Newtek Launches "The Newtek Advantage" Cloud-Based Operating Platform For Small Business

NEW YORK, Oct. 24, 2012 /PRNewswire/ -- Newtek Business Services, Inc., NASDAQ: NEWT, The Small Business Authority®, announced today that it will formally launch its revolutionary, state-of-the-art "Newtek Advantage" cloud-based operating platform for use by small- and medium-sized businesses (SMB). The launch will take place on November 14, 2012 at the NASDAQ MarketSite at 12 pm EST. The event is by invitation only; clients and media are welcome to register by emailing [email protected].

The Newtek Advantage is a mobile real-time SMB management platform, not just a mobile application or "app." It puts all critical transactions of a small-to-medium- sized business, as well as economic, eCommerce and web site traffic data on the business's smartphone, tablet, laptop or PC. Newtek's unique market position, of being a large web hosting company, payment processor, gateway provider, web designer and web services company, enables it to aggregate and drive vital real-time business intelligence information to a business owners' smart phone or tablet. The Newtek Advantage provides the actionable intelligence that businesses and technicians will require and utilize in the future of mobile eCommerce and will give them the advantage to succeed in this new environment. This revolutionary platform will allow owners and operators of small- and medium-sized businesses to manage their businesses from their mobile device anywhere, anytime and without an IT department.

Tobin Smith, founder of NBT Equities Research, an expert in cloud computing equities and editor-in-chief of CloudInvestor.com, will be speaking at the press conference to discuss the importance of cloud computing and the mobile Newtek Advantage platform. This will be the first in a series of business applications that Newtek will be introducing to the market. One can view the features of the mobile application by clicking on this link.

Smith commented, "The mobile data revolution means nothing to a small-business manager unless they can get what they need whenever and wherever they are. What is revolutionary about the new Newtek Advantage is that it is a mobile SMB management platform, not just an app. The Newtek Advantage puts the key management and decision-making data on a smartphone, tablet or laptop in real time. Best of all, this platform function is free to Newtek clients.

The Newtek Advantage is SMART:

• S: Sales Increased – less time dealing with administrative matters means more time selling and servicing customers.
• M: More Control, Less Surprises – key business stats and metrics are available in real time; small businesses can make more informed decisions faster and never be out of touch with the most important business data.
• A: Accelerated Profits – real-time information means better and more profitable decisions.
• R: Real-time information means key business management data is only seconds away, whenever and wherever the business operator is.
• T: Technology Enhancements – leads to decreased cost and expense of an IT department – everything is in the Cloud.

President and CEO, Barry Sloane said, "We believe that mobile applications hosted in the Cloud will continue to proliferate and become the standard for independent business owners. Newtek - "The Small Business Authority"^® is excited to launch its first in a series of cloud-based platforms and applications for independent small businesses across the United States. All of the applications will perform on the Newtek Advantage platform. We have spent years developing this platform internally and have recently filed a patent application with the US Patent office on this revolutionary state-of-the-art business system."

Newtek Business Services processes electronic payments in excess of $4 billion annually. Newtek has over 100,000 domain names registered and currently hosts over 58,000 business sites in its secure, military-strength proof, level-4 data center. Newtek will be launching future applications generated from The Newtek Advantage platform within the next two quarters featuring "Payroll in the Cloud" and "Insurance in the Cloud".

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 through our insurance subsidiary, Newtek Insurance Agency, LLC.
• 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.

SOURCE Newtek Business Services, Inc.