Newtek Small Business Finance Maintains Position as Largest Non-Bank SBA 7(a) Lender

Ranked #7 Among All Bank and Non-Bank SBA 7(a) Lenders

LAKE SUCCESS, N.Y., Oct. 10, 2017 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. ("Newtek" or the "Company") (NASDAQ:NEWT), an internally managed business development company ("BDC"), today announced that its wholly owned subsidiary Newtek Small Business Finance, LLC ("NSBF") maintained its position as the largest non-bank SBA 7(a) lender by dollar volume of approved loans for the 12-month period ended September 30, 2017, according to the U.S. Small Business Administration. NSBF also ranked #7 as most active SBA 7(a) lender by dollar volume of approved loans among all banks and non-banks for the same period.

Barry Sloane, Chairman, President and Chief Executive Officer said, "We are proud that NSBF has maintained its position as the largest non-bank SBA 7(a) lender and has been ranked #7 of all bank and non-bank SBA 7(a) lenders, which we believe is testament to NSBF's dedication to ongoing technological improvements to streamline the lending process, enabling NSBF to grow origination volume while maintaining focus on the credit quality of the loans it originates."

Mr. Sloane continued, "The market has continued to recognize and reward the quality of NSBF' loan originations. In the second quarter of 2017, Standard & Poors ("S&P") Global Ratings announced that it raised its rating on the  SBA 7(a) loan securitization Class A Notes issued by Newtek Small Business Loan Trust 2014-1, from A to A+.  Furthermore, NSBF increased its existing revolving credit facility through Capital One, National Association, by $50.0 million to $100.0 million, and received an over 100 basis point reduction in the interest rates to fund SBA 7(a) loans.  Additionally, we continue to garner demand from the investment community for our loan products through our securitization program. To date, NSBF has completed seven securitizations, with the seventh being the largest securitization resulting in the issuance and sale of $53.4 million of notes, rated by S&P. It is our full intention to continue to leverage our superior cutting-edge lending technology to further expand our lending capabilities and in turn our loan origination volume."

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 services and financial products 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 accounts across all 50 states to help them grow their sales, control their expenses and reduce their risk.