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The Small Business Authority Releases The July 2012 SB Authority Index

The SB Authority Index Shows Growth in the Small Business Segment

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NEW YORK, Aug. 23, 2012 /PRNewswire/ -- Newtek Business Services, Inc., NASDAQ: NEWT, The Small Business Authority, announced the release of the SB Authority Index of small business indicators for July 2012 reached 112.89 points.  The SB Authority index is up .41% from June 2012. The increase was led by new business formations, Newtek proprietary's merchant processing volume and approved SBA gross lending volume.

President and CEO of The Small Business Authority, Barry Sloane said, "For the first six months of this year, our index has portrayed anemic and slow growth as the index repeatedly measured the small business economy at a snapshot in time." 

"It is our opinion, based on discussions with business owners, that if the anticipated effects of mandatory Federal spending reductions kick in and the Bush tax cuts expire at the end of 2012, the near term economic outlook for small business as well as the next calendar year looks quite gloomy.  Our business clientele already anticipate these events and we believe that their preparations for these changes will further reduce growth and economic activity in the second half of 2012 and beyond.  It is also our opinion, based upon the slow growth trend of the indices' components and our discussions with business owners that reduced Federal, State, and Local government spending, higher expected tax rates and government mandated health insurance in the form of an additional tax on small businesses are some of the specific concerns that they have regarding their cash flow and business prospects.  Stay tuned for our monthly announcements."

About Newtek Business Services, Inc.

Newtek Business Services, The Small Business Authority, provides the following products and services:

  • 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 through our lending subsidiary, Newtek Small Business Finance, Inc.    
  • 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. 

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 Newtek ® brand. Since 1999, Newtek 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. Newtek provides its services to over 100,000 business accounts and has positioned the Newtek ® 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.

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, Inc.


212 West 35th Street


New York, NY 10001


http://www.thesba.com




Simrita Singh


VP, Marketing, Communications & Advertising


(212) 356-9566, ssingh@thesba.com




Rubenstein Public Relations


Telephone: (212) 843-9335


Contact: Jonathan Goldberg / jgoldberg@rubensteinpr.com

SOURCE Newtek Business Services, Inc.



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http://thesba.com

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