Newtek today announced that Standard & Poor’s Ratings Services recently reaffirmed its AA rating on the class A notes from Newtek Small Business Loan Trust 2010-1. Standard & Poor’s stated that the affirmation reflects their view that the class A notes can withstand their ‘AA’ stress given their current available credit enhancement.
Barry Sloane, Newtek President, Chairman and Chief Executive Officer said, “We are pleased with S&P’s reaffirmation of the AA rating on the 2010 securitization by our lending subsidiary, Newtek Small Business Finance, Inc. This securitization has been on our books for approximately 2.5 years, and this reaffirmation is testament to the quality of the loans we originate and adherence to our stringent underwriting standards.”
Newtek Small Business Loan Trust 2010-1 is an asset-backed securities transaction collateralized primarily by a pool of unguaranteed portions of U.S Small Business Administration Section 7(a), loans backed by commercial real estate and other collateral, such as equipment or receivables. Since this issuance in December of 2010, Newtek Small Business Finance has completed two additional asset-backed securities transaction, in 2011 and the first quarter of 2013. Guggenheim Securities acted as the placement agent for all 3 securitizations.
Mr. Sloane concluded, “Our ability to securitize has contributed significantly to the 42% increase in our funded loan volume in the first quarter of 2013 over the first quarter of 2012. We have also seen an improvement in our securitization economics. In our March 2013 securitization, we improved both our long-term cost of interest by more than 150 basis points and increased securitization proceeds by between 8% and 9% compared to our previous two securitizations in 2010 and 2011. As we continue to grow our loan origination volume, we look forward to bringing future quality issuances to the market as early as the fourth quarter of 2013, or in the first quarter of 2014.”
One can hardly escape business school (okay, high school) without being well-prepared to go into an interview, blow away potential employers with your poise, intelligence, and wit, and land the job of your dreams. There are whole how-to guides, and books, and classes devoted to the art of rocking a job interview. But what about what it takes to sit on the other side of the table? How exactly does one go about conducting a job interview to find success, meaning, and ultimately, the best hire for the job (as opposed to someone who just looks good in an interview. Thanks a lot, ubiquitous interview prep guides!)
MySpace, a founding father of the social media movement, suffered a major decline in membership from the 2008 to present resulting from a range of poor decisions. It was soon overtaken and surpassed by Facebook which had the opportunity to learn from the former social media mogul’s mistakes. There is a lot of speculation as to why MySpace experienced such a massive exodus, but it is no mystery.
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So What “Really” Happened To and What’s Happening With MySpace?
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Relocating your business is a complex process, with a million and one details to take care of. Among other things, you have to contact service providers to discontinue service at the old location and start up at the new one. Then there are changes to your letterhead, stocking up on new business cards, updating contact information on your website. As you pack up old records and everything else you have in storage, one detail nags at you. What is it you’re forgetting?
That’s right—doing everything you can to retain your valued customers before, during and after the move is complete.
Good customer service turns one-time customers into loyal fans and increases the likelihood they’ll brag about you to their friends. This word-of-mouth advertising ranks among the most effective, yet elusive forms of promotion. Beyond satisfied customers contributing to your overall success, superb customer service prevents unhappy customers from spreading word of their displeasure.
Turn your patrons into your company’s biggest fans with these seven easy tips:
Greater Hudson Bank, with locations throughout the Hudson Valley, and over $300 million in assets, has agreed to partner with Newtek Business Services, Inc. The goal is to finance independently-owned and operated businesses in the marketplace with small business loans that range from $50,000 to $5 million to continue to help the local economy grow and create jobs.
“Greater Hudson Bank is committed to helping small businesses grow and prosper throughout the Hudson Valley,” stated Basel Rabie, SVP, Retail Banking Officer. “We are excited to partner with Newtek as we feel this partnership will allow us to provide even more options to assist and support our local business clients, especially during these tough economic times. Our goal is to be the Banking Choice in the area and offer services that our customers need and benefit from,” Rabie further stated.
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Greater Hudson Bank Signs Partnership with Newtek
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Yeah, we know, there are two of us. Well, sort of. There’s the Small Business Administration and then there’s Newtek, The Small Business Authority. At Newtek, we are known to provide innovative and affordable products designed to improve the experience of small business owners across the country and the world.
This morning, the Small Business Administration published an insightful blog touting the benefits of tablet-based POS systems. And they’re right on point. For many small business owners, you cannot beat the savings or the versatility.
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The SBA Sees the Sense/Cents in THIS SBA’s Product
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The FBI has issued a high-level security advisory regarding a Microsoft’s Internet Explorer 8 (IE8) vulnerability that could allow cybercriminals to hijack users’ computers, remotely. Again, this is considered an extremely high-risk issue and the Better Business Bureau (BBB) is providing a sequence of cautionary measures that may be taken by IE8 users to protect themselves and their machines from dangerous criminal conspirators.
To read more about this urgent security matter, and to access the link to the BBB’s list of recommended security steps to protect IE8, click here.
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There’s an art to writing a press release, but you don’t have to be a veteran journalist to pull it off. The key is understanding who your audience is and crafting a document that’s compelling, informative and easily understood. When it’s done right, there’s no better resource for promoting your business—and for the most part, it’s free.
Here are tips for getting your press release noticed and distributed:
Like you, I grew up learning from those nearest to me. As we approached adulthood, each of us developed a value system to steer our own special course through life. Experience and knowledge followed, and before long, circumstances placed us in a unique position from which others could benefit from our abilities.
So, what is this “unique position”? For most it is defined as management; and for a very few, it is known as leadership. Often, and mistakenly, managers and leaders are each thought to define the other: a good manager is necessarily an effective leader; a successful leader has mastered the art of management. Perhaps not so. To proceed, let’s start with the skill set you understand best: management.