NEW YORK, May 30, 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 April 2013 reaching 118.07 points. Newtek merchant processing volume, approved SBA gross lending volume and the Russell Microcap Index led the increase. The SB Authority index is up .66% from March 2013.
President and CEO, Barry Sloane said, "Life is slowly being breathed into an economy that has lingered and moved sideways for the longest time. The Federal Reserves "zero interest rate policy" has significantly inflated the Russell Microcap portion of our index and forced consumers to spend rather than save money in a bank at a virtually zero rate of interest. Small business lending volumes have also picked up with loan demand and banks looking to place money in loans and earn something more than the paltry yields presented to them by buying treasury bonds. A slightly stronger economy is present and on the horizon."
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.