NEW YORK, Dec. 12, 2014 /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 October 2014 which reached 129.38 points. Approved SBA lending volumes, new entity formation and retail sales led the increase. The SB Authority Index is up 0.16% from September 2014. On a year-over-year comparison, the SB Authority Index is up 5.60%.
Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, "The small business economy continues to climb at a snail's pace, but is doing so with positive momentum and the wind at its back. We look forward to reporting more robust growth in November and December."
About Newtek Business Services Corp. Newtek Business Services Corp., The Small Business Authority®, is the Authority for the small- and medium-sized business (SMB) market providing a wide range of business services and financial products under the Newtek® brand. 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: The Newtek Advantage™, Electronic Payment Processing, The Secure Gateway, Managed Technology Solutions (Cloud Computing), eCommerce, Business Lending, Insurance Services, Web Services, Data Backup, Storage and Retrieval, Accounts Receivable Financing 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" under the Private Securities Litigation Reform Act of 1995. 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.
FROM: Newtek Business Services, Corp. http://www.thesba.com Contact: Simrita Singh Telephone: (212) 356-9566 / email@example.com Investor Relations Contact: Jayne Cavuoto Telephone: (212) 273-8179 / firstname.lastname@example.org Contact: Brett Maas Telephone: (646) 536-7331 / email@example.com
SOURCE Newtek Business Services Corp.