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June 25, 2012 /PRNewswire/ -- Newtek Business Services, NASDAQ: NEWT,
The Small Business Authority, announced the release of the SB Authority Index for
May 2012 reaching 112.08 points. The SB Authority index is up .57% from
April 2012. The increase was led by Newtek proprietary's merchant processing volume, approved SBA gross lending volume and new business formations.
President and CEO,
Barry Sloane said, "The SB authority has returned to a growth mode after a recent decline sequentially from March to April. Although many aspects of the economy appear to be weak, the consumer marches on and continues to spend by use of its available credit as well as an anemic growth on personal income. We are suspect as to whether this can continue, however, we wonder what the effects the Supreme Courts decision on "the Obama Administrations healthcare plan" will have on the small business economy after it is passed down this week."
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.
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 StatementsStatements 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.