorton, VA 22079Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/19/202895.6  95.6  82.8  0.03 %
The Cromer Company(#,^)9800 NW 78th Ave, Hialeah Gardens, FL 33016Miscellaneous Store RetailersTerm LoanPrime plus 2.75%12/19/2028469.7  469.7  408.5  0.13 %
Sheldon T Banks and Sheldon T Banks LLC dba Serenity Funeral chapel ll(#)G-2340 West Carpenter Rd, Flint, MI 48505Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/19/2044416.5  416.5  446.5  0.14 %
Goodson's Garden, LLC dba Always Goldies Florist(#,^)1812 Pulaski Hwy Ste A, Edgewood, MD 21040Miscellaneous Store RetailersTerm LoanPrime plus 2.75%12/19/202811.3  11.3  10.0  — %
JejoJesi Corp dba Dukunoo Jamaican Kitchen, Dunkunoo(#,^)316 NW 24th St., Miami, FL 33180Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/19/202970.1  70.1  65.2  0.02 %
Accent Comfort Services, LLC(#,^)5035 W. W.T. Harris Blvd Ste C, Mecklenburg, NC 28269Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/19/202864.7  64.7  56.5  0.02 %
Cordoba Foods LLC, Multi Logistics Network Inc, Karina Mena(#,^)4477 E 11th Ave, Hialeah, FL 33013Food ManufacturingTerm LoanPrime plus 2.75%12/14/2028298.3  298.3  271.7  0.08 %
Healthy Human, LLC(#,^)1007 Johnnie Dodds Blvd, Ste 123, Mt Pleasant, SC 29464Nonstore RetailersTerm LoanPrime plus 2.75%12/14/2028117.4  117.4  101.7  0.03 %
Sound Contracting LLC(#,^)148 Holmgren Place, Girdwood, AK 99587Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/14/2043195.3  195.3  203.7  0.06 %
Stony Creek Wellness Group, LLC(#,^)264 Church St, Guilford, CT 06437Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/14/204397.7  97.7  105.0  0.03 %
Sound Contracting LLC(#,^)148 Holmgren Place, Girdwood, AK 99587Construction of BuildingsTerm LoanPrime plus 2.75%12/14/202839.2  39.2  36.5  0.01 %
Alpha Omega Trucking LLC(#,^)14432-14452 Stateline Rd, Brookings, OR 97415Truck TransportationTerm LoanPrime plus 2.75%12/14/202865.9  65.9  68.5  0.02 %
YBL Restaurant Group LLC dba Tropisueno(#,^)75 Yerba Buena Lane, San Francisco, CA 94103Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/14/2029359.1  359.1  314.4  0.10 %
Alpha Landscape Contractors, Inc(#,^)2823 Fllintstone Rd, Millers, MD 21102Administrative and Support ServicesTerm LoanPrime plus 2.75%1/14/2029313.4  313.4  287.1  0.09 %
Ventures TBD LLC dba The Bottle Tree(#,^)102 Davis St., Belmont, NC 28012Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/204397.7  97.7  101.0  0.03 %
Mediterranean Tastes Inc dba Mediterranean Tastes Since 1974(#,^)196-15 Northern Blvd, Flushing, NY 11318Food and Beverage StoresTerm LoanPrime plus 2.75%12/14/202814.8  14.8  12.9  — %
Peanut Butter & Co., Inc.(#,^)119 West 57th St., Ste 300, New York, NY 10019Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/14/2028234.9  234.9  203.5  0.06 %
L&M Services, LLC(#,^)560 Main St., Milford, UT 84751Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%12/14/2043197.9  197.9  208.5  0.06 %
197
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Aero Consulting and Engineering Inc(#,^)7941 NW 3rd St., Plantation, FL 33324Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/202814.1  14.1  12.2  — %
Fitness Orlando LLC & Fitness Orlando Oviedo, LLC(#,^)160 Tuskawilla Rd Ste 1214, Winter Springs, FL 32708Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/14/2028258.8  258.8  234.8  0.07 %
Tapia Auto Care, LLC dba Shoreline Quick Lube and Car Wash(#,^)2 Center Rd, Old Saybrook, CT 06475Repair and MaintenanceTerm LoanPrime plus 2.75%12/13/2043967.3  967.3  992.6  0.31 %
D for Dream LLC dba Blo Blow Dry Bar Inc(#,^)460 East 3rd Ave, New York, NY 10016Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/13/202970.9  70.9  61.7  0.02 %
United States Plastic Equipment LLC(#,^)4447 OH-303, Mantua, OH 44255Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/13/2028137.1  137.1  118.8  0.04 %
Burton Realty Co., Inc dba Anchor Realty, Northeast(#,^)2200 Michener St Ste 12, Philadelphia, PA 19115Real EstateTerm LoanPrime plus 2.75%12/13/2028284.6  284.6  246.6  0.08 %
The Miller Center for Esthetic Excellence,(#,^)22 Old Short Hills Rd, Livingston, NJ 07039Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/13/2043384.3  384.3  378.2  0.12 %
Plan B Burger LLC(#,^)484 Farmington Ave, Hartford, CT 06105Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/13/2029986.6  986.6  899.9  0.28 %
OC Helicopters LLC(#,^)19711 Campus Drive Ste 260, Santa Ana, CA 92707Air TransportationTerm LoanPrime plus 2.75%12/13/202884.7  84.7  88.1  0.03 %
Tier1 Solutions LLC(#,^)1000 Essington Rd Ste 111, Joliet, IL 60435Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/12/20299.6  9.6  8.3  — %
Behind The Scenes Chicago, LLC dba Paramount Events(#,^)1750 W Lake St, Chicago, IL 60612Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/12/2029240.8  240.8  235.1  0.07 %
Mateo Enterprise Inc dba El Milagro Market(#,^)575 Panama Lane, Bakersfield, CA 93307Food and Beverage StoresTerm LoanPrime plus 2.75%12/12/2043118.8  118.8  122.7  0.04 %
Mateo Enterprise Inc dba El Milagro Market(#,^)575 Panama Lane, Bakerfield, CA 93307Food and Beverage StoresTerm LoanPrime plus 2.75%1/12/202956.4  56.4  48.9  0.02 %
Ashwood Food Services, Incorporated dba Jake Rooney's(#,^)119 Brooks Rd, Harwich Port, MA 02646Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/12/202963.4  63.4  58.0  0.02 %
Ashwood Food Services Inc. dba Jake Rooney's(#,^)119 Brooks Rd, Harwich Port, MA 02646Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/12/2043212.8  212.8  231.0  0.07 %
Airstrike Firefighters LLC(#,^)18115 62nd Ave NE, Kenmore, WA 98028Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%12/12/20281,174.3  1,174.3  1,112.0  0.35 %
Anglin Cultured Stone Products LLC dba Anglin Construcion(#)877 Salem Church Rd, Newark, DE 19702Specialty Trade ContractorsTerm Loan8.25%1/12/202960.8  60.8  56.8  0.02 %
Duck's Nuts Inc dba Pet Place Market(#,^)212 Bendigo Blvd. N, North Bend, WA 98045Miscellaneous Store RetailersTerm LoanPrime plus 2.75%1/11/202940.6  40.6  37.9  0.01 %
Hilltop Wine Shop, Inc dba Hiltop Wine Shop(#,^)7505 Highland Rd, White Lake, MI 48383Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/11/2043126.7  126.7  133.2  0.04 %
TFE Resources ,LTD(#,^)11 Easter Court Ste G, Owings Mills, MD 21117UtilitiesTerm LoanPrime plus 2.75%1/11/2029561.4  561.4  503.9  0.16 %
198
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Oregon Medical Training Private Career School Inc.(#,^)1126 Gateway Loop Ste 108, Springfield, OR 97702Educational ServicesTerm LoanPrime plus 2.75%1/11/202937.6  37.6  32.6  0.01 %
Googlyoogly, LLC dba Bi-Rite Supermarket(#,^)10867 W Jefferson Ave, River Rouge, MI 46218Food and Beverage StoresTerm LoanPrime plus 2.75%12/11/2043200.9  200.9  207.7  0.06 %
White Wilson & Associates LLC(#,^)16238 Louis Ave., South Holland, IL 60473Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/11/204342.1  42.1  43.4  0.01 %
EMES Supply, LLC(#,^)35622 Vine St., EastLake, OH 44095General Merchandise StoresTerm LoanPrime plus 2.75%1/11/2029117.8  117.8  104.7  0.03 %
B&B Bodega of Delray LLC(#,^)190 NE 2nd Ave, Delray Beach, FL 33444Food and Beverage StoresTerm LoanPrime plus 2.75%1/11/202914.5  14.5  12.7  — %
Team Henry, LLC dba Kelly Automotive of Deltona(#,^)1290 Doyle Rd, Deltona, FL 32725Repair and MaintenanceTerm LoanPrime plus 2.75%12/10/2043387.2  387.2  398.6  0.12 %
ZLM Services LLC(#,^)51343 Oro Rd, Shelby Township, MI 33444Administrative and Support ServicesTerm LoanPrime plus 2.75%1/10/202937.6  37.6  32.6  0.01 %
Food Service Industry Consultants Inc.(#,^)1465 Kelly Johnson Blvd, Colorado Springs, CO 80920Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/7/202967.2  67.2  58.5  0.02 %
Shining Star Kids, Inc. dba Brain Balance(#,^)17323 Ventura Blvd, Encino, CA 91316Educational ServicesTerm LoanPrime plus 2.75%1/7/202982.3  82.3  71.9  0.02 %
3SIXO Motorsports LLC dba 3SIXO Motorsports Shop(#,^)217 W Main St., Centralia, WA 98531Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%1/6/202994.6  94.6  82.6  0.03 %
CET Inc(#,^)4709 N El Capitan Ave Ste 205, Fresno, CA 93722Truck TransportationTerm LoanPrime plus 2.75%1/6/20291,154.6  1,154.6  1,045.1  0.32 %
Metro R Services Inc. and Metal & Roof Supplies Inc.(#,^)20 Universal Place, Carlstadt, NJ 07072Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/6/2029195.0  195.0  203.0  0.06 %
Unique Home Solutions Inc. and Unique Home Solutions of Ohio(#,^)5550 Progress Rd, Indianapolis, IN 46241Construction of BuildingsTerm LoanPrime plus 2.75%1/5/2029234.9  234.9  244.6  0.08 %
Levine Daycare Inc dba Kids R Kids(#,^)415 Woodbury Rd, Orlando, FL 32828Social AssistanceTerm LoanPrime plus 2.75%1/5/2029253.7  253.7  233.7  0.07 %
Consulting Solutions, Inc and Mark Luciani(#,^)3000 N Federal Hwy Ste 1, Fort Lauderdale, FL 33306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/5/202954.4  54.4  47.2  0.01 %
Little West LLC, 340 Group LLC, Retail West LLc, Andrew W Walker, Cass(#,^)342 South La Brea Ave, Los Angeles, CA 90036Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/5/202982.4  82.4  72.4  0.02 %
The Altitude Group LLC(#,^)949 A Clint Moore Rd, Boca Raton, FL 33487Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/4/2029130.9  130.9  114.3  0.04 %
Access Staffing, LLC(#,^)360 Lexington Ave 8th Fl, New York, NY 10017Administrative and Support ServicesTerm LoanPrime plus 2.75%1/4/2029182.5  182.5  158.4  0.05 %
Jay Carlton's, LLC dba Jay Birds Rotisserie & Grill(#,^)24480 W 10 Mile RD, Southfield, MI 48033Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/4/202937.2  37.2  34.8  0.01 %
Swantown Inn and Spa, LLC(#,^)1431 11th Ave SE, Olympia, WA 98501AccommodationTerm LoanPrime plus 2.75%1/3/202912.7  12.7  13.2  — %
199
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
York Concrete Corp(#,^)1 Plumb CT., Huntington Station, NY 11746Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/3/2043197.9  197.9  217.9  0.07 %
Hernando Beach Motel LLC,The Purple Cow House o APancake AInc.(#,^)4291 Shoal Line Boulevard, Hernando Beach, FL 34607AccommodationTerm LoanPrime plus 2.75%11/30/2043222.4  222.4  247.8  0.08 %
Tammy's Place LLC(#,^)235 North Mosby Ave, Littleton, NC 27850Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/2044436.0  436.0  481.7  0.15 %
Microplex Co, Third Market LLC(#,^)244 Spokane Ave, Whitefish, MT 59937Food and Beverage StoresTerm LoanPrime plus 2.75%12/30/2028154.1  154.1  133.7  0.04 %
Luxury Furniture, Inc.dba Venicasa & Luxe Home Interiors(#,^)13762 W State Rd 84, Davie, FL 33325Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/30/2028116.8  116.8  115.4  0.04 %
Cabrera's Auto Services LLC(#,^)2206 N Central Ave, Chicago, IL 60639Repair and MaintenanceTerm LoanPrime plus 2.75%11/30/204380.2  80.2  85.3  0.03 %
Water Station Holdings LLC(#,^)1104 N Keystone Ave, Indianapolis, IN 46201Nonstore RetailersTerm LoanPrime plus 2.75%12/30/2028647.3  647.3  613.3  0.19 %
Albert M. Quashie, DDS, PC(#,^)3331 Toledo Terrace Ste 308, Hyattsville, MD 20782Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/29/204364.4  64.4  67.1  0.02 %
JJB Production LLC(#,^)458 N 7th St., Newark, NJ 07107Administrative and Support ServicesTerm LoanPrime plus 2.75%12/29/20286.9  6.9  6.0  — %
Albert M Quashie, DDS, PC(#,^)3331 Toledo Terrace Ste 308, Hyattsville, MD 20782Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/29/202881.8  81.8  77.7  0.02 %
Sky Wonder Pyrotechnics, LLC dba Sky Wonder Fire and Safety Gear Up Te(#,^)3626 CR 203, Liverpool, TX 77577Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/28/2043429.3  429.3  478.2  0.15 %
Level Up Gaming, Inc(#,^)1132 Creighton Rd, Pensacola, FL 32504Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%11/28/204389.0  89.0  90.5  0.03 %
Extreme Granite Corp(#,^)251 NW 1st St., Deerfield Beach, FL 33441Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/28/2043185.4  185.4  202.6  0.06 %
True Love Christian Academy LLC(#,^)466 E Raines Rd, Memphis, TN 38109Social AssistanceTerm LoanPrime plus 2.75%12/28/204341.5  41.5  45.5  0.01 %
BEK Holdings LLC, Veseli Fine Art Galleries, LLC, Trusted.com LLC, Exe(#,^)12930 Worldgate Drive, Herndon, VA 20170Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/21/20281,188.9  1,188.9  1,221.9  0.38 %
Best Global Alternative North, LLC(#,^)69 Lewis Ave, Atlantic Beach, NY 11509Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/21/202881.7  81.7  70.8  0.02 %
M.A.W. Enterprises LLC dbaY-Not Pizza(#,^)45 E Main St., New Palestine, IN 46163Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/21/202821.0  21.0  19.4  0.01 %
Thames Aquatic Club, LLC(#,^)14 Iron St., Ledyard, CT 06339Educational ServicesTerm LoanPrime plus 2.75%10/21/202942.8  42.8  44.8  0.01 %
On Call Electrical of Georgia LLC(#,^)2120 Plaster Bridge Rd NE, Atlanta, GA 30324Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/20/2043656.9  656.9  682.6  0.21 %
200
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Commonwealth Warehouse Inc(#,^)11013 Kenwood Rd., Cincinnati, OH 45242Warehousing and StorageTerm LoanPrime plus 2.75%12/20/2028395.5  395.5  371.0  0.12 %
High Desert Transport, Inc.(#,^)2015 Woodspring Terrace, Henderson, NV 89012Truck TransportationTerm LoanPrime plus 2.75%12/19/202871.0  71.0  64.0  0.02 %
K & A Automotive Inc(#,^)2070 Nooseneck Hill Rd, Coventry, RI 02816Gasoline StationsTerm LoanPrime plus 2.75%11/19/2043120.8  120.8  131.2  0.04 %
Beau & HB Inc dba Beau's Billiard, Bowling & Arcade(#,^)100 Village Rd, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/16/202941.1  41.1  40.7  0.01 %
Cocomo Joe's LLC(#,^)3949 New Rd, Youngstown, OH 44515Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/20280.6  0.6  0.5  — %
Saunders Management LLC dba Northern Light Espresso Bar and Cafe(#,^)536 Spruce St, Scranton, PA 18503Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/16/202837.9  37.9  39.4  0.01 %
Beau & HB Inc dba Beau's Billard, Bowling & Arcade(#,^)100 Village Rd, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/16/204369.7  69.7  73.2  0.02 %
Cali Fit Meals(#,^)3450 E Orangethrope Ave, Anaheim, CA 92806Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/202858.4  58.4  50.8  0.02 %
Allegro Assisted Living Services of Texas LLC(#,^)3400 Remington Dr, Plano, TX 75023Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%11/15/204393.9  93.9  104.6  0.03 %
Schafer Fisheries Inc.(#,^)21985 Waller Rd, Fulton, IL 61252Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%11/14/202847.0  47.0  48.8  0.02 %
Salon Femi LLC(#,^)1107 Broad St., Bloomfield, NJ 07003Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/9/20287.0  7.0  6.7  — %
US Dedicated LLC(#,^)13410 SE 26th Circle, Vancouver, WA 98683Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/2028392.2  392.2  346.7  0.11 %
Jinwoo Sushi Inc(#,^)6590 Sugarloaf Pkwy, Duluth, GA 30097Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/9/202820.7  20.7  21.5  0.01 %
McNeill Stokes(#,^)5372 Whitehall Pl SE, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/8/20286.3  6.3  5.5  — %
Vancole Investments, Inc. dba Smoothie King #913(#,^)876 Virginia Ave, Hapeville, GA 30354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/7/2044414.5  414.5  427.7  0.13 %
JN Thompson Ent,Inc.(#,^)400 5th Ave S Ste 100, Naples, FL 34102Construction of BuildingsTerm LoanPrime plus 2.75%12/7/2028377.5  377.5  340.1  0.11 %
JP Dhillon's Foods LLC(#,^)840 El Paseo de Saratoga, San Jose, CA 95130Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/1/202991.9  91.9  79.9  0.02 %
Modutech Marine Inc(#,^)2218 Marine View Drive, Tacoma, WA 98422Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%12/1/2028350.4  350.4  364.3  0.11 %
Peter Thomas Roth Labs LLC and June Jacobs Labs, LLC(#,^)460 Park Ave, Fl 16, New York, NY 10022Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/1/2028303.5  303.5  262.9  0.08 %
Steele Security, LLC dba Signal 88 Security of San Antonio(#,^)11230 West Ave Ste 2210, San Antonio, TX 78213Administrative and Support ServicesTerm LoanPrime plus 2.75%10/31/2028103.2  103.2  90.7  0.03 %
201
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Abington Caregivers, LLC(#,^)7804 Montgomery Ave Unit 3-6, Elkins Park, PA 19027Social AssistanceTerm LoanPrime plus 2.75%11/30/2043123.9  123.9  132.1  0.04 %
Organic Juice Bar Wexford LLC dba The OJB "The Organic Juice Bar"(#,^)1500 Village Run Rd, Wexford, PA 15090Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/202976.4  76.4  67.8  0.02 %
C.A.T.I. Armor, LLC(#,^)435 Packard Hwy, Charlotte, MI 48813Apparel ManufacturingTerm LoanPrime plus 2.75%10/30/2043207.9  207.9  216.7  0.07 %
UK, LLC dba Pita Pit(#,^)20038 West Valley HWY, Kent, WA 98032Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/202957.9  57.9  51.9  0.02 %
JAL Group, Inc. dba Brainy Boulevard Daycare(#,^)3340-3342 West Bryn Mawr Ave, Chicago, IL 60659Social AssistanceTerm LoanPrime plus 2.75%10/29/202853.9  53.9  47.4  0.01 %
Ohio Gold & Pawn LLC, Our New Building LLC and Corey Fischer(#,^)3970 Everhard Rd NW, Canton, OH 44709Miscellaneous Store RetailersTerm LoanPrime plus 2.75%10/26/2028136.9  136.9  142.4  0.04 %
Reliant Trucking Inc.(#,^)7197 Koamano St, Honolulu, HI 96825Truck TransportationTerm LoanPrime plus 2.75%10/25/2028123.4  123.4  114.0  0.04 %
The Face Place, LLC dba Classic Aesthetics(#,^)4268 Cahaba Heights CT Ste 115, Vestavia, AL 35243Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/25/20289.3  9.3  8.1  — %
Bellas Sports Pub, Inc dba Brewmasters Tavern(#,^)1152 Main St., Coventry, RI 02816Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/24/204368.5  68.5  75.6  0.02 %
Shovels and Whiskey LLC(#,^)446 SE Washington St, Hillsboro, OR 97123Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%10/16/204375.6  75.6  82.0  0.03 %
Hackstaff Restaurants LLC(#,^)248 W 1st St. Ste 201, Reno, NV 89501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/2029147.6  147.6  131.1  0.04 %
TA Coleman, LLC dba Tom's Truck Shop(#,^)2101 Route 610, Woodbine, NJ 08270Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/12/20285.4  5.4  5.1  — %
Cater To You Agency, LLC, dba Cater To You(#,^)1319 Sherrick Rd SE, Canton, OH 44707Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/11/204322.3  22.3  23.2  0.01 %
Faydon, Inc(#,^)1905 W Baker St., Ste A, Plant City, FL 33567Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%10/10/202869.6  69.6  72.0  0.02 %
MB Click It Photography, LLC(#,^)100 Manchester Ranch Place, Aynor, SC 29511Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/10/204337.9  37.9  40.7  0.01 %
Wellfleet Consulting Inc.(#,^)2275 Research Blvd Ste 500, Rockville, MD 20850Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/9/202813.9  13.9  12.1  — %
Apps Inc and Market Share Inc.(#,^)80 Main St., Old Saybrook, CT 06475TelecommunicationsTerm LoanPrime plus 2.75%10/5/202888.2  88.2  76.4  0.02 %
Moore Care LLC(#,^)8550 United Plaza Blvd., Baton Rouge, LA 79809Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/4/202848.3  48.3  41.8  0.01 %
JAM Media Solutions LLC(#,^)11 Netherwood Terrace, East Orange, NJ 07017Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/28/2028811.9  811.9  728.8  0.23 %
SwabCo Inc.(#,^)2341 East Ellis St., Leveland, TX 79336Support Activities for MiningTerm LoanPrime plus 2.75%9/28/2043928.1  928.1  977.9  0.30 %
Rami Technology USA, LLC(#,^)10400 NW 33rd St., Miami, FL 33172Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%9/28/2028165.9  165.9  145.4  0.05 %
202
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Mellow Sweets, Inc dba Jaafer Sweets & Marwan Hamdan(#,^)4825 North Kedzie Ave, Chicago, IL 60625Food ManufacturingTerm LoanPrime plus 2.75%9/28/202853.0  53.0  46.3  0.01 %
Burd Brothers Inc.(#,^)4005 Borman Drive, Batavia, OH 45103Truck TransportationTerm LoanPrime plus 2.75%9/28/2028494.2  494.2  471.5  0.15 %
A-1 Van Sevices, Inc.(#,^)154 Sandy Creek Rd, Verona, PA 15147Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/28/202897.7  97.7  95.3  0.03 %
Throop Family Holdings, Inc(#,^)7130 Crater Lake, White City, OR 97603Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/28/2043635.0  635.0  661.2  0.21 %
La Venezia Corporation dba La Venezia Ballroom & Robertos Lounge(#,^)4646 SE 11th Place, Cape Coral, FL 33904Food and Beverage StoresTerm LoanPrime plus 2.75%9/28/2043325.9  325.9  348.9  0.11 %
LG Law Center, Inc(#,^)15452 Amar Rd, La Puente, CA 91744Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/202813.8  13.8  12.4  — %
Blackwater Diving, LLC(#,^)112 Forrest Rd, Morgan City, LA 70380Support Activities for MiningTerm LoanPrime plus 2.75%9/27/2028735.8  735.8  656.9  0.20 %
Quality Electric & Data(#,^)85 Franklin Rd Unit 9B, Dover, NJ 07801Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/202893.5  93.5  89.3  0.03 %
Blue Seven, LLC(#,^)11111 San Jose Blvd, Ste 70, Jacksonville, FL 32223Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/27/202955.5  55.5  50.4  0.02 %
Action Barricade Company, LLC and Barricade Holding LLC(#,^)1802 N 27th Ave, Phoenix, AZ 85009Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/27/2028286.5  286.5  274.7  0.09 %
Quality Electric & Data Inc.(#,^)85 Franklin RD Unit 9B, Dover, NJ 07801Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/27/2043128.4  128.4  131.7  0.04 %
Catherine Brandon, PSY.D., Inc dba Kenneth A Deluca, PH.D., & Associat(#,^)35888 Center Ridge Rd #5-6, North Ridgeville, OH 44039Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/27/2028109.2  109.2  95.1  0.03 %
TFR Transit Inc, The Free Ride Inc, South Florida Free Ride Inc.,Tag-A(#,^)777 S Flagler Dr. Ste 800W, West Palm Beach, FL 33401Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/27/2028115.0  115.0  107.7  0.03 %
Dentistry By Design, P.C(#,^)315 Walt Whitman Rd, #204/5, South Huntington, NY 11746Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/26/202813.8  13.8  12.3  — %
US Shipping Trans Inc, Esteem Trucking Inc(#,^)16102 Sweetwater Court, Lathrop, CA 95330Truck TransportationTerm LoanPrime plus 2.75%9/26/2028777.1  777.1  760.7  0.24 %
Above and Beyond Preschool LLC(#,^)672-678 Camellia Drive, Royal Palm Beach, FL 33411Social AssistanceTerm LoanPrime plus 2.75%9/26/2043544.7  544.7  587.1  0.18 %
LTS School, Inc.(#,^)3731 NW 9th Ave, Deerfield Beach, FL 33064Educational ServicesTerm LoanPrime plus 2.75%9/26/204399.6  99.6  111.0  0.03 %
Anglin Cultured Stone Products LLC dba Anglin Construction(#,^)877 Salem Church Rd, Newark, DE 19702Construction of BuildingsTerm Loan8.25%9/26/202895.5  95.5  81.1  0.03 %
203
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Ace Auto Recovery, Inc.(#,^)1209 North Lane Ave, Jacksonville, FL 32254Administrative and Support ServicesTerm LoanPrime plus 2.75%9/26/2043157.7  157.7  168.5  0.05 %
Bhatti LLC, Bhatti 3 LLC, dba Auntie Annes(#,^)7219 Silver Mist Ave, North Chesterfield, VA 23237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/25/2028115.3  115.3  103.9  0.03 %
Newsome Mobile Notary LLC(#,^)8153 12th Ave SW, Seattle, WA 98106Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/25/20284.8  4.8  4.2  — %
Steadfast Support Services, LLC(#,^)1432 Crooked Stick Drive, O'Fallon, MO 63366Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%9/25/20289.7  9.7  8.4  — %
Phillip Ramos Upholstery Inc.(#,^)3835 Elm St., Denver, CO 80207Repair and MaintenanceTerm LoanPrime plus 2.75%9/24/202814.2  14.2  12.3  — %
DC Lofty, LLC,(#,^)301 I St. NW, Washington, DC 20001AccommodationTerm LoanPrime plus 2.75%9/21/202820.7  20.7  18.1  0.01 %
Southern Services and Equipment, Inc(#,^)321 Bayou Rd, Saint Bernard, LA 70085Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/2028402.2  402.2  381.0  0.12 %
Southern Services and Equipment, Inc.(#,^)321 Bayou Rd, Saint Bernard, LA 70085Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/2043207.9  207.9  211.6  0.07 %
MillClem Corporation & Monticello Corporation(#,^)16660 Oak St., Dillwyn, VA 22936Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%9/21/2043326.0  326.0  362.8  0.11 %
The Garden Club, LLC(#,^)125 South DuBuque St., Iowa City, IA 52240Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/21/20286.2  6.2  5.4  — %
D & D Optics Inc dba Sterling Optical(#,^)1487 East LaSalle Drive, Bismark, ND 58503Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/202849.7  49.7  43.9  0.01 %
Tables and Bars Services, Inc and Tables and Bars Rentals, LLC(#,^)5051 Peachtree Corners Cir #200, Norcross, GA 30092Administrative and Support ServicesTerm LoanPrime plus 2.75%9/20/202816.6  16.6  15.4  — %
Sommer Auto Sales, Inc(#,^)8670 E. Main St., Reynoldsburg, OH 43068Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%9/20/2028329.4  329.4  341.5  0.11 %
Super Station Inc(#,^)8855 N Country Rd 25A, Pique, OH 45356Gasoline StationsTerm LoanPrime plus 2.75%9/19/2043207.4  207.4  230.8  0.07 %
Dash Point Distributing LLC, Dash Point Logistics LLC and Sara Consal(#,^)35000 Pacific Hwy, Federal Way, WA 98003Truck TransportationTerm LoanPrime plus 2.75%9/19/2028432.2  432.2  374.0  0.12 %
Watearth Inc(#,^)445 S Figuerora Ste 3128, Los Angeles, CA 90071Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/19/202820.7  20.7  17.9  0.01 %
Lewis River Golf Course, Inc.(#,^)3209 Lewis River Rd, Woodland, WA 98674Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/19/2043491.9  491.9  547.5  0.17 %
C3 Capital, Inc(#,^)10010 N. Hampton Cove Lane, Indianapolis, IN 46236Nonstore RetailersTerm LoanPrime plus 2.75%9/19/2028621.2  621.2  598.5  0.19 %
M&P RV LLC dba M&P RV(#,^)10 Century Lane, Dillsburg, PA 17019Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%9/19/2043110.7  110.7  122.3  0.04 %
DB Talak LLC(#,^)2018 SE 6th Ave, Portland, OR 97214Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/18/2043149.5  149.5  157.4  0.05 %
E & G Enterprises LLC dba Comfort Keepers(#,^)220 Middle St., Franklin, VA 23851Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/18/20285.5  5.5  4.8  — %
204
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Glendale Grill Inc, Roddy Cameron, Jr & John K Symasko(#,^)65 Glendale St., Easthampton, MA 01027Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/2043172.2  172.2  182.3  0.06 %
Pastel de Feira LLC dba Original Pastel De Feira(#,^)4244 Pine Ridge CT, Weston, FL 33331Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/17/20285.6  5.6  5.2  — %
Culmination Motorsports, Inc.(#,^)160 W 91st Ave Unit B, Anchorage, AK 99515Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/2043550.5  550.5  608.3  0.19 %
Baby's on Broadway LLC(#,^)47 E Broadway, Little Falls, MN 56345Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%9/14/202846.0  46.0  43.0  0.01 %
L&M Equipment, Inc(#,^)Mile 2.5 Alaska Peninsula Hwy, Naknek, AK 99633Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/14/20431,229.8  1,229.8  1,314.4  0.41 %
Innovim LLC(#,^)6401 Golden Triangle Dr. #200, Greenbelt, MD 20770Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/14/2028115.0  115.0  99.4  0.03 %
J & C Garcia LLC(#,^)26 Broad St., Alexander City, AL 35010Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/14/202868.1  68.1  60.4  0.02 %
QBS, LLC dba Sterling Optical Exton(#,^)211 W Lincoln Hwy, Exton, PA 19341Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/14/202874.7  74.7  65.3  0.02 %
Rihahn Inc. dba RDBL, Inc(#,^)1397 McGuire Rd, Lamar, AR 72846Forestry and LoggingTerm LoanPrime plus 2.75%9/14/2028126.2  126.2  117.5  0.04 %
Underground Productions LLC dba 31 Escape(#,^)1731 Decatur Hwy, Fultandale, AL 35068Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/13/204397.2  97.2  108.2  0.03 %
Brewster Marketplace Pharmacy & Hardware, LLC(#,^)811 Old Hwy 97, Brewster, WA 98812Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%9/13/202880.5  80.5  69.6  0.02 %
Innovative Network Solutions Inc(#,^)31567 West 10 Mile Rd, Farmington Hills, MI 48336Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/13/2028113.9  113.9  101.9  0.03 %
TPE Midstream LLC, Dasahm Company, S & S Ventures LLC and TPE Supply L(#,^)7799 South Regency Drive, Tulsa, OK 74131Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/13/2028243.8  243.8  228.9  0.07 %
Rancho Paving, Inc(#,^)339 Cypress Lane, El Cajon, CA 92020Repair and MaintenanceTerm LoanPrime plus 2.75%9/10/2028172.5  172.5  170.4  0.05 %
Pool Guard of LA(#,^)10866 Washington Blvd, Apt. #24, Culver City, CA 90232Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/7/202820.7  20.7  18.0  0.01 %
Dr. G's Urgent Care LLC(#,^)1425 S Congress Ave, Delray Beach, FL 33445Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/7/202820.7  20.7  18.0  0.01 %
Pelican Executives Suites, LLC(#,^)2200 Colorado Ave Ste 131, Santa Monica, CA 90404Administrative and Support ServicesTerm LoanPrime plus 2.75%9/7/2028285.7  285.7  247.0  0.08 %
NY Tent, LLC dba Tent Company of New York LLC, NY Tent Parent LLC, Dav(#,^)140141 Lakeland Ave, Bohemia, NY 11716Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/7/2028296.7  296.7  281.1  0.09 %
MurlinComputerCompany LLC dba Murlin Computer,(#,^)3000 Erika Ave, Sedalia, MO 65301Repair and MaintenanceTerm LoanPrime plus 2.75%9/7/202814.3  14.3  12.8  — %
205
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Asheville Spine and Nerve Institute PC(#,^)190 Broadway St., Ste 205, Asheville, NC 28801Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/7/204389.6  89.6  98.7  0.03 %
Trolley Express Philly, Inc dba Shuttlebee &Honeybee Transportation LL(#,^)3401 Market St. Ste 200, Philadelphia, PA 19104Support Activities for TransportationTerm LoanPrime plus 2.75%9/6/202811.7  11.7  10.7  — %
LACCRB LLC dba PostNet(#,^)3250 Retail Dr Ste 120, Carson City, NV 89706Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/30/202814.0  14.0  12.3  — %
Living Centers Inc. dba Veranda House Senior Living(#,^)5129 E 5th St, Katy, TX 77493Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%8/31/2043414.4  414.4  461.2  0.14 %
National Stone LTD and NSI Group Inc(#)804-810 W Shady Grove Rd, Grand Prairie, TX 75050Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%8/31/2044270.0  270.0  301.7  0.09 %
XL Soccer World Orlando. LLC, XL Soccer World Saco LLC, XL Sports Worl(#,^)825 Courtland St., Orlando, FL 32804Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/30/2043442.1  442.1  492.1  0.15 %
Stat Constructor L.P(#,^)9573 US Hwy 220, Stoneville, NC 27048Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/30/202895.2  95.2  98.8  0.03 %
Extreme Engineering, Inc.(#,^)598 Oliver Dr, Troy, MI 48084Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/29/2028114.7  114.7  100.2  0.03 %
Kotyark LLC dba Gibsonton Motel(#,^)11545 US Hwy 41S, Gibsonton, FL 33534AccommodationTerm LoanPrime plus 2.75%8/29/204381.1  81.1  90.2  0.03 %
ARVAmethod LLC(#,^)516 N Ogden Ave #150, Chicago, IL 60642Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/29/20282.2  2.2  1.9  — %
Greenfield Hill Wines & Spirits, LLC(#,^)65 Hillside Rd, Fairfield, CT 06824Food and Beverage StoresTerm LoanPrime plus 2.75%8/29/202884.1  84.1  73.6  0.02 %
Graphish Studio, Inc.(#,^)231 Main St., Stamford, CT 06901Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/28/20286.9  6.9  5.9  — %
JFK Transportation Inc(#,^)4 Mechanic St, Natick, MA 01760Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%8/28/2028147.9  147.9  130.7  0.04 %
Atlas Geo-Constructors LLC(#,^)3466 Thomasville Rd, Winston-Salem, NC 27107Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/24/202868.5  68.5  68.2  0.02 %
Montana Life Group, LLC(#,^)8 N 9th Ave, Bozeman, MT 59715Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/24/20286.9  6.9  5.9  — %
Finn & Emma LLC(#,^)1275 Bloomfield Ave Bldg 5 Unit 28B, Fairfield, NJ 07004Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%8/24/2028113.4  113.4  98.1  0.03 %
Wearware Inc dba FlyWire Cameras(#,^)2204 Blackmoor Park Lane, Lexington, KY 40509Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%8/24/202820.6  20.6  18.2  0.01 %
Evans and Paul LLC, Evans & Paul Unlimited Corp(#,^)140 Dupont St., Plainview, NY 11803Miscellaneous ManufacturingTerm LoanPrime plus 2.75%8/24/202879.9  79.9  71.5  0.02 %
Zash LLC dba Papa Murphy's take 'N' Bake Pizza(#,^)2303 White Bear Ave, Maplewood, MN 55025Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/23/202838.6  38.6  35.6  0.01 %
206
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Buffalo Biodiesel Inc.(#,^)225 Sawyer Ave, Tonawanda, NY 14150Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%8/21/20281,134.1  1,134.1  1,125.0  0.35 %
Ginekis Enterprises, Inc dba Locanda Veneta(#,^)8638 W Third St., Los Angeles, CA 90048Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/20/202878.5  78.5  68.3  0.02 %
Wilkie J. Stadeker DDS(#,^)123 Marble Mill Rd, Ste B, Marietta, GA 30060Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/17/202838.8  38.8  33.6  0.01 %
Geo Tek Alaska, Inc(#,^)2756 Commercial Drive, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/17/2044125.9  125.9  133.8  0.04 %
ATI Jet, Inc.(#,^)7007 Boeing Drive, El Paso, TX 79925Air TransportationTerm LoanPrime plus 2.75%8/16/2028196.7  196.7  187.6  0.06 %
Lewins Law, P.C.(#,^)7920 Belt Line Rd Ste 650, Dallas, TX 75254Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/16/202816.4  16.4  14.2  — %
GS Bath Inc(#,^)5335 E Kaviland Ave, Fresno, CA 93725Truck TransportationTerm LoanPrime plus 2.75%8/15/2028525.3  525.3  520.5  0.16 %
Pamletics LLC dba F45(#,^)22015 IH 10 West, San Antonio, TX 78257Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/14/202840.1  40.1  36.7  0.01 %
L.A. Insurance Agency GA 10 LLC(#,^)6655 Tara Blvd Ste 401, Jonesboro, GA 30236Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/10/202810.3  10.3  8.9  — %
David D. Sullivan dba DMS Construction(#,^)6400 Charwood Place, Bakersfield, CA 93306Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/9/202812.3  12.3  10.7  — %
Crystal Shores Inc. dba Shorewood Laundromat(#,^)700 West Jefferson St., Shorewood, IL 60404Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/9/202820.4  20.4  18.5  0.01 %
Palanuk & Associates, Inc.dba Wolfpk(#,^)28110 SE Fern Drive, Boring, OR 97009Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/8/202893.8  93.8  81.9  0.03 %
Mercedes Cab Company, Inc(#,^)35 Alden St., Providence Town, MA 02657Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%8/7/2028118.8  118.8  106.6  0.03 %
CJNR, LLC(#,^)208 East Main St., Elma, WA 98541AccommodationTerm LoanPrime plus 2.75%8/7/2043119.6  119.6  133.2  0.04 %
Ron's Pool and Spa Services LLC(#,^)1419 NE 30th St., Pompano, FL 33064Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/3/20283.4  3.4  3.0  — %
20th Century Lanes, Inc dba West Seattle Bowl(#,^)4505 39 Ave SW, Seattle, WA 98116Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/3/2028102.8  102.8  100.6  0.03 %
Alma Jacobsen,ODD Family Eye Care & Contact Lens LLC(#,^)1700 Nottingham Way Ste 12A, Hamilton, NJ 08619Health and Personal Care StoresTerm LoanPrime plus 2.75%8/3/202855.1  55.1  48.5  0.02 %
Millwork Unlimited, Incorporated(#,^)8264 Pine Cay Rd, Wellington, FL 33414Wholesale Electronic Markets and Agents and BrokersTerm LoanPrime plus 2.75%8/2/20286.9  6.9  5.9  — %
Accel Compression Inc., Accel Workover Services, Inc(#,^)4500 S Country Rd, Odessa, TX 79765Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/1/2043305.8  305.8  316.8  0.10 %
Samy Optical LLC dba Site for Sore Eyes(#,^)1350 Travis Blvd Ste 1507A, Fairfield, CA 94533Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/1/2028101.7  101.7  88.0  0.03 %
207
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Accel Compression Inc., Accel Workover Services Inc. dba Mica Tool & T(#,^)4500 S. Country Rd 1310, Odessa, TX 79765Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/1/2028422.7  422.7  409.5  0.13 %
CSL Services Inc(#,^)7905 Browning Rd, Ste.312,314,316, Pennsauken, NJ 08109Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/27/2028496.8  496.8  460.0  0.14 %
Nunez Enterprises Corporation dba La Casa(#,^)3330 Piedmont RD NE, Atlanta, GA 30305Miscellaneous Store RetailersTerm LoanPrime plus 2.75%7/26/20287.5  7.5  6.5  — %
Sandlot Sports Inc dba Play it Again Sports(#,^)814 N Main St., Leominster, MA 01453Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%7/26/202817.0  17.0  14.7  — %
Summitsoft Corporation(#,^)11105 Mockingbird Drive, Omaha, NE 68137Publishing Industries (except Internet)Term LoanPrime plus 2.75%7/26/2028117.4  117.4  102.0  0.03 %
Relevant Elephant ,LLC(#,^)ON320 Woodvale St, Winfield, IL 60190Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/25/20288.2  8.2  7.1  — %
Fitness Central, Inc dba Fitness Central(#,^)4335 PA Route 309, Schnecksville, PA 18078Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%7/25/202856.7  56.7  50.3  0.02 %
HAVL Enterprises Inc dba FedEx(#,^)1447 Lake George Drive, Lake Mary, FL 32746Couriers and MessengersTerm LoanPrime plus 2.75%7/24/202817.8  17.8  18.5  0.01 %
Top Shelf Towing and Road Service, LLC(#,^)25 Sycamore St., Carnegie, PA 15106Support Activities for TransportationTerm LoanPrime plus 2.75%7/24/202811.9  11.9  10.4  — %
TR Nails, LLC dba Simple Nails(#,^)158 Great Rd, Bedford, MA 01730Personal and Laundry ServicesTerm LoanPrime plus 2.75%7/20/202856.6  56.6  49.0  0.02 %
ZA Trucking LLC(#,^)5945 York Way, East Lansing, MI 48823Truck TransportationTerm LoanPrime plus 2.75%7/17/20289.3  9.3  8.8  — %
674 Club LLC(#,^)674 N Orleans, Chicago, IL 60654Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/2043256.9  256.9  285.9  0.09 %
Mother's Cantina LLC dba Mother's Cantina(#,^)2810 Philadephia Ave Unit #10, Ocean City, MD 21842Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/13/202862.4  62.4  55.1  0.02 %
Smart-tel Communications LLC(#,^)9720 W. Colfax Ave Ste 100, Lakewood, CO 80215Administrative and Support ServicesTerm LoanPrime plus 2.75%7/13/202820.4  20.4  21.2  0.01 %
HQTRONICS LLC(#,^)10135 S Roberts Rd Ste 209, Palos Hills, IL 60465Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%7/13/202856.7  56.7  49.0  0.02 %
Smoove Move Productions, LLC dba Smoove Move Productions(#,^)3932 North 16th St., Omaha, NE 68110Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%7/12/20289.6  9.6  9.9  — %
Talent Logistix, LLC, Pinpoint Staffing LLC & ITC 2.0 LLC(#,^)6350 Shadeland Ave, Indianpolis, IN 46220Administrative and Support ServicesTerm LoanPrime plus 2.75%7/3/202856.7  56.7  51.0  0.02 %
Vital Inspection Professionals, Inc. dba VIP(#,^)180 Airpark Industrial Rd, Alabaster, AL 35007Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/3/2028282.4  282.4  272.0  0.08 %
Deal to Win Inc(#,^)575 Underhill Blvd Ste 216, Syosset, NY 11791Nonstore RetailersTerm LoanPrime plus 2.75%7/3/2028113.4  113.4  98.1  0.03 %
208
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
US Cargo Express, LLC(#,^)4735 22 Mile Rd, Utica, MI 48317Support Activities for TransportationTerm LoanPrime plus 2.75%7/2/204386.9  86.9  96.8  0.03 %
M J Losito Electrical Contractor's, Inc(#,^)98 Wooster St., Bethel, CT 06801Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/202846.7  46.7  43.6  0.01 %
Bio-Haz Solutions, Inc(#,^)23 Tonolli Rd, Nesquehoning, PA 18240Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/29/2029236.8  236.8  239.9  0.07 %
Bio-Haz Solutions, Inc.(#,^)23 Tonoli Rd, Nesquehoning, PA 18240Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/29/2044365.2  365.2  382.2  0.12 %
Critter Cabana, LLC dba Critter Cabana(#,^)516 East Main St., Newberg, OR 97132Miscellaneous Store RetailersTerm LoanPrime plus 2.75%6/28/202875.5  75.5  69.2  0.02 %
Corptek Solutions LLC(#,^)2363 N Hwy 287 Ste 111, Mansfield, TX 76063Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/28/202842.8  42.8  39.2  0.01 %
Julie Cooper-Bierman dba Forever Shopper(#,^)7435 Piute Creek Dr, Corona, CA 92881Nonstore RetailersTerm LoanPrime plus 2.75%6/27/202814.5  14.5  13.2  — %
National Dredging Services of North Florida, Inc.(#,^)1537 Northwest Main Blvd., Lake City, FL 32055Repair and MaintenanceTerm LoanPrime plus 2.75%6/27/202848.2  48.2  50.5  0.02 %
Darnoc Enterprises Inc, Setira Paul Inc dba Conrad's Famous Bakery, In(#,^)299 Utica Ave, Brooklyn, NY 11203Food ManufacturingTerm LoanPrime plus 2.75%6/27/2043347.4  347.4  385.0  0.12 %
InUSA Ventures, Inc(#,^)508 Hyacinthus Court, San Ramon, CA 94582Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%6/27/202845.1  45.1  41.2  0.01 %
National Dredging Services of North Florida, Inc.(#,^)1537 Northwest Main Blvd., Lake City, FL 32055Repair and MaintenanceTerm LoanPrime plus 2.75%6/27/204328.3  28.3  32.1  0.01 %
RLW4 Builders LLC(#,^)152 Tuckahoe Lane, Southhampton, NY 11968Construction of BuildingsTerm LoanPrime plus 2.75%6/27/2043980.0  980.0  1,112.0  0.35 %
Nick's Country Kitchen, LLC(#,^)3 Flanders RD, Building #1, Bethlehem, CT 06751Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/27/202820.3  20.3  18.8  0.01 %
Bengals, Inc. dba Royal Liquor Mart(#,^)3714 E State St., Rockford, IL 61108Food and Beverage StoresTerm LoanPrime plus 2.75%6/26/2043104.1  104.1  113.1  0.04 %
Peter Thomas Roth Labs LLC, & June Jacobs Labs, LLC,(#,^)460 Park Ave, Fl 16, New York, NY 10022Health and Personal Care StoresTerm LoanPrime plus 2.75%6/26/2028833.7  833.7  783.0  0.24 %
Sun Pools, Inc(#,^)130 Holiday LN, Albany, KY 42602Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%6/25/2043299.9  299.9  308.5  0.10 %
DPF Filters Inc.(#,^)2832 Golden State Blvd., Madera, CA 93637Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/25/202862.0  62.0  58.0  0.02 %
Sun Pools, Inc dba Sun Fiberglass Pools(#,^)130 Holiday Lane, Albany, KY 42602Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%6/25/2028704.2  704.2  665.2  0.21 %
Mr. Lube, Inc(#,^)721 E Westpoint Drive., Wasilla, AK 99654Repair and MaintenanceTerm LoanPrime plus 2.75%6/22/2043654.6  654.6  698.2  0.22 %
Mr. Lube, Inc.(#,^)721 E. West Point Drive, Wasilla, AK 99654Repair and MaintenanceTerm LoanPrime plus 2.75%6/22/2028542.6  542.6  534.1  0.17 %
209
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
The Desert House Assisted Living ,LLC dba The Desert House Assisted Li(#,^)11055 E Grove St, Mesa, AZ 85208Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%6/22/204377.1  77.1  85.5  0.03 %
Sushi Prime, LLC and Vasilia Investments(#,^)32 SE 2nd Ave, Delray Beach, FL 33444Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/22/2028248.3  248.3  238.5  0.07 %
Judy E. Moncrief C.P.A LLC(#,^)910 Pierremont Rd, Ste311, Shreveport, LA 71106Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/22/20288.3  8.3  7.6  — %
Martha Beauty Supply And Braiding, Inc.(#,^)538 E Boughton Rd, Bolingbrook, IL 60440Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/22/2043138.8  138.8  157.3  0.05 %
Independent Life LLC(#,^)4955 S Durango Dr. #124, Las Vegas, NV 89113Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/21/2028112.9  112.9  103.4  0.03 %
York Woods Tree Service, LLC dba York Woods Tree and Products, LLC(#,^)300 Harold Dow Hwy, Elliot, ME 03903Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/21/2043238.6  238.6  257.7  0.08 %
York Woods Tree Service, LLC dba York Woods Tree and Products, LLC(#,^)300 Harold Dow Hwy, Eliot, ME 03903Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/21/2028128.4  128.4  128.2  0.04 %
Lilo Holdings LLC(#,^)933 Port Reading Ave, Port Reading, NJ 07064Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/20/202816.9  16.9  15.8  — %
Colovic Hackettstown Dairy LLC(#,^)22 Route 57, Hackettstown, NJ 07840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/2043269.9  269.9  304.6  0.09 %
Mid America Motorworks, Inc and Yager Holdings L.P(#,^)2900 North 3rd St., Effingham, IL 62401Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/19/2043494.4  494.4  560.4  0.17 %
Jones Roger Sherman Inn, Inc.(#,^)195 Oenoke Ridge, New Canaan, CT 06840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/19/2028395.7  395.7  414.3  0.13 %
Schumacker Recreation, LLC(#,^)5325 S University Drive, Davie, FL 33328Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/18/2028135.2  135.2  141.5  0.04 %
Allen Theatre and Back Stage Cafe LLC(#,^)36 East. Main St., Annville, PA 17003Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%6/18/2043123.5  123.5  137.8  0.04 %
Softrol Systems Inc dba Softrol Systems(#,^)1100 Northpoint Pkwy SE, Acworth, GA 30102Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/15/2028794.7  794.7  736.6  0.23 %
Oil Palace Inc.(#,^)10408 Hwy 64 E, Tyler, TX 75707Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/15/2043142.2  142.2  161.4  0.05 %
Venzix Ventures Inc. dba Venzix(#,^)750 Legend Oak Drive, Fountain, CO 80817Nonstore RetailersTerm LoanPrime plus 2.75%6/15/202811.9  11.9  11.9  — %
Dianne Williams and Louis Williams dba Sweetlips Store(#,^)3870 Sweet Lips Rd, Henderson, TN 38340Food and Beverage StoresTerm LoanPrime plus 2.75%6/15/204345.3  45.3  50.0  0.02 %
Northway Exit 29 Campground, Inc dba Adirondacks Jellystone Parks & Pa(#,^)4035 Blue Ridge Rd, North Hudson, NY 12855AccommodationTerm LoanPrime plus 2.75%6/15/2043211.9  211.9  240.2  0.07 %
210
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Barrett Appliance Distributors Inc. dba Barrett Appliance and Home Pr(#,^)1760 Swan Lake Rd, Bossier City, LA 71111Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/14/2043614.2  614.2  641.2  0.20 %
Barrett Appliance Distributors, Inc dba Barrett Appliance and Home Pr(#,^)1760 Swan Lake Rd, Bossier City, LA 71111Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/14/2028468.7  468.7  450.0  0.14 %
E & J Sims Co. LLC(#,^)28 Broad St., Bloomfield, NJ 07003Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/14/202845.1  45.1  42.6  0.01 %
Tele Tax Express Inc(#,^)166 Getty Ave, Paterson, NJ 07503Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/202820.3  20.3  20.4  0.01 %
Team Sandy Blanton Realty, Inc(#,^)1225 West Gregory St, Pensacola, FL 32502Real EstateTerm LoanPrime plus 2.75%6/14/204395.6  95.6  101.3  0.03 %
Mastiff Studios LLC(#,^)2919 West Colorado Ave, Colorado Springs, CO 80904Educational ServicesTerm LoanPrime plus 2.75%6/13/204341.9  41.9  47.1  0.01 %
Ciasom LLC dba Mosaic(#,^)1040-1042 Richard Ave, Santa Clara, CA 95050Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/11/2028162.2  162.2  149.3  0.05 %
Skyways LTD,Jet 60 LLC,Mendean Jonath, Inc,Jet AOG, Inc & Jonathan Men(#,^)426 15th St. NW, Huron, SD 57350Support Activities for TransportationTerm LoanPrime plus 2.75%6/8/2043370.6  370.6  396.9  0.12 %
Beyond Grooming LLC and Michelle McWatters(#,^)1200 Old Martindale Rd, San Marcos, TX 78666Miscellaneous Store RetailersTerm LoanPrime plus 2.75%6/8/204342.1  42.1  47.3  0.01 %
Camp K-9 Pet Resort & Spa, Inc.(#,^)18501 Le Claire Ave, Tinley Park, IL 60478Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/8/20287.4  7.4  6.9  — %
Icebox Cafe, L.C. and Icebox Cafe at Doral,LLC(#,^)1855 Purdy Ave, Miami Beach, FL 33139Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/8/2028713.4  713.4  664.6  0.21 %
Applied Behavioral Consulting, Inc(#,^)422 Blooming Grove Tpke, New Windsor, NY 12553Social AssistanceTerm LoanPrime plus 2.75%6/7/204349.0  49.0  54.8  0.02 %
H S Corporation dba Lake Anna Lodge(#,^)5152 Courthouse Rd, Spotsylvania, VA 22551AccommodationTerm LoanPrime plus 2.75%6/7/2043128.6  128.6  145.8  0.05 %
Anurag, LLC dba Oakwood Package Store(#,^)191-195 Oakwood Ave, West Hartford, CT 06107Food and Beverage StoresTerm LoanPrime plus 2.75%6/6/2043135.0  135.0  144.7  0.04 %
Sowells Consulting Engineers, LLC(#,^)13430 Northwest Freeway #260, Houston, TX 77040Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/6/202820.3  20.3  18.7  0.01 %
Hardway Inc and A F C Leasing, Inc(#,^)12533 S. 73rd East Place, Bixby, OK 74008Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/6/2028265.0  265.0  242.5  0.08 %
Funtime ,LLC dba Indoor Playgrounds International(#,^)13200 West Foxfire Drive Ste 144, Surprise, AZ 85378Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/5/2028225.4  225.4  206.5  0.06 %
SSD Designs LLC(#,^)10840 Bay Hill Club Drive, Charlotte, NC 28277Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/5/202866.9  66.9  61.8  0.02 %
BTD Feed & Nutrition, LLC dba Thomaston Feed Cheshire(#,^)943 South Main St., Cheshire, CT 06410Miscellaneous Store RetailersTerm LoanPrime plus 2.75%6/1/202846.3  46.3  42.4  0.01 %
211
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Mastrocinque Restaurant Management Company LLC dba Santionii's Itali(#,^)3535 Hwy 17 Unit 14-15, Fleming Island, FL 32003Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/1/202856.5  56.5  57.5  0.02 %
Awan Business Management Group LLC, Awan Sign Company lLLC &Awan Promo(#,^)14429 South Wallin Drive, Plainfield, IL 60544Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/31/2043270.8  270.8  298.3  0.09 %
Seraj Wireless, LLC(#,^)132 Madison Ave, Albany, NY 12202Electronics and Appliance StoresTerm LoanPrime plus 2.75%5/31/2028111.9  111.9  117.1  0.04 %
Brooks Seaplane Service Inc and Lunt Enterprises LLC(#,^)105 Northern Blvd, Coeur d'Alene, ID 83814Scenic and Sightseeing TransportationTerm LoanPrime plus 2.75%5/31/2028132.3  132.3  121.1  0.04 %
SSMV LLC dba Burgerim(#,^)115 Pelham Rd, Ste 1, Greenville, SC 29615Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/30/202859.6  59.6  58.7  0.02 %
Eagle Aggregate Transportation, LLC(#,^)4401 N I-35 Ste 113, Denton, TX 76207Truck TransportationTerm LoanPrime plus 2.75%5/30/202878.5  78.5  74.9  0.02 %
Crowley Ventures, LLC(#,^)665 Worthington Rd, Westerville, OH 43082Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/202866.8  66.8  62.0  0.02 %
Iloka, Inc dba New Cloud Networks(#,^)160 Inverness Drive W Ste 150, Englewood, CO 80112Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/25/2028223.7  223.7  215.7  0.07 %
Dream Spa LLC and Dream Spa Greenwich LLC(#,^)1220 Post Rd East, Westport, CT 06880Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/202889.5  89.5  82.8  0.03 %
Broadalbin Properties LLC dba Broadalbin Hotel & 1854 Pub & Eatery(#,^)59 West Main St, Broadalbin, NY 12025AccommodationTerm LoanPrime plus 2.75%10/25/2043199.4  199.4  226.5  0.07 %
Adow Pools LLC(#,^)393 Glenbrook Rd, Stamford, CT 06906Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/2028156.6  156.6  146.5  0.05 %
Ocean Breeze Holdings, LLC, Ocean Beach Resort LLC & Ocean Breeze LanC(#,^)3 Williams Ave, Mystic, CT 06355AccommodationTerm LoanPrime plus 2.75%5/25/20431,245.1  1,245.1  1,411.3  0.44 %
Starship, LLC dba Tint World Smyrna(#,^)2274 S Atlanta Rd SE, Smyrna, GA 30080Repair and MaintenanceTerm LoanPrime plus 2.75%5/25/204396.6  96.6  107.9  0.03 %
DMA Equipment LLC(#,^)700 Lee St., Elk Grove Village, IL 60007Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/24/2043255.7  255.7  275.6  0.09 %
Seaside Acupuncture LLC(#,^)1041 Johnnie Dodds Blvd #2C, Mt Pleasant, SC 29464Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/24/204348.9  48.9  53.6  0.02 %
Chem-Flotronics, Inc.(#,^)195 Paterson Ave, Little Falls, NJ 07424Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%5/22/202889.5  89.5  83.5  0.03 %
Yakov Levy M.D., P.C.(#,^)70-31 108th St., Forest Hills, NY 11375Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/18/202832.8  32.8  30.3  0.01 %
Mark A Espinoza, DDS PLLC dba Central Dental Care(#,^)9315 N Central Ave, Phoenix, AZ 85020Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/18/202854.6  54.6  49.9  0.02 %
JVLS LLC dba Vaccines 2 Go(#,^)4060 Johns Creek Parkway Ste H, Suwanee, GA 30024Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/17/20287.4  7.4  6.8  — %
212
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
On Stage Enterprises LLC, On Stage Theaters Branson, LLC, On Stage Th(#,^)4570 W Post Rd, Ste 100, Las Vegas, NV 89118Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%5/17/2028223.7  223.7  204.8  0.06 %
Clore Construction LLC(#,^)21220 FM 1420, Harlingen, TX 78550Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%5/16/2028134.1  134.1  128.8  0.04 %
Joshua One Limited Liability Company dba Genesis Personal Fitness(#,^)28 North State St. Unit 100, Newtown, PA 18940Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/16/2043314.4  314.4  336.4  0.10 %
James T. Hendel dba Autotexx Mobile Auto Repair(#,^)5857 Hwy 101 N, Rockmart, GA 30153Repair and MaintenanceTerm LoanPrime plus 2.75%5/15/20286.7  6.7  7.0  — %
Fireplace Outlet Inc(#,^)8216 Main St., Williamsville, NY 14221Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%5/15/202820.1  20.1  21.1  0.01 %
Galore Salon & Extension Lounge Inc dba Pretty Chic Hair & Lashes(#,^)5714 Edmondson Pike Ste 24, Nashville, TN 37211Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/14/20284.0  4.0  3.7  — %
Circle and Square, Inc dba Stamford Kumon(#,^)50 Forest St. Ste 902, Stamford, CT 06901Educational ServicesTerm LoanPrime plus 2.75%5/11/202838.0  38.0  34.8  0.01 %
Bote Virginia Beach, Inc. dba Bote Virginia Beach(#,^)1080 Nimmo Pkwy Ste 104, Virginia Beach, VA 23454Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%5/11/202810.1  10.1  9.3  — %
Daniel Woodward, DC PLLC dba Doc's Body Shop(#,^)3084 N Goliad St., Ste 114, Rockwall, TX 75087Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/11/202836.8  36.8  33.7  0.01 %
Adhara, LLC(#,^)18123 E Appleway Ave, Spokane Valley, WA 99016Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/11/204342.9  42.9  47.0  0.01 %
Baby Gentry's Childcare & Learning Academy(#,^)4203 Shenandoah Drive, Dayton, OH 45417Social AssistanceTerm LoanPrime plus 2.75%5/10/202810.1  10.1  9.3  — %
P & M Entertainment, LLC dba Luv 2 Play(#,^)35 Lafayette Rd, Ste 8, North Hampton, NH 03862Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/10/2028108.6  108.6  103.2  0.03 %
Buy Gitomer Inc., Gitgo LLC.,GitGo Archives, LLC, and Jeffrey Gitomer(#,^)310 Arlington Ave Unit 329, Charlotte, NC 28203Educational ServicesTerm LoanPrime plus 2.75%5/9/2043711.1  711.1  806.0  0.25 %
Whitetail Nurseries Inc(#,^)2050 S. Beltline Rd, Mesquite, TX 75181Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/9/2028239.4  239.4  236.0  0.07 %
Oculi Entertainment Inc(#,^)2000 W. Magnolia Blvd, Ste 100, Burbank, CA 91506Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%5/8/202819.9  19.9  18.3  0.01 %
Schmaltz Operations LLC dba Companion Camp(#,^)3408 Castle Rock Farm Rd, Pittsboro, NC 27312Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/7/202853.7  53.7  53.0  0.02 %
Container Shipping, LLC(#,^)533 Nova Rd Ste 213B, Ormond Beach, FL 32174Support Activities for TransportationTerm LoanPrime plus 2.75%5/4/202844.7  44.7  41.0  0.01 %
Wilbur Standford Jr Trucking and Excavating, LLC(#,^)7505 North Chases Lake Rd, Watson, NY 13343Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/3/2028214.8  214.8  215.6  0.07 %
213
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
McIntosh Trail Management Service Organization, Inc.(#,^)747 South Hill St., Griffin, GA 30223Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/1/202885.0  85.0  89.0  0.03 %
Olmsted LLC and 626 Van LLC dba Maison Yaki(#,^)659 Vanderbilt Ave, Brooklyn, NY 11238Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/1/2029220.4  220.4  207.4  0.06 %
Metropolitan Solutions Inc.(#,^)1420 Chestnut St., Portsmouth, VA 23704Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/2043173.3  173.3  178.5  0.06 %
Brenden Kehren Development LLC(#,^)14689 Gemara Rd, Sparta, WI 54656Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/20282.7  2.7  2.4  — %
Saltamontes Tire Company, LLC(#,^)1955 Boston Ave, Brodgeport, CT 06604Repair and MaintenanceTerm LoanPrime plus 2.75%4/30/2043100.2  100.2  110.1  0.03 %
Corona Dance, LLC dba Huracan Dance Studio(#,^)480 West Main St., Stamford, CT 06902Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%4/30/202810.6  10.6  9.7  — %
Sunlinc Inc(#,^)170 Canterbury Court, East Windsor, NJ 08520Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/30/20288.7  8.7  7.9  — %
Rory James Contracting LLC(#,^)33 Bennett Place, Amityville, NY 11701Construction of BuildingsTerm LoanPrime plus 2.75%4/27/202814.3  14.3  13.1  — %
Suraj Enterprises, Inc.(#,^)11720 W. Airport Rd, Meadows Place, TX 77477Food and Beverage StoresTerm LoanPrime plus 2.75%4/27/2028277.6  277.6  271.3  0.08 %
Little Angels Daycare and Learning Center LLC(#,^)4551 Summit Boulevard, West Palm Beach, FL 33415Social AssistanceTerm LoanPrime plus 2.75%4/27/2043157.1  157.1  178.0  0.06 %
Kastoria Inc. dba Bantam Pizza(#,^)768 Bantam Rd, Bantam, CT 06750Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/202813.3  13.3  12.3  — %
RWT Corporation dba Welding Works(#,^)32 New Rd, Madison, CT 06443Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/26/2028461.5  461.5  439.2  0.14 %
Pledge 4 Hope LLC(#,^)53 Bayberry Loop South, Purvis, MS 39475Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%4/26/202813.3  13.3  12.2  — %
Matrix Z, LLC(#,^)800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%4/26/202868.0  68.0  69.2  0.02 %
K&S Hardware LLC(#,^)1865 W Wayzata Blvd, Long Lake, MN 55356Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%4/26/202820.0  20.0  18.3  0.01 %
LMH Optics LLC dba Sterling Optical(#,^)1272 Smallwood Dr West, Waldorf, MD 20603Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/26/202844.4  44.4  40.7  0.01 %
RWT Corporation dba Welding Works(#,^)32 New Rd, Madison, CT 06443Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%4/26/2043207.8  207.8  215.1  0.07 %
Joe & Sons Service, Inc(#,^)855 Atwood Ave, Cranston, RI 02920Repair and MaintenanceTerm LoanPrime plus 2.75%4/24/2028100.0  100.0  104.6  0.03 %
Spitnale's Garage LLC(#,^)3761 Mahoning Ave, Youngstown, OH 44515Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/204359.0  59.0  64.3  0.02 %
Just for Boats LLC(#,^)459 Dupre Rd, McClellanville, SC 29458Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/204317.2  17.2  19.4  0.01 %
214
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Nando LLC dba Tall Timbers Banquet and Conference Center(#,^)13831 National Rd SW, Reynoldsburg, OH 43068Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/20/202818.0  18.0  16.9  0.01 %
Rosemarie Products Company LLC(#,^)5400 Crooked Tree Drive, Mason, OH 45040Health and Personal Care StoresTerm LoanPrime plus 2.75%4/18/202813.3  13.3  12.2  — %
James L Shoemaker APCC(#,^)221 W Judge Perez Drive, Chalmette, LA 70043Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/18/202814.3  14.3  13.1  — %
A New Dawn Psychotherapy Associates, LLC(#,^)308 E Broad St., Bethlehem, PA 18018Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/18/204385.5  85.5  91.3  0.03 %
Veterinary Preventive Care, LLC(#,^)945 Riverview Ct, Xenia, OH 45385Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/18/202841.5  41.5  39.3  0.01 %
Means Enterprises LLC(#,^)4150 Legacy Drive N Ste 412, Frisco, TX 75034Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%4/18/20286.7  6.7  6.2  — %
Southern HVAC LLC(#,^)119 Ouachita 212, Camden, AZ 71701Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/204322.0  22.0  23.3  0.01 %
Southern Oaks Athletic Club, LLC(#,^)15253 Shenandoah Ave, Baton Rouge, LA 70817Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/17/2043358.7  358.7  400.5  0.12 %
Southern HVAC LLC(#,^)119 Ouachita 212, Camden, AR 71701Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/202835.2  35.2  34.4  0.01 %
1301 Starks Inc.(#,^)1301 West Atkinson Ave, Milwaukee, WI 53206Food and Beverage StoresTerm LoanPrime plus 2.75%4/16/202820.0  20.0  20.7  0.01 %
Patricia A. Freeman & Samuel C. Freeman dba Teenas Pizza(#,^)35 E Main St., Pekin, IN 47165Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/13/204342.5  42.5  46.5  0.01 %
Precision Components Group Inc(#,^)190 Doty Circle, West Springfield, MA 01089Miscellaneous ManufacturingTerm LoanPrime plus 2.75%4/11/202820.0  20.0  19.7  0.01 %
Sexy Nails Center LLC(#,^)57 Passaic St., Garfield, NJ 07026Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/10/2043197.9  197.9  221.7  0.07 %
Mark Baker(#,^)1653 Evalie Dr, Fairfield, OH 45014Truck TransportationTerm LoanPrime plus 2.75%4/9/202810.7  10.7  10.1  — %
Innovation Transport LLC(#,^)1 International Blvd, Ste 400, Mahwah, NJ 07495Truck TransportationTerm LoanPrime plus 2.75%4/6/202845.5  45.5  44.9  0.01 %
Newsome Mobile Notary LLC(#,^)8153 12th Ave SW, Seattle, WA 98106Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/5/20284.7  4.7  4.3  — %
Shree Lakshminarayyn Grocery Stores LLC(#,^)3307 Charles St., Rockford, IL 61108Gasoline StationsTerm LoanPrime plus 2.75%4/5/2043117.3  117.3  129.2  0.04 %
Bean City Bar and Grill LLC(#,^)N 2505 Bean City Rd, New London, WI 54961Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/4/204380.8  80.8  90.5  0.03 %
Alaska Industrial Paint LLC(#,^)229 Whitney Rd, Unit B, Anchorage, AK 99501Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/2043217.7  217.7  239.1  0.07 %
Fifth Wheel Truck Stop 001(#,^)3767 S Golden State Blvd, Fresno, CA 93725Gasoline StationsTerm LoanPrime plus 2.75%3/30/20431,126.5  1,126.5  1,188.2  0.37 %
Alaska Industrial Paint LLC(#,^)229 Whitney Rd, Unit B, Anchorage, AK 99501Repair and MaintenanceTerm LoanPrime plus 2.75%3/30/2028110.1  110.1  112.5  0.03 %
215
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Michael S Brown Physical Therapy, P.C(#,^)300 Hempstead Tpke Ste. 3 & 4, Hempstead, NY 11552Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/30/202889.4  89.4  81.9  0.03 %
Romancing the Stone(#,^)140 Centre of New England Blvd, Coventry, RI 02816Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/30/2043340.3  340.3  369.3  0.11 %
B&C Texas Leasing Inc.,M & W Hot Oill, Inc(#,^)8124 Sprague Rd, Odessa, TX 79764Truck TransportationTerm LoanPrime plus 2.75%3/30/2043263.5  263.5  281.3  0.09 %
Master Roofing and Siding Inc.(#,^)25 Robert Pitt Dr Ste 213, Monsey, NY 10952Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/30/2028233.8  233.8  214.0  0.07 %
Boulevard Books Inc.(#,^)1195 Castleton Ave, Staten Island, NY 10310Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/30/204387.1  87.1  98.8  0.03 %
GQ Investments,LLC(#,^)5772 Miami Lakes Drive East, Miami, FL 33014Electrical Equipment, Appliance, and Component ManufacturingTerm LoanPrime plus 2.75%3/30/2028185.7  185.7  173.4  0.05 %
B&C Texas Leasing Inc and M&W Hot Oil, Inc.(#,^)8124 Sprague Rd, Odessa, TX 73764Truck TransportationTerm LoanPrime plus 2.75%3/30/2028864.6  864.6  854.1  0.27 %
Payne's Environmental Services LLC(#,^)5617 Causeway Blvd, Tampa, FL 33619Administrative and Support ServicesTerm LoanPrime plus 2.75%3/30/2028200.0  200.0  196.1  0.06 %
Technical Ordnance Solutions,LLC(#,^)9950 Business Cir. Ste 13, Naples, FL 34112Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/30/20281,138.5  1,138.5  1,049.3  0.33 %
America's Little Leaders Academy, Inc(#,^)2570 NW 152nd Terrace, Opa-Locka, FL 33054Social AssistanceTerm LoanPrime plus 2.75%3/30/204322.0  22.0  24.4  0.01 %
Kaz Wellness, LLC dba Grounded Wellness Center(#,^)104 Clover Court, Bartlett, IL 60103Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202814.0  14.0  13.4  — %
Hot Shot Services, Inc and TFB, Ltd Co(#,^)4111 Ellison St. NE, Albuquerque, NM 87109Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/29/2043390.4  390.4  442.5  0.14 %
Lou & Choo Enterprises Inc.(#,^)2101 W Hunting Park Ave, Philadelphia, PA 19140Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/2044105.8  105.8  113.1  0.04 %
Cartwright Termite & Pest Control Inc. and Cartwright Termite &Pest Co(#,^)1376 Broadway, El Cajon, CA 92021Administrative and Support ServicesTerm LoanPrime plus 2.75%3/28/2028205.3  205.3  199.9  0.06 %
Corning Lumber Company Inc & Frank R Close & Son Inc dba True Valley C(#,^)111 E. Laurel St., Willows, CA 95988Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/28/202877.2  77.2  80.7  0.03 %
Clancy 15 LLC and Allied Molded Products LLC(#,^)1145 13th Ave East, Palmetto, FL 34221Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/28/2043210.3  210.3  223.7  0.07 %
Clancy 15 LLC and Allied Molded Products LLC(#,^)1145 13th Ave E, Palmetto, FL 34221Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%3/28/2028136.7  136.7  134.0  0.04 %
Montage Mountain Resorts, LP(#,^)1000 Montage Mountain Rd, Scranton, PA 18505Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/28/20431,220.0  1,220.0  1,382.9  0.43 %
K.C. Communications, Inc.(#,^)2715 Saturn St., Brea, CA 92821TelecommunicationsTerm LoanPrime plus 2.75%3/27/202855.1  55.1  57.6  0.02 %
Towing Professionals of Arizona Inc dba Shamrock Towing, All Valley Im(#,^)2801 W Osborn Rd, Phoenix, AZ 85017Support Activities for TransportationTerm LoanPrime plus 2.75%3/26/2028132.3  132.3  125.7  0.04 %
216
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Towing Professionals of Arizona Inc dba Shamrock Towing & All Valley I(#,^)2801 W Osborn Rd, Phoenix, AZ 85017Support Activities for TransportationTerm LoanPrime plus 2.75%3/26/2043525.8  525.8  543.3  0.17 %
Cable Management, LLC(#,^)200 Pratt St., Meriden, CT 06450Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202887.3  87.3  86.0  0.03 %
Aque Investment Group LLC(#,^)3838 N Sam Houston Pkwy E, Houston, TX 77032Real EstateTerm LoanPrime plus 2.75%3/23/2028234.2  234.2  244.8  0.08 %
All Regional Recyclers of Wood LLC dba ARROW(#,^)104 Wooster St., Bethal, CT 06801Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/2028115.8  115.8  113.9  0.04 %
Denton BioFuels LLC and Amercian BioSource, LLC(#,^)624 W University Dr. #359, Denton, TX 76201Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202886.0  86.0  82.9  0.03 %
Sunshine Tents and Event Rentals LLC(#,^)2322 SW 58th Terrace, West Park, FL 33023Rental and Leasing ServicesTerm LoanPrime plus 2.75%3/23/202853.2  53.2  55.6  0.02 %
Shweiki Media Inc dba Study Breaks Magazine(#,^)4954 Space Center Drive, San Antonio, TX 78218Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/23/202866.2  66.2  68.7  0.02 %
New York Label & Box Corp(#,^)50 Oval Drive, Islandia, NY 11749Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/23/20431,220.0  1,220.0  1,330.7  0.41 %
Sofasco, Inc(#,^)182 Garber Lane, Winchester, VA 22602Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/23/204397.6  97.6  103.1  0.03 %
Kajun Martial Arts LLC(#,^)36546 Mission St., Prairieville, LA 70769Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/23/202819.9  19.9  18.5  0.01 %
GeoTek Alaska, Inc(#,^)2756 Commercial Drive, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/21/2043829.6  829.6  906.9  0.28 %
RTSP Union LLC(#,^)2438 Route 22 East, Union, NJ 07083Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%9/20/20281,107.2  1,107.2  1,071.5  0.33 %
Rexco Foods LLC dba Papa John's(#,^)18640 Fm 1488 Ste C, Magnolia, TX 77354Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/20/202837.5  37.5  34.3  0.01 %
Cest Chic Concepts, LLC dba Salon Cest Chic(#,^)15231 Hall Station Rd Unit 104, Bowie, MD 20721Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/19/20289.9  9.9  9.3  — %
Petroleum Equipment & Services, Inc(#,^)5631 Silverado Way Unit G, Anchorage, AK 99518Support Activities for MiningTerm LoanPrime plus 2.75%3/16/2028220.6  220.6  230.5  0.07 %
Camerabots Media, LLC(#,^)4501 Ford Ave Ste 207, Alexandria, VA 22302Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/16/202813.3  13.3  12.4  — %
Bear Bones, Inc.(#,^)43 Libson St., Lewiston, ME 04240Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%3/15/204322.0  22.0  24.5  0.01 %
Rojenco II,Inc.(#,^)4357 Shore Drive, Virginia Beach, VA 23455Repair and MaintenanceTerm LoanPrime plus 2.75%9/15/204375.3  75.3  83.2  0.03 %
Rojenco, Inc. dba Buggy Bathe Auto Wash Lube & Detail Shoppe(#,^)2217 Richmond Rd, Williamsburg, VA 23188Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2043506.5  506.5  559.2  0.17 %
CTD Operations Inc(#,^)219 Saint Nazaire Rd STE G, Broussard, LA 70518Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/202858.7  58.7  54.6  0.02 %
217
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Rojenco II, Inc.(#,^)4357 Shore Drive, Virginia Beach, VA 23455Repair and MaintenanceTerm LoanPrime plus 2.75%3/15/2043392.8  392.8  433.6  0.13 %
Rojenco, Inc. dba The Buggy Bathe Auto Wash Lube & Detail Shoppe(#,^)2217 Richmond Rd, Williamsburg, VA 23188Repair and MaintenanceTerm LoanPrime plus 2.75%9/15/204375.3  75.3  83.2  0.03 %
Summit Insights Group LLC(#,^)19 Briant Parkway, Summit, NJ 07901Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/14/202840.0  40.0  36.5  0.01 %
Dante Ultimate Cleaning Service LLC(#,^)16969 River Park Dr, Covington, LA 70345Administrative and Support ServicesTerm LoanPrime plus 2.75%3/9/20289.0  9.0  8.7  — %
SRG Waterfront LLC(#,^)88 District Square SW, Washington, DC 20005Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/9/2028264.7  264.7  245.0  0.08 %
2b Mom Inc dba Mom's the Word Maternity(#,^)3150 18th St., Ste 435, San Francisco, CA 94110Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%3/9/202885.9  85.9  78.6  0.02 %
Bee Kidz Funzone Inc(#,^)10301 Southern Blvd, Royal Palm Beach, FL 33411Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/9/2028177.5  177.5  167.2  0.05 %
Integrity Machinery Moving, LLC(#,^)9125 North Time Oil Rd, Portland, OR 97203Support Activities for TransportationTerm LoanPrime plus 2.75%3/8/202819.9  19.9  20.7  0.01 %
Treft Systems Inc(#,^)1050 Kings Hwy N Ste 107, Cherry HIll, NJ 08034Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/8/202813.2  13.2  12.2  — %
Play4Fun dba Luv 2 Play(#,^)13722 Jamboree Rd, Irvine, CA 92602Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/7/2028158.4  158.4  150.8  0.05 %
Unpainted Arizona, LLC dba Westside Bowl(#,^)2617 Mahoning Ave, Youngstown, OH 44509Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/7/2043102.3  102.3  111.0  0.03 %
Espinoza & Salinas Group Ltd dba Credit 360 Consulting(#,^)17806 IH 10 Ste 300, San Antonio, TX 78257Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/2/20284.4  4.4  4.1  — %
BC Bishop Enterprises LLC dba 9Round Pooler(#,^)105-107 Grand Central Blvd, Pooler, GA 31322Educational ServicesTerm LoanPrime plus 2.75%3/2/20287.4  7.4  6.9  — %
Stepping Stones Childrens Academy(#,^)720 Rancho Del Norte Drive, Las Vegas, NV 89031Social AssistanceTerm LoanPrime plus 2.75%3/2/2043248.4  248.4  276.1  0.09 %
Connie Engelbrecht(#,^)20640 Raven Drive, Eagle River, AK 99577Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%2/28/20282.6  2.6  2.4  — %
Merciful Heavenly Homes, LLC(#,^)401 Dillar's Mill Rd, Tyner, NC 27980Nursing and Residential Care FacilitiesTerm Loan8%2/28/204362.9  62.9  59.7  0.02 %
Urban Fitness Group LLC dba Crunch Fitness Group LLC(#,^)2800 S IH-35 Ste 220, Round Rock, TX 78681Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/28/2028196.2  196.2  205.0  0.06 %
The Law Offices of Samuel R Miller LLC(#,^)7405 Lake Worth Rd, Lake Worth, FL 33467Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/28/2043116.0  116.0  131.3  0.04 %
Carey Collision Repairs Inc.(#,^)295 D Bucheimer Rd, Fredrick, MD 21701Repair and MaintenanceTerm LoanPrime plus 2.75%2/27/202865.7  65.7  61.5  0.02 %
218
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Purely Seed LLC(#,^)11515 Lake Lane Ste 102, Chisago, MN 55013Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%2/26/2028109.5  109.5  100.0  0.03 %
Betty's Catering Corp, Betty's Decoration & Wedding Center Inc.(#,^)94-33 Corona Ave, Corona, NY 11373Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/26/2043348.4  348.4  394.5  0.12 %
Carries Cakes and Catering, Inc dba Carrie's Cakes and Confections(#,^)4308 Holland Rd, Virginia Beach, VA 23452Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/23/20284.3  4.3  4.0  — %
Jackpine Technologies Corporation(#,^)Mill & Main Building 2 Ste 640, Maynard, MA 01754Publishing Industries (except Internet)Term LoanPrime plus 2.75%2/22/202856.9  56.9  57.5  0.02 %
Crossfit iQ LLC(#,^)346 Pike Rd, Bay 8-9, West Palm Beach, FL 33411Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/21/202837.2  37.2  34.9  0.01 %
Wellfleet Consulting Inc.(#,^)2275 Research Blvd Ste 500, Rockville, MD 20850Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/21/202813.1  13.1  12.0  — %
New View Media Group LLC(#,^)1 Old Wolfe Rd Ste 205, Budd Lake, NJ 07828Publishing Industries (except Internet)Term LoanPrime plus 2.75%2/16/202872.3  72.3  75.5  0.02 %
Town & Country Transportation Co.(#,^)191-193 Arch St., New Britain, CT 06051Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/16/202858.4  58.4  61.0  0.02 %
Lulinjett LLC dba All American Printing & Design(#,^)4621 Bayshore Rd, Fort Myers, FL 33917Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%2/14/2043103.7  103.7  117.4  0.04 %
Margab Inc dba Smoothie King(#,^)14200 SW 8th St Unit #102, Miami, FL 33184Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/13/202811.2  11.2  10.5  — %
JumboMarkets, Inc.(#,^)15500 SW Trail Drive, Indiantown, FL 34956Food and Beverage StoresTerm LoanPrime plus 2.75%2/13/2028181.7  181.7  171.5  0.05 %
Tony Herring & Associates, Inc.(#,^)211 West Camellia Drive, Slidell, LA 70458Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%2/9/20287.2  7.2  7.5  — %
Quality Machine of Iowa, Inc(#,^)1040 4th Ave, Audubon, IA 50025Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%2/9/20281,144.4  1,144.4  1,129.6  0.35 %
Start "UP "Dreams, Inc dba SDC Concrete and Start"UP" Dream Constructi(#,^)30521 134th St SE, Sultan, WA 98294Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/9/202865.7  65.7  63.2  0.02 %
Apps Inc., Market Share, and Singular Leaseholdings LLC(#,^)800 Village Walk #159, Guilford, CT 06437TelecommunicationsTerm LoanPrime plus 2.75%2/8/2028458.2  458.2  418.6  0.13 %
De La Vega LLC dba De La Vega Deland and De La Vega Oviedo(#,^)128 North Woodland Blvd, Deland, FL 32720Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/7/202868.9  68.9  65.3  0.02 %
Macrotech Integrated Management Solutions dba Extreme Lawn Care(#,^)2425 Durrance LN, Ormond Beach, FL 32174Repair and MaintenanceTerm LoanPrime plus 2.75%2/5/202810.5  10.5  11.0  — %
Midlothian Hardware Inc dba Grills True Value(#,^)4751 West 147th St., Midlothian, IL 60445Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%2/2/202813.1  13.1  13.7  — %
M&R Wong LLC(#,^)1345 North Shepherd Dr, Houston, TX 77008Administrative and Support ServicesTerm LoanPrime plus 2.75%2/1/202810.4  10.4  9.5  — %
219
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Chace Building Supply of CT Inc.,(#,^)90 Route 171, Woodstock, CT 06281Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%1/31/2043292.2  292.2  330.8  0.10 %
Rocco'sLandscaping LLC(#,^)151 Kitts Lane, Newington, CT 06111Administrative and Support ServicesTerm LoanPrime plus 2.75%1/31/204373.0  73.0  82.6  0.03 %
USA General Investment LLC dba Braniff Paint and Body Shop(#,^)2290 NW 21st Terrace, Miami, FL 33142Repair and MaintenanceTerm LoanPrime plus 2.75%1/31/202813.0  13.0  12.2  — %
WydeBodi, LLC dba Wyde Bodi Auto Tags(#,^)706 North 37th St., Philadelphia, PA 19104Support Activities for TransportationTerm LoanPrime plus 2.75%1/30/204346.2  46.2  50.9  0.02 %
New Phaze Packaging Inc(#,^)9533 Irondale Ave, Los Angeles, CA 91311Paper ManufacturingTerm LoanPrime plus 2.75%1/26/2043933.6  933.6  1,053.4  0.33 %
Parati USA Inc(#,^)1018 Wilt Ave, Ridgefield, NJ 07657Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%1/25/202814.7  14.7  13.5  — %
Concrete Services LLC and James Ward(#,^)24 County Rd 901, Jemison, AL 35085Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/25/202886.9  86.9  83.8  0.03 %
Southside BBQ Corp(#,^)16032 South Hwy 16, Cherokee, TX 76832Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/25/202816.9  16.9  17.7  0.01 %
Flair Interiors, Inc dba Giant Don's Flooring America(#,^)7725 Old Seward Hwy, Anchorage, AK 99502Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%1/24/2028119.5  119.5  124.9  0.04 %
Tier1 Solutions LLC(#,^)1000 Essington Rd, Juliet, IL 60435Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/23/20286.5  6.5  6.1  — %
Weeping Willow Kennels, Inc.(#,^)6041 Hammond School Rd, Salisbury, MD 21804Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/19/20289.1  9.1  9.5  — %
Lavish Specs Inc(#,^)262 Glen St., Glen Cove, NY 11542Machinery ManufacturingTerm LoanPrime plus 2.75%1/19/20286.5  6.5  6.0  — %
Friend Contractors, LLC(#,^)1950 Mill Bay Rd, Kodiak, AK 99615Construction of BuildingsTerm LoanPrime plus 2.75%1/19/2043226.3  226.3  246.1  0.08 %
MedWorxs Inc.(#,^)6857 Timbers Dr., Evergreen, CO 80439Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/18/202868.5  68.5  62.5  0.02 %
Lou & Choo Enterprises Inc dba Lou & Choo Lounge(#,^)2101,2103,2105 W Hunting Park Ave, Philadelphia, PA 19140Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/18/2043111.9  111.9  121.0  0.04 %
Specialized Dairy Processors LLC and Nathaly Zapata(#,^)2200 N Commerce Parkway, Weston, FL 33326Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/16/202856.5  56.5  51.6  0.02 %
Human Resource Time Manager LLC(#,^)2737 Humphrey St., East Elmhurst, NY 11369Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/8/202813.4  13.4  14.0  — %
Impress Therapeutic Massage LLC(#,^)3145 Suntree Blvd Ste 102, Rockledge, FL 32955Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%1/8/204361.4  61.4  68.1  0.02 %
Sandfree Systems LLC(#,^)116 Cricket Ave Ste B, Ardmore, PA 19003Specialty Trade ContractorsTerm LoanPrime plus 2.75%1/5/20286.5  6.5  6.8  — %
Crad Holding LLC dba Neighborhood Laundry of Bloomfield(#,^)60 Dodd St., Bloomfield, NJ 07003Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/5/202854.3  54.3  50.0  0.02 %
220
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Social Link LLC(#,^)41 Peabody St., Nashville, TN 37210Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/29/20279.7  9.7  8.9  — %
Farec, Inc(#)30250 W Nine Mile Rd, Farmington, MI 48336Amusement, Gambling, and Recreation IndustriesTerm Loan7.5%12/29/2042242.4  242.4  223.3  0.07 %
Morrocco Method, Inc(#,^)800 Farroll Rd, Grover Beach, CA 93433Chemical ManufacturingTerm LoanPrime plus 2.75%12/27/2042707.3  707.3  785.3  0.24 %
Anglin Cultured Stone Products LLC(#,^)877 Salem Church Rd, Newark, DE 19702Construction of BuildingsTerm LoanPrime plus 2.75%12/27/2042630.5  630.5  660.5  0.20 %
Muckamuck Trucks, Inc.(#,^)510 S Spring St., Ukiah, CA 95482Truck TransportationTerm LoanPrime plus 2.75%12/22/202711.8  11.8  11.7  — %
O'Rourke's Diner, LLC(#,^)728 Main St., Middleton, CT 06457Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/22/20273.2  3.2  3.2  — %
Dudeck Enterprise LLC dba Detail Garage Las Vegas(#,^)2360 S Rainbow Blvd Ste 3, Las Vegas, NV 89146Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/22/202714.0  14.0  14.6  — %
Anderson Farms Inc(#)271 West Hwy 30, Burley, ID 83318Truck TransportationTerm Loan7.5%12/22/20271,084.7  1,084.7  914.2  0.28 %
Medical Plaza of Boro Park PC(#,^)1266 51St 1st Floor, Brooklyn, NY 11219Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/202753.9  53.9  49.2  0.02 %
Landmark Ventures USA Inc(#,^)475 Park Ave S 25th Fl, New York, NY 10016Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%12/22/202753.9  53.9  49.2  0.02 %
Salida Family Chiropractic-PPLC dba Salida Sport and Spine(#,^)203 G St., Salida, CO 81201Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/22/202710.4  10.4  9.4  — %
Lab Partner, LLC and Beechtree Diagnostics, LLP and Cottonwood Diag(#,^)12351 Gateway Park Place, Draper, UT 84020Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/22/2027671.4  671.4  620.0  0.19 %
Jacliff Investments Inc dba International Heal(#,^)2355 South 1070 West, Ste D, Salt Lake City, UT 84119Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/22/202743.1  43.1  39.3  0.01 %
Blue Lagoon Resort, LLC dba Hill View Cottages(#,^)3670 Lake Shore Drive, Lake George, NY 12845AccommodationTerm LoanPrime plus 2.75%12/21/2042181.1  181.1  204.8  0.06 %
CT Auto Spa LLC(#,^)39 Albany Turnpike, West Simsbury, CT 06092Repair and MaintenanceTerm LoanPrime plus 2.75%12/21/2027189.3  189.3  197.2  0.06 %
DHD Enterprise LLC dba Edible Arrangements #1699(#,^)828 Washington Ave, Miami Beach, FL 33139Miscellaneous Store RetailersTerm LoanPrime plus 2.75%12/21/202719.7  19.7  18.7  0.01 %
DBMS Consulting, Inc.(#,^)164 W 83rd St. #CF1 & CF2, New York, NY 10024Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/20/202764.7  64.7  63.8  0.02 %
Best Quality Home Care LLC(#,^)317 S Berry St., Centralia, WA 98531Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/19/20276.2  6.2  5.7  — %
Auto Excellance of Fort Myers Inc.(#,^)3105 Fowler St., Fort Myers, FL 33901Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/19/2042103.3  103.3  116.8  0.04 %
Legion Bowl, Inc & Legion Pub Inc(#,^)661 Park St., Cranston, RI 02910Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/15/2042324.6  324.6  367.1  0.11 %
221
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
1-0 Granny's Helpful Hands, LLC(#,^)705 East Lake St., Minneapolis, MN 55407Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/15/202719.4  19.4  17.9  0.01 %
Ocean Trans LLC & Dehal Trucking LLC(#,^)1415 W. Anderson St., Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%12/15/2042598.7  598.7  628.5  0.20 %
JMD Aviation Holdings, LLC(#,^)8050 NW 90th St., Medley, FL 33166Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/15/2027431.3  431.3  447.5  0.14 %
Capital Containers LLC(#,^)7610 Auburn Blvd #4B, Citrus Heights, CA 95610Truck TransportationTerm LoanPrime plus 2.75%12/15/202719.4  19.4  18.1  0.01 %
Peanut Butter & Co., Inc(#,^)119 West 57th St., Ste 300, New York, NY 10019Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/15/2027194.1  194.1  177.0  0.05 %
Atlas Geo-Constructors, LLC(#,^)3466 Thomasville Rd, Winston Salem, NC 27107Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/14/2027262.3  262.3  261.2  0.08 %
KR Calvert & Co, LLC(#,^)113 Seaboard Lane #C-270, Franklin, TN 37067Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/14/2027435.9  435.9  399.0  0.12 %
Royalty Freight Inc(#,^)3728 W Mckinley Ave, Fresno, CA 93722Truck TransportationTerm LoanPrime plus 2.75%12/14/2027587.9  587.9  536.2  0.17 %
AADJ Empire Inc and AADJ Galaxy Inc.(#,^)1599 Post Rd, Warwick, RI 02888Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/2042176.1  176.1  187.8  0.06 %
Heung Kyun Im(#,^)6235 Conlan Bay Drive, Houston, TX 77041Nonstore RetailersTerm LoanPrime plus 2.75%12/14/202713.3  13.3  12.2  — %
Hana Pastries Enterprises LLC dba Hana Kitchens, Hana Pastries, Inc. d(#,^)34 35th St., Brooklyn, NY 11232Food ManufacturingTerm LoanPrime plus 2.75%12/14/202783.2  83.2  84.8  0.03 %
LP Industries Inc. dba Childforms(#,^)2040 Norwood St. SW, Lenoir, NC 28645Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%12/14/202764.9  64.9  65.1  0.02 %
Beale Street Blues Company Inc.dba B.B. King's Club-Memphis(#,^)149 Monroe Ave, Memphis, TN 38103Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/14/2027869.2  869.2  798.7  0.25 %
Barcade Holdings, LLC ,Barcade LLC,& Barcade New Haven LLC(#,^)148 West 24th St., New York, NY 10011Management of Companies and EnterprisesTerm LoanPrime plus 2.75%12/14/202754.4  54.4  50.4  0.02 %
Nichols Fire and Security LLC(#,^)1906 Vanderhorn Drive, Memphis, TN 38134Administrative and Support ServicesTerm LoanPrime plus 2.75%12/13/204285.0  85.0  92.2  0.03 %
Hardway Inc & AFC Leasing Inc(#,^)12533 S. 73rd E. Place, Bixby, OK 74008Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/13/2027778.6  778.6  710.1  0.22 %
Clore Construction LLC(#,^)21220 FM 1420, Harlingen, TX 78550Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%12/12/2027398.5  398.5  393.7  0.12 %
A-1 Van Services Inc(#,^)154 Sandy Creek Rd, Verona, PA 15147Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/12/2027620.7  620.7  618.2  0.19 %
Sky Way Enterprises, Inc, A-Liner-8-Aviation, Inc, Kissimmee Aviation(#,^)3031 Patrick St, Kissimmee, FL 34741Air TransportationTerm LoanPrime plus 2.75%12/12/2027446.7  446.7  407.4  0.13 %
222
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Jai Ganeshai LLC, Mahiveera 1 LLC, Mahiveera 2 LLC & KSVP LLC(#,^)1120 Wren School Rd, Piedmont, SC 29673Gasoline StationsTerm LoanPrime plus 2.75%12/12/202743.0  43.0  39.2  0.01 %
Big Picture Group LLC(#,^)110 S. Fairfax Ave, Los Angeles, CA 90036Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/12/2027324.7  324.7  307.8  0.10 %
The Ohio Valley Group Inc dba Ohio Valley Landscapes & Design(#,^)16965 Park Circle Drive, Chagrin Falls, OH 44023Administrative and Support ServicesTerm LoanPrime plus 2.75%12/12/202712.9  12.9  12.2  — %
LPB LPB Property Management Inc dba Wilderness View Cabins & Ellijay C(#,^)498 Wilderness View, Chatsworth, GA 30705Real EstateTerm LoanPrime plus 2.75%12/12/204297.2  97.2  109.7  0.03 %
Clear Sound Communications, Inc(#,^)680 Old Medford Ave, Medford, NY 11763Administrative and Support ServicesTerm LoanPrime plus 2.75%12/8/20273.2  3.2  3.0  — %
AV Strategy Inc(#,^)9402 American Eagle Way Ste 100, Orlando, FL 32837Rental and Leasing ServicesTerm LoanPrime plus 2.75%12/8/2027381.7  381.7  370.4  0.11 %
JVLS LLC dba Vaccines 2 Go(#,^)4060 Johns Creek Pkwy, Ste H, Suwanee, GA 30024Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/7/202712.9  12.9  11.8  — %
Kim Howard Corp dba NPN Machine Tools(#,^)9130 Wayfarer Lane, Houston, TX 77075Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/7/2042562.5  562.5  635.3  0.20 %
IHC Hardware Inc.(#,^)614 Broad St., Story City, IA 50248Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%12/6/204297.2  97.2  102.5  0.03 %
ODS Inc(#,^)626 N Delsea Drive, Glassboro, NJ 08028Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/6/202742.3  42.3  40.6  0.01 %
Oil Palace, Inc.(#,^)10408 Hwy 64 E, Tyler, TX 75707Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/4/2042961.7  961.7  1,087.7  0.34 %
Healthcare Interventions, Inc dba Brightstar Healthcare of & Brightsta(#,^)5300 W Atlantic Ave Ste 501, Delray Beach, FL 33484Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/4/202712.9  12.9  11.8  — %
Linda Jean Howard Riley dba The Rusty Bolt(#,^)22345 W. Rt 66, Seligman, AZ 86337Miscellaneous Store RetailersTerm LoanPrime plus 2.75%12/1/204220.4  20.4  23.1  0.01 %
Salud Bar & Grill LLC(#,^)1413 Bushwick Ave, Brooklyn, NY 11207Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/1/202748.5  48.5  44.5  0.01 %
Utara LLC(#,^)214 Pine St, Sandpoint, ID 83864Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/1/202720.1  20.1  19.3  0.01 %
Square1 Partners, LLC(#,^)1088 Greenbriar Lane, Northbrook, IL 60062Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/1/202754.3  54.3  49.5  0.02 %
Fortress Verve Inc, Maurice R. Margules and Antonie C. Reinhard(#,^)1 Jackson St., Troy, NY 12180Miscellaneous Store RetailersTerm LoanPrime plus 2.75%11/30/2027112.3  112.3  115.4  0.04 %
WTI Distribution Inc(#,^)14277 Ramona Ave, Chino, CA 91710Support Activities for TransportationTerm LoanPrime plus 2.75%11/30/202734.2  34.2  33.5  0.01 %
223
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Create- A- Stitch, Inc(#,^)3585 SW 10th St., Pompano Beach, FL 33069Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/30/204284.9  84.9  95.1  0.03 %
Frontier Sand LLC(#,^)305 Country Hwy AA, New Auburn, WI 54757Mining (except Oil and Gas)Term LoanPrime plus 2.75%11/30/2027463.6  463.6  468.2  0.15 %
Skin Beauty Bar Inc. and Tameka J. Mathis(#,^)749 8th St. SE 2nd Fl, Washington, DC 20003Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/30/20277.7  7.7  7.2  — %
J. Venture Holdings, LLC(#,^)2285 St. Andrews Ave, Zachary, LA 70791Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/30/202710.7  10.7  11.1  — %
Clearwater Transportation LTD dba Thrifty Car Rental, Dollar Rent A Ca(#,^)8790 Crownhill Blvd, San Antonio, TX 78209Rental and Leasing ServicesTerm Loan8.25%11/29/2027153.7  153.7  130.9  0.04 %
OPH Lexington, Inc(#,^)235 Walton Ave, Lexington, KY 40502Social AssistanceTerm LoanPrime plus 2.75%11/29/2042188.3  188.3  212.9  0.07 %
Our Playhouse Preschool, LLC(#,^)3501 NC Hwy 54 W, Chapel hill, NC 27516Social AssistanceTerm LoanPrime plus 2.75%11/29/2042231.7  231.7  262.0  0.08 %
Beacon Brewing LLC and C' Sons, LLC(#,^)700 Lincoln St., Lagrange, GA 30204Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/27/2042123.2  123.2  139.3  0.04 %
JMD Corporation dba Dart's True Value(#,^)121 South Main St., Payette, ID 83661Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/22/202716.0  16.0  15.7  — %
Webtez Inc dba Mod Vans(#,^)1673 Donlon St., Ste 202, Ventura, CA 93003Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/22/202759.9  59.9  54.9  0.02 %
Step Up Academy of the Arts, LLC(#,^)2258A Wigwam Parkway, Henderson, NV 89074Educational ServicesTerm LoanPrime plus 2.75%11/22/202713.5  13.5  12.3  — %
Cali Fit Meals(#,^)3450 E Orangethrope Ave, Anaheim, CA 92806Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/202719.3  19.3  18.9  0.01 %
Grumpy's Restaurant Company, LLC(#,^)834 Kingsley Ave, Orange Park, FL 32073Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/21/202760.9  60.9  55.7  0.02 %
PB Market LLC dba Pure Barre(#,^)164-C Market St, Charleston, SC 29401Educational ServicesTerm LoanPrime plus 2.75%11/21/202792.9  92.9  84.9  0.03 %
B Lam LLC(#,^)9419 Kenwood Rd, Cincinnati, OH 45242Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/20/2042175.9  175.9  195.3  0.06 %
TPE Midstream LLC, Dasham Company dba Sahm Co & S & S Ventures Inc.(#,^)7799 South Regency Drive, Tulsa, OK 74131Rental and Leasing ServicesTerm LoanPrime plus 2.75%11/17/2027161.8  161.8  161.7  0.05 %
Maya Motel, LLC dba Town House Motel(#,^)1701 Washington Ave, Waco, TX 76701AccommodationTerm LoanPrime plus 2.75%11/17/204255.3  55.3  62.6  0.02 %
SSI Refrigerated Express Inc. and Robert M Stallone(#,^)1001 E. Cooley Drive Ste 102, Colton, CA 92324Truck TransportationTerm LoanPrime plus 2.75%11/17/202753.4  53.4  49.8  0.02 %
Jacob's Towing, Inc.dba Jacob's Automotive Locksmith & Jacob's Auto Re(#,^)558 West Main St., Lebanon, OH 45036Support Activities for TransportationTerm LoanPrime plus 2.75%11/17/202742.8  42.8  40.7  0.01 %
224
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Southern Specialty Contractor, LLC & Ronald David Holbrook Jr.(#,^)1990 Flippen Rd, Stockbridge, GA 30281Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/17/202745.4  45.4  41.8  0.01 %
Murf & Sons LLC(#,^)3821 Pleasant Hill Rd, Store #B-107, Kissimmee, FL 34746Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/16/2027142.4  142.4  131.7  0.04 %
H & H Hotshot Services, Inc.(#,^)5455 N. 51st Ave Ste 30, Glendale, AZ 85301Couriers and MessengersTerm LoanPrime plus 2.75%11/16/202759.9  59.9  56.9  0.02 %
J R Wholesale Tires & Auto Center, LLC(#,^)822 Cameron Lane, Lugoff, SC 29078Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/15/204213.1  13.1  14.8  — %
Auto Rx LLC,J&P Auto Repair Inc(#,^)91 & 95 Woodbury Rd, Hicksville, NY 11801Repair and MaintenanceTerm LoanPrime plus 2.75%11/15/2042190.4  190.4  214.5  0.07 %
Marcaco LLC(#,^)124 Lincoln Ave, Colonie, NY 12205Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%11/15/2042609.4  609.4  680.2  0.21 %
Paramount Dance Studios Inc. and Homestead Dance Supply(#,^)112 N Krome Ave, Homestead, FL 33033Educational ServicesTerm LoanPrime plus 2.75%10/14/2043457.5  457.5  501.6  0.16 %
Wing King at the Gardens LLC(#,^)4235 S Fort Apache Rd, Ste 250, Las Vegas, NV 89147Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/10/20278.3  8.3  7.6  — %
Linqserv Inc.(#,^)1555 Lyell Ave, Rochester, NY 14606Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%11/9/2027285.6  285.6  297.9  0.09 %
Hofgard & Co, Inc dba Hofgard Benefits and James Marsh(#,^)400 S. McCaslin Blvd, Ste 201, Louisville, CO 80027Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/8/202712.8  12.8  11.7  — %
JNP Delivery Inc(#,^)4500 North Providence # 7, Appleton, WI 54913Couriers and MessengersTerm LoanPrime plus 2.75%11/7/202795.8  95.8  92.7  0.03 %
His Loving Hands Christian Academy, Inc.(#,^)15020 Harrison St., Miami, FL 33176Social AssistanceTerm LoanPrime plus 2.75%11/6/204289.0  89.0  98.9  0.03 %
S & S Auto Body Shop Inc.(#,^)5001 W. Clay St., Richmond, VA 23230Repair and MaintenanceTerm LoanPrime plus 2.75%11/3/2042160.1  160.1  180.0  0.06 %
Sterling Campbell Insurance Agency, Inc(#,^)36359 N Gantzel Rd Ste 102, San Tan Valley, AZ 85140Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%11/3/20276.4  6.4  5.9  — %
Top Quality Dent Service LLC(#,^)1541 Vapor Trail, Colorado Springs, CO 80905Repair and MaintenanceTerm LoanPrime plus 2.75%11/2/20275.2  5.2  4.8  — %
Edge Studios Inc Radiant Yoga LLC(#,^)448 Howe Ave, Sacramento, CA 95825Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/1/202756.6  56.6  52.8  0.02 %
Rachael Reel dba Rachel Reel Insurance Age(#,^)208 Bank St., Lenoir, TN 37771Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%10/31/20276.4  6.4  5.8  — %
Berza TLG,LLC dba The Little Gym of Lake Charles(#,^)1301 E McNeese St., Ste 201, Lake Charles, LA 70607Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/31/202736.0  36.0  33.5  0.01 %
Die Hard Used Car Sales(#,^)1668 West Grand Ave, Phoenix, AZ 85007Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%10/30/204254.6  54.6  61.8  0.02 %
225
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
The Five Lakes LLC(#,^)13705 Holmes Rd, Kansas City, MO 64154Educational ServicesTerm LoanPrime plus 2.75%10/30/2042460.3  460.3  520.6  0.16 %
Ashore Ventures Inc dba PuroClean Professional Restoration(#,^)909 SE Everett Mall Way Ste A-140, Everett, WA 98208Repair and MaintenanceTerm LoanPrime plus 2.75%10/27/202712.4  12.4  11.6  — %
Blue Eagle Transport Inc , Golden Eagle Transport, Inc & Green Eagle T(#,^)377 Boston Post Rd Unit B, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%10/27/202731.8  31.8  29.8  0.01 %
Sage Oil LLC(#,^)8913 Egyptian Ave, Las Vegas, NV 89143Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%10/27/20278.5  8.5  7.9  — %
Suzie LLC dba Tony D's Restaurant(#,^)92 Huntington St., New London, CT 06320Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/25/204284.8  84.8  94.9  0.03 %
Grand Blanc Lanes, Inc.(#,^)5301 S. Saginaw Rd, Flint, MI 48507Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/25/202712.7  12.7  13.3  — %
Schafer Fisheries Inc(#,^)21985 Waller Rd, Fulton, IL 61252Food ManufacturingTerm LoanPrime plus 2.75%10/25/202729.7  29.7  31.0  0.01 %
Action Physical Therapy Yoga and Wellness Center Inc.(#,^)5811 S Westnedge Ave, Portage, MI 49002Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/24/202719.2  19.2  19.4  0.01 %
Looky Enterprises, LLC(#,^)1175 Surlington Ave, Ste 101, Leland, NC 28451Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/18/202756.5  56.5  52.8  0.02 %
Island Refrigeration & AC Inc(#,^)3201 Flagler Ave, Unit 510 & 511, Key West, FL 33040Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/18/2042130.0  130.0  142.4  0.04 %
Blueridge Armor LLC(#,^)1495 Hwy 74-A Bypass, Ste 150192, Spindale, NC 28160Miscellaneous ManufacturingTerm LoanPrime plus 2.75%10/17/20277.0  7.0  6.8  — %
H and K Dry Cleaning LLC ,Quintero Shopping Center LLC,Aqua Laundry, L(#,^)1227 Burnside Ave, East Hartford, CT 06108Electronics and Appliance StoresTerm Loan7.94%10/17/204262.4  62.4  59.1  0.02 %
Albas Bar & Grill LLC(#,^)221 Self Main St., Homer City, PA 15748Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/13/204243.9  43.9  46.5  0.01 %
Cortez Landscaping, LLC(#,^)4 Powder Rd, Norwalk, CT 06854Administrative and Support ServicesTerm LoanPrime plus 2.75%10/13/202716.3  16.3  15.7  — %
On Call Services LLC(#,^)15060 281St Ave NW, Zimmerman, MN 55398Construction of BuildingsTerm LoanPrime plus 2.75%10/13/202715.5  15.5  16.2  0.01 %
Crawfordsville Fitness LLC dba Planet Fitness(#,^)1632 Bush Lane, Crawfordsville, IN 47933Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/13/2027105.4  105.4  98.5  0.03 %
JD Ventures LLC and JD Roof Co LLC(#,^)2101 Hillshire Circle, Memphis, TN 38133Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/12/202719.3  19.3  18.0  0.01 %
Pro Anderson, LLC(#,^)1092 Hampton Inn Way, Ste 400, Jacksonville, NC 28546Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/11/202745.9  45.9  42.5  0.01 %
Sandbox Ventures LLC(#,^)1857 A Elmdale Ave, Glenview, IL 60026Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/11/202716.2  16.2  16.3  0.01 %
226
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Eye Optique Inc.(#,^)10800 Alpharetta Hwy, Ste 220, Roswell, GA 30076Health and Personal Care StoresTerm LoanPrime plus 2.75%10/5/202712.7  12.7  11.6  — %
Ains Holding Company LLC(#,^)121 Fulton St., New York, NY 10038Management of Companies and EnterprisesTerm LoanPrime plus 2.75%10/2/202772.1  72.1  67.3  0.02 %
Becky Lou Corp dba Rent A Center(#,^)3578 Route 611 Ste 210, Bartonsville, PA 18321Rental and Leasing ServicesTerm LoanPrime plus 2.75%10/2/202777.3  77.3  74.7  0.02 %
Threads of Time LLC(#,^)207 S Buchanan St., Danville, IL 61832Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%9/29/2042133.0  133.0  143.8  0.04 %
Miechella Suzette Decker(#,^)3515 Main St., Exmore, VA 23350Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/29/204297.5  97.5  110.3  0.03 %
Harco Metal Products Inc(#,^)7895 E Acoma Drive Ste 102, Scottsdale, AZ 85260Primary Metal ManufacturingTerm LoanPrime plus 2.75%9/29/2042476.9  476.9  499.5  0.16 %
Sashshel Corporation(#,^)676 Franklin Blvd, Somerset, NJ 08873Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/29/2042205.8  205.8  232.8  0.07 %
Dan Cline Transport Inc.(#,^)501 State Drive, Mount Vernon, MO 65712Truck TransportationTerm LoanPrime plus 2.75%9/29/2030886.0  886.0  841.9  0.26 %
Chicago American Manufacturing LLC, Dockside Steel ProcessingLLC and S(#,^)4500 W 47th St., Chicago, IL 60632Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/29/20421,211.0  1,211.0  1,328.4  0.41 %
Nicholson Lumber Co Inc.(#,^)377 Main St., Nicholson, PA 18446Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%9/28/2030192.1  192.1  199.5  0.06 %
Rhode Island Tennis Management LLC(#,^)636 Centerville Rd, Warwick, RI 02886Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/28/2042371.3  371.3  400.7  0.12 %
National Media Services, Inc(#,^)5091 Lexington Blvd, Fort Meyers, FL 33919Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/28/202715.8  15.8  14.4  — %
Pets A Go Go LLC(#,^)589 North State Rd, Briarcliff Manor, NY 10510Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/28/2042192.7  192.7  213.1  0.07 %
Rhode Island Tennis Management LLC(#,^)636 Centerville Rd, Warwick, RI 02886Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/28/2042533.2  533.2  575.4  0.18 %
Complete Care IT LLC(#,^)4801 South University Drive, Ste 125, Davie, FL 33328Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/27/202712.4  12.4  11.3  — %
Technologist Inc(#,^)1820 N Fort Myer Drive Ste 530, Arlington, VA 22209Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/27/2027215.5  215.5  224.5  0.07 %
Inspirations Food Design, Inc(#,^)1338 Memorial Ave, West Springfield, MA 01089Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/26/2042455.9  455.9  497.0  0.15 %
Rollins Construction & Trucking LLC(#,^)893 South 120 East, Milford, UT 84751Construction of BuildingsTerm LoanPrime plus 2.75%9/26/2027278.9  278.9  285.8  0.09 %
KB Waterjet Cutting LLC(#,^)4330 Parker Lane, Addis, LA 70710Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/22/20278.6  8.6  8.2  — %
227
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
JPS Arthur Kill Rd Bakery Corp dba Aunt Butches of Brooklyn(#,^)4864 Arthur Kill Rd #102,103,104,105, Staten Island, NY 10309Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/22/202718.9  18.9  17.4  0.01 %
Sallee Pro-Custom Fabrication Shop LLC(#,^)8865 North County Rd 600 W, Scipio, IN 47273Repair and MaintenanceTerm LoanPrime plus 2.75%9/21/20277.6  7.6  7.9  — %
Sound Manufacturing, Inc. & Monster Power Equipment, Inc.(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/20/2027168.0  168.0  167.0  0.05 %
Insight Diagnostic Technologist Services(#,^)2030 Forest Ave, Ste 110, San Jose, CA 95128Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/20/2027262.8  262.8  248.3  0.08 %
Commonwealth Diagnostics International, Inc(#,^)1 Holyoke Sq., Salem, MA 01970Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/20/20271,063.3  1,063.3  1,107.2  0.34 %
Imagine By Carleen, Inc.(#,^)1404 Del Prado Blvd S Unit 100, 105, Cape Coral, FL 33904Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/20/20276.3  6.3  6.4  — %
NY Tent LLC & NY Tent Parent, LLC dba Tent Company of New York(#,^)1401 Lakeland Ave, Bohemia, NY 11716Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/20/2027867.3  867.3  868.1  0.27 %
CR Park Incorporated dba Define Body and Mind(#,^)49 W. Allandale Ave, Allendale, NJ 07401Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/20/202768.7  68.7  65.2  0.02 %
Alpha Preparatory Academy LLC(#,^)4462 Mink Livsey Rd, Snellville, GA 30039Social AssistanceTerm LoanPrime plus 2.75%9/20/2042157.2  157.2  169.1  0.05 %
Montessori Community School(#,^)123 South Navarra Drive, Scotts Valley, CA 95066Social AssistanceTerm LoanPrime plus 2.75%9/20/2042284.7  284.7  308.1  0.10 %
Denek Contracting Inc and Denek Leasing LLC(#,^)451 E. Wilson Ave, Pontiac, MI 48341Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/20/2042203.0  203.0  229.4  0.07 %
Max Home Deliveries, Inc(#,^)77 Van Buren St., Port Jefferson Station, NY 11776Couriers and MessengersTerm LoanPrime plus 2.75%9/20/202767.5  67.5  65.0  0.02 %
CIS BIG DOG, LLC(#,^)8920 US HWY, 62 WEST, Cynthiana, KY 41031Administrative and Support ServicesTerm LoanPrime plus 2.75%9/19/202754.7  54.7  56.9  0.02 %
Stone's Construction and Remodeling, LLC(#,^)5210 Kaylin Drive, Akron, OH 44319Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/19/20274.4  4.4  4.0  — %
Party By Design Inc.(#,^)61 Strafello Drive, Avon, MA 02322Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/18/20421,185.5  1,185.5  1,271.0  0.39 %
Li Family Spokane LLC(#,^)21 E. Lincoln Rd, Spokane, WA 99208Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/15/2042372.0  372.0  413.2  0.13 %
Clinton Food Market LLC(#,^)196 East Main St., Clinton, CT 06413Gasoline StationsTerm LoanPrime plus 2.75%9/15/2042253.8  253.8  275.1  0.09 %
Tarleton & Family Landscaping, LLC(#,^)125 E Center St., Midland Park, NJ 07432Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/15/202770.2  70.2  66.0  0.02 %
Alaska Motor Home Inc(#,^)6633 Brayton Dr, Anchorage, AK 99507Rental and Leasing ServicesTerm LoanPrime plus 2.75%9/13/2027279.3  279.3  254.3  0.08 %
Fox Valley Rentals & Investments, LLC(#,^)2906 E. Newberry St., Appleton, WI 54915Food Services and Drinking PlacesTerm LoanPrime plus 3.75%9/13/20276.4  6.4  6.6  — %
228
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Nails By Mercede LLC(#,^)2994 and 2996 Edgewater Drive, Orlando, FL 32804Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/13/202712.0  12.0  11.8  — %
Town & Country Transportation Co. and Popco, LLC.(#,^)191 Arch St., New Britain, CT 06051Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/12/2042163.7  163.7  185.0  0.06 %
Rajbai Maa Inc. dba Nara Lounge(#,^)244-252 Atwells Ave, Providence, RI 02903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/12/2042377.5  377.5  399.0  0.12 %
Health & Performance Center, LLC(#,^)1862 Craigshire Rd, Saint Louis, MO 63146Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/11/202717.2  17.2  15.6  — %
Morgan Lynn Kerstetter dba Catherine School of Dance(#,^)315 Mill St. 3rd Fl, Danville, PA 17821Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/11/20276.3  6.3  6.6  — %
Foxtail, LLC and Tottly New Services Corp(#,^)1481 Highland Ave, Cheshire, CT 06410Social AssistanceTerm LoanPrime plus 2.75%9/8/2042281.8  281.8  306.3  0.10 %
Echelon Planning Group, LLC dba Echelon Financial Services and Echelon(#,^)5 Greenleaf Drive, Unit 201, Portsmouth, NH 03801Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%9/8/20276.3  6.3  6.5  — %
Crazy Beatz Productions LLC(#,^)20014 NE 138th St., Kearney, MO 64060Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 3.75%9/7/20274.5  4.5  4.4  — %
South Fulton Landscape & Nursery, Inc.(#,^)3415 Enon Rd, College Park, GA 30349Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%9/7/204296.9  96.9  109.4  0.03 %
Dreaming Big Learning Center Inc(#,^)3301 W Oak St, Kissimmee, FL 34741Social AssistanceTerm LoanPrime plus 2.75%9/5/2042362.2  362.2  393.0  0.12 %
Big Coop's Trucking LLC(#,^)3066 Misty Creek Drive., Swartz, MI 48473Truck TransportationTerm LoanPrime plus 2.75%9/1/202785.0  85.0  83.8  0.03 %
Blue EagleTransport Inc, Greeneagle Transport Inc & Golden Eagle Tran(#,^)377 Boston Post Rd, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%8/31/2027321.1  321.1  300.6  0.09 %
Busby Outdoor LLC(#,^)1734 Wansley Rd, Laurel, MS 39440Real EstateTerm LoanPrime plus 2.75%8/29/2042684.7  684.7  684.2  0.21 %
Busby Outdoor LLC(#,^)1734 Wansley Rd, Laurel, MS 39440Real EstateTerm LoanPrime plus 2.75%8/29/2042537.9  537.9  537.5  0.17 %
Lake County Tow LLC(#,^)15409 Country Rd 565A, Clermont, FL 34711Support Activities for TransportationTerm LoanPrime plus 2.75%8/25/204284.5  84.5  91.3  0.03 %
Parlay Disributors LLC(#,^)20 Medford Ave, Ste 104, Patchogue, NY 11772Educational ServicesTerm LoanPrime plus 2.75%8/25/202793.1  93.1  86.0  0.03 %
InUSA Ventures Inc dba InUSA Services(#,^)3015 San Pablo Ave, Ste 511, Berkeley, CA 94702Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%8/24/202720.9  20.9  19.0  0.01 %
Genuine Ventures LLC and Seaweed Ventures LLC(#,^)432 S Franklin St, Juneau, AK 99801Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/24/2030495.8  495.8  491.3  0.15 %
229
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
R & R Strength & Conditioning Corp dba Crossfit Light House Point(#,^)3701 NE 12th St., Pompano Beach, FL 33064Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/23/204279.8  79.8  90.1  0.03 %
Delicias de Minas Restaurant, LLC(#,^)168-170 McWhorter St., Newark, NJ 07105Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/22/2027172.0  172.0  176.3  0.05 %
Damiano Global Corp(#,^)333 Birch Hills Drive, Rochester, NY 14622Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/21/202718.8  18.8  18.6  0.01 %
L&V Auto Sales, Inc.(#,^)1504 West Franklin Blvd., Gastonia, NC 28052Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%8/21/202715.0  15.0  15.7  — %
Tier1 Solutions LLC(#,^)1000 Essington Rd Ste. 109 & 111, Joliet, IL 60435Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/18/202715.7  15.7  14.8  — %
Tony Herring & Associates, Inc(#,^)211 West Camellia Drive, Slidell, LA 70458Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%8/17/20276.3  6.3  5.7  — %
Chester's World Enterprise LLC(#,^)140 W Alameda Drive, Ste 104, Tempe, AZ 85282Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/16/202718.8  18.8  17.9  0.01 %
D'Amato & Sons Construction, Inc.(#,^)117 Oak St., Amityville, NY 11701Specialty Trade ContractorsTerm LoanPrime plus 2.75%8/11/20276.9  6.9  6.6  — %
L & J Corporate Services Inc(#,^)866 NW 110th Ave, Coral Springs, FL 33071Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/4/20276.1  6.1  5.6  — %
Furniture Masters Limited Liability Company(#,^)160 Mount Pleasant Ave, Newark, NJ 07104Repair and MaintenanceTerm LoanPrime plus 2.75%8/3/20277.5  7.5  6.8  — %
HMG Strategy LLC,(#,^)191 Post Rd W., Westport, CT 06880Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/2/202741.3  41.3  37.6  0.01 %
Hope Health Care, LLC(#,^)2945 Main St., Stratford, CT 06614Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%7/31/20278.7  8.7  7.9  — %
Raffi's Inc dba Atlantic Auto Center(#,^)1809 Roane St., Richmond, VA 23222Repair and MaintenanceTerm LoanPrime plus 2.75%7/31/202711.8  11.8  12.3  — %
Royal Blue Investments, Inc. and Cleland Pharmacy LLC(#,^)202 S. 1st St., Wakeeny, KS 67672Health and Personal Care StoresTerm LoanPrime plus 2.75%7/31/204251.1  51.1  57.0  0.02 %
Sharon G McMillen, MA Psychologist, Inc.(#,^)216 West Main St, Kingwood, WV 26537Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%7/28/202715.4  15.4  14.0  — %
HQTRONIC LLC(#,^)10135 S. Roberts Rd Ste 209, Palos Hills, IL 60465Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%7/27/202718.7  18.7  17.0  0.01 %
Oberon IT, Inc.(#,^)1404 W. Walnut Hill Lane, Irving, TX 75038Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/26/2027181.4  181.4  174.7  0.05 %
Gilles Peress Studio LLC(#,^)76 Lafayette Ave, Brooklyn, NY 11217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/25/202753.5  53.5  48.7  0.02 %
Obok LLC(#,^)2720 S. Havana St., Unit H, Aurora, CO 80014Food ManufacturingTerm LoanPrime plus 2.75%7/21/20279.9  9.9  9.7  — %
Lil Tots' Learning Center LLC(#,^)3042 S 78th St, Tampa, FL 33619Social AssistanceTerm LoanPrime plus 2.75%7/21/204228.9  28.9  32.7  0.01 %
Ocean Trans LLC(#,^)760 W. Charter Way, Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%7/21/202732.2  32.2  29.3  0.01 %
230
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Matrix Z LLC(#,^)800 SW 21st Terrace, Fort Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 3.75%7/19/20276.3  6.3  6.7  — %
Aitheras Aviation Group, LLC(OH) , Aitheras Aviation Group, LLC(FL)(#,^)2301 N Marginal Rd, Cleveland, OH 44114Air TransportationTerm LoanPrime plus 2.75%7/18/2027683.6  683.6  626.4  0.19 %
Wildflour Bakery & Cafe, LLC(#,^)5137 Clareton Dr. #100, 110, 120, Agoura Hills, CA 91301Food ManufacturingTerm LoanPrime plus 2.75%7/17/202718.6  18.6  19.4  0.01 %
Koep Companies dba Pipestone True value(#,^)207 East Main St., Pipestone, MN 56164Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%7/14/2042315.0  315.0  335.4  0.10 %
Rocks Auto Exchange LLC(#,^)518 East Main St., Westfield, IN 46074Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%7/13/202710.9  10.9  9.9  — %
McCord Holdings, Inc. dba Fast Signs 176101(#,^)7640 N. Wickham Rd, Melbourne, FL 32940Administrative and Support ServicesTerm LoanPrime plus 2.75%7/7/202715.5  15.5  14.5  — %
Thrifty Market Inc dba Thrifty Foods(#,^)702 10th St., Wheatland, WY 82201Food and Beverage StoresTerm LoanPrime plus 2.75%7/6/202787.8  87.8  83.5  0.03 %
New Chicago Wholesale Bakery Inc.(#,^)795 Touhy Ave, Elk Grove Village, IL 60007Food ManufacturingTerm LoanPrime plus 2.75%6/30/202712.3  12.3  12.7  — %
The Country House Restaurant, LLC and Pelton Real Estate, LLC(#,^)677 US Route 7, Pittsford, VT 05763Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/204248.1  48.1  55.4  0.02 %
J. T. O'Neill Company, L.L.C(#,^)19972 Willowin Farm Lane, Purcellville, VA 20132Real EstateTerm LoanPrime plus 2.75%6/30/202712.3  12.3  12.1  — %
Hamilton & Associates Real Estate and Investments Firm LLC(#,^)11776 West Sample Rd, Coral Springs, FL 33065Real EstateTerm LoanPrime plus 2.75%6/30/204252.1  52.1  59.3  0.02 %
JWH Designs, LLC(#,^)1111 Boston Post Rd, Rye, NY 10580Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/202787.3  87.3  85.4  0.03 %
J&M Civil Construction Services LLC(#,^)1221 County Rd 4371, Decatur, TX 76234Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/30/202779.7  79.7  77.9  0.02 %
Best Bees Company(#,^)839 Albany St., Boston, MA 02119Animal Production and AquacultureTerm LoanPrime plus 2.75%6/29/202718.5  18.5  18.1  0.01 %
Stiegelbauer Associates Inc.(#,^)63 Flushing Ave, #101, Bldg 280, Brooklyn, NY 11205Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/2027253.9  253.9  267.5  0.08 %
Ocean Trans LLC and Dehal Trucking LLC(#,^)760 W. Charter Way, Stockton, CA 95206Truck TransportationTerm LoanPrime plus 2.75%6/29/2027514.4  514.4  502.2  0.16 %
Intellixion LLC(#,^)7447 Egan Dr, Ste 110 A, Savage, MN 55378Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/29/20273.1  3.1  3.0  — %
Malhame & Company Publishers & Importers Inc.(#,^)180 Orville Rd, Bohemia, NY 11780Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/29/202773.9  73.9  72.2  0.02 %
Greensboro Plastic Surgical Associates, PA(#,^)2716 Henry St., Greensboro, NC 27405Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/29/2042557.7  557.7  630.0  0.20 %
Oakhill Farms, LLC(#,^)15 Carl St., Johnston, RI 02919Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/29/203087.9  87.9  94.9  0.03 %
231
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Akal Express Inc. dba Truck Trailer Service Stop(#,^)2901 I 40 West, Vega, TX 79092Repair and MaintenanceTerm LoanPrime plus 2.75%6/28/204257.8  57.8  66.5  0.02 %
Foxhop Fitness, LLC(#,^)4211 NW Federal Hwy, Jensen Beach, FL 34957Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/28/202776.5  76.5  75.2  0.02 %
Old Dominion Transportation Group, Inc.(#,^)1308 Devils Reach Rd, Woodbridge, VA 22192Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%6/28/2027831.8  831.8  823.0  0.26 %
Citibin, Inc.(#,^)254 36th St., Unit 25, Brooklyn, NY 11232Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%6/27/2027102.8  102.8  100.4  0.03 %
Auxiliary Systems Inc.,Sharrick Company, LLC & KMN, LLC(#,^)211 East 25th St., Norfolk, VA 23504Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%6/27/2030215.7  215.7  230.7  0.07 %
WB Cleaners Inc. DBA $2.75 Cleaners(#,^)5101 University Park Way, Winston-Salem, NC 27106Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/27/202713.5  13.5  14.2  — %
Ains Holding Company, LLC(#,^)122 West 26th St., New York, NY 10011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/2027887.7  887.7  878.3  0.27 %
Four Seasons Laser Center Inc.(#,^)4720 NW 2nd Ave Units D-104 - 105, Boca Raton, FL 33498Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/26/2042211.4  211.4  239.4  0.07 %
Rustic LLC(#,^)4779 State Rd AA, Tebbetts, MO 65080Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/23/204215.7  15.7  16.9  0.01 %
Northern Industries, LLC(#,^)W 5585 Dehart Drive, Tomahawk, WI 54484Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/23/204255.6  55.6  64.4  0.02 %
Vella Construction Enterprises, Inc. dba Vella Construction(#,^)318 28th Ave, San Mateo, CA 94403Construction of BuildingsTerm LoanPrime plus 2.75%6/23/202718.5  18.5  18.1  0.01 %
Birches Group, LLC(#,^)228 East 45th St. 12th FL South, New York, NY 10017Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/22/202741.1  41.1  40.1  0.01 %
Scarlet Spartan Inc.dba FastSigns of Brighton(#,^)533 W. Grand River Ave, Brighton, MI 48116Administrative and Support ServicesTerm LoanPrime plus 2.75%6/19/202724.0  24.0  24.0  0.01 %
Don G. Timpton DDS & Associates PA and Indsaad Properties,LLC(#,^)11535 Carmel Cmns Blvd #200, Charlotte, NC 28226Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/16/2042385.8  385.8  429.2  0.13 %
JAM Media Solutions, LLC(#,^)4744 Tackawanna St., Philadelphia, PA 19124Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/15/202726.6  26.6  26.0  0.01 %
All Regional Recyclers of Wood LLC dba ARROW,Superior Carting,LLC dba(#,^)104 Wooster St., Bethel, CT 06801Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/15/2042299.3  299.3  337.1  0.10 %
ESA 365 Corp and Lucathor Realty LLC(#,^)2420 Grand Ave, Baldwin, NY 11520Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/14/204221.7  21.7  24.7  0.01 %
Hull's Kitchen, LLC and HK Too, LLC(#,^)19 Hull Shore Dr, Hull, MA 02045Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/14/204292.8  92.8  107.4  0.03 %
Tele Tax Express Inc., El Rancho Paiso, LLC and Nestor Romero(#,^)577 Main Ave, Paterson, NJ 07055Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/204289.1  89.1  102.2  0.03 %
232
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Susan Hughes dba Aloha Junction B and B(#,^)19-4037 Olapalapa Rd, Volcano, HI 96785AccommodationTerm LoanPrime plus 2.75%6/14/204259.7  59.7  69.2  0.02 %
Yachting Solutions LLC(#,^)229 Commercial St., Rockport, ME 04856Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/12/202797.6  97.6  99.9  0.03 %
Refoleen Inc dba Spice and Tea Exchange(#,^)849 E Commerce St. Ste 121, San Antonio, TX 78205Food and Beverage StoresTerm LoanPrime plus 2.75%6/8/20272.9  2.9  2.8  — %
SCW, LLC dba Arthur Murray Dance Studio(#,^)2383 Old Dixwell Ave, Hamden, CT 06518Educational ServicesTerm LoanPrime plus 2.75%6/2/2042140.6  140.6  159.2  0.05 %
Skydive California, LLC(#,^)25001 S Kasson Rd, Tracy, CA 95301Educational ServicesTerm LoanPrime plus 2.75%6/2/202745.2  45.2  47.6  0.01 %
Speaker City, Inc.and Speaker Town, LLC dba Rollin Thunder(#,^)246 East Belt Boulevard, Richmond, VA 23224Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/1/204244.0  44.0  50.2  0.02 %
Sage Oil LLC(#,^)8913 Egyptian Ave, Las Vegas, NV 89143Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%5/31/202718.3  18.3  18.0  0.01 %
Ricnet III, Inc. dba Edible Arrangements(#,^)716 Foxcroft Ave, Martinsburg, WV 25401Food and Beverage StoresTerm LoanPrime plus 2.75%5/31/202712.3  12.3  12.1  — %
Funtime, LLC and Universal Entertainment Group LLC(#,^)13200 W. Foxfire Dr #144, Surprise, AZ 85387Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/31/202754.0  54.0  53.2  0.02 %
Impact Grounds Maintenance and Design, Inc.dba Impact Landscaping and(#,^)6291 Chittenden Rd, Boston Heights, OH 44236Administrative and Support ServicesTerm LoanPrime plus 2.75%5/31/204276.4  76.4  87.9  0.03 %
Haroon Baig,Inc.dba US1 Petrol(#,^)1280-1290 Dixwell Ave, Hamden, CT 06514Gasoline StationsTerm LoanPrime plus 2.75%5/31/2042253.8  253.8  294.0  0.09 %
Chet Lemon Enterprises LLC dba All American Sports(#,^)1544 Lane Park Cutoff, Tavares, FL 32778Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/26/2042761.9  761.9  882.5  0.27 %
Hurricane Group, Inc.(#,^)312 West Fourth St., Carson City, NV 89703Other Information ServicesTerm LoanPrime plus 2.75%5/26/202761.1  61.1  59.7  0.02 %
Eagle Wood Works LLC(#,^)1448 Horsehead Rd, Lugoff, SC 29078Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%5/26/20279.8  9.8  9.9  — %
Mitchell Auto Repair, LLC and and C&M Mitchell, LLC(#,^)8641 Ashwood Dr, Capital Heights, MD 20743Repair and MaintenanceTerm LoanPrime plus 2.75%5/26/2042190.8  190.8  218.0  0.07 %
Swantown Inn & Spa LLC(#,^)1431 11th Ave SE, Olympia, WI 98501AccommodationTerm LoanPrime plus 2.75%5/26/2042122.2  122.2  141.1  0.04 %
Jung Design Inc.(#,^)10857 Pine Bluff Drive, Fisher, IN 46037Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/25/20277.3  7.3  7.2  — %
Beyond Waves A Unique Salon LLC and Lori Ann Carlson(#,^)2290 Foxon Rd Route 80, North Branford, CT 06471Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/25/202712.2  12.2  12.0  — %
Locavore LLC dba Paloma Restaurant(#,^)401 S. Guadalupe St., Santa Fe, NM 87501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/25/202740.8  40.8  40.6  0.01 %
233
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Abdul Naushad MD PC dba Advanced Pain Centers(#,^)2865 James Boulevard, Poplar Bluff, MO 63901Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/25/2042379.0  379.0  434.6  0.13 %
Innovim, LLC(#,^)6401 Golden Triangle Dr. Ste 200, Greenbelt, MD 20770Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/24/2027275.1  275.1  268.6  0.08 %
Gill Express Inc. and Gill Express 2 LLC(#,^)2372 Walnut Ave, Livingston, CA 95334Repair and MaintenanceTerm LoanPrime plus 2.75%5/23/2042325.7  325.7  367.0  0.11 %
Prestige Construction of Florida, LLC(#,^)1404 Yorktown St. Ste E, Deland, FL 34944Construction of BuildingsTerm LoanPrime plus 2.75%5/23/2042323.4  323.4  361.8  0.11 %
Iron Men Home Repair, Inc. and Ironmen House Lifting Inc.(#,^)132 North Wellwood Ave, Lindenhurst, NY 11757Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/19/2042560.0  560.0  636.9  0.20 %
Hayden Trucking LLC(#,^)11540 Eagle Vista Drive, Fort Worth, TX 76179Truck TransportationTerm LoanPrime plus 2.75%5/19/2027170.5  170.5  174.3  0.05 %
Tres K Deli,Grocery,Fruit and Meat Inc.(#,^)125 West Tremont Ave, Bronx, NY 10453Food and Beverage StoresTerm LoanPrime plus 2.75%5/19/20276.7  6.7  6.8  — %
Waterford Plumbing Co, Inc.(#,^)2425 W. Cuyler Ave, Chicago, IL 60618Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/18/202740.8  40.8  40.2  0.01 %
Mr. B's Bicycles & Mopeds, Inc.(#,^)1870 S. 4th Ave, Yuma, AZ 85364Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%5/18/2042141.1  141.1  160.1  0.05 %
Bay Car Wash LLC(#,^)952 S Commercial St & W Magnolia, Aransas Pass, TX 78336Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/2042116.1  116.1  132.2  0.04 %
Computech Computers Inc.(#,^)40-24 76th St., Office #2B, Elmhurst, NY 11373Educational ServicesTerm LoanPrime plus 2.75%5/17/202740.8  40.8  39.8  0.01 %
5 Stars Learning Center Inc(#,^)14 Paine Ave, Irvington, NJ 07111Social AssistanceTerm LoanPrime plus 2.75%5/16/204259.4  59.4  67.4  0.02 %
Batter & Company,LLC dba Batter Co. Dessert Collection(#,^)1741 N.W. 33rd St., Pompano Beach, FL 33064Food and Beverage StoresTerm LoanPrime plus 2.75%5/16/202743.8  43.8  43.3  0.01 %
Arco Electrical Contractors Inc. dba Arco Construction Group(#,^)22-24 South Seventh St., Elizabeth, NJ 07202Specialty Trade ContractorsTerm LoanPrime plus 2.75%5/16/2027291.2  291.2  294.6  0.09 %
Band Sawn Lumber,LLC and Nathan Ryan Adams(#,^)1873 State Hwy 29, Johnstown, NY 12095Wood Product ManufacturingTerm LoanPrime plus 2.75%5/15/2042110.8  110.8  124.6  0.04 %
Sanderson Distribution Inc.(#,^)100 Daniel Drive, Alamo, CA 94507Truck TransportationTerm LoanPrime plus 2.75%5/12/20278.6  8.6  8.4  — %
SG Linke LLC(#,^)413 N Alfaya Trail P11, Orlando, FL 32828Clothing and Clothing Accessories StoresTerm Loan8.25%5/12/202767.9  67.9  65.9  0.02 %
B G F Bobby Q's Inc(#,^)447 N. Main St., Freeport, NY 11520Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/11/20276.1  6.1  6.4  — %
Estelle Finkel Educational Associates,LLC(#,^)125 West Mt. Pleasant Ave, Livingston, NJ 07039Educational ServicesTerm LoanPrime plus 2.75%5/11/202799.4  99.4  97.0  0.03 %
234
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Labmates,LLC(#,^)141 Watertown Rd, Thomaston, CT 06787Miscellaneous Store RetailersTerm LoanPrime plus 2.75%5/10/202781.5  81.5  84.2  0.03 %
NHS, LLC(#,^)212 N Douglas Ave, Ellsworth, KS 67439Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/9/204221.1  21.1  23.2  0.01 %
Innovation Transport, LLC(#,^)1 International Blvd, Mahwah, NJ 07495Truck TransportationTerm LoanPrime plus 2.75%5/9/202763.6  63.6  65.6  0.02 %
NHS, LLC(#,^)212 N Douglas Ave, Ellsworth, KS 67439Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/9/202772.1  72.1  72.1  0.02 %
Benchmark Building, Inc.(#,^)1439 Stargazer Terrace, Sanford, FL 32771Construction of BuildingsTerm LoanPrime plus 2.75%5/5/202718.3  18.3  17.9  0.01 %
Cable Management LLC(#,^)290 Pratt St., Meriden, CT 06450Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%5/3/202746.7  46.7  47.9  0.01 %
Fine Arts Center of Easley, Inc. dba Midtown Music(#,^)117 S. Pendleton St., Easley, SC 29640Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%5/2/2042113.5  113.5  131.5  0.04 %
Love and Glory Learning Center, Inc.(#,^)4911 N. 42nd St., Tampa, FL 33610Social AssistanceTerm LoanPrime plus 2.75%4/28/204274.9  74.9  84.5  0.03 %
JMA Inc. dba Primecut and Mezzo; Primecut at Marquee(#,^)393 Charles St., Providence, RI 02904Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/2042213.2  213.2  246.9  0.08 %
Sneads Ferry Foods, Inc. dba DQ Grill & Chill(#,^)920 Hwy 210, Sneads Ferry, NC 28460Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/27/2042611.4  611.4  689.0  0.21 %
Asheville's Fun Depot, LLC(#,^)7 Roberts Rd, Asheville, NC 28803Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/26/202770.7  70.7  74.5  0.02 %
Resident Research, LLC(#,^)4400 Morris Park Drive Ste M, Charlotte, NC 28277Other Information ServicesTerm LoanPrime plus 2.75%4/24/202771.8  71.8  70.2  0.02 %
Getting Even LLC dba The Zoo Health Club(#,^)377 South Willow St., Ste B 2-1, Manchester, NH 03103Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/21/20276.1  6.1  6.0  — %
Ralph's Hair Salon, Inc.(#,^)175 NW 14th St., Homestead, FL 33030Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/21/204248.0  48.0  54.8  0.02 %
Condron Brothers LLC DBA Luv 2 Play(#,^)4790 La Sierra Ave, Riverside, CA 92505Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/19/202796.6  96.6  96.9  0.03 %
Butternuts Beer and Ale LLC(#,^)4021 Hwy 51, Garrattsville, NY 13342Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%4/12/202759.6  59.6  62.8  0.02 %
Landmark Ventures USA, Inc.(#,^)475 Park Ave South 25th Fl, New York, NY 10016Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/31/2027150.5  150.5  146.9  0.05 %
Golden Hen Inc. dba Cafe(#,^)468 W. Cheltenham Ave, Philadelphia, PA 19126Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/31/202752.0  52.0  51.1  0.02 %
Applied Integrated Technologies, Inc.(#,^)7120 Samuel Morse Drive #150, Columbia, MD 21046Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/31/2027100.4  100.4  98.0  0.03 %
235
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Bear Trail Lodge LLC(#,^)Mile 1 Bear Trail Rd, King Salmon, AK 99613Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/31/2042531.0  531.0  613.1  0.19 %
Citizens Lanes, LLC(#,^)5100 Goodson Connector Rd, Union City, GA 30291Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/31/2042607.2  607.2  703.3  0.22 %
The Altitude Group, LLC and Core Home Security, LLC(#,^)949 Clint Moore Rd, Unit 949A, Boca Raton, FL 33487Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/31/202735.5  35.5  34.7  0.01 %
Schafer Fisheries Inc.(#,^)21985 Waller Rd, Fulton, IL 61252Food ManufacturingTerm LoanPrime plus 2.75%3/30/2042238.6  238.6  276.4  0.09 %
KWG Industries LLC dba Peterson & Marsh Metal Industries(#,^)330 Roycefield Rd, Unit B, Hillsborough, NJ 08844Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/30/202724.1  24.1  25.2  0.01 %
Sea Smoke Barbeque, Corp and Danwen LLC(#,^)20 Island Farm Rd, Oak Bluffs, MA 02557Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/2042227.2  227.2  258.5  0.08 %
Gauri Hospitality Group LLC dba Microtel Inns & Suites by Wyndham(#,^)1221 Kentucky Mills Drive, Louisville, KY 40299AccommodationTerm LoanPrime plus 2.75%3/29/20421,015.1  1,015.1  1,174.2  0.36 %
H and H Hotshot Services, Inc. dba AA Hotshot & Logistics(#,^)5455 N 51st St., #30, Glendale, AZ 85301Couriers and MessengersTerm LoanPrime plus 2.75%3/29/203084.5  84.5  84.3  0.03 %
Douglas K. Soderblom . dba Loma Linda Optometry(#,^)25815 Barton Rd, Unit C104, Loma Linda, CA 92354Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/29/202780.3  80.3  80.4  0.02 %
Discount Price, LLC dba Robert's Market(#,^)2 Hill Rd, Franklin, NH 03235Gasoline StationsTerm LoanPrime plus 2.75%3/29/2042198.2  198.2  226.4  0.07 %
New England Country Day School, Inc. and Thomas D. Walker(#,^)27 Kenosia Ave, Danbury, CT 06810Social AssistanceTerm LoanPrime plus 2.75%3/28/2042362.6  362.6  411.6  0.13 %
Heil & Hornik LLC dba Elysium Tennis(#,^)7637 C. Commerce Place, Plain City, OH 43064Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/27/2042893.0  893.0  1,012.2  0.31 %
Pecos Entertainment LLC dba State Theater and Pecos Inn LLC(#,^)421 S. Oak St., Pecos, TX 79772Motion Picture and Sound Recording IndustriesTerm LoanPrime plus 2.75%3/27/2042394.3  394.3  456.7  0.14 %
Robert Dixon PA dba Law Offices of Robert Dixon(#,^)4501 NW 2nd Ave, Miami, FL 33127Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/24/2042409.6  409.6  473.4  0.15 %
Denton Bio Fuels LLC and American Bio Source LLC(#,^)624 W. University Dr. Ste 359, TX, TX 76201Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%3/23/202745.7  45.7  46.1  0.01 %
Color Graphic Press, Inc.(#,^)42 Main St., Nyack, NY 10960Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%3/23/202796.3  96.3  101.3  0.03 %
JBK Truck Trailer and Bus Inc.(#,^)8669 South State Rd 67, Camby, IN 46113Repair and MaintenanceTerm LoanPrime plus 2.75%3/23/204285.2  85.2  96.5  0.03 %
Executive Fitness & Nutrition Inc.(#,^)8610 Roosevelt Ave Ste 2, Jackson Heights, NY 11372Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/23/202716.4  16.4  17.2  0.01 %
Baton Rouge Cargo Services Inc. and 6507 Westport, LLC(#,^)6507 Westport Ave, Shreveport, LA 71129Truck TransportationTerm LoanPrime plus 2.75%3/22/2042618.0  618.0  708.6  0.22 %
236
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Vehicle Safety Supply LLC(#,^)707 Femimore Rd, Mamaroneck, NY 10543Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/21/202718.1  18.1  17.6  0.01 %
J Sivilis LLC dba Pet Wants(#,^)3883 Catalina Dr, Cocoa, FL 32926Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/17/20273.9  3.9  3.9  — %
Reservoir International LLC(#,^)502 Parks McMillan Drive, Raeford, NC 28376Educational ServicesTerm LoanPrime plus 2.75%3/16/202779.8  79.8  81.1  0.03 %
The Purple Cow House of Pancake Inc(#,^)6 & 10 Skowhegan Rd, Fairfield, ME 04937Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/16/2042154.4  154.4  178.6  0.06 %
Texcor, Inc.dba Texas Corral,Texas Coral Restaurants II, Inc. T.C.(#,^)5880 US Hwy6, Portage, IN 46368Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/16/2027241.4  241.4  253.9  0.08 %
1MTX LLC and Sunrise Transportation and Logistics, LLC and Mustafa(#,^)6510 North Broadway, Saint Louis, MO 63147Truck TransportationTerm LoanPrime plus 2.75%3/13/2027543.7  543.7  529.9  0.16 %
Dwayne Bernard Tate(#,^)1238 Woodcliff Court SW, Lilburn, GA 30047Truck TransportationTerm LoanPrime plus 2.75%3/10/20278.4  8.4  8.5  — %
Elegant Occasions, LLC dba E Productions(#,^)3650 Coral Ridge Drive Units 103-104, Coral Springs, FL 33065Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/10/2042565.7  565.7  641.9  0.20 %
E & P Holdings 1 LLC and Evans & Paul Unlimited Corp. and Evans(#,^)140 Dupont St., Plainview, NY 11803Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%3/9/2027100.2  100.2  98.9  0.03 %
Anthony LLC dba Star of Woodward Market(#,^)5730 Woodward Ave, Detroit, MI 48202Food and Beverage StoresTerm LoanPrime plus 2.75%3/9/2042110.9  110.9  128.3  0.04 %
Allegro Assisted Living Of Texas(#,^)3400 Remington Drive, Plano, TX 75023Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%3/6/202777.0  77.0  81.0  0.03 %
Podium Auto Sales Inc and RRS Property, LLC(#,^)246 S Dixie Hwy, Pompano Beach, FL 33060Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/3/204287.2  87.2  98.6  0.03 %
Getting Even LLC dba The Zoo Health Club(#,^)377 S Willow St. Unit B2-1, Manchester, NH 03103Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/28/202776.6  76.6  76.3  0.02 %
SSI Refrigerated Express Inc. and Robert M Stallone dba SSI Express(#,^)1001 E. Cooley Drive Ste 102, Colton, CA 92324Truck TransportationTerm LoanPrime plus 2.75%2/28/2027182.3  182.3  177.6  0.06 %
Weeping Willow Kennels, Inc and Aileen N Black(#,^)6041 Hammond School Rd, Salisbury, MD 21804Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2042134.4  134.4  153.4  0.05 %
Teracore Inc.(#,^)3300 Holcomb Bridge Rd Ste 226, Norcross, GA 30092Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/27/2027130.2  130.2  126.9  0.04 %
McNally Enterprises Inc.(#,^)1010 N. Grove St., Anaheim, CA 92806Administrative and Support ServicesTerm LoanPrime plus 2.75%2/27/202751.2  51.2  51.0  0.02 %
Total Document Solutions Inc and,TDS Services, LLC(#,^)2515 North Shiloh Drive, Fayetteville, AR 72704Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%2/27/2030268.7  268.7  276.3  0.09 %
TMJ Pizza Mesa LLC dba Rosati's Pizza Restaurant(#,^)2235 S. Power Rd Ste 118, Mesa, AZ 85209Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/24/202759.8  59.8  62.1  0.02 %
237
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
3W Enterprises LLC(#,^)2727 Industrial Parkway, Elkhart, IN 46516Textile Product MillsTerm LoanPrime plus 2.75%2/24/204262.8  62.8  72.1  0.02 %
B & J Bicycle Shop Inc.(#,^)1620 E. Sample Rd, Pompano Beach, FL 33064Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%2/24/20275.3  5.3  5.6  — %
DER Services, LLC dba A.K.A. Sports(#,^)34904 W. B. Michigan Ave, Wayne, MI 48184Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%2/17/204238.4  38.4  44.5  0.01 %
Ameritube, LLC and Ravone Properties, LLC(#,^)1000 N State Hwy 77, Hillsboro, TX 76645Primary Metal ManufacturingTerm LoanPrime plus 2.75%2/14/2042177.8  177.8  205.7  0.06 %
Baton Rouge Cargo Services Inc. and 2808 Court Street, LLC(#,^)2808 Court St., Port Allen, LA 70767Truck TransportationTerm LoanPrime plus 2.75%2/10/2042237.5  237.5  272.3  0.08 %
Maximo Canot dba Wash and Dry Laundrymat(#,^)34 Morningside Ave, Yonkers, NY 10703Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/10/2042132.1  132.1  151.7  0.05 %
Sushiya Inc.(#,^)72 S. Main St, Hanover, NH 03755Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/10/202714.9  14.9  14.8  — %
Marvic Enterprises Inc dba Jordan's Liquor(#,^)199 Taunton Ave, East Providence, RI 02914Food and Beverage StoresTerm LoanPrime plus 2.75%2/10/2042210.2  210.2  240.3  0.07 %
Harrison Logging Company LLC(#,^)255 Ray Crain Rd, Indian Mound, TN 37079Forestry and LoggingTerm LoanPrime plus 2.75%2/9/202784.5  84.5  84.8  0.03 %
8 Minute Oil Change Auto Repair & Tire Center and Jumir L.L.C.(#,^)174-176 Mountain Ave, Springfield, NJ 07081Repair and MaintenanceTerm LoanPrime plus 2.75%2/7/2042315.7  315.7  355.0  0.11 %
DBMS Consulting, Inc.(#,^)164 W 83rd St. #CF1 & CF2, New York, NY 10024Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/1/2042177.5  177.5  199.7  0.06 %
Brandco, LLC(#,^)2151 Consulate Drive Ste 21, Orlando, FL 32837Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/31/202734.5  34.5  33.6  0.01 %
Chidlren's House Learning, Inc and Tarps Investment Group(#,^)720 Wilbraham Rd, Springfield, MA 01109Social AssistanceTerm LoanPrime plus 2.75%1/31/2042308.0  308.0  349.3  0.11 %
Fave Realty Inc.(#,^)1875 Grand Ave, Baldwin, NY 11510Real EstateTerm LoanPrime plus 2.75%1/30/204252.2  52.2  59.5  0.02 %
SRC Publishing LLC(#,^)8690 Waterford Bend St., Las Vegas, NV 89123Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%1/27/202717.7  17.7  17.3  0.01 %
ZMKNY Tires Inc dba Houston International Tires(#,^)12444 Market ST, Houston, TX 77015Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%1/27/2042103.2  103.2  119.4  0.04 %
House of Bread & Coffee Corp dba Casa Do Pao(#,^)22829 State Rd 7, Boca Raton, FL 33428Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/27/2042167.2  167.2  185.7  0.06 %
Fox Valley Rentals & Investments LLC and Brian M Tomaszewski(#,^)2906 E. Newberry St., Appleton, WI 54915Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/20/204240.7  40.7  46.1  0.01 %
238
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Jolibe LLC and Jolibe Atelier LLC(#,^)325 West 38th St. Studio 1704-1706, New York, NY 10018Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/18/20278.3  8.3  8.2  — %
Eickmann Management Group LLC dba Jimmy Johns of Dundee(#,^)568 Techumseh St., Dundee, MI 48131Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/17/202778.5  78.5  82.3  0.03 %
Fullbro Trust dba Menemsha Blues(#,^)2 Basin Rd, Chilmark, MA 02535Miscellaneous Store RetailersTerm LoanPrime plus 2.75%1/13/202717.8  17.8  18.7  0.01 %
Echelon Enterprises, Inc(#,^)16701 E. Iliff Ave, Aurora, CO 80013Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%1/10/202738.6  38.6  40.6  0.01 %
Fort Smith Wings Inc. dba Wing Stop(#,^)8624 Rogers Ave, Fort Smith, AR 72903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/28/202615.2  15.2  15.2  — %
Jacliff Investments Inc. dba International health Technologies(#,^)2355 South 1070 West, Salt Lake City, UT 84119Publishing Industries (except Internet)Term LoanPrime plus 2.75%12/23/202697.6  97.6  95.0  0.03 %
Metropolitan Solutions Group Inc.(#,^)1420 Chestnut St., Portsmouth, VA 23704Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/19/2041262.8  262.8  292.4  0.09 %
Means Enterprises LLC dba FastFrame Frisco(#,^)4112-4150 Legacy Dr./5729 Leabanon Rd #412, Frisco, TX 75034Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/16/202617.6  17.6  17.2  0.01 %
Soon Im. Chin dba Stan C-Store(#,^)4014 E Stan Schlueter Loop, Killeen, TX 76542Gasoline StationsTerm LoanPrime plus 2.75%12/15/2041203.1  203.1  233.4  0.07 %
Elita 7, LLC(#,^)16 Marble St., Worcester, MA 01603Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%12/15/2041680.9  680.9  777.5  0.24 %
Techni-Pro Institute LLC(#,^)414 NW 35th St., Boca Raton, FL 33431Educational ServicesTerm LoanPrime plus 2.75%12/15/2026148.3  148.3  146.6  0.05 %
New Chicago Wholesale Bakery, Inc.(#,^)795 Touhy Ave, Elk Grove Village, IL 60007Food ManufacturingTerm LoanPrime plus 2.75%12/15/2041433.2  433.2  487.7  0.15 %
Sempco, Inc.(#,^)51-55 Lake St. Unit #2-6, Nashua, NH 03060Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/15/204140.1  40.1  46.4  0.01 %
HMG Strategy, LLC(#,^)191 Post Rd West, Westport, CT 06880Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/14/202638.6  38.6  37.5  0.01 %
Trison Enterprises Inc.dba Lee's Automotive(#,^)13281 Aurora Ave N, Seattle, WA 98311Repair and MaintenanceTerm LoanPrime plus 2.75%12/14/2041389.4  389.4  443.0  0.14 %
AGG Management Team LLC dba Chevron(#,^)2615 S Dixie Hwy, West Palm Beach, FL 33401Gasoline StationsTerm LoanPrime plus 2.75%12/14/2041274.8  274.8  317.4  0.10 %
Wayfarer Bicycle LLC(#,^)118-120 Ocean Ave, New London, CT 06320Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%12/13/204188.4  88.4  98.9  0.03 %
Success Advertising Inc. dba Success Communivstion(#,^)26 Eastmans Rd, Parsippany, NJ 07054Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/13/2041445.8  445.8  512.9  0.16 %
Roast Beef Levittown LLC dba Arby's(#,^)2080 Hempstead Turnpike, East Meadow, NY 11554Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/13/2026165.9  165.9  174.1  0.05 %
239
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Myndshft Technologies LLC(#,^)3440 Gannett Ave, Des Moines, IA 50321Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/9/2026605.4  605.4  602.3  0.19 %
Recycling Revolution,LLC(#,^)4190 Collins Rd, Unadilla, GA 31091Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/9/204188.7  88.7  100.1  0.03 %
Mack Team Enterprises Inc.dba The UPS Store #6815(#,^)38200 Ave of the States, Fort Gordon, GA 30905Couriers and MessengersTerm LoanPrime plus 2.75%12/9/202615.9  15.9  15.9  — %
Imagine By Carleen Inc.(#,^)1404 Del Prado Blvd. #100, 105, Cape Coral, FL 33990Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/8/204150.2  50.2  56.9  0.02 %
Hanson's Greeks LLC(#,^)8132 N. 87th Place, Ste A, Scottsdale, AZ 85258Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/8/20268.8  8.8  9.2  — %
New Life Hospital LLC(#,^)17400 Red Oak Drive, Houston, TX 77090HospitalsTerm LoanPrime plus 2.75%12/8/20411,166.4  1,166.4  1,347.6  0.42 %
Yachting Solutions LLC(#,^)229 Commercial St., Rockport, ME 04856Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%12/7/202960.7  60.7  63.2  0.02 %
Lilo Holdings LLC(#,^)933 Port Reading Ave, Port Reading, NJ 07064Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/5/202612.6  12.6  12.7  — %
Noso Development LLC(#,^)4 Walker Way, Albany, NY 12205Construction of BuildingsTerm LoanPrime plus 2.75%12/1/202658.6  58.6  57.0  0.02 %
Quick Ship, LLC(#,^)448 W. 19th St, Houston, TX 77008Couriers and MessengersTerm LoanPrime plus 2.75%11/30/20268.1  8.1  7.9  — %
Sharaz Shah DBA Thomas Jewelers(#,^)714 Greenville Blvd, Ste 0043, Greenville, NC 27858Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%11/30/20266.3  6.3  6.1  — %
Studio Find It Georgia, Inc.(#,^)1415 Constitution Rd SE, Atlanta, GA 30316Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/30/20265.8  5.8  5.7  — %
RD Management, LLC(#,^)2302 N. Kings Hwy, Myrtle Beach, SC 29572Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/30/2026165.4  165.4  161.9  0.05 %
Imaginarium Foods LLC,(#,^)751 N. Cable Rd, Lima, OH 45805Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2042358.5  358.5  409.0  0.13 %
Pebble Wood Lane, LLC and Good Sam's Assisted Living Resiidence,LLC(#,^)1 Pebble Wood Lane, Palm Coast, FL 32164Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%11/30/204164.7  64.7  74.8  0.02 %
Usman Jalil, LLC dba Food Mart(#,^)147 N Washington St., Plainville, CT 06062Gasoline StationsTerm LoanPrime plus 2.75%11/29/2041223.9  223.9  250.0  0.08 %
Access Staffing, LLC(#,^)360 Lexington Ave 8th Fl, New York, NY 10017Administrative and Support ServicesTerm LoanPrime plus 2.75%11/29/2026914.3  914.3  889.1  0.28 %
CRK Mens, LLC dba Spiff for Men(#,^)750 Third Ave, New York, NY 10017Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/23/202684.6  84.6  83.2  0.03 %
Hafa Adai Signs and Graphics LLC dba Fastsigns of Auburn -#281901(#,^)1835 Auburn Way N Ste B, Auburn, WA 98002Administrative and Support ServicesTerm LoanPrime plus 2.75%11/23/202646.4  46.4  45.5  0.01 %
WPN Recycling Company LLC(#,^)5101 Andard Ave, Baltimore, MD 21226Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%11/23/202617.4  17.4  18.3  0.01 %
240
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Merchant Coterie, Inc.(#,^)400 East 52nd St. Apt 14F, New York, NY 10022Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%11/23/202696.7  96.7  94.1  0.03 %
Bouquet Restaurant LLC(#,^)519 Main St., Covington, KY 41011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/22/204192.8  92.8  107.0  0.03 %
JBK Truck Trailer and Bus Inc.(#,^)8669 S State Rd 67, Camby, IN 46113Repair and MaintenanceTerm LoanPrime plus 2.75%11/22/2041396.2  396.2  449.0  0.14 %
6E Technologies LLC(#,^)11001 West 120th Ave, Ste 400, Broomfield, CO 80020Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/22/2026122.4  122.4  124.5  0.04 %
Broms Asset Management LLC(#,^)215 East 79th St. Apt 9E, New York, NY 10075Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%11/22/202696.6  96.6  93.9  0.03 %
Skaggs RV Outlet LLC(#,^)301 Commerce Drive, Elizabethtown, KY 42701Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%11/21/202677.4  77.4  81.2  0.03 %
Catherine Christine Morin dba Purr-Fect Pets(#,^)1915 North Austin Ave, Georgetown, TX 78626Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/17/202614.5  14.5  14.1  — %
Stratmar Systems Inc dba Stratmar Retail Services(#,^)109 Willett Ave, Port Chester, NY 10573Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/16/202653.0  53.0  55.6  0.02 %
Hoosier Health Plus, LLC(#,^)520 East 8th St., Anderson, IN 46012Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/15/202691.7  91.7  94.3  0.03 %
J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value(#,^)640 Dubois St., Du Bois, PA 15801Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/10/2026170.5  170.5  177.7  0.06 %
J. A. Kohlhepp Sons, Inc. dba Kohlhepp's True Value(#,^)640 Dubois St., Dubois, PA 15801Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/10/2041438.5  438.5  500.8  0.16 %
Panther Ironworks and Rigging Solutions LLC(#,^)1028 Washburn Switch Rd, Shelby, NC 28150Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/10/2026123.0  123.0  124.1  0.04 %
Hackensack Steel Corporation and Luzerne Ironworks Inc(#,^)300 Sly St., Swoyersville, PA 18709Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/10/2026191.0  191.0  200.4  0.06 %
Big Apple Entertainment Partners LLC(#,^)1221 Brickell Ave, Ste 2660, Miami, FL 33131Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/9/2026135.4  135.4  131.7  0.04 %
Dyer Properties, LLC and Bayview Pharmacy, Inc.(#,^)3844 Post Rd, Warwick, RI 02886Health and Personal Care StoresTerm LoanPrime plus 2.75%11/9/2041229.1  229.1  258.0  0.08 %
MIK LLC dba Firehouse Subs(#,^)17250 Royalton Rd, Strongsville, OH 44136Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/9/2026168.8  168.8  165.2  0.05 %
Fine Line Interiors, Inc.(#,^)2530 SW 30th Ave, Hallandale Beach, FL 33009Repair and MaintenanceTerm LoanPrime plus 2.75%11/4/204163.5  63.5  73.4  0.02 %
131 Miles LLC and Ohm Shubh Laxmi, LLC. dba Mr Hero(#,^)13215 Miles Ave, Cleveland, OH 44105Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/3/2041120.6  120.6  137.9  0.04 %
Veracruz Shabo, LLC, Waterfalls Quick Lube LLC(#,^)1325 Broad St., Central Falls, RI 02863Repair and MaintenanceTerm LoanPrime plus 2.75%11/1/2041115.6  115.6  132.0  0.04 %
241
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Glocecol LLC(#,^)10302 NW S River Drive, Bay #18, Miami, FL 33178Administrative and Support ServicesTerm LoanPrime plus 2.75%11/1/202658.0  58.0  60.9  0.02 %
Bloomquist Communications Inc.(#,^)131 East Trinity Place, Decatur, GA 30030Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/202646.0  46.0  44.7  0.01 %
Moolchan Enterprises LLC dba Staying Green(#,^)5370 State Rd 84 Bay 3, Davie, FL 33314Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/20268.4  8.4  8.8  — %
Woodstock Enterprises Corp dba True Scent Candle Co(#,^)191 2nd Ave, Warwick, RI 02888Miscellaneous ManufacturingTerm LoanPrime plus 2.75%10/31/204184.6  84.6  94.7  0.03 %
FibAire Communications, LLC(#,^)13590 S Sunland Gin Rd, #E, Arizona City, AZ 85123TelecommunicationsTerm LoanPrime plus 2.75%10/27/202682.6  82.6  83.5  0.03 %
Elite Structures Inc(#,^)401 Old Quitman Rd, Abel, GA 31620Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/27/2029191.3  191.3  202.5  0.06 %
Blakeslee Arpaia Chapman Inc and Chapman Construction Services LLC(#,^)200 North Branford Rd, Branford, CT 06405Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%10/24/2026325.7  325.7  341.8  0.11 %
Worldwide Estate, Inc. dba Washington Heights Manor(#,^)10620 W. Greenwood Ter, Milwaukee, WI 53224Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%10/21/2041213.9  213.9  247.1  0.08 %
Gold Wind Logistics LLC(#,^)2830 Beech Daly Rd, Inkster, MI 48141Truck TransportationTerm LoanPrime plus 2.75%10/20/2041167.2  167.2  193.2  0.06 %
Speaker City, Inc. dba Rollin Thunder(#,^)246 East Belt Boulevard, Richmond, VA 23224Electronics and Appliance StoresTerm LoanPrime plus 2.75%10/14/2041119.2  119.2  136.0  0.04 %
Maine Service Corp(#,^)59-22 55th St., Maspeth, NY 11378Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%10/13/2026126.1  126.1  130.6  0.04 %
Justin Partlow(#,^)100 Independence Place, Ste 414, Tyler, TX 75703Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%10/13/202614.9  14.9  14.5  — %
Reliable Recovery Services LLC(#,^)2401 West Mcdowell Rd, Phoenix, AZ 85009Support Activities for TransportationTerm LoanPrime plus 2.75%10/7/202686.2  86.2  86.8  0.03 %
Wyspen Corporation dba Charlestown Ace(#,^)5 Austin St., Charlestown, MA 02129Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%10/3/202627.6  27.6  26.8  0.01 %
Ailky Corporation(#,^)352 Beford St., Lakeville, MA 02347Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%10/3/2026181.6  181.6  179.3  0.06 %
Adelwerth Bus Corp.(#,^)423 Montauk Hwy, Eastport, NY 11941Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/30/2041230.3  230.3  259.7  0.08 %
JJA Transportation Management Inc.(#,^)15 Church St., Upland, PA 19015Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/30/202639.8  39.8  38.7  0.01 %
Seaway LLC and Reklaw LLC dba Allure Lounge(#,^)415 -417 Halsey Drive, Newark, NJ 07102Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2041130.4  130.4  150.6  0.05 %
Adelwerth Bus Corporation, Transportation Leasing Corp.(#,^)423 Montauk Hwy, Eastport, NY 11941Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/30/2029545.1  545.1  574.0  0.18 %
242
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Graphics,Type and Color Enterprises Inc dba Clubflyers.com(#,^)2300 NW 7th Ave, Miami, FL 33127Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%9/28/2041821.5  821.5  949.1  0.29 %
Beadon Inc(#,^)2601 Old Ocean City Rd, Salisbury, MD 21804Food and Beverage StoresTerm LoanPrime plus 2.75%9/28/202617.0  17.0  17.8  0.01 %
CD Game Exchange Inc.(#,^)3719 N Mississippi, Portland, OR 97227Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/28/202617.5  17.5  17.0  0.01 %
Kyle M Walker DDS, PC(#,^)1402 West Park Ave, Orange, TX 77630Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/27/2026175.0  175.0  172.6  0.05 %
Reynolds Fence & Guardrail Inc.(#,^)9320 Machado Drive, Indian Trail, NC 28079Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/27/2026476.8  476.8  491.8  0.15 %
Luv 2 Play Nor Cal, LLC dba Luv 2 Play(#,^)82 Clarksville Rd, Folsom, CA 95630Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/27/202639.9  39.9  39.7  0.01 %
Sarah S Olelewe MD Inc(#,^)11704 &11712 Hawthorne Blvd, Hawthorne, CA 90250Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/26/2041277.5  277.5  314.8  0.10 %
TPFC,LLC dbaThe Picture Frame Company(#,^)5957 Glenway Ave, Cincinnati, OH 45238Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/26/204155.7  55.7  63.3  0.02 %
Ridge Road Equestrian LLC dba Ricochet Ridge Ranch(#,^)24201 N Hwy 1, Fort Bragg, CA 95437Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%9/26/20266.8  6.8  7.1  — %
PeopleBest Inc.(#,^)19442 Mesa Drive, Villa Park, CA 92861Administrative and Support ServicesTerm LoanPrime plus 2.75%9/26/202611.4  11.4  11.0  — %
Wrecking Crew Media LLC(#,^)229 Commercial Ave, Pittsburgh, PA 15212Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%9/21/202637.9  37.9  36.8  0.01 %
Cuppiecakes LLC(#,^)313 S Main St., McGregor, TX 76557Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/21/204121.3  21.3  24.1  0.01 %
Consulting Solutions Inc. and Mark Luciani(#,^)3000 N Federal Hwy 1-1A, Fort Lauderdale, FL 33306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/20/202617.1  17.1  17.5  0.01 %
Benoit's Towing and Recovery LLC(#,^)301 Tabor Rd, Swanton, VT 05488Support Activities for TransportationTerm LoanPrime plus 2.75%9/20/20269.1  9.1  8.9  — %
Atlantic Alarm Systems and Services LLC(#,^)165 Amboy Rd, Bldg G, Ste 703, Morganville, NJ 07734Administrative and Support ServicesTerm LoanPrime plus 2.75%9/14/202611.7  11.7  11.6  — %
Marquis Cattle Company(#,^)805 US Hwy 87, Belt, MT 59412Animal Production and AquacultureTerm LoanPrime plus 2.75%9/13/202638.2  38.2  40.1  0.01 %
Metropet Dog Center, Inc(#,^)2057 West Shore Rd, Warwick, RI 02889Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/13/2041103.6  103.6  118.0  0.04 %
Bingham Enterprises, Inc and Full Belli Deli and Sausage Company(#,^)209 South Front St., Townsend, MT 59644Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/12/204178.2  78.2  87.7  0.03 %
SRA Mechanicial Inc(#,^)1186 Ocean Ave, Bayshore, NY 11706Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/6/204141.3  41.3  47.7  0.01 %
Sandia Enterprises Inc dba Massage Envy Spa(#,^)9139 W Stockton Blvd Ste 100, Elk Grove, CA 95758Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/6/202632.2  32.2  31.2  0.01 %
243
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Animal Intrusion Prevention Systems Holding Company, LLC(#,^)1362-1366 W Carrier Pkwy, Grand Prairie, TX 75050Administrative and Support ServicesTerm LoanPrime plus 2.75%8/30/202698.7  98.7  97.2  0.03 %
Raem Corporation dba Dryclean Express(#,^)557 West Whitney Rd, Fairport, NY 14450Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/29/204168.6  68.6  79.0  0.02 %
Warren Dale Warrington dba Custom Paint and Body(#,^)705 S Market Ave, Fort Pierce, FL 34982Repair and MaintenanceTerm LoanPrime plus 2.75%8/26/204195.8  95.8  109.5  0.03 %
Albert Basse Associates Inc(#,^)175 Campanelli Parkway, Stoughton, MA 02072Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%8/25/202646.3  46.3  48.5  0.02 %
Avery Management Inc. dba Whetstone Upholstery(#,^)1122 N Bloulevard, Richmond, VA 23230Repair and MaintenanceTerm LoanPrime plus 2.75%8/25/20267.7  7.7  7.4  — %
Tabadesa Associates Inc.(#,^)419 W 49th St. Ste 111, Hialeah, FL 33012Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/25/202616.9  16.9  16.4  0.01 %
TR Companies LLC dba Liberty Rental 4 U(#,^)410 N Church Rd, Liberty, MO 64068Rental and Leasing ServicesTerm LoanPrime plus 2.75%8/25/202667.5  67.5  65.5  0.02 %
Rosmel Pools Inc(#,^)9300 NW 25th St. Ste 103, Miami, FL 33172Repair and MaintenanceTerm LoanPrime plus 2.75%8/25/202616.9  16.9  16.6  0.01 %
Sambella Holdings, LLC and Strike Zone Entertainment Center LLC(#,^)726-740 South Fleming St., Sebastian, FL 32958Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/24/2041492.0  492.0  566.5  0.18 %
Luv 2 Play Temecula, LLC(#,^)26469 Ynez Rd, Temecula, CA 92591Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%8/15/202645.0  45.0  43.7  0.01 %
2 Cool Beans LLC dba Menchies's Frozen Yogurt(#,^)11331 Thienes Ave, South El Monte, CA 91733Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/11/202661.9  61.9  60.0  0.02 %
Grayson O Company(#,^)6509 Newell Ave, Kannapolis, NC 28082Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%8/10/2041591.7  591.7  682.2  0.21 %
Paul Belanger dba Paul Belanger Landscaping(#,^)2595 Military Ave, Los Angeles, CA 90064Administrative and Support ServicesTerm LoanPrime plus 2.75%8/9/202611.2  11.2  10.9  — %
The Hungry Rhino LLC(#,^)47 South Main St., Windsor Locks, CT 06096Real EstateTerm LoanPrime plus 2.75%7/29/204172.1  72.1  81.5  0.03 %
USA General Investment LLC dba Braniff Paint and Body Shop(#,^)2290 NW 21st Terrace, Miami, FL 33142Repair and MaintenanceTerm LoanPrime plus 2.75%7/29/202616.7  16.7  16.5  0.01 %
303 Tower Drive LLC(#,^)303 Tower Drive, Ste A, Middletown, NY 10941Repair and MaintenanceTerm LoanPrime plus 2.75%7/29/2041378.2  378.2  433.2  0.13 %
Little Tree Huggers Child Care LLC(#,^)38620 9 Mile Rd, Farmington Hills, MI 48335Social AssistanceTerm LoanPrime plus 2.75%7/29/2041132.3  132.3  152.6  0.05 %
Big Apple Entertainment Partners LLC dba Ripley's Believe It or Not(#,^)1221 Brickell Ave, Ste 2660, Miami, FL 33131Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/28/2026222.8  222.8  216.2  0.07 %
676 Club LP dba The Green Door Tavern/The Drifter(#,^)676 and 678 North Orleans ST, Chicago, IL 60654Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/28/2041633.1  633.1  728.1  0.23 %
Intrepid Trinity LLC(#,^)680 Douglas Ave, Providence, RI 02908Nonstore RetailersTerm LoanPrime plus 2.75%7/28/204159.1  59.1  67.3  0.02 %
244
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Apple Tree NC Inc dba Williams Farm & Garden Center(#,^)1309 Old Cherry Point Rd, New Bern, NC 28560Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%7/28/2041321.7  321.7  362.4  0.11 %
EPEC Juice LLC dba Jamba Juice(#,^)810 Ninth St., Ste 128, Durham, NC 27705Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/27/202662.0  62.0  60.2  0.02 %
Pinco Pizza LLC dba Jet's Pizza(#,^)10845 N. Tatum Blvd Ste A 100, Phoenix, AZ 85028Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/27/202654.7  54.7  57.3  0.02 %
JAG Unit 1, LLC dba Arooga's Grille House and Sports Bar(#,^)1 West Main St., Patchogue, NY 11772Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/27/202692.8  92.8  90.1  0.03 %
The Grasso Companies, LLC and Grasso Pavement Maintenance, LLC(#,^)485 Pepper St., Norwalk, CT 06468Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%7/26/202667.3  67.3  67.8  0.02 %
My Sainath Inc dba Motel 6(#,^)1008 E Crest Drive, Waco, TX 76705AccommodationTerm LoanPrime plus 2.75%7/22/2041288.6  288.6  330.9  0.10 %
Robert G Larson State Farm Insurance(#,^)7922 Jamaica Ave, Woodhaven, NY 11421Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/22/202616.7  16.7  16.2  0.01 %
J and D Resources LLC dba Aqua Science(#,^)1923 E 5th St, Tempe, AZ 85281Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/19/202687.6  87.6  85.6  0.03 %
Robert P Daniels dba Ginger and Friend's Peppermint Village Gift Shop(#,^)1502 Hwy 157, Mansfield, TX 76063Miscellaneous Store RetailersTerm LoanPrime plus 2.75%7/18/202611.7  11.7  11.3  — %
Franklin Firm LLC dba Luv 2 Play(#,^)1310 East Stan Schleuter Loop, Killeen, TX 76542Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/15/2041152.1  152.1  173.2  0.05 %
Jacob Rugs LLC dba Rugs Outlet(#,^)32879 US Hwy 27, Haines City, FL 33844Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%7/13/202648.7  48.7  51.0  0.02 %
RM Hawkins LLC dba Pure Water Tech West(#,^)5140 Topaz Drive, Colorado Springs, CO 80918Nonstore RetailersTerm LoanPrime plus 2.75%7/7/202637.0  37.0  38.3  0.01 %
Nevey's LLC dba Stark Food III(#,^)6315 W. Fond Du Lac Ave, Milwaukee, WI 53218Food and Beverage StoresTerm LoanPrime plus 2.75%6/30/2041278.2  278.2  326.2  0.10 %
Corning Lumber Company Inc and Frank R Close and Son Inc(#,^)1314 Sixth St., Orland, CA 95963Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/30/2029160.2  160.2  173.5  0.05 %
Desert Tacos LLC(#,^)245 East Bell Rd, Ste A-2, Phoenix, AZ 85022Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/202674.5  74.5  78.0  0.02 %
VMA Technologies LLC(#,^)120 S Serenata Dr. #332, Ponte Vedra Beach, FL 32082Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/30/202616.5  16.5  16.8  0.01 %
P L H Pharmaco Inc dba Farmacia San Jose(#,^)149 48th St., Union City, NJ 07087Health and Personal Care StoresTerm LoanPrime plus 2.75%6/30/2026124.2  124.2  131.3  0.04 %
Martin Inventory Management LLC(#,^)304 1/2 Main St., Edgefield, SC 29824Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%6/30/202618.2  18.2  19.2  0.01 %
WGI, LLC dba Williams Grant Inn(#,^)154 High St., Bristol, RI 02809AccommodationTerm LoanPrime plus 2.75%6/29/2041115.8  115.8  135.2  0.04 %
245
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
O.D.S. Inc dba Four Seasons Health & Racquet and Step 'N' Motion, Inc(#,^)626 Delsea Drive N, Glassboro, NJ 08028Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/29/2026102.9  102.9  105.4  0.03 %
KWG Industries, LLC dba Peterson & Marsh Metal Industries(#,^)330 Roycefield Rd, Unit B, Hillsborough, NJ 08844Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/29/2041287.4  287.4  336.2  0.10 %
E & P Holdings 1 LLC and Evans & Paul LLC(#,^)140 Dupont St, Plainview, NY 11803Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%6/28/202699.2  99.2  101.7  0.03 %
MaidPro Marin dba MaidPro(#,^)98 Jewell St., San Rafael, CA 94901Administrative and Support ServicesTerm LoanPrime plus 2.75%6/28/202612.9  12.9  13.1  — %
JumboMarkets Inc dba Rines Jumbomarkets(#,^)15500 SW Trail Drive, Indiantown, FL 34956Food and Beverage StoresTerm LoanPrime plus 2.75%6/24/202636.7  36.7  37.4  0.01 %
Island Time Investments, LLC dba Swantown Inn Bed & Breakfast(#,^)1431 11th Ave SE, Olympia, WA 98501AccommodationTerm LoanPrime plus 2.75%6/24/204195.5  95.5  112.1  0.03 %
Shooting Sports Academy LLC and Jetaa LLC(#,^)27 Main St., Monroe, CT 06468Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/23/2041470.0  470.0  544.0  0.17 %
Long Island Comedy LLC dba Governors and New York Comedy, LLC(#,^)90 A Division Ave, Levittown, NY 11756Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/23/2041176.9  176.9  206.0  0.06 %
Visual Advantage LLC dba Signs Now Perryberg(#,^)23248 Dunbridge Rd, Perrysburg, OH 43443Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/23/204186.1  86.1  100.0  0.03 %
Bagelicious, LLC(#,^)945 S Main St, Cheshire, CT 06410Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/17/202640.1  40.1  40.8  0.01 %
Blue Eagle Transport Inc, Greeneagle Transport Inc and Golden Eagle(#,^)377 Boston Post Rd, Milford, CT 06460Couriers and MessengersTerm LoanPrime plus 2.75%6/16/2026396.4  396.4  403.1  0.13 %
NKJ Lusby Donuts LLC(#,^)174 Village Center Drive, Lusby, MD 20657Food and Beverage StoresTerm LoanPrime plus 2.75%6/16/202616.5  16.5  16.8  0.01 %
Winegirl Wines LLC(#,^)222 E Wapato Way, Manson, WA 98831Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%6/16/20268.3  8.3  8.7  — %
Jai-Alexia Consulting, Inc.(#,^)14660 Paddock Drive, Wellington, FL 33414Couriers and MessengersTerm LoanPrime plus 2.75%6/15/20268.7  8.7  8.8  — %
Pumpkin Patch Child Care of Southington, LLC and Giuseppe Pugliares(#,^)1137 West St., Southington, CT 06489Social AssistanceTerm LoanPrime plus 2%6/15/2041483.0  483.0  533.5  0.17 %
Refoleen Inc dba Spice and Tea Exchange(#,^)849 East Commerce St., Ste 121, San Antonio, TX 78205Food and Beverage StoresTerm LoanPrime plus 2.75%6/10/202663.6  63.6  64.7  0.02 %
Luv 2 Play AZ LLC(#,^)15495 Bell Rd, Surprise, AZ 85374Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/10/202645.9  45.9  48.4  0.02 %
ScimTech Industries Inc dba Archer Aerospace(#,^)1021 Linden Ave, Chester Springs, PA 19425Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%6/6/20268.8  8.8  9.0  — %
Larry H. Patterson and Rainbow Movers, Inc(#,^)2325 Hollers Ave, Bronx, NY 10475Truck TransportationTerm LoanPrime plus 2.75%6/6/202616.5  16.5  16.8  0.01 %
246
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Solvit Inc and Solvit North Inc(#,^)65 Farmington Valley Drive, Plainville, CT 06062Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/3/2026182.8  182.8  188.4  0.06 %
AP5 LLC dba Krauser's Food Store(#,^)5 Pond Point Rd, Milford, CT 06460Food and Beverage StoresTerm LoanPrime plus 2.75%6/2/2041182.8  182.8  214.4  0.07 %
ATI Jet Inc(#,^)7007 Boeing Drive, El Paso, TX 79925Air TransportationTerm LoanPrime plus 2.75%5/31/2026404.9  404.9  416.7  0.13 %
Premier Athletic Center of Ohio, Inc(#,^)8957 Kingsridge Drive, Centerville, OH 45459Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/27/202663.6  63.6  67.1  0.02 %
Angelo Faia dba AVF Construction(#,^)55 Arbour Lane, Sewell, NJ 08080Construction of BuildingsTerm LoanPrime plus 2.75%5/27/204193.8  93.8  109.1  0.03 %
Jack Frost Firewood Inc. and David Dubinsky(#,^)3168 Holland Rd, Virginia Beach, VA 23453Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/26/2041194.2  194.2  225.6  0.07 %
Mersada Holdings LLC(#,^)933 Louise Ave Ste 10122, Charlotte, NC 28204Nonstore RetailersTerm LoanPrime plus 2.75%5/26/2026245.5  245.5  259.0  0.08 %
Southwest Division Inc(#,^)2103 NE 3rd Terrace, Cape Coral, FL 33909Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%5/26/20266.0  6.0  6.2  — %
International Kitchen Supply LLC(#,^)3466 North Hwy 11, West Union, SC 29696Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%5/25/2026135.8  135.8  140.2  0.04 %
Groth Lumber Co. Inc. dba True Value(#,^)6747 Pacific Ave, Wright, MN 55798Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/25/202616.4  16.4  17.3  0.01 %
Island Life Graphics Inc dba FASTSIGNS #576(#,^)1925 S 14th St. No. 7, Amelia Island, FL 32034Miscellaneous ManufacturingTerm LoanPrime plus 2.75%5/24/202616.4  16.4  16.7  0.01 %
Powerspec Inc(#,^)1 Linsley Place, Metuchen, NJ 08840Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/24/202663.4  63.4  64.4  0.02 %
Horseshoe Barbecue, LLC(#,^)6555,6565,6575 N Sandario Rd, Tucson, AZ 85743Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/23/20298.7  8.7  9.4  — %
Pro Auto Repair LLC(#,^)204 F St. SW, Quincy, WA 98848Repair and MaintenanceTerm LoanPrime plus 2.75%5/20/20265.4  5.4  5.7  — %
National Air Cargo Holdings Inc(#,^)5955 TG Lee Blvd., Ste 500, Orlando, FL 32822Air TransportationTerm LoanPrime plus 2.75%5/20/2026909.2  909.2  959.3  0.30 %
Elderfriend Inc dba Granny Nannies dba GN Live Scan(#,^)1499 W. Palmetto Park Rd, Ste #115, Boca Raton, FL 33486Social AssistanceTerm LoanPrime plus 2.75%5/20/20269.3  9.3  9.4  — %
J&A Laundromat Inc.(#,^)225 East Park Ave, Long Beach, NY 11561Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/18/202649.1  49.1  50.3  0.02 %
Dedicated Incorporated(#,^)2916 North 39th St., Phoenix, AZ 85019Administrative and Support ServicesTerm LoanPrime plus 2.75%5/18/204143.8  43.8  51.1  0.02 %
HBA LLC dba Palmetto Twist-Vista(#,^)1225-1229 Lincoln St., Columbia, SC 29201Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/202614.1  14.1  14.4  — %
Studio Find It Georgia Inc(#,^)3399 Peachtree Rd NE, Ste 400, Atlanta, GA 30326Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%5/13/202616.4  16.4  16.8  0.01 %
247
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
FJN Catering Inc(#,^)106 Main St., Mineola, NY 11951Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/13/2041247.3  247.3  290.1  0.09 %
Pumpkin Patch Inc and Christine Feliciano and Antonio Feliciano(#,^)11 Kirby Rd, Cromwell, CT 06419Social AssistanceTerm LoanPrime plus 2.75%5/12/2041124.8  124.8  145.1  0.05 %
Sabir Inc. dba Bear Diner(#,^)603 Pulaski Hwy, Bear, DE 19701Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/11/2041116.6  116.6  136.4  0.04 %
Gator D'Lites LLC dba D'Lites Emporium(#,^)4216 NW 16th Blvd, Gainsville, FL 32605Food and Beverage StoresTerm LoanPrime plus 2.75%5/5/202616.4  16.4  16.6  0.01 %
Keller, Fishback & Jackson LLP(#,^)28720 Canwood St., Agoura Hills, CA 91301Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/29/202691.9  91.9  96.9  0.03 %
Marc S. Rosenberg P.C. dba Mammuth and Rosenberg(#,^)401 East City Ave Ste 122, Bala Cynwyd, PA 19004Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%4/29/202616.2  16.2  16.5  0.01 %
Hard Exercise Works Winter Park LLC(#,^)11551 University Blvd #4C Bldg 1, Orlando, FL 32817Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%4/29/202629.3  29.3  29.8  0.01 %
Loriet LLC(#,^)5001 Vivienda Way, Sarasota, FL 34235Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%4/29/20265.4  5.4  5.5  — %
May-Craft Fiberglass Products Inc(#,^)96 Hillsboro Rd, Four Oaks, NC 27524Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%4/29/2041232.8  232.8  273.2  0.08 %
Alpha Omega Trucking LLC(#,^)14432-52 State Line Rd, Brookings, OR 97415Truck TransportationTerm LoanPrime plus 2.75%4/29/2041165.1  165.1  193.7  0.06 %
Warner Home Comfort, LLC dba Smith Piping(#,^)1571 Canton Rd., NW, Carrollton, OH 44615Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/29/204177.5  77.5  90.2  0.03 %
Empowerschool LLC and Empower Autism Academy, LLC(#,^)1825 Fort View Rd, Austin, TX 78754Social AssistanceTerm LoanPrime plus 2.75%4/29/2041142.8  142.8  167.5  0.05 %
Costume World Inc(#,^)950 S Federal Hwy, Deerfield Beach, FL 33441Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%4/28/20411,175.8  1,175.8  1,379.6  0.43 %
Pecos Inn LLC dba Econo Lodge(#,^)2207 W Third St., Pecos, TX 79772AccommodationTerm LoanPrime plus 2.75%4/28/2041634.1  634.1  741.8  0.23 %
Accent Comfort Services, LLC(#,^)5035-C West W. T. Harris Blvd, Charlotte, NC 28269Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/26/202664.8  64.8  65.9  0.02 %
Automotive Core Recycling, LLC and 828 Old Colony Road, LLC(#,^)27-29 Cooper St., Meriden, CT 06053Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%4/22/2041235.0  235.0  271.1  0.08 %
McIntosh Trail Management Services Organization Inc(#,^)747 South Hill St., Griffin, GA 30224Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/22/2041399.8  399.8  469.1  0.15 %
AAA Mill Direct, Inc. dba Carpet Mill Outlets(#,^)1 North Armistead Ave, Hampton, VA 23669Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%4/21/20265.7  5.7  6.0  — %
Sushiya Inc(#,^)72 South Main St., Hanover, NH 03755Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/12/202663.0  63.0  64.8  0.02 %
KNS Early Learning Academy LLC(#,^)57 Merritt St. SE, Marietta, GA 30060Social AssistanceTerm LoanPrime plus 2.75%4/6/204148.0  48.0  55.7  0.02 %
248
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Waterfalls Quick Lube LLC and Veracruz Shabo LLC(#,^)1325 Broad St., Central Falls, RI 02863Repair and MaintenanceTerm LoanPrime plus 2.75%4/6/2041261.6  261.6  305.4  0.09 %
Christian Soderquist dba Soderquist Plumbing and Heating LLC(#,^)7 Oak Drive, Sandy Hook, CT 06482Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/31/204153.2  53.2  62.5  0.02 %
Cameo Carter, MD A Professional Corporation dba The Garden Pediatric(#,^)101 East Redlands Blvd, Ste 106, Redlands, CA 92373Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/31/202653.4  53.4  54.3  0.02 %
Gill Express Inc and Blue Speed LLC(#,^)2372 Walnut Ave, Livingston, CA 95334Repair and MaintenanceTerm LoanPrime plus 2.75%3/31/2041485.9  485.9  565.6  0.18 %
Dana A. Farley dba Independent Cabinets(#,^)5805 NE Minder Rd, Poulsbo, WA 98370Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%3/31/204161.8  61.8  72.6  0.02 %
Vehicle Safety Supply LLC(#,^)15 East 72nd St., Ste 14-H, New York, NY 10021Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/31/202616.0  16.0  16.3  0.01 %
Men of Steel Enterprises LLC and Vogelbacher Properties LLC(#,^)2039 US Route 130, Burlington, NJ 08016Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/31/2041369.1  369.1  424.6  0.13 %
Wyldewood Cellars, Inc.(#,^)951 East 119th St, Mulvane, KS 67120Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%3/30/2041960.1  960.1  1,108.3  0.34 %
NOSO Development, LLC(#,^)4 Walker Way, Albany, NY 12205Construction of BuildingsTerm LoanPrime plus 2.75%3/30/2026133.5  133.5  135.5  0.04 %
MTS Car Service LLC(#,^)30 Taylor Ave, Norwalk, CT 06850Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%3/30/20267.5  7.5  7.6  — %
Beale Street Blues Company-West Palm Beach, LLC dba Lafayette’s-West(#,^)550 Rosemary Ave, Ste 236, West Palm Beach, FL 33410Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%3/30/202666.8  66.8  68.2  0.02 %
Tom Sawyer Country Restaurant LLC and AM 3208 LLC(#,^)3208 Forest Hills Boulevard, Palm Springs, FL 33406Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/30/2041243.0  243.0  284.5  0.09 %
Gordon Rogers and Heidi Rogers dba Stone House Motor Inn(#,^)162 Danielson Pike, Foster, RI 02825AccommodationTerm LoanPrime plus 2.75%3/30/202616.2  16.2  17.1  0.01 %
Barrocas Gym LLC dba Snap Fitness(#,^)260 West Main St., Avon, CT 06001Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/29/202613.8  13.8  14.3  — %
Vinmar Inc. dba Locanda Portofino(#,^)1110 Montana Ave, Santa Monica, CA 90403Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/29/202657.9  57.9  58.7  0.02 %
Marathon Engineering Corporation(#,^)5615 2nd St. W, Lehigh Acres, FL 33971Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/28/204142.2  42.2  49.3  0.02 %
PHCDC1 LLC dba Quarter + Glory and Public House Collective, Corp.(#,^)2017 14th St. NW, Washington, DC 20009Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/28/202635.6  35.6  36.7  0.01 %
Revolution Physical Therapy LLC dba Apex Network Physical Therapy(#,^)2705 Dougherty Ferry Rd #104, St. Louis, MO 63122Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/25/202616.2  16.2  16.6  0.01 %
249
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
International Construction Inc(#,^)53955 Gratiot Ave, Chesterfield, MI 48051Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%3/24/204145.6  45.6  53.0  0.02 %
ActKnowledge, Inc.(#,^)365 5th Ave, New York, NY 10016Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/24/202689.0  89.0  93.7  0.03 %
Precious Care LLC and Precious Care Management LLC(#,^)186-06 Union Turnpike, Fresh Meadows, NY 11364Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/21/2026396.1  396.1  402.7  0.12 %
Media Capital Partners, Inc(#,^)809 Cedar Rd, Southport, CT 06890Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%3/21/202616.0  16.0  16.2  0.01 %
Kekoa Enterprises Inc dba Signarama Sandy(#,^)8942 South 700 East, Sandy, UT 84070Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/18/202635.2  35.2  35.8  0.01 %
ERT Group Inc and Curt's Tools Inspection Inc(#,^)5229 142nd Dr. NW, Williston, ND 58801Support Activities for MiningTerm LoanPrime plus 2.75%3/18/20411,186.2  1,186.2  1,377.1  0.43 %
Taylors Zinn Enterprises Inc dba Eons Auto Care Inc(#,^)330 West Harden St., Graham, NC 27253Repair and MaintenanceTerm LoanPrime plus 2.75%3/18/204175.7  75.7  88.7  0.03 %
Brian T Rice dba BD Logging(#,^)800 3rd St Apt B, St Marys, WV 26170Forestry and LoggingTerm LoanPrime plus 2.75%3/17/20261.3  1.3  1.4  — %
K Soles Corp dba Max Collections(#,^)3208 Oakcliff Industrial St., Doraville, GA 30340Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%3/16/202616.0  16.0  16.3  0.01 %
R & D Enterprises Inc dba My Pool Man(#,^)291 North Texas Ave., Orlando, FL 32805Administrative and Support ServicesTerm LoanPrime plus 2.75%3/15/202635.6  35.6  36.1  0.01 %
HEWZ, LLC dba Hard Exercise Works(#,^)5684 West Sample Rd, Coral Springs, FL 33071Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/14/202616.0  16.0  16.2  0.01 %
Accuair Control Systems LLC dba Accuair Suspension(#,^)831 Buckley Rd, San Luis Obispo, CA 93401Transportation Equipment ManufacturingTerm LoanPrime plus 2.75%3/11/2026106.8  106.8  109.1  0.03 %
ABCs & 123s Infant and Child Care Center LP(#,^)13419 Hwy 290E., Bldg 5, Manor, TX 78653Social AssistanceTerm LoanPrime plus 2.75%3/11/20268.0  8.0  8.1  — %
Dupre Capital LLC dba Fastsigns(#,^)215 Quartermaster Court, Jeffersonville, IN 47130Miscellaneous ManufacturingTerm LoanPrime plus 2.75%3/11/202641.6  41.6  42.2  0.01 %
Step Up Academy of the Arts LLC(#,^)2558 Wigwam Pkwy Ste A, Henderson, NV 89074Educational ServicesTerm LoanPrime plus 2.75%3/9/20265.7  5.7  5.8  — %
Faith Summit Supply Inc dba Summit Supply and Summit True Value(#,^)8584 US Business Hwy 277, Haskell, TX 79521Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%3/9/202616.0  16.0  16.6  0.01 %
Swerve Salon LLC(#,^)1419 N Wells St., Chicago, IL 60610Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/8/202656.3  56.3  57.1  0.02 %
J & W Hardwood Flooring Inc(#,^)14967 Madison St, Brighton, CO 80602Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/7/20265.3  5.3  5.4  — %
Labmates LLC and POV Holdings LLC(#,^)141 Watertown Rd, Thomaston, CT 06787Miscellaneous Store RetailersTerm LoanPrime plus 2.75%3/4/2041102.5  102.5  120.1  0.04 %
Hueston and Company CPA LLC(#,^)8792 East State Rd 70, Ste B, Bradenton, FL 34202Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/4/20265.8  5.8  5.9  — %
250
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Almost Home Daycare LLC(#,^)35 Copps Hill Rd, Ridgefield, CT 06877Social AssistanceTerm LoanPrime plus 2.75%3/3/202638.4  38.4  40.4  0.01 %
Miles of Smiles Inc(#,^)1408 Molalla Ave, Oregon City, OR 97045Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/2/202667.8  67.8  69.2  0.02 %
The River Beas, LLC dba Subway and Punam Singh(#,^)5516 Baltimore Ave, Hyattsville, MD 20781Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/2041127.6  127.6  149.3  0.05 %
Living Essentials HVAC Corp(#,^)42 West St., Apt 24, Randolph, MA 02368Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/28/202610.6  10.6  10.8  — %
Consulting Solutions, Inc. and Mark Luciani(#,^)3000 N Federal Hwy Ste 1, Fort Lauderdale, FL 33306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/28/20267.9  7.9  8.3  — %
Powerpits CS1, LLC dba Pita Pit(#,^)2008 S Texas Ave, College Station, TX 77840Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/202613.2  13.2  13.6  — %
Drug Detection Laboratories, Inc. and Minh Tran(#,^)9700 Business Park Drive, Sacramento, CA 95827Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/28/202613.9  13.9  14.2  — %
Aaradhya LLC dba Market Square Laundry(#,^)7727 Crittenden St., Philadelphia, PA 19118Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/23/202655.4  55.4  56.2  0.02 %
Blackstones Hairdressing LLC(#,^)2 Ave of the Americas, New York, NY 10013Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/23/202636.9  36.9  37.5  0.01 %
R & K Contracting Inc(#,^)3605 NW 31st Ave, Fort Lauderdale, FL 33309Specialty Trade ContractorsTerm LoanPrime plus 2.75%2/18/202611.1  11.1  11.7  — %
Ei3 Corporation(#,^)136 Summit Ave, Montvale, NJ 07645Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/12/2026230.2  230.2  242.4  0.08 %
B for Blonde, LLC dba Blo Blow Dry Bar(#,^)142 East 49th St., New York, NY 10017Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/12/202644.2  44.2  44.9  0.01 %
Gilmore Heights Dental Holdings, LTD and Chas Rob LLC(#,^)2250 Warrensville Center Rd, University Heights, OH 44118Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/12/2029248.0  248.0  262.7  0.08 %
Jersey Shore Marina & Boat Sales, Inc.(#,^)841 Route 70 East, Brick, NJ 08724Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/12/2041586.3  586.3  687.0  0.21 %
Base USA, Inc.(#,^)2215 NW 2nd Ave, Miami, FL 33127Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%2/2/202635.3  35.3  37.1  0.01 %
Zouk Ltd dba Palma(#,^)28 Cornelia St., New York, NY 10014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/29/202615.7  15.7  16.5  0.01 %
SuzyQue's LLC dba SuzyQue's(#,^)34 South Valley Rd, West Orange, NJ 07052Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/28/202615.6  15.6  16.4  0.01 %
Wildflour Bakery & Cafe LLC(#,^)5137 Clareton Dr., Ste 100, Agoura Hills, CA 91301Social AssistanceTerm LoanPrime plus 2.75%1/28/202643.5  43.5  45.8  0.01 %
Tammy Lavertue(#,^)24 Wakefield St., Rochester, NH 03867Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%1/28/20267.8  7.8  8.2  — %
Gendron Funeral and Cremation Services, Inc.(#,^)135 North Lime Ave, Sarasota, FL 34237Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/11/2041103.7  103.7  121.5  0.04 %
251
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Dolarian Realty LLC and OV's Restaurant Inc(#,^)34 Old Colony Ave, East Taunton, MA 02718Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/5/204163.3  63.3  74.2  0.02 %
Lemonberry Food Stores Inc dba Lemonberry Frozen Yogurt(#,^)1196 Inverness Lane, Stow, OH 44224Food and Beverage StoresTerm LoanPrime plus 2.75%12/29/202577.5  77.5  79.4  0.02 %
MCF Forte LLC(#,^)1245 W Baseline Rd Unit 105, Mesa, AZ 85202Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/29/202512.9  12.9  13.1  — %
Panditos LLC dba White Lotus Home(#,^)431 Raritan Ave, Highland Park, NJ 08904Miscellaneous ManufacturingTerm LoanPrime plus 2.75%12/28/202511.0  11.0  11.1  — %
Ridge Road Equestrian LLC dba Ricochet Ridge Ranch Inc(#,^)24201 North Hwy 1, Fort Bragg, CA 95437Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/23/204095.6  95.6  111.2  0.03 %
800 on the Trax LLC and Matrix Z LLC(#,^)800 SW 21st Terrace, Fort Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%12/23/2040228.7  228.7  265.6  0.08 %
Premier Athletic Center of Ohio Inc. and Gates Investments and Wade(#,^)8957 Kingsridge Drive, Centerville, OH 45459Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/22/2028694.6  694.6  748.0  0.23 %
Joyce Outdoor Advertising Chicago LLC(#,^)2443 West 16th St., Chicago, IL 60608Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/22/2040281.7  281.7  326.9  0.10 %
Hattingh Incorporated dba Prosthetic Care Facility(#,^)4415 Woodridge Pkwy, Ste 180, Leesburg, VA 20176Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/202512.4  12.4  12.8  — %
Labmates LLC(#,^)141 Watertown Rd, Thomaston, CT 06787Miscellaneous Store RetailersTerm LoanPrime plus 2.75%12/18/2040151.5  151.5  177.3  0.06 %
Accent Tag and Label Inc(#,^)2201 Rittenhouse St, Des Moines, IA 50321Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%12/18/2040618.2  618.2  718.8  0.22 %
Abbondanza Market LLC dba Hampton Falls Village Market(#,^)82 Lafayette Rd, Hampton Falls, NH 03844Food and Beverage StoresTerm LoanPrime plus 2.75%12/18/202541.0  41.0  41.9  0.01 %
Trip Consultants U.S.A. Inc.(#,^)311 85th St., Brooklyn, NY 11209Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/18/2025120.6  120.6  122.1  0.04 %
Abitino's JFK LLC dba Abitino's(#,^)Terminal 8 JFK ExpressWay Airport, Jamaica, NY 11430Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/202264.0  64.0  64.1  0.02 %
JAG Unit 1, LLC(#,^)1 West Main St., Patchogue, NY 11772Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/16/2025172.3  172.3  174.4  0.05 %
Swalm Street LLC and New York Home Health Care Equipment LLC(#,^)30 Hopper St., Westbury, NY 11590Ambulatory Health Care ServicesTerm Loan7.5%12/16/2040330.9  330.9  315.8  0.10 %
New York Home Health Care Equipment, LLC(#,^)30 Hopper St., Westbury, NY 11590Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/16/2025725.1  725.1  761.0  0.24 %
Moments to Remember USA LLC dba Retain Loyalty(#,^)1250 Sanders Ave SW, Massillon, OH 44646Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%12/16/202556.5  56.5  58.8  0.02 %
Evans & Paul LLC and E&P Holdings I LLC(#,^)140 Dupont St., Plainview, NY 11803Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 2.75%12/15/202593.5  93.5  95.5  0.03 %
252
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Basista Family Limited Partnership and UPE, Inc.(#,^)3401 Brecksville Rd, Richfield, OH 44286Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/14/2040319.3  319.3  370.9  0.12 %
DC Enterprises Ltd. dba Lakeview True Value(#,^)318 North F St., Lakeview, OR 97630Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%12/14/202515.5  15.5  16.2  0.01 %
Alexandra Afentoulides dba Vi's Pizza Restaurant(#,^)1068 Old Colony Rd, Meriden, CT 06450Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/11/204043.8  43.8  51.3  0.02 %
AGR Foodmart Inc dba Nashua Road Mobil(#,^)11 Nashua Rd, Londonderry, NH 03053Gasoline StationsTerm LoanPrime plus 2.75%12/11/202515.5  15.5  16.2  0.01 %
Cares, Inc dba Dumpling Grounds Day Care Center(#,^)4508 Blakiston St., Philadelphia, PA 19136Social AssistanceTerm LoanPrime plus 2.75%12/10/20255.2  5.2  5.4  — %
Custom Exteriors, Inc.(#,^)2142 Rheem Drive, Ste E, Pleasanton, CA 94588Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/9/202568.9  68.9  70.5  0.02 %
Sushiya, Inc.(#,^)72-74 South Main St., Hanover, NH 03755Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/8/202574.9  74.9  76.7  0.02 %
LC Blvd Holdings LLC and Mt Pleasant Wash & Wax LLC(#,^)880 Lowcountry Blvd, Mount Pleasant, SC 29464Repair and MaintenanceTerm LoanPrime plus 2.75%12/4/2040468.9  468.9  546.5  0.17 %
Japp Business Inc dba Pick and Eat and Japp Drink Corp.(#,^)4179 Broadway, New York, NY 10033Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/30/202585.8  85.8  88.2  0.03 %
DWeb Studio, Inc.(#,^)10800 E. Bethany Drive, Ste 275, Aurora, CO 80014Educational ServicesTerm LoanPrime plus 2.75%11/25/20257.7  7.7  7.8  — %
Play and Learn Child Care and School Inc(#,^)403 S Dillard St, Winter Garden, FL 34787Social AssistanceTerm LoanPrime plus 2.75%11/23/20257.6  7.6  7.9  — %
Sambella Holdings, LLC and Strike Zone Entertainment Center LLC(#,^)726-740 S Fleming St., Sebastian, FL 32958Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%11/23/2040712.8  712.8  679.7  0.21 %
Ronny Ramirez RX Corp dba Naturxheal Family Pharmacy(#,^)3105 107th Ave, Doral, FL 33178Health and Personal Care StoresTerm LoanPrime plus 2.75%11/20/202562.5  62.5  63.7  0.02 %
S.B.B. Enterprises Inc dba Williamston Hardware(#,^)139 S Putnam St., Williamston, MI 48895Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/19/2040101.0  101.0  116.0  0.04 %
Key Pix Productions Inc. dba Air Bud Entertainment(#,^)22525 Pacific Coast Hwy, Malibu, CA 90265Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%11/18/2040512.1  512.1  599.2  0.19 %
E.S.F.P. LLC dba Volusia Van and Storage(#,^)916 South Nova Rd, Ormond Beach, FL 32174Truck TransportationTerm LoanPrime plus 2.75%11/11/202560.9  60.9  62.1  0.02 %
Green Life Lawnscapes LLC dba Green Life Lawn Care(#,^)1820 NE Jensen Beach Blvd, Jensen Beach, FL 34957Administrative and Support ServicesTerm LoanPrime plus 2.75%11/6/202597.3  97.3  102.2  0.03 %
JumboMarkets Inc dba Rines Jumbomarkets(#,^)15500 SW Trail Drive, Indiantown, FL 34956Food and Beverage StoresTerm LoanPrime plus 2.75%11/4/2025208.6  208.6  219.1  0.07 %
Financial Network Recovery Inc(#,^)250 E Easy St. Ste 1, Simi Valley, CA 93065Administrative and Support ServicesTerm LoanPrime plus 2.75%10/26/202527.0  27.0  27.3  0.01 %
253
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
ADMO Inc dba Mid States Equipment(#,^)16180 Westwoods Business Park, Ellisville, MO 63021Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%10/8/202515.1  15.1  15.4  — %
Recycling Consultants, Inc. and Prairie State Salvage and Recycling In(#,^)PO Box 468, Wood River, IL 62095Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/30/2027447.9  447.9  470.7  0.15 %
Accent Homes Services LLC dba Benjamin Franklin Plumbing of Kansas City(#,^)7748 Troost Ave, Kansas City, MO 64131Specialty Trade ContractorsTerm LoanPrime plus 2.75%9/30/202851.3  51.3  55.0  0.02 %
SCJEN Management Inc dba Bowl of Heaven(#,^)43958 Pacific Common Blvd, Fremont, CA 94538Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/202547.9  47.9  48.5  0.02 %
Barub Realty LLC and Barub LLC dba Woodlawn Cabinets(#,^)1838 Adee Ave, Baychester, NY 10469Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%9/30/2040132.4  132.4  154.9  0.05 %
Binky's Vapes LLC(#,^)10539 Greenbelt Rd, Ste 102, Lanham, MD 20706Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/30/202515.0  15.0  15.2  — %
R.H. Hummer Jr., Inc.(#,^)2141 P Ave, Williamsburg, IA 52361Truck TransportationTerm LoanPrime plus 2.75%9/30/2025260.2  260.2  273.0  0.08 %
Greensward of Marco Inc.(#,^)54 Marco Lake Drive, Marco Island, FL 34146Administrative and Support ServicesTerm LoanPrime plus 2.75%9/28/204081.2  81.2  94.3  0.03 %
RIM Investments LLC and RIM Architects LLC(#,^)645 G St. Ste 400, Anchorage, AK 99501Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/28/2040369.8  369.8  428.7  0.13 %
The Grasso Companies LLC and Grasso Pavement Maintenance LLC Veranda(#,^)485 Pepper St., Monroe, CT 06468Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%9/28/2025340.4  340.4  356.7  0.11 %
Prestigious LifeCare for Seniors LLC(#,^)5701 North Pine Island Rd, Tamarac, FL 33321Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/25/20256.5  6.5  6.8  — %
Daniel W. Stark dba Mountain Valley Lodge and RV Park(#,^)223 Hwy 80, Rodeo, NM 88056AccommodationTerm LoanPrime plus 2.75%9/25/204012.5  12.5  14.6  — %
Sandlot Ventures LLC and Sandbox Ventures LLC(#,^)1857A Elmdale Ave, Glenview, IL 60025Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/25/2040413.4  413.4  477.6  0.15 %
Yachting Solutions LLC(#,^)229 Commercial St, Rockport, ME 04856Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%9/25/2040892.1  892.1  1,030.4  0.32 %
St Lawrence Hotel Corp and Oheka Catering Inc dba Quality Inn(#,^)10 West Orvis St., Massena, NY 13662AccommodationTerm LoanPrime plus 2.75%9/24/2040579.3  579.3  672.5  0.21 %
Rutledge Enterprises Inc dba BLC Property Management(#,^)149 S. 400 East, Greenfield, IN 46140Administrative and Support ServicesTerm LoanPrime plus 2.75%9/23/204057.5  57.5  66.7  0.02 %
Finish Strong Inc dba FASTSIGNS St Peters(#,^)98 North Hillview Drive, St Peters, MO 63376Miscellaneous ManufacturingTerm LoanPrime plus 2.75%9/23/202533.3  33.3  33.6  0.01 %
Sound Manufacturing Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/21/202533.1  33.1  33.9  0.01 %
IIoka Inc dba New Cloud Networks(#,^)160 Inverness Drive W Ste 150, Englewood, CO 80112Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/21/2025444.6  444.6  449.1  0.14 %
254
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Vanderhoof LLC dba Soxfords(#,^)11 Sellecks Walk, Pound Ridge, NY 10576Apparel ManufacturingTerm LoanPrime plus 2.75%9/18/202510.4  10.4  10.5  — %
MiJoy Inc dba Imo's Pizza(#,^)215 South Kirkwood Rd, Kirkwood, MO 63122Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/18/20255.5  5.5  5.5  — %
Naeem Khan LTD(#,^)260 West 36h St., New York, NY 10018Apparel ManufacturingTerm LoanPrime plus 2.75%9/17/202583.2  83.2  84.0  0.03 %
FirstVitals Health and Wellness Inc(#,^)1288 Ala Moana Blvd Ste 27E, Honolulu, HI 96814Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/15/2025100.3  100.3  101.3  0.03 %
Almost Home Daycare LLC(#,^)35 Copps Hill Rd, Ridgefield, CT 06877Social AssistanceTerm LoanPrime plus 2.75%9/11/20257.3  7.3  7.6  — %
Gardner's Wharf Holdings LLC and Gardner's Wharf Seafood Inc(#,^)170 Main St., North Kingstown, RI 02852Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%9/8/2040130.0  130.0  151.9  0.05 %
Empower Autism Academy(#,^)11316 Wet Season Drive, Austin, TX 78754Social AssistanceTerm LoanPrime plus 2.75%9/4/2040634.9  634.9  741.7  0.23 %
Higher Grounds Community Coffeehouse, LLC(#,^)39 Kingstown Rd, Wyoming, RI 02898Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/2/20255.5  5.5  5.6  — %
Elite Institute LLC dba Huntington Learning Center(#,^)13526 Village Park Drive Ste 214, Orlando, FL 32837Educational ServicesTerm LoanPrime plus 2.75%8/28/202510.0  10.0  10.1  — %
God Be Glorified Inc dba GBG Inc(#,^)40 West. 162nd St, South Holland, IL 60473Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%8/20/202534.8  34.8  35.2  0.01 %
3000 CSI Property LLC and Consulting Solutions Inc(#,^)3000 N Federal Hwy Ste 1, Fort Lauderdale, FL 33306Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/20/2040127.8  127.8  149.1  0.05 %
GDP Gourmet LLC dba Joe and John's Pizza Restaurant(#,^)136 New Jersey Ave, Absecon, NJ 08201Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/19/2040134.8  134.8  156.3  0.05 %
Gold Jet Corp.(#,^)2472 Broadway, New York, NY 10025Couriers and MessengersTerm LoanPrime plus 2.75%8/14/202547.1  47.1  48.6  0.02 %
SKJ Inc dba Subway(#,^)401 S Woodlawn Ave, Bloomington, IN 47401Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/13/202555.4  55.4  56.2  0.02 %
LP Industries Inc dba Childforms(#,^)110 Charleston Drive, Mooresville, NC 28117Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%7/29/202581.1  81.1  84.5  0.03 %
Beale Street Blues Company-West Palm Beach LLC(#,^)550 Rosemary Ave, Ste 236, West Palm Beach, FL 33401Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%7/24/202543.0  43.0  44.0  0.01 %
Smart Artists Inc.(#,^)450 West 24th St. Ste 1C, New York, NY 10011Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%7/23/202514.6  14.6  14.8  — %
Free Ion Advisors LLC(#,^)322 Evandale Rd, Scarsdale, NY 10583Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%7/21/202541.7  41.7  42.1  0.01 %
Murrayville Donuts, Inc dba Dunkin' Donuts(#,^)2304 N College Rd, Wilmington, NC 28405Food and Beverage StoresTerm LoanPrime plus 2.75%7/15/2040330.7  330.7  381.5  0.12 %
Union 2 LLC dba The Standard(#,^)1520 Broadway, Fort Myers, FL 33901Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/10/202569.3  69.3  71.7  0.02 %
255
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Jonathan E Nichols and Nichols Fire and Security LLC(#,^)1906 Vanderhorn Drive, Memphis, TN 38134Administrative and Support ServicesTerm LoanPrime plus 2.75%6/30/202548.1  48.1  50.7  0.02 %
Anglin Cultured Stone Products LLC dba Anglin Construction(#)877 Salem Church Rd, Newark, DE 19702Specialty Trade ContractorsTerm Loan8.25%6/30/2025193.3  193.3  187.2  0.06 %
Thrifty Market, Inc. dba Thrifty Foods(#,^)702 10th St, Wheatland, WY 82201Food and Beverage StoresTerm LoanPrime plus 2.75%6/30/2030222.7  222.7  242.3  0.08 %
Myclean Inc.(#,^)247 West 36th St. 9th Fl, New York, NY 10018Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/29/202510.2  10.2  10.5  — %
Summit Beverage Group LLC(#,^)211 Washington Ave, Marion, VA 24354Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%8/29/2030235.4  235.4  256.9  0.08 %
SofRep, Inc dba Force 12 Media(#,^)930 Tahoe Blvd Ste 802-543, Incline Village, NV 89451Other Information ServicesTerm LoanPrime plus 2.75%6/26/202542.5  42.5  43.9  0.01 %
Jihan Inc dba ARCO AM/PM and Diana Inc dba Diana's Recycling(#,^)13886 Campo Rd, Jamul, CA 91935Gasoline StationsTerm LoanPrime plus 2.75%6/26/2040350.1  350.1  413.0  0.13 %
TJU-DGT Inc dba The Lorenz Cafe(#,^)714-718 Lorenz Ave, Pittsburgh, PA 15220Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/26/202916.1  16.1  17.5  0.01 %
E & G Enterprises LLC dba Comfort Keepers(#,^)220 Middle St., Franklin, VA 23851Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/26/202514.4  14.4  14.9  — %
CEM Autobody LLC dba Dawn's Autobody(#,^)7 Division St, Keyport, NJ 07735Repair and MaintenanceTerm LoanPrime plus 2.75%6/26/2040124.9  124.9  147.2  0.05 %
Ohs Auto Body, Inc. dba Ohs Body Shop(#,^)3560 Hwy 93 S, Kalispell, MT 59901Repair and MaintenanceTerm Loan7.65%6/25/20401,123.2  1,123.2  1,066.2  0.33 %
Wolf Enviro Interests, LLC and Enviromax Services Inc(#,^)18002 Mueschke Rd, Cypress, TX 77433Administrative and Support ServicesTerm LoanPrime plus 2.75%6/25/2040227.8  227.8  266.7  0.08 %
Evinger PA One, Inc. dba Postal Annex, Falcon(#,^)7661 McLaughlin Rd, Falcon, CO 80831Miscellaneous Store RetailersTerm LoanPrime plus 2.75%6/24/202514.4  14.4  15.1  — %
RJI Services, Inc.(#,^)353 E Angeleno Ste G, Burbank, CA 91502Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/23/202514.2  14.2  14.7  — %
Real Help LLC dba Real Help Decorative Concrete(#,^)2221 Broadway St., Buffalo, NY 14212Administrative and Support ServicesTerm LoanPrime plus 2.75%6/22/202534.1  34.1  35.8  0.01 %
KRN Logistics, LLC and Newsome Trucking, Inc(#)2262 Hwy 53 W, Jasper, GA 30143Truck TransportationTerm LoanPrime plus 2.75%6/19/2025343.7  343.7  359.2  0.11 %
PM Cassidy Enterprises, Inc. dba Junk King(#,^)960 Matley Lane, Ste 20-21, Bldg B, Reno, NV 89502Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%6/19/20259.5  9.5  9.9  — %
Inverted Healthcare Staffing of Florida LLC dba Interim Healthcare(#,^)111 N Pompano Beach Blvd., Pompano Beach, FL 33062Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/18/202529.9  29.9  30.9  0.01 %
AM PM Properties, LLC and AM PM Willington, LLC(#,^)1308 Stafford Rd, Storrs Mansfield, CT 06268Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/17/204080.0  80.0  94.5  0.03 %
256
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Mirage Plastering Inc and Mpire LLC and Mpire II LLC(#,^)1802 W Grant Rd Ste 114, Tucson, AZ 85745Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/12/2040127.8  127.8  149.2  0.05 %
Eldredge Tavern LLC dba Gonyea's Tavern(#,^)150 Main St., Pascoag, RI 02859Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/8/204051.8  51.8  61.3  0.02 %
Chitalian Fratelli LLC dba Francesca Brick Oven Pizza and Pasta(#,^)234 Rock Rd, Glen Rock, NJ 07452Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/5/202510.1  10.1  10.4  — %
ViAr Visual Communications, Inc. dba Fastsigns 281701(#,^)4721 University Way NE, Seattle, WA 98105Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/5/202539.8  39.8  41.2  0.01 %
Video Vault & Tanning LLC and Mosaic Salon LLC(#)W7003 Parkview Dr, Ste A-B, Greenville, WI 54942Rental and Leasing ServicesTerm LoanPrime plus 2.75%6/4/204084.8  84.8  100.3  0.03 %
Medworxs LLC(#,^)10901 W. Toller Drive, Littleton, CO 80127Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/3/202580.2  80.2  82.9  0.03 %
XCESSIVE THROTTLE, INC dba Jake's Roadhouse(#,^)5980 Lamar St., Arvada, CO 80003Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/29/20255.2  5.2  5.4  — %
Villela CPA PL(#,^)777 Brickell Ave, Ste 500, Miami, FL 33131Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%5/27/20255.7  5.7  5.9  — %
Douglas Posey and Sally Watkinson dba Audrey's Farmhouse(#,^)2188 Brunswyck Rd, Wallkill, NY 12589AccommodationTerm LoanPrime plus 2.75%5/20/2040160.1  160.1  189.0  0.06 %
15 McArdle LLC and No Other Impressions Inc(#,^)15 McArdle St., Rochester, NY 14611Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%5/15/2040169.4  169.4  199.6  0.06 %
Guard Dogs MFS LLC(#,^)9460 Mistwater Close, Roswell, GA 30076Repair and MaintenanceTerm LoanPrime plus 2.75%5/8/202539.7  39.7  41.1  0.01 %
George S Cochran DDS Inc(#,^)1066 Chelsea Ave, Napoleon, OH 43545Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/7/202590.8  90.8  93.8  0.03 %
South Park Properties LLC and Midlothian Hardware LLC(#,^)4751 147th St., Midlothian, IL 60445Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%5/6/204044.0  44.0  52.0  0.02 %
Matthew Taylor and Landon Farm LLC(#,^)6103 N Church St, Greensboro, NC 27455Personal and Laundry ServicesTerm LoanPrime plus 2.75%5/4/204092.5  92.5  108.0  0.03 %
Cares Inc dba Dumpling Grounds Day Care Center(#,^)4508 Blakiston St., Philadelphia, PA 19136Social AssistanceTerm LoanPrime plus 2.75%5/1/204074.5  74.5  88.1  0.03 %
Orchid Enterprises Inc dba Assisting Hands of Sussex County(#,^)274 Spring St., Newton, NJ 07860Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/24/20259.4  9.4  9.7  — %
Ragazza Restaurant Group, Inc. dba Bambolina(#,^)288 Derby St., Salem, MA 01970Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/21/202511.3  11.3  11.7  — %
Diamond Solutions LLC(#,^)7655 E Gelding Drive, Ste B2, Scottsdale, AZ 85260Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%4/21/202512.1  12.1  12.5  — %
Giacchino Maritime Consultants Inc(#,^)5219 Tamiami Court, Cape Coral, FL 33904Personal and Laundry ServicesTerm LoanPrime plus 2.75%4/17/202514.1  14.1  14.6  — %
257
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Sound Coaching Inc(#,^)4749 Main St. Ste 3, Bridgeport, CT 06606Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%4/14/202527.8  27.8  28.7  0.01 %
Faramarz Nikourazm dba Car Clinic Center(#,^)10707 Shady Trail, Dallas, TX 75220Repair and MaintenanceTerm LoanPrime plus 2.75%4/3/204067.5  67.5  79.4  0.02 %
Mid-South Lumber Co. of Northwest Florida, Inc.(#,^)717 W 11th St., Panama City, FL 32402Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%3/31/2040392.6  392.6  460.0  0.14 %
Copper Beech Financial Group LLC(#,^)1223 North Church St., Moorestown, NJ 08057Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%3/30/202577.1  77.1  80.5  0.02 %
Sunset Marine Resort LLC and GoXpeditions LLC and Lavon Gomes(#,^)40 Buzzard Ridge Rd, Sequim, WA 98382AccommodationTerm LoanPrime plus 2.75%3/27/2040276.3  276.3  326.7  0.10 %
Shorr Enterprises Inc dba New Design Furniture Manufacturers(#,^)3033 NW 28 St., Lauderdale Lakes, FL 33311Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%3/27/202565.7  65.7  68.7  0.02 %
Shellhorn and Hill Inc dba Total Fleet Service(#,^)501 South Market St, Wilmington, DE 19801Nonstore RetailersTerm LoanPrime plus 2.75%3/27/2040948.7  948.7  1,111.7  0.35 %
Foresite Realty Partners LLC and Foresite Real Estate Holdings LLC(#,^)5600 N River Rd #925, Rosemont, IL 60018Real EstateTerm LoanPrime plus 2.75%3/27/2025763.9  763.9  787.5  0.24 %
Joyce Outdoor Advertising NJ LLC and Joyce Outdoor Advertising LLC(#,^)800 James Ave, Scranton, PA 18510Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/26/204049.4  49.4  58.3  0.02 %
Zero-In Media Inc(#,^)1123 Broadway Ste 704, New York, NY 10010Data Processing, Hosting, and Related ServicesTerm LoanPrime plus 2.75%3/25/202513.9  13.9  14.3  — %
Loriet LLC(#,^)5001 Vivienda Way, Sarasota, FL 34235Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%3/24/20257.4  7.4  7.6  — %
Jaymie Hazard dba Indigo Hair Studio and Day Spa(#,^)2016 Warwick Ave, Warwick, RI 02889Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/20/204039.2  39.2  46.1  0.01 %
Shelton Incorporated dba Mrs. Winners(#,^)4509 N. Henry Blvd., Stockbridge, GA 30281Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/20/2040103.0  103.0  121.6  0.04 %
R & R Security and Investigations Inc dba Pardners Lake Buchanan(#,^)15615 State Route 29, Buchanan Dam, TX 78609Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/19/204078.1  78.1  92.2  0.03 %
MMS Realty, LLC and Molecular MS Diagnostics LLC(#,^)1224 Greenwich Ave, Warwick, RI 02886Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/18/2040147.2  147.2  172.8  0.05 %
Royal Crest Motors LLC(#,^)769 Amesbury Rd, Haverhill, MA 01830Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%3/16/204083.5  83.5  98.3  0.03 %
Luigi's on Main LLC and Luigi's Main Street Pizza Inc(#,^)491 Montauk Hwy, Eastport, NY 11941Food Services and Drinking PlacesTerm LoanPrime plus 2.75%3/4/20256.9  6.9  7.3  — %
Baystate Firearms and Training, LLC(#)215 Newbury St., Peabody, MA 01960Educational ServicesTerm LoanPrime plus 2.75%2/27/202536.3  36.3  37.5  0.01 %
258
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Pace Motor Lines, Inc.(#,^)1425 Honeyspot Rd Extension, Stratford, CT 06615Truck TransportationTerm LoanPrime plus 2.75%2/26/202540.0  40.0  41.9  0.01 %
Kingseal LLC dba Desoto Health and Rehab Center(#,^)475 Nursing Home Drive, Arcadia, FL 34266Nursing and Residential Care FacilitiesTerm LoanPrime plus 2.75%2/26/20401,168.5  1,168.5  1,379.3  0.43 %
Nelson Financial Services LLC(#,^)20015 N 83rd Place, Scottsdale, AZ 85255Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%2/24/20257.6  7.6  7.8  — %
Kiddie Steps 4 You Inc.(#,^)1700 West 63rd St., Chicago, IL 60636Social AssistanceTerm LoanPrime plus 2.75%2/19/204056.6  56.6  66.5  0.02 %
Triangle Trash LLC dba Bin There Dump That(#,^)188 Northbend Drive, Youngsville, NC 27596Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%2/18/202545.2  45.2  47.1  0.01 %
Dean 1021 LLC dba Pure Pita(#,^)106 Central Ave, Westfield, NJ 07090Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/29/202553.7  53.7  55.7  0.02 %
Limameno LLC dba Sal's Italian Ristorante(#,^)861 Yamato Rd, Bay #2, Boca Raton, FL 33431Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/23/202550.0  50.0  51.8  0.02 %
Palmabak Inc dba Mami Nora's(#,^)4614 Capital Blvd, Raleigh, NC 27604Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/22/20254.6  4.6  4.8  — %
Jung Design Inc(#,^)10857 Pine Bluff Drive, Fishers, IN 46037Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%1/20/20223.0  3.0  3.0  — %
Grand Blanc Lanes, Inc. and H, H and H, LLC(#,^)5301 S Saginaw Rd, Flint, MI 48507Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/31/2039121.0  121.0  142.8  0.04 %
Evans and Paul LLC(#,^)140 Dupont St., Plainview, NY 11803Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%12/30/2024145.0  145.0  152.1  0.05 %
First Prevention and Dialysis Center, LLC(#)17940 NW 27th Ave, Miami Gardens, FL 33056Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/30/2024176.1  176.1  184.6  0.06 %
Bowlerama Inc(#,^)3031 New Castle Ave, New Castle, DE 19720Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%12/24/20391,095.8  1,095.8  1,291.5  0.40 %
The Lodin Group LLC and Lodin Health Imaging Inc(#,^)114-115 Medical Center Ave, Sebring, FL 33870Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/23/2039482.5  482.5  563.8  0.17 %
Thermoplastic Services Inc and Paragon Plastic Sheet, Inc(#,^)1700 W 4th St., Dequincy, LA 70633Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%12/23/2039455.0  455.0  536.2  0.17 %
Beale Street Blues Company-West Palm Beach, LLC(#,^)550 S Rosemary Ave #236, West Palm Beach, FL 33401Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%12/22/2024111.0  111.0  115.1  0.04 %
B.S. Ventures LLC dba Dink's Market(#,^)48649 Hwy 58, Oakridge, OR 97463Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/19/203948.9  48.9  57.6  0.02 %
The Jewelers Inc. dba The Jewelers of Las Vegas(#,^)2400 Western Ave, Las Vegas, NV 89102Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%12/19/2024735.5  735.5  757.6  0.24 %
Will Zac Management LLC dba Papa John's(#)2410 West Jefferson St., Ste B, Joliet, IL 60435Food Services and Drinking PlacesTerm Loan6.25%12/19/202488.5  88.5  86.9  0.03 %
MM and M Management Inc dba Pizza Artista(#,^)5409 Johnston St., Lafayette, LA 70503Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/19/202528.7  28.7  29.8  0.01 %
259
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
B & W Towing, LLC and Boychucks Fuel LLC(#,^)701 Addison Rd, Painted Post, NY 14870Repair and MaintenanceTerm LoanPrime plus 2.75%12/17/2039149.7  149.7  175.4  0.05 %
Kemmer LLC and Apples Tree Top Liquors LLC(#)1300 S Jackson St., Salem, IN 47167Food and Beverage StoresTerm LoanPrime plus 2.75%12/4/2039129.0  129.0  150.9  0.05 %
Teamnewman Enterprises LLC dba Newmans at 988 and John H. Newman(#,^)988 Hemlock St., Cannon Beach, OR 97110Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/2039108.2  108.2  127.2  0.04 %
Modern Manhattan LLC(#,^)250 Park Ave South, New York, NY 10003Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%11/25/2024128.4  128.4  132.4  0.04 %
Legacy Estate Planning Inc dba American Casket Enterprises(#,^)2176 Route 119 North, Greensburg, PA 15601Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/21/202424.5  24.5  25.2  0.01 %
J&D Resources, LLC dba Aqua Science(#,^)1923 E. 5th St., Tempe, AZ 85281Specialty Trade ContractorsTerm LoanPrime plus 2.75%11/21/2024440.8  440.8  454.8  0.14 %
DC Real LLC and DC Enterprises LTD dba Lakeview True Value(#,^)318 North F St., Lakeview, OR 97630Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%11/20/2039108.9  108.9  128.1  0.04 %
Heartland American Properties LLC and Skaggs RV Outlet LLC(#,^)301 Commerce Drive, Elizabethtown, KY 42701Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%10/31/2039434.0  434.0  510.4  0.16 %
One Hour Jewelry Repair Inc(#,^)6544 Springfield Mall, Springfield, VA 22150Repair and MaintenanceTerm LoanPrime plus 2.75%10/14/202411.8  11.8  12.2  — %
DNT Storage and Properties LLC(#,^)38 Old National Pike, West Alexander, PA 15376Real EstateTerm LoanPrime plus 2.75%10/10/203992.2  92.2  108.6  0.03 %
Sound Manufacturing Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%10/10/2024107.0  107.0  110.9  0.03 %
Doctors Express Management of Central Texas LLC(#,^)3614 SW HK Dodgen Loop, Ste F, Temple, TX 76504Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/8/20243.7  3.7  3.9  — %
Smith Spinal Care Center P.C. and James C. Smith(#,^)1103 Russell Parkway, Warner Robins, GA 31088Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%10/8/203926.0  26.0  30.7  0.01 %
Michael Rey Jr. and Lynn J. Williams and GIG Petcare dba Hickory(#,^)900 Alpine Rd, Bridgeville, PA 15017Personal and Laundry ServicesTerm LoanPrime plus 2.75%10/3/2039110.5  110.5  130.1  0.04 %
Sumad LLC dba BrightStar Care of Encinitas(#,^)680 Fletcher Pkwy, Ste 206, El Cajon, CA 92020Administrative and Support ServicesTerm LoanPrime plus 2.75%10/2/202430.6  30.6  32.0  0.01 %
Roccos LLC and Sullo Pantalone Inc dba Rocco's(#,^)79 Beach Rd Unit B13-B14, Vineyard Haven, MA 02568Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/30/2039231.2  231.2  270.9  0.08 %
Gordon E Rogers dba Stonehouse Motor Inn(#,^)162 Danielson Pike, Foster, RI 02825AccommodationTerm LoanPrime plus 2.75%9/26/203952.0  52.0  61.3  0.02 %
Andrene's LLC dba Andrene's Caribbean Soul Food Carry Out(#,^)308 Kennedy St. NW, Washington, DC 20011Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/23/202416.0  16.0  16.4  0.01 %
260
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Ryan Crick and Pamela J. Crick and Crick Enterprises Inc(#,^)3390 W. Andrew Johnson Hwy, Greeneville, TN 37743Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/2039131.9  131.9  155.2  0.05 %
Modern Leather Goods Repair Shop Inc(#,^)2 West 32nd St., Ste 401, New York, NY 10001Repair and MaintenanceTerm LoanPrime plus 2.75%9/17/202432.3  32.3  33.1  0.01 %
Animal Intrusion Prevention Systems Holding Company, LLC(#,^)3330 N Beach St., Fort Worth, TX 76111Administrative and Support ServicesTerm LoanPrime plus 2.75%9/15/2024166.7  166.7  172.5  0.05 %
Tavern Properties LLC and Wildwood Tavern LLC(#,^)6480 West Touhy Ave, Niles, IL 60714Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/15/2039387.5  387.5  455.0  0.14 %
Indy East Smiles Youth Dentistry LLC dba Prime Smile East(#,^)5430 E. Washington St., Indianapolis, IN 46219Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/11/2024357.3  357.3  366.9  0.11 %
B&P Diners LLC dba Engine House Restaurant(#,^)71 Lafayette St., Unit 1, Salem, MA 01970Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/10/202445.4  45.4  46.5  0.01 %
Lamjam LLC, Goldsmith Lambros Inc(#)7137 Little River Turnpike, Annandale, VA 22003Clothing and Clothing Accessories StoresTerm LoanPrime plus 2.75%8/27/202480.4  80.4  84.0  0.03 %
Atlas Auto Body Inc dba Atlas Auto Sales(#,^)20 Providence St., West Warwick, RI 02893Repair and MaintenanceTerm LoanPrime plus 2.75%8/22/203946.5  46.5  54.5  0.02 %
Katie Senior Care LLC dba Home Instead Senior Care(#,^)222E Eufaula St Ste 220, Norman, OK 73069Social AssistanceTerm LoanPrime plus 2.75%8/15/202459.6  59.6  61.2  0.02 %
Alpha Preparatory Academy LLC(#,^)4462 Mink Livsey Rd, Snellville, GA 30039Social AssistanceTerm LoanPrime plus 2.75%8/15/2039131.5  131.5  154.8  0.05 %
Hamer Road Auto Salvage, LLC and Scott T. Cook and Nikki J. Cook(#,^)10463 Hamer Rd, Georgetown, OH 45121Motor Vehicle and Parts DealersTerm Loan6%8/8/2039128.7  128.7  123.1  0.04 %
Almost Home Property LLC and Almost Home Daycare LLC(#,^)35 Copps Hill Rd, Ridgefield, CT 06877Social AssistanceTerm LoanPrime plus 2.75%8/7/2039674.2  674.2  792.5  0.25 %
iFood, Inc. dba Steak N Shake(#,^)5900 Duraleigh Rd, Raleigh, NC 27612Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/31/2024216.6  216.6  225.0  0.07 %
575 Columbus Avenue Holding Company, LLC and LA-ZE LLC(#,^)575 Columbus Ave, New Haven, CT 06519Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/30/203918.5  18.5  21.8  0.01 %
Honeyspot Investors LLP and Pace Motor Lines Inc(#,^)1425 Honeyspot Rd Ext., Stratford, CT 06615Truck TransportationTerm LoanPrime plus 2.75%7/24/2039134.9  134.9  158.7  0.05 %
Miss Cranston Diner II, LLC and Miss Cranston II Realty LLC(#,^)15 Stonebridge, Cranston, RI 02921Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/17/203988.2  88.2  103.6  0.03 %
Honeyspot Investors LLP and Pace Motor Lines Inc(#,^)1425 Honeyspot Rd Ext., Stratford, CT 06615Truck TransportationTerm LoanPrime plus 2.75%6/30/2039786.8  786.8  932.7  0.29 %
iFood, Inc. dba Steak N Shake(#,^)2840 E Millbrook Rd, Raleigh, NC 27604Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/2039566.8  566.8  669.7  0.21 %
261
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Lisle Lincoln II Limited Partnership dba Lisle Lanes LP(#,^)4920 Lincoln Ave Rte 53, Lisle, IL 60532Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/30/202453.7  53.7  56.3  0.02 %
AMG Holding, LLC and Stetson Automotive, Inc(#,^)309 Route 9, Waretown, NJ 08758Repair and MaintenanceTerm LoanPrime plus 2.75%6/30/2039187.0  187.0  221.7  0.07 %
JPM Investments LLC and Carolina Family Foot Care P.A.(#)122 N. Main St., Fuquay Varina, NC 27526Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/26/2039128.4  128.4  151.8  0.05 %
Zinger Hardware and General Merchant Inc(#)4001 N Lamar Blvd Ste 300, Austin, TX 78756Building Material and Garden Equipment and Supplies DealersTerm Loan7.25%6/26/202441.1  41.1  40.5  0.01 %
Nikobella Properties LLC and JPO Inc dba Village Car Wash(#)1372 South US Route 12, Fox Lake, IL 60020Repair and MaintenanceTerm LoanPrime plus 2.75%6/25/2039444.1  444.1  525.1  0.16 %
Big Sky Plaza LLC and Strickland, Incorporated(#,^)1313 West Park St. #1, Livingston, MT 59047Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%6/20/2039209.6  209.6  247.9  0.08 %
Sico & Walsh Insurance Agency Inc and The AMS Trust(#)106 Concord Ave, Belmont, MA 02478Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%6/6/203984.9  84.9  100.5  0.03 %
Sujata Inc dba Stop N Save Food Mart and Dhruvesh Patel(#,^)15637 St Clair Ave, Cleveland, OH 44110Food and Beverage StoresTerm LoanPrime plus 2.75%6/3/20249.0  9.0  9.3  — %
Long Island Barber Institute Inc(#,^)266 Greenwich St., Hempstead, NY 11550Educational ServicesTerm LoanPrime plus 2.75%6/2/203949.8  49.8  58.9  0.02 %
Pocono Coated Products, LLC(#,^)100 Sweetree St., Cherryville, NC 28021Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%5/30/202412.0  12.0  12.5  — %
Jonesboro Health Food Center LLC(#,^)1321 Stone St., Jonesboro, AR 72401Health and Personal Care StoresTerm LoanPrime plus 2.75%5/27/202434.0  34.0  35.3  0.01 %
Hae M. and Jin S. Park dba Buford Car Wash(#,^)1163 Buford Hwy, Sugar Hill, GA 30518Repair and MaintenanceTerm LoanPrime plus 2.75%5/15/2039148.4  148.4  175.3  0.05 %
The River Beas LLC and Punam Singh(#,^)11704 Centurion Way, Potomac, MD 20854Food Services and Drinking PlacesTerm LoanPrime plus 2.75%5/8/203981.0  81.0  95.8  0.03 %
AS Boyals LLC dba Towne Liquors(#,^)117 South Broad St., Woodbury City, NJ 08096Food and Beverage StoresTerm LoanPrime plus 2.75%4/29/203997.3  97.3  115.2  0.04 %
Gerami Realty, LC, Sherrill Universal City Corral, LP(#,^)2301 Pat Booker Rd, Universal City, TX 78148Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/23/202753.0  53.0  57.0  0.02 %
Complete Body & Paint, Inc.(#,^)32220 Michigan Ave, Wayne, MI 48184Repair and MaintenanceTerm LoanPrime plus 2.75%4/23/203918.6  18.6  22.0  0.01 %
Island Wide Realty LLC and Long Island Partners, Inc.(#,^)201-203-205 West Merrick Rd, Valley Stream, NY 11580Real EstateTerm LoanPrime plus 2.75%4/22/203992.8  92.8  109.8  0.03 %
Wilshire Media Systems Inc(#,^)2649 Townsgate Rd #500, Westlake Village, CA 91361Specialty Trade ContractorsTerm LoanPrime plus 2.75%4/17/202496.9  96.9  100.8  0.03 %
262
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
1899 Tavern & Tap LLC and Ale House Tavern & Tap LLC(#,^)1899 State Route 35, South Amboy, NJ 08879Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/9/2039100.2  100.2  118.6  0.04 %
Dantanna's Tavern LLC(#,^)6615 Roswell Rd NE #30, Sandy Springs, GA 30328Food Services and Drinking PlacesTerm LoanPrime plus 2.75%6/30/202487.4  87.4  91.3  0.03 %
Little People's Village II LLC and Iliopoulos Realty LLC(#,^)6522 Haverford Ave, Philadelphia, PA 19151Social AssistanceTerm LoanPrime plus 2.75%3/31/203982.6  82.6  97.5  0.03 %
Eagle Aggregate Transportation, LLC and Eagle Pneumatic Transport LLC(#,^)4401 N I-35 #113, Denton, TX 76207Truck TransportationTerm LoanPrime plus 2.75%3/31/2024365.0  365.0  381.5  0.12 %
Little People's Village II LLC and Iliopoulos Realty LLC(#,^)6522 Haverford Ave, Philadelphia, PA 19151Social AssistanceTerm LoanPrime plus 2.75%3/31/203991.1  91.1  107.6  0.03 %
Kemmer, LLC and Pitts Package Store, Inc.(#,^)201 S. Main St., Salem, IN 47167Food and Beverage StoresTerm LoanPrime plus 2.75%3/31/2039105.3  105.3  124.2  0.04 %
Hodges Properties LLC and Echelon Enterprises Inc dba Treads Bicycle(#,^)16701 E. Iliff Ave, Aurora, CO 80013Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%3/31/2039400.6  400.6  473.9  0.15 %
636 South Center Holdings, LLC and New Mansfield Brass and Aluminum(#)636 South Center St., New Washington, OH 44854Primary Metal ManufacturingTerm LoanPrime plus 2.75%3/20/203971.8  71.8  84.8  0.03 %
Cormac Enterprises and Wyoming Valley Beverage Incorporated(#,^)63 S Wyoming Ave, Edwardsville, PA 18704Food and Beverage StoresTerm LoanPrime plus 2.75%3/20/203998.9  98.9  116.8  0.04 %
Kinisi, Inc. dba The River North UPS Store(#,^)301 West Grand Ave, Chicago, IL 60654Administrative and Support ServicesTerm LoanPrime plus 2.75%3/18/20245.8  5.8  6.0  — %
Tortilla King, Inc.(#,^)249 23rd Ave, Moundridge, KS 67107Food ManufacturingTerm LoanPrime plus 2.75%3/14/2029770.6  770.6  840.4  0.26 %
Tortilla King Inc.(#,^)249 23rd Ave, Moundridge, KS 67107Food ManufacturingTerm LoanPrime plus 2.75%3/14/203941.3  41.3  48.8  0.02 %
R & R Boyal LLC dba Cap N Cat Clam Bar and Little Ease Tavern(#,^)3111 & 3135 Delsea Drive, Franklinville, NJ 08322Food and Beverage StoresTerm LoanPrime plus 2.75%2/28/2039371.8  371.8  438.7  0.14 %
Faith Memorial Chapel LLC(#,^)600 9th Ave North, Bessemer, AL 35020Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2039190.8  190.8  225.0  0.07 %
952 Boston Post Road Realty, LLC and HNA LLC dba Styles International(#,^)952 Boston Post Rd, Milford, CT 06460Personal and Laundry ServicesTerm LoanPrime plus 2.75%2/28/2039184.2  184.2  217.3  0.07 %
Summit Beverage Group LLC(#,^)211 Washington Ave, Marion, VA 24354Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%2/28/2024177.7  177.7  185.2  0.06 %
96 Mill Street LLC, Central Pizza LLC and Jason Bikakis George Bikaki(#,^)96 Mill St., Berlin, CT 06037Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/12/2039126.8  126.8  149.8  0.05 %
263
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
JWB Industries, Inc. dba Carteret Die Casting(#,^)74 Veronica Ave, Somerset, NJ 08875Primary Metal ManufacturingTerm LoanPrime plus 2.75%2/11/2024141.9  141.9  147.3  0.05 %
986 Dixwell Avenue Holding Company, LLC and Mughali Foods, LLC(#,^)986 Dixwell Ave, Hamden, CT 06510Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/7/203988.6  88.6  104.6  0.03 %
Sarah Sibadan dba Sibadan Agency(#,^)102-05 101st Ave, Ozone Park, NY 11416Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%1/27/2039114.9  114.9  135.7  0.04 %
Icore Enterprises Inc dba Air Flow Filters Inc(#,^)151 W 24th St, Hialeah, FL 33010Miscellaneous ManufacturingTerm LoanPrime plus 2.75%1/15/202410.8  10.8  11.3  — %
Nutmeg North Associates LLC, Steeltech Building Products Inc(#,^)636 Nutmeg Rd North, South Windsor, CT 06074Construction of BuildingsTerm LoanPrime plus 2.75%12/31/2038812.1  812.1  957.6  0.30 %
KK International Trading Corporation(#,^)219 Lafayette Drive, Syosset, NY 11791Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%12/23/2028136.4  136.4  148.7  0.05 %
Kurtis Sniezek dba Wolfe's Foreign Auto(#,^)712 5th St., New Brighton, PA 15066Repair and MaintenanceTerm LoanPrime plus 2.75%12/20/203878.7  78.7  92.9  0.03 %
TAK Properties LLC and Kinderland Inc(#,^)1157 Commerce Ave, Longview, WA 98632Social AssistanceTerm LoanPrime plus 2.75%12/18/2038359.0  359.0  422.8  0.13 %
TOL LLC dba Wild Birds Unlimited(#,^)320 W. Main St., Avon, CT 06001Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%12/13/20239.1  9.1  9.4  — %
920 CHR Realty LLC, V. Garofalo Carting Inc(#,^)920 Crooked Hill, Brentwood, NY 11717Waste Management and Remediation ServicesTerm LoanPrime plus 2.75%12/10/2038370.3  370.3  436.8  0.14 %
DKB Transport Corp(#,^)555 Water Works Rd, Old Bridge, NJ 08857Truck TransportationTerm LoanPrime plus 2.75%12/5/2038123.0  123.0  145.0  0.05 %
Firm Foundations Inc David S Gaitan Jr and Christopher K Daigle(#,^)1455 S Richland Creek Rd, Sugar HIll, GA 30518Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/3/203892.4  92.4  108.6  0.03 %
Spectrum Development LLC and Solvit Inc & Solvit North, Inc(#,^)65 Farmington Valley Drive, Plainville, CT 06062Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/2/2023190.0  190.0  196.9  0.06 %
BVIP Limousine Service LTD(#,^)887 W Liberty, Medina, OH 44256Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%11/27/203867.6  67.6  79.7  0.02 %
AcuCall LLC(#,^)824 U.S Hwy 1, Ste 335, North Palm Beach, FL 33408Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%11/21/20237.4  7.4  7.6  — %
Kids in Motion of Springfield LLC dba The Little Gym of Springfield IL(#,^)3039-3043 Hedley, Springfield, IL 62704Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%11/18/202322.3  22.3  23.1  0.01 %
Yousef Khatib dba Y&M Enterprises(#,^)671 E. Cooley Drive, Unit 114, Colton, CA 92324Wholesale Electronic Markets and Agents and BrokersTerm LoanPrime plus 2.75%11/15/202336.0  36.0  37.3  0.01 %
Howell Gun Works LLC(#,^)2446 Route 9, Howell, NJ 07731Sporting Goods, Hobby, Musical Instrument, and Book StoresTerm LoanPrime plus 2.75%11/14/20232.2  2.2  2.3  — %
264
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Polpo Realty, LLC, Polpo Restaurant, LLC(#,^)554 Old Post Rd #3, Greenwich, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/6/203855.6  55.6  65.6  0.02 %
1 North Restaurant Corp dba 1 North Steakhouse(#,^)322 W. Montauk Hwy, Hampton Bays, NY 11946Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/31/2038187.7  187.7  221.4  0.07 %
Master CNC Inc & Master Properties LLC(#,^)11825 29 Mile Rd, Washington, MI 48095Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%10/31/2038526.2  526.2  619.0  0.19 %
Janice B. McShan and The Metropolitan Day School, LLC(#,^)2817 Lomb Ave, Birmingham, AL 35208Social AssistanceTerm LoanPrime plus 2.75%10/31/202320.5  20.5  21.3  0.01 %
Mid-Land Sheet Metal Inc(#,^)125 E Fesler St., Santa Maria, CA 93454Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/31/2038121.4  121.4  143.1  0.04 %
Greenbrier Technical Services, Inc(#,^)407 E. Edgar Ave, Ronceverte, WV 24970Repair and MaintenanceTerm LoanPrime plus 2.75%10/24/202397.2  97.2  101.0  0.03 %
Clairvoyant Realty Corp. and Napoli Marble & Granite Design, Ltd(#,^)77 Mill Rd, Freeport, NY 11520Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/24/2038130.7  130.7  154.1  0.05 %
First Steps Real Estate Company, LLC and First Steps Preschool(#,^)104 McCoy St., Milford, DE 19963Social AssistanceTerm LoanPrime plus 2.75%9/30/203885.8  85.8  101.0  0.03 %
Cencon Properties LLC and Central Connecticut Warehousing Company(#,^)37 Commons Court, Waterbury, CT 06704Warehousing and StorageTerm LoanPrime plus 2.75%9/30/2038303.4  303.4  357.9  0.11 %
Discount Wheel and Tire of Broken Bow Inc(#,^)1202 S Park Drive, Broken Bow, OK 74728Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%9/30/2038196.7  196.7  231.7  0.07 %
Lenoir Business Partners LLC LP Industries, Inc dba Childforms(#,^)2040 Norwood, Lenoir, NC 28645Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%9/30/2038260.1  260.1  306.6  0.10 %
LP Industries, Inc dba Childforms(#,^)110 Charleston Dr. Ste 105, Morresville, NC 28117Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%9/30/2038106.0  106.0  125.0  0.04 %
Mitchellville Family Dentistry, Dr. Octavia Simkins-Wiseman DDS PC(#,^)12150 Annapolis Rd, Ste 301, Glenn Dale, MD 20769Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/27/2038294.6  294.6  347.2  0.11 %
Gabrielle Realty, LLC(#,^)242 Sheep Davis Rd, Concord, NH 03301Gasoline StationsTerm LoanPrime plus 2.75%9/27/2038666.2  666.2  784.2  0.24 %
Eastside Soccer Dome, Inc .(#,^)11919 S Ave O, Chicago, IL 60617Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/26/2038407.8  407.8  481.0  0.15 %
Anthony C Dinoto and Susan S P Dinoto and Anthony C Dinoto Funeral(#,^)17 Pearl St., Mystic, CT 06355Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/26/203887.9  87.9  103.7  0.03 %
Southeast Chicago Soccer, Inc.(#,^)10232 S Ave N, Chicago, IL 60617Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/26/203845.0  45.0  53.1  0.02 %
Kiddie Steps 4 You Inc.(#,^)1700 West 63rd St., Chicago, IL 60636Social AssistanceTerm LoanPrime plus 2.75%9/25/203880.0  80.0  93.9  0.03 %
Diamond Memorials Incorporated(#,^)800 Broad St., Clifton, NJ 07013Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/25/20232.7  2.7  2.8  — %
265
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Serious-Fun in Alpharetta, LLC dba The Little Gym of Alpharetta(#,^)11585 Jones Bridge Rd, Ste 4G, Johns Creek, GA 30022Educational ServicesTerm LoanPrime plus 2.75%9/20/202321.5  21.5  22.2  0.01 %
Faith Memorial Chapel LLC(#,^)600 9th Ave N, Bessemer, AL 35020Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/20/2038236.1  236.1  277.5  0.09 %
Maynard Enterprises Inc dba Fastsigns of Texarkana(#,^)3735 Mall Drive, Texarkana, TX 75501Miscellaneous Store RetailersTerm LoanPrime plus 2.75%9/18/20237.5  7.5  7.8  — %
Grafio Inc dba Omega Learning Center-Acworth(#,^)5330 Brookstone Drive, Ste 320, Acworth, GA 30101Educational ServicesTerm LoanPrime plus 2.75%9/13/202376.7  76.7  79.3  0.02 %
The Berlerro Group, LLC dba Sky Zone(#,^)111 Rodeo Drive, Edgewood, NY 11717Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/12/2023199.3  199.3  206.0  0.06 %
Sound Manufacturing Inc(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/12/202838.4  38.4  41.7  0.01 %
Prospect Kids Academy Inc(#,^)532 St Johns Place, Brooklyn, NY 11238Educational ServicesTerm LoanPrime plus 2.75%9/11/2038109.3  109.3  128.6  0.04 %
Alma J. and William R. Walton and Almas Child Day Care Center(#,^)2909 W 63rd St., Chicago, IL 60629Social AssistanceTerm Loan8%9/11/203835.1  35.1  33.6  0.01 %
B for Brunette dba Blo(#,^)50 Glen Cove Rd, Greenvale, NY 11548Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/10/202325.0  25.0  25.8  0.01 %
Schmaltz Holdings, LLC and Schmaltz Operations, LLC(#,^)3408 Castle Rock Farm Rd, Pittsboro, NC 27312Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/4/2038195.9  195.9  230.0  0.07 %
IlOKA Inc dba Microtech Tel and NewCloud Networks(#,^)160 Inverness Dr W Ste 100, Englewood, CO 80112Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/30/2023294.8  294.8  304.8  0.09 %
ACI Northwest Inc.(#,^)6600 N Government Way, Coeur D Alene, ID 83815Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%8/30/2023245.8  245.8  254.9  0.08 %
Gulfport Academy Child Care and Learning Center, Inc. and Jennifer(#,^)15150 Evans St., Gulfport, MS 39503Social AssistanceTerm LoanPrime plus 2.75%8/30/202319.6  19.6  20.3  0.01 %
Ramard Inc and Advanced Health Sciences Inc(#,^)4561 Ironworks Pike, Ste 161, Lexington, KY 40511Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%8/28/202385.1  85.1  87.7  0.03 %
RM Hawkins LLC dba Pure Water Tech West and Robert M Hawkins(#,^)1815 De Paul St., Colorado Springs, CO 80909Nonstore RetailersTerm LoanPrime plus 2.75%8/26/202336.4  36.4  37.7  0.01 %
JSIL LLC dba Blackstones Hairdressing(#,^)19 East 7th St., New York, NY 10003Personal and Laundry ServicesTerm LoanPrime plus 2.75%8/16/20238.7  8.7  9.0  — %
Caribbean Concepts, Inc. dba Quick Bleach(#,^)120 East 56th St., Ste 730, New York, NY 10022Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%8/12/202310.1  10.1  10.5  — %
Daniel W and Erin H Gordon and Silver Lining Stables CT, LLC(#,^)38 Carmen Lane, Monroe, CT 06468Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%7/24/20235.3  5.3  5.5  — %
Angkor Restaurant Inc(#,^)10 Traverse St., Providence, RI 02903Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/19/203881.4  81.4  95.9  0.03 %
266
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Tri County Heating and Cooling Inc.(#,^)509 East Park St., Livingston, MT 59047Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/19/202339.1  39.1  40.5  0.01 %
Harbor Ventilation Inc and Estes Investment, LLC(#,^)509 East Park St., Livingston, MT 59047Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/19/20382.1  2.1  2.4  — %
Morning Star Trucking LLC and Morning Star Equipment and Leasing LLC(#,^)1 Poppy Ave, Neptune, NJ 07753Truck TransportationTerm LoanPrime plus 2.75%7/17/202323.9  23.9  24.6  0.01 %
Maxiflex LLC(#,^)512 Verret St., New Orleans, LA 70114Miscellaneous ManufacturingTerm LoanPrime plus 2.75%6/28/202319.5  19.5  20.2  0.01 %
GIA Realty LLC and VRAJ GIA LLC dba Lakeview Laundromat(#,^)411 Sharp St., Millville, NJ 08332Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/28/203885.0  85.0  100.5  0.03 %
2161 Highway 6 Trail, LLC, R. H. Hummer JR., Inc.(#,^)2141 P Ave, Williamsburg, IA 52361Truck TransportationTerm LoanPrime plus 2.75%6/19/2026398.3  398.3  425.4  0.13 %
Blakeslee Arpaia Chapman, Inc. dba Blakeslee Industrial Services(#,^)200 North Branford Rd, Branford, CT 06405Heavy and Civil Engineering ConstructionTerm LoanPrime plus 2.75%6/18/2028601.8  601.8  654.9  0.20 %
KDP LLC and KDP Investment Advisors, Inc and KDP Asset Management, Inc(#,^)24 Elm St., Montpelier, VT 05602Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%6/14/2023149.7  149.7  155.0  0.05 %
Elite Structures Inc(#,^)401 Old Quitman Rd, Adel, GA 31620Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%6/12/2038777.1  777.1  916.8  0.28 %
Absolute Desire LLC and Mark H. Szierer Sophisticated Smile(#,^)85 Reaville Ave, Flemington, NJ 08822Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/5/2038164.7  164.7  194.3  0.06 %
Gregory P Jellenek OD and Associates PC dba Gregory P Jellenek OD(#,^)4640 Monticello Ave, Ste 8A, Williamsburg, VA 23188Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%5/28/202326.7  26.7  27.7  0.01 %
Ryan D. Thornton and Thornton & Associates LLC(#,^)800 Bethel St., Ste 200, Honolulu, HI 96813Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%5/24/202321.3  21.3  22.1  0.01 %
Peanut Butter & Co., Inc.(#,^)250 West 54th St., New York, NY 10019Food ManufacturingTerm LoanPrime plus 2.75%4/30/202341.5  41.5  42.9  0.01 %
1258 Hartford TPKE, LLC and Phelps and Sons, Inc(#,^)1258 Hartford Turnpike, Vernon, CT 06066Miscellaneous Store RetailersTerm LoanPrime plus 2.75%3/29/2038108.0  108.0  127.4  0.04 %
A & M Commerce, Inc. dba Cranberry Sunoco(#,^)398 Baltimore Blvd, Westminster, MD 21157Gasoline StationsTerm LoanPrime plus 2.75%3/27/2038286.1  286.1  337.0  0.10 %
Xela Pack, Inc. and Aliseo and Catherine Gentile(#,^)8300 Boettner Rd, Saline, MI 48176Paper ManufacturingTerm LoanPrime plus 2.75%3/27/2028187.9  187.9  204.1  0.06 %
American Diagnostic Imaging, Inc. dba St. Joseph Imaging Center(#,^)3937 Sherman Ave, Saint Joseph, MO 64506Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/25/2038465.9  465.9  548.7  0.17 %
Michael A.and HeatherR. Welsch dba Art & FrameEtc.(#,^)2819 West T C Jester Blvd., Houston, TX 77018Miscellaneous Store RetailersTerm LoanPrime plus 2.75%3/22/203858.5  58.5  68.9  0.02 %
267
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Truth Technologies Inc dba Truth Technologies Inc.(#,^)2341 Cheshire Lane, Naples, FL 34109Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/21/202335.2  35.2  36.3  0.01 %
Sound Manufacturing, Inc. and Monster Power Equipment Inc.(#,^)51 Donnelley Rd, Old Saybrook, CT 06475Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%3/15/2023199.4  199.4  206.1  0.06 %
Golden Gate Lodging LLC(#,^)432 Margaret St.,, Plattsburgh, NY 12901AccommodationTerm LoanPrime plus 2.75%3/12/203899.7  99.7  117.5  0.04 %
Bakhtar Group LLC dba Malmaison(#,^)3401 K St. NW, Washington, DC 20007Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/28/202338.2  38.2  39.4  0.01 %
Osceola River Mill, LLC, Ironman Machine, Inc.(#,^)27 Hungerford St., Pittsfield, MA 01201Machinery ManufacturingTerm LoanPrime plus 2.75%2/20/203874.6  74.6  87.8  0.03 %
Java Warung, LLC(#,^)1915 N Richmond St., Appleton, WI 54911Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/19/203844.2  44.2  52.0  0.02 %
Retain Loyalty LLC(#,^)1250 Sanders Ave SW, Massillon, OH 44647Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%2/15/203893.7  93.7  110.4  0.03 %
North Country Transport, LLC(#,^)10 LaCrosse St., Ste 14, Hudson Falls, NY 12839Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%2/6/20236.1  6.1  6.3  — %
Sherill Universal City dba Golden Corral LP(#,^)2301 Pat Booker Rd, Universal City, TX 78148Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/28/2038381.4  381.4  449.4  0.14 %
Macho LLC, Madelaine Chocolate Novelties Inc(#,^)96-03 Beach Channel Drive, Rockaway Beach, NY 11693Food ManufacturingTerm LoanPrime plus 2.75%12/31/2037432.4  432.4  509.5  0.16 %
Babie Bunnie Enterprises Inc dba Triangle Mothercare(#,^)8516 Swarthmore Drive, Raleigh, NC 27615Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/28/202727.5  27.5  29.8  0.01 %
Polpo Realty LLC & Polpo Restaurant LLC(#,^)554 Old Post Rd #3, Greenwich, CT 06830Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/27/2037450.8  450.8  531.2  0.16 %
Martin L Hopp, MD PHD A Medical Corp dba Tower ENT(#,^)8631 West Third St, 440 E &, Los Angeles, CA 90048Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/21/202225.1  25.1  25.9  0.01 %
Cheryle A Baptiste and Cheryle Baptiste DDS PLLC(#,^)4839 Wisconsin Ave NW Ste 2, Washington, DC 20016Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/30/2037251.6  251.6  295.9  0.09 %
Daniel Gordon and Erin Gordon and Silver Lining Stables CT, LLC(#,^)38 Carmen Lane, Monroe, CT 06468Support Activities for Agriculture and ForestryTerm LoanPrime plus 2.75%11/28/2037196.5  196.5  231.1  0.07 %
Richmond Hill Mini Market, LLC(#,^)101 Richmond Hill Ave, Stamford, CT 06902Food and Beverage StoresTerm LoanPrime plus 2.75%11/27/2037158.9  158.9  186.8  0.06 %
D&L Rescources, Inc. dba The UPS Store(#,^)8930 State Rd # 84, Davie, FL 33324Miscellaneous Store RetailersTerm LoanPrime plus 2.75%11/27/20223.6  3.6  3.7  — %
DRV Enterprise, Inc. dba Cici's Pizza # 339(#,^)5771 East Fowler Ave, Temple Terrace, FL 33617Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/26/202222.5  22.5  23.1  0.01 %
U & A Food and Fuel, Inc. dba Express Gas & Food Mart(#,^)1345 Wampanoag Trail, East Providence, RI 02915Gasoline StationsTerm LoanPrime plus 2.75%11/21/203782.6  82.6  97.2  0.03 %
268
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Pioneer Windows Manufacturing Corp, Pioneer Windows(#,^)15 Frederick Place, Hicksville, NY 11801Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%11/21/2022100.5  100.5  103.5  0.03 %
R & J Petroleum LLC, Manar USA, Inc.(#,^)305 Quincy Shore Drive, Quincy, MA 02107Gasoline StationsTerm LoanPrime plus 2.75%11/20/2037154.4  154.4  181.6  0.06 %
St Judes Physical Therapy P.C.(#,^)7712 Fourth Ave, Brooklyn, NY 11209Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%11/19/20227.7  7.7  7.9  — %
Hi-Def Imaging, Inc. dba SpeedPro Imaging(#,^)3580 Progress Drive, Unit Q, Bensalem, PA 19020Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%11/9/20228.2  8.2  8.5  — %
Reidville Hydraulics Mfg Inc dba Summit(#,^)175 Industrial Lane, Torrington, CT 06790Machinery ManufacturingTerm LoanPrime plus 2.75%11/2/2037228.3  228.3  268.3  0.08 %
Big Apple Entertainment Partners, LLC d/b/a Ripley's Believe It or Not(#,^)234 West 42nd St., New York, NY 10036Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%10/26/202266.6  66.6  68.6  0.02 %
University Park Retreat, LLC dba Massage Heights(#,^)5275 University Parkway # 110, Bradenton, FL 34201Personal and Laundry ServicesTerm LoanPrime plus 2.75%9/27/202226.7  26.7  27.5  0.01 %
O'Rourkes Diner LLC dba O'Rourke's Diner(#,^)728 Main St., Middletown, CT 06457Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/19/203755.9  55.9  65.6  0.02 %
AJK Enterprise LLC dba AJK Enterprise LLC(#)1901 Naylor Rd, SE, Washington, DC 20020Truck TransportationTerm LoanPrime plus 2.75%8/27/20225.5  5.5  5.6  — %
Suncoast Aluminum Furniture, Inc(#,^)6291 Thomas Rd, Fort Myers, FL 33912Furniture and Related Product ManufacturingTerm LoanPrime plus 2.75%8/17/2037306.7  306.7  360.1  0.11 %
Hofgard & Co., Inc. dba HofgardBenefits(#,^)400 S McCaslin Blvd Ste 201, Louisville, CO 80027Insurance Carriers and Related ActivitiesTerm LoanPrime plus 2.75%7/27/202235.7  35.7  36.6  0.01 %
Georgia Safe Sidewalks LLC(#,^)1740 Wheatstone Drive, Grayson, GA 30017Specialty Trade ContractorsTerm LoanPrime plus 2.75%7/27/20224.9  4.9  5.1  — %
Central Tire, Inc. dba Cooper Tire & Auto Services(#,^)1111 S Tillotson Ave, Muncie, IN 47304Repair and MaintenanceTerm LoanPrime plus 2.75%6/29/2037244.1  244.1  286.9  0.09 %
KIND-ER-ZZ Inc dba Kidville(#,^)30 Maple St., Summit, NJ 07901Educational ServicesTerm LoanPrime plus 2.75%6/15/202216.0  16.0  16.4  0.01 %
Graphish Studio, Inc. and Scott Fishoff(#,^)231 Main St., Stanford, CT 06901Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%6/14/20226.4  6.4  6.6  — %
ALF, LLC, Mulit-Service Eagle Tires(#,^)1985 B St., Colorado Springs, CO 80906Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%5/31/203753.1  53.1  62.2  0.02 %
Tracey Vita-Morris dba Tracey Vita's School of Dance(#,^)4181 9th Ave West, Bradenton, FL 34025Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%5/10/20227.1  7.1  7.2  — %
Tanner Optical, Inc. dba Murphy Eye Care(#,^)305 Shirley Ave, Douglas, GA 31533Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%4/27/20222.4  2.4  2.5  — %
Access Staffing, LLC(#,^)360 Lexington Ave, 8th Fl, New York, NY 10017Administrative and Support ServicesTerm LoanPrime plus 2.75%3/30/202259.1  59.1  60.5  0.02 %
Manuel P. Barrera and Accura Electrical Contractor, Inc.(#,^)6187 NW 167th St. Unit H3, Miami, FL 33015Specialty Trade ContractorsTerm LoanPrime plus 2.75%3/23/202866.7  66.7  72.4  0.02 %
269
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
DC Realty, LLC dba FOGO Data Centers(#)340 Tom Reeve Drive, Carrolton, GA 30117Professional, Scientific, and Technical ServicesTerm Loan6.25%3/23/2022449.7  449.7  445.3  0.14 %
DC Realty, LLC dba FOGO Data Centers(#)340 Tom Reeve Drive, Carrolton, GA 30117Professional, Scientific, and Technical ServicesTerm Loan6%3/23/20372,623.4  2,623.4  2,519.4  0.78 %
Shweiki Media, Inc. dba Study Breaks Magazine(#,^)4954 Space Center Drive, San Antonio, TX 78218Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/22/2027724.9  724.9  780.1  0.24 %
ATI Jet, Inc.(#)7007 Boeing Drive, El Paso, TX 79925Air TransportationTerm LoanPrime plus 2.75%12/28/2026532.8  532.8  572.0  0.18 %
J. Kinderman & Sons, Inc. dba Brite Star Manufacturing Company(#,^)2900 South 20th St., Philadelphia, PA 19145Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/22/2036343.8  343.8  401.9  0.12 %
K's Salon, LLC d/b/a K's Salon(#,^)162 West 84th St., New York, NY 10024Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/20/202119.5  19.5  19.9  0.01 %
15 Frederick Place LLC & Pioneer Windows Holdings Inc & Subs(#,^)15 Frederick Place, Hicksville, NY 11801Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/16/202163.7  63.7  65.0  0.02 %
Taylor Transport, Inc(#,^)1708 HWY 113 SW, CARTERSVILLE, GA 30120Truck TransportationTerm LoanPrime plus 2.75%12/8/202164.2  64.2  65.6  0.02 %
K9 Bytes, Inc & Epazz, Inc dba K9 Bytes, Inc(#)325 N. Milwaukee Ave, Ste G1, Wheeling, IL 60090Publishing Industries (except Internet)Term LoanPrime plus 2.75%10/26/202117.1  17.1  17.5  0.01 %
28 Cornelia Street Properties, LLC and Zouk, Ltd.dba Palma(#,^)28-28 1/2 Cornelia St., New York, NY 10014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/25/20215.3  5.3  5.4  — %
39581 Garfield, LLC and Tri County Neurological Associates, P.C.(#,^)39581 Garfield Rd, Clinton Township, MI 48038Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/203668.3  68.3  79.8  0.02 %
Robert E. Caves, Sr. and American Plank dba Caves Enterprises(#,^)40515 Pumpkin Center Rd, Hammond, LA 70403Merchant Wholesalers, Durable GoodsTerm LoanPrime plus 2.75%9/30/202169.0  69.0  70.5  0.02 %
39581 Garfield, LLC and Tricounty Neurological Associates, P.C.(#,^)39581 Garfield Rd, Clinton Township, MI 48038Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%9/30/203623.2  23.2  27.1  0.01 %
Big Apple Entertainment Partners, LLC dba Ripley's Believe it or Not(#,^)234 West 42nd St., New York, NY 10036Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%9/28/2021239.7  239.7  244.1  0.08 %
Michael S. Decker & Janet Decker dba The Hen House Cafe(#)401 Caribou St., Simla, CO 80835Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/30/203613.8  13.8  16.2  0.01 %
Trademark Equipment Company Inc and David A. Daniel(#,^)5690 Pine Lane Circle, Bessemer, AL 35022Miscellaneous Store RetailersTerm LoanPrime plus 2.75%8/19/2036109.9  109.9  128.3  0.04 %
Valiev Ballet Academy, Inc(#,^)635 - 637 Londonderry Lane, Denton, TX 76205Performing Arts, Spectator Sports, and Related IndustriesTerm LoanPrime plus 2.75%8/12/203634.9  34.9  40.7  0.01 %
270
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
LaHoBa, LLC d/b/a Papa John's(#,^)3001 Pontchartrain Drive, Slidell, LA 70458Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/3/203663.3  63.3  73.9  0.02 %
Lavertue Properties LLP dba Lavertue Properties(#,^)24 Wakefield St., Rochester, NH 13867Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 2.75%6/29/203636.7  36.7  42.9  0.01 %
Lisle Lincoln II Limited Partnership dba Lisle Lanes LP(#,^)4920 Lincoln Ave Rte 53, Lisle, IL 60532Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%6/29/2036287.3  287.3  335.4  0.10 %
Peanut Butter & Co., Inc. d/b/a Peanut Butter & Co.(#,^)1790 Broadway Ste 716, New York, NY 10019Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%6/3/20218.9  8.9  9.0  — %
Modern on the Mile, LLC dba Ligne Roset(#,^)162 N. 3rd St., Philadelphia, PA 19106Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%5/25/202139.0  39.0  39.7  0.01 %
Profile Performance, Inc. and Eidak Real Estate, L.L.C.(#,^)44600 Michigan Ave, Canton, MI 48188Repair and MaintenanceTerm LoanPrime plus 2.75%4/20/2036103.5  103.5  120.7  0.04 %
Northwind Outdoor Recreation, Inc. dba Red Rock Wilderness Store(#,^)2267 Fernberg Trail, Ely, MN 55731Nonstore RetailersTerm LoanPrime plus 2.75%4/18/2036113.8  113.8  132.7  0.04 %
Michael S. Korfe dba North Valley Auto Repair(#,^)7516 B 2nd St., NW, Albuquerque, NM 87107Repair and MaintenanceTerm LoanPrime plus 2.75%3/24/203612.5  12.5  14.6  — %
Actknowledge,Inc dba Actknowledge(#,^)365 Fifth Ave, New York, NY 10016Personal and Laundry ServicesTerm LoanPrime plus 2.75%3/21/20219.9  9.9  10.1  — %
Stephen Frank, Patricia Frank and Suds Express LLC(#,^)520 E. 8th St., Anderson, IN 46012Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%2/25/202320.6  20.6  21.3  0.01 %
SuzyQue’s LLC dba Suzy Que’s(#,^)34 South Valley Rd, West Orange, NJ 07052Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/11/203649.4  49.4  57.4  0.02 %
Little People’s Village, LLC dba Little People’s Village(#,^)904 North 66th St., Philadelphia, PA 19151Social AssistanceTerm LoanPrime plus 2.75%1/31/203625.0  25.0  29.1  0.01 %
Seagate Group Holdings, Inc. dba Seagate Logistics, Inc.(#,^)64-68 North Central Ave, Valley Stream, NY 11580Support Activities for TransportationTerm LoanPrime plus 2.75%1/28/203691.3  91.3  106.2  0.03 %
Shree OM Lodging, LLC dba Royal Inn(#,^)2030 W Northwest Hwy, Dallas, TX 75220AccommodationTerm LoanPrime plus 2.75%12/17/203522.2  22.2  25.8  0.01 %
Lodin Medical Imaging, LLC dba Watson Imaging Center(#,^)3915 Watson Rd, St. Louis, MO 63109Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/1/20209.2  9.2  9.3  — %
Robert F. Schuler and Lori A. Schuler dba Bob’s Service Center(#,^)2879 Limekiln Pike, Glenside, PA 19038Repair and MaintenanceTerm LoanPrime plus 2.75%11/30/203527.2  27.2  31.6  0.01 %
Elan Realty, LLC and Albert Basse Asociates, Inc.(#,^)175 Campanelli Park Way, Stroughton, MA 02072Printing and Related Support ActivitiesTerm LoanPrime plus 2.75%9/30/2035180.6  180.6  209.6  0.07 %
K9 Bytes, Inc & Epazz, Inc(#)325 N. Milwaukee Ave, Ste G1, Wheeling, IL 60090Publishing Industries (except Internet)Term LoanPrime plus 2.75%9/30/20202.8  2.8  2.8  — %
271
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Success Express,Inc. dba Success Express(#,^)550 Eighth Ave, New York, NY 10018Couriers and MessengersTerm LoanPrime plus 2.75%9/29/20208.4  8.4  8.5  — %
Modern Manhattan, LLC(#,^)162 N 3rd St., Philadelphia, PA 19106Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%9/20/202022.4  22.4  22.6  0.01 %
Dirk's Trucking, L.L.C. dba Dirk's Trucking(#)1041 John D Hebert Rd, Breaux Bridge, LA 70517Truck TransportationTerm LoanPrime plus 2.75%9/17/20202.3  2.3  2.4  — %
Rudy & Louise Chavez dba Clyde's Auto and Furniture Upholstery(#,^)2320 2nd St., Albuquerque, NM 87107Repair and MaintenanceTerm LoanPrime plus 2.75%9/2/203539.8  39.8  46.1  0.01 %
Newsome Trucking Inc and Kevin Newsome(#,^)2262 HWY 53W, Jasper, GA 30143Truck TransportationTerm LoanPrime plus 2.75%9/2/2035197.5  197.5  228.9  0.07 %
Members Only Software, Inc(#,^)1250 Connecticut Ave NW 200, Washington, DC 20036Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%8/30/20203.6  3.6  3.6  — %
ActKnowledge,Inc dba ActKnowledge(#,^)365 Fifth Ave, New York, NY 10016Personal and Laundry ServicesTerm LoanPrime plus 2.75%6/30/20203.9  3.9  3.9  — %
I-90 RV & Auto Supercenter(#,^)4505 South I-90 Service Rd, Rapid City, SD 57703Motor Vehicle and Parts DealersTerm LoanPrime plus 2.75%6/29/203558.9  58.9  68.3  0.02 %
Zouk, Ltd. dba Palma(#,^)28 Cornelia St., New York, NY 10014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/25/20202.4  2.4  2.5  — %
Tanner Optical Inc. dba Murphy Eye Care(#,^)305 Shirley Ave, Douglas, GA 31533Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/22/203574.7  74.7  86.3  0.03 %
ValleyStar, Inc. dba BrightStar Healthcare(#)5900 Sepulveda Blvd, Van Nuys, CA 91411Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%6/28/20200.4  0.4  0.4  — %
New Economic Methods LLC dba Rita's(#)1014 H St. NE, Washington, DC 20002Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/20200.2  0.2  0.2  — %
Lahoba,LLC dba Papa John's Pizza(#,^)620 W. Judge Perez Drive, Chalmette, LA 70163Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/30/203433.0  33.0  38.1  0.01 %
Animal Intrusion Prevention Systems Holding Company, LLC(#,^)3330 North Beach St., Haltom City, TX 76111Administrative and Support ServicesTerm LoanPrime plus 2.75%3/29/202420.7  20.7  21.6  0.01 %
KMC RE, LLC & B&B Kennels(#,^)6004 City Park Rd, Austin, TX 78730Personal and Laundry ServicesTerm LoanPrime plus 2.75%11/19/203445.0  45.0  51.9  0.02 %
ROVER REPAIRS(#,^)301 Macdade Blvd, COLLINGDALE, PA 19023Repair and MaintenanceTerm LoanPrime plus 2.5%11/28/202945.5  45.5  49.7  0.02 %
The Alba Financial Group, Inc.(#,^)1420 Spring Hill Rd, McLain, VA 22102Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm Loan6%3/10/20213.8  3.8  3.8  — %
D & D's Divine Beauty School of Esther, LLC(#,^)5524 Germantown Ave, Philadelphia, PA 19144Educational ServicesTerm Loan6%8/1/203144.0  44.0  42.6  0.01 %
Bliss Coffee and Wine Bar, LLC(#)1402-A Handlir Drive, Bel Air, MD 21015Food Services and Drinking PlacesTerm Loan6%11/30/202264.1  64.1  63.3  0.02 %
Zog Inc.(#,^)595 Bethlehem Pike #404, Montgomeryville, PA 18936Other Information ServicesTerm LoanPrime plus 2.75%4/30/202013.6  13.6  13.7  — %
272
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
Connect Litigation Technology, Inc.(#,^)1101 Ivy Hill Rd, #4, Philadelphia, PA 19150Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2%10/18/202520.0  20.0  20.8  0.01 %
1911 East Main Street Holdings, Corp(#,^)1911 East Main St., Endicott, NY 13760Repair and MaintenanceTerm LoanPrime plus 2.75%5/18/203210.9  10.9  12.3  — %
Water Works Laundromat, LLC(#)968-970 Bergen St., Newark, NJ 07104Personal and Laundry ServicesTerm LoanPrime plus 2.25%9/7/2027146.4  146.4  155.6  0.05 %
Dave Kris, and MDK Ram Corp.(#,^)15 Elm Park, Groveland, MA 01930Food and Beverage StoresTerm LoanPrime plus 2.75%2/5/202623.9  23.9  25.5  0.01 %
Gill Express Inc. dba American Eagle Truck Wash(#,^)12200 N. Holland, Oklahoma City, OK 73131Repair and MaintenanceTerm LoanPrime plus 2.75%1/5/2027145.6  145.6  156.8  0.05 %
Head To Toe Personalized Pampering, Inc.(#,^)2331 North State Rd 7, Lauderhill, FL 33313Personal and Laundry ServicesTerm LoanPrime plus 2.75%1/27/20317.7  7.7  8.6  — %
Christopher F. Bohon & Pamela D. Bohon(#,^)11600 County Rd 71, Lexington, AL 35648Social AssistanceTerm LoanPrime plus 2.75%10/28/20262.5  2.5  2.7  — %
Mogas Limited(#,^)47 Chestnut St., Elmer, NJ 08318Gasoline StationsTerm LoanPrime plus 2.75%5/31/203062.1  62.1  68.9  0.02 %
Shree Om Lodging, LLC dba Royal Inn(#,^)2030 W. Northwest Hwy, Dallas, TX 75220AccommodationTerm LoanPrime plus 2.75%5/2/203055.1  55.1  61.1  0.02 %
Moonlight Multi Media Production, Inc.(#,^)2700 W Cypress Creek Rd, Fort Lauderdale, FL 33309Other Information ServicesTerm Loan5.3%2/1/20251.6  1.6  1.6  — %
David M. Goens dba Superior Auto Paint & Body, Inc.(#)1912 Manhattan Ave, Harvey, LA 70058Repair and MaintenanceTerm Loan6%8/26/202411.9  11.9  11.7  — %
McCallister Venture Group, LLC and Maw's Vittles, Inc.(#,^)511 South Broad St., Brooksville, FL 34601Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/30/20299.8  9.8  10.8  — %
Chong Hun Im dba Kim's Market(#,^)730 East 28th St., Ogden, UT 84403Food and Beverage StoresTerm LoanPrime plus 2.5%2/27/20246.0  6.0  6.2  — %
Whirlwind Car Wash, Inc.(#)1370 Le Anne Marie Circle, Columbus, OH 43026Repair and MaintenanceTerm LoanPrime plus 2%4/9/202912.9  12.9  13.7  — %
Shuttle Car Wash, Inc. dba Shuttle Car Wash(#,^)745 Cheney Hwy, Ttitusville, FL 32780Repair and MaintenanceTerm LoanPrime plus 2.25%11/10/202814.1  14.1  15.1  — %
Min Hui Lin(#,^)1916 Broad St., Lanett, AL 36863Food Services and Drinking PlacesTerm LoanPrime plus 2.75%1/30/202814.1  14.1  15.3  — %
Delta Partners, LLC dba Delta Carwash(#,^)5640 Indian Crest Lane, Olympia, WA 98516Repair and MaintenanceTerm LoanPrime plus 2.5%4/5/202935.2  35.2  38.3  0.01 %
Auto Sales, Inc.(#,^)1925 State St., Hamden, CT 06417Motor Vehicle and Parts DealersTerm Loan6%8/17/20234.8  4.8  4.7  — %
Taste of Inverness, Inc. dba China Garden(#,^)1314 US Hwy 41 N, Inverness, FL 34450Food Services and Drinking PlacesTerm LoanPrime plus 2%6/29/20256.2  6.2  6.4  — %
Ralph Werner dba Werner Transmission Inc(#,^)259 East Central Ave, Bangor, PA 18013Gasoline StationsTerm LoanPrime plus 2.75%12/29/20211.0  1.0  1.1  — %
Robin C. & Charles E. Taylor & Brigantine Aquatic Center LLC(#,^)3118 Bayshore Ave, Brigantine, NJ 08203Amusement, Gambling, and Recreation IndustriesTerm Loan6%9/14/202325.5  25.5  25.2  0.01 %
273
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Accrual Investments (1) (22)271346
OrthoQuest, P.C.(#,^)2336 Wisteria Drive, Ste 430, Snellville, GA 30078Ambulatory Health Care ServicesTerm LoanPrime plus 2%3/12/20221.6  1.6  1.6  — %
Track Side Collision & Tire, Inc.(#,^)98-16 160 Ave, Ozone Park, NY 11414Plastics and Rubber Products ManufacturingTerm LoanPrime plus 2.75%6/16/20253.5  3.5  3.7  — %
Deesha Corporation, Inc. dba Best Inn & Suites(#,^)9225 Parkway East, Birmingham, AL 35206AccommodationTerm LoanPrime plus 2.25%2/14/202519.0  19.0  19.8  0.01 %
Maruti, Inc(#,^)1506 280 By-Pass, Phenix City, AL 36867AccommodationTerm LoanPrime plus 2.25%11/25/202414.6  14.6  15.2  — %
Randall D. & Patricia D. Casaburi dba Pat's Pizzazz(#,^)386 Winsted Rd, Torrington, CT 06790Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%3/13/20234.1  4.1  4.2  — %
Gain Laxmi, Inc. dba Super 8 Motel(#,^)14341 US Hwy 431 S, Gunterville, AL 35976AccommodationTerm LoanPrime plus 2.25%5/31/202311.9  11.9  12.2  — %
Naseeb Corporation(#,^)1696 North Broad St., Meriden, CT 06450AccommodationTerm LoanPrime plus 2.25%3/31/202419.2  19.2  19.9  0.01 %
Stillwell Ave Prep School(#,^)1990 Stillwell Ave, Brooklyn, NY 11214Social AssistanceTerm LoanPrime plus 2.75%1/14/20233.6  3.6  3.7  — %
Alyssa Corp dba Knights Inn(#,^)1105 Columbus Parkway, Opelika, AL 36801AccommodationTerm LoanPrime plus 2.25%9/30/202333.2  33.2  34.3  0.01 %
Bhailal Patel dba New Falls Motel(#,^)201 Lincoln Hwy, Fairless Hills, PA 19030AccommodationTerm LoanPrime plus 2.75%3/27/20231.6  1.6  1.7  — %
Pegasus Automotive, Inc.(#,^)3981 Hylan Blvd., Staten Island, NY 10308Gasoline StationsTerm LoanPrime plus 2.75%12/23/20224.9  4.9  5.1  — %
P. Agrino, Inc. dba Andover Diner(#,^)193 Main St., Andover, NJ 07860Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/18/20212.4  2.4  2.5  — %
Total SBA Unguaranteed Accrual Investments$370,612.2  $370,612.2  $382,986.3  118.86 %

