NEW YORK, 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."
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.