NEW YORK, Nov. 29, 2011 /PRNewswire/ -- Newtek Business Services, NASDAQ: NEWT, The Small Business Authority, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 1,000 respondents, one of the key findings from the November survey is 88 percent of business owners do not think it is right for the Federal Government to force a state resident to buy health insurance.  In addition, only 9 percent believe they will have to purchase health insurance from the government while 53 percent believe the cost of healthcare is going to increase in the next two years.  

The full November 2011 results showed the following:

Barry Sloane, Chairman, President and CEO of The Small Business Authority commented, "We are amazed that business owners do not truly understand the potential reality of the Patient Protection and Affordable Health Care Act more informally known as ObamaCare.  There is wide spread theory that the PPACA will clearly reduce choice for private carriers and allow remaining carriers to continue to raise premiums subject to government regulation.  If the Federal government, under the act, believes private insurers should not exist based upon pricing premium received versus coverage offered they effectively could eliminate this private sector business model.  We are not taking the position that this will happen, we are only taking the position that this may happen and so few business owners (9%) think of this as a possibility.  The Supreme court may rule the individual mandate and other parts of ObamaCare are unconstitutional and this would prove our survey participants were somewhat clairvoyant."

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.