NewCo Capital Group Reviews - Financial Lender Pros & Cons

sarah-klein writer
By Sarah Klein
Updated September 9, 2020
Editor's Rating
Best for Challenged Credits
Customer Rating 26 Reviews

NewCo Capital Group is a relatively new lender offering merchant cash advances (MCAs) to small businesses with funding amounts ranging from $10,000 to $350,000. Unlike other lenders, NewCo offers stacked loans up to the fourth position. This means that even if a business is already actively paying back three other loans they will be considered for an advance. MCAs are repaid as a percentage of future earnings, so even applicants with poor credit may be eligible for funding. NewCo offers daily and weekly payment options.

Types of loans
Merchant cash advance (MCA)
Loan amounts
$10,000 to $350,000
Terms of payment
4 to 9 months
  • Accepts applicant with less than perfect credit score
  • Large financing amounts
  • Fast and easy application process
  • Small business loan interest rates can be high
  • Additional fees on business loans
  • Only short-term business loans available

Company Profile

NewCo Capital Group offers larger loan amounts, fast approvals, and early renewal options, making this lender a good option for businesses needing short term access to capital. Led by seasoned industry leaders, NewCo gives merchants that may not qualify with other lenders or for bank loans the cash needed to fund business related expenses.

Credit Policy

In order to qualify for an MCA from NewCo Capital Group, businesses must meet some basic criteria. Since MCAs are paid back from future earnings, applicants will have to show monthly revenue exceeding $40,000. In addition to this, applicants must have a minimum FICO of 550, so even merchants with less than stellar credit profiles can get the financing they need. NewCo accesses credit scores with a soft check. NewCo requires a minimum of 4 buisness deposits, and no more than 5 days ending with negative balances in any given month.


This lender offers fairly standard financing options and eligibility criteria but stands out in flexible renewals. If the borrowing business’ revenue increases over the course of the loan and the finances are healthy, they will be able to renew the advance before paying back 50% of the initial amount.

Cautionary Industries

NewCo is inclusive of most industries when it comes to eligibility, but there are types of businesses that are considered too risky. For applicants operating in these sectors, other lenders or banks may be better options for financing.

Businesses in the following industries are excluded from NewCo’s financial services:

Target Market

NewCo Capital Group offers merchant cash advances to businesses in several core industries:

Term Length

The term lengths offered by NewCo Capital Group are very short, similar to most lenders in this vertical. Ranging from just 4-9 months, applicants needing a longer time frame to repay credit may consider an alternative.

What’s Required to Apply

In order to complete the application for a merchant cash advance from NewCo, businesses will need to supply three months of recent bank statements. In addition to bank statements, borrowers must provide current and past month to date results.This lets NewCo verify that the applicant’s monthly revenue meets the minimum threshold and that this financial performance will remain steady or improve over the duration of the repayment term.

The lender will also perform a soft credit pull to check the applicant’s business and personal credit health.

The application will ask for the following information:

Interest Rates

Unlike standard loans, merchant cash advances aren’t repaid as a combination of principal and interest. Instead, interest, so to speak, is charged as a decimal multiplier of the total advance amount. This factor rate determines the total amount borrowers will repay. For an estimate of what a cash advance will cost in total, multiply the amount borrowed by the buy rate. NewCo generally offers buy rates between 1.24 and 1.31.


NewCo’s policy on stacking loans is one of the most flexible in the business. This lender will offer financing up to and beyond the 4th position, so for businesses carrying multiple active loans, NewCo is a good option. Stacked loans can sometimes come with higher buy rates and additional fees, but for businesses anticipating an increase in cash flow it might be worth it to finance now and pay it off after a short period of time.

Documentation Fees

Filing and processing applications is often attached to a fee. At NewCo, this fee varies from deal to deal and is generally contingent on the size of the advance. Estimate that the documentation fees will amount to 2.5% of the loan amount.

Origination Fees

Like other fees, origination fees are calculated as a percentage of the financing amount. When borrowing from NewCo, expect to pay around 2.2475% to cover the cost of issuing a cash advance.

Renewal Policy

Most businesses that have repaid a net 50% amount of the original advance can apply to renew the loan. The lender will evaluate the applicant’s financial health to determine what the terms of the renewed cash advance will be.

Interest Forgiveness

If the merchant decides to pay back the cash advance before the end of the set term, they will be eligible for some form of interest forgiveness. Depending on the specific circumstances, interest forgiveness on early repayment can be between 1 and 10% - not sure I understood this correctly.

Loan Use

Once financing is approved, the only requirement stipulated on the money’s use is that it be for business expenses. Some examples of business-related expenses that merchant cash advances can cover are:

Online Reputation

Since NewCo only launched in April 2020, the company doesn’t yet have an online presence. However, NewCo is led by seasoned industry experts and appears to be a trustworthy lender.

Licenses & Accreditations

NewCo Capital Group holds no current licenses or accreditations.

Company Contacts Details

Phone: 212-999-4500


19 User Reviews

Botir Badriyev. Planetary movers inc

Mar 4, 2021 6:35 AM

Smells like a really good company. They solved my problem in 1 hour, besides that, they did everything they promised. Many lenders say it is ok, but when they send documents, it turns out differently. I didn't have a big hitch, but after a small discussion with Sarah, they called me and decided everything in a matter of seconds. I hope that our cooperation will be long and I will recommend them to all my friends.


