Small Business Economy Lacks Confidence Needed For Growth

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Oct 01, 2014, 09:34 ET

NEW YORK, Oct. 1, 2014 /PRNewswire/ -- Newtek Business Services, Inc. NASDAQ: NEWT, The Small Business Authority^®, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 1,300 respondents, the key finding from the September survey is 93% of business owners have not been denied access to a traditional bank loan. Additionally, 89% of business owners do not need capital to expand, advertise, or purchase inventory.

The full September 2014 results showed the following:

Poll Question	Poll Answer	Percentage
Has your company been denied access to a traditional bank loan?	Yes	7%
	No	93%
Does your business need capital to expand, advertise or purchase inventory?	Yes	11%
	No	89%

Barry Sloane, Chairman, President and CEO of The Small Business Authority^® commented, "Over the course of the life of their business, most clients need to borrow money very few times – so the majority response to our first question is not totally surprising. However, when we asked the second question about needing capital for growth, it is somewhat surprising as it depicts a business environment ‎that is still lacking the confidence and the will to borrow and be forward thinking about a robust economy or satisfying additional demand for their products. Hopefully, for the small business owner and the economy, this will change in the near future."

About Newtek Business Services, Inc.

Newtek Business Services, Inc., The Small Business Authority^®, is the Authority for the small- and medium-sized business (SMB) market providing a wide range of business services and financial products under the Newtek^® brand. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 business accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.

Newtek's products and services include: The Newtek Advantage^™, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Business Lending, Insurance Services, Web Services, Data Backup, Storage and Retrieval, Accounts Receivable Financing, Payroll.

The Small Business Authority^®is a registered trade mark of Newtek Business Services, Inc., and neither are a part of or endorsed by the U.S. Small Business Administration.

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.
http://www.thesba.com
Contact: Simrita Singh
Telephone: (212) 356-9566 / ssingh@thesba.com
Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / [email protected]
Contact: Brett Maas
Telephone: (646) 536-7331 / [email protected]