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Newtek Acquires New Lending Partner

IBERIABANK, with its 184 bank branch offices in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida and $12.5 billion in assets, has agreed to partner with Newtek Business Services, Inc., NASDAQ: NEWT, The Small Business Authority. The goal is to finance independently-owned and operated businesses in these six states with small business loans that range from $50,000 to $5 million to continue to help the U.S. economy grow and create jobs. IBERIABANK, founded in 1887, is the largest bank holding company headquartered in Louisiana and employs more than 2,500 professionals.

Newtek President and CEO, Barry Sloane said, “We are thrilled to be partnering with IBERIABANK and we are appreciative that Iberia recognizes that our specialized small business loan products are a natural fit for their customer base.  Newtek is the largest, non-bank government guaranteed lender in the United States offering a suite of loan products specifically designed for small businesses with loan amounts ranging from $50,000 to $5,000,000 and amortization schedules that extend out as far as 25 years. We look forward to working with IBERIABANK in all of the states in which they have a presence.

Robert Kottler, Executive Vice President and Director of Retail and Small Business, said, “We are excited to work with Newtek Business Services as they integrate some of their specific loan products into our existing robust menu of banking products for the small and medium sized business owners we serve in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida.”

Click here to learn more about Newtek business lending.

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