Newtek Small Business Finance started accessing the Paycheck Protection Program Loan Portal today
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BOCA RATON, Fla., January 15, 2021 (GLOBE NEWSWIRE) – Newtek Business Services Corp., (Nasdaq: TRITON), an internally managed business development company (“BDC”), today announced that Newtek Small Business Finance, LLC (“NSBF”), the Company’s nationally approved Section 7 lender (a) from the US Small Business Administration (“SBA”) Program, has been granted early access to the Paycheck Protection Program (“PPP”) loan portal effective today. As of 9:00 a.m.ET this morning, the SBA reopened the PPP loan portal to PPP-eligible lenders with $ 1.0 billion in assets or less, including community banks and credit unions, for first and second draw PPP loan applications. The PPP loan portal will be fully open on Tuesday, January 19, 2021 to all other participating PPP lenders to submit first and second draw PPP loan requests.
Barry Sloane, President, President and CEO, said, “We greatly appreciate the opportunity to serve independent business owners across the United States, and we are currently submitting applications for both first and second PPP loans. second SBA draw on behalf of our clients. We appreciate the SBA’s designation of NSBF in the First Group of Lenders, which will help our borrowers have priority in receiving their SBA Loan Numbers (E-Tran). We believe we started 2021 in a strong position, as we have made significant improvements to our lending platform since 2020, including software, technology and operational processes, and we believe these improvements leave us well. positioned to deliver strong results.
Mr. Sloane concluded, “For businesses looking for first and second draw PPP loans, please visit our website at https://www.newtekone.com for more details on the PPP loan program, or contact us at 1-855-763-9835, and one of our loan specialists will help you. “
About Newtek Business Services Corp.
Newtek Business Services Corp., Your business solutions company®, is an internally managed BDC, which, together with its controlled holding companies, offers a wide range of business and financial solutions under the Newtek® brand to the small and medium-sized enterprise (“SME”) market. Since 1999, Newtek has provided cutting-edge, cost-effective products and services as well as effective business strategies to SMB relationships in all 50 states to help them grow sales, control expenses and reduce risk.
The products and services of Newtek and its portfolio companies include: Business Loans, SBA Loan Solutions, Electronic payment processing, Technological solutions (Cloud Computing, Data backup, storage and recovery, IT consultancy), e-commerce, Accounts receivable financing and inventory financing, Insurance solutions, Web services, and Payroll Solutions and Benefits.
Note regarding forward-looking statements
This press release contains certain forward-looking statements. Words such as “believes”, “intends”, “expects”, “plans”, “anticipates”, “foresees”, “objective” 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 or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, increased competition, operational issues and their impact on revenues and profit margins, future business strategies and expected financial performance, anticipated future number of customers, business prospects, legislative developments and similar issues. The risk factors, cautions and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in the documents filed by Newtek 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 such statements.
SOURCE: Newtek Business Services Corp.
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Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / [email protected]