Newtek has attracted and retained the talents of two senior executives, Susan Streich and Harold Gartner. Susan Streich will be joining Newtek Business Services, Inc. and Newtek Small Business Finance, Inc., our nationally licensed SBA 7(a) lender, as Chief Risk Officer and Chief Compliance Officer. Ms. Streich has over 30 years of experience as an executive-level [...]
Starting a business at any age is daunting, but choosing to do so after age 50 offers its own challenges and opportunities. The risk factor (in terms of time, money and effort) is as high as it is for an entrepreneur at any age. On the other hand, you have a depth of experience and [...]
Newtek, The Small Business Authority®, Releases the December 2013 SB Authority Index Newtek announced today the release of the SB Authority Index of small business indicators for December 2013 reaching 124.46 points. The Russell Microcap Index, Newtek Merchant Processing, and approved SBA lending volumes led the increase. The SB Authority Index is up 0.80% from November [...]
EMV Smart Card Technology, Cyber Security, Small Business Lending and Healthcare Reform All Discussed in 2014 Edition Newtek Business Services, NASDAQ: NEWT, The Small Business Authority®, just announced the debut of Newtek, The Small Business Authority Online Magazine for 2013-2014. The magazine serves as a comprehensive look at the many issues small businesses will face [...]
When starting a small business, or taking one to the next level of development, one thing that just about every entrepreneur needs is capital. Money is the thing that takes great ideas and cunning plans into a successful reality – and it’s always the one thing that small businesses can never seem to get enough [...]
Newtek today announced that its subsidiary SBA-licensed 7(a) non-bank lender, Newtek Small Business Finance, Inc. ("NSBF"), has entered into a letter of commitment for a new revolving financing facility, totaling $75 million, with Goldman Sachs Bank USA. This revolving facility has a four-year term and will enable the Company to continue to grow its SBA [...]
Newtek Business Services, Inc. Reports 67% Increase In Second Quarter 2013 Diluted EPS To $0.05 Second Quarter 2013 Total Operating Revenues Up 14.5% to $37 Million Company Reaffirms 2013 Guidance; Expects 20% Growth in Diluted Earnings Per Share in 2013 Newtek Business Services, today reported its financial results for the quarter ended June 30, 2013. Second [...]
"Seeking Alpha" contributor S. Michael Mandala featured Newtek Business Services (NEWT) in yesterday's article, Newtek Business Services Growing Market Share Will Push This Stock To New Heights. Mandala suggests the company stock is appealing as, "Growing revenues and an attractive valuation should result in shares climbing 50% by the end of the year in spite of [...]
Newtek Business Services, Inc. (NASDAQ: NEWT) (www.newtekone.com) The Small Business Authority®, today announced that its subsidiary, Newtek Small Business Finance Inc. (NSBF), received an extension on the availability of its warehouse lines, totaling $27 million, with Capital One, N.A. from September 30, 2013 to May 31, 2015. These revolving facilities enable the Company to finance both the government-guaranteed and non-guaranteed portions [...]
On Monday, Newtek announced it has has agreed to sub-service a $56.4 million portfolio of SBA 7(a) loans for Valley National Bank. The servicing is expected to transfer during the third quarter of 2013. Newtek originates all of its SBA 7(a) loan business through its licensed non-bank lender, Newtek Small Business Finance, Inc. Valley National Bank, with 210 [...]
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