NEW YORK, Feb. 10, 2015 /PRNewswire/ -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company ("BDC"), today announced that it has been included in the Wells Fargo Business Development Company Index (Symbol: WFBDC), which currently includes 44 business development companies and has a total market capitalization of $131.6(1) billion. Formed in 2011, the Index is a float-adjusted, capitalization-weighted index that is intended to measure the performance of all business development companies that are listed on the New York Stock Exchange or NASDAQ and satisfy specified market capitalization and other eligibility requirements. Currently, two exchange traded notes ("ETNs") are linked to the price and yield performance of the Wells Fargo Business Development Company Index, namely the UBS ETRACS Wells Fargo Business Development Company ETN (NYSEARCA: BDCS), and the UBS ETRACS 2X Leveraged Long Wells Fargo Business Development Company ETN (NYSEARCA: BDCL).
Barry Sloane, President, Chairman, and Chief Executive Officer of Newtek Business Services Corp. commented, "We are extremely pleased to have been included in the Wells Fargo Business Development Company Index. With two well-recognized ETNs linked to this index, we believe Newtek will attract a broader range and number of investors. We look forward to increasing our recognition as an internally managed BDC in the market."
(1) Market capitalization as of February 5, 2015. Source: Well Fargo Securities, LLC.
About Newtek Business Services Corp.
Newtek Business Services Corp., The Small Business Authority®, is an internally managed business development Company ("BDC") that provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business (SMB) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 business accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.
Newtek's products and services include: Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage™, Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll.
The Small Business Authority® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.
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." 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.
For more information, please visit the following websites: www.thesba.com
Contacts:
Newtek Business Services Corp.
Barry Sloane
Chairman and CEO
212-356-9500
bsloane@thesba.com
Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@thesba.com
Public Relations
Contact: Simrita Singh
Telephone: (212) 356-9566 / ssingh@thesba.com
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SOURCE Newtek Business Services Corp.