NEW YORK, Oct. 2, 2015, NASDAQ, NEWT, /PRNewswire/ — Newtek Business Services Corp., (NASDAQ: NEWT) (www.thesba.com) 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 1,300 respondents, the key finding from the September survey is 96% of business owners have not been denied access to a traditional bank loan. Additionally, 91% of business owners do not need capital to expand, advertise, or purchase inventory.
The full September 2015 results showed the following:
Has your company been denied access to a traditional bank loan?
Does your business need capital to expand, advertise or purchase inventory?
Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “We appreciate the consistency year over year as it comes to our clients being able to obtain traditional bank financing and capital to grow their businesses. The data makes two things very clear. First, businesses tend to be having greater success and not getting turned down, which is a welcomed outcome of the 2008-2009 credit crises. Secondly, it still appears that only 1 out of 10 independent business owners are seeking capital to expand their businesses which is further indication of the sluggish economy.”
About Newtek Business Services Corp.
Newtek Business Services Corp., The Small Business Authority®, 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 products and services include: Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage™, Insurance Services, Web Services, Data Backup, Storage and Retrieval and Payroll.
The Small Business Authority® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.
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.” 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 www.sec.gov
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Newtek Business Services Corp.
Chairman and CEO