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Newtek Business Services Corp.’s Portfolio Company Hires Michael Breier as Vice President, ISO/Agent Sales Channel of Newtek Merchant Solutions

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Fifth Senior Management Addition to Newtek Merchant Solutions in 2021

BOCA RATON, Fla., June 28, 2021 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Mr. Michael Breier has joined Newtek Merchant Solutions (“NMS”), one of Newtek’s payment processing portfolio companies, as Vice President, Independent Sales Organization (“ISO”)/Agent Development.

Mr. Breier comes to NMS with over 15 years’ experience in the merchant services industry, with an extensive background in ISO management, business development and risk management. Most recently, Mr. Breier was Vice President, Business Development at Priority Payment Systems. Prior to Priority Payment Systems, Mr. Breier was Director, Risk Management at Cynergy Data. Earlier in his career, he held portfolio management positions at First Data Corporation.

Mr. Breier is the fifth senior management addition to NMS since the beginning of 2021. Previous additions to NMS include Mr. David Simon as Chief Operating Officer, Mr. Andrew Jadatz as Senior Vice President of Product Development, Mr. Shawn Ecksel as Senior Vice President of Business Development, and Mr. James Corcoran as Vice President of Operations.

Barry Sloane, President, Chairman and CEO of Newtek, said, “We are pleased to have added yet another great talent to our senior management team at NMS, especially in such a competitive environment. As we look forward to further developing NMS’ ISO Merchant Services Agent Program, we have enhanced our leadership team to continuously improve this important sales channel. Mr. Breier, with his vast experience at Priority Payment Systems, Cynergy Data and First Data, is passionate about assisting our alliance partners in growing our referral program. We expect that with his depth and breadth of experience, Michael will ensure that NMS’ ISO/Agent channel partnership will strive to be best in class as the industry grows and changes. It remains our belief, that Newtek and its portfolio companies possess the correct strategy, product mix and method to outperform its competition in the days, weeks and quarters ahead.”

About Newtek Business Services Corp.

Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.

Newtek’s and its portfolio companies’ products and services 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 Benefits Solutions.

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

Note Regarding Forward Looking Statements

This press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” “forecasts,” “goal” and “future” or similar expressions are intended to identify forward-looking statements. 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 cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.

SOURCE: Newtek Business Services Corp.

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