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Newtek Recession Special for Small Business Owners: Free Trial of Payroll Services to Small Business Owners

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NEW YORK, Oct. 26, 2011 /PRNewswire/ — Newtek Business Services, NASDAQ: NEWT, The Small Business Authority, announced today their special offer of 3 – 6 months of risk FREE payroll processing trial to assist small business owners