SBA Unguaranteed Non-Accrual Investments (3) (22)271346
200 North 8th Street Associates LLC and Enchanted Acres(#)200 North 8th St., Reading, PA 19601Food ManufacturingTerm Loan6.25%5/4/2028445.6  445.6  352.6  0.11 %
Amboy Group, LLC dba Tommy Moloney's(#)1 Amboy Ave, Woodbridge, NJ 07095Food ManufacturingTerm Loan7%6/24/2025364.5  364.5  355.2  0.11 %
CLU Amboy, LLC and Amboy Group, LLC dba Tommy Moloney's(#)1 Amboy Ave, Woodbridge, NJ 07095Food ManufacturingTerm Loan7%12/27/2023455.7  455.7  414.2  0.13 %
Custom Software, Inc. a Colorado Corporation dba M-33 Access(#)380 E. Borden Rd, Rose City, MI 48654Professional, Scientific, and Technical ServicesTerm Loan6.25%6/17/2021233.3  233.3  114.4  0.04 %
Event Mecca LLC(#)141 South Waldron Lane, Wynantskill, NY 12198Other Information ServicesTerm Loan6%4/10/202311.0  11.0  1.2  — %
Hartford Cardiology Group LLC and Ideal Nutrition of Connecticut LLC(#,^)345 North Main St., West Hartford, CT 06117Ambulatory Health Care ServicesTerm Loan—%5/15/2024452.3  452.3  71.6  0.02 %
274
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
Kids at Heart,LLC dba Monster Mini Golf(#,^)10 Newbury St., Danvers, MA 01923Amusement, Gambling, and Recreation IndustriesTerm Loan6.75%9/22/202619.6  19.6  7.3  — %
Matchless Transportation LLC dba First Class Limo(#)31525 Aurora Rd # 5, Solon, OH 44139Transit and Ground Passenger TransportationTerm Loan6.25%5/31/2020119.6  119.6  12.2  — %
Morris Glass and Construction Inc(#)40058 Hwy 30, Astoria, OR 97103Specialty Trade ContractorsTerm Loan15%10/1/2023405.2  405.2  222.8  0.07 %
Sourceco Limited Liability Company(#,^)17 Palmer Ave, West Long Branch, NJ 07764Merchant Wholesalers, Nondurable GoodsTerm Loan6.5%12/17/202537.0  37.0  32.5  0.01 %
TX Superior Communications, LLC(#,^)6223 Krempen Ave, San Antonio, TX 78233Specialty Trade ContractorsTerm Loan8%3/19/202885.5  85.5  47.4  0.01 %
6 Price Avenue, LLC and Pauley Tree & Lawn Care, Inc(*,#)6 Price Ave, Norwalk, CT 06840Administrative and Support ServicesTerm Loan8%9/24/2039237.3  237.3  225.1  0.07 %
Pauley Tree and Lawn Care Inc(*,#)6 Price Ave, Norwalk, CT 06854Administrative and Support ServicesTerm Loan8.25%7/28/202546.6  46.6  44.2  0.01 %
Acton Hardware LLC & Mark Allgood & Jamie Allgood(*,#,^)31814 Crown Valley Rd, Acton, CA 93510Building Material and Garden Equipment and Supplies DealersTerm Loan8%3/24/2041478.2  478.2  364.9  0.11 %
Advance Case Parts Inc(*,#,^)12489 NW 44th St., Coral Springs, FL 33065Repair and MaintenanceTerm Loan7.75%12/22/202745.4  45.4  —  — %
Advance Case Parts RE Holdings LLC and Advance Case Parts Inc(*,#)12485-12489 NW 44th St., Coral Springs, FL 33071Repair and MaintenanceTerm Loan7.75%3/31/2040321.3  321.3  230.5  0.07 %
Alive Design, LLC(*,#)234 Middle St., Middletown, CT 06457Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%3/13/202715.0  15.0  11.9  — %
All About Kids and Families Medical Center, Inc.(*,#,^)12086 FT Caroline Rd #102/3, 401-403, 501/2, Jacksonville, FL 32225Ambulatory Health Care ServicesTerm Loan8.25%1/13/2029364.9  364.9  256.6  0.08 %
All Printing Solutions, Inc. dba Pryntcomm(*,#,^)303 E. Sioux Ave., Pierre, SD 57501Printing and Related Support ActivitiesTerm Loan7.75%6/27/2041491.9  491.9  215.9  0.07 %
Allied Welding Inc.(*,#,^)1820 N. Santa Fe Ave, Chillicothe, IL 61523Fabricated Metal Product ManufacturingTerm Loan8.25%12/15/2041727.3  727.3  560.8  0.17 %
American Pharmaceutical Innovation Company, LLC(*,#,^)1425 Centre Circle, Downers Grove, IL 60515Chemical ManufacturingTerm LoanPrime plus 2.75%3/28/20276.9  6.9  6.5  — %
American Reclamation LLC(*,#,^)3600 Wetzel St., Wheeling, WV 26003Furniture and Related Product ManufacturingTerm Loan8%11/1/20270.8  0.8  0.7  — %
Arclay, LLC(*,#,^)49 Geyser Rd, Ste 100, Saratoga Springs, NY 12866Nonmetallic Mineral Product ManufacturingTerm Loan8%5/5/2030137.1  137.1  39.5  0.01 %
Arrow Freight Inc(*,#,^)1000 Jorie Blvd Ste 250, Oak Brook, IL 60523Truck TransportationTerm Loan8.25%3/30/2028658.6  658.6  379.4  0.12 %
Auto Shine Carwash Inc and AKM R. Hossain and Jessica F. Masud(*,#)2646 South Rd, Poughkeepsie, NY 12601Gasoline StationsTerm Loan7.75%9/26/202415.7  15.7  15.3  — %
275
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
AWA Fabrication & Construction, L.L.C.(*,#)811 Country Rd #99, Headland, AL 36345Fabricated Metal Product ManufacturingTerm Loan6%4/30/202534.4  34.4  1.4  — %
B and J Catering Inc dba Culinary Solutions(*,#,^)2201 S Federal Hwy, Boynton Beach, FL 33435Food Services and Drinking PlacesTerm Loan7%8/27/2040208.9  208.9  139.2  0.04 %
B&B Fitness and Barbell, Inc. dba Elevations Health Club(*,#)Route 611 North, Scotrun, PA 18355Amusement, Gambling, and Recreation IndustriesTerm Loan6%6/22/2035198.9  198.9  168.2  0.05 %
B4 Fitness LLC dba The Zoo Health Club(*,#,^)4 Beehive Dr, Epping, NH 03042Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%9/23/202670.1  70.1  48.5  0.02 %
B4 Fitness LLC dba The Zoo Health Club(*,#,^)4 Beehive Dr, Epping, NH 03042Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%11/30/202618.5  18.5  —  — %
Baker Sales, Inc. d/b/a Baker Sales, Inc.(*,#)60207 Camp Villere Rd, Slidell, LA 70460Nonstore RetailersTerm Loan6%3/29/2036177.4  177.4  59.4  0.02 %
Fieldstone Quick Stop LLC, Barber Investments LLC, Thadius M B(*,#)190 Route 3, South China, ME 04358Gasoline StationsTerm Loan6%9/30/2038400.4  400.4  36.4  0.01 %
Barber Investments LLC and Fieldstone Quickstop LLC and Maine Dollar(*,#)190 Rt 3, South China, ME 04358Gasoline StationsTerm Loan6.25%8/15/2039146.3  146.3  —  — %
Bear Creek Entertainment LLC dba The Woods at Bear Creek(*,#,^)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm LoanPrime plus 2.75%8/12/20411,608.1  1,670.3  565.6  0.18 %
Bear Creek Entertainment, LLC dba The Woods at Bear Creek(*,#)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm Loan7.25%12/30/202485.4  85.4  81.0  0.03 %
Bebos Inc dba Pizza Hut & Sunoco(*,#)2003 West 5th St., Clifton, TX 76634Gasoline StationsTerm Loan7.75%3/28/2028214.1  214.1  52.6  0.02 %
Bone Bar & Grill LLC(*,#)3547&3551 Philipsburg Bigler Hwy, West Decatur, PA 16878Food Services and Drinking PlacesTerm Loan7%6/30/204273.4  73.4  54.7  0.02 %
Bowl Mor LLC dba Bowl Mor Lanes(*,#,^)600 West Manlius St., East Syracuse, NY 13057Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%7/31/20276.4  6.4  —  — %
Bowl Mor, LLC dba Bowl Mor Lanes/Spare Lounge, Inc.(*,#)201 Highland Ave, East Syracuse, NY 13057Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/13/2039201.2  201.2  154.0  0.05 %
BQRS, Inc. DBA Gresham Meineke Car Care Center(*,#,^)18081 SE Division St., Portland, OR 97236Repair and MaintenanceTerm LoanPrime plus 2.75%6/30/202754.2  54.2  53.5  0.02 %
Brandywine Picnic Park, Inc. and B.Ross Capps & Linda Capps(*,#)690 South Creek Rd, West Chester, PA 19382Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%3/30/2031179.3  179.3  176.9  0.05 %
Cagwin Trucking LLC(*,#,^)332 35th Ave, Fairbanks, AK 99701Truck TransportationTerm Loan8.25%9/29/2042305.0  305.0  224.9  0.07 %
276
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
Calhoun Satellite Communications Inc and Transmission Solutions Group(*,#)1914 Tigertail Blvd, Dania, FL 33004Broadcasting (except Internet)Term Loan6.75%2/27/2025724.2  724.2  —  — %
Calhoun Satellite Communications, Inc.(*,#)1914 Tigertail Blvd, Dania Beach, FL 33004TelecommunicationsTerm Loan7%12/2/2026189.1  189.1  30.9  0.01 %
Capstone Pediatrics PLLC and Capstone Healthcare Consulting LLC(*,#)310 25th Ave N. St. Ste 201, Nashville, TN 37203Ambulatory Health Care ServicesTerm Loan7.75%5/15/2025556.4  556.4  322.9  0.10 %
Cardinal Homes Inc, Alouette Holdings Inc., Bret Berneche & Dorothy(*,#,^)525 Barnsville Hwy, Wylliesburg, VA 23976Wood Product ManufacturingTerm Loan8%12/14/2026868.8  868.8  824.0  0.26 %
Cardinal Homes Inc. and Bret A Berneche(*,#,^)525 Barnesville Hwy, Wylliesburg, VA 23976Wood Product ManufacturingTerm Loan8%12/14/2041116.7  116.7  110.7  0.03 %
Cardinal Homes, Inc(*,#,^)525 Barnsville Hwy, Wylliesburg, VA 23976Wood Product ManufacturingTerm LoanPrime plus 2.75%10/27/202795.7  95.7  90.8  0.03 %
Carl R. Bieber, Inc. dba Bieber Tourways/Bieber Transportation(*,#)320 Fair St., Kutztown, PA 19530Transit and Ground Passenger TransportationTerm Loan7.5%9/30/2027572.9  572.9  546.8  0.17 %
Central Medical Clinic, PLLC- Clinica Central(*,#)393 N Dunlap St. #LL26,LL34,LL38, St Paul, MN 55104Ambulatory Health Care ServicesTerm Loan8.25%6/7/2029307.2  307.2  303.2  0.09 %
Chickamauga Properties, Inc., MSW Enterprises, LLP(*,#)214 Sutherland Way, Rocky Face, GA 30740Amusement, Gambling, and Recreation IndustriesTerm Loan6.25%12/22/203559.0  59.0  56.0  0.02 %
Chickamauga Properties, Inc. & MSW Enterprises, LLP(*,#)214 Sutherland Way, Rocky Face, GA 30740Amusement, Gambling, and Recreation IndustriesTerm Loan6.25%10/19/202243.5  43.5  41.2  0.01 %
Clark Realty LLC(*,#,^)4 Walker Way, Albany, NY 12205Real EstateTerm Loan8%8/29/204173.3  73.3  18.9  0.01 %
Clark Realty LLC(*,#,^)15 Old Loudon Rd, Colonie, NY 12110Real EstateTerm Loan8%9/15/202758.6  58.6  —  — %
CNC Precision Machine, Inc.(*,#,^)18360 Industrial Circle, Burton, OH 44021Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%9/28/20411,226.4  1,226.4  651.8  0.20 %
CNYP 717 Irondequoit LLC and CNYP 2002 Ontario LLC(*,#,^)717 Titus Ave, Rochester, NY 14617Food Services and Drinking PlacesTerm Loan8.25%11/20/2040232.4  232.4  118.9  0.04 %
Colts V LLC and Nowatzke Service Center, Inc dba Nowatzke Truck & Trai(*,#)6900 Whitmore Lake Rd, Whitmore Lake, MI 48189Repair and MaintenanceTerm Loan6.75%9/26/2039553.3  553.3  484.0  0.15 %
Conference Services International ETC LLC(*,#,^)4802 West Van Buren St., Phoenix, AZ 85007Administrative and Support ServicesTerm Loan8%8/14/2028600.7  600.7  592.9  0.18 %
Custom Software, Inc. a Colorado Corporation dba M-33 Access(*,#)380 E. Borden Rd, Rose City, MI 48654Broadcasting (except Internet)Term Loan6.25%4/30/202294.3  94.3  —  — %
CZAR Industries, Inc.(*,#,^)1424 Heath Ave, Ewing, NJ 08638Machinery ManufacturingTerm Loan8.25%12/19/2027219.9  219.9  80.6  0.03 %
277
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
D&G Capital LLC dba Miami Grill 277(*,#,^)2521 N Federal Hwy Unit C, Boca Raton, FL 33431Food Services and Drinking PlacesTerm Loan6.5%12/16/202545.4  45.4  23.9  0.01 %
Darian L Hampton DDS PA and Darian L. Hampton(*,#)3610 N Josey Lane Ste 104, Carrollton, TX 75007Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/20/2028292.6  292.6  24.0  0.01 %
Dixie Transport, Inc. & Johnny D. Brown & Jimmy Brown & Maudain Brown(*,#,^)2685 US Hwy 41, Calhoun, GA 30701Support Activities for TransportationTerm Loan5.25%12/28/20351,316.8  1,316.8  702.5  0.22 %
Douglas Printy Motorsports, Inc. dba Blackburn Trike(*,#)1410 Medina Rd, Medina, OH 44256Motor Vehicle and Parts DealersTerm Loan8.25%3/9/2040155.9  155.9  95.1  0.03 %
Doxa Deo Inc dba Luv 2 Play(*,#,^)1600 Village Market Blvd, Leesburg, VA 20175Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%2/28/202681.3  81.3  80.2  0.02 %
Dr. Richard Rolle JR, PLLC dba Rolle Oral & Facial Surgery PLLC(*,#,^)1515 Shopton Rd, Charlotte, NC 28217Ambulatory Health Care ServicesTerm Loan7.5%9/29/2042869.9  869.9  596.4  0.19 %
Dr. Richard R. Rolle, Jr., PLLC dba Rolle Oral & Facial Surgery(*,#,^)9615 Caldwell Commons Cir, Ste B, Cornelius, NC 28031Ambulatory Health Care ServicesTerm Loan7.5%12/18/2027122.3  122.3  —  — %
Driven Warehouse/Distribution LLC(*,#)271 East North Ave, Glendale, IL 60139Truck TransportationTerm Loan8%12/22/2027726.2  726.2  453.1  0.14 %
Driven Warehouse/Distribution LLC(*,#)271 East North Ave, Glendale, IL 60139Truck TransportationTerm Loan8%1/18/2028129.0  129.0  —  — %
DTM Parts Supply Inc.(*,#)31 Sageman St, Mount Vernon, NY 10550Merchant Wholesalers, Durable GoodsTerm Loan7%6/2/202553.4  53.4  38.2  0.01 %
DuCharme Realty LLC and DuCharme Enterprises LLC dba Specialty(*,#)1717 Hwy 200, Noxon, MT 59853Wood Product ManufacturingTerm Loan8%2/2/2040210.1  210.1  131.2  0.04 %
E & I Holdings, LP & PA Farm Products, LLC(*,#)1095 Mt Airy Rd, Stevens, PA 17578Food ManufacturingTerm Loan6%4/30/20304,705.2  4,815.4  2,773.9  0.86 %
Earth First Recycling LLC(*,#,^)400 Island Park Rd, Easton, PA 18040Merchant Wholesalers, Durable GoodsTerm Loan8%12/6/202772.8  72.8  71.9  0.02 %
Earth First Recycling, LLC and 191 Clark Road, LLC(*,#,^)400 Island Park Rd, Easton, PA 18040Merchant Wholesalers, Durable GoodsTerm Loan8%6/5/2027338.0  338.0  333.6  0.10 %
Elegant Fireplace Mantels, Inc. dba Elegant Fireplace Mantels(*,#,^)11949 Borden Ave, San Fernando, CA 91340Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/31/202243.9  43.9  42.8  0.01 %
Ericon Inc. dba Quik Pik(*,#,^)740 Davenport Ave, Freemont, NE 68025Gasoline StationsTerm LoanPrime plus 2.75%3/24/202754.2  54.2  —  — %
Ericon, Inc.(*,#,^)740 Davenport Ave, Fremont, NE 68025Gasoline StationsTerm Loan8.25%12/1/2041705.6  705.6  658.6  0.20 %
Ericon, Inc. dba Quik Pik(*,#,^)740 Davenport Ave, Freemont, NE 68025Gasoline StationsTerm Loan8.25%12/15/2041322.8  322.8  —  — %
Europlast Ltd(*,#)100 Industrial Lane, Endeavor, WI 53930Plastics and Rubber Products ManufacturingTerm Loan6%9/26/2022312.9  312.9  55.5  0.02 %
278
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
Europlast Ltd(*,#)100 Industrial Lane, Endeavor, WI 53930Plastics and Rubber Products ManufacturingTerm Loan6%5/31/202373.4  73.4  —  — %
Evergreen Pallet LLC and Evergreen Recycle LLC(*,#,^)302 W 53rd St N., Wichita, KS 67204Wood Product ManufacturingTerm Loan8.25%3/16/2026912.8  912.8  514.6  0.16 %
Evernook Valley Milk LLC(*,#,^)7448 Emmerson Rd, Everson, WA 98247Animal Production and AquacultureTerm Loan7.5%8/31/2042637.5  637.5  468.2  0.15 %
Excel RP Inc(*,#,^)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%8/30/202366.8  66.8  52.8  0.02 %
Excel RP Inc(*,#,^)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%3/25/202695.2  95.2  —  — %
Excel RP, Inc./Kevin and Joann Foley(*,#)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%7/8/202832.4  32.4  31.0  0.01 %
Excel, RP Inc.(*,#,^)6531 Park Ave, Allen Park, MI 48101Machinery ManufacturingTerm Loan8.25%9/20/202788.8  88.8  —  — %
Ezzo Properties, LLC and Great Lakes Cleaning, Inc.(*,#)1405 Combermere Dr., Troy, MI 48083Administrative and Support ServicesTerm Loan7.75%12/20/2027286.5  286.5  40.0  0.01 %
New Image Building Services, Inc. dba New Image Repair Services(*,#)1405 Combermere Dr., Troy, MI 48083Repair and MaintenanceTerm Loan7.75%8/23/2037251.5  251.5  162.3  0.05 %
New Image Building Services Inc. dba New Image Repair Services(*,#)1405 Combermer Dr., Troy, MI 48083Repair and MaintenanceTerm Loan7.75%10/29/2023197.1  197.1  —  — %
New Image Building Services, Inc. dba The Maids serving Oakland (*,#,^)320 Church St., Mount Clemens, MI 48043Administrative and Support ServicesTerm Loan7.75%1/19/202667.8  67.8  —  — %
New Image Building Services, Inc.dba The Maids Servicing Oakland &Maco(*,#,^)1405 Combermere Drive, Troy, MI 48083Administrative and Support ServicesTerm Loan7.75%12/21/202639.0  39.0  —  — %
New Image Building Services, Inc.(*,#,^)1405 Combermere Drive, Troy, MI 48083Administrative and Support ServicesTerm Loan7.75%5/18/2027138.9  138.9  —  — %
Flooring Liquidators Inc and Flooring Liquidators of Mt Kisco LLC(*,#)267 Saw Mill River Rd, Elmsford, NY 10523Specialty Trade ContractorsTerm Loan6.75%6/17/2025299.5  299.5  194.8  0.06 %
Flooring Liquidators Inc & Premier Flooring Yonkers Inc & Flooring(*,#,^)267 Saw Mill River Rd, Elmsford, NY 10523Specialty Trade ContractorsTerm Loan8.25%3/24/202639.1  39.1  —  — %
Florida Apnea Diagnostics LLC(*,#,^)2664 Cypress Rdg Blvd Ste 101&102A, Wesley Chapel, FL 33544Ambulatory Health Care ServicesTerm Loan8.25%10/20/2027145.7  145.7  73.4  0.02 %
Florida Apnea Diagnostics, LLC(*,#,^)2664 Cypress Ridge Blvd Ste 101&102, Wesley Chapel, FL 33624Ambulatory Health Care ServicesTerm Loan8.25%7/24/202820.1  20.1  —  — %
Galaforo Construction and Companies LLC(*,#,^)1770 Stumpf Boulevard, Terrytown, LA 70056Construction of BuildingsTerm Loan7.5%12/15/204233.6  33.6  31.9  0.01 %
279
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
Galaforo Construction LLC and Paul M Galaforo, Jr.(*,#)1770 Stumpf Boulevard, Terrytown, LA 70056Construction of BuildingsTerm Loan7.5%12/15/2027329.0  329.0  23.6  0.01 %
GEM2K, LLC(*,#,^)4150 E Magnolia ST., Phoeniz, AZ 85034Nonmetallic Mineral Product ManufacturingTerm Loan8.25%12/15/2043381.3  381.3  366.4  0.11 %
GEM2K, LLC dba Precision Precast Group(*,#,^)4150 E Magnolia St., Phoenix, AZ 85034Miscellaneous ManufacturingTerm Loan8.25%5/19/2027140.4  140.4  42.6  0.01 %
Grand Manor Realty, Inc. & Kevin LaRoe(*,#)318 S. Halsted St., Chicago, IL 60661Real EstateTerm Loan6%2/20/202319.0  19.0  18.0  0.01 %
Green Country Filter Manufacturing LLC(*,#,^)1415 S. 70th E Ave, Tulsa, OK 74112Miscellaneous ManufacturingTerm Loan8%4/27/202659.4  59.4  13.7  — %
Groundworks Unlimited LLC(*,#,^)50 Telfair Place, Garden City, GA 31415Specialty Trade ContractorsTerm Loan6%12/17/20238.0  8.0  7.8  — %
H.M.C, Incorporated(*,#,^)7190 Oakland Mills Rd Ste 10, Columbia, MD 21046Furniture and Related Product ManufacturingTerm Loan8.25%7/3/2028183.8  183.8  181.4  0.06 %
Hagerstown Muffler, Inc. and JMS Muffler, Inc(*,#)1390 Dual Hwy, Hagerstown, MD 21740Repair and MaintenanceTerm Loan8%9/24/2040311.5  311.5  270.8  0.08 %
Harrelson Materials Management,Inc(*,#)1101 Russell Rd, Shreveport, LA 71107Waste Management and Remediation ServicesTerm Loan6%6/24/2021465.2  465.2  4.6  — %
Hascher Gabelstapler Inc(*,#)80 Cole Ave, Akron, OH 44301Repair and MaintenanceTerm Loan7%3/26/202449.0  49.0  —  — %
HDD Solutions, LLC(*,#)6550 Progress Parkway, Cedar Hill, MO 63016Heavy and Civil Engineering ConstructionTerm Loan8.25%12/31/2028552.8  552.8  339.6  0.11 %
HG Ventures, Inc.(*,#,^)100 Phoenix Drive, Finleyville, PA 15332Truck TransportationTerm Loan7.5%3/9/2028120.9  120.9  34.5  0.01 %
HG Ventures, Inc. dba Diamond Head Trucking(*,#,^)100 Phoenix Drive, Finleyville, PA 15332Truck TransportationTerm Loan7.5%6/29/2030882.7  882.7  312.5  0.10 %
Home Again Restaurant LLC(*,#)9524 Camp Lake Rd, Salem, WI 53168Food Services and Drinking PlacesTerm Loan6.25%6/30/20400.4  0.4  0.3  — %
Hurshell Leon Dutton dba High Jump Party Rentals(*,#,^)157 East Concho Ave, San Angelo, TX 76903Rental and Leasing ServicesTerm Loan8%11/30/202513.6  13.6  13.3  — %
Insight Vision Care, PC, CRMOD Lubbock, P.C.,Vielm Vision Eyecare Inc(*,#,^)4899 Griggs Rd, Houston, TX 77021Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/27/20431,132.3  1,132.3  643.5  0.20 %
J And G Group Services LLC and United Vending of Florida Inc and John(*,#,^)14240 Palmetto Frontage Rd, Miami Lakes, FL 33016Merchant Wholesalers, Nondurable GoodsTerm Loan7.25%7/28/202629.6  29.6  29.2  0.01 %
J and K Fitness L.L.C. dba Physiques Womens Fitness Center(*,#,^)2505 Verot School RD, Lafayette, LA 70508Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%2/28/204190.1  90.1  —  — %
J&K Fitness, LLC dba Physiques Womens Fitness Center(*,#)2505 Verot School Rd, Lafayette, LA 70508Amusement, Gambling, and Recreation IndustriesTerm Loan8%6/8/203614.6  14.6  11.0  — %
280
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
J Harris Trucking LLC(*,#)2040 5 1/2 Mile Rd, Racine, WI 53402Truck TransportationTerm Loan7.25%5/19/202718.7  18.7  —  — %
J Harris Trucking, LLC(*,#,^)2040 5 1/2 Mile Rd, Racine, WI 53402Truck TransportationTerm Loan7.25%5/13/202629.6  29.6  4.5  — %
J Olson Enterprises LLC and Olson Trucking Direct, Inc.(*,#)311 Ryan St, Holmen, WI 54636Truck TransportationTerm Loan6%6/28/2025628.4  628.4  47.1  0.01 %
Jenny's Wunderland, Inc.(*,#)3666 East 116th, Cleveland, OH 44105Social AssistanceTerm Loan6%6/29/203698.8  98.8  1.2  — %
Kantz LLC and Kantz Auto LLC dba Kantz's Hometown Auto(*,#)200 West Adams St, Cochranton, PA 16314Motor Vehicle and Parts DealersTerm Loan6.25%10/29/203911.1  11.1  5.2  — %
Kidtastic LLC dba The Little Gym of Audubon(*,#,^)2850 Audubon Drive, Audubon, PA 19403Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%7/27/202644.9  44.9  25.8  0.01 %
Kneading Dough LLC dba NY Bagel Cafe & Deli,NY Bagle, New York Bagle(*,#)10287 Okeechobee Blvd #13, Royal Palm Beach, FL 33411Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/23/202918.1  18.1  11.4  — %
Knowledge First Inc dba Magic Years of Learning and Kimberly Knox(*,#)575 North Harris St, Athens, GA 30601Social AssistanceTerm Loan8%3/21/203911.4  11.4  10.7  — %
Kostekos Inc dba New York Style Pizza(*,#)10 South King St., Gloucester, NJ 08030Food Services and Drinking PlacesTerm Loan8%2/6/204061.9  61.9  14.9  — %
Krishna of Orangeburg, Inc.(*,#)826 John C. Calhoun Drive, Orangeburg, SC 29115AccommodationTerm Loan6%2/20/203210.3  10.3  9.2  — %
Kup's Auto Spa Inc(*,#)121 Marktree Rd, Centereach, NY 11720Repair and MaintenanceTerm Loan6.25%11/15/203870.5  70.5  33.3  0.01 %
Kup’s Auto Spa, Inc.(*,#)121 Marktree Rd, Centereach, NY 11720Repair and MaintenanceTerm Loan6.25%10/23/202554.7  54.7  —  — %
LA Diner Inc dba Loukas L A Diner(*,#)3205 Route 22 East, Branchburg, NJ 08876Food Services and Drinking PlacesTerm Loan7.25%9/28/203792.8  92.8  90.4  0.03 %
LAN Doctors Inc(*,#)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%8/28/202559.8  59.8  58.3  0.02 %
LAN Doctors Inc(*,#,^)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%3/16/202643.4  43.4  42.3  0.01 %
Lan Doctors, Inc.(*,#,^)14 Pierson Court, Mahwah, NJ 07430Professional, Scientific, and Technical ServicesTerm Loan8.25%12/7/2026203.3  203.3  197.9  0.06 %
Lowgap Grocery & Grill LLC(*,#,^)8773 West Pine St., Lowgap, NC 27024General Merchandise StoresTerm Loan7.25%3/24/204148.0  48.0  26.7  0.01 %
M & H Pine Straw Inc and Harris L. Maloy(*,#)526 Perry House Rd, Fitzgerald, GA 31750Merchant Wholesalers, Nondurable GoodsTerm Loan7.5%3/21/2023197.4  197.4  59.9  0.02 %
M & H Pine Straw, Inc and Harris L. Maloy(*,#)526 Perry House Rd, Fitzgerald, GA 31750Support Activities for Agriculture and ForestryTerm Loan6%4/30/202054.2  54.2  53.5  0.02 %
M & H Pine Straw, Inc.and Harris Maloy(*,#)526 Perry House Rd, Fitzgerald, GA 31750Support Activities for Agriculture and ForestryTerm Loan7.5%7/10/202027.4  27.4  20.3  0.01 %
281
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
M & H Pinestraw, Inc. and Harris L. Maloy(*,#)526 Perry House Rd, Fitzgerald, GA 31750Merchant Wholesalers, Nondurable GoodsTerm Loan7.5%12/15/2021133.8  133.8  49.9  0.02 %
M and C Renovations Inc(*,#)3951 Lorna Rd, Birmingham, AL 35244Construction of BuildingsTerm Loan6.25%10/31/202411.5  11.5  9.0  — %
Magill Truck Line LLC and Jeff J. Ralls(*,#,^)211 West 53rd St. N., Park City, KS 67204Truck TransportationTerm Loan8%3/11/2029186.2  186.2  85.9  0.03 %
Mariam Diner Inc dba Country Kitchen Restaurant(*,#,^)17393 Main St., Hesperia, CA 92345Food Services and Drinking PlacesTerm Loan8%3/18/202642.8  42.8  18.0  0.01 %
MB Xpress Inc(*,#,^)159 D'Arcy Parkway, Lathrop, CA 95330Truck TransportationTerm Loan8.25%9/19/20281,168.6  1,168.6  1,017.8  0.32 %
Medeiros Holdings Inc dba Outdoor Lighting Perspectives of the Triad(*,#,^)780 S Peace Haven Rd, Winston Salem, NC 27103Electrical Equipment, Appliance, and Component ManufacturingTerm Loan7%11/25/202510.5  10.5  1.8  — %
MIT LLC(*,#,^)11 North Peach ST., Medford, OR 97504Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/31/204284.9  84.9  63.2  0.02 %
Mojo Brands Media, LLC(*,#)3260 University Blvd., Ste 100, Winter Park, FL 32792Broadcasting (except Internet)Term Loan6%8/28/2023725.0  725.0  289.7  0.09 %
MTV Bowl, Inc. dba Legend Lanes(*,#)4190 State Rd, Cuyahoga Falls, OH 44223Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%6/30/2036197.3  197.3  208.6  0.06 %
Mustafa Inc dba Adiba Grocery(*,#,^)5712 Wurzbach Rd, San Antonio, TX 78238Food and Beverage StoresTerm LoanPrime plus 2.75%12/17/202578.7  78.7  74.6  0.02 %
Mustafa Inc and Raouf Properties LLC(*,#,^)3538 Pin Oak Dr, San Antonio, TX 78229Food and Beverage StoresTerm LoanPrime plus 2.75%3/14/204171.3  71.3  67.7  0.02 %
N Transport LLC(*,#,^)5348 W Brown Ave, Fresno, CA 93722Truck TransportationTerm Loan8%11/20/2027385.5  385.5  86.9  0.03 %
N Transport LLC(*,#,^)294 N. Fruit Ave, Fresno, CA 93706Truck TransportationTerm Loan8.25%11/20/2042175.3  175.3  147.2  0.05 %
Neville Galvanizing, Inc(*,#)2983 Grand Ave, Pittsburgh, PA 15225Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/15/2042625.0  625.0  444.2  0.14 %
Nowatzke Service Center Inc dba Nowatzke Truck & Trailer(*,#,^)6900 Whitmore Lake Rd, Whitmore Lake, MI 48189Repair and MaintenanceTerm Loan7%1/29/202696.9  96.9  —  — %
Olsen Bros. Transportation, Inc. & Golden Spike Leasing, LLC(*,#,^)2520 Pennsylvania Ave, Ogden, UT 84401Truck TransportationTerm Loan8.25%6/20/2028547.8  547.8  71.3  0.02 %
Paragon Fabricators Inc, Paragon Field Services, Inc and Paragon Global(*,#)412 and 500 Main St., La Marque, TX 77568Heavy and Civil Engineering ConstructionTerm Loan7%9/28/2026570.7  570.7  27.3  0.01 %
Paragon Global, LLC and Paragon Fabricators Inc and Paragon Field(*,#,^)412 and 500 Main St., La Marque, TX 77568Heavy and Civil Engineering ConstructionTerm Loan7%9/28/2041110.1  110.1  77.2  0.02 %
Peter K Lee MD, PC dba Atlanta Primary Care(*,#,^)211 Roberson Mill Rd, Milledgeville, GA 31061Ambulatory Health Care ServicesTerm Loan8.25%9/13/2043859.6  859.6  826.1  0.26 %
282
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
Peter K Lee MD, PC dba Atlanta Primary Care LLC(*,#,^)5 Ashford Way, Hawkinsville, GA 31061Ambulatory Health Care ServicesTerm Loan8.25%9/13/2028381.0  381.0  366.2  0.11 %
PLES Investements, LLC and John Redder, Pappy Sand & Gravel, Inc.(*,#,^)2040 Dowdy Ferry, Dallas, TX 75218Specialty Trade ContractorsTerm LoanPrime plus 2.75%12/19/2038499.0  499.0  367.0  0.11 %
Top Cat Ready Mix, LLC & Ples Investments LLC, Pappy's Sand & Gravel(*,#,^)2040 Dowdy Ferry Rd, Dallas, TX 75217Specialty Trade ContractorsTerm LoanPrime plus 2.75%6/14/2028147.5  147.5  —  — %
Top Cat Ready Mix, LLC, Ples Investments LLC, and Pappy's Sand(*,#,^)13851 S State HWY 34, Scurry, TX 75158Specialty Trade ContractorsTerm LoanPrime plus 2.75%10/28/2025499.1  499.1  212.6  0.07 %
Pooh's Corner Realty LLC and Pooh's Corner Inc(*,#)40 West Avon Rd, Avon, CT 06001Social AssistanceTerm Loan7%7/23/204011.2  11.2  7.3  — %
PS Camping Inc.(*,#,^)43595 US Hwy 50, Canon City, CO 81212AccommodationTerm LoanPrime plus 2.75%12/1/202718.5  18.5  17.7  0.01 %
PS Camping, Inc. dba Prospectors RV Resort(*,#,^)43659&43595 US Hwy 50, Canon City, CO 81212AccommodationTerm Loan8.25%5/19/2042250.1  250.1  240.4  0.07 %
Ramjay Inc.(*,#,^)85 S. Bragg St. Ste 303, Alexandria, VA 22312Transit and Ground Passenger TransportationTerm Loan8.25%1/13/2027381.9  381.9  83.6  0.03 %
Randall Miller Company, Inc and Boyz Transportation Services, LLC(*,#,^)256 Blackley Rd, Bristole, TN 37620Truck TransportationTerm LoanPrime plus 2.75%7/31/2029921.9  921.9  611.1  0.19 %
RDT Enterprises LLC(*,#)2134 Helton Dr, Florence, AL 35630Specialty Trade ContractorsTerm Loan7%9/15/2027136.9  136.9  60.8  0.02 %
RDT Enterprises, L.L.C.(*,#)2134 Helton Drive, Florence, AL 35630Specialty Trade ContractorsTerm Loan7%11/12/202519.5  19.5  —  — %
RDT Enterprises, LLC(*,#)2134 Helton Drive, Florence, AL 35630Specialty Trade ContractorsTerm Loan7%12/31/2028111.5  111.5  52.7  0.02 %
Recovery Boot Camp, LLC, Rule 62, Inc. and Healing Properties, LLC(*,#,^)85 SW 5th Ave, Delray Beach, FL 33444Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%12/28/2028119.1  119.1  9.4  — %
Return to Excellence Inc(*,#,^)176 Country Club Drive, Waynesville, NC 28786Amusement, Gambling, and Recreation IndustriesTerm Loan8.25%1/27/202715.6  15.6  14.8  — %
Return to Excellence, Inc. dba The Waynesville Inn Golf & Spa(*,#)176 Country Club Drive, Waynesville, NC 28786Amusement, Gambling, and Recreation IndustriesTerm Loan8%10/10/20391,154.0  1,154.0  1,094.5  0.34 %
Rhone Wolf Vineyard LLC, Goldline Brands Inc. and Myka Cellars, Inc.(*,#,^)5245 Bucks Bar Rd, Placerville, CA 95667Beverage and Tobacco Product ManufacturingTerm Loan8.25%1/19/2030230.9  230.9  219.0  0.07 %
Roundhay Partners LLC and Roundhay Farming LLC(*,#,^)6160 Granite Spring Rd, Somerset, CA 95684Crop ProductionTerm Loan8.25%8/8/2042902.1  902.1  663.8  0.21 %
Rich's Food Stores LLC dba Hwy 55 of Wallace(*,#,^)611 East Southerland St., Wallace, NC 28466Food Services and Drinking PlacesTerm LoanPrime plus 2.75%9/14/2026121.8  121.8  25.9  0.01 %
Rich's Food Stores LLC dba Hwy 55 of Wallace(*,#,^)611 E Southerland St, Wallace, NC 28466Food Services and Drinking PlacesTerm Loan8.25%11/9/202637.1  37.1  —  — %
283
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
Route 130 SCPI Holdings LLC, Route 130 SCPI Operations LLC(*,#)423-429 Route 156, Trenton, NJ 08620Food Services and Drinking PlacesTerm Loan6.25%9/30/2039279.5  279.5  34.5  0.01 %
Sanabi Investment, LLC dba Oscar's Moving and Storage(*,#,^)11421 N W 107th St., #13, Miami, FL 33178Truck TransportationTerm Loan7.5%6/20/2027106.2  106.2  41.3  0.01 %
Sand Hill Associates, Ltd. dba Charlie O's Tavern on the Point(*,#,^)2 Sand Hill Cove Rd, Narragansett, RI 02882Food Services and Drinking PlacesTerm Loan8.25%12/27/2041413.0  413.0  242.1  0.08 %
SDA Holdings LLC and Les Cheveux Salon Inc(*,#,^)306 McClanahan St., Roanoke, VA 24014Personal and Laundry ServicesTerm Loan7.5%12/15/2040108.5  108.5  67.0  0.02 %
Sektor Solutions Inc.(*,#,^)9841 Washingtonian Blvd #200, Gaithersberg, MD 20878Professional, Scientific, and Technical ServicesTerm Loan8.25%11/16/2028157.8  157.8  153.6  0.05 %
Select Propane & Fuel Inc. and Select Fuel & Convenience LLC(*,#)3822 State Route 3, Red Bud, IL 62278Merchant Wholesalers, Nondurable GoodsTerm Loan7.5%2/10/2030524.2  524.2  26.8  0.01 %
Shaffer Automotive Repair, LLC(*,#)1485 North McQueen Rd #1, Gilbert, AZ 85233Repair and MaintenanceTerm Loan7%5/24/2030132.8  132.8  45.2  0.01 %
Shane M. Howell and Buck Hardware and Garden Center, LLC(*,#)1007 Lancaster Pike, Quarryville, PA 17566Building Material and Garden Equipment and Supplies DealersTerm Loan7.5%12/27/2038113.4  113.4  10.5  — %
Siman Trio Trading(*,#)2100 Ponce De Leon Blvd #1290, Coral Gables, FL 33134Merchant Wholesalers, Durable GoodsTerm Loan8.25%12/21/2028146.4  146.4  22.0  0.01 %
Simkar LLC, Neo Lights Holding Inc, Kalco Lighting, LLC(*,#)700 Ramona Ave, Philadelphia, PA 19120Electrical Equipment, Appliance, and Component ManufacturingTerm LoanPrime plus 2.75%12/26/2043499.6  499.6  493.0  0.15 %
Soregard Inc(*,#,^)605 Birch Drive, Maquoketa, IA 52060Furniture and Related Product ManufacturingTerm Loan7.5%6/30/2041152.8  152.8  41.9  0.01 %
Sovereign Communications LLC(*,#)26 E 3 Mile Rd, Sault Sainte Marie, MI 49783Broadcasting (except Internet)Term Loan6.75%2/7/2024627.4  627.4  132.6  0.04 %
STK Ventures Inc dba JP Dock Service & Supply(*,#)12548 N State Hwy 7, Climax Springs, MO 65324Specialty Trade ContractorsTerm Loan6%5/9/203731.6  31.6  7.0  — %
Stormrider Inc dba Shirley's Stormrider Inc(*,#)1335 N. Gable Rd, St. Hedwig, TX 78152Truck TransportationTerm Loan7.25%9/23/202553.1  53.1  —  — %
Stormrider Inc dba Shirley's Stormrider, Inc(*,#)1335 N Gable Rd, St Hedwig, TX 78152Truck TransportationTerm Loan7.75%11/25/2024102.9  102.9  13.1  — %
Street Magic Enterprise LLC(*,#,^)1700 E Bridge St., New Lisbon, WI 93950Gasoline StationsTerm Loan7.75%12/21/202786.3  86.3  —  — %
Street Magic Enterprise LLC dba New Lisbon Travel Mart(*,#,^)1700 East Bridge St., New Lisbon, WI 53950Gasoline StationsTerm Loan7.5%11/7/2042419.0  419.0  239.9  0.07 %
Suncrest Stone Products LLC(*,#,^)341 County Farm Rd, Ashburn, GA 31714Nonmetallic Mineral Product ManufacturingTerm Loan7.25%8/29/2041620.8  620.8  564.7  0.18 %
Suncrest Stone Products LLC(*,#,^)341 County Farm Rd, Ashburn, GA 31714Nonmetallic Mineral Product ManufacturingTerm Loan7.5%8/29/2026536.6  536.6  459.9  0.14 %
284
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
T and B Boots Inc dba Takken's Shoes(*,#)670 Marsh St., San Luis Obispo, CA 93401Clothing and Clothing Accessories StoresTerm Loan7%3/31/202523.0  23.0  —  — %
T and B Boots Inc dba Takken's Shoes(*,#,^)72 South Main St., Templeton, CA 93465Clothing and Clothing Accessories StoresTerm Loan7.25%6/17/2026204.5  204.5  —  — %
T and B Boots Inc dba Takken's Shoes(*,#)72 South Main St., Templeton, CA 93465Clothing and Clothing Accessories StoresTerm Loan7.25%12/7/202695.2  95.2  93.9  0.03 %
Tarver-Henley Inc. and Tar-Hen LLC(*,#,^)2125 College Ave, Jackson, AL 36545Building Material and Garden Equipment and Supplies DealersTerm Loan7.75%6/21/204297.8  97.8  82.5  0.03 %
The Jig, LLC(*,#,^)3115 Camp Phillips Rd, Wausau, WI 54403Food Services and Drinking PlacesTerm LoanPrime plus 2.75%10/24/204274.8  74.8  71.0  0.02 %
The Lake Shore Hospitality Inc dba Dowagiac Baymont Inn & Suites(*,#,^)29291 Amerihost Drive, Dowagiac, MI 49047AccommodationTerm Loan8.25%12/5/2041335.1  335.1  322.1  0.10 %
The Woods at Bear Creek LLC and Bear Creek Entertainment LLC(*,#)3510 Bear Creek Rd, Franklinville, NY 14737AccommodationTerm Loan7%9/29/2039489.6  489.6  464.4  0.14 %
Transmission Solutions Group, Inc. and Calhoun Satellite Communication(*,#)1007 &1009 Old Route 119, Hunker, PA 15639TelecommunicationsTerm Loan7%12/2/204164.7  64.7  —  — %
Victorian Restaurant and Tavern, LLC(*,#,^)226 Maple Ave, Cheshire, CT 06410Food Services and Drinking PlacesTerm Loan8.25%2/22/2042104.4  104.4  88.5  0.03 %
Vision Automotive LLC dba Vision Chrysler Jeep Dodge Ram of Defiance(*,#,^)20390 County RD 424, Defiance, OH 43512Motor Vehicle and Parts DealersTerm Loan7.5%9/29/2029289.3  289.3  125.8  0.04 %
Vision Collision Center LLC dba Integrity Auto Body & Vision(*,#)20502 County Rd 424, Defiance, OH 43512Repair and MaintenanceTerm Loan7.5%11/21/2027349.2  349.2  —  — %
Warner Family Restaurant LLC dba Burgerim(*,#)250 North Nova Rd, Ormond Beach, FL 32174Food Services and Drinking PlacesTerm Loan8%5/3/202820.1  20.1  2.8  — %
Webb Eye Associates, PA(*,#,^)1720 S W W White Rd, San Antonio, TX 78220Ambulatory Health Care ServicesTerm Loan7.25%7/19/202771.2  71.2  36.1  0.01 %
White Hawk Inc.(*,#,^)2101 Dr. Martin Luther King Jr. Blvd, Stockton, CA 95205Truck TransportationTerm Loan8.25%12/15/2026937.3  937.3  912.8  0.28 %
Wilban LLC(*,#,^)454 US Hwy 22, Whitehouse Station, NJ 08889Food Services and Drinking PlacesTerm Loan7.5%3/11/202693.2  93.2  90.8  0.03 %
Wilban LLC(*,#)454 US Hwy 22, Whitehouse Station, NJ 08889Food Services and Drinking PlacesTerm Loan7.25%3/28/2039402.7  402.7  265.5  0.08 %
Work of Heart Inc dba Little Nest Portraits(*,#)1000 Merdian Blvd, Ste 112, Franklin, TN 37067Professional, Scientific, and Technical ServicesTerm Loan7.5%1/10/20285.2  5.2  5.1  — %
Work of Heart Inc dba Little Nest Portraits(*,#,^)1000 Merdian Blvd, Ste 112, Franklin, TN 37067Professional, Scientific, and Technical ServicesTerm Loan7.5%7/28/202747.1  47.1  45.9  0.01 %
285
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Unguaranteed Non-Accrual Investments (3) (22)271346
Zeeba Company, Inc dba Zeeba Rent-A-Van & 5 Star Rent- A-Van(*,#,^)3200 Wilshire Blvd Ste 1000, Los Angeles, CA 90010Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%9/27/2028677.3  677.3  607.5  0.19 %
Zahmel Restaurant Suppliers Corp dba Cash & Carry; Zahners Hardware(*,#,^)33-51 11th St., Astoria, NY 11106Merchant Wholesalers, Nondurable GoodsTerm Loan8.25%4/28/202775.8  75.8  65.9  0.02 %
Total Unguaranteed Non-Accrual SBA Investments$58,912.6  $59,085.0  $34,236.8  10.63 %
Total Unguaranteed SBA Investments$429,524.8  $429,697.2  $417,223.1  129.48 %

