Newtek Business Services announced the release of the SB Authority Index of small business indicators for May 2013 reaching 118.75 points. Newtek merchant processing volume, approved SBA gross lending volume and the Russell Microcap Index led the increase. The SB Authority index is up .57% from April 2013.
President and CEO, Barry Sloane said, “We continue to see our economy driven by the tremendous excess liquidity being created by the Federal Reserve’s QE3 bond buying program. The excess liquidity is flowing into investments like the stock market, retail sales, and other consumer purchases. Most of the demand being created in the economy is flowing into these sectors. This is clearly affecting the small business economy, albeit at a slow, gradual pace.”