Newtek Business Services Corp. (NASDAQ: NEWT) is an internally managed business development Company ("BDC") that 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. SNNLive spoke with Barry Sloane, Chairman, President and CEO of Newtek Business Services Corp. at the LD Micro "Main Event" 2014 in Bel Air, CA.
Mr. Sloane begins with an overview of the company, “We’ve been in existance on the public market since September of 2000. We provide business services to over 100,000 business accounts all across the United States. Some of the things we do: we’re the largest non-bank SBA (Small Business Authority) lender, we’ll probably put out about $220 million of funds this year; we process payments for 15,000 Visa, Discover, Master, American Express, cloud computing, payroll, all forms of services that are vital to independent business owners.”
He discusses Newtek’s business lending division, “We’ve been in the SBA lending business for over 11 years and frankly the other four major business units we’ve owned and operated for four years, so we’ve managed all these businesses over a long period of time and frankly, Shelly, they’re integrated. When you think of an e-commerce solution, you’ve got a website, you got a hosting plan, you got a gateway, you got payment processing. We do all those things, so instead of a business owner going to four different places, they comes to us. Health and benefits, payroll, workman’s comp. and instead of going to three places they come to us.”
He goes into what to look forward to for Newtek in 2015, “In 2015, our goals will be to grow our lending presence significantly, probably by 30 to 40%. I think towards the tail-end of '15 and '16, doing some acquisitions in the business services space, we have over 500,000 businesses that have come to us through our referral system so we’re getting bigger, more well-known, it’s spreading. Our reputation as the small business authority is growing.” For more information, check out their website: www.TheSBA.com
Since speaking with Mr. Sloane in early December 2014, the company has made the following announcements:
© 2017 Stock News Now
Supported by Superior Web Solutions