SBA Guaranteed Accrual Investments (4a)271,346  
Matrix Z LLC800 SW 21st Terrace, Ft Lauderdale, FL 33312Nonmetallic Mineral Product ManufacturingTerm LoanPrime plus 6.5%2/27/202912.0  12.0  12.0  — %
Rello Inc.8063 Jericho Turnpike, Woodbury, NY 11797Personal and Laundry ServicesTerm LoanPrime plus 6.5%4/17/20295.8  5.8  5.8  — %
2Choice2Friends LLC901 W Braker Lane, Austin, TX 78758Food Services and Drinking PlacesTerm LoanPrime plus 6.5%4/17/202912.1  12.1  12.1  — %
Al Russell Moldof's CPA15105 John J Delaney Dr. #D 170, Charlotte, NC 28277Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%4/25/20294.8  4.8  4.8  — %
Disability Resolution1619 Malon Bay Drive, Orlando, FL 32828Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%4/30/20294.3  4.3  4.3  — %
NYM Solutions Inc.1250 NW 7th St. Ste 201, Miami, FL 33125Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%5/6/202912.2  12.2  12.2  — %
Crystal Cleaning Service10862 Nichols Blvd, Olive Branch, MS 38654Administrative and Support ServicesTerm LoanPrime plus 6.5%5/9/20299.9  9.9  9.9  — %
Clowers Trucking by Faith LLC705 E Brookwood PL, Valdosta, GA 31601Truck TransportationTerm LoanPrime plus 6.5%5/23/202912.1  12.1  12.1  — %
MCM Design LLC5926 Vinings Vintage Way, Mableton, GA 30126Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%5/23/20299.8  9.8  9.8  — %
Still Photography195 Terrace Place, Apt. 2, Brooklyn, NY 11218Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/6/202912.2  12.2  12.2  — %
Archer Cleaners Inc.1514 W 33rd St., Chicago, IL 60608Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/10/202912.2  12.2  12.2  — %
Law Office of Paula Padilla PLLC2211 E Highland Ave Ste 130, Phoenix, AZ 85016Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%6/13/20294.9  4.9  4.9  — %
Bonadi Inc.9858 W Sample Rd, Coral Springs, FL 33065Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/17/202912.2  12.2  12.2  — %
AA Horseplay, LLC34565 Ranch Drive, Brownsville, OR 97327Animal Production and AquacultureTerm LoanPrime plus 6.5%6/20/202912.2  12.2  12.2  — %
Campuscuts LLC930 Robtrice Ct, Edmond, OK 73430Personal and Laundry ServicesTerm LoanPrime plus 6.5%6/21/20297.3  7.3  7.3  — %
286
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)271,346  
Port Diesel LLC3212 Alex Trask Drive, Castle Hayne, NC 28429Repair and MaintenanceTerm LoanPrime plus 6.5%6/21/202912.3  12.3  12.3  — %
Menshka Inc.88 High St., Mountclair, NJ 07042Ambulatory Health Care ServicesTerm LoanPrime plus 6.5%7/10/202912.3  12.3  12.3  — %
The Bean Coffee Company, LLC112 South Main St., Spring Hill, KS 66083Food Services and Drinking PlacesTerm LoanPrime plus 6.5%7/17/202912.3  12.3  12.3  — %
Lawrence Adeyemo & Co LLC209-34 112 Ave, Queens Village, NY 11429Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%7/19/20299.8  9.8  9.8  — %
Gradstreet LLC2437 Corinth Ave Apt 130, Los Angeles, CA 90064Nonstore RetailersTerm LoanPrime plus 6.5%7/30/202912.3  12.3  12.3  — %
A&S Services LLC3888 Lightner Rd, Vandalia, OH 45377Food Services and Drinking PlacesTerm LoanPrime plus 6.5%8/7/202912.3  12.3  12.3  — %
Crystal Clear Accounting34099 Tuscan Creek Way, Temecula, CA 92592Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%8/26/20293.2  3.2  3.2  — %
Doghouse Sport Fishing Charters Inc.83413 Overseas Hwy, Islamorada, FL 33036Scenic and Sightseeing TransportationTerm LoanPrime plus 6.5%8/30/202912.3  12.3  12.3  — %
No Push Back LLC2223 Dungan Ave, Bensalem, PA 19020Personal and Laundry ServicesTerm LoanPrime plus 6.5%8/30/202912.2  12.2  12.2  — %
Softcare247 LLC4191 Naco Perrin Blvd, San Antonio, TX 78217Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/11/202912.4  12.4  12.4  — %
Host Marketing LLC206 Bell Lane Ste B, West Monroe, LA 71291Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%9/18/202912.4  12.4  12.4  — %
Standard Real Estate Services LLC500 W Silver Spring Dr. #K 200, Glendale, WI 53217Real EstateTerm LoanPrime plus 6.5%9/19/202912.4  12.4  12.4  — %
Chavero's Auto Mart LLC1364 E Palma Vista Drive, Palmview, TX 78572Motor Vehicle and Parts DealersTerm LoanPrime plus 6.5%10/11/202912.5  12.5  12.5  — %
Bargain Store107 Tabernacle Church Rd, Candor, NC 27229General Merchandise StoresTerm LoanPrime plus 6.5%10/11/202912.4  12.4  12.4  — %
Powerlift Dumbwaiters Inc.2444 Georgia Slide Rd, Georgetown, CA 95634Machinery ManufacturingTerm LoanPrime plus 6.5%10/16/202912.5  12.5  12.5  — %
Pine Mountain Residential LLC10240 Cosmopolitan Circle, Parker, CO 80134Specialty Trade ContractorsTerm LoanPrime plus 6.5%10/16/202912.4  12.4  12.4  — %
James Clark and Company Inc.8885 Haven Ave, Ste 120, Rancho Cucamonga, CA 91730Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%10/22/202912.4  12.4  12.4  — %
Deer Valley Sport Shop LLC507 Bamboo Rd, Boone, NC 28607Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 6.5%11/7/202912.5  12.5  12.5  — %
Sean McNamara5639 Wood Lane, Allentown, PA 18106Nonstore RetailersTerm LoanPrime plus 6.5%11/14/202912.5  12.5  12.5  — %
Bucklin Sumner & Associates650 NE Holladay St. Ste 1600, Portland, OR 97232Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm LoanPrime plus 6.5%11/14/202912.5  12.5  12.5  — %
287
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)271,346  
The Pinnacle Group105 Springside Drive, Akron, OH 44333Social AssistanceTerm LoanPrime plus 6.5%11/14/202912.5  12.5  12.5  — %
Pen’s Electric Company, Inc504 Fairfax Ave, Nashville, TN 37212Specialty Trade ContractorsTerm LoanPrime plus 6.5%11/21/202912.5  12.5  12.5  — %
Standard Capital Corp.2377 Wessington Drive, Virginia Beach, VA 23456Insurance Carriers and Related ActivitiesTerm LoanPrime plus 6.5%12/5/202912.5  12.5  12.5  — %
Scott’s Hardware Inc200 Tuckerton Rd, Medford, NJ 08055Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 6.5%12/6/202912.5  12.5  12.5  — %
HADD Corp364 Rugby Rd, Cedarhurst, NY 11516Professional, Scientific, and Technical ServicesTerm LoanPrime plus 6.5%12/17/202912.5  12.5  12.5  — %
La Tradicion Cubana Inc.1336 SW 8th St., Miami, FL 33135Miscellaneous Store RetailersTerm LoanPrime plus 6.5%12/20/202912.5  12.5  12.5  — %
Moon Group, Inc.145 Moon Rd, Chesapeake City, MD 21915Merchant Wholesalers, Nondurable GoodsTerm LoanPrime plus 2.75%6/27/20293,660.2  3,660.2  4,057.4  1.26 %
Beau & HB Inc. dba Beau’s Billard, Bowling & Arcade100 Village Rd, Port Lavaca, TX 77979Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/16/2029123.3  123.3  132.7  0.04 %
Hackstaff Restaurants248 W 1st St. Ste 201, Reno, NV 89501Food Services and Drinking PlacesTerm LoanPrime plus 2.75%7/15/2029442.9  442.9  479.4  0.15 %
MVE, Inc.1117 L St., Modesto, CA 95354Professional, Scientific, and Technical ServicesTerm LoanPrime plus 2.75%9/30/20293,678.2  3,678.2  4,082.8  1.27 %
American Landscaping Company6151 A St., Anchorage, AK 99518Administrative and Support ServicesTerm LoanPrime plus 2.75%12/27/2029978.8  978.8  1,078.7  0.33 %
Home Décor Liquidators LLC4187 Pleasant Hill Rd, Duluth, GA 30096Furniture and Home Furnishings StoresTerm LoanPrime plus 2.75%12/30/20292,962.5  2,962.5  3,227.1  1.00 %
National Stone Management804-810 W Shady Grove Rd, Grand Prairie, TX 75050Building Material and Garden Equipment and Supplies DealersTerm LoanPrime plus 2.75%8/31/2044810.1  810.1  895.2  0.28 %
2820 US Hwy 98N LLC2820 US Hwy 98 N, Lakeland, FL 33805Repair and MaintenanceTerm LoanPrime plus 2.75%5/23/2029129.1  129.1  141.5  0.04 %
LuluBelle's Mountain Banana Bread LLC1063 Carousel Rd, Lake Arrowhead, CA 92352Food ManufacturingTerm LoanPrime plus 2.75%4/21/2045230.6  230.6  257.6  0.08 %
Shooter's Gun Club LLC2429 Iowa St. Ste B-D, Lawrence, KS 66046Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%2/27/2030394.7  394.7  434.7  0.13 %
Love Playing LLC2200 Eastridge Loop, San Jose, CA 95122Amusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 2.75%3/9/2030298.8  298.8  329.2  0.10 %
AJN Innocations LLC6704 Main St., Miami Lakes, FL 33014Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/15/203073.9  73.9  81.4  0.03 %
Oak Park Social14691 W 11 Mile Rd, Oak Park, MI 48237Food Services and Drinking PlacesTerm LoanPrime plus 2.75%2/12/2045290.6  290.6  325.7  0.10 %
Natalie Hart LLC1702 Fawn Gate St, San Antonio, TX 78248Personal and Laundry ServicesTerm LoanPrime plus 2.75%12/18/2029100.1  100.1  110.4  0.03 %
The Cow Harbor Beer Company19 Scudder Ave, Northport, NY 11768Beverage and Tobacco Product ManufacturingTerm LoanPrime plus 2.75%7/11/2030272.9  272.9  300.7  0.09 %
288
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
SBA Guaranteed Accrual Investments (4a)271,346  
IV Purpose Inc.1489 Fulton St., Brooklyn, NY 11216Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/25/202978.2  78.2  86.2  0.03 %
Jbang LLC125 Westchester Ave, White Plains, NY 10601Food Services and Drinking PlacesTerm LoanPrime plus 2.75%11/25/202960.0  60.0  66.1  0.02 %
NJ Floats327 Rte 202/206, Bedminster Township, NJ 07921Computer and Electronic Product ManufacturingTerm LoanPrime plus 2.75%5/12/204578.8  78.8  88.4  0.03 %
Coral Springs Family Wellness LLC2902 North University Drive, Coral Springs, FL 33065Ambulatory Health Care ServicesTerm LoanPrime plus 2.75%3/21/2030177.4  177.4  195.5  0.06 %
Ohanyan LLC14006 Riverside Dr. #9270, Sherman Oaks, CA 91423Food Services and Drinking PlacesTerm LoanPrime plus 2.75%12/6/202999.8  99.8  109.9  0.03 %
Kuros LLC dba Alexander Lake Lodge21221 Baron Lake Drive, Cedaredge, CO 81413AccommodationTerm LoanPrime plus 2.75%3/19/204527.9  27.9  31.4  0.01 %
Richwood Enterprises LLC2564 Branch St., Middleton, WI 53562Transit and Ground Passenger TransportationTerm LoanPrime plus 2.75%12/24/2029402.5  402.5  443.4  0.14 %
Icebox Café219 NE 3rd St., Hallendale Beach, FL 33009Food Services and Drinking PlacesTerm LoanPrime plus 2.75%4/26/2030728.8  728.8  802.8  0.25 %
Total SBA Guaranteed Accrual Investments$16,555.0  $16,555.0  $18,213.1  5.65 %
SBA Guaranteed Non-Accrual Investments (4b)
American Pharmaceutical Innovation Company, LLC(*)1425 Centre Circle, Downers Grove, IL 60515Chemical ManufacturingTerm LoanPrime plus 2.75%3/28/202762.1  62.1  62.1  0.02 %
MIT LLC(*)11 North Peach ST., Medford, OR 97504Publishing Industries (except Internet)Term LoanPrime plus 2.75%3/31/2042254.7  254.7  254.7  0.08 %
Neville Galvanizing, Inc(*)2983 Grand Ave, Pittsburgh, PA 15225Fabricated Metal Product ManufacturingTerm LoanPrime plus 2.75%12/15/20421,875.0  1,875.0  1,875.0  0.58 %
Kneading Dough LLC dba NY Bagel Cafe & Deli,NY Bagle(*)10287 Okeechobee Blvd #13, Royal Palm Beach, FL 33411Food Services and Drinking PlacesTerm LoanPrime plus 2.75%8/23/2029102.5  102.5  102.5  0.03 %
Simkar LLC, Neo Lights Holding Inc, Kalco Lighting, LLC(*)700 Ramona Ave, Philadelphia, PA 19120Electrical Equipment, Appliance, and Component ManufacturingTerm LoanPrime plus 2.75%12/26/20434,496.2  4,496.2  4,496.2  1.40 %
Total SBA Guaranteed Non-Accrual Investments$6,790.5  $6,790.5  $6,790.5  2.11 %
Total SBA Guaranteed Investments$23,345.5  $23,345.5  $25,003.6  7.76 %
Total SBA Unguaranteed and Guaranteed Investments$452,870.3  $453,042.7  $442,226.7  137.24 %

