NEW YORK, Feb. 4, 2013 /PRNewswire/ -- Newtek Business Services, NASDAQ: NEWT, The Small Business Authority, has announced that its subsidiary, Newtek Small Business Finance, Inc., has entered into a 5 year lease at their West Hempstead, NY facility for an additional 11,000 square feet – doubling its office capacity for small business lending.
Barry Sloane, Chairman, President and Chief Executive Officer of Newtek Business Services said, "Due to an expected increase in loan originations and servicing volume for our own account and third parties for years to come, we believe we need additional capacity at our West Hempstead location. We anticipate growing our small business lending operation in excess of 50% in loan volume in 2013 and also anticipate growing our loan servicing platform for our own account and other financial institutions as small business lenders. The company recently had its Standard and Poor's servicing designation maintained as a Select Servicer, which can be seen here.
"We believe there is ample talent and experience in areas of loan origination, loan assembly, underwriting and loan closing in the greater New York/Long Island markets. We will be hiring talented professionals to join our organization in the near future and anticipate adding 30 jobs over the next two years. Qualified individuals can submit their resumes to NYrecruiting@thesba.com."
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority, provides the following products and services:
- Newtek Advantage™: Mobile real-time operating platform for business intelligence. The Newtek Advantage™ puts all critical business transactions in real-time. Access data on your smartphone, tablet, laptop or PC as it relates to eCommerce for credit/ debit transactions, website statistics, payroll, insurance and business loans.
- Electronic Payment Processing: eCommerce, electronic solutions to accept non-cash payments, including credit and debit cards, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs.
- Managed Technology Solutions (Cloud Computing): Full-service web host, which offers eCommerce solutions, shared and dedicated web hosting and related services including domain registration and online shopping cart tools.
- eCommerce: A suite of services that enable small businesses to get up and running on-line quickly and cost effectively, with integrated web design, payment processing and shopping cart services.
- Business Lending: Broad array of lending products including SBA 7(a) and SBA 504 loans.
- Insurance Services: Commercial and personal lines of insurance, including health and employee benefits in all 50 states, working with over 40 insurance carriers.
- Web Services: Customized web design and development services.
- Data Backup, Storage and Retrieval: Fast, secure, off-site data backup, storage and retrieval designed to meet the specific regulatory and compliance needs of any business.
- Accounts Receivable Financing: Receivable purchasing and financing services.
- Payroll: Complete payroll management and processing services.
Newtek Business Services, Inc., The Small Business Authority, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek® brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today's marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the Newtek® brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.
Note Regarding Forward Looking Statements
Statements in this press release including statements regarding Newtek's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov.
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Investor Relations
Telephone: (212) 273-8179
Contact: Jayne Cavuoto / jcavuoto@thesba.com
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SOURCE Newtek Business Services