NEW YORK, Jan. 25, 2012 /PRNewswire/ -- Newtek Business Services, NASDAQ: NEWT, The Small Business Authority, announced the release of the SB Authority Index for December 2011 reaching 109.82 points. The SB Authority Index is up .34% from November 2011. The slight improvement was led by new business formations, Newtek's proprietary merchant processing volume and retail sales.
President and CEO, Barry Sloane said, "The continuous increase in new business formations over the course of 2011 is extremely positive and could provide the inertia for significant growth in the SMB segment. When businesses start up, they hire new staff from zero, rent new space from zero, pay tax from zero and purchase hardware/software, all components which are very stimulating."
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.
- 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.