289
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Controlled Investments (5) (22)271346
Advanced Cyber Security Systems, LLC(*,#) (6) (21)3880 Veterans Memorial Hwy. Suite 201, Bohemia, NY 11716Data processing, Hosting, and Related Services50% Membership Interest—%—  —  —  —  — %
Term Loan3%Dec 2014381.0  381.0  —  — %
Automated Merchant Services, Inc.(*,#) (7) (21)12230 Forest Hill Blvd., Wellington, FL 33414Data processing, Hosting, and Related Services100% Common Stock—%—  —  —  —  — %
CDS Business Services, Inc.(*,#) (8)1985 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Common Stock—%—  —  4,428.0  3,000.0  0.93 %
Line of Credit10%Dec 20205,000.0  5,000.0  5,000.0  1.55 %
Term Loan10%April 2020—  —  —  — %
Newtek Technology Solutions, Inc.(*,#) (11)1904 W. Parkside Lane Phoenix, AZ 85027Data processing, Hosting, and Related Services100% Common Stock—%—  —  8,384.0  9,000.0  2.79 %
Line of Credit10%Nov 202810,361.0  10,361.0  10,361.0  3.22 %
Newtek Insurance Agency, LLC(*,#) (13)1981 Marcus Ave., Lake Success, NY 11042Insurance Carriers and Related Activities100% Membership Interest—%—  —  135.0  2,215.0  0.69 %
PMTWorks Payroll, LLC(*,#) (9)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%—  —  1,728.1  —  — %
Term Loan10%Oct 2021435.0  435.0  —  — %
Term Loan10%May 2020750.0  750.0  —  — %
Term Loan12%May 2020500.0  500.0  —  — %
Term Loan10%July 20201,000.0  1,000.0  —  — %
Small Business Lending, LLC(*,#) (12) (21)1981 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%—  —  598.0  9,650.4  2.99 %
Term Loan10%June 2021400.0  400.0  400.0  0.12 %
ADR Partners, LLC dba banc-serv Partners, LLC(*,#) (12)8777 Purdue Rd, Indianapolis, IN 46268Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%—  —  7,085.2  —  — %
International Professional Marketing, Inc.(#) (16)151 W. 30th St., New York, NY 10001Professional, Scientific, and Technical Services100% Common Stock—%—  —  4,000.0  4,150.0  1.29 %
Line of CreditPrime plus 0.5%April 2021—  —  —  — %
290
See accompanying notes to consolidated financial statements.
NEWTEK BUSINESS SERVICES CORP. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
DECEMBER 31, 2019
(In Thousands)

