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SOURCE Newtek Business Services, Inc.
The SB Authority Index Shows Improvement Within The Small Business Economy
NEW YORK, Nov. 4, 2013 /PRNewswire/ -- Newtek Business Services, Inc., NASDAQ: NEWT, The Small Business Authority®, announced the release of the SB Authority Index of small business indicators for September 2013 reaching 122.04 points. Newtek merchant processing, the Russell Microcap Index, and approved SBA loan volumes led the increase. The SB Authority Index is up .72% from August 2013. As a year-over-year comparison, the SB Authority Index is up from 113.92 points, a 7.12% increase.
President and CEO, Barry Sloane said, "It seems like we are getting the same results month in and month out from the same indicators. Easy money and quantitative easing from the Fed is driving stock prices higher, consumers to spend and consume more, and banks are lending more to offset low cost deposits. What our small business clients fear is the eventual tapering administered by the Fed will kill off the tepid growth. We will have to monitor these changes closely."
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority®, provides the following products and 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.
The Small Business Authority® is a registered trade mark of Newtek Business Services, Inc., 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" 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
Rubenstein Public Relations
Telephone: (212) 843-9335
Contact: Jonathan Goldberg / firstname.lastname@example.org
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