NEW YORK, July 16, 2015 /PRNewswire/ -- Newtek Business Services Corp., (NASDAQ: NEWT), The Small Business Authority®, announced today the release of the SB Authority Index of small business indicators for May 2015 which reached 130.41 points. The Russell Microcap Index, the ADP employment report and approved SBA lending volumes led the increase. The SB Authority Index is up 0.01% from April 2015. On a year-over-year comparison, the SB Authority Index is up 2.35%.
Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, "Beginning in 2009 when the economy bottomed, the biggest driver of economic growth for small business was lower interest rates produced by U.S. monetary policy, which drove robust recovery in equity prices and consumer spending. We are experiencing a trend where SB Authority Index increases are low to almost invisible; the May 2015 SB Authority Index increase is the lowest we've experienced in over 3 years. It appears that for small businesses, the benefit of a stock price boom and retail spending may be coming to an end."
About Newtek Business Services Corp.
Newtek Business Services Corp., The Small Business Authority®, is an internally managed business development company, which along with its controlled portfolio companies, 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.
Newtek Business Services Corp.
http://www.thesba.com
Contact: Simrita Singh
Telephone: (212) 356-9566 / ssingh@thesba.com
Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@thesba.com
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SOURCE Newtek Business Services Corp.