Portfolio CompanyTickmarksCompany AddressIndustryType of InvestmentInterest Rate (2)MaturityPrincipalCostFair Value% of Net Assets
Controlled Investments (5) (22)271346
SIDCO, LLC(#) (16)151 W. 30th St., New York, NY 10001Professional, Scientific, and Technical Services100% Membership Interest—%—  —  7,119.7  6,649.7  2.06 %
Line of CreditPrime plus 0.5%July 2020100.0  850.0  850.0  0.26 %
Newtek Merchant Solutions, LLC(#) (11)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%—  —  16,438.0  121,250.0  37.63 %
Mobil Money, LLC(#) (17)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related Services100% Membership Interest—%—  —  2,980.0  3,750.0  1.16 %
Newtek Business Lending, LLC(*,#) (10)14 East Washington St., Orlando, FL 32801
Securities, Commodity Contracts, and Other Financial Investments and Related Activities100% Membership Interest—%—  —  18,623.0  22,252.7  6.91 %
Newtek Conventional Lending, LLC(#) (18) (25) (26)1981 Marcus Ave., Lake Success, NY 11042Securities, Commodity Contracts, and Other Financial Investments and Related Activities50% Membership Interest—%—  —  14,270.0  16,122.8  5.00 %
Titanium Asset Management, LLC(*,#) (14)1981 Marcus Ave., Lake Success, NY 11042Administrative and Support ServicesTerm Loan10%March 2021900.0  900.0  390.4  0.12 %
100% Membership Interest—%—  —  —  —  — %
Excel WebSolutions, LLC(*,#) (15)888 East Brighton Ave. Syracuse, NY 13205Data processing, Hosting, and Related ServicesTerm Loan10%Sept 2020159.2  159.2  —  — %
50% Membership Interest——  —  —  —  — %
POS on Cloud, LLC(#) (20)1981 Marcus Ave., Lake Success, NY 11042Data processing, Hosting, and Related ServicesTerm Loan10%Sept 2023775.0  775.0  775.0  0.24 %
50.14% Membership Interest——  —  —  —  — %
Total Controlled Investments$20,761.2  $107,300.2  $215,817.0  66.98 %
Non-Control/Affiliate Investments (22)
EMCAP Loan Holdings, LLC(+,#) (19) (25)1140 Reservoir Ave., Cranston, RI 02920Securities, Commodity Contracts, and Other Financial Investments and Related Activities6.04% Membership Interest—%—  $—  $1,000.0  $1,000.0  0.31 %
Total Investments$473,631.5  $561,342.9  $659,043.7  204.53 %