Doyle McClure

Mar 30, 2021 2:54 AM

Excellent lender with the most accommodating and flexible terms. They offer merchant cash advance at reasonable rates. The best thing is they let you stack up to four loans, which says a lot about how helpful and supportive these guys are towards businesses. I run a small barbecue joint in Boston and needed a business loan to carry out some routine operations. NewCo Capital offered their merchant cash advance. With the instant cash flow in the company’s finances, my restaurant’s financial condition got better. I am currently halfway through the business capital deal and so far, I’m completely satisfied!


Reid Cummerata

Apr 1, 2021 3:05 AM

The whole process was smooth because Sarah, my loan manager, took care of the application process and the documentation. I got the business loan in just 48 hours after I submitted the application. I was not expecting such fast results. I thought it would take some 5 working days at least but when Sarah called to inform me that the business loan had been credited to my account, I was over the moon. My dental office benefited a lot from NewCo Capital’s working capital loan and I am looking forward to a long cooperation with these guys!


Haleigh Halvorson

Apr 21, 2021 3:05 AM

Sarah handled my case too and as much as I want to acknowledge that she was indeed a great representative, I am disappointed by their blatant refusal to offer me their services! They refused to offer me a business loan saying they did not provide services to my line of business. I have a small financial services company in uptown Austin. It would have been all right if they had said that in the beginning instead of wasting my time. Also, I must add I have a good credit history and a much reliable revenue and still they were not willing to lend me money.


Reid Cummerata

Apr 24, 2021 3:07 AM

I understand where you are coming from, it is indeed disappointing. But you should have checked before applying because they clearly state the cautionary industries and financial services is among the list. If you had checked earlier, it would have saved you a lot of time and disappointment.


Haleigh Halvorson

Apr 29, 2021 3:08 AM

Yeah, it’s my fault too, I should have researched thoroughly first but they could have told me that beforehand too instead of telling me that after the completion of the entire application process.


Retta Eichmann

May 3, 2021 3:09 AM

Great people working in this bank who offer business loans at rather cheaper rates compared to other lenders. Got 50k from Newco Capital for my retail company. Needed to make urgent payment for an order. Business is great so, I am paying them back with quite ease. Only 2 months left on the repayment. It has been a great experience with this company!


Dana Lowe

May 4, 2021 3:10 AM

Everything was great, from application process to the final buy rate of the business loan. I was totally satisfied but they failed to mention the origination fee clearly. I felt somewhat mislead when the final deal came to me and I found out what I owed them. If only they had clearly mentioned the origination fee at first, as they did with the documentation fee, then it would have been perfect! But overall, it was a good experience!


Anastasia Feeney

Jul 14, 2021 3:11 AM

Pathetic service! I am very frustrated and beyond disappointed with this lender! They clearly state that they allow stacking, as much as four loans and when I applied for a second business line of credit on top of the one I was already undergoing, they just refused saying they could not accommodate another business loan for my company. If they had to refuse, why do boast about such an offer? Very misleading!


Constance McLaughlin

Jul 16, 2021 3:11 AM

I am surprised after reading your review because with me, they let me stack up three loans on top of one another and the stack up business loan deals were just as smooth as the first business loan. There must be some reason they refused to let you stack another loan? If you don’t mind, may I ask what business do you run and then what reason they offered for their refusal?


Anastasia Feeney

Jul 22, 2021 3:12 AM

They just said they would not “accommodate” another loan. I am currently dealing with a much better lender and I have two business loan deals going on with it and they have certainly “accommodated” me and allowed me to add another deal on top of the other. Newco Capital clearly states that they allow such deals and still when the time of need comes, they refuse!


Constance McLaughlin

Jul 23, 2021 3:13 AM

All right! So, you are currently under a lot debt, to put it mildly. I wonder why you still want to pile that up with another deal? Why not complete the deals you are already undergoing and then apply for another. I must add I am not surprised anymore that NewCo refused the stack up another deal. Any lender would have reservations regarding such a deal when the borrower is already going through multiple business loan agreements – one with them and two or more with other lenders. That is risky business for them and for you too. I am wondering how come they still agreed to extend a business loan deal when you already had stacked up deals with another bank.. Anyway, I would suggest you complete the current deals and not burden yourself with more doubt.


Anastasia Feeney

Jul 25, 2021 3:13 AM

Are you a representative of the lender? You surely seem like one! And don’t worry, I won’t be stacking up any deal from these people for sure! I am waiting for the completion of this deal, so that I can say goodbye to these liars!


Constance McLaughlin

Jul 26, 2021 3:14 AM

I am not a professional representative of the company, yes but just a client, just like yourself but I do represent them in that capacity because I have had a great experience with NewCo and I was shocked to hear such a harsh review about them and I felt obliged to get a clear picture so that no one gets mislead just by a review.


Anastasia Feeney

Jul 28, 2021 3:14 AM

Don’t worry about that! I am done with these people anyway. You don’t have to fulfil any obligation anymore. Good bye!


Charley Conn

Aug 18, 2021 3:15 AM

The service was quick and the rates was very very reasonable! They need to be more responsive, that’s all! Other than that, great business loan provider!


Kaelyn Ullrich

Aug 27, 2021 3:16 AM

Awesome service!


Stephon SchimmelII

Sep 15, 2021 3:16 AM

The origination and documentation fee can cause frustration in the beginning. I wish they had none or at least just one of these fees. But I must say they make the application process and documentation very easy and smooth which compensates for the fees. Other than that, great service! Excellent and cheap rates!


Helena Watsica

Sep 19, 2021 3:17 AM

Sarah was always quick to help! Made the entire business loan deal smooth and straightforward!