Insurance, including health and employee benefits in all 50 states, working with over 40 insurance carriers. HYPERLINK "" Insurance Services : Commercial and personal lines of HYPERLINK "" Business Lending : Broad array of lending products On-line quickly and cost effectively, with integrated web design, payment processing and shopping cart services. HYPERLINK "" eCommerce : a suite of services that enable small businesses to get up and running
#Newtek sba registration#
Web hosting and related services including domain registration and online shopping cart tools. HYPERLINK "" Web Hosting : Full-service web host which offers eCommerce solutions, shared and dedicated 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. HYPERLINK "" Electronic Payment Processing : eCommerce, electronic Newteks business service lines include : States, which in total represent 99.7% of all employer firms. Small Business Administration, there are over 29.6 million small businesses in the United Its services to over 100,000 business accounts and has positioned the Newtek brand as a one-stop-shop provider of such business services. 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 Business Services, Inc., HYPERLINK "" 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 TM brand. Position ourselves as The Small Business Authority. We believe this facility will enable us to take greaterĪdvantage of our state-of-the-art lending platform for government guaranteed SBA Loans and allow us to continue to be one of the nation's largest non-bank small business, government guaranteed lenders and help us to continue to With our investor guidance, could enable us to originate approximately $100 million of loans, up from the $65 - $70 million projected for 2010. In 2011, the combination of the new Capital One financing, and other plans which we have under way and have disclosed in connection This business both to maximize its profit potential and to provide needed relief to credit-starved small businesses. This credit facility, often referred to as a "wet-funding"Ĭredit line, initially at $6 million but expandable up to $12 million, enables the Company to take better advantage of the pent-up demand for loans by credit-worthy small businesses nationwide.īarry Sloane, Chairman, President and Chief Executive Officer of Newtek, remarked that, "This revolving loan dramatically improves the Company's ability to make more loans to more borrowers and will enable us to grow and scale Newtek's subsidiary, Newtek Small Business Finance, Inc., is active in making SBA 7(a) loans, one of the very few non-bank lenders currently making small business loans. The Company plans to begin immediately to draw on this credit facility to expand its SBA loan originations. Is in addition to the current term loan that Capital One, N.A. The credit facility will be used to fund those portions of SBA loans made that are guaranteed by the SBA, with funds received on the sale by the Company of those portions reducing the credit facility. reflecting a summary of proposed terms of a warehouse line of credit to be used to fund additional Small BusinessĪdministration ("SBA") 7(a) loans. The Company previously announced that it has entered into an agreement with Capital One, N.A. (Nasdaq:NEWT), The Small Business Authority, announced that it has entered into a new credit facility NEW YORK, DecemNewtek Business Services, Inc. Newtek Business Services, Inc., The Small Business Authority, Closes on Capital One Bank Warehouse Line Rubenstein Public Relations Telephone: (212) 843-8073Ĭontact: Adam Mazur / IMMEDIATE RELEASE DC9943.pdf - Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filingġ440 Broadway, 17 th Floor New York, NY 10132