Newtek Business Services

Newtek Business Services Corp. is a non-diversified closed-end management investment company, which engages in the provision of business and financial solutions. Its products and services include business lending, electronic payment processing, managed technology solutions (cloud computing), technology consulting, ecommerce, accounts receivable, inventory financing, personal and commercial lines insurance services, web services, data backup, storage and retrieval, and payroll and benefits solutions to small-and-medium sized businesses (SMB) accounts nationwide across all industries. The company was founded by Barry Sloane in 1998 and is headquartered in New York, NY.

Earnings data Q4 2020

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NewtekOne, Inc. is a financial holding company, which engages in the provision of business and financial solutions. Its brands include Newtek Bank, Newtek Lending, Newtek Payments, Newtek Insurance, Newtek Payroll, and Newtek Technology. The company was founded by Barry Sloane in 1998 and is headquartered in Boca Raton, FL.

Newtek Business Services Corp. (NEWT) CEO Barry Sloane on Q3 2020 Results - Earnings Call Transcript

Newtek (NEWT) delivered earnings and revenue surprises of 33.33% and 8.10%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?

Newtek (NEWT) Q3 Earnings and Revenues Top Estimates

Shares of Newtek Business Services (NASDAQ:NEWT) were unchanged in after-market trading after the company reported Q3 results. Quarterly Results Earnings per share were down 93.65% year over year to $0.04, which missed the estimate of $0.06.

Newtek Business Services: Q3 Earnings Insights

BOCA RATON, Fla., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (“Newtek” or the “Company”) (Nasdaq: NEWT), an internally managed business development company (“BDC”), announced today its financial and operating results for the three and nine months ended September 30, 2020.

Newtek Business Services Corp. Reports Third Quarter 2020 Financial Results

Issues 2021 Annual Dividend Forecast in a Range of $2.00 to $2.50 per Share Issues 2021 Annual Dividend Forecast in a Range of $2.00 to $2.50 per Share

Newtek Business Services Corp. Revises 2020 Annual Dividend Forecast to a Range of $1.90 to $2.20 per Share

Newtek (NEWT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Newtek (NEWT) Q3 Earnings Expected to Decline

BOCA RATON, Fla., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek's CEO, Barry Sloane, and the experts from Newtek's Payroll and Benefits Solutions portfolio company, will host a webinar to discuss the future of payroll and benefits in a post-pandemic world on Wednesday, October 28, 2020 at 3:00 PM EDT. The webinar will discuss timely, important topics in the areas of payroll, tax, health insurance, benefits and human resource concerns brought about by the COVID-19 pandemic and the changing economic landscape that will follow in the post-pandemic world.

Newtek CEO, Barry Sloane, to Host Webinar to Discuss the Future of Payroll and Benefits in a Post-Pandemic World

BOCA RATON, Fla., Oct. 12, 2020 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that it will report its third quarter 2020 financial results after the market closes on Wednesday, November 4, 2020. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer, and Christopher Towers, Chief Accounting Officer, the following day, Thursday, November 5, 2020 at 8:30 am ET. The live conference call can be accessed by dialing (877) 303-6993 or (760) 666-3611.

Newtek Business Services Corp. to Report Third Quarter 2020 Financial Results on Wednesday, November 4, 2020 After the Market Closes

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Newtek Business Services has adapted nicely to the COVID-19 disruption by switching over from SBA 7(a) to PPP loans.

Newtek Business Services: An Agile Operation

The government's PPP loan program is a boon to NEWT.

Newtek Business Services: Government COVID-19 Programs Benefit This BDC, Yield 11%

BOCA RATON, Fla., Aug.  10, 2020  (GLOBE NEWSWIRE) --  Newtek Business Services Corp.  (“Newtek” or the “Company”) (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek CEO, Barry Sloane, has been invited to speak on the BDC panel at the Active Investment Company Alliance (“AICA”) Virtual Summer Summit on Thursday, August 13, 2020 at 3:00 PM ET. In addition to Newtek, the BDC panel will include chief executive officers from other internally managed BDCs including Main Street Capital, Hercules Capital, Inc., and Capital Southwest. Mr. Sloane will also host two virtual question-and-answer sessions that same day at 12:00 PM ET and 4:00PM ET. If you would like to attend the AICA Virtual Summer Summit, please contact Jayne Cavuoto, Director of Investor Relations at Newtek, at 212-273-8179 or  jcavuoto@newtekone.com  and she will arrange for your participation as Newtek’s guest.

Newtek Business Services Corp.’s CEO, Barry Sloane, Invited to Speak on BDC Panel at the Active Investment Company Alliance Virtual Summer Summit

Newtek Business Services' (NEWT) CEO Barry Sloane on Q2 2020 Results - Earnings Call Transcript

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BOCA RATON, Fla., July  20, 2020  (GLOBE NEWSWIRE) --  Newtek Business Services Corp ., (NASDAQ: NEWT), an internally managed business development company (“BDC”), today announced that its Board of Directors declared a third quarter 2020 cash dividend of $0.581 per share, which is payable on September 30, 2020 to shareholders of record as of September 21, 2020.  With the payment of the second quarter 2020 and third quarter 2020 dividends, the Company will have paid a total of $1.58 per share for the first three quarters of 2020, which would represent a 9.7% increase over the dividends paid in the first three quarters of 2019 of $1.44 per share.

