NEW YORK, Feb. 22, 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 January 2013 reaching 116.79 points. Newtek merchant processing volume and the Russell Microcap Index led the increase. The SB Authority index is up .73% from December 2012.
President and CEO, Barry Sloane said, "Despite a negative Flash GDP number for fourth quarter of 2012, of which most of the drag came from government spending reductions, the SB Authority Index was up .73% for January. We see a strong upwards movement in certain components like the Russell Microcap Index, our own merchant services portfolio processing volumes and SBA loan origination volumes. We think that the likely government sequestration will clearly reduce GDP as government spending contracts, but the private sector appears to be poised and wants to expand. The stock markets and lending markets are leading indicators which will provide nice tailwinds for 2013 with reduced government spending providing the brakes."
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority, provides the following products and services:
- Newtek Advantage™ : Mobile real-time operating platform for business intelligence. The Newtek Advantage™ puts all critical business transactions in real-time. Access data on your smartphone, tablet, laptop or PC as it relates to eCommerce for credit/ debit transactions, website statistics, payroll, insurance and business loans.
- 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.
- 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.