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!)
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?
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.
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.
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.
