Profile: Newtek Business Services Corp (NEWT.OQ)
Newtek Business Services Corp., incorporated on August 26, 2013, is an internally managed non-diversified closed-end management investment company. The Company's investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls. The Company is a national non-bank lender that provides, together with its controlled portfolio companies, a range of business services and financial products under the Newtek brand to the small and medium-sized business (SMB) market. The Company issues debt and makes equity investments in portfolio companies in various industries. The Company's products and services include Business Lending including the United States Small Business Administration (SBA) 7(a) and 504 lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), e-Commerce, Accounts Receivable and Inventory Financing, The Secure Gateway, The Newtek Advantage, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll and Benefits Solutions to SMB accounts across all industries.
The Company's portfolio consists of guaranteed and unguaranteed non-affiliate loan investments that were made through its small business finance platform, consisting of Newtek Small Business Finance, LLC (NSBF), a licensed SBA lender. NSBF originates, sells and services SBA 7(a) loans made to qualifying SMBs, which are partially guaranteed by the SBA. The small business finance platform also includes the operations of CDS Business Services, Inc. doing business as Newtek Business Credit Solutions (NBC), a controlled portfolio company, which provides receivables financing, inventory financing and healthcare receivables financing, and management services to SMBs. NBC funds SBA 504 loans, which provide financing of fixed assets, such as real estate or equipment. Small Business Lending, LLC, doing business as Newtek Small Business Lending (SBL), a portfolio company, engages in third-party loan servicing for SBA and non-SBA loans. As of December 31, 2016, NBSF had investments in various industries, such as Food Services and Drinking Places; Amusement, Gambling and Recreation Industries; Ambulatory Healthcare Services; Professional, Scientific and Technical Services; Repair and Maintenance; Accommodation; Specialty Trade Contractors; Truck Transportation; Merchant Wholesalers, Durable Goods; Gasoline Stations, and Other.
The Company competes with Heartland Payment Systems, First National Bank of Omaha, Paymentech, L.P., 1&1, Hosting.com, Discount ASP, Maxum ASP, GoDaddy, Yahoo!, BlueHost, iPowerWeb and Microsoft Live.
Newtek Business Services Corp
1981 Marcus Ave Ste 130
NEW HYDE PARK NY 11042-2060
Company Web Links
- BRIEF-Newtek Small Business Finance increases Capital One revolving credit facility to $100 mln
- BRIEF-Newtek Business Services reports net investment loss per share of $0.13
- BRIEF-Newtek Business Services Corp declares Q1 cash dividend of $0.36 per share
- BRIEF-Newtek Business Services forecasts annual div of $1.57 per share in 2017
- BRIEF-NEWTEK BUSINESS SERVICES PRICES PUBLIC OFFERING OF COMMON STOCK