291
See accompanying notes to consolidated financial statements.

^ Denotes investment has been pledged as collateral under the Securitization Trusts.
* Denotes non-income producing security.
# Denotes fair value determined using significant unobservable inputs.
+ Denotes restricted security.
(1) Newtek values each unguaranteed portion of SBA 7(a) accrual loans (“Loan”) using a discounted cash flow analysis which projects future cash flows and incorporates projections for Loan pre-payments and Loan defaults using historical portfolio data. The data predicts future prepayment and default probability on curves which are based on Loan age. The recovery assumption for each Loan is specific to the discounted valuation of the collateral supporting that Loan. Each Loan’s cash flow is discounted at a rate which approximates a market yield. The Loans were originated under the SBA 7(a) program and conform to the underwriting guidelines in effect at their time of origination. Newtek has been awarded PLP status from the SBA. Portions of these Loans are not guaranteed by the SBA. Individual loan participations can be sold to institutions which have been granted an SBA 750 license. Loans can also be sold as a pool of loans in a security form to qualified investors.
(2) The interest rates in effect on our loans as of December 31, 2019 are based off a Prime Rate equal to 5.00% and 1 month LIBOR equal to 1.76250%.
(3) Newtek values non-accrual SBA 7(a) loans using a discounted cash flow analysis of the underlying collateral which supports the loan. Net recovery of collateral, (fair value less cost to liquidate) is applied to the discounted cash flow analysis based upon a time to liquidate estimate. Modified loans are valued based upon current payment streams and are re-amortized at the end of the modification period.
(4a) Newtek values guaranteed accrual SBA 7(a) loans using the secondary SBA 7(a) market as a reference point. Newtek routinely sells accrual SBA 7(a) loans into this secondary market. Guaranteed portions of SBA 7(a) loans partially funded as of the valuation date are valued using level two inputs as disclosed in NOTE 6—FAIR VALUE MEASUREMENTS.
(4b) Newtek values guaranteed non-accrual loans based on the estimated recovery under the SBA guarantee, which is at cost.
(5) Controlled Investments are disclosed above as equity investments (except as otherwise noted) in those companies that are “Controlled Investments” of the Company as defined in the Investment Company Act of 1940. A company is deemed to be a “Controlled Investment” of Newtek Business Services Corp. if Newtek Business Services Corp. or its subsidiaries owns more than 25% of the voting securities of such company. See NOTE 4—TRANSACTIONS WITH AFFILIATED COMPANIES AND RELATED PARTY TRANSACTIONS in the accompanying notes to the consolidated financial statements of our annual report on Form 10-K filed with the SEC on March 16, 2020 for transactions during the year ended December 31, 2019 with affiliates the Company is deemed to control.
(6) 50% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.), 50% owned by non-affiliate. The term loan is past its original maturity date and currently in default. As such, the fair value of the investment is zero.
(7) 96.11% owned by Wilshire Partners, LLC (a subsidiary of Newtek Business Services Corp.), 3.89% owned by Newtek Business Services Corp.
(8) 50.15% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.) and 49.85% owned by Wilshire Holdings 1, Inc. (a subsidiary of Newtek Business Services Corp.).
(9) 25% owned by The Whitestone Group, LLC, (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.), 65% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.), and 10% owned by Exponential Business Development Co., Inc. (a subsidiary of Newtek Business Services Corp.).
(10) 100% owned by Newtek Business Services Holdco 6, Inc. (a subsidiary of Newtek Business Services Corp.
(11) 100% owned by NBSH Holdings, LLC (a subsidiary of Newtek Business Services Holdco 1, Inc., a subsidiary of Newtek Business Services Corp.). Premier was merged with NMS at December 31, 2018.
(12) 100% owned by Newtek LSP Holdco, LLC (a subsidiary of Wilshire Holdings I, Inc. and Newtek Business Services Holdco 5, Inc., both subsidiaries of Newtek Business Services Corp.).
(13) 100% owned by Wilshire Holdings I, Inc. (a subsidiary of Newtek Business Services Corp.).
(14) 50% owned by Exponential Business Development Co., Inc. (a subsidiary of Newtek Business Services Corp.), 47.8% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.) and 2.2% owned by Wilshire New York Advisers II, LLC (a subsidiary of Newtek Business Services Corp.).
(15) 50% owned by The Whitestone Group, LLC (a subsidiary of Wilshire Holdings I, Inc., a subsidiary of Newtek Business Services Corp.) and 50% owned by non-affiliate.
(16) 100% owned by Newtek Business Services Holdco 2, Inc. (a subsidiary of Newtek Business Services Corp.).
(17) 100% owned by Newtek Business Services Holdco 4, Inc. (a subsidiary of Newtek Business Services Corp.).
292
See accompanying notes to consolidated financial statements.

(18) On May 20, 2019, the Company and its joint venture partner launched Newtek Conventional Lending, LLC (“NCL”) to provide non-conforming conventional commercial and industrial term loans to U.S. middle-market companies and small businesses. NCL is 50% owned by Newtek Commercial Lending, Inc. (a subsidiary of Newtek Business Services Corp.) and 50% owned by Conventional Lending TCP Holding, LLC (a wholly-owned, indirect subsidiary of BlackRock TCP Capital Corp. (NASDAQ:TCPC)). Deemed an investment company under the 1940 Act.
(20) 50.13% owned by Newtek Business Services Holdco 3, Inc. (a subsidiary of Newtek Business Services Corp.) and 49.87% owned by multiple non-affiliates.
(21) Zero cost basis is reflected as the portfolio company was organized by the Company and incurred internal legal costs to organize the entity and immaterial external filing fees which were expensed when incurred.
(22) All of the Company’s investments are in entities which are organized under the Laws of the United States and have a principal place of business in the United States.
(23) The fair value of the investment was determined using significant unobservable inputs.
(24) The Company’s investments generally are acquired in private transactions exempt from registration under the Securities Act and, therefore, generally are subject to limitations on resale, and may be deemed to be “restricted securities” under the Securities Act. However, unless otherwise indicated, such securities may be sold in certain transactions (generally to qualified institutional buyers) and remain exempt from registration.
(25) Restricted security.
(26) Under the Investment Company Act of 1940, as amended, the Company may not acquire any non-qualifying assets unless, at the time the acquisition is made, qualifying assets represent at least 70% of the Company’s total assets. At December 31, 2019, 7.1% of total assets are non-qualifying assets.

As of December 31, 2019, the federal tax cost of investments was $561,343,000 resulting in estimated gross unrealized gains and losses of $155,414,000 and $49,330,000, respectively.

293
See accompanying notes to consolidated financial statements.

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

NOTE 1—DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION:

Newtek Business Services Corp. is a Maryland corporation which was formed in August 2013 and is an internally managed, closed end, non-diversified investment company. The Company’s investment strategy is to maximize the investment portfolio’s return by generating current income from the debt investments the Company makes and generate dividend income from equity investments in controlled portfolio companies.

The Company has formed certain Taxable Subsidiaries, which are taxed as corporations for federal income tax purposes. These Taxable Subsidiaries allow the Company to hold equity securities of portfolio companies organized as pass-through entities while continuing to satisfy the requirements of a RIC under the Code.
The following wholly-owned subsidiaries are consolidated in the financial statements of the Company:
Newtek Small Business Finance, LLC
Newtek Asset Backed Securities, LLC
CCC Real Estate Holdings, LLC
The Whitestone Group, LLC
Wilshire DC Partners, LLC
Wilshire Holdings I, Inc.
Wilshire Louisiana BIDCO, LLC
Wilshire Louisiana Partners II, LLC
Wilshire Louisiana Partners III, LLC
Wilshire Louisiana Partners IV, LLC
Wilshire New York Advisers II, LLC
Wilshire New York Partners III, LLC
Wilshire Partners, LLC
Exponential Business Development Co., Inc.
Newtek Commercial Lending, Inc.
Newtek LSP Holdco, LLC
NBSH Holdings, LLC
Newtek Business Services Holdco 1, Inc.
Newtek Business Services Holdco 2, Inc.
Newtek Business Services Holdco 3, Inc.
Newtek Business Services Holdco 4, Inc.
Newtek Business Services Holdco 5, Inc. (formerly Banc-Serv Acquisition, Inc.)
Newtek Business Services Holdco 6, Inc.
Except as otherwise noted, all financial information included in the tables in the following footnotes is stated in thousands, except per share data.

294

The accompanying notes to the unaudited condensed consolidated financial statements should be read in conjunction with Newtek’s Annual Report for the year ended December 31, 2019 on Form 10-K. The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP and pursuant to the requirements for reporting on Form 10-Q and Article 10 of Regulation S-X and, therefore, omit or condense certain footnotes and other information normally included in financial statements prepared in accordance with U.S. GAAP. In the opinion of management, the condensed consolidated financial statements reflect all adjustments and reclassifications that are necessary for the fair presentation of financial results as of and for the periods presented. The results of operations for an interim period may not give a true indication of the results for the entire year. The December 31, 2019 consolidated statement of assets and liabilities has been derived from the audited financial statements as of that date. All intercompany balances and transactions have been eliminated in consolidation.

NOTE 2—SIGNIFICANT ACCOUNTING POLICIES:
Fair Value

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

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

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

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

Consolidation 

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

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

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

295

Distributions

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

The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Invested cash is held exclusively at financial institutions of high credit quality. As of June 30, 2020, cash deposits in excess of insured amounts totaled $30,403,000. The Company has not experienced any losses with respect to cash balances in excess of insured amounts and management does not believe there was a significant concentration of risk with respect to cash balances as of June 30, 2020.
Restricted Cash

Restricted cash includes amounts due on SBA loan-related remittances to third parties, cash reserves established as part of a voluntary agreement with the SBA, and cash reserves associated with securitization transactions. As of June 30, 2020, total restricted cash was $40,213,000.

The following table provides a reconciliation of cash and restricted cash as of June 30, 2020 and 2019 and December 31, 2019 and 2018:
June 30, 2020June 30, 2019December 31, 2019December 31, 2018
Cash$13,385  3,585  1,762  $2,316  
Restricted cash40,213  26,094  31,445  29,034  
Cash and restricted cash$53,598  $29,679  $33,207  $31,350  

Broker Receivable

Broker receivable represents amounts due from third parties for loans which have been traded at period end but have not yet settled.
Income Taxes

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on March 27, 2020 and made significant prospective and retroactive changes to the U.S. federal income tax laws (and certain corresponding state and local conformity measures) including: 1) 5-year net operating loss (“NOL”) carrybacks with no taxable income limitation, 2) relaxation of the limitations on interest expense deductions, 3) qualified improvement property eligible for bonus depreciation, 4) acceleration of alternative minimum tax credits and related quick tax refunds, and 5) indirect tax measures, including workplace tax credits and deferral of social security payroll tax. Management has considered the impact of the CARES Act on the Company, its Taxable Subsidiaries, and the underlying portfolio companies, and the Company has reflected these potential impacts in the financial statements, related tax disclosures, and the value of the investments.

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

The Company’s U.S. federal and state income tax returns prior to fiscal year 2015 are generally closed, and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings.

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

Depending on the level of taxable income earned in a tax year, the Company may choose to retain taxable income in excess of current year dividend distributions and would distribute such taxable income in the next tax year. The Company would then pay a 4% excise tax on such income, as required. To the extent that the Company determines that its estimated current year annual taxable income, determined on a calendar year basis, could exceed estimated current calendar year dividend distributions, the Company accrues excise tax, if any, on estimated excess taxable income as taxable income is earned. For the six months ended June 30, 2020 and 2019, no U.S. federal excise taxes were due.

The Company’s Taxable Subsidiaries accrue income taxes payable based on the applicable corporate rates on the net unrealized appreciation generated by the controlled investments held by the Taxable Subsidiaries. Such deferred tax liabilities amounted to $9,465,000 and $12,405,000 at June 30, 2020 and December 31, 2019, respectively, and are recorded as deferred tax liabilities on the consolidated statements of assets and liabilities. The change in deferred tax liabilities is included as a component of net unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

Investment Income

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

In addition, under the PPP that began in the second quarter of 2020, the SBA reimburses the Company for originating loans. Such SBA reimbursements are included as interest income on PPP loans. Such fees are accounted for under ASC-310 Receivables and deferred until the loan is sold to one of our PPP Participants. Income earned in connection with the PPP should not be viewed as recurring and is subject the continuation of the PPP.

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

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

The Company earns a variety of fees from borrowers in the ordinary course of conducting its business, including packaging, legal, late payment and prepayment fees. All other income is recorded when earned. Other income is generally non-recurring in nature and earned as “one time” fees in connection with the origination of new debt investments with non-affiliates.

Investment transactions are accounted for on a trade-date basis. Realized gains or losses on investments are measured by the difference between the net proceeds from the disposition and the cost basis of investment, without regard to unrealized gains or losses previously recognized. The Company reports current period changes in the fair value of investments as a component of the net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

Stock – Based Compensation

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

In February 2016, the FASB issued ASU 2016-02, “Leases,” which amends various aspects of existing accounting guidance for leases, including the recognition of a right of use asset and a lease liability for leases with a duration of greater than one year.
The Company adopted ASC 842 on January 1, 2019 using the modified transition method. As part of the transition to ASC 842, the Company elected the package of practical expedients that allowed it to not reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. The Company recognized the cumulative effect of applying ASC 842 as an opening balance sheet adjustment at January 1, 2019. The comparative information has not been retrospectively adjusted and continues to be reported under the accounting standards in effect for those periods.The adoption of ASC 842 did not have a material impact on the Company’s accompanying consolidated statements of assets and liabilities, statements of operations or statements of cash flows. Due to the adoption of ASC 842, the Company recognized operating lease right-of-use assets and lease liabilities for its operating leases with lease terms greater than one year.

In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820)”, which is intended to improve fair value and defined benefit disclosure requirements by removing disclosures that are not cost-beneficial, clarifying disclosures' specific requirements, and adding relevant disclosure requirements. The ASU is effective for annual reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. The Company elected to early adopt ASU 2018-13 on December 31, 2019. No significant changes to our fair value disclosures were necessary in the notes to the consolidated financial statements in order to comply with ASU 2018-13.

New Accounting Standards

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,(“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts and transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. ASU 2020-04 is effective upon issuance of ASU 2020-04 for contract modifications on a prospective basis. While the Company is currently assessing the impact of ASU 2020-04, the Company does not expect the adoption to have a material impact on its consolidated financial statements.

Segments

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

NOTE 3—INVESTMENTS:

Investments, all of which are in portfolio companies in the United States, consisted of the following at:
June 30, 2020December 31, 2019
CostFair ValueCostFair Value
Non-affiliate debt investments443,435  426,088  453,043  442,227  
Non-control/affiliate equity investments1,000  1,000  1,000  1,000  
Controlled investments:
Equity84,054  183,816  71,519  181,917  
Equity interest in NCL (Joint Venture)15,770  17,464  14,270  16,123  
Debt23,881  20,071  21,511  17,777  
Total investments$568,140  $648,439  $561,343  $659,044  

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SBA unguaranteed investments consisted of the following breakdown of accrual and non-accrual loans at:
June 30, 2020December 31, 2019
CostFair ValueCostFair Value
Accrual$361,925  $372,120  $370,612  $382,986  
Non-Accrual61,629  32,817  59,085  34,237  
Total SBA unguaranteed investments$423,554  $404,937  $429,697  $417,223  

SBA guaranteed investments consisted of the following breakdown of accrual and non-accrual loans at:
June 30, 2020December 31, 2019
CostFair ValueCostFair Value
Accrual$18,804  $20,074  $16,555  $18,213  
Non-Accrual1,077  1,077  6,790  6,791  
Total SBA guaranteed investments$19,881  $21,151  $23,345  $25,004  

On March 27, 2020, Congress passed, and the President of the United States signed into law, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The CARES Act provides an over $2.0 trillion stimulus package to certain businesses and individuals affected by the COVID-19 pandemic, with subsidies to certain existing SBA 7(a) borrowers in which the SBA will pay all principal, interest, and fees on existing performing SBA 7(a) loans for six months beginning with such borrowers’ April 2020 payments. Among other things, the CARES Act allows NSBF, as an SBA 7(a) lender, to originate loans under the newly-established Paycheck Protection Program (“PPP”) as an expansion of the existing SBA Section 7(a) loan program through June 30, 2020. On July 4, 2020, the President of the United States signed a bill to re-open the application window for the PPP until August 8, 2020. The SBA had stopped accepting loan applications at midnight on June 30, 2020 prior to the extension. The July 4, 2020 bill also corrected what has been described as a technical drafting error, in which the CARES Act and the PPP did not initially create separate authorization levels for the SBA 7(a) program and the PPP, which could have left the SBA 7(a) program temporarily unfunded.

Under the PPP, current SBA 7(a) lenders are automatically approved to extend 100% federally guaranteed PPP loans to certain small businesses for amounts up to 2.5 times of those businesses’ average monthly payroll expenses (capped at $10 million). The interest rate on PPP loans is capped at 1.0%, and the loans are forgivable after an 8 up to a 24 week forgiveness period, provided that the borrower uses the loans for eligible purposes (e.g., payroll/benefits (excluding employee compensation above $100,000), mortgage interest, rent and utilities) and maintains its payroll levels. The amount of loan forgiveness will be reduced if the borrower reduces salaries or terminates employees during the forgiveness period.

As a result of the uncertain economic impact to U.S. small businesses created by the COVID-19 pandemic, the Company’s Executive Committee and Lending Team temporarily shifted the focus of NSBF from originating SBA 7(a) loans to originating PPP loans. As of August 6, 2020, NSBF has funded approximately 9,620 PPP loans totaling $1.15 billion though the PPP program. Pursuant to the PPP, the SBA will reimburse a lender authorized to make a PPP loan at a rate, based on the balance of the financing outstanding at the time of disbursement of the PPP loan, of: (i) 5% for PPP loans of not more than $350,000; (ii) 3% for loans of more than $350,000 and less than $2,000,000; and (iii) 1% for loans of not less than $2,000,000.

To facilitate NSBF’s involvement as an authorized lender in the PPP, during the second quarter of 2020, NSBF entered into PPP loan participation agreements where NSBF originates PPP loans and sells 90% participating interests to UBS Bank USA (“UBS”), Stifel Bank (“Stifel”), Morgan Stanley Bank, N.A. (“Morgan Stanley”), and Amalgamated Bank (“Amalgamated”), collectively the “Participants.” The participations are sold at par due to the short term maturity of the loans. NSBF and the Participant share proportionally in all interest and principal payments made on the loans. Subsequently, UBS, Stifel, and Amalgamated amended their agreements with NSBF to allow the banks purchase up to 100% participation interests in certain of the PPP loans originated by NSBF. In connection with the amendments, UBS, Stifel, and Amalgamated purchased the remaining 10% participation interests in their participation loans, bringing their participation interests to 100% as of June 30, 2020. Morgan Stanley continues to hold 90% participation interests. as of June 30, 2020. During the second quarter of 2020, NSBF sold participations in $1.10 billion of PPP loans. NSBF continues to hold the PPP loan notes and the PPP loan documents in order to service the loans. The servicing liability in connection with the PPP loans was deemed immaterial. PPP loan origination fees are recognized as interest income on sale of PPP loan participations.

In accordance with the terms of the PPP participation agreements and SBA regulations and guidance, NSBF, as the originating lender, must continue to hold the PPP loan note, the PPP loan documents and service the PPP loan (i.e., retain all servicing
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rights). Moreover, as the originating lender, NSBF is the party responsible to the SBA with respect to all servicing actions, including requests for advance purchases and loan forgiveness, and will be the party eligible for the guarantee purchase of the PPP loan. NSBF has agreed that it will repurchase from the Participant on demand the Participant’s Percentage of any outstanding principal and interest under the applicable PPP Loan under certain standard representations and warranties, including in the event of a loss due to fraud, gross negligence or willful misconduct on the part of NSBF or any failure to recover under the SBA guarantee as a result of any deficiency in documenting or servicing such PPP Loan by NSBF.

As a result of the uncertain economic impact to U.S. small businesses created by the COVID-19 pandemic, the Company temporarily shifted the focus of NSBF from originating SBA 7(a) loans to originating PPP loans. The following table shows the Company’s SBA guaranteed accrual loans by SBA loan type at:
June 30, 2020December 31, 2019
CostFair ValueCostFair Value
7(a)$12,268  $13,538  $16,555  $18,213  
PPP1
6,536  6,536  —  —  
Accrual SBA guaranteed investments$18,804  $20,074  $16,555  $18,213  
(1) 10% participation interests in 663 SBA guaranteed loans originated under the PPP by NSBF.
The following table shows the Company’s portfolio investments by industry at:
June 30, 2020December 31, 2019
CostFair ValueCostFair Value
Data Processing, Hosting, and Related Services$45,728  $139,755  $45,154  $146,320  
Securities, Commodity Contracts, and Other Financial Investments and Related Activities51,888  52,481  37,930  42,079  
Food Services and Drinking Places40,757  40,915  40,331  40,516  
Professional, Scientific, and Technical Services34,576  33,735  41,514  41,330  
Truck Transportation32,397  27,372  30,172  25,920  
Amusement, Gambling, and Recreation Industries25,978  26,222  25,343  26,787  
Repair and Maintenance18,695  19,379  20,308  20,451  
Ambulatory Health Care Services21,890  18,789  22,146  20,409  
Fabricated Metal Product Manufacturing16,251  16,647  18,230  17,845  
Specialty Trade Contractors16,223  15,622  16,460  15,650  
Personal and Laundry Services12,681  13,380  11,856  12,446  
Administrative and Support Services14,476  13,128  13,733  12,696  
Accommodation11,617  11,692  11,508  11,506  
Merchant Wholesalers, Nondurable Goods11,726  11,190  12,230  11,900  
Merchant Wholesalers, Durable Goods11,126  11,168  10,524  10,713  
Social Assistance9,991  10,999  9,849  10,683  
Food Manufacturing11,650  9,553  11,063  9,161  
Rental and Leasing Services8,895  8,346  9,223  8,780  
Building Material and Garden Equipment and Supplies Dealers7,712  8,004  8,352  8,605  
Gasoline Stations8,602  7,848  9,387  8,756  
Nonstore Retailers7,216  6,944  6,942  6,725  
Motor Vehicle and Parts Dealers6,780  6,927  7,655  7,783  
PPP6,536  6,536  —  —  
Food and Beverage Stores5,644  5,980  5,688  6,018  
NCL (Joint Venture)15,770  17,464  14,270  16,123  
Other113,335  108,363  121,475  119,842  
Total$568,140  $648,439  $561,343  $659,044  

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Newtek Conventional Lending, LLC

On May 20, 2019, the Company and its joint venture partner launched Newtek Conventional Lending, LLC (“NCL”) to provide non-conforming conventional commercial and industrial term loans to U.S. middle-market companies and small businesses. NCL is a 50/50 joint venture between Newtek Commercial Lending, Inc. a wholly-owned subsidiary of Newtek, and Conventional Lending TCP Holding, LLC, a wholly-owned, indirect subsidiary of BlackRock TCP Capital Corp. (Nasdaq:TCPC).

The following table shows NCL’s individual investments as of June 30, 2020:
Portfolio CompanyIndustryType of InvestmentInterest RateMaturityPrincipalCost
Fair Value1
10 28th Ave SW Associates LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%4/1/2045$2,290  $2,244  $2,148  
10 28th Ave SW Associates LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%4/1/20451,289  1,260  1,209  
Cocoa Beach Office LLCOther Activities Related to Credit IntermediationTerm Loan2 Yr Libor plus 5.70%8/1/2044432  417  435  
XL Sports World NJ LLC and XL Soccer World Orlando LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%8/1/20446,217  6,062  6,595  
XL Sports World NJ LLC and XL Soccer World Orlando LLCFitness and Recreational Sport CentersTerm Loan5 Yr Libor plus 5.50%8/1/20444,780  4,661  5,011  
The Emerald Green Group, LLCFull-Service RestaurantTerm Loan2 Yr Libor plus 5.65%8/1/20296,322  6,135  6,255  
The Camera Division, LLCCommecial & Industrial Machinery & EquipmentTerm Loan5 Yr Libor plus 7.25%9/1/202911,144  10,790  11,273  
XL Soccer World Orlando II LLCFitness and Recreational Sport CentersTerm LoanPrime plus 3.25%11/1/20452,193  2,040  2,127  
Foxhall Hospitality, LLCHotels (except Casino Hotels) and MotelsTerm Loan5 Yr Libor plus 6.00%11/1/204410,529  10,318  10,933  
Foxhall Hospitality, LLCHotels (except Casino Hotels) and MotelsTerm Loan5 Yr Libor plus 6.00%11/1/20446,158  6,035  6,395  
JW Aviation LLC and 21 Air LLC and AMN Doral LLCOther Nonscheduled Air Transportation Term Loan2 Yr Libor plus 8.25%12/1/20442,508  2,420  2,986  
Tricare Unlimited LLC and Geron Enterprises LLCNursing Care Facillities(Skilled Nursing Facilities)Term Loan2 Yr Treasury plus 6.51%1/1/20455,731  5,573  6,212  
E Entities LLCExterminating & Pest Control ServicesTerm Loan5 Yr Treasury plus 7.71%1/1/20305,847  5,701  6,287  
Trinity MCC Realty, LLCMotor Vehicle and Parts Dealers Term Loan5 Yr Treasury plus 6.58%2/1/20455,274  5,129  5,746  
Jaffe Real Estate LLCFull-Service RestaurantTerm Loan5 Yr Treasury plus 7.93%4/1/20452,266  2,204  2,695  
Berry Ventures IncPainting & Wall Covering ContractorsTerm Loan5 Yr Treasury plus 7.25%4/1/2045474  461  531  
Total$73,454  $71,450  $76,838  
(1) Fair value determined using significant unobservable inputs.

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The following table shows NCL’s individual investments as of December 31, 2019:
Portfolio CompanyIndustryType of
Investment		Interest RateMaturityPrincipalCost
Fair Value1
10 28th Ave SW Associates LLCAmusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 3.0%4/1/2045$2,295  $2,249  $2,488  
10 28th Ave SW Associates LLCAmusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 3.0%4/1/20451,292  1,263  1,401  
Cocoa Beach Office LLCSecurities, Commodity Contracts, and Other Financial Investments and Related ActivitiesTerm Loan2 Yr Libor plus 5.70%8/1/2044435  420  443  
XL Sports World NJ LLC and XL Soccer World Orlando LLCAmusement, Gambling, and Recreation IndustriesTerm Loan5 Yr Libor plus 5.50%8/1/20446,246  6,090  6,703  
XL Sports World NJ LLC and XL Soccer World Orlando LLCAmusement, Gambling, and Recreation IndustriesTerm Loan5 Yr Libor plus 5.50%8/1/20444,803  4,683  5,093  
The Emerald Green Group, LLCFood Services and Drinking PlacesTerm Loan2 Yr Libor plus 5.65%8/1/20296,503  6,309  6,462  
The Camera Division, LLCElectronics and Appliance StoresTerm Loan2 Yr Libor plus 7.25%9/1/202911,318  10,952  11,514  
XL Soccer World Orlando II LLC and XL Soccer World Orlando LLCAmusement, Gambling, and Recreation IndustriesTerm LoanPrime plus 3.25%11/1/2045770  616  845  
Foxhall Hospitality, LLCHotels (except Casino Hotels) and MotelsTerm Loan5 Yr Libor plus 6.0%11/1/204410,586  10,374  11,121  
Foxhall Hospitality, LLCHotels (except Casino Hotels) and MotelsTerm Loan5 Yr Libor plus 6.0%11/1/20446,192  6,068  6,505  
JW Aviation LLC and 21 Air LLC and AMN Doral LLCOther Nonscheduled Air Transportation Term Loan2 Yr Libor plus 8.25%12/1/20442,520  2,432  3,036  
Tricare Unlimited LLC and Geron Enterprises LLCNursing Care Facillities (Skilled Nursing Facilities)Term Loan2 Yr Libor plus 6.51%1/1/20455,760  5,602  6,316  
E Entities LLCExterminating & Pest Control ServicesTerm Loan2 Yr Libor plus 7.71%1/1/20306,000  5,850  6,499  
Total$64,720  $62,908  $68,426  
(1) Fair value determined using significant unobservable inputs.

The following tables show certain summarized financial information for NCL:
Selected Statement of Assets and Liabilities InformationJune 30, 2020December 31, 2019
(Unaudited)
Cash998  1,299  
Investments in loans, at fair value (amortized cost of $71,450,109 and $62,908,301, respectively)76,839  68,426  
Other assets1,126  1,094  
Total assets$78,963  $70,819  
Bank notes payable$42,960  $36,938  
Other liabilities1,075  1,635  
Total liabilities44,035  38,573  
Net assets34,928  32,246  
Total liabilities and net assets$78,963  $70,819  
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Selected Statements of Operations Information
Interest and other income$1,517  $—  $3,014  $111  
Total expenses914  —  1,799  121  
Net investment (loss) income603  —  1,215  (10) 
Net unrealized appreciation (depreciation) on investments(110) —  (128) 131  
Net increase in net assets resulting from operations493  —  1,087  121  
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NOTE 4—TRANSACTIONS WITH AFFILIATED COMPANIES AND RELATED PARTY TRANSACTIONS:

Transactions with Affiliated Companies

An affiliated company is an entity in which the Company has an ownership of 5% or more of its voting securities. A controlled affiliate is an entity in which the Company owns more than 25% of its voting securities. Transactions related to our investments with controlled and non-controlled affiliated companies for the six months ended June 30, 2020 were as follows:
Portfolio CompanyFair Value at December 31, 2019Purchases (Cost)Principal ReceivedNet Realized Gains/(Losses)Net Unrealized Gains/(Losses)Fair Value at June 30, 2020Interest and Other IncomeDividend Income
Controlled Investments
Newtek Merchant Solutions, LLC (NMS)$121,250  $—  $—  $—  $(6,250) $115,000  $—  $5,400  
Mobil Money, LLC3,750  —  —  —  (1,250) 2,500  —  —  
Newtek Technology Solutions, Inc. (NTS)19,361  460  —  —  500  20,321  540  —  
International Professional Marketing, Inc.4,150  750  —  —  —  4,900  5  150  
SIDCO, LLC7,500  —  (475) —  —  7,025  12  500  
CDS Business Services, Inc.8,000  1,560  —  —  (750) 8,810  317  —  
Small Business Lending, LLC10,050  —  —  —  (2,802) 7,248  20  —  
Newtek Insurance Agency, LLC2,215  —  —  —  —  2,215  —  —  
PMTWorks Payroll, LLC—  85  —  —  (85) —  —  —  
Titanium Asset Management LLC390  —  —  —  (75) 315  —  —  
POS on Cloud, LLC775  75  —  —  —  850  43  —  
Excel WebSolutions, LLC—  —  —  —  —  —  —  —  
Newtek Conventional Lending, LLC16,123  1,500  —  —  (159) 17,464  —  600  
Newtek Business Lending, LLC22,253  13,150  (700) —  —  34,703  —  —  
Total Controlled Investments$215,817  $17,580  $(1,175) $—  $(10,871) $221,351  $937  $6,650  
Non-Control/Affiliate Investments
EMCAP Loan Holdings, LLC$1,000  $—  $—  $—  $—  $1,000  $—  $40  
Total Affiliate Investments$216,817  $17,580  $(1,175) $—  $(10,871) $222,351  $937  $6,690  

Related Party Transactions

Note Payable - Related Parties

In June 2015, the Company entered into the Related Party RLOC. Maximum borrowings under the Related Party RLOC were $38,000,000.

