Newtek Small Business Finance maintains its position as the largest

BOCA RATON, Florida, April 12, 2022 (GLOBE NEWSWIRE) – Newtek Business Services Corp. (NASDAQ: NEWT), an in-house business development company (“BDC”), announced today that Newtek Small Business Finance (“NSBF) ”) Maintained its position as the largest non-bank lender (with PLP status) licensed by the SBA under the Federal Loan Schedule Section 7 (a), based on the dollar loan approval volume as of March 31, 2022. In addition, the NSBF was ranked as 2nd largest lender SBA 7 (a), including banks, with a loan approval volume in dollars as of March 31, 2022.

Barry Sloane, President, President and CEO of Newtek, commented: “We are delighted to have maintained our position as the top non-bank lender SBA 7 (a) among banks and the second largest lender SBA 7 (a) including banks. Remaining a top lender SBA 7 (a) is a testament to our continued focus and inherent efficiency in the SBA 7 (a) loan program. We plan to continue to develop this platform and are excited about what the future holds for our lending program and the Company as a whole. We look forward to reporting the financial results of the first quarter of 2022 during the first week of May “.

Newtek Business Services Corp., Your Business Solutions Company®, is a BDC internal management company which, together with its controlled portfolio companies, provides a wide range of business and financial solutions within Newtek® name in the SME market (“SMB”). Since 1999, Newtek has been providing state-of-the-art products, cost-effective and effective business strategies to MMB relationships in all 50 states to help them increase their sales, control their costs and reduce risk.

The products and services of Newtek and its portfolio companies include: Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services and Payroll and Benefit Solutions.

Newtek® and the Business Solutions Company® are registered trademarks of Newtek Business Services Corp.

Note About future statements

This press release contains some future statements. Words such as “believes”, “intends”, “expects”, “predicts”, “predicts”, “predictions”, “goal” and “future” or similar expressions are intended to identify forward-looking statements. All future statements contain a number of risks and uncertainties that could make a significant difference to the actual results of the plans, intentions and expectations reflected or proposed by future statements. Such risks and uncertainties include, but are not limited to, increased competition, operational problems and their impact on revenue and profit margins, expected future business strategies and financial performance, expected future customer base, business prospects, legislative developments and the like. Risk factors, warnings and other circumstances that could cause Newtek’s actual results to differ from management’s current expectations are contained in Newtek’s files on the Securities and Exchange Commission and are available through http://www.sec.gov/. Newtek warns you that future statements are not a guarantee of future performance and that actual results or developments may differ substantially from those expressed or implied in these statements.

SOURCE: Newtek Business Services Corp.

Investment Relations & Public Relations
Contact: Jayne Cavuoto
Phone: (212) 273-8179 / jcavuoto@newtekone.com

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