NEW YORK, May 12, 2015 /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 March 2015 which reached 130.35 points. Approved SBA lending volumes, new entity formation and the Russell Microcap Index led the increase. The SB Authority Index is up 0.15% from February 2015. On a year-over-year comparison, the SB Authority Index is up 3.16%.
Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, "We are experiencing an economy that is growing very slowly and is range-bound, trying to break out. The SB Authority Index is telling us that the very sensitive personal consumption aspect of our economy continues to struggle to gain any momentum. Long-term interest rates have ticked up slightly, as have oil and gas prices. We do not see significant near-term rate hikes or further pressure on higher oil and gas prices. However, if that does occur, independent business owners are very sensitive to these two staples of the economy and any further bad news coming from these sectors could start the small business segment on a negative downtrend."
About Newtek Business Services Corp.
Newtek Business Services Corp., The Small Business Authority®, is an internally managed business development company, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business (SMB) market. 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: Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing ,The Secure Gateway, The Newtek Advantage™, Insurance Services, Web Services, Data Backup, Storage and Retrieval, 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." 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 Corp. http://www.thesba.com Contact: Simrita Singh Telephone: (212) 356-9566 / firstname.lastname@example.org Investor Relations Contact: Jayne Cavuoto Telephone: (212) 273-8179 / email@example.com
SOURCE Newtek Business Services Corp.