NEW YORK, Nov. 8, 2011 /PRNewswire/ -- Newtek Business Services, Inc. (Nasdaq:NEWT), The Small Business Authority, is a non-bank lender and is currently active in making small business loans, and has been ranked the number one non-bank lender based on dollar volume for the SBA 7(a) program for the fiscal year ending September 30, 2011 according to The Small Business Administration.  The company has announced that it has been authorized to fund $130,006,000 in guaranteed small business loans during 2011.  Gross loan approvals for 2010 were $75,013,500.  Newtek Business Services is in the top 20 of all lenders, banks and non-banks.

The Small Business Authority is an expert at helping small-business owners who are temporarily unable to secure conventional (bank) financing. With The Small Business Authority's experience and focus on the small-business market, it can effectively identify, evaluate and structure financial needs unique to small businesses.

Barry Sloane, Chairman and Chief Executive Officer said, "We are proud of our record in working with The Small Business Administration as the number one non-bank SBA 7(a) lender by loan volume for 2011.  We also provide receivable finance lines of credit to many independent business owners across the United States that are looking to grow their business.  We believe due to lack of bank participation, which is primarily driven by capital constraints, that our opportunity to work with independent business owners and finance their business will continue to be a focus for 2012."

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.  

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.  

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 Statements

Statements 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.

Rubenstein Public Relations
Telephone: (212) 843-9335
Contact: Liz Petrova / lpetrova@rubensteinpr.com

SOURCE Newtek Business Services, Inc.