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Newtek Business Services Corp
2 own
6 watching
Current Price
$19.41
$0.29
(1.52%)
1 Week Returns
3 Months Returns
1 Year Returns
Get Started with as little as $1.00
Market Capitalization
474.09M
52-Week High
28.42
52-Week Low
14.75
Average Volume
0.1M
Dividend Yield
0.08097
P/E Ratio
31.1572
Market Capitalization474.09M52-Week High28.4252-Week Low14.75Average Volume0.1MDividend Yield0.08097P/E Ratio31.1572What does the Newtek Business Services Corp do?
Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments. Under debt investments, it focuses on first lien loans, which have terms of 1 to 25 years; second lien loans, which have terms of 5 to 25 years, and unsecured loans, which are provided to meet short-term funding needs and are repaid within 6 to 12 months. It operates through Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, and Capcos segments. The company originates small business administration loans for the purpose of acquiring commercial real estate, machinery, equipment, and inventory, as well as to refinance debt and fund franchises, working capital, and business acquisitions; and offers small business loan servicing and consulting services to the Federal Deposit Insurance Corporation and various other financial institutions, as well as provides management services. Its electronic payment processing services include credit and debit card processing, check approval, ancillary processing equipment and software to merchants, eCommerce, electronic solutions to accept non-cash payments, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs. The company also provides Website hosting, dedicated server, and cloud hosting services; Web design and development; Internet marketing; data storage and backup and other related services; and ecommerce services, such as payment processing, online shopping cart tools, Website design and Web related services; Accounts Receivable Financing, and The Secure Gateway. In addition, it offers Newtek Advantage, a mobile, real-time operating platform enabling a business to access data on a smartphone, tablet, laptop, or PC for eCommerce, credit/debit transactions, Website statistics, payroll, insurance, and business loans. Further, the company sells personal, commercial, and health/benefits lines of insurance products; and payroll management processing and employee tax filing services. It has strategic alliances with American International Group, CTAA, Navy Federal Credit Union, Credit Union National Association, Pershing, and others to provide agent services to small business clients. The firm seeks to invest in New York and Louisiana area. The firm seeks to invest $0.3 million to $3 million in businesses. It provides small business terms loans ranging from $0.05 million to $10 million. The firm also provides account receivable financing ranging from $0.05 million to $1.5 million. It also provides $0.05 million to $10 million financing to owner occupied real estate businesses whose average net income over the last 2 years must not exceed $2.5 million. Newtek Business Services Corp.,was founded in 1998 and converted to a BDC company in 2014 and is headquartered in Boca Raton, Florida with additional offices in Lake Success, New York, Garden City, New York; Miami, Florida; Milwaukee, Wisconsin; New Orleans, Louisiana; and New York, New York.
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News & Events about Newtek Business Services Corp.
Globe Newswire
12days ago
BOCA RATON, Fla., Jan. 24, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the Company) (NASDAQ: NEWT) (the Company), announced that on January 23, 2023, the Company completed an exempt private offering of $50.0 million aggregate principal amount of its 8.125% notes due 2025 (the Notes). The Notes were ...
Globe Newswire
30days ago
Will Provide Demonstration of the Newtek AdvantageBOCA RATON, Fla., Jan. 06, 2023 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), today announced that Barry Sloane, Chief Executive Officer, will host a conference call on Wednesday, January 18, 2023 at 8:30 am ET, to discuss ...
Globe Newswire
30days ago
Newtek Business Services Corp. Becomes a Financial Holding CompanyBOCA RATON, Fla., Jan. 06, 2023 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (NASDAQ: NEWT) (Newtek) announced that on January 6, 2023, it completed its acquisition of the National Bank of New York City (NBNYC), a 59-year-old ...
Globe Newswire
30days ago
Will Release Financial and Operational Projections and Targets to the Investor and Analyst Community for 2023 and 2024 BOCA RATON, Fla., Jan. 06, 2023 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), today announced that Barry Sloane, Chief Executive Officer, will hold a ...
Globe Newswire
1month ago
Will Provide Update on the Financial Illustration of the Bank Holding Company and the Bank on a Go-Forward Basis Subsequent to the Acquisition of the National Bank of New York CityBOCA RATON, Fla., Dec. 12, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally ...
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Current Price
$19.41
$0.29
(1.52%)
1 Week Returns
3 Months Returns
1 Year Returns
Get Started with as little as $1.00
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