NEW YORK, May 14, 2013 /PRNewswire/ -- Greater Hudson Bank, with locations throughout the Hudson Valley, and over $300 million 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 the marketplace with small business loans that range from $50,000 to $5 million to continue to help the local economy grow and create jobs.
"Greater Hudson Bank is committed to helping small businesses grow and prosper throughout the Hudson Valley," stated Basel Rabie, SVP, Retail Banking Officer. "We are excited to partner with Newtek as we feel this partnership will allow us to provide even more options to assist and support our local business clients, especially during these tough economic times. Our goal is to be the Banking Choice in the area and offer services that our customers need and benefit from," Rabie further stated.
Newtek President and CEO, Barry Sloane said, "We are thrilled to be partnering with Greater Hudson Bank and we are appreciative that Greater Hudson 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 Greater Hudson Bank in marketplaces in which they have a presence."
For more information visit greaterhudsonbank.com or thesba.com.
About Greater Hudson Bank
Greater Hudson Bank, N.A, founded in 2002, is headquartered in Middletown, New York. The Bank has 5 branches which are located in Middletown, Monroe and Warwick, Orange County, New York, Bardonia, Rockland County, New York, and White Plains, Westchester County, New York. The Bank is chartered by the Office of the Comptroller of the Currency and its deposits are insured by the Federal Deposit Insurance Corporation. As evidence of the Banks' financial strength, Greater Hudson Bank has been recognized with a superior rating by the country's leading independent bank rating and research firm, BauerFinancial, Inc. Further information can be found on the Bank's website at http://greaterhudsonbank.com/
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority®, provides the following products and services:
- 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.
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.
Newtek Business Services, Inc.
212 West 35th Street
New York, NY 10001
Director of Marketing
(212) 356-9566, [email protected]
Rubenstein Public Relations
Telephone: (212) 843-9335
Contact: Jonathan Goldberg / [email protected]
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / [email protected]
SOURCE Newtek Business Services, Inc.