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Newtek Business Services Corp. (NEWT)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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27.72-0.73 (-2.57%)
As of 1:33PM EDT. Market open.

Newtek Business Services Corp.

4800 T-Rex Avenue
Suite 120
Boca Raton, FL 33431
United States
212-356-9500
http://www.newtekone.com

Sector(s)Financial Services
IndustryAsset Management
Full Time Employees110

Key Executives

NameTitlePayExercisedYear Born
Mr. Barry Scott SloaneChairman, Pres & CEO1.4MN/A1960
Mr. Michael Adam SchwartzChief Legal Officer, Chief Compliance Officer & Sec.535kN/A1961
Mr. Peter Mathison DownsChief Lending Officer & Director616.67kN/A1965
Ms. Elise Chamberlain C.F.A., CPAExec. VP of Financial Reporting & Fin.N/AN/AN/A
Mr. Brent Michael CiurlinoSr. VP of Risk & OperationsN/AN/A1959
Mr. Nicholas J. LegerChief Accounting OfficerN/AN/A1981
Ms. Jayne L. Cavuoto-KrafchikDirector of Investor RelationsN/AN/AN/A
Mr. Brian O. MoonTreasurer & Sr. VP of Corp. Devel.N/AN/AN/A
Mr. Timothy C. IhlefeldExec. VP of Strategic Alliances and Chief Sales OfficerN/AN/AN/A
Mr. Albert SpadaExec. VP of Small Bus. LendingN/AN/AN/A
Amounts are as of December 31, 2019 and compensation values are for the last fiscal year ending on that date. Pay is salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.

Description

Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments. Under debt investments, it focuses on first lien loans, which have terms of 1 to 25 years; second lien loans, which have terms of 5 to 25 years, and unsecured loans, which are provided to meet short-term funding needs and are repaid within 6 to 12 months. It operates through Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, 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 management services. Its electronic payment processing services include credit and debit card processing, check approval, ancillary processing equipment and software to merchants, eCommerce, electronic solutions to accept non-cash payments, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs. The company also provides Website hosting, 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; Accounts Receivable Financing, and The Secure Gateway. 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 firm seeks to invest in New York and Louisiana area. The firm seeks to invest $0.3 million to $3 million in businesses. It provides small business terms loans ranging from $0.05 million to $10 million. The firm also provides account receivable financing ranging from $0.05 million to $1.5 million. It also provides $0.05 million to $10 million financing to owner occupied real estate businesses whose average net income over the last 2 years must not exceed $2.5 million. Newtek Business Services Corp., formerly known as Newtek Business Services Inc., was incorporated on August 26, 2013 and is headquartered in Boca Raton, Florida with additional offices in Lake Success, New York, Garden City, New York; Miami, Florida; Milwaukee, Wisconsin; New Orleans, Louisiana; and New York, New York.

Corporate Governance

Newtek Business Services Corp.’s ISS Governance QualityScore as of N/A is N/A. The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk.