Newtek Hires Two Senior Executives for Risk Division and Newtek Business Credit

NEW YORK, May 19, 2014 /PRNewswire/ – Newtek Business Services, Inc. NASDAQ: NEWT, The Small Business Authority®, announced today that it has attracted and retained the talents of two senior executives, Susan Streich and Harold Gartner.

Susan Streich will be joining Newtek Business Services, Inc. and Newtek Small Business Finance, Inc., our nationally licensed SBA 7(a) lender, as Chief Risk Officer and Chief Compliance Officer. Ms. Streich has over 30 years of experience as an executive-level finance professional with extensive experience initiating and leading national small business lending departments ensuring their compliance with federal and corporate requirements. Ms. Streich comes to Newtek from Booz Allen Hamilton where she served as a Senior Advisor, Project Lead and Subject Matter Expert for multiple government clients, including the U.S. Department of Treasury, Community Development Financial Institutions Fund and the State Small Business Credit Initiative Fund. Ms. Streich previously worked as a Director at Capital One Bank with an overall loan production exceeding $1.5 billion and as President of Transamerica Small Business Capital.

Harold Gartner joins Newtek as President and Chief Operating Officer of Newtek Business Credit. As a structured finance professional, Mr. Gartner brings nearly 30 years of experience in receivables finance, asset-based lending, factoring, warehouse lending, asset-backed securitization, principal finance, whole loan acquisitions, and corporate M&A. Mr. Gartner’s career includes executive management positions at Morgan Stanley, Chase Manhattan Corporation (now JP Morgan Chase Bank), Nomura Securities International, Daiwa Securities America, ING Capital Markets, and as a small business owner, retained consultant to major institutional clients in the U.S. Capital Markets and Receivables Servicing industries. Mr. Gartner will be based in the Company’s West Hempstead, New York location.

Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “Susan Streich, with over 30 years of experience in the SBA 7(a) small business lending space, augments the depth of our management team as well as brings us significant experience in lending compliance, policy and procedures. Susan has a tremendous background managing and operating small business lending operations and has an extensive background in credit as well.  Susan will be based in Virginia, geographically giving us a good presence dealing with businesses and all government agencies.”

Mr. Sloane continued, “Harold Gartner will be working very closely with Peter Downs, our President of Newtek Small Business Finance, Inc., to grow our accounts receivable based factoring business, as well as other credit based products as we attempt to transition into a Business Development Company, for which we are awaiting regulatory clearance from the Securities and Exchange Commission. Mr. Gartner’s 25 plus years of experience in receivables financing and capital markets is most welcome to our West Hempstead, New York-based operation.”

About Newtek Business Services, Inc.

Newtek Business Services, Inc., The Small Business Authority®, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek brand. including:

  • The Newtek Advantage: Mobile real-time operating platform for business intelligence. The Newtek Advantage puts all critical business transactions in real-time. Access data on your smartphone, tablet, laptop or PC as it relates to eCommerce for credit/ debit transactions, website statistics, payroll, insurance and business loans.
  • Electronic Payment Processing: eCommerce, electronic solutions to accept non-cash payments, including credit and debit cards, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs.
  • Managed Technology Solutions (Cloud Computing): Full-service web host, which offers eCommerce solutions, shared and dedicated web hosting and related services including domain registration and online shopping cart tools.
  • eCommerce: A suite of services that enable small businesses to get up and running on-line quickly and cost effectively, with integrated web design, payment processing and shopping cart services.
  • Business Lending: Broad array of lending products including SBA 7(a) and SBA 504 loans.
  • Insurance Services: Commercial and personal lines of insurance, including health and employee benefits in all 50 states, working with over 40 insurance carriers.
  • Web Services: Customized web design and development services.
  • Data Backup, Storage and Retrieval: Fast, secure, off-site data backup, storage and retrieval designed to meet the specific regulatory and compliance needs of any business.
  • Accounts Receivable Financing: Receivable purchasing and financing services.
  • Payroll: Complete payroll management and processing services.

Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today’s marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the Newtek brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.

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.

Contact: Simrita Singh
Telephone: (212) 356-9566 / ssingh@thesba.com 
Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@thesba.com 
Contact: Brett Maas
Telephone: (646) 536-7331 / brett@haydenir.com

Logo – http://photos.prnewswire.com/prnh/20140205/NY59564LOGO

SOURCE Newtek Business Services, Inc.

RELATED LINKS
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Your Good Name and Credit Reputation are Important in Tough Economic Times

FORT LAUDERDALE, FLORIDA — In an ever worsening economy your good name and reputation within the community is becoming more important. Creditors have tightened their guidelines effectively barring millions of Americans from borrowing money. Even those with excellent credit are experiencing reduced credit limits and closed equity lines. Mortgage lenders, auto finance companies, credit card issuers and banks have all raised the bar. Borrowers with low credit scores can expect to be denied or to pay significantly higher interest rates than those with excellent credit. Long gone are the days of obtaining credit, goods, benefits, services and/or employment with a 620 credit score. In more instances than not, a consumer will be denied if they maintain a credit score lower than 720.

The terms credit repair, credit restoration and/or credit rehabilitation are somewhat synomous. Those with bad credit cannot afford to ignore the potential benefits of credit repair. In today’s society, credit repair is more important than ever. Approximately 78% of credit profiles contain some sort of error or omission materially impacting credit worthiness. As such, one would be wise to at least explore retaining a reputable credit service organization in the restoration of their own good name and reputation within the community. With that said, Credit Restoration Consultants may be that credit service organization.

Credit Restoration Consultants is a credit service organization specializing in the restoration of consumer credit worthiness as well as identity theft. We assist consumers in achieving a favorable financial credit profile. Everything we do is legal utilizing laws enacted by Congress to dispute negative, erroneous, obsolete, and/or fraudulent information contained within your consumer credit profile.

Utilizing the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, and the Fair and Accurate Credit Transactions Act, Credit Restoration Consultants will assist a consumer in the submission of disputes electronically, verbally and in writing to the Equifax, Experian and Trans Union consumer reporting agencies in addition to creditors, collection agencies, third-party record providers and state/federal/private regulatory authorities. Keep in mind that anything Credit Restoration Consultants can do – you can do yourself. Where Credit Restoration Consultants has the edge is the fact that we possess the education, knowledge and a source proven method which yields results.

Unlike most credit service organizations that submit the same written dispute letters monthly, Credit Restoration Consultants has devised a strategy whereby disputes are submitted electronically, verbally and in writing over a six month period to the credit reporting agencies, creditors, collectors, and third-party record providers reporting negative, inaccurate, obsolete and/or erroneous information. Utilizing the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, the Fair and Accurate Credit Transactions Act, in addition to laws applicable to a particular state, Credit Restoration Consultants has obtained thousands of deletions and updates for its clients. Credit Restoration Consultants can help remove erroneous and/or inaccurate judgments, liens, bankruptcies, student loans, inquiries, derogatory tradelines, personal identifiers and more! While the credit restoration process can take anywhere from 30 days to six months, most clients see dramatic results in 45-60 days.

Still not convinced as to the benefit of utilizing Credit Restoration Consultants in the restoration of your good name and reputation within the community? You should tune into “The Credit Report with Bill Lewis.” As a nationally known credit repair expert, Bill can be heard weekday’s on the 9′s – both 9:00 a.m. and 9:00 p.m. eastern time – on AM 1470 WWNN in south Florida. For those listening online, streaming audio can be accessed at www.wwnnradio.com/ by clicking on the listen live link.

For more information on Credit Restoration Consultants or to discuss existing special offers, please contact us at (954) 581-5050 or online at www.talkaboutcredit.com

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