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NEWT - Newtek Business Services Inc.


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Newtek Business Services Inc. logo

Newtek Business Services Corp., before its shift in business focus, was primarily engaged in providing financial and business services tailored for small and medium-sized businesses across the United States. Its services included both financial investments and business solutions, targeting early-stage ventures. The company offered a range of financing options, including debt and equity investments such as first lien, second lien, and unsecured loans with various repayment terms. Its operations were segmented into Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, and Capcos.

The company facillitated small business administration loans for purposes such as acquiring real estate, machinery, and inventory, as well as refinancing debt and funding working capital. Additionally, it provided comprehensive electronic payment processing services, web hosting, design and development, internet marketing, data storage, and ecommerce solutions. Newtek also offered insurance products, payroll management, and tax filing services, leveraging strategic partnerships with notable financial institutions and organizations like American International Group and Navy Federal Credit Union.

Founded in 1998 and headquartered in Boca Raton, Florida, Newtek Business Services Corp. had expanded its footprint with offices in various locations including New York, Louisiana, and Florida. The company's investment strategy focused on businesses requiring financing ranging from $0.3 million to $10 million, catering to diverse financial needs across different sectors of the economy.

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Stock Sector: Diversified Services: Business Services

 

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