In June 2017, the Related Party RLOC was amended to increase maximum borrowings to $50,000,000. The outstanding balance had an interest rate equal to 1 month LIBOR (with a floor of 0.50%) plus 6.0% or a rate equal to the greater of the Prime Rate or 3.5% plus 5.0%. In November 2018, the Related Party RLOC was amended to reduce the interest rate to the lesser of 1 month LIBOR plus 2.5% or the Prime Rate plus 1.5%.

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At June 30, 2020, the Related Party RLOC interest rate was 2.67%. The Related Party RLOC has a maturity date of November 8, 2023. Outstanding borrowings from NMS at June 30, 2020 under the Related Party RLOC were $0.

For the three months ended June 30, 2020 and 2019, interest expense was $184,000 and $270,000 respectively. For the six months ended June 30, 2020 and 2019, interest expense was $291,000 and $474,000, respectively.

Expenses Incurred from Controlled Portfolio Companies

The Company incurs expenses from certain controlled portfolio companies including managed technology services from NTS, origination and loan processing fees from various related parties and payroll processing fees from PMT.
Three Months EndedSix Months Ended
June 30, 2020June 30, 2019June 30, 2020June 30, 2019
Managed technology services$447  $235  $824  $414  
Origination and loan processing3,105  2,471  5,754  4,659  
Payroll processing fees8  9  17  18  
Total$3,560  $2,715  $6,595  $5,091  

The Company also sub-leases portions of its office space in Lake Success, New York to certain portfolio companies. Amounts charged were as follows:
Three Months EndedSix Months Ended
Portfolio CompanyJune 30, 2020June 30, 2019June 30, 2020June 30, 2019
Newtek Merchant Solutions, LLC (NMS)$58  $52  $117  $117  
Newtek Technology Solutions, Inc.3  3  5  6  
Small Business Lending, LLC74  72  147  93  
Newtek Insurance Agency, LLC16  17  31  36  
CDS Business Services, Inc.21  20  38  35  
PMTWorks Payroll, LLC7  12  16  23  
Newtek Business Lending, LLC1  3  3  4  
Total$180  $179  $357  $314  

Amounts due from related parties were $5,274,000 and $2,972,000 at June 30, 2020 and December 31, 2019, respectively. Amounts due to related parties were $804,000 and $131,000 at June 30, 2020 and December 31, 2019, respectively.

Managerial Assistance Fees from Controlled Investments

The Company offers managerial assistance to all portfolio companies and currently provides managerial assistance to certain controlled portfolio companies. Amounts are charged based on estimates of time and effort spent by certain employees providing managerial services for certain controlled portfolio companies. Fees are recorded on a quarterly basis, are recurring in nature and are charged at an arm’s length basis. The table below summarizes amounts charged to each controlled portfolio company, and are recorded as a credit to salaries and benefits in the consolidated statements of operations.
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Three Months EndedSix Months Ended
Portfolio CompanyJune 30, 2020June 30, 2019June 30, 2020June 30, 2019
Newtek Merchant Solutions, LLC (NMS)$91  $98  $185  $203  
Newtek Technology Solutions, Inc.125  119  254  232  
PMTWorks Payroll, LLC27  36  61  78  
Newtek Insurance Agency, LLC32  44  63  95  
banc-serv Partners, LLC—  40  —  81  
CDS Business Services, Inc.30  19  59  36  
International Professional Marketing, Inc.24  24  44  46  
SIDCO, LLC23  31  49  64  
Mobil Money, LLC33  29  71  56  
Newtek Business Lending, LLC34  24  67  41  
Small Business Lending, LLC126  107  254  216  
Total$545  $571  $1,107  $1,148  

NOTE 5—SERVICING ASSETS:
Servicing assets are measured at fair value. The Company earns servicing fees from the guaranteed portions of SBA 7(a) loans it originates and sells.
The following table summarizes the fair value and valuation assumptions related to servicing assets at June 30, 2020 and December 31, 2019:
June 30, 2020December 31, 2019
Fair Value$25,511  $24,411  
Discount factor1
13.38 %13.38 %
Cumulative prepayment rate8.00 %26.00 %
Average cumulative default rate30.00 %22.00 %
(1) Determined based on risk spreads and observable secondary market transactions.

Servicing fee income earned for the three months ended June 30, 2020 and 2019 was $2,777,000 and $2,503,000, respectively.
Servicing fee income earned for the six months ended June 30, 2020 and 2019 was $5,492,000 and $4,931,000, respectively.

NOTE 6—FAIR VALUE MEASUREMENTS:

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, management uses various valuation approaches, all of which have been approved by the Company’s Board. In accordance with GAAP, a fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.

The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets for identical assets or liabilities and gives the lowest priority to unobservable inputs (Level 3). The levels of the fair value hierarchy are as follows:
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Level 1  
Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as certain U.S. Treasury, other U.S. Government and agency mortgage-backed debt securities that are highly liquid and are actively traded in over-the-counter markets.
Level 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, corporate debt securities, derivative contracts and residential mortgage loans held-for-sale.
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 rights, and highly structured or long-term derivative contracts.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset or a liability’s categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The Company assesses the levels of assets and liabilities at each measurement date. There were no transfers to or from Level 3 of the fair value hierarchy for assets and liabilities during the six months ended June 30, 2020 or 2019. 

Level 1 investments are valued using quoted market prices. Level 2 investments are valued using market consensus prices that are corroborated by observable market data and quoted market prices for similar assets and liabilities.

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

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

The Company’s investments are subject to market risk. Market risk is the potential for changes in the value due to market changes. Market risk is directly impacted by the volatility and liquidity in the markets in which the investments are traded. In addition, the COVID-19 pandemic is an unprecedented circumstance that could further negatively impact the fair value of the Company’s investments after June 30, 2020 by circumstances and events that are not yet known.

The following tables present fair value measurements of the Company’s assets and liabilities measured at fair value and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values as of June 30, 2020 and December 31, 2019:
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 Fair Value Measurements at June 30, 2020
TotalLevel 1Level 2Level 3
Assets:
SBA unguaranteed non-affiliate investments404,937  —  —  404,937  
SBA guaranteed non-affiliate investments21,151  —  21,151  —  
Controlled investments203,887  —  —  203,887  
Other real estate owned1
2,042  —  2,042  —  
Non-control/affiliate investments1,000  —  —  1,000  
Servicing assets25,511  —  —  25,511  
Controlled investments measured at NAV2
17,464  —  —  —  
Total assets$675,992  $—  $23,193  $635,335  
(1) Included in Other Assets on the Condensed Consolidated Statements of Assets and Liabilities
(2) The Company’s investment in NCL is measured at fair value using NAV and has not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities.

The change in unrealized appreciation (depreciation) included in the condensed consolidated statements of operations attributable to Level 3 investments held at June 30, 2020 includes $6,144,000 in unrealized depreciation on SBA unguaranteed non-affiliate investments, $10,712,000 in unrealized appreciation on controlled investments and $(92,000) in unrealized appreciation on servicing assets.
 Fair Value Measurements at December 31, 2019
TotalLevel 1Level 2Level 3
Assets:
SBA unguaranteed non-affiliate investments417,223  —  —  417,223  
SBA guaranteed non-affiliate investments25,004  —  25,004  —  
Controlled investments199,694  —  —  199,694  
Other real estate owned1
2,539  —  2,539  —  
Non-control/Non-affiliate investments1,000  —  —  1,000  
Servicing assets24,411  —  —  24,411  
Controlled investments measured at NAV2
$16,123  $—  $—  $—  
Total assets$685,993  $—  $27,543  $642,328  
Liabilities:
Contingent consideration liabilities3
$621  $—  $—  $621  
(1) Included in Other Assets on the Consolidated Statements of Assets and Liabilities
(2) The Company’s investment in NCL is measured at fair value using NAV and has not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities.
(3) Included in Accounts Payable, Accrued Expenses and Other Liabilities on the Consolidated Statements of Assets and Liabilities

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The following tables represents the changes in investments, servicing assets and liabilities measured at fair value using Level 3 inputs for the six months ended June 30, 2020 and 2019:
Six Months Ended June 30, 2020
SBA Unguaranteed InvestmentsControlled InvestmentsServicing AssetsNon-Control/Affiliate Investments
Contingent Consideration Liabilities1
Fair value, December 31, 2019$417,223  $199,694  $24,411  $1,000  $621  
Net change in unrealized appreciation (depreciation)(6,144) (10,712) (92) —  —  
Realized loss(3,343) —  —  —  —  
SBA unguaranteed non-affiliate investments, funded17,379  —  —  —  —  
Foreclosed real estate acquired(358) —  —  —  —  
Purchase of investments—  16,080  —  —  —  
Purchase of loans from SBA5,522  —  —  —  —  
Change in fair value of contingent consideration liabilities—  —  —  —  54  
Payment of contingent consideration—  —  —  —  (675) 
Net accretion of premium/discount(4) —  —  —  —  
Return of investment—  (700) —  —  —  
Principal payments received on debt investments(25,339) (475) —  —  —  
Additions to servicing assets—  —  1,192  —  —  
Fair value, June 30, 2020$404,937  $203,887  $25,511  $1,000  $—  
(1) Included in Accounts Payable, Accrued Expenses and Other Liabilities on the Consolidated Statements of Assets and Liabilities
Six Months Ended June 30, 2019
SBA Unguaranteed InvestmentsControlled InvestmentsServicing AssetsNon-Control/Non-Affiliate Investments
Contingent Consideration Liabilities1
Fair value, December 31, 2018$349,402  $171,585  $21,360  $1,000  $1,733  
Net change in unrealized appreciation (depreciation)(1,943) 2,856  (1,467) —  —  
Realized gain (loss)(1,373) —  —  —  —  
SBA unguaranteed non-affiliate investments, funded56,447  —  —  —  —  
Foreclosed real estate acquired(489) —  —  —  —  
Purchase of investments—  4,750  —  —  —  
Return of investment—  (500) —  —  —  
Net accretion of premium/discount(4) —  —  —  —  
Change in fair value of contingent consideration liabilities—  —  —  —  55  
Payment of contingent consideration—  —  —  —  (1,154) 
Principal payments received on debt investments(23,413) (1,485) —  —  —  
Additions to servicing assets—  —  3,506  —  —  
Fair value, June 30, 2019$378,626  $177,206  $23,399  $1,000  $634  
(1) Included in Accounts Payable, Accrued Expenses and Other Liabilities on the Consolidated Statements of Assets and Liabilities

The following tables provide a summary of quantitative information about the Company’s Level 3 fair value measurements as of June 30, 2020 and December 31, 2019. In addition to the inputs noted in the table below, according to our valuation policy we may also use other valuation techniques and methodologies when determining our fair value measurements. The tables below are not intended to be all-inclusive, but rather provide information on the significant Level 3 inputs as they relate to the Company’s fair value measurements at June 30, 2020 and December 31, 2019.
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Range
Fair Value as of June 30, 2020Unobservable Input
Weighted Average (A)
MinimumMaximum
Assets:
SBA unguaranteed non-affiliate investments - accrual loans$372,120  Market yields4.60 %4.60 %4.60 %
SBA unguaranteed non-affiliate investments - non-accrual loans$32,817  Market yields6.81 %6.81 %6.81 %
Controlled equity investments1
$183,816  
EBITDA multiples2
8.60x4.50x9.50x
Revenue multiples2
1.10x0.15x2.30x
Weighted average cost of capital2
13.01 %11.34 %19.82 %
Controlled debt investments$20,071  Market yields9.66 %3.80 %10.00 %
Non-control/affiliate investments$1,000  Asset valueN/AN/AN/A
Servicing assets$25,511  Market yields13.38 %13.38 %13.38 %
(1) Weighted by relative fair value.
(2) The Company valued $137,515,000 of investments using an equal weighting of EBITDA and revenue multiples in the overall valuation approach which included the use of market comparable companies. The Company valued $46,301,000 of investments using only discounted cash flows.
Range
Fair Value as of December 31, 2019Unobservable Input
Weighted Average (A)
MinimumMaximum
Assets:
SBA unguaranteed non-affiliate investments - accrual loans$382,986  Market yields5.20 %5.20 %5.20 %
SBA unguaranteed non-affiliate investments - non-accrual loans$34,237  Market yields5.33 %5.33 %5.33 %
Controlled equity investments1
$181,917  
EBITDA multiples2
8.20x4.50x9.00x
Revenue multiples2
1.07x0.15x2.30x
Weighted average cost of capital2
11.92 %10.70 %18.50 %
Controlled debt investments$17,777  Market yields9.03 %5.25 %10.00 %
Non-control/affiliate investments$1,000  Asset valueN/AN/AN/A
Servicing assets$24,411  Market yields13.38 %13.38 %13.38 %
Liabilities:
Contingent consideration liabilities$621  Projected EBITDA and probability of achievementN/AN/AN/A
(1) Weighted by relative fair value.
(2) The Company valued $143,265,000 of investments using an equal weighting of EBITDA and revenue multiples in the overall valuation approach which included the use of market comparable companies. The Company valued $38,653,000 of investments using only discounted cash flows.
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NOTE 7—BORROWINGS:

At June 30, 2020 and December 31, 2019, the Company had borrowings comprised of the following:
June 30, 2020December 31, 2019
CommitmentsBorrowings OutstandingWeighted Average Interest RateCommitmentsBorrowings OutstandingWeighted Average Interest Rate
Capital One line of credit - guaranteed1
$150,000  $—  2.50 %$150,000  $30,000  4.00 %
Capital One line of credit - unguaranteed1
—  23,640  3.50 %—  —  5.00 %
Notes due 202357,500  56,269  6.25 %57,500  56,035  6.25 %
Notes due 202463,250  61,563  5.75 %63,250  61,354  5.75 %
Notes payable - related parties50,000  —  2.67 %50,000  12,163  4.71 %
Notes payable - Securitization Trusts246,931  243,126  2.42 %276,637  272,376  3.97 %
Total$567,681  $384,598  3.53 %$597,387  $431,928  4.61 %
(1) Total combined commitments of the guaranteed and unguaranteed lines of credit were $150,000,000 at June 30, 2020 and $150,000,000 at December 31, 2019.

As of June 30, 2020, our asset coverage was 184%.

Outstanding borrowings under the 2023 Notes, 2024 Notes and Notes payable - Securitization Trusts consisted of the following:
June 30, 2020December 31, 2019
Notes Due 2023Notes Due 2024Notes Payable- Securitization TrustsNotes Due 2023Notes Due 2024Notes Payable- Securitization Trusts
Principal balance$57,500  $63,250  $246,931  $57,500  $63,250  $276,637  
Unamortized deferred financing costs(1,231) (1,687) (3,805) (1,465) (1,896) (4,261) 
Net carrying amount$56,269  $61,563  $243,126  $56,035  $61,354  $272,376  

At June 30, 2020 and December 31, 2019, the carrying amount of the Company’s borrowings under the Capital One lines of credit, Notes payable - related parties and Notes payable - Securitization Trusts, approximates fair value due to their variable interest rates.

The fair values of the fixed rate 2023 Notes and 2024 Notes are based on the closing public share price on the date of measurement. On June 30, 2020, the closing price of the 2023 Notes was $25.00 per note, or $57,500,000. On December 31, 2019, the closing price of the 2023 Notes was $25.68 per note, or $59,064,000. On June 30, 2020, the closing price of the 2024 Notes was $24.51 per note, or $62,020,000. On December 31, 2019, the closing price of the 2024 Notes was $25.94 per note, or $65,628,000. These borrowings are not recorded at fair value on a recurring basis.
Total interest expense including unused line fees and amortization of deferred financing costs related to borrowings for the six months ended June 30, 2020 and 2019 was $9,788,000 and $9,441,000, respectively. Total interest expense including unused line fees and amortization of deferred financing costs related to borrowings for the three months ended June 30, 2020 and 2019 was $4,605,000 and $4,712,000, respectively.

NOTE 8—COMMITMENTS AND CONTINGENCIES:
Operating and Employment Commitments
The Company leases office space and other office equipment in several states under operating lease agreements which expire at various dates through 2027. Those office space leases which are for more than one year generally contain scheduled rent increases or escalation clauses.
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The following summarizes the Company’s obligations and commitments, as of June 30, 2020 for future minimum cash payments required under operating lease and employment agreements:
YearOperating Leases
Employment Agreements1
Total
2020$822  $805  $1,627  
20211,563  335  1,898  
20221,576  —  1,576  
20231,619  —  1,619  
20241,663  —  1,663  
Thereafter3,670  —  3,670  
Total$10,913  $1,140  $12,053  
(1) Employment agreements with certain of the Company’s named executive officers
Legal Matters

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

In May 2020, the Company became aware of the putative class action styled American Video Duplicating, Inc. et al v. Citigroup Inc. et al. (C.D. Cal. 20-cv-03815) (the “Action”), which asserted claims under the California Unfair Business Practices Law in connection with the alleged failure of lenders to pay agent fees under the PPP. While the Action failed to assert any specific allegations of wrongdoing by the Company or NSBF, the Action named “Newtek Business Services, Inc.” [sic] as one of the 4,990 PPP lender defendants in the Action. On June 15, 2020 the Company was dismissed from the Action. The Company is not currently involved in any additional litigation matters that are expected to have a material impact on the Company’s financial condition.

As a result of a litigation brought by the Federal Trade Commission (the “FTC”) in October 2012, NMS voluntarily entered into, and is presently operating under, a permanent injunction with respect to certain of its business practices.
Guarantees
The Company is a guarantor on the Sterling Receivable and Inventory Facility at NBC. Maximum borrowings under the Sterling Receivable and Inventory Facility are $35,000,000. The Sterling Receivable and Inventory Facility matures in August 2022 and automatically renews annually. At June 30, 2020, total principal owed by NBC was $22,491,000. In addition, the Company deposited $750,000 to collateralize the guarantee. At June 30, 2020, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the NBL Facility. Maximum borrowings under the NBL Facility are $75,000,000 with an accordion feature to increase maximum borrowings to $150,000,000. The NBL Facility matures in July 2021. At June 30, 2020, total principal owed by NBL was $21,931,000. At June 30, 2020, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the Webster Facility, a term loan facility between NMS with Webster Bank with an aggregate principal amount up to $50,000,000. The Webster Facility matures in November 2023. At June 30, 2020, total principal outstanding was $38,125,000. At June 30, 2020, the Company determined that it is not probable that payments would be required to be made under the guarantee.

Unfunded Commitments

At June 30, 2020, the Company had $5,734,000 of unfunded commitments in connection with its SBA 7(a) non-affiliate investments related to portions of loans originated which are partially funded. The Company will fund these commitments from the same sources it uses to fund its other investment commitments.

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At June 30, 2020, NCL had $2,942,000 of unfunded commitments in connection with partial funding of certain of its non-conforming conventional commercial and industrial term loan investments. NCL will fund 50% of the total unfunded commitments. NCL will fund these commitments from the same sources it uses to fund its other investment commitments.
NOTE 9—FINANCIAL HIGHLIGHTS:

The financial highlights for the Company are as follows:
Six Months Ended
June 30, 		Year Ended December 31, Period Ended
Dec. 31, 2014
2020201920192018201720162015
Per share data¹
Net asset value at beginning of period$15.70  $15.19  $15.19  $15.08  $14.30  $14.06  $16.31  $13.49  
Net investment income (loss)1.42  (0.11) (0.29) (0.40) (0.45) (0.64) (0.57) (0.33) 
Net realized gain on investments0.16  1.12  2.61  2.31  2.27  2.17  3.14  0.08  
Net unrealized appreciation (depreciation) on investments(0.84) 0.04  0.24  0.36  0.75  0.85  0.94  0.36  
Net unrealized depreciation on servicing assets—  (0.08) (0.27) (0.30) (0.20) (0.16) (0.13) (0.02) 
Change in deferred taxes0.14  0.04  (0.16) (0.06) (0.12) (0.34) (0.06) —  
Net increase in net assets resulting from operations0.88  0.93  2.13  1.91  2.25  1.88  3.32  0.09  
Distributions to common stockholders(1.00) (0.86) (2.15) (1.80) (1.64) (1.53) (4.45) —  
Stock-based compensation expense0.01  0.01  0.03  0.02  0.05  0.04  —  —  
Consolidation of Exponential Business Development Co., Inc.—  —  —  —  —  (0.03) —  —  
Reversal of deferred tax asset—  —  —  —  —  —  (0.19) —  
Out of period adjustment related to BDC Conversion—  —  —  —  —  —  (0.06) —  
Exponential of New York LLC distributions to members—  —  —  —  —  —  (0.25) —  
Accretive effect of stock offerings (issuing shares above NAV per share)0.08  0.04  0.51  0.04  0.02  —  2.43  2.73  
Accretive effect of shares issued in connection with DRIP (issuing shares above NAV per share)—  0.01  0.01  0.01  0.01  —  —  —  
Dilutive effect of restricted stock awards—  —  (0.01) (0.08) —  (0.11) (3.07) —  
Other⁴
(0.01) 0.01  (0.01) 0.01  0.09  (0.01) 0.02  —  
Net asset value at end of period$15.66  $15.33  $15.70  $15.19  $15.08  $14.30  $14.06  $16.31  
Per share market value at end of period$18.22  $23.00  $22.65  $17.44  $18.49  $15.90  $14.32  $14.76  
Total return based on market value² ⁶(23.97)%26.95 %17.55 %4.06 %26.60 %24.51 %24.46 %13.10 %
Total return based on average net asset value² ³ ⁶6.10 %6.58 %17.48 %12.67 %16.92 %12.59 %13.52 %20.87 %
Shares outstanding at end of period (in thousands)20,905  19,137  20,530  18,919  18,457  14,624  14,509  10,206  
Ratios/Supplemental Data:
Net assets at end of period$327,446  $293,352  $322,225  $287,445  $278,329  $209,094  $203,949  $166,418  
Ratio of expenses to average net assets⁷20.34 %20.65 %21.29 %20.15 %19.20 %19.48 %17.42 %20.46 %
Ratio of net investment income (loss) to average net assets⁷18.14 %(1.42)%(1.84)%(2.65)%(3.23)%(4.48)%(3.34)%(11.99)%
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Portfolio turnover8
359.37 %58.73 %130.71 %130.41 %116.40 %109.60 %103.50 %5.08 %
Average debt outstanding$364,411  $356,280  $388,525  $279,254  $193,747  $151,502  $128,680  $108,483  
Average debt outstanding per share$17.43  $18.62  $18.92  $14.76  $10.50  $10.36  $8.87  $10.63  
Asset coverage ratio⁵184 %178 %173 %185 %229 %222 %249 %223 %
Senior securities outstanding$391,321  $375,058  $439,550  $337,501  $221,007  $176,019  $134,816  $122,543  
(1) Based on actual number of shares outstanding at the end of the corresponding period or the weighted average shares outstanding for the period, unless otherwise noted, as appropriate.
(2) Assumes dividends are reinvested.
(3) Total return based on average net asset value was calculated using the sum of ending net asset value plus dividends to stockholders during the period, divided by the beginning net asset value.
(4) Includes the impact of the different share amounts as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on shares outstanding as of a period end or transaction date.
(5) Calculated based on the amount of senior securities outstanding at period end.
(6) Not annualized.
(7) Annualized for the six months ended June 30, 2020.
(8) Includes PPP loan activity beginning in the second quarter of 2020. Exclusive of PPP loan originations and sales, portfolio turnover for the six months ended June 30, 2020 was 19.52%
(9) The Company converted to a BDC on November 12, 2014 and therefore a partial period is shown through December 31, 2014.

NOTE 10—STOCK BASED COMPENSATION:

Stock Plan

The Company accounts for its stock-based compensation plan using the fair value method, as prescribed by ASC 718, Compensation—Stock Compensation. Accordingly, for restricted stock awards, the Company measured the grant date fair value based upon the market price of its common stock on the date of the grant and amortizes the fair value of the awards as stock-based compensation expense over the requisite service period, which is generally the vesting term.
        
The Board approves the issuance of shares of restricted stock to employees and directors pursuant to the Equity Incentive Plan. These shares generally vest over a one to three year period from the grant date. The fair value is expensed over the service period, starting on the grant date. The following table summarizes the restricted stock issuances under the Equity Incentive Plan, net of shares forfeited, if any, and the remaining shares of restricted stock available for issuance as of June 30, 2020.
Restricted Stock authorized under the plan1
1,500,000  
Less net restricted stock (granted)/forfeited during:
Year ended December 31, 2016(120,933) 
Year ended December 31, 2017(5,007) 
Year ended December 31, 2018(93,568) 
Year ended December 31, 2019(6,285) 
Six months ended June 30, 20202,639  
Restricted stock available for issuance as of June 30, 20201,276,846  
(1) A maximum of 20% of total shares of common stock issued and outstanding, calculated on a fully diluted basis, not to exceed 3,000,000 shares, are available for awards of restricted stock and stock options under the Equity Incentive Plan. No more than 50% of the shares of stock reserved for the grant of awards under the Equity Incentive Plan may be restricted stock awards at any time during the term of the Equity Incentive Plan. No stock options have been granted under the Equity Incentive Plan.

As of June 30, 2020, there was $399,000 of total unrecognized compensation expense related to unvested restricted shares. This compensation expense is expected to be recognized over a remaining weighted-average period of approximately 11 months as of June 30, 2020.

For the three months ended June 30, 2020 and 2019 the Company recognized total stock-based compensation expense of $138,000 and $118,000, respectively.
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For the six months ended June 30, 2020 and 2019 the Company recognized total stock-based compensation expense of $310,000 and $278,000, respectively.

NOTE 11—COMMON STOCK:

ATM Program

On August 31, 2018, the Company entered into the 2017 ATM Equity Distribution Agreement which increased the maximum number of shares that the Company may offer and sell under its then-existing ATM distribution agreement up to 4,400,000 shares of common stock from time to time through the ATM placement agents.

The following table summarizes the total shares sold and net proceeds received under the 2017 ATM Equity Distribution Agreement:
Year Ended December 31, 2019Year Ended December 31, 2018
Shares sold187,962  291,232  
Net weighted average price per share$19.46  $19.14  
Net proceeds$3,650  $5,196  

On July 8, 2019, the Company gave notice to terminate the 2017 ATM Equity Distribution Agreement, with such termination effective as of July 9, 2019. As of July 9, 2019, the Company had sold 1,618,375 shares of its common stock under the 2017 ATM Equity Distribution Agreement, and received net proceeds of $28,466,000. The Company paid the ATM placement agents $586,000 in compensation.

On July 10, 2019, the Company entered into the 2019 ATM Equity Distribution Agreement. The 2019 ATM Equity Distribution Agreement provided that the Company may offer and sell up to 3,000,000 shares of common stock from time to time through the placement agents. On February 28, 2020, we amended the 2019 ATM Equity Distribution Agreement to add UBS Securities LLC as a placement agent. The company paid the placement agents $141,000 in compensation during the six months ended June 30, 2020.

The following table summarizes the total shares sold and net proceeds received under the 2019 ATM Equity Distribution Agreement:
Six Months Ended June 30, 2020Year Ended December 31, 2019
Shares sold359,819  1,356,698  
Net weighted average price per share$20.40  $22.27  
Net proceeds$7,342  $30,212  

On June 24, 2020, the Company terminated the 2019 ATM Equity Distribution Agreement. As of June 24, 2020, the Company had sold 1,716,517 shares of its common stock under the Amended 2019 ATM Equity Distribution Agreement, and received net proceeds of $37,554,000. The Company paid the ATM placement agents a total of $758,000 in compensation under the 2019 ATM Equity Distribution Agreement.

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

On June 25, 2020, the Company entered into the 2020 ATM Equity Distribution Agreement. The 2020 ATM Equity Distribution Agreement provides that the Company may offer and sell up to 3,000,000 shares of common stock from time to time through the placement agents. As of June 30, 2020 the Company had not sold any shares under the 2020 ATM Equity Distribution Agreement. As of June 30, 2020, there were 3,000,000 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement.

NOTE 12—EARNINGS PER SHARE:

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The following table summarizes the calculations for the net increase in net assets resulting from operations per common share for the three and six months ended June 30, 2020 and 2019:
Three Months EndedSix Months Ended
June 30, 2020June 30, 2019June 30, 2020June 30, 2019
Net increase in net assets resulting from operations$25,467  $8,678  $18,214  $17,761  
Weighted average shares outstanding20,893  19,113  20,815  19,058  
Net increase in net assets resulting from operations per common share $1.22  $0.45  $0.88  $0.93  

NOTE 13—LEASES:

Under ASC 842, operating lease expense is generally recognized on a straight-line basis over the term of the lease. The Company has entered into operating lease agreements for office space with remaining contractual terms up to 7 years, some of which include renewal options that extend the leases for up to 10 years. These renewal options are not considered in the remaining lease term unless it is reasonably certain the Company will exercise such options. The operating lease agreements do not contain any material residual value guarantees or material restrictive covenants.

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

The following table summarizes supplemental cash flow and other information related to our operating leases:
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Cash paid for amounts included in the measurement of lease liabilities (operating cash flows)$413  $416  $883  $776  
Weighted-average remaining lease term - operating leases6.58 years 7.48 years6.58 years 7.48 years
Weighted-average discount rate - operating leases4.76 %4.76 %4.76 %4.76 %
Total lease costs (included in other general and administrative costs on the consolidated statements of operations)$209  160$415  $379  

The following table represents the maturity of the Company’s operating lease liabilities as of June 30, 2020:
Maturity of Lease Liabilities
2020815  
20211,555  
20221,576  
20231,619  
20241,663  
Thereafter3,670  
Total future minimum lease payments$10,898  
Less: Imputed interest$(1,602) 
Present value of future minimum lease payments$9,296  

NOTE 14—DIVIDENDS AND DISTRIBUTIONS:

The Company’s dividends and distributions are recorded on the declaration date. The following table summarizes the Company’s dividend declarations and distributions during the six months ended June 30, 2020 and 2019.
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Date DeclaredRecord DatePayment DateAmount Per ShareCash DistributionDRIP Shares IssuedDRIP
Shares Value
Six months ended June 30, 2020
February 5, 2020March 18, 2020March 31, 2020$0.44  $8,882  18  $224  
June 12, 2020July 15, 2020July 31, 2020$0.56  $11,450  113  1$235  
Six months ended June 30, 2019
February 15, 2019March 15, 2019March 29, 2019$0.40  $7,355  12  $220  
May 1, 2019June 14, 2019June 28, 2019$0.46  $8,482  12  $260  
(1) Cash distribution and DRIP share issuance were made after the quarter end date of June 30, 2020.

During the six months ended June 30, 2020 and 2019, an additional 6,000 and 5,200 shares valued at $107,000 and $108,000, respectively, were issued related to dividends on unvested restricted stock awards.

NOTE 15—SUPPLEMENTAL FINANCIAL DATA:

Summarized Financial Information of Our Unconsolidated Subsidiaries

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

Newtek Merchant Solutions, LLC

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

The summarized financial information of our unconsolidated subsidiary is as follows:
Balance Sheets - Newtek Merchant Solutions, LLCAs of June 30, 2020As of December 31, 2019
Current assets$31,396  $14,707  
Noncurrent assets16,722  29,709  
Total assets$48,118  $44,416  
Current liabilities8,282  9,487  
Noncurrent liabilities34,129  28,304  
Total liabilities$42,411  $37,791  
Total member’s equity$5,707  $6,625  
Three Months Ended June 30,Six Months Ended June 30,
Statements of Income - Newtek Merchant Solutions, LLC2020201920202019
Revenue$7,945  $9,489  $16,218  $18,788  
Expenses5,368  5,810  11,539  11,577  
Income from operations$2,577  $3,679  $4,679  $7,211  
Interest (expense) income, net(151) (219) (387) (491) 
Income before tax$2,426  $3,460  $4,292  $6,720  

The Company recorded the following related to its investment in NMS:
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Dividend income$1,650  $2,475  $5,400  $5,375  
Unrealized appreciation (depreciation)$—  $5,000  $(6,250) $5,000  
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NOTE 16—SUBSEQUENT EVENTS:

Common Stock

From July 1, 2020 through August 6, 2020 the Company sold 278,491 shares of its common stock at a weighted average price of $17.74 per share under the 2020 ATM Equity Distribution Agreement. Proceeds, net of offering costs and expenses were $4,940,000. As of August 6, 2020, there were 2,721,509 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement.

Dividends

On July 20, 2020, the Company declared a third quarter 2020 cash dividend of $0.58 per share, which is payable on September 30, 2020 to shareholders of record as of September 21, 2020.

On July 31, 2020, the Company paid its second quarter 2020 cash dividend of $0.56 per share. The Company paid $11,685,000 to shareholders of record as of July 15, 2020 and issued 13,185 DRIP shares with a value of $235,000.
Paycheck Protection Program (“PPP”)
On March 27, 2020, Congress passed, and the President of the United States signed into law, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in response to the COVID-19 pandemic. Specifically, the CARES Act included $349 billion to establish the PPP that expanded the existing SBA Section 7(a) loan program until June 30, 2020 to provide 100% federally-backed loans to eligible businesses. Subsequently, on April 3, 2020, the SBA, in conjunction with the U.S. Department of Treasury (the “Treasury”), adopted the PPP interim final rule (the “Regulations”) to implement the PPP and effectuate the expansion of the Section 7(a) loan program. The Regulations establish additional rules and requirements of the PPP, including a simplified application process for prospective PPP lenders and portfolio companies. Lenders currently authorized to extend loans under the Section 7(a) loan program are automatically authorized to approve and extend new PPP loans. On or about April 16, 2020, the SBA notified lenders that the $349 billion earmarked for the PPP was exhausted. Congress approved additional funding for the PPP of approximately $320 billion on April 24, 2020. See “The CARES Act - Paycheck Protection Program.”

On July 4, 2020, the President of the United States signed a bill to re-open the application window for the PPP until August 8, 2020. The SBA had stopped accepting loan applications at midnight on June 30, 2020 prior to the extension.

From July 1, 2020 through August 6, 2020, NSBF funded approximately 1,290 PPP loans totaling $41,588,000 and sold $41,582,000 through PPP loan participations. As of August 6, 2020, NSBF had processed and obtained SBA E-Tran (loan guarantee) numbers for an additional $35,024,000 of PPP loans, which NSBF anticipates funding during the third quarter upon, among other things, borrowers providing final documentation, however, there is no assurance that NSBF will fund 100% of these PPP loans.
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Newtek Business Services Corp. and Subsidiaries
Schedule of Investments In and Advances to Affiliates
Six Months Ended June 30, 2020
Portfolio Company
Type of Investment1
Amount of Realized Gain (Loss)Amount of Unrealized Appreciation (Depreciation)
Amount of Interest or Dividends Credited to Income3
Fair Value at December 31, 2019
Gross Additions4
Gross Reductions5
Fair Value at June 30, 2020
Advanced Cyber Security Systems, LLC
50% Membership Interest2
$—  $—  $—  $—  $—  $—  $—  
Term Loan (3%)2
—  —  —  —  —  —  —  
Automated Merchant Services, Inc.
100% Common Stock2
—  —  —  —  —  —  —  
CDS Business Services, Inc.
100% Common Stock2
—  (750) —  3,000  —  (750) 2,250  
Line of Credit (10%)—  —  317  5,000  1,560  —  6,560  
Newtek Technology Solutions, Inc.
100% Common Stock2
—  500  —  9,000  500  —  9,500  
Line of Credit (10%)—  —  540  10,361  460  —  10,821  
Newtek Insurance Agency, LLC
100% Membership Interest2
—  —  —  2,215  —  —  2,215  
PMTWorks Payroll, LLC
100% Membership Interest2
—  (85) —  —  85  (85) —  
Term Loans (10%-12%)2
—  —  —  —  —  —  —  
Small Business Lending, LLC
100% Membership Interest2
—  (2,802) —  9,650  (2,802) 6,848  
Term Loan (10%)—  —  20  400  —  —  400  
banc-serv Partners, LLC
100% Membership Interest2
—  —  —  —  —  —  —  
International Professional Marketing, Inc. 100% Common Stock—  —  150  4,150  —  —  4,150  
Line of Credit (Prime + 0.5%)6
—  —  5  —  750  —  750  
SIDCO, LLC 100% Membership Interest—  —  500  6,650  —  —  6,650  
Line of Credit (Prime + 0.5%)6
—  —  12  850  —  (475) 375  
Newtek Merchant Solutions, LLC100% Membership Interest—  (6,250) 5,400  121,250  —  (6,250) 115,000  
Titanium Asset Management, LLC
100% Membership Interest2
—  —  —  —  —  —  —  
Term Loan (10%)2
—  (75) —  390  —  (75) 315  
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Portfolio Company
Type of Investment1
Amount of Realized Gain (Loss)Amount of Unrealized Appreciation (Depreciation)
Amount of Interest or Dividends Credited to Income3
Fair Value at December 31, 2019
Gross Additions4
Gross Reductions5
Fair Value at June 30, 2020
Newtek Business Lending, LLC
100% Membership Interest2
—  —  —  22,253  13,150  (700) 34,703  
Newtek Conventional Lending, LLC50% Membership Interest—  (159) 600  16,123  1,500  (159) 17,464  
Mobil Money, LLC100% Membership Interest—  (1,250) —  3,750  —  (1,250) 2,500  
POS on Cloud, LLC
50.1% Membership Interest2
—  —  —  —  —  —  —  
Term Loan (10%)—  —  43  775  75  —  850  
Excel WebSolutions LLC
Term Loans (10%)2
—  —  —  —  —  —  —  
100% Membership Interest2
—  —  —  —  —  —  —  
Total Controlled Investments$—  $(10,871) $7,587  $215,817  $18,080  $(12,546) $221,351  
Non-Control/Affiliate Investments
EMCAP Loan Holdings, LLC6.04% Membership Interest$—  $—  $40  $1,000  $—  $—  $1,000  
Total Affiliate Investments$—  $(10,871) $7,627  $216,817  $18,080  $(12,546) $222,351  

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

(1) The principal amount and ownership detail as shown in the Company’s Consolidated Schedule of Investments.
(2) Represents non-income producing security.
(3) Represents the total amount of interest, fees or dividends credited to income for the period.
(4) Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in unrealized depreciation.
(5) Gross reductions include decreases in the cost basis of investments resulting from principal payments or sales and exchanges of one or more existing securities for one or more new securities. Gross reductions also include net increases in unrealized depreciation or net decreases in unrealized appreciation.
(6) Index based floating rate debt investments bear interest at rate of Prime plus a contractual spread which typically resets monthly. At June 30, 2020, the Prime rate in effect was 3.25%.

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

Forward-Looking Statements

The matters discussed in this report, as well as in future oral and written statements by management of Newtek Business Services Corp., that are forward-looking statements are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Forward-looking statements relate to future events or our future financial performance. We generally identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Important assumptions include our ability to originate new investments, achieve certain margins and levels of profitability, the availability of additional capital, and the ability to maintain certain debt to asset ratios. In light of these and other uncertainties, including the impact of the COVID-19 pandemic, the inclusion of a projection or forward-looking statement in this report should not be regarded as a representation by us that our plans or objectives will be achieved. The forward-looking statements contained in this report include statements as to:
•our future operating results;
•our business prospects and the prospects of our prospective portfolio companies, including our and their ability to achieve our respective objectives as a result of the current COVID-19 pandemic;
•the impact of investments that we expect to make;
•our informal relationships with third parties;
•the dependence of our future success on the general economy and its impact on the industries in which we invest;
•our ability to access debt markets and equity markets;
•our expected financings and investments;
•our regulatory structure and tax status;
•our ability to operate as a BDC and a RIC;
•NSBF’s ability to maintain its license and PLP status under the SBA 7(a) program;
•NSBF’s ability to sell the guaranteed portions of SBA 7(a) loans at premiums;
•the adequacy of our cash resources and working capital;
•the timing of cash flows, if any, from the operations of our portfolio companies;
•the timing, form and amount of any dividend distributions;
•the impact of fluctuations in interest rates on our business including as a result of the decommissioning of LIBOR;
•the valuation of any investments in portfolio companies, particularly those having no liquid trading market; and
•our ability to recover unrealized losses.
•NSBF’s ability to issue SBA 7(a) guaranteed loans;
•NSBF’s ability to participate in the PPP and to continue to issue PPP loans;

The following discussion should be read in conjunction with our condensed consolidated financial statements and related notes and other financial information appearing elsewhere in this report. In addition to historical information, the following discussion and other parts of this report contain forward-looking information that involves risks and uncertainties. Our actual results could differ materially from those anticipated by such forward-looking information due to the factors discussed under Item 1A-“Risk Factors” of Part II of this quarterly report on Form 10-Q, Item 1A-“Risk Factors” of our annual report on Form 10-K filed with the SEC on March 16, 2020 and under “Forward-Looking Statements” of this Item 2.

Executive Overview

We are a leading national non-bank lender and own and control certain portfolio companies under the Newtek® brand (our “controlled portfolio companies,” as defined below) that provide a wide range of business and financial solutions to SMBs. Newtek's and its portfolio companies’ business and financial solutions include: Business Lending, including origination of SBA 7(a), SBA 504, PPP loans and nonconforming (non SBA) conventional loans, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), Technology Consulting, eCommerce, Accounts Receivable and Inventory Financing, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll and Benefits Solutions to SMB accounts nationwide across all industries. We have an established and reliable platform that is not limited by client size, industry type, or location. As a result, we believe we have a strong and diversified client base across every state in the U.S. and across a variety of different industries. In addition, we have developed a financial and technology based business model that enables us and our controlled portfolio companies to acquire and process our SMB clients in a very cost effective manner. This capability is supported in large part by NewTracker®, our patented prospect management
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technology software, which is similar to, but we believe better suited for our needs than, the system popularized by Salesforce.com. We believe that this technology and business model distinguishes us from our competitors.
We consolidate the following wholly-owned subsidiaries:
Newtek Small Business Finance, LLC
Newtek Asset Backed Securities, LLC
CCC Real Estate Holdings, LLC
The Whitestone Group, LLC
Wilshire DC Partners, LLC
Wilshire Holdings I, Inc.
Wilshire Louisiana BIDCO, LLC
Wilshire Louisiana Partners II, LLC
Wilshire Louisiana Partners III, LLC
Wilshire Louisiana Partners IV, LLC
Wilshire New York Advisers II, LLC
Wilshire New York Partners III, LLC
Wilshire Partners, LLC
Exponential Business Development Co., Inc.
Newtek Commercial Lending, Inc.
Newtek LSP Holdco, LLC
Newtek Business Services Holdco 1, Inc.
Newtek Business Services Holdco 2, Inc.
Newtek Business Services Holdco 3, Inc.
Newtek Business Services Holdco 4, Inc.
Newtek Business Services Holdco 5, Inc. (formerly Banc-Serv Acquisition, Inc.)
Newtek Business Services Holdco 6, Inc.

We are an internally-managed, closed-end, non-diversified investment company that has elected to be regulated as a BDC under the 1940 Act. In addition, for U.S. federal income tax purposes, we have elected to be treated as a RIC under the Code beginning with our 2015 tax year. As a BDC and a RIC, we are also subject to certain constraints, including limitations imposed by the 1940 Act and the Code. As a result, previously consolidated subsidiaries are now recorded as investments in controlled portfolio companies, at fair value. NSBF is a consolidated subsidiary and originates loans under the SBA's 7(a) loan program. 

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

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

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

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

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

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

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

On March 27, 2020, Congress passed, and the President of the United States signed into law, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in response to the COVID-19 pandemic. Specifically, the CARES Act included $349 billion to establish the PPP that expanded the existing SBA Section 7(a) loan program until June 30, 2020 to provide 100% federally-backed loans to eligible businesses. Subsequently, on April 3, 2020, the SBA, in conjunction with the U.S. Department of Treasury (the “Treasury”), adopted the PPP interim final rule (the “Regulations”) to implement the PPP and effectuate the expansion of the Section 7(a) loan program. The Regulations establish additional rules and requirements of the PPP, including a simplified application process for prospective PPP lenders and portfolio companies. Lenders currently authorized to extend loans under the Section 7(a) loan program are automatically authorized to approve and extend new PPP loans. On or about April 16, 2020, the SBA notified lenders that the $349 billion earmarked for the PPP was exhausted. Congress approved additional funding for the PPP of approximately $320 billion on April 24, 2020. On July 4, 2020, the President of the United States signed a bill to re-open the application window for the PPP until August 8, 2020. The SBA had stopped accepting loan applications at midnight on June 30, 2020 prior to the extension. See “The CARES Act - Paycheck Protection Program.”

COVID-19 Developments

In March 2020, the outbreak of COVID-19 was recognized as a pandemic by the World Health Organization. Shortly thereafter, the President of the United States declared a National Emergency throughout the United States attributable to such outbreak. The outbreak has become increasingly widespread in the United States, including in the markets in which the Company operates. In accordance with guidance from various state and local governments, many of the Company’s employees continue to work remotely, which has not impacted our ability to maintain operations, including financial reporting systems, internal control over financial reporting and disclosure controls and procedures.

We have and continue to assess the impact of COVID-19 on our portfolio companies. We cannot predict the full impact of the COVID-19 pandemic, including its duration in the United States and worldwide and the magnitude of the economic impact of the outbreak, including with respect to the travel restrictions, business closures and other quarantine measures imposed on service providers and other individuals by various local, state, and federal governmental authorities. As such, we are unable to
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predict the duration of any business and supply-chain disruptions, the extent to which COVID-19 will negatively affect our and our portfolio companies’ operating results or the impact that such disruptions may have on our results of operations and financial condition. Though the magnitude of the impact remains to be seen, we expect our portfolio companies to potentially be negatively impacted. We believe that certain negative impacts to our SBA 7(a) borrowers may be muted, in part due to provisions of the CARES Act providing for six months of principal, interest and fees to be paid by the SBA directly to the Company beginning in April 2020. In addition, due to the COVID-19 pandemic, we have experienced and may continue to experience a decline in SBA 7(a) loan originations and gains on sale from guaranteed portions of SBA 7(a) loans.

We are continuing to assess what additional adverse financial and operational consequences may result from the global spread of COVID-19 and the associated economic turbulence, however, the extent of such consequences remains uncertain as of the filing of this Form 10-Q.

Revenues

We generate revenue in the form of interest, dividend, servicing and other fee income on debt and equity investments. Our debt investments typically have terms of 10 to 25 years and bear interest at prime plus a margin. In some instances, we receive payments on our debt investments based on scheduled amortization of the outstanding balances. In addition, we receive repayments of some of our debt investments prior to their scheduled maturity date. The frequency or volume of these repayments fluctuates significantly from period to period. Our portfolio activity also reflects the proceeds of sales of securities. We receive servicing income related to the guaranteed portions of SBA investments which we originate and sell into the secondary market. These recurring fees are earned daily and recorded when earned. In addition, we may generate revenue in the form of packaging, prepayment, legal and late fees. We record such fees related to loans as other income. Dividends are recorded as dividend income on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income is recorded at the time dividends are declared. Distributions of earnings from portfolio companies are evaluated to determine if the distribution is income, return of capital or realized gain. In addition, under the PPP that began in the second quarter of 2020, the SBA reimburses the Company for originating loans and such SBA reimbursements are included as interest income on PPP loans. Income earned in connection with the PPP should not be viewed as recurring and is subject the continuation of the PPP.

We recognize realized gains or losses on investments based on the difference between the net proceeds from the disposition and the cost basis of the investment without regard to unrealized gains or losses previously recognized. We record current period changes in fair value of investments and assets that are measured at fair value as a component of the net change in unrealized appreciation (depreciation) on investments or servicing assets, as appropriate, in the consolidated statements of operations.

Expenses

Our primary operating expenses are salaries and benefits, interest expense, origination and servicing and other general and administrative costs, such as professional fees, marketing, referral fees, servicing costs and rent. Since we are an internally-managed BDC with no outside adviser or management company, the BDC incurs all the related costs to operate the Company.
Guarantees
The Company is a guarantor on the Sterling Receivable and Inventory Facility at NBC. Maximum borrowings under the Sterling Receivable and Inventory Facility are $35,000,000. The Sterling Receivable and Inventory Facility matures in August 2022 and automatically renews annually. At June 30, 2020, total principal owed by NBC was $22,491,000. In addition, the Company deposited $750,000 to collateralize the guarantee. At June 30, 2020, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the NBL Facility. Maximum borrowings under the NBL Facility are $75,000,000 with an accordion feature to increase maximum borrowings to $150,000,000. The NBL Facility matures in July 2021. At June 30, 2020, total principal owed by NBL was $21,931,000. At June 30, 2020, the Company determined that it is not probable that payments would be required to be made under the guarantee.

The Company is a guarantor on the Webster Facility, a term loan facility between NMS with Webster Bank with an aggregate principal amount up to $50,000,000. The Webster Facility matures in November 2023. At June 30, 2020, total principal outstanding was $38,125,000. At June 30, 2020, the Company determined that it is not probable that payments would be required to be made under the guarantee.

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Unfunded Commitments

At June 30, 2020, the Company had $5,734,000 of unfunded commitments in connection with its SBA 7(a) non-affiliate investments related to portions of loans originated which are partially funded. The Company will fund these commitments from the same sources it uses to fund its other investment commitments.

At June 30, 2020, NCL had $2,942,000 of unfunded commitments in connection with partial funding of certain of its non-conforming conventional commercial and industrial term loan investments. NCL will fund 50% of the total unfunded commitments. NCL will fund these commitments from the same sources it uses to fund its other investment commitments.

Loan Portfolio Asset Quality and Composition
The following tables set forth distributions of the cost basis of the Company’s SBA 7(a) loan portfolio at June 30, 2020 and December 31, 2019, respectively, in thousands. The tables include loans in which NSBF owns 100% as a result of NSBF originating the loan and subsequently repurchasing the guaranteed portion from the SBA. The total of 100% NSBF-owned loans at June 30, 2020 and December 31, 2019 is $15,417,000 and $11,307,000, respectively.
Distribution by Business Type
As of June 30, 2020
Business Type# of Loans BalanceAverage Balance% of Balance
Existing Business1,863  $343,152  $184  81.0 %
Business Acquisition275  58,588  207  13.8 %
Start-Up Business228  21,815  96  5.2 %
Total2,366  $423,556  $179  100.0 %
As of December 31, 2019
Business Type# of LoansBalanceAverage Balance% of Balance
Existing Business1,892  $349,320  $185  81.3 %
Business Acquisition273  58,155  207  13.5 %
Start-Up Business230  22,221  96  5.2 %
Total2,395  $429,696  $179  100.0 %
Distribution by Borrower Credit Score
June 30, 2020
Credit Score# of Loans BalanceAverage Balance% of Balance
500 to 55020  $4,260  $213  1.0 %
551 to 60063  17,545  278  4.1 %
601 to 650340  69,864  205  16.5 %
651 to 700731  123,614  169  29.2 %
701 to 750702  122,216  174  28.9 %
751 to 800439  76,672  175  18.1 %
801 to 85068  9,267  136  2.2 %
Not available3  117  39  — %
Total2,366  $423,556  $179  100.0 %
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December 31, 2019
Credit Score# of LoansBalanceAverage Balance% of Balance
500 to 55020  $4,315  $216  1.0 %
551 to 60066  18,296  277  4.3 %
601 to 650344  69,265  201  16.1 %
651 to 700749  126,797  169  29.5 %
701 to 750709  124,725  176  29.0 %
751 to 800439  77,646  177  18.1 %
801 to 85065  8,528  131  2.0 %
Not available3  124  41  — %
Total2,395  $429,696  $179  100.0 %
Distribution by Primary Collateral Type
June 30, 2020
Collateral Type# of Loans BalanceAverage Balance% of Balance
Commercial Real Estate951  $223,018  $235  52.7 %
Machinery and Equipment413  78,896  191  18.6 %
Residential Real Estate497  39,763  80  9.4 %
Accounts Receivable and Inventory249  37,735  152  8.9 %
Other101  34,332  340  8.1 %
Unsecured112  5,461  49  1.3 %
Furniture and Fixtures28  2,574  92  0.6 %
Liquid Assets15  1,776  118  0.4 %
Total2,366  $423,556  $179  100.0 %
December 31, 2019
Collateral Type# of LoansBalanceAverage Balance% of Balance
Commercial Real Estate962  $225,434  $234  52.5 %
Machinery and Equipment420  82,725  197  19.3 %
Residential Real Estate507  41,713  82  9.7 %
Accounts Receivable and Inventory255  39,380  154  9.2 %
Other105  32,380  308  7.5 %
Unsecured104  4,362  42  1.0 %
Furniture and Fixtures28  2,674  96  0.6 %
Liquid Assets14  1,026  73  0.2 %
Total2,395  $429,696  $179  100.0 %
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Distribution by Days Delinquent
June 30, 2020
Delinquency Status# of Loans BalanceAverage Balance% of Balance
Accrual
     Current2,158  $358,522  $166  84.6 %
     31 to 60 days1  1  1  — %
     61 to 90 days2  1,326  663  0.3 %
     91 days or greater4  2,077  519  0.5 %
Non-accrual201  61,629  307  14.6 %
Total2,366  $423,555  $179  100.0 %
December 31, 2019
Delinquency Status# of LoansBalanceAverage Balance% of Balance
Accrual
     Current2,086  $338,919  $162  78.8 %
     31 to 60 days48  14,459  301  3.4 %
     61 to 90 days—  —  —  — %
     91 days or greater48  17,233  359  4.0 %
Non-accrual213  59,085  277  13.8 %
Total2,395  $429,696  $179  100.0 %

Consolidated Results of Operations

As a BDC and a RIC, we are subject to certain constraints on our operations, including limitations imposed by the 1940 Act and the Code.
Comparison of the three months ended June 30, 2020 and 2019
Investment Income
(in thousands)Three Months Ended June 30, 2020Three Months Ended June 30, 2019Change
Investment income:
Interest income - PPP loans$34,657  $—  $34,657  
Interest income - SBA 7(a) loans6,669  7,252  (583) 
Dividend income2,288  2,828  (540) 
Servicing income2,777  2,503  274  
Other income303  1,566  (1,263) 
Total investment income$46,694  $14,149  $32,545  
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Interest Income
The Company began earning interest income from PPP loans in the second quarter of 2020 under the CARES Act, which allowed NSBF, as an SBA 7(a) lender, to originate loans under the newly-established PPP. See “The CARES Act - Paycheck Protection Program.” Under the PPP, current SBA 7(a) lenders are automatically approved to extend 100% federally guaranteed PPP loans to certain small businesses. During the three months ended June 30, 2020, NSBF originated $1,110,489,000 of PPP loans resulting in $34,657,000 of fees generated. Pursuant to the PPP, the interest rate on PPP loans is capped at 1.0%. In addition, the SBA will reimburse a lender authorized to make a PPP loan at a rate, based on the balance of the financing outstanding at the time of disbursement of the PPP loan, of: (i) 5% for PPP loans of not more than $350,000; (ii) 3% for loans of more than $350,000 and less than $2,000,000; and (iii) 1% for loans of not less than $2,000,000. Such SBA reimbursements are included in Interest Income - PPP loans. Income earned in connection with the PPP should not be viewed as recurring and is subject the continuation of the PPP.
The decrease in interest income on SBA 7(a) loans was attributable to the decrease in the Prime Rate in effect on our portfolio from 5.50% to 3.25% over the twelve month period. The decrease was partially offset by $451,000 of interest income relating to the full payoff of a loan in non-accrual status as well as an increase in the average outstanding performing portfolio of SBA non-affiliate investments to $372,984,000 from $333,811,000 for the three months ended June 30, 2020 and 2019, respectively. The increase in the average outstanding accrual portfolio resulted from the origination of new SBA non-affiliate investments period over period.
Dividend Income

Dividend income is dependent on portfolio company earnings. Current quarter dividend income may not be indicative of future period dividend income, particularly in light of the COVID-19 pandemic. See “COVID-19 Developments.” Dividend income was earned from the following portfolio companies for the three months ended June 30, 2020 and 2019:
(in thousands)Three Months Ended June 30, 2020Three Months Ended June 30, 2019Change
Newtek Merchant Solutions, LLC (NMS)$1,650  $2,475  $(825) 
International Professional Marketing, Inc.75  —  75  
SIDCO, LLC250  250  —  
Mobil Money, LLC—  75  (75) 
Newtek Commercial Lending, LLC293  —  293  
EMCAP Loan Holdings, LLC20  28  (7) 
Total dividend income$2,288  $2,828  $(540) 
NSBF Servicing Portfolio and Related Servicing Income
The following table represents the NSBF originated servicing portfolio and servicing income earned for the three months ended June 30, 2020 and 2019:
(in thousands):Three Months Ended June 30, 2020Three Months Ended June 30, 2019 Change
Total NSBF originated servicing portfolio1
$1,724,814  $1,624,625  $100,189  
Total servicing income earned$2,777  $2,503  $274  
(1) Of this amount, the total average NSBF originated portfolio earning servicing income was $1,337,918,000 and $1,156,978,000 for the three months ended June 30, 2020 and 2019, respectively.
The increase in servicing income was attributable to the increase in total portfolio investments for which we earn servicing income. The portfolio earning servicing income increased $180,940,000 period over period. The increase was attributable to an increase in SBA 7(a) non-affiliate investments period over period.
Other Income

Other income relates primarily to legal, packaging, prepayment, and late fees earned from SBA 7(a) loans. The decrease was
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related to a decrease in legal, prepayment and packaging fees earned as a result of the lower volume of SBA 7(a) loans originated of $17,350,000 compared to $122,600,000 for the three months ended June 30, 2020 and 2019, respectively.
Expenses:
(in thousands)Three Months Ended June 30, 2020Three Months Ended June 30, 2019Change
Salaries and benefits$3,740  $3,484  $256  
Interest4,604  4,712  (108) 
Depreciation and amortization104  124  (20) 
Professional fees1,207  643  564  
Origination and loan processing2,722  2,128  594  
Origination and loan processing - related party3,095  2,471  624  
Change in fair value of contingent consideration liabilities—  9  (9) 
Other general and administrative costs1,475  1,657  (182) 
Total expenses$16,947  $15,228  $1,719  
Interest Expense
The following is a summary of interest expense by facility for the three months ended June 30, 2020 and 2019:
(in thousands)Three Months Ended June 30, 2020Three Months Ended June 30, 2019Change
Notes payable - Securitization Trusts$1,924  $2,630  $(706) 
Bank notes payable467  618  (151) 
Notes due 2022—  177  (177) 
Notes due 20231,015  1,016  (1) 
Notes due 20241,014  —  1,014  
Notes payable - related parties184  270  (86) 
Other—  1  (1) 
Total interest expense$4,604  $4,712  $(108) 

The decrease in interest expense period over period is primarily related to a decrease in interest rates, which reduced interest expense on Notes payable - Securitization Trusts coupled with a decrease in outstanding principal. The drop in rates also decreased interest expense from Notes payable - related parties despite a higher average outstanding balance during the quarter period over period. The decrease in interest expense from Bank Notes payable was related to a decrease in the average outstanding balance period over period as well as a decrease in the interest rate. During the three months ended June 30, 2020, we recognized $1,014,000 of additional interest expense related to the issuance of $63,250,000 of 2024 Notes, offset by a reduction of interest expense related to our redemption of the 2022 Notes.

Professional Fees

The increase in professional fees was driven by an increase in proxy and special meeting related costs, consulting and legal fees and $113,000 of previously deferred offering costs related to our prior registration statement expensed during the quarter.

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Origination and Loan Processing

The increase in Origination and Loan Processing expenses was attributed to an increase in costs related to servicing the existing portfolio and collateral.

Origination and Loan Processing - Related Party

The increase in origination and loan processing expenses was attributed to an increase in headcount and compensation of SBL employees performing origination and loan processing functions. As a result, costs related to these employees increased Origination and Loan Processing - Related Party expense.

Net Realized Gains and Net Unrealized Appreciation and Depreciation

Net realized gains (losses) from SBA non-affiliate investments for the three months ended June 30, 2020 and 2019 were a net realized loss of $1,214,000 and net realized gain of $12,051,000, respectively. This included realized losses of $2,896,000 and $971,000, respectively.

Net Realized Gains on SBA Non-Affiliate Investments
 Three Months Ended
 June 30, 2020June 30, 2019
# of Debt Investments$ Amount
(in thousands)		# of Debt Investments$ Amount
(in thousands)
SBA non-affiliate investments originated during the quarter7  $17,350  176  $122,600  
SBA guaranteed non-affiliate investments sold during the quarter18  $18,701  170  $95,960  
Realized gains recognized on sale of SBA guaranteed non-affiliate investments—  $1,682  —  $13,022  
Average sale price as a percent of principal balance1
—  107.03 %—  111.52 %
(1) Realized gains greater than 110.00% must be split 50/50 with the SBA in accordance with SBA regulations. The realized gains recognized above reflects amounts net of split with the SBA.

Net Unrealized Appreciation (Depreciation) on Investments
(in thousands)Three Months Ended June 30, 2020Three Months Ended June 30, 2019Change
Net unrealized depreciation on SBA guaranteed non-affiliate investments$(200) $(382) $182  
Net unrealized depreciation on SBA unguaranteed non-affiliate investments(1,633) (4,572) 2,939  
Net unrealized (depreciation) appreciation on controlled investments(82) 4,865  (4,947) 
Change in deferred taxes29  (1,294) 1,323  
Total net unrealized depreciation on investments$(1,886) $(1,383) $(503) 

Net unrealized appreciation (depreciation) on SBA guaranteed non-affiliate investments relates to guaranteed portions of SBA debt investments made which the Company sells into a secondary market. Unrealized appreciation (depreciation) of SBA guaranteed investments represents the fair value adjustment of guaranteed portions of loans which have not yet been sold. Unrealized depreciation represents the reversal of unrealized appreciation when the SBA 7(a) loans are sold.

The net unrealized depreciation on SBA unguaranteed non-affiliate investments was driven primarily by a decrease in the fair value of the portfolio from December 31, 2019. The primary driver of the portfolio’s unrealized depreciation was due to current market conditions and decrease in the prime rate. See “COVID-19 Developments” for additional information.

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Net Unrealized Appreciation (Depreciation) on Controlled Investments

Unrealized appreciation (depreciation) was derived from the following portfolio companies for the three months ended June 30, 2020 and 2019:
(in thousands)Three Months Ended June 30, 2020Three Months Ended June 30, 2019Change
Newtek Merchant Solutions, LLC (NMS)$—  $5,000  $(5,000) 
Mobil Money, LLC(500) —  (500) 
Newtek Technology Solutions, Inc. 500  —  500  
International Professional Marketing, Inc.—  600  (600) 
SIDCO, LLC—  (600) 600  
PMTWorks Payroll, LLC (35) (152) 117  
banc-serv Partners, LLC (BSP)—  (44) 44  
Newtek Conventional Lending, LLC(47) 61  (108) 
Total net unrealized (depreciation) appreciation on controlled investments$(82) $4,865  $(4,947) 


Provision for Deferred Taxes on Unrealized Appreciation of Investments

Certain consolidated subsidiaries of ours are subject to U.S. federal and state income taxes. These taxable subsidiaries are not consolidated with the Company for income tax purposes, but are consolidated for GAAP purposes, and may generate income tax liabilities or assets from temporary differences in the recognition of items for financial reporting and income tax purposes at the subsidiaries. During the three months ended June 30, 2020 and 2019, we recognized a provision for deferred taxes of $29,000 and $1,294,000, respectively, related to the net unrealized appreciation and depreciation of controlled portfolio company investments.

