Blog & Company News
Jun 3, 2014
Modest Growth Trend Continues In Small Business Economy
NewtekOne, The Small Business Authority®, Releases April 2014 SB Authority Index
The SB Authority Index of small business indicators for April 2014 is in at 126.91 points. The Russell Microcap Index shows that approved SBA lending volumes and new business formation have led the increase. The SB Authority Index is up 0.46% from March 2014 and on a year-over-year comparison, the SB Authority Index is up 7.48%.
Barry Sloane, Chairman, President and CEO of The Small Business Authority®
commented, "We have continued to observe weak economic numbers across the small business economy. The recently released U.S. GDP showing a 1% decline in the first fiscal quarter is consistent with the negative sentiment that we see among business owners. The Federal Reserve's "zero rate interest policy" is inflating certain indicators like the Russell Microcap Index and bank lending growth, however, these economic indicators, without real innovation and confidence in the economy, will not provide ongoing stimulus. We believe the Federal Reserve will continue its easy monetary policy and hope things become more positive for small business owners and the economy at large."
About Newtek Business Services, Inc.
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 NewtekOne brand including:
- The 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.
Since 1999, NewtekOne 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. NewtekOne provides its services to over 100,000 business accounts and has positioned the NewtekOne 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.
The Small Business Authority®
is a registered trade mark of Newtek Business Services, Inc., and neither are a part of or endorsed by the U.S. Small Business Administration.