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Press Releases


Majority of Business Owners Optimistic Regarding U.S. Economy in 2016

NEW YORK, Jan. 12, 2016 (GLOBE NEWSWIRE) — Newtek Business Services Corp., (NASDAQ:NEWT) (www.newtekone.com) The Small Business Authority®, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 960 respondents, the key finding from the December survey is 53% of business owners are optimistic about the U.S. Economy going into 2016.

The full December 2015 results showed the following:

Poll Question

Poll Answer

2015 Percentage

 
Going into 2016, regarding the U.S. Economy, are you:  

More optimistic

53

%

More pessimistic

16

%

Neutral

31

%

Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “We wonder whether or not our independent business owners, if polled in January given current events including a significant decline in domestic and global stock markets, would be quite as optimistic looking into 2016. The United States’ government economic statistics report a lower decline in the unemployment rate and an increase in non-farm payroll, both of which have seasonal adjustment factors which can skew data. The decline in commodity prices, which is great for consumers, is typically a cautionary flag even for a U.S.-based consumption-driven economy. We are happy with the optimism expressed in the small business economy which we believe will help the outlook for all businesses in 2016.”

About Newtek Business Services Corp.

Newtek Business Services Corp., The Small Business Authority®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 SMB accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.

Newtek’s products and services include: Business Lending, Electronic Payment Processing,  Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, Insurance Services, Web Services, Data Backup, Storage and Retrieval and Payroll.

The Small Business Authority® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.

Note Regarding Forward Looking Statements

Statements in this press release including statements regarding Newtek’s beliefs, expectations, intentions or strategies for the future may be “forward-looking statements.” All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in Newtek’s filings with the Securities and Exchange Commission and available through www.sec.gov

For more information, please visit the following websites:
www.newtekone.com

FROM:

Newtek Business Services Corp. | https://www.newtekone.com

Contact: Simrita Singh

(212) 356-9566 | ssingh@newtekone.com

Investor Relations

Contact: Jayne Cavuoto

 (212) 273-8179 | jcavuoto@newtekone.com

Newtek Business Services Corp.

Barry Sloane | Chairman and CEO

212-356-9500 | bsloane@newtekone.com





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