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Newtek to Present at First Annual Singular Research Solstice Conference

Posted on June 5, 2013 by The Small Business Authority

Newtek announced today that it has been invited to present at the First Annual Singular Research Solstice Conference at the Millennium Broadway Hotel in New York Cityon Thursday, June 13, 2013 at 8:30am EDT. Barry Sloane, President and CEO of Newtek Business Services, will be available during the day for one-on-one meetings. To schedule a meeting, please contact your Singular Research representative. A live webcast of the presentation will be available in the ‘Events & Presentations’ section of the Investor Relations portion of Newtek’s corporate website athttp://investor.newtekbusinessservices.com/events.cfm and will be available for 90 days following the live presentation.

For additional information, please email jcavuoto@thesba.com or send a message direct on twitter, The_SBA or SloaneBarry.

Biz. Borrowing Up in April 2013

Posted on June 3, 2013 by The Small Business Authority

According to Thomson Rueters/PayNet Small Business Lending Index it seems for the first time in 2013 there is an increase in business borrowing. Results clearly show that the index rose to 110.5 from just 99 so it is back where it was at the very beginning of the fiscal year.

As we have talked about on this blog over the last few months, business have shown some hesitancy to borrow because of concerns regarding federal budget cuts, questionable economic recovery, and of course the difficult-to-predict impact of new health care costs. That being said, it is hard to say whether the increase that happened in April actually marked the beginning of a true trend.

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AA Rating on Class A Notes from Newtek Small Business Loan Trust

Posted on May 21, 2013 by The Small Business Authority

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.”

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URGENT: Security Advisory for All Internet Explorer 8 Users

Posted on May 10, 2013 by The Small Business Authority

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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Newtek Reports 43% Increase In First Quarter 2013 Net Income

Posted on May 8, 2013 by The Small Business Authority

Today, Newtek reported its financial results for the quarter ended March 31, 2013.

First Quarter 2013 Consolidated Highlights:

Consolidated pretax income was $2.2 million; an increase of $569 thousand, or 34.8%, from $1.6 million in the first quarter of 2012.
Net income attributable to Newtek Business Services, Inc. was $1.5 million; an increase of $433 thousand, or 42.5%, from $1.0 million in the first quarter of 2012.
Modified EBITDA was $4.4 million; an increase of $1.3 million, or 41.9%, from $3.1 million in the first quarter of 2012.
Diluted earnings per share (“EPS”) were $0.04, a 33.3% increase over $0.03 per share in the first quarter of 2012.

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Newtek Acquires New Lending Partner

Posted on January 16, 2013 by The Small Business Authority

IBERIABANK, with its 184 bank branch offices in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida and $12.5 billion in assets, has agreed to partner with Newtek Business Services, Inc., NASDAQ: NEWT, The Small Business Authority. The goal is to finance independently-owned and operated businesses in these six states with small business loans that range from $50,000 to $5 million to continue to help the U.S. economy grow and create jobs. IBERIABANK, founded in 1887, is the largest bank holding company headquartered in Louisiana and employs more than 2,500 professionals.

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Travel Better with These Mobile Apps

Posted on November 3, 2012 by The Small Business Authority

Getting from one place to another, especially if it involves air travel, is growing more inconvenient by the day. From 3.3 oz toiletries to paying exorbitant prices for bags traveling is no longer considered the relaxing, enjoyable event it once was. There is, however, one shining beacon of hope – your mobile device. By keeping you connected, these gadgets can do wonders to help you easily navigate new territory and even increase your chances to experience some serious enjoyment. Here are some apps that can really make a difference:

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Data Centers Up in Size, Not Numbers

Posted on October 26, 2012 by The Small Business Authority

A significant decline in the number of data centers is expected by 2016, according to research firm International Data Corp (IDC).

As more data is moved to cloud-based applications, IDC says by the end of 2016, more than a quarter of all large data centers in the United States will be owned by service providers.

According to the report, for the first time in 2009, the total number of data centers in the United States fell by 0.7 percent. IDC says this decline was triggered by the economic crisis of 2008 and the “resultant closing of hundreds and thousands of remote locations with server closets and rooms.”

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U.S. Lawmakers Warn Against Huawei and ZTE

Posted on October 24, 2012 by The Small Business Authority

The U.S. House of Representatives Intelligence Committee warns U.S. companies not to do business with the top two Chinese telecommunications equipment manufacturers, Huawei and ZTE, in a new report released Monday.

Following an 11-month investigation, the report states that the Committee remains “unsatisfied with the level of cooperation and candor provided by each company.” The report claims that both companies remained unforthcoming with information about their relationship with Chinese authorities.

During a news conference releasing the results of the investigation, Committee Chairman Rep. Mike Rogers said the Intelligence Committee has received “numerous allegations” from U.S. companies about their Huawei routers sending data to China late at night.

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