Category Archives: News

Facebook to Unveil New Feature to Empower Small Business

facebook-logoFacebook announced Thursday it’s testing a new feature for small and medium-sized businesses across the country. The feature, for now called the ‘Buy’ button, will allow users to purchase products directly from their News Feed, permitting impulsive online shoppers to buy instantly from businesses’ Facebook pages, without being redirected to the merchant’s website or app.

The feature is currently being beta-ed amongst a very, very small group; a Facebook spokesman claimed less than five companies are currently testing the feature. Businesses can embed the Buy button on their Page post or in Facebook ads, the button will be available on both mobile and desktop versions of Facebook.

According to Facebook, almost 19 million small business owners manage Facebook Business Pages but many don’t have the ecommerce platform to sell their products. Facebook sees the Buy feature was a solution to this problem. The service is currently free for those testing the program, and Facebook claims they have no plans to monetize the feature moving forward.

Consumers will be prompted to make a transaction upon clicking the ‘Buy’ button – all without leaving the page. In light of recent breaches affecting companies large and small, the biggest concern for consumers will be security. Facebook is reassuring users that it is working on protecting its payment system from security gaps. The company says that a third party will be in charge of handling processing, so information isn’t shared directly with Facebook or the merchant (so they say).

No word on when the Buy button will make its Facebook-wide debut, but if all goes as planned, this feature should help small business owners up their ecommerce game, while simultaneously creating a new revenue stream for Facebook.

Apple & IBM Join Forces

appleIBMOn Tuesday, Apple announced an agreement with IBM that signals the tech giant’s occupation of the enterprise market. Utilizing each company’s respective strengths, the plan is to build business apps and professional software that matches the quality and simplicity of Apple’s consumer applications. Apple will sell its devices (which will come preloaded with newly developed enterprise software) to IBM’s corporate customers, and also provide on-site support. IBM plans to make more than 100,000 employees available for the Apple initiative, which will develop more than 100 new apps for various industries.

Mobile Payments On The Rise

mobile paymentEven though the mobile payments movement is only in its frontier stages, it’s grown rapidly in recent years with worldwide payments reaching $163.1 billion in 2012. That figure jumped to $235.4 billion by the end of 2013 (Gartner). A recent Nielsen report about the state of the industry sheds light on the particularities of this growing trend.

Modest Growth Trend Continues In Small Business Economy

Newtek---No-BG-300Newtek, The Small Business Authority®, Releases May 2014 SB Authority Index

Newtek has announced the release of the SB Authority Index of small business indicators for May 2014 which reached 127.41 points. The Russell Microcap Index, approved SBA lending volumes and new business formations led the increase. The SB Authority Index is up 0.37% from April 2014.  On a year-over-year comparison, the SB Authority Index is up 7.31%.

Newtek Hires Two Senior Executives

Newtek_Web_Services_noNewtNewtek has attracted and retained the talents of two senior executives, Susan Streich and Harold Gartner.

Susan Streich will be joining Newtek Business Services, Inc. and Newtek Small Business Finance, Inc., our nationally licensed SBA 7(a) lender, as Chief Risk Officer and Chief Compliance Officer. Ms. Streich has over 30 years of experience as an executive-level finance professional with extensive experience initiating and leading national small business lending departments ensuring their compliance with federal and corporate requirements. Ms. Streich comes to Newtek from Booz Allen Hamilton where she served as a Senior Advisor, Project Lead and Subject Matter Expert for multiple government clients, including the U.S. Department of Treasury, Community Development Financial Institutions Fund and the State Small Business Credit Initiative Fund. Ms. Streich previously worked as a Director at Capital One Bank with an overall loan production exceeding $1.5 billion and as President of Transamerica Small Business Capital.

Modest Growth Trend Continues In Small Business Economy

Newtek, Releases the March 2014 SB Authority Indexindex_01

Wednesday, Newtek announced the release of the SB Authority Index of small business indicators for March 2014 reaching 126.33 points. The increase in the Russell Microcap Index, retail sales, and Newtek Merchant Processing volume led the trend. The SB Authority Index is up 0.58% from February 2014. On a year-over-year comparison, the SB Authority Index is up 7.70%.

8 Ways To Feel Happier in the Office Every Day

Young office worker phones at the officeNo one ever feels completely content, fulfilled, and stimulated during every moment of every office day – but there are definitely little alterations to your work environment, schedule, and strategies that can help shift your mood to the positive side more often.

1.     Save your favorite tasks for your least favorite time of day

Newtek Business Services Partners With Teachers Federal Credit Union (TFCU)

Newtek-headerNewtek has partnered with Teachers Federal Credit Union (TFCU), one of the largest and most prominent Credit Unions in the United States with 26 branches, 234,000 Members and $4.9 billion in assets, to provide its Members who own and operate businesses the essential tools they need to compete effectively in today’s marketplace.

Modest Growth Trend Continues In Small Business Economy

Newtek-headerYesterday, Newtek announced the release of the SB Authority Index of small business indicators for February 2014 reaching 125.60 points.  The Russell Microcap Index, new business formations and approved SBA lending volumes led the increase. The SB Authority Index is up 0.42% from January 2014.  On a year-over-year comparison, the SB Authority Index is up 7.29%.

Newtek Launches “The Cloud Authority™” TV Ad Campaign

Newtek’s Cloud Can Save Customers Up to 60%

Newtek-headerNewtek, The Small Business Authority®, today announced the launch of its first television advertising campaign for its industry-leading cloud hosting services. The advertising campaign will focus on Newtek’s ability to provide incomparable service, with free 24/7/365 domestic support necessary to enhance the daily operations, and bolster security for its business customers.  Newtek also announced that switching to the Newtek Cloud could save customers up to 60 percent in information technology (“IT”) costs with its offerings at multiple price-points without sacrificing quality or availability of service around the clock.  Newtek welcomes IT professionals and resellers to also utilize its Cloud on a private-label basis.