Newtek Business Services Corp. Declares Third Quarter 2020 Dividend of $0.58 per Share

BOCA RATON, Fla., July  14, 2020  (GLOBE NEWSWIRE) --  Newtek Business Services Corp ., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small Business Finance, LLC (“NSBF”), the Company’s nationally licensed lender under the U.S. Small Business Administration (“SBA”) Section 7(a) Program, has funded approximately $1.125 billion of Paycheck Protection Program (“PPP”) loans of its total pipeline of $1.145 billion of PPP loans with SBA loan (E-Tran) numbers to date.  NSBF estimates that upwards of 130,000 employees could be retained by NSBF’s PPP borrowers if NSBF’s total potential funding of $1.145 billion of PPP loans is reached.  NSBF estimates it will fund in whole or part of its remaining $20 million of PPP loans with SBA loan (E-Tran) numbers.  The PPP program is still ongoing and NSBF expects to accept PPP loan applications through August 8, 2020.  As of Monday, July 6, 2020, there was in excess of $130 billion of appropriation remaining for PPP loans.

Newtek Small Business Finance Funded Approximately $1.125 Billion of Paycheck Protection Program (PPP) Loans To Date

BOCA RATON, Fla., July  13, 2020  (GLOBE NEWSWIRE) --  Newtek Business Services Corp ., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that it will report its second quarter 2020 financial results after the market closes on Wednesday, August 5, 2020.  A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer, and Christopher Towers, Chief Accounting Officer, the following day, Thursday, August 6, 2020 at 8:30 am ET.  The live conference call can be accessed by dialing (877) 303-6993 or (760) 666-3611.

Newtek Business Services Corp. to Report Second Quarter 2020 Financial Results on Wednesday, August 5, 2020 After the Market Closes

Is Newtek Business Services (NEWT) a great pick from the value investor's perspective right now? Read on to know more.

Should Value Investors Pick Newtek Business Services (NEWT)?

Will Begin Accepting SBA 7(a) Loan Applications on June 29, 2020 Will Begin Accepting SBA 7(a) Loan Applications on June 29, 2020

Newtek Small Business Finance Announces Restart of its SBA 7(a) Loan Program

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Forecasts Adjusted Net Investment Income in a Range of $1.30 per Share to $1.50 per Share for the Second Quarter of 2020 Forecasts Adjusted Net Investment Income in a Range of $1.30 per Share to $1.50 per Share for the Second Quarter of 2020

Newtek Business Services Corp. Declares Dividend of $0.56 per Share for the Second Quarter of 2020

BOCA RATON, Fla., June  12, 2020  (GLOBE NEWSWIRE) --  Newtek Business Services Corp ., (NASDAQ: NEWT), an internally managed business development company (“BDC”), today announced that its Board of Directors declared a second quarter 2020 cash dividend of $0.561 per share, which is payable on July 31, 2020 to shareholders of record as of July 15, 2020.  

Newtek Business Services Corp. Declares Second Quarter 2020 Dividend of $0.56 per Share

BOCA RATON, Fla., June  02, 2020  (GLOBE NEWSWIRE) --  Newtek Business Services Corp ., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small Business Finance, LLC (“NSBF”), the Company’s nationally licensed lender under the U.S. Small Business Administration (“SBA”) Section 7(a) Program, closed or funded approximately $1.0 billion of Paycheck Protection Program (“PPP”) loans of its total $1.15 billion of PPP loans with SBA loan (E-Tran) numbers to date.  NSBF estimates that upwards of 130,000 employees could be retained by NSBF’s PPP borrowers if NSBF’s total potential funding of $1.15 billion of PPP loans is reached. NSBF estimates it will fund in whole or part of its remaining $150 million of PPP loans with SBA loan (E-Tran) numbers.  The PPP program is still ongoing and NSBF is still accepting PPP loan applications as of the date of this release. As of Sunday, May 31, 2020, there was in excess of $100 billion of SBA 7(a) appropriation remaining for PPP loans and SBA 7(a) loans. As a result, the Company believes the gross amount of PPP loan approvals can increase or decrease from NSBF’s total estimated potential funding of $1.15 billion of PPP loans.  The Company’s previously announced funding partners, as well as other existing partners of Newtek, are providing NSBF with referrals and additional financing to originate PPP loans.

Newtek Small Business Finance Closed or Funded Approximately $1.0 Billion of Paycheck Protection Program (PPP) Loans To Date

Obtained SBA Loan (E-Tran) Numbers for $1.15 Billion of PPP Loans Obtained SBA Loan (E-Tran) Numbers for $1.15 Billion of PPP Loans

Newtek Small Business Finance Has Funded and Approved Approximately $700 Million of Paycheck Protection Program (PPP) Loans To Date

News for Newtek Business Services Stock (NEWT)