NEW YORK, Jan. 14, 2013 /PRNewswire/ -- IBERIABANK, with 184 bank branch offices in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida and $12.5 billion in assets, has agreed to partner with Newtek Business Services, Inc., NASDAQ: NEWT, The Small Business Authority. The goal is to finance independently-owned and operated businesses in these six states with small business loans that range from $50,000 to $5 million to continue to help the U.S. economy grow and create jobs.IBERIABANK, founded in 1887, is the largest bank holding company headquartered in Louisiana and employs more than 2,500 professionals.
President and CEO, Barry Sloane said, "We are thrilled to be partnering with IBERIABANK and we are appreciative that Iberia recognizes that our specialized small business loan products are a natural fit for their customer base. Newtek is the largest, non-bank government guaranteed lender in the United States offering a suite of loan products specifically designed for small businesses with loan amounts ranging from $50,000 to $5,000,000 and amortization schedules that extend out as far as 25 years. We look forward to working with IBERIABANK in all of the states in which they have a presence.
Robert Kottler, Executive Vice President and Director of Retail and Small Business, said, "We are excited to work with Newtek Business Services as they integrate some of their specific loan products into our existing robust menu of banking products for the small and medium sized business owners we serve in Louisiana, Arkansas, Tennessee, Alabama, Texas and Florida."
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority, provides the following products and services:
- 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 through our lending subsidiary, Newtek Small Business Finance, Inc. All government guaranteed loans are made by Newtek Small Business Finance.
- 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.
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. 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.
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.
Newtek Business Services, Inc.
212 West 35th Street
New York, NY 10001
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SOURCE Newtek Business Services, Inc.