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Last $16.84 USD
Change Today -0.20 / -1.17%
Volume 33.3K
NEWT On Other Exchanges
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

newtek business services cor (NEWT) Snapshot

Previous Close
Day High
Day Low
52 Week High
03/25/15 - $19.95
52 Week Low
08/4/14 - $11.30
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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newtek business services cor (NEWT) Details

Newtek Business Services Corp., a business development company, provides financial and business services to the small-and medium-sized business market in the United States and internationally. It operates through Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, All Other, and Capcos segments. The company originates small business administration loans for the purpose of acquiring commercial real estate, machinery, equipment, and inventory, as well as to refinance debt and fund franchises, working capital, and business acquisitions; and offers small business loan servicing and consulting services to the Federal Deposit Insurance Corporation and various other financial institutions, as well as provides accounts receivable financing and management services. Its electronic payment processing services include credit and debit card processing, check approval, and ancillary processing equipment and software to merchants. The company also provides Website, dedicated server, and cloud hosting services; Web design and development; Internet marketing; data storage and backup and other related services; and ecommerce services, such as payment processing, online shopping cart tools, Website design and Web related services. In addition, it offers Newtek Advantage, a mobile, real-time operating platform enabling a business to access data on a smartphone, tablet, laptop, or PC for eCommerce, credit/debit transactions, Website statistics, payroll, insurance, and business loans. Further, the company sells personal, commercial, and health/benefits lines of insurance products; and payroll management processing and employee tax filing services. It has strategic alliances with American International Group, CTAA, Navy Federal Credit Union, Credit Union National Association, Pershing, and others to provide agent services to small business clients. The company was founded in 1998 and is headquartered in New York, New York.

329 Employees
Last Reported Date: 03/31/15
Founded in 1998

newtek business services cor (NEWT) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $491.7K
Principal Financial Officer, Chief Accounting...
Total Annual Compensation: $290.0K
Chief Information Officer and Executive Vice ...
Total Annual Compensation: $276.0K
Compensation as of Fiscal Year 2013.

newtek business services cor (NEWT) Key Developments

Newtek Business Services Corp. Appoints Dean Choksi as Treasurer and Senior Vice President of Finance

Newtek Business Services Corp. announced that it has acquired the talent of Mr. Dean Choksi. Mr. Choksi will join Newtek as Treasurer and Senior Vice President of Finance. Mr. Choksi has over 14 years' of experience with financial analysis and equity research and possesses specific expertise in areas of valuation, financial modeling, capital markets and financing. Most recently, Mr. Choksi was the Executive Director of Finance at Fifth Street Management LLC, an investment advisor of two publicly traded BDCs, where he played a key role in capital market transactions, assisting in the raise of over $1.0 billion in public debt and equity, and was the primary contact for multiple lenders in a multi-hundred million dollar syndicated bank credit facility.

Newtek Business Services Corp. Announces Board Changes

Newtek Business Services Corp. announced the appointment of Richard J. Salute, CPA, as an independent director to Newtek's board of directors effective immediately. A veteran accounting and audit executive, with over 40 years' of experience, Mr. Salute will replace David Beck on the Board and will serve as Chairman of the Audit Committee. Mr. Beck is retiring at the age of 72 after 12 years of service on Newtek's Board. Mr. Salute served as a Managing Partner of the Long Island office of CohnReznick, where he was the Capital Markets and SEC Practice Director until his retirement in April of 2012.

Newtek Business Services Corp. Appoints Michael Campbell as Chief Credit Officer and Chief Risk Officer for Newtek Merchant Solutions

Newtek Business Services Corp. has appointed Michael Campbell as chief credit officer and chief risk officer for Newtek merchant solutions. Mr. Campbell has 25 years of experience in merchant bankcard operations including credit and risk management, bankcard credit, risk management policy, fraud, regulatory, data security and portfolio management. Most recently, Mr. Campbell was the vice president and Head of Risk for Charge Payment Merchant Services where he managed all phases of the operation with direct management of all credit, risk, policy, regulatory and operational matters. Prior to that, he was a senior risk consultant at The Strawhacker Group where he was the business leader for all acquiring and issuing risk projects providing guidance to investors, issuers and acquirers with respect to portfolio quality and best practices for credit, risk, policy, regulatory, excessive chargebacks, PCI and Europay, MasterCard and Visa matters.


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Price/Sales 1.0x
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