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Comparison of the six months ended June 30, 2020 and 2019
Investment Income
(in thousands)Six Months Ended June 30, 2020Six Months Ended June 30, 2019Change
Investment income:
Interest income - PPP loans$34,657  $—  $34,657  
Interest income - SBA 7(a) loans14,449  14,468  (19) 
Dividend income6,690  6,009  681  
Servicing income5,492  4,931  561  
Other income1,209  2,487  (1,278) 
Total investment income$62,497  $27,895  $34,602  
Interest Income
The Company began earning interest income from PPP loans in the second quarter of 2020 under the CARES Act, which allowed NSBF, as an SBA 7(a) lender, to originate loans under the newly-established PPP. See “The CARES Act - Paycheck Protection Program.” Under the PPP, current SBA 7(a) lenders are automatically approved to extend 100% federally guaranteed PPP loans to certain small businesses. During the six months ended June 30, 2020, NSBF originated $1,110,489,000 of PPP loans resulting in $34,657,000 of fees generated. Pursuant to the PPP, the interest rate on PPP loans is capped at 1.0%. In addition, the SBA will reimburse a lender authorized to make a PPP loan at a rate, based on the balance of the financing outstanding at the time of disbursement of the PPP loan, of: (i) 5% for PPP loans of not more than $350,000; (ii) 3% for loans of more than $350,000 and less than $2,000,000; and (iii) 1% for loans of not less than $2,000,000. Such SBA reimbursements are included in Interest Income - PPP Loans. Income earned in connection with the PPP should not be viewed as recurring and is subject to the continuation of the PPP.
The decrease in interest income from SBA 7(a) loans was attributable to the decrease in the Prime Rate in effect on our portfolio from 5.50% to 3.25% over the twelve month period. The decrease was partially offset by $451,000 of interest income relating to the full payoff of a loan in non-accrual status during the second quarter of 2020, as well as the average outstanding accrual portfolio of SBA non-affiliate investments increasing to $371,012,000 from $326,546,000 for the six months ended June 30, 2020 and 2019, respectively. The increase in the average outstanding accrual portfolio resulted from the origination of new SBA non-affiliate investments period over period.
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Dividend Income

Dividend income is dependent on portfolio company earnings. Current year dividend income may not be indicative of future period dividend income. Dividend income was earned from the following portfolio companies for the six months ended June 30, 2020 and 2019:
(in thousands)Six Months Ended June 30, 2020Six Months Ended June 30, 2019Change
Newtek Merchant Solutions, LLC (NMS)$5,400  $5,375  $25  
International Professional Marketing, Inc.150  —  150  
SIDCO, LLC500  400  100  
Mobil Money, LLC—  175  (175) 
Newtek Conventional Lending, LLC600  —  600  
EMCAP Loan Holdings, LLC40  59  (19) 
Total dividend income$6,690  $6,009  $681  
NSBF Servicing Portfolio and Related Servicing Income
The following table represents the NSBF originated servicing portfolio and servicing income earned for the six months ended June 30, 2020 and 2019:
(in thousands):Six Months Ended June 30, 2020Six Months Ended June 30, 2019 Change
Total NSBF originated servicing portfolio1
$1,724,814  $1,624,625  $100,189  
Total servicing income earned$5,492  $4,931  $561  
(1) Of this amount, the total average NSBF originated portfolio earning servicing income was $1,332,160,000 and $1,134,841,000 for the six months ended June 30, 2020 and 2019, respectively.
The increase in servicing income was attributable to the increase in total portfolio investments for which we earn servicing income. The portfolio earning servicing income increased $197,319,000 period over period. The increase was attributable to an increase in SBA 7(a) non-affiliate investments period over period.

Other Income

Other income relates primarily to legal, packaging, prepayment, and late fees earned from SBA 7(a) loans. The decrease was
related to an decrease in legal, prepayment and packaging fees earned as a result of the lower volume of SBA 7(a) loans originated of $70,192,000 compared to $220,379,000 for the six months ended June 30, 2020 and 2019, respectively
Expenses:
(in thousands)Six Months Ended
June 30, 2020		Six Months Ended
June 30, 2019		Change
Salaries and benefits$7,187  $7,072  $115  
Interest9,788  9,447  341  
Depreciation and amortization219  253  (34) 
Professional fees2,171  1,627  544  
Origination and loan processing4,546  3,781  765  
Origination and loan processing - related party5,733  4,659  1,074  
Change in fair value of contingent consideration liabilities54  55  (1) 
Other general and administrative costs3,333  3,084  249  
Total expenses$33,031  $29,978  $3,053  

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Interest Expense
The following is a summary of interest expense by facility for the six months ended June 30, 2020 and 2019:
(in thousands)Six Months Ended June 30, 2020Six Months Ended June 30, 2019Change
Notes payable - Securitization Trusts$4,721  $5,675  $(954) 
Bank notes payable718  908  (190) 
Notes due 2022—  353  (353) 
Notes due 20232,031  2,031  —  
Notes due 20242,027  —  2,027  
Notes payable - related parties291  474  (183) 
Other—  6  (6) 
Total interest expense$9,788  $9,447  $341  

The increase in interest expense period over period is primarily related to interest from the issuance of $63,250,000 of 2024 Notes. We recognized $2,027,000 interest expense related to the 2024 Notes offset by a reduction of interest expense related to our redemption of the 2022 Notes. This increase was also offset by a decrease from Notes payable - Securitization Trusts as a result of declining interest rates and principal balances year over year. The decreases in interest expense from Bank notes payable and Notes payable - related parties were related to a decrease in the average outstanding balance and interest rates period over period.

Professional Fees

The increase in professional fees was driven by an increase in proxy and special meeting related costs, consulting and legal fees and $113,000 of previously deferred offering costs related to our prior registration statement expensed during the quarter.

Origination and Loan Processing

The increase in Origination and Loan Processing expenses was attributed to an increase in costs related to servicing the existing portfolio and collateral.

Origination and Loan Processing - Related Party

The increase in origination and loan processing expenses was attributed to an increase in headcount and compensation of SBL employees performing origination and loan processing functions. As a result, costs related to these employees increased Origination and Loan Processing - Related Party expense.
Net Realized Gains and Net Unrealized Appreciation and Depreciation

Net realized gains from SBA non-affiliate investments for the six months ended June 30, 2020 and 2019 were $3,299,000 and $21,395,000, respectively, which included realized losses of $3,343,000 and $1,373,000, respectively.

Net Realized Gains on SBA Non-Affiliate Investments
 Six Months Ended
 June 30, 2020June 30, 2019
# of Debt Investments$ Amount
(in thousands)		# of Debt Investments$ Amount
(in thousands)
SBA non-affiliate investments originated87  $70,192  296  $220,379  
SBA guaranteed non-affiliate investments sold85  $56,776  287  $170,062  
Realized gains recognized on sale of SBA guaranteed non-affiliate investments—  $6,642  —  $22,768  
Average sale price as a percent of principal balance1
—  109.64 %—  111.33 %
(1) Realized gains greater than 110.00% must be split 50/50 with the SBA in accordance with SBA regulations. The realized gains recognized above reflects amounts net of split with the SBA.
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Net Unrealized Appreciation (Depreciation) on Investments
(in thousands)Six Months Ended June 30, 2020Six Months Ended June 30, 2019Change
Net unrealized depreciation on SBA guaranteed non-affiliate investments$(383) $(312) $(71) 
Net unrealized depreciation on SBA unguaranteed non-affiliate investments(6,144) (1,943) (4,201) 
Net unrealized (depreciation) appreciation on controlled investments(10,871) 2,918  (13,789) 
Change in deferred taxes2,940  (765) 3,705  
Total net unrealized depreciation on investments$(14,458) $(102) $(14,356) 

Net unrealized appreciation (depreciation) on SBA guaranteed non-affiliate investments relates to guaranteed portions of SBA debt investments made which the Company sells into a secondary market. Unrealized appreciation of SBA guaranteed investments represents the fair value adjustment of guaranteed portions of loans which have not yet been sold. Unrealized depreciation represents the reversal of unrealized appreciation when the SBA 7(a) loans are sold.

Net Unrealized Appreciation (Depreciation) on Controlled Investments

Unrealized appreciation (depreciation) was derived from the following portfolio companies for the six months ended June 30, 2020 and 2019:
(in thousands)Six Months Ended June 30, 2020Six Months Ended June 30, 2019Change
Newtek Merchant Solutions, LLC (NMS)$(6,250) $5,000  $(11,250) 
Newtek Technology Solutions, Inc. (NTS)500  (1,500) 2,000  
CDS Business Services, Inc. (750) —  (750) 
International Professional Marketing, Inc.—  600  (600) 
SIDCO, LLC—  (920) 920  
PMTWorks Payroll, LLC (85) (337) 252  
banc-serv Partners, LLC (BSP)—  (286) 286  
Small Business Lending, LLC (2,802) 300  (3,102) 
Newtek Conventional Lending, LLC(159) 61  (220) 
Titanium Asset Management LLC(75) —  (75) 
Mobil Money, LLC(1,250) —  (1,250) 
Total net unrealized (depreciation) appreciation on controlled investments$(10,871) $2,918  $(13,789) 

Provision for Deferred Taxes on Unrealized Appreciation of Investments

Certain consolidated subsidiaries of ours are subject to U.S. federal and state income taxes. These taxable subsidiaries are not consolidated with the Company for income tax purposes, but are consolidated for GAAP purposes, and may generate income tax liabilities or assets from temporary differences in the recognition of items for financial reporting and income tax purposes at the subsidiaries. During the six months ended June 30, 2020 and 2019, we recognized a provision for deferred taxes of $2,940,000 and $765,000 related to the net unrealized appreciation of controlled portfolio company investments, respectively.

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Liquidity and Capital Resources
Overview

Our liquidity and capital resources are derived from our Capital One Facility, Notes payable - related parties, 2023 Notes, 2024 Notes, securitization transactions and cash flows from operations, including investment sales and repayments, and income earned. Our primary use of funds from operations includes investments in portfolio companies and payments of fees and other operating expenses we incur. We have used, and expect to continue to use, our borrowings and the proceeds from the turnover of our portfolio and from public and private offerings of securities to finance our investment objectives. We may raise additional equity or debt capital through both registered offerings off a shelf registration, including “at-the-market”, or ATM, and private offerings of securities. As of June 30, 2020, our asset coverage was 184% based on $391,321,000 of aggregate principal amount of senior securities outstanding. On July 26, 2018, our shareholders approved the application of the modified asset coverage requirement as set forth in Section 61(a)(2) of the 1940 Act, as amended by the SBCAA. As a result, our minimum required asset coverage ratio decreased from 200% to 150%, effective July 27, 2018.

Public Offerings

ATM Program

The 2017 ATM Equity Distribution Agreement provided that we may offer and sell up to 4,400,000 shares of common stock from time to time through the placement agents. From inception through July 8, 2019, we sold 1,618,375 shares of our common stock at a weighted average price of $18.07 per share. Proceeds, net of offering costs and expenses were $28,466,000. On July 8, 2019, the Company gave notice to terminate the 2017 ATM Equity Distribution Agreement, with such termination effective as of July 9, 2019.

On July 10, 2019, the Company entered into the 2019 ATM Equity Distribution Agreement. The 2019 ATM Equity Distribution Agreement provided that the Company may offer and sell up to 3,000,000 shares of common stock from time to time through the placement agents. From inception through June 24, 2020, we sold 1,716,517 shares of our common stock at a weighted average price of $21.88 per share. Proceeds, net of offering costs and expenses were $37,554,000. On June 24, 2020, the Company terminated the 2019 ATM Equity Distribution Agreement. The Company paid the ATM placement agents $758,000 in compensation.

We used the net proceeds for funding investments in debt and equity securities in accordance with our investment objective and strategies and for general corporate purposes including funding investments, repaying outstanding indebtedness and other general corporate purposes.

On June 25, 2020, the Company entered into the 2020 ATM Equity Distribution Agreement. The 2020 ATM Equity Distribution Agreement provides that the Company may offer and sell up to 3,000,000 shares of common stock from time to time through the placement agents. As of June 30, 2020 the Company had not sold any shares under the 2020 ATM Equity Distribution Agreement. As of June 30, 2020, there were 3,000,000 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement.

Debt Offerings

In July 2019, the Company and the Trustee entered into the Fourth Supplemental Indenture to the Base Indenture between the Company and the Trustee, relating to the Company’s issuance, offer and sale of $55,000,000 aggregate principal amount of 5.75% Notes due 2024. The Company granted an overallotment option of up to $8,250,000 in aggregate principal amount of the 2024 Notes. The sale of the 2024 Notes generated proceeds of approximately $53,186,000, net of underwriter's fees and expenses. In July 2019 the underwriters exercised their option to purchase $8,250,000 in aggregate principal amount of 2024 Notes for an additional $8,003,000 in net proceeds. The 2024 Notes are the Company’s direct unsecured obligations and rank: (i) pari passu with the Company’s other outstanding and future unsecured indebtedness; (ii) senior to any of the Company’s future indebtedness that expressly provides it is subordinated to the 2024 Notes; (iii) effectively subordinated to all the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the Company subsequently grants security), to the extent of the value of the assets securing such indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries.

The 2024 Notes will mature on August 1, 2024 and may be redeemed in whole or in part at the Company’s option at any time or from time to time on or after August 1, 2021, at a redemption price of 100% of the outstanding principal amount thereof plus accrued and unpaid interest payments otherwise payable for the then-current quarterly interest period accrued to but not
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including the date fixed for redemption. The 2024 Notes bear interest at a rate of 5.75% per year payable quarterly on February 1, May 1, August 1, and November 1 of each year, commencing on November 1, 2019, and trade on the Nasdaq Global Market under the trading symbol “NEWTL.” At June 30, 2020, the Company was in compliance with all covenants related to the 2024 Notes.

In February 2018, the Company and the Trustee entered into the Third Supplemental Indenture to the Base Indenture between the Company and the Trustee, relating to the Company’s issuance, offer and sale of $50,000,000 aggregate principal amount of 6.25% Notes due 2023. The Company granted an overallotment option of up to $7,500,000 in aggregate principal amount of the 2023 Notes. The sale of the Notes generated proceeds of approximately $47,901,000, net of underwriter's fees and expenses. In February 2018, the underwriters exercised their option to purchase $7,500,000 in aggregate principal amount of notes for an additional $7,275,000 in net proceeds. The 2023 Notes are the Company’s direct unsecured obligations and rank: (i) pari passu with the Company’s other outstanding and future unsecured indebtedness; (ii) senior to any of the Company’s future indebtedness that expressly provides it is subordinated to the 2023 Notes; (iii) effectively subordinated to all the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the Company subsequently grants security), to the extent of the value of the assets securing such indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries.

The 2023 Notes will mature on March 1, 2023 and may be redeemed in whole or in part at the Company’s option at any time or from time to time on or after March 1, 2020, at a redemption price of 100% of the outstanding principal amount thereof plus accrued and unpaid interest payments otherwise payable for the then-current quarterly interest period accrued to but not including the date fixed for redemption. The 2023 Notes bear interest at a rate of 6.25% per year payable quarterly on March 1, June 1, September 1, and December 1 of each year, commencing on June 1, 2018, and trade on the Nasdaq Global Market under the trading symbol “NEWTI.”

The Base Indenture, as supplemented by the Third Supplemental Indenture, contains certain covenants including covenants requiring the Company to comply with (regardless of whether it is subject to) the asset coverage requirements set forth in Section 18(a)(1)(A) of the 1940 Act as modified by Section 61(a) of the 1940 Act (or any successor provisions), to comply with (regardless of whether it is subject to) the restrictions on dividends, distributions and purchase of capital stock set forth in Section 18(a)(1)(B) of the 1940 Act as modified by Section 61(a) of the 1940 Act and to provide financial information to the holders of the 2023 Notes and the Trustee if the Company should no longer be subject to the reporting requirements under the Exchange Act. These covenants are subject to important limitations and exceptions that are described in the Base Indenture, as supplemented by the Third Supplemental Indenture. The Base Indenture provides for customary events of default and further provides that the Trustee or the holders of 25% in aggregate principal amount of the outstanding 2023 Notes may declare such 2023 Notes immediately due and payable upon the occurrence of any event of default after expiration of any applicable grace period. At June 30, 2020, the Company was in compliance with all covenants related to the 2023 Notes.

In April 2016, the Company and the Trustee, entered into the Second Supplemental Indenture to the Base Indenture between the Company and the Trustee, relating to the Company’s issuance, offer and sale of $35,000,000 aggregate principal amount of 7.0% Notes due 2021. The Company granted an overallotment option of up to $5,250,000 in aggregate principal amount of the 2021 Notes. The sale of the Notes generated proceeds of approximately $33,750,000, net of underwriter's fees and expenses. In May 2016, the underwriters exercised their option to purchase $5,250,000 in aggregate principal amount of notes for an additional $5,066,000 in net proceeds. The 2021 Notes are the Company’s direct unsecured obligations and rank: (i) pari passu with the Company’s other outstanding and future unsecured indebtedness; (ii) senior to any of the Company’s future indebtedness that expressly provides it is subordinated to the 2021 Notes; (iii) effectively subordinated to all the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the Company subsequently grants security), to the extent of the value of the assets securing such indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries.

On March 22, 2018, the Company redeemed all $40,250,000 in aggregate principal amount of the 2021 Notes at 100% of their principal amount ($25 per Note), plus the accrued and unpaid interest thereon from December 31, 2017, through, but excluding, the redemption date.

In September 2015, the Company and the Trustee entered into the Base Indenture and the First Supplemental Indenture relating to the Company's issuance, offer, and sale of $8,324,000, including the underwriter's partial exercise of their over-allotment option, in aggregate principal amount of the 7.5% Notes due 2022. The 2022 Notes are the Company’s direct unsecured obligations and rank: (i) pari passu with the Company’s other outstanding and future unsecured indebtedness; (ii) senior to any of the Company’s future indebtedness that expressly provides it is subordinated to the 2022 Notes; (iii) effectively subordinated to all the Company’s existing and future secured indebtedness (including indebtedness that is initially unsecured to which the
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Company subsequently grants security), to the extent of the value of the assets securing such indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other obligations of any of the Company’s subsidiaries.

On August 29, 2019, the Company redeemed all $8,324,000 in aggregate principal amount of the 2022 Notes on the redemption date of August 29, 2019 at 100% of their principal amount ($25 per Note), plus the accrued and unpaid interest thereon from July 1, 2019, through, but excluding, the redemption date.

Capital One Facilities

In May 2017, NSBF amended its Capital One facility to increase the facility from $50,000,000 to $100,000,000 and reduce the interest rate. The facility was amended again in June 2018 and the portion of the facility collateralized by the government guaranteed portion of SBA 7(a) loans, was reduced to Prime minus 0.75% (previously Prime minus 0.25%). The interest rate on the portion of the facility, collateralized by the non-guaranteed portion of SBA 7(a) loans, was reduced to Prime plus 0.25% (previously Prime plus 0.75%). The facility provides for a 55% advance rate on the non-guaranteed portions of the SBA 7(a) loans NSBF originates, and a 90% advance rate on the guaranteed portions of SBA 7(a) loans NSBF originates. In addition, the amendment extended the date on which the facility will convert to a term loan from May 16, 2017 to May 11, 2020 and extended the maturity date of the facility to May 11, 2022. In June 2019, the facility was increased from $100,000,000 to $150,000,000. On May 7, 2020, NSBF amended its existing line of credit with Capital One to, among other things, extend the maturity date on which the credit facility will convert into a term loan for a period of three years to May 7, 2023, with the term loan maturing on May 7, 2025.

At June 30, 2020, there was $23,640,000 and $0 outstanding under the unguaranteed and guaranteed lines of credit, respectively. At June 30, 2020, we were in full compliance with all applicable loan covenants.

Notes Payable - Related Parties

In June 2015, the Company entered into the Related Party RLOC with certain controlled portfolio companies. Maximum borrowings under the Related Party RLOC were $38,000,000.

In June 2017, the Related Party RLOC was amended to increase maximum borrowings to $50,000,000. The outstanding balance had an interest rate equal to 1 month LIBOR (with a floor of 0.50%) plus 6.0% or at a rate equal to the greater of the Prime Rate or 3.5% plus 5.0%. In November 2018, the Related Party RLOC was amended to reduce the interest rate to the lesser of 1 month LIBOR plus 2.5% or the Prime Rate plus 1.5%.

At June 30, 2020, the Related Party RLOC interest rate was 2.67%. The Related Party RLOC has a maturity date of November 8, 2023. Outstanding borrowings due to NMS at June 30, 2020 were $0.

Securitization Transactions

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

In November 2016, NSBF completed its seventh securitization which resulted in the transfer of $56,073,000 of unguaranteed portions of SBA loans to the 2016-1 Trust.  The 2016-1 Trust in turn issued securitization notes for the par amount of $53,444,000, consisting of $43,632,000 Class A notes and $9,812,000 of Class B notes, against the assets in a private placement. The Class A and Class B notes received an “A” and “BBB+” rating by S&P, respectively, and the final maturity date of the notes is February 2042. The Class A and Class B notes bear interest at a rate of 1 month LIBOR plus 3.0% and 4.25%, respectively.

In December 2017, NSBF completed its eighth securitization which resulted in the transfer of $76,188,000 of unguaranteed portions of SBA loans to the 2017-1 Trust.  The 2017-1 Trust in turn issued securitization notes for the par amount of $75,426,000, consisting of $58,111,000 Class A notes and $17,315,000 of Class B notes, against the assets in a private
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placement. The Class A and Class B notes received an “A” and “BBB-” rating by S&P, respectively, and the final maturity date of the notes is February 2043. The Class A and Class B notes bear interest at a rate of 1 month LIBOR plus 2.0% and 3.0%, respectively.

In October 2018, the 2013-1 Trust was terminated as a result of NSBF purchasing the 2013-1 Trust assets, with the 2013-1 Trust’s noteholders receiving the redemption price. Certain of the 2013-1 Trust’s assets were subsequently transferred to the 2018-1 Trust.

In November 2018, NSBF completed its ninth securitization which resulted in the transfer of $108,551,000 of unguaranteed portions of SBA loans to the 2018-1 Trust. The 2018-1 Trust in turn issued securitization notes for the par amount of $108,551,000, consisting of $82,876,000 Class A notes and $25,675,000 of Class B notes, against the assets in a private placement. The Class A and Class B notes received an “A” and “BBB-” rating by S&P, respectively, and the final maturity date of the notes is February 2044.

In March 2019, the 2010-1 Trust was terminated as a result of NSBF purchasing the 2010-1 Trust assets, with the 2010-1 Trust’s noteholders receiving the redemption price. 

In July 2019, the 2014-1 Trust was terminated as a result of NSBF purchasing the 2014-1 Trust assets, with the 2014-1 Trust’s noteholders receiving the redemption price.

In October 2019, NSBF completed its tenth securitization which resulted in the transfer of $118,920,000 of unguaranteed portions of SBA loans to the 2019-1 Trust, The 2019-1 Trust in turn issued securitization notes for the par amount of $118,920,000, consisting of $93,540,000 of Class A notes and $25,380,000 Class B notes, against the assets in a private placement. The Class A and Class B notes received an “A” and “BBB-” rating by S&P, respectively, and the final maturity date of the notes is December 2044. The Class A and Class B notes bear interest at a rate of LIBOR plus 1.83% across both classes.

PPP Loan Participations

Since April 2020, NSBF has engaged in the origination of PPP loans. As of August 6, 2020, NSBF has funded approximately 9,620 PPP loans totaling $1.15 billion though the PPP program. The PPP was established as part of a stimulus package to certain businesses and individuals affected by the COVID-19 pandemic. Under the PPP, current SBA 7(a) lenders are automatically approved to extend 100% federally guaranteed PPP loans to certain small businesses for amounts up to 2.5 times of those businesses’ average monthly payroll expenses (capped at $10 million). The interest rate on PPP loans is capped at 1.0%, and the loans are forgivable after an 8 up to a 24 week forgiveness period, provided that the borrower uses the loans for eligible purposes (e.g., payroll/benefits (excluding employee compensation above $100,000), mortgage interest, rent and utilities) and maintains its payroll levels. The amount of loan forgiveness will be reduced if the borrower reduces salaries or terminates employees during the forgiveness period.

To facilitate NSBF’s involvement as an authorized lender in the PPP, during the second quarter of 2020, NSBF entered into PPP loan participation agreements where NSBF originates PPP loans and sells 90% participating interests to UBS Bank USA (“UBS”), Stifel Bank (“Stifel”), Morgan Stanley Bank, N.A. (“Morgan Stanley”), and Amalgamated Bank (“Amalgamated”) , collectively, the “Participants.” The participations are sold at par due to the short term maturity of the loans. NSBF and the Participant share proportionally in all interest and principal payments made on the loans. Subsequently, UBS, Stifel and Amalgamated amended their agreements with NSBF to allow the banks purchase up to 100% participation interests in certain of the PPP loans originated by NSBF. In connection with the amendments, UBS, Stifel, and Amalgamated purchased the remaining 10% participation interests in their participation loans, bringing their participation interests to 100% as of June 30, 2020. Morgan Stanley continues to hold 90% participation interests. as of June 30, 2020. During the second quarter of 2020, NSBF sold participations in $1.10 billion of PPP loans. NSBF continues to hold the PPP loan notes and the PPP loan documents in order to service the loans. The servicing liability in connection with the PPP loans was deemed immaterial. PPP loan origination fees are recognized as interest income on sale of PPP loan participations.

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

Cash Flows and Liquidity
As of June 30, 2020, the Company’s unused sources of liquidity consisted of $23,633,000 available through the Capital One facility; $30,335,000 available through notes payable with related parties; and $13,385,000 in unrestricted cash.

Restricted cash of $40,213,000 as of June 30, 2020 is primarily held by NSBF. The majority, or $39,461,000 of restricted cash includes reserves in the event payments are insufficient to cover interest and/or principal with respect to securitizations and loan principal and interest collected which are due to loan participants.

The Company generated and used cash as follows:
(in thousands)Six Months Ended June 30, 2020Six Months Ended June 30, 2019
Net cash provided by (used in) operating activities$70,834  $(26,712) 
Net cash used in investing activities(10) (111) 
Net cash provided by (used in) financing activities(50,433) 25,152  
Net increase (decrease) in cash and restricted cash20,391  (1,671) 
Cash and restricted cash, beginning of period33,207  31,350  
Cash and restricted cash, end of period$53,598  $29,679  
During the six months ended June 30, 2020, operating activities provided cash of $70,834,000, consisting primarily of (i) $1,167,376,000 of proceeds from the sale of SBA 7(a) guaranteed loan investments, (ii) $31,374,000 of principal payments received from SBA non-affiliate investments and (iii) a $51,173,000 decrease in broker receivables which arise from the guaranteed portions of SBA 7(a) loans that were traded in the period but did not settled during the current period end and the cash was not received from the purchasing broker during the current period; the amount varies depending on loan origination volume and timing of sales at quarter end.
These increases were offset by (i) $1,180,680,000 of SBA 7(a) and PPP loan investments funded and (ii) $17,580,000 of investments in controlled portfolio companies, including $1,500,000 investments in NCL and $13,150,000 of investments in NBL.
Net cash used in financing activities was $50,433,000 consisting primarily of (i) $29,706,000 of principal payments related to securitization notes payable, (ii) $8,882,000 of dividend payments, (iii) $6,360,000 of net paydowns under our bank notes payable, and (iv) net paydowns under the Related Party RLOC of $12,163,000.
These uses were offset by $7,310,000 of net proceeds from the sale of common shares under the 2019 ATM Equity Distribution Agreement.
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Contractual Obligations
The following table represents the Company’s obligations and commitments as of June 30, 2020:
(in thousands)Payments due by period
Contractual ObligationsTotal2020 2021 202220232024Thereafter
Bank notes payable $23,640  $—  $—  $23,640  $—  $—  $—  
Securitization notes payable1
276,637  —  —  —  —  —  276,637  
Notes due 20231
57,500  —  —  —  57,500  —  —  
Notes due 20241
63,250  —  —  —  —  63,250  —  
Notes payable - related parties —  —  —  —  —  —  —  
Employment agreements1,140  805  335  —  —  —  —  
Operating leases10,913  822  1,563  1,576  1,619  1,663  3,670  
Totals$433,080  $1,627    $1,898    $25,216  $59,119  $64,913  $280,307  
(1) Amounts represent principal only and are not shown net of unamortized debt issuance costs. See NOTE 7—BORROWINGS.
Critical Accounting Policies and Estimates

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

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

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

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

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

Valuation of Investments

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

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

In addition, for certain debt investments, the Company may base its valuation on quotes provided by an independent third party broker. 

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

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

The Company’s investments are subject to market risk. Market risk is the potential for changes in the value due to market changes. Market risk is directly impacted by the volatility and liquidity in the markets in which the investments are traded.

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

Our Board has the final responsibility for overseeing, reviewing and approving, in good faith, our determination of the fair value for our investment portfolio and our valuation procedures, consistent with 1940 Act requirements. We believe our investment portfolio as of June 30, 2020 and December 31, 2019 approximates fair value as of those dates based on the markets in which we operate and other conditions in existence on those reporting dates.

Income Recognition

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

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

We receive a variety of fees from borrowers in the ordinary course of conducting our business, including packaging fees, legal fees, late fees and prepayment fees. All other income is recorded when earned.

Dividend income is recorded at the time dividends are declared. Distributions of earnings from a portfolio companies are evaluated to determine if the distribution is income, return of capital or realized gain.
Income Taxes

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

The Company’s U.S. federal and state income tax returns prior to fiscal year 2015 are generally closed, and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings.

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

Depending on the level of taxable income earned in a tax year, the Company may choose to retain taxable income in excess of current year dividend distributions and would distribute such taxable income in the next tax year. The Company would then pay a 4% excise tax on such income, as required. To the extent that the Company determines that its estimated current year annual taxable income, determined on a calendar year basis, could exceed estimated current calendar year dividend distributions, the
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Company accrues excise tax, if any, on estimated excess taxable income as taxable income is earned. For the six months ended June 30, 2020 and 2019, no U.S. federal excise taxes were due.

The Company’s Taxable Subsidiaries accrue income taxes payable based on the applicable corporate rates on the net unrealized appreciation generated by the controlled investments held by the Taxable Subsidiaries. Such deferred tax liabilities amounted to $9,465,000 and $12,405,000 at June 30, 2020 and December 31, 2019, respectively, and are recorded as deferred tax liabilities on the consolidated statements of assets and liabilities. The change in deferred tax liabilities is included as a component of net unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

The CARES Act - Paycheck Protection Program

On March 27, 2020, Congress passed, and the President of the United States signed into law, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The CARES Act provides an over $2.0 trillion stimulus package to certain businesses and individuals affected by the COVID-19 pandemic, with subsidies to certain existing SBA 7(a) borrowers in which the SBA will pay all principal, interest, and fees on existing performing SBA 7(a) loans for six months beginning with such borrowers’ April 2020 payments. Among other things, the CARES Act allows NSBF, as an SBA 7(a) lender, to originate loans under the newly-established Paycheck Protection Program (“PPP”) as an expansion of the existing SBA Section 7(a) loan program through June 30, 2020. On July 4, 2020, the President of the United States signed a bill to re-open the application window for the PPP until August 8, 2020. The SBA had stopped accepting loan applications at midnight on June 30, 2020 prior to the extension. The July 4, 2020 bill also corrected what has been described as a technical drafting error, in which the CARES Act and the PPP did not initially create separate authorization levels for the SBA 7(a) program and the PPP, which could have left the SBA 7(a) program temporarily unfunded.

Under the PPP, current SBA 7(a) lenders are automatically approved to extend 100% federally guaranteed PPP loans to certain small businesses for amounts up to 2.5 times of those businesses’ average monthly payroll expenses (capped at $10 million). The interest rate on PPP loans is capped at 1.0%, and the loans are forgivable after an 8 up to a 24 week forgiveness period, provided that the borrower uses the loans for eligible purposes (e.g., payroll/benefits (excluding employee compensation above $100,000), mortgage interest, rent and utilities) and maintains its payroll levels. The amount of loan forgiveness will be reduced if the borrower reduces salaries or terminates employees during the forgiveness period.

As a result of the uncertain economic impact to U.S. small businesses created by the COVID-19 pandemic, the Company’s Executive Committee and Lending Team temporarily shifted the focus of NSBF from originating SBA 7(a) loans to originating PPP loans. As of August 6, 2020, NSBF has funded approximately 9,620 PPP loans totaling $1.15 billion though the PPP program. Pursuant to the PPP, the SBA will reimburse a lender authorized to make a PPP loan at a rate, based on the balance of the financing outstanding at the time of disbursement of the PPP loan, of: (i) 5% for PPP loans of not more than $350,000; (ii) 3% for loans of more than $350,000 and less than $2,000,000; and (iii) 1% for loans of not less than $2,000,000.

To facilitate NSBF’s involvement as an authorized lender in the PPP, during the second quarter of 2020, NSBF entered into PPP loan participation agreements where NSBF originates PPP loans and sells 90% participating interests to UBS Bank USA (“UBS”), Stifel Bank (“Stifel”), Morgan Stanley Bank, N.A. (“Morgan Stanley”), and Amalgamated Bank (“Amalgamated”), collectively the “Participants.” The participations are sold at par due to the short term maturity of the loans. NSBF and the Participant share proportionally in all interest and principal payments made on the loans. Subsequently, UBS, Stifel, and Amalgamated amended their agreements with NSBF to allow the banks purchase up to 100% participation interests in certain of the PPP loans originated by NSBF. In connection with the amendments, UBS, Stifel, and Amalgamated purchased the remaining 10% participation interests in their participation loans, bringing their participation interests to 100% as of June 30, 2020. Morgan Stanley continues to hold 90% participation interests. as of June 30, 2020. During the second quarter of 2020, NSBF sold participations in $1.10 billion of PPP loans. NSBF continues to hold the PPP loan notes and the PPP loan documents in order to service the loans. The servicing liability in connection with the PPP loans was deemed immaterial. PPP loan origination fees are recognized as interest income on sale of PPP loan participations. See “PPP Loan Participations.”

In accordance with the terms of the PPP participation agreements and SBA regulations and guidance, NSBF, as the originating lender, must continue to hold the PPP loan note, the PPP loan documents and service the PPP loan (i.e., retain all servicing rights). Moreover, as the originating lender, NSBF is the party responsible to the SBA with respect to all servicing actions, including requests for advance purchases and loan forgiveness, and will be the party eligible for the guarantee purchase of the PPP loan. NSBF has agreed that it will repurchase from the Participant on demand the Participant’s Percentage of any outstanding principal and interest under the applicable PPP Loan under certain standard representations and warranties, including in the event of a loss due to fraud, gross negligence or willful misconduct on the part of NSBF or any failure to recover under the SBA guarantee as a result of any deficiency in documenting or servicing such PPP Loan by NSBF.



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Recently Adopted Accounting Standards

In February 2016, the FASB issued ASU 2016-02, “Leases,” which amends various aspects of existing accounting guidance for leases, including the recognition of a right of use asset and a lease liability for leases with a duration of greater than one year.
The Company adopted ASC 842 on January 1, 2019 using the modified transition method. As part of the transition to ASC 842, the Company elected the package of practical expedients that allowed it to not reassess: (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. The Company recognized the cumulative effect of applying ASC 842 as an opening balance sheet adjustment at January 1, 2019. The comparative information has not been retrospectively adjusted and continues to be reported under the accounting standards in effect for those periods.The adoption of ASC 842 did not have a material impact on the Company’s accompanying consolidated statements of assets and liabilities, statements of operations or statements of cash flows. Due to the adoption of ASC 842, the Company recognized operating lease right-of-use assets and lease liabilities for its operating leases with lease terms greater than one year.

In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820)”, which is intended to improve fair value and defined benefit disclosure requirements by removing disclosures that are not cost-beneficial, clarifying disclosures' specific requirements, and adding relevant disclosure requirements. The ASU is effective for annual reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. The Company elected to early adopt ASU 2018-13 on December 31, 2019. No significant changes to our fair value disclosures were necessary in the notes to the consolidated financial statements in order to comply with ASU 2018-13.

In May 2020, the SEC adopted amendments to the financial disclosure requirements in Regulation S-X including the significance tests in the “significant subsidiary” definition in Rule 1-02(w), Securities Act Rule 405, and Exchange Act Rule 12b-2 to improve their application and to assist registrants in making more meaningful determinations of whether a subsidiary or an acquired or disposed business is significant. In addition, to address the unique attributes of investment companies and business development companies, the SEC updated the significance tests in Rule 1-02(w), Securities Act Rule 405, and Exchange Act Rule 12b-2 by (i) revising the investment test to compare the registrant’s investments in and advances to the acquired or disposed business to the registrant’s aggregate worldwide market value if available; (ii) revising the income test by adding a revenue component; (iii) expanding the use of pro forma financial information in measuring significance; and (iv) conforming, to the extent applicable, the significance threshold and tests for disposed businesses to those used for acquired businesses. The amendments will be effective January 1, 2021; however, voluntary compliance with the final amendments will be permitted in advance of the effective date. The Company elected to early adopt the amendment as of June 30, 2020. No significant changes to our significant subsidiaries were noted.

New Accounting Standards

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,(“ASU 2020-04”). ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts and transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. ASU 2020-04 is effective upon issuance of ASU 2020-04 for contract modifications on a prospective basis. While the Company is currently assessing the impact of ASU 2020-04, the Company does not expect the adoption to have a material impact on its consolidated financial statements.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 815), (“ASU 2019-12”). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. ASU 2019-12 also improves the consistent application of, and simplifies, GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The standard is effective for all entities for financial statements issued for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of ASU 2019-12 to have a material impact on its consolidated financial statements.

Off Balance Sheet Arrangements
There were no off balance sheet arrangements as of June 30, 2020.

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Recent Developments

Common Stock

On June 25, 2020, we entered into the 2020 ATM Equity Distribution Agreement with the placement agents. From June 25, 2020 through August 6, 2020 the Company sold 278,491 shares of its common stock at a weighted average price of $17.74 per share under the 2020 ATM Equity Distribution Agreement. Proceeds, net of offering costs and expenses were $4,940,000. As of August 6, 2020, there were 2,721,509 shares of common stock available for sale under the 2020 ATM Equity Distribution Agreement.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Uncertainty with respect to the economic effects of the COVID-19 pandemic has introduced significant volatility in the financial markets, and the effect of the volatility could materially impact our market risks, including those listed below.
We consider the principal types of risk in our investing activities to be fluctuations in interest rates and loan portfolio valuations and the availability of the secondary market for our SBA loans. Risk management systems and procedures are designed to identify and analyze our risks, to set appropriate policies and limits and to continually monitor these risks and limits by means of reliable administrative and information systems and other policies and programs.
NSBF primarily lends at an interest rate of prime, which resets on a quarterly basis, plus a fixed margin. The Capital One revolver lines are on a prime plus or minus a fixed factor basis and the securitization notes are at prime or 1 month LIBOR, plus a fixed margin, whichever is less. As a result, the Company believes it has matched its cost of funds to its interest income in its financing activities. However, because of the differential between the amount lent and the smaller amount financed a significant change in market interest rates will have a material effect on our income. In periods of sharply rising interest rates, our cost of funds will increase at a slower rate than the interest income earned on the loans we have originated; this should improve our net investment income, holding all other factors constant. However, a reduction in interest rates will result in the Company experiencing a reduction in investment income; that is, its interest income will decline more quickly than interest expense resulting in a net reduction of benefit to investment income.

NSBF depends on the availability of secondary market purchasers for the guaranteed portions of SBA loans and the premium received on such sales to support its lending operations. Sale prices for guaranteed portions of SBA 7(a) loans could be negatively impacted by market conditions, in particular a higher interest rate environment, which typically lead to higher prepayments during the period, resulting in lower sale prices in the secondary market. A reduction in the price of guaranteed SBA 7(a) loans could negatively impact our business.
We do not have significant exposure to changing interest rates on invested cash (includes cash and cash equivalents and restricted cash) which was approximately $53,598,000 at June 30, 2020. We do not purchase or hold derivative financial instruments for trading purposes. All of our transactions are conducted in U.S. dollars and we do not have any foreign currency or foreign exchange risk. We do not trade commodities or have any commodity price risk.

We believe that we have placed our demand deposits, cash investments and their equivalents with high credit-quality financial institutions. As of June 30, 2020, cash deposits in excess of insured amounts totaled approximately $30,403,000.

ITEM 4. CONTROLS AND PROCEDURES..

As of June 30, 2020 (the end of the period covered by this report), we, including our Chief Executive Officer and Chief Accounting Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) of the 1934 Act). Based on that evaluation, our management, including our Chief Executive Officer and Chief Accounting Officer, concluded that our disclosure controls and procedures were effective and provided reasonable assurance that information required to be disclosed in our periodic SEC filings is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Accounting Officer, as appropriate, to allow timely decisions regarding required disclosure. However, in evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures. There has not been any change in our internal controls over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.

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PART II

ITEM 1. LEGAL PROCEEDINGS.

In the ordinary course of business, the Company and its wholly-owned portfolio companies may from time to time be party to lawsuits and claims. The Company evaluates such matters on a case by case basis and its policy is to contest vigorously any claims it believes are without compelling merit. The Company is not currently involved in any litigation matters that are expected to have a material impact on the Company’s financial condition. For legal proceedings involving controlled portfolio companies, refer to Part I, “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2019.

In May 2020, the Company became aware of the putative class action styled American Video Duplicating, Inc. et al v. Citigroup Inc. et al. (C.D. Cal. 20-cv-03815) (the “Action”), which asserted claims under the California Unfair Business Practices Law in connection with the alleged failure of lenders to pay agent fees under the PPP. While the Action failed to assert any specific allegations of wrongdoing by the Company or NSBF, the Action named “Newtek Business Services, Inc.” [sic] as one of the 4,990 PPP lender defendants in the Action. On June 15, 2020, the Company was dismissed from the Action. The Company is not currently involved in any additional litigation matters that are expected to have a material impact on the Company’s financial condition.

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

ITEM 1A. RISK FACTORS.

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which could materially affect our business, financial condition and/or operating results. The risks described in our Annual Report on Form 10-K are not the only risks we face. Additional risks and uncertainties that are not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results. In addition to the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2019, the following are additional risk factors that we believe are relevant to our business.

Curtailment of the government-guaranteed loan programs could adversely affect our results of operations.

Although the program has been in existence since 1953, there can be no assurance that the federal government will maintain the SBA 7(a) loan program, or that it will continue to guarantee loans at current levels. Furthermore, in an effort to support our communities during the pandemic, we are participating in the PPP under the CARES Act whereby loans to small businesses are made and those loans are subject to the regulatory requirements that would require forbearance of loan payments for a specified time or that would limit our ability to pursue all available remedies in the event of a loan default. If the borrower under the PPP loan fails to qualify for loan forgiveness, we are at the heightened risk of holding these loans at unfavorable interest rates as compared to the loans to customers that we would have otherwise extended credit. If we cannot continue originating and selling government-guaranteed loans, we will generate fewer origination fees and our ability to generate gains on the sale of loans will decrease. From time-to-time, the government agencies that guarantee these loans reach their internal budgeted limits and cease to guarantee loans for a stated time period. In addition, these agencies may change their rules for extending loans. Also, Congress may adopt legislation that would have the effect of discontinuing or changing the SBA’s programs. Non-governmental programs could replace government programs for some borrowers, but the terms might not be equally acceptable. If these changes occur, the volume of loans to SMBs and industrial borrowers of the types that now qualify for government-guaranteed loans could decline, as could the profitability of these loans.

Curtailment of our ability to utilize the SBA 7(a) Loan Program by the Federal government could adversely affect our results of operations.

We are dependent upon the federal government to maintain the SBA 7(a) Program. There can be no assurance that the program will be maintained or that loans will continue to be guaranteed at current levels. From time-to-time the SBA has reached its internal budgeted limits and ceased to guarantee loans for a stated period of time. In addition, the SBA may change its rules regarding loans or Congress may adopt legislation or fail to approve a budget that would have the effect of discontinuing, reducing availability of funds for, or changing loan programs. Non-governmental programs could replace government programs for some borrowers, but the terms might not be equally acceptable. If these changes occur, the volume of loans to small businesses that now qualify for government guaranteed loans could decline, as could the profitability of these loans.
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A governmental failure to fund the SBA could adversely affect NSBF’s SBA 7(a) loan originations and our results of operations.

We are dependent upon the Federal government to maintain the SBA 7(a) Program. NSBF’s lending business could be materially and adversely affected by circumstances or events limiting the availability of funds for this program. In October 2013, Congress failed to approve a budget, which, in turn, eliminated availability of funds for the SBA 7(a) program. At the time, the government shutdown affected SBA 7(a) lenders’ ability to originate SBA 7(a) loans. More recently, the government shut down in January 2018 due to a lapse in appropriations, and the SBA closed all non-disaster related programs and activities, including the SBA 7(a) program. The government could again fail to fund the SBA which would affect NSBF’s ability to originate government guaranteed loans and to sell the government guaranteed portions of those loans in the secondary market. Any failure to fund the SBA could adversely affect NSBF’s SBA 7(a) loan originations and our results of operations.

Moreover, due to what has been described as a technical drafting error, the CARES Act and the PPP did not initially create separate authorization levels for the SBA 7(a) program and the PPP, which could have left the SBA 7(a) program temporarily unfunded. The error was corrected with the July 4, 2020 extension of the PPP through August 8, 2020; however, if the SBA 7(a) program were to become unfunded, NSBF will not be able to originate SBA 7(a) loans until such funding is restored.

We may in the future choose to pay dividends in our own stock, in which case investors may be required to pay tax in excess of the cash they receive.

We may distribute taxable dividends that are payable in part in our stock. In accordance with certain applicable Treasury regulations and published guidance issued by the Internal Revenue Service, a publicly offered RIC may treat a distribution of its own stock as fulfilling the RIC distribution requirements if each shareholder may elect to receive his or her entire distribution in either cash or stock of the RIC, subject to a limitation that the aggregate amount of cash to be distributed to all shareholders must be at least 20% of the aggregate declared distribution. If too many shareholders elect to receive cash, the cash available for distribution must be allocated among the shareholders electing to receive cash (with the balance of the distribution paid in stock). In no event will any shareholder, electing to receive cash, receive less than the lesser of (a) the portion of the distribution such shareholder has elected to receive in cash or (b) an amount equal to his or her entire distribution times the percentage limitation on cash available for distribution. If these and certain other requirements are met, for U.S. federal income tax purposes, the amount of the dividend paid in stock will be equal to the amount of cash that could have been received instead of stock. Taxable shareholders receiving such dividends will be required to include the amount of the dividends as ordinary income (or as long-term capital gain to the extent such distribution is properly reported as a capital gain dividend) to the extent of our current and accumulated earnings and profits for United States federal income tax purposes. As a result, a U.S. shareholder may be required to pay tax with respect to such dividends in excess of any cash received. If a U.S. shareholder sells the stock it receives as a dividend in order to pay this tax, the sales proceeds may be less than the amount included in income with respect to the dividend, depending on the market price of our stock at the time of the sale. Furthermore, with respect to non-U.S. shareholders, we may be required to withhold U.S. tax with respect to such dividends, including in respect of all or a portion of such dividend that is payable in stock. In addition, if a significant number of our shareholders determine to sell shares of our stock in order to pay taxes owed on dividends, it may put downward pressure on the trading price of our stock.
Due to the COVID-19 pandemic or other disruptions in the economy, we may not be able to increase our dividends and may reduce or defer our dividends and choose to incur US federal excise tax in order preserve cash and maintain flexibility.

As a BDC, we are not required to make any distributions to shareholders other than in connection with our election to be taxed as a RIC under subchapter M of the Code. In order to maintain our tax treatment as a RIC, we must distribute to shareholders for each taxable year at least 90% of our investment company taxable income (i.e., net ordinary income plus realized net short-term capital gains in excess of realized net longterm capital losses). If we qualify for taxation as a RIC, we generally will not be subject to corporate-level US federal income tax on our investment company taxable income and net capital gains (i.e., realized net long-term capital gains in excess of realized net short-term capital losses) that we timely distribute to shareholders. We will be subject to a 4% US federal excise tax on undistributed earnings of a RIC unless we distribute each calendar year at least the sum of (i) 98.0% of our ordinary income for the calendar year, (ii) 98.2% of our capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year, and (iii) any ordinary income and net capital gains for preceding years that were not distributed during such years and on which we paid no federal income tax.

Under the Code, we may satisfy certain of our RIC distributions with dividends paid after the end of the current year. In particular, if we pay a distribution in January of the following year that was declared in October, November, or December of the current year and is payable to shareholders of record in the current year, the dividend will be treated for all US federal tax purposes as if it were paid on December 31 of the current year. In addition, under the Code, we may pay dividends, referred to
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as “spillover dividends,” that are paid during the following taxable year that will allow us to maintain our qualification for taxation as a RIC and eliminate our liability for corporate-level U.S. federal income tax. Under these spillover dividend procedures, we may defer distribution of income earned during the current year until December of the following year. For example, we may defer distributions of income earned during 2020 until as late as December 31, 2021. If we choose to pay a spillover dividend, we will incur the 4% U.S. federal excise tax on some or all of the distribution.

Due to the COVID-19 pandemic or other disruptions in the economy, we may take certain actions with respect to the timing and amounts of our distributions in order to preserve cash and maintain flexibility. For example, we may not be able to increase our dividends. In addition, we may reduce our dividends and/or defer our dividends to later in the year or the following taxable year. If we defer our dividends, we may choose to utilize the spillover dividend rules discussed above and incur the 4% U.S. federal excise tax on such amounts. To further preserve cash, we may combine these reductions or deferrals of dividends with one or more distributions that are payable partially in our stock as discussed in "Item 1A. Risk Factors" in our most recent Annual Report on Form 10-K under “We may in the future choose to pay dividends in our own stock, in which case investors may be required to pay tax in excess of the cash they receive.”

Any public health emergency, including the COVID-19 pandemic or any outbreak of other existing or new epidemic diseases, or the threat thereof, and the resulting financial and economic market uncertainty could have a significant adverse impact on us and the fair value of our investments and our portfolio companies.

The extent of the impact of any public health emergency, including the COVID-19 pandemic, on our and our portfolio companies’ operational and financial performance will depend on many factors, including the duration and scope of such public health emergency, the actions taken by governmental authorities to contain its financial and economic impact, the extent of any related travel advisories and restrictions implemented, the impact of such public health emergency on overall supply and demand, goods and services, investor liquidity, consumer confidence and levels of economic activity and the extent of its disruption to important global, regional and local supply chains and economic markets, all of which are highly uncertain and cannot be predicted. In addition, our and our portfolio companies’ operations may be significantly impacted, or even temporarily or permanently halted, as a result of government quarantine measures, voluntary and precautionary restrictions on travel or meetings and other factors related to a public health emergency, including its potential adverse impact on the health of any of our or our portfolio companies’ personnel. This could create widespread business continuity issues for us and our portfolio companies.

These factors may also cause the valuation of our investments to differ materially from the values that we may ultimately realize. Our valuations, and particularly valuations of private investments and private companies, are inherently uncertain, may fluctuate over short periods of time and are often based on estimates, comparisons and qualitative evaluations of private information. As a result, our valuations may not show the completed or continuing impact of the COVID-19 pandemic and the resulting measures taken in response thereto. Any public health emergency, including the COVID-19 pandemic or any outbreak of other existing or new epidemic diseases, or the threat thereof, and the resulting financial and economic market uncertainty could have a significant adverse impact on us and the fair value of our investments and our portfolio companies.

The COVID-19 pandemic has led and for an unknown period of time will continue to lead to disruptions in local, regional, national and global markets and economies affected thereby. With respect to the U.S. credit markets (in particular for middle market loans), this outbreak has resulted in, and until fully resolved is likely to continue to result in, the following among other things: (i) government imposition of various forms of shelter-in-place orders and the closing of “non-essential” businesses, resulting in significant disruption to the businesses of many middle-market loan borrowers including supply chains, demand and practical aspects of their operations, as well as in lay-offs of employees, and, while these effects are hoped to be temporary, some effects could be persistent or even permanent; (ii) increased draws by borrowers on revolving lines of credit; (iii) increased requests by borrowers for amendments and waivers of their credit agreements to avoid default, increased defaults by such borrowers and/or increased difficulty in obtaining refinancing at the maturity dates of their loans; (iv) volatility and disruption of these markets including greater volatility in pricing and spreads and difficulty in valuing loans during periods of increased volatility, and liquidity issues; and (v) rapidly evolving proposals and/or actions by state and federal governments to address problems being experienced by the markets and by businesses and the economy in general which will not necessarily adequately address the problems facing the loan market and middle market businesses.

As of the date of this 10-Q, it is impossible to determine the scope of this outbreak, or any future outbreaks, how long any such outbreak, market disruption or uncertainties may last, the effect any governmental actions will have or the full potential impact on us and our portfolio companies. As the potential impact of COVID-19 is difficult to predict, the extent to which COVID-19 could negatively affect our and our portfolio companies’ operating results or the duration of any potential business or supply-chain disruption, is uncertain. Any potential impact to our results of operations will depend to a large extent on future developments and new information that could emerge regarding the duration and severity of COVID-19 and the actions taken
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by authorities and other entities to contain COVID-19 or treat its impact, all of which are beyond our control. These potential impacts, while uncertain, could adversely affect our and our portfolio companies’ operating results.

If the economy is unable to substantially reopen, and high levels of unemployment continue for an extended period of time, loan delinquencies, loan non-accruals, problem assets, and bankruptcies may increase. In addition, collateral for our loans may decline in value, which could cause loan losses to increase and the net worth and liquidity of loan guarantors could decline, impairing their ability to honor commitments to us. An increase in loan delinquencies and non-accruals or a decrease in loan collateral and guarantor net worth could result in increased costs and reduced income which would have a material adverse effect on our business, financial condition or results of operations.

Economic recessions or downturns could impair our portfolio companies and harm our operating results.
 
Many of our portfolio companies may be susceptible to economic slowdowns or recessions and may be unable to repay our debt investments during these periods. The recent global outbreak of COVID-19 (more commonly known as the Coronavirus) has disrupted economic markets and the prolonged economic impact is uncertain. Some economists and major investment banks have expressed concern that the continued spread of the virus globally could lead to a world-wide economic downturn. Many manufacturers of goods around the world have seen a downturn in production due to the suspension of business and temporary closure of factories in an attempt to curb the spread of the illness. In the past, instability in the global capital markets resulted in disruptions in liquidity in the debt capital markets, significant write-offs in the financial services sector, the re-pricing of credit risk in the broadly syndicated credit market and the failure of major domestic and international financial institutions. In particular, in past periods of instability, the financial services sector was negatively impacted by significant write-offs as the value of the assets held by financial firms declined, impairing their capital positions and abilities to lend and invest. In addition, continued uncertainty surrounding the negotiation of trade deals between Britain and the European Union following the United Kingdom’s exit from the European Union and uncertainty between the United States and other countries with respect to trade policies, treaties, and tariffs, among other factors, have caused disruption in the global markets. There can be no assurance that market conditions will not worsen in the future.
 
In an economic downturn, our non-performing assets may increase, and the value of our portfolio is likely to decrease during these periods. Adverse economic conditions may also decrease the value of any collateral securing our loans. A severe recession may further decrease the value of such collateral and result in losses of value in our portfolio and a decrease in our revenues, net income, assets and net worth. Unfavorable economic conditions also could increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us on terms we deem acceptable. These events could prevent us from increasing investments and harm our operating results.
 
The occurrence of recessionary conditions and/or negative developments in the domestic and international credit markets may significantly affect the markets in which we do business, the value of our investments, and our ongoing operations, costs and profitability. Any such unfavorable economic conditions, including rising interest rates, may also increase our funding costs, limit our access to capital markets or negatively impact our ability to obtain financing, particularly from the debt markets. In addition, any future financial market uncertainty could lead to financial market disruptions and could further impact our ability to obtain financing. These events could limit our investment originations, limit our ability to grow and negatively impact our operating results and financial condition.

Global economic, political and market conditions may adversely affect our business, financial condition and results of operations, including our revenue growth and profitability.
 
The current worldwide financial markets situation, as well as various social and political tensions in the United States and around the world, may contribute to increased market volatility, may negatively impact the secondary market for the sale of guaranteed portions of U.S. Small Business Administration 7(a) loans, may have long term effects on the United States and worldwide financial markets, and may cause economic uncertainties or deterioration in the United States and worldwide. We monitor developments and seek to manage our investments in a manner consistent with achieving our investment objective, but there can be no assurance that we will be successful in doing so.
 
In August 2011 and then affirmed in August 2013, Standard & Poor’s Rating Services lowered its long term sovereign credit rating on the U.S. from “AAA” to “AA+”. Additionally, in January of 2012, Standard & Poor’s Rating Services lowered its long term sovereign credit rating for several large European countries. These ratings negatively impacted global markets and economic conditions. Although U.S. lawmakers have taken steps to avoid further downgrades, U.S. budget deficit concerns and similar conditions in Europe, China and elsewhere have increased the possibility of additional credit rating downgrades and worsening global economic and market conditions. The current political climate has also intensified concerns about a potential trade war between the United States and China in connection with each country’s recent proposed tariffs on the other country’s
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products. There can be no assurance that current or future governmental measures to mitigate these conditions will be effective. These conditions, government actions and future developments may cause interest rates and borrowing costs to rise, which may adversely affect our ability to access debt financing on favorable terms and may increase the interest costs of our borrowers, hampering their ability to repay us. Continued or future adverse economic conditions could have a material adverse effect on our business, financial condition and results of operations.
 
In October 2014, the Federal Reserve announced that it was concluding its bond buying program, or quantitative easing, which was designed to stimulate the economy and expand the Federal Reserve’s holdings of long term securities, suggesting that key economic indicators, such as the unemployment rate, had showed signs of improvement since the inception of the program. The Federal Reserve raised the Federal funds rate throughout the course of 2015 through 2018 and then pivoted in the fourth quarter of 2018 towards easier monetary policy and cut rates several times in 2019. Most recently, in March 2020, in response to the recent global outbreak of COVID-19 (more commonly known as the Coronavirus), the Federal Reserve announced a $700 billion quantitative easing program and further reduced the Federal funds rate to near-zero. This development, along with the United States government’s credit and deficit concerns, concerns about financial stability in Europe and an economic slowdown in China, could cause interest rates to be volatile, which may negatively impact our ability to access the debt and equity markets on favorable terms.

As a participating lender in the SBA Paycheck Protection Program (“PPP”), the Company and NSBF are subject to additional credit risks and risks of litigation from NSBF’s customers or other parties regarding NSBF’s processing of loans for the PPP and risks that the SBA may not fund some or all PPP loan guaranties.

On March 27, 2020, President Trump signed the CARES Act, which included a $349 billion loan program administered through the SBA referred to as the PPP. Under the PPP, small businesses and other entities and individuals can apply for loans from existing SBA lenders and other approved regulated lenders that enroll in the program, subject to numerous limitations and eligibility criteria. On or about April 16, 2020, the SBA notified lenders that the $349 billion earmarked for the PPP was exhausted. Congress approved additional funding for the PPP of approximately $320 billion on April 24, 2020. NSBF is participating as a lender in the PPP. The PPP opened on April 3, 2020; however, because of the short timeframe between the passing of the CARES Act and the opening of the PPP, there has been some ambiguity in the laws, rules and guidance regarding the operation of the PPP, which may expose the Company and NSBF to risks relating to noncompliance with the PPP. As of August 6, 2020, NSBF has funded approximately 9,620 PPP loans totaling $1.15 billion though the PPP program. Since the opening of the PPP, several large banks participating in the PPP have been subject to litigation regarding the process and procedures that such banks have used in processing applications for the PPP. The Company and NSBF may be exposed to the risk of litigation, from both customers and non-customers that approached the Company and NSBF regarding PPP loans, regarding its process and procedures used in processing applications for the PPP. If any such litigation is filed against the Company or NSBF and is not resolved in a manner favorable to the Company or NSBF, it may result in significant financial liability or adversely affect the Company’s or NSBF’s reputation. In addition, litigation can be costly, regardless of outcome. Any financial liability, litigation costs or reputational damage caused by PPP related litigation could have a material adverse impact on our business, financial condition and results of operations. In May 2020, the Company became aware of the putative class action styled American Video Duplicating, Inc. et al v. Citigroup Inc. et al. (C.D. Cal. 20-cv-03815) (the “Action”), which asserts claims under the California Unfair Business Practices Law in connection with the alleged failure of lenders to pay agent fees under the PPP. While the Action failed to assert any specific allegations of wrongdoing by the Company or NSBF, the Action named “Newtek Business Services, Inc.” [sic] as one of the 4,990 PPP lender defendants in the Action. On June 15, 2020, the Company was dismissed from the Action. The Company is not currently involved in any additional litigation matters that are expected to have a material impact on the Company’s financial condition.

NSBF also has credit risk on PPP loans if a determination is made by the SBA that there is a deficiency in the manner in which a PPP loan was originated, funded, or serviced by NSBF, such as an issue with the eligibility of a borrower to receive a PPP loan, which may or may not be related to the ambiguity in the laws, rules and guidance regarding the operation of the PPP. In the event of a loss resulting from a default on a PPP loan and a determination by the SBA that there was a deficiency in the manner in which the PPP loan was originated, funded, or serviced by NSBF, the SBA may deny its liability under the guaranty, reduce the amount of the guaranty, or, if it has already paid under the guaranty, seek recovery of any loss related to the deficiency from the Company.

In addition, in order to facilitate NSBF’s involvement as an authorized lender in the PPP, during the second quarter of 2020, NSBF entered into PPP loan participation agreements where NSBF originates PPP loans and sells participating interests to four banks. See “The Cares Act - Paycheck Protection Program.” In accordance with the terms of the PPP participation agreements and SBA regulations and guidance, NSBF, as the originating lender, must continue to hold the PPP loan note, the PPP loan documents and service the PPP loan (i.e., retain all servicing rights). Moreover, as the originating lender, NSBF is the party responsible to the SBA with respect to all servicing actions, including requests for advance purchases and loan forgiveness, and
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will be the party eligible for the guarantee purchase of the PPP loan. NSBF has agreed that it will repurchase from the Participant on demand the Participant’s Percentage of any outstanding principal and interest under the applicable PPP Loan under certain standard representations and warranties, including in the event of a loss due to fraud, gross negligence or willful misconduct on the part of NSBF or any failure to recover under the SBA guarantee as a result of any deficiency in documenting or servicing such PPP Loan by NSBF.

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

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

None.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS.
NumberDescription
* Filed herewith
** Furnished herewith
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
NEWTEK BUSINESS SERVICES CORP.
Date: August 10, 2020By:
/S/    BARRY SLOANE        
Barry Sloane
Chief Executive Officer, President and Chairman of the Board
(Principal Executive Officer)
Date: August 10, 2020By:
/S/    CHRISTOPHER TOWERS       
Christopher Towers
Chief Accounting Officer
(Principal Financial Officer and Principal Accounting Officer)


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