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SOURCE Newtek Business Services, Inc.
Newtek, The Small Business Authority®, Releases June 2014 SB Authority Index
NEW YORK, July 31, 2014 /PRNewswire/ -- Newtek Business Services, Inc. NASDAQ: NEWT, The Small Business Authority®, announced today the release of the SB Authority Index of small business indicators for June 2014 which reached 127.83 points. The Russell Microcap Index, approved SBA lending volumes and new business formations led the increase. The SB Authority Index is up 0.32% from May 2014. On a year-over-year comparison, the SB Authority Index is up 7.07%.
Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, "The small business economy continues to mirror the overall trends seen in the U.S. economy. We are still experiencing a jobless recovery where most growth is driven by higher stock prices and an increased need for banks to lend money. We finally are seeing a small lift in new business formations. If and when hiring activity starts to increase, we would foresee a more robust small business economy, which would be great for all of our independent business owners and operators."
About Newtek Business Services, Inc.
Newtek Business Services, Inc., The Small Business Authority®, is the Authority for the small-and medium-sized business (SMB) market providing a wide range of business services and financial products under the Newtek® brand. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 business accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.
The Small Business Authority® is a registered trade mark of Newtek Business Services, Inc., 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" under the Private Securities Litigation Reform Act of 1995. 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 http://www.sec.gov.