Management and Board of Directors


Mr. Sloane is the President, Chairman and CEO of Newtek Business Services Corp. Prior to joining Newtek Business Services, Mr. Sloane was a Managing Director of Smith Barney, Inc. where he directed the Commercial and Residential Real Estate Securitization Unit and, prior to that, he was national sales manager for institutional mortgage and asset backed securities sales. Mr. Sloane was founder and President of Aegis Capital Markets, a consumer loan origination and securitization business. Additionally, he was Senior Vice President of Donaldson, Lufkin and Jenrette, where he was responsible for directing sales of mortgage-backed securities and was a senior mortgage security sales person and trader for Bear Stearns, L.F. Rothschild, E.F. Hutton and Paine Webber.


Mr. Brunet currently serves as an Executive Vice President and the Chief Information Officer of Newtek Business Services Corp. In addition, Mr. Brunet is responsible for strategic planning and marketing on a company-wide basis. Prior to joining Newtek, Mr. Brunet was Chairman and CEO of Harvest Strategies, a strategic consulting firm, and was responsible for developing and implementing corporate strategic plans for its clients on a global basis. Mr. Brunet began his career at South Central Bell Telephone Company and was promoted to AT&T Corporate where he held varying responsibilities in marketing, product development, finance, special bids, National Account Management, and Client Education and Training. He also held the position of Director of Strategic Planning. In 1989, Mr. Brunet became Executive Vice President of Entergy Corporation and was accountable for managing and directing the overall Entergy System retail and wholesale marketing effort, including strategy development, policy preparation and administration, market development, and market analysis and research. During his tenure with Entergy, he served as Chairman of the Strategic Planning Committee of the Electric Power Research Institute (EPRI). He also served on the Board of Directors of Entergy Enterprises guiding decisions on unregulated activities, including strategic acquisition of and investments in generation and distribution, and new technology assets domestically and internationally.


Mr. Downs is our Chief Lending Officer, Director and President of Newtek Small Business Finance. He joined Newtek in 2003 and has been the President of Newtek Small Business Finance and a member of both Credit and Risk committees for the company. He has had primary responsibility for the development of the company’s lending policies and procedures, portfolio and marketing, from its inception. In 2008, Mr. Downs took on the additional responsibility as the Chief Credit Officer of Newtek Business Credit, with the primary responsibility to grow and manage the company’s accounts receivable finance and management business. In addition he has been a member of the credit committee for each of Company’s Capcos. Prior to joining Newtek in 2003, Mr. Downs spent sixteen years in various small business lending roles within the banking industry. From 1990 to 2001, he was employed with European American Bank (“EAB”), where he held various positions including New Business Development Officer for Small Business Lending and Group Manager of Retail Small Business Lending which encompassed the underwriting and servicing of the bank’s small business loan portfolio. With EAB’s acquisition by Citibank, Mr. Downs was asked to run the bank’s SBA lending portfolio in New York, eventually named the National Director of SBA lending, coordinating the bank’s SBA underwriting and sales efforts in all Citibank markets across the country. In addition to his banking experience, he has been involved in several non-profit small business advisory boards, and has been a member of the National Association of Government Guaranteed Lenders (NAGGL) Regional Technical Issues Committee.


Ms. Eddelson is a certified public accountant licensed in the state of New York and has served as Executive Vice President and Chief Accounting Officer of Newtek Business Services Corp. since July 1, 2011. Previously Jennifer was employed by the Company since 2004 as Corporate Controller, Vice President of Financial Reporting since 2006, and in these and her current capacities has had a principal responsibility for the development and implementation of the Company’s accounting policies and practices. Previously, Ms. Eddelson practiced as a certified public accountant for eight years with Janover, LLC, a public accounting firm located in New York, primarily in the audit and tax area. Ms. Eddelson is a member of the NYS Society of CPAs and a member of the AICPA.


Michael A. Schwartz has been the Chief Compliance Officer since October 2015, Chief Legal Officer and Secretary of Newtek Business Services Corp. since January 2015, and a member of the Company’s executive committee since November 2014. Prior to that, Mr. Schwartz was Senior Counsel to the Company, representing the Company and its subsidiaries, with a focus on the origination, closing, sale, servicing and securitization of SBA loans to qualifying small businesses. Prior to joining the Company, Mr. Schwartz spent twenty-two years in private practice specializing in complex litigation in the fields of securities (Securities Act of 1933 and the Securities Exchange Act of 1934), mergers and acquisitions, corporate governance, commercial law, unfair employment practices, consumer protection and antitrust. Mr. Schwartz served on the Company’s Board of Directors from 2005 through 2009.


A veteran accounting and audit executive, with over 40 years’ of experience, Mr. Salute will serve on the Board and as Chairman of the Audit Committee. Mr. Salute served as a Managing Partner of the Long Island office of CohnReznick, where he was the Capital Markets and SEC Practice Director until his retirement in April of 2012. Additionally, during his tenure at CohnReznick, he was the engagement partner on Newtek’s account for approximately 5 years through 2010. Prior to CohnReznick, Mr. Salute spent nearly 30 years at Arthur Anderson, a global accounting firm, managing complex audits for medium- and large-sized public and private companies, and was responsible for providing his clients with strategic planning services as well as consultation in areas of corporate finance, mergers and acquisitions and process evaluation. Throughout his career, Mr. Salute has been the key accounting and finance professional in numerous initial public offerings and had an integral role in raising capital in the public markets for many of his clients. During his career, he has represented a multitude of publicly traded clients.


Sal Mulia began his career in Finance in 1980 with General Electric’s Financial Services Division, GE Capital. In various assignments he was responsible for developing new businesses as well as creating innovative loan and lease products. In the capacity of lead banker, Mr. Mulia led the acquisition and syndication of $4.0 billion of loan/lease receivables, and was instrumental in developing the business plan for GE Capital’s entry into SBA lending. Since 1993 Sal has been a principal in RTM Financial Services Inc. (“RTM”), an investment and advisory firm dedicated to helping small businesses. In an advisory role, he created Pitney Bowes SBA Lending Unit, and was responsible for loan portfolio acquisitions. RTM is a principal and equity investor in leasing/lending companies and R.E. partnerships and maintains close relationships within the banking community.


Mr. Kirschner has, since he co-founded MayerCap, LLC in 2003, been a Managing Member of the company. MayerCap, LLC manages investments in hedge funds, as a fund-of-funds, and is headquartered in New York City. MayerCap, LLC places particular emphasis on investing in newer and smaller hedge funds. Mr. Kirschner has also been since 1986 president of Nexus Family Business Consulting where he has specialized in advising owners, boards and senior executive of major family-owned businesses and large domestic and foreign banks on matters of succession planning, estate planning and strategic mergers and acquisitions. He has also consulted on the identification and recruitment of senior executives. Mr. Kirschner holds a Ph.D. in clinical psychology and has taught at both New York University School of Continuing & Professional Studies and the Wharton School of Business at the University of Pennsylvania.