NEW YORK, Dec. 05, 2016 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (the "Company" or "Newtek") (NASDAQ:NEWT), an internally managed business development company ("BDC"), today announced that Newtek's electronic payment and eCommerce solutions portfolio companies processed $4.7 million in sales for its eCommerce merchants on Black Friday 2016, which is a 12.6% increase over Black Friday 2015. Newtek's wholly owned portfolio companies offering eCommerce
solutions are Newtek Merchant Solutions and Newtek Payment Solutions (Premier Payments LLC).
Barry Sloane, Chairman, President and Chief Executive Officer said, "We are proud to announce this strong year-over-year same merchants sales percentage increase in our eCommerce business, a testament to our focus on expanding and enhancing our eCommerce solutions offerings. We have fully embraced eCommerce as the future trend in the payments space and, with our deep understanding of the needs of the small- and medium-sized business owner, we have been able to satisfy their needs with our robust suite of eCommerce offerings including, but not limited to, mobile payments, virtual payment pages as well as state-of-the-art gateway solutions and platform methodologies. We believe that our portfolio companies are the only true eCommerce solution providers with web solutions, merchant processing and a payment gateway, among other key eCommerce
pieces, all in one place, giving the Newtek® brand the ability to effectively compete for and meet all of a business' eCommerce needs. We look forward to continuing to be at the forefront of this trend and capturing the multitude of opportunities we believe the market has to offer."
About Newtek Business Services Corp.
Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business ("SMB") market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 SMB accounts across all 50 states to help them grow their sales, control their expenses and reduce their risk.
Newtek's and its portfolio companies' products and services include: Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval),
eCommerce, Accounts Receivable Financing & Inventory Financing, The Secure Gateway, The Newtek Advantage™, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.
Newtek® and Your Business Solutions Company® are registered trademarks of Newtek Business Services Corp.
Note Regarding Forward Looking Statements
This press release contains certain forward-looking statements. Words such as "believes," "intends," "expects," "projects," "anticipates," "forecasts," "goal" and "future" or similar expressions are intended to identify forward-looking statements.
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/. Newtek cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.
Investor Relations & Public Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@newtekone.com
Source:
Newtek Business Services Corp.
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