Newtek Business Services Inc. (NEWT, Financial) filed Annual Report for the period ended 2010-12-31.
Newtek Business Services Inc. has a market cap of $63.2 million; its shares were traded at around $1.72 with a P/E ratio of 86 and P/S ratio of 0.6.
We originate loans ranging from $50,000 to $5.0 million to both startup and existing businesses, who use the funds for a wide range of business needs including:
We also offer accounts receivable financing and management services through CDS Business Services, Inc. d/b/a Newtek Business Credit (NBC). Through this service, small- and medium-sized businesses can obtain $10,000 to $1,000,000 per month through the sale of their trade receivables as well as back office services such as billing and cash collections.
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Newtek Business Services Inc. has a market cap of $63.2 million; its shares were traded at around $1.72 with a P/E ratio of 86 and P/S ratio of 0.6.
Highlight of Business Operations:
Newtek Merchant Solutions (NMS) markets credit and debit card processing services, check approval services and ancillary processing equipment and software to merchants who accept credit cards, debit cards, checks and other non-cash forms of payment. New merchants are acquired through several sales channels. Our primary focus is on developing new merchant sales leads as a result of internal sales efforts and our direct marketing under The Small Business Authority brand. NMS has targeted the marketing of its array of services under agreements with alliance partners, which are principally financial institutions, including banks, credit unions and other related businesses that are able to refer potential customers to NMS through Newteks NewTracker referral system. In addition, we enter into agreements with independent sales agents throughout the country. These referring organizations and associations are typically paid a percentage of the processing revenue derived from the respective merchants that they successfully refer to us. In 2010, we processed over 35.5 million transactions with a merchant sales volume exceeding $3.6 billion including merchant portfolios operated by our other subsidiaries which are serviced by NMS. Our customer base and the related sales volume processed by us has grown significantly during each year of operations since 2002 through a combination of organic growth in customers as well as selective merchant portfolio acquisitions. Our merchant base has grown from approximately 1,200 merchants at the end of 2002 to approximately 15,000 merchants at the end of 2010. Similarly, total sales volume in 2010 exceeded $3.6 billion, up from $38.4 million in 2002.We originate loans ranging from $50,000 to $5.0 million to both startup and existing businesses, who use the funds for a wide range of business needs including:
We also offer accounts receivable financing and management services through CDS Business Services, Inc. d/b/a Newtek Business Credit (NBC). Through this service, small- and medium-sized businesses can obtain $10,000 to $1,000,000 per month through the sale of their trade receivables as well as back office services such as billing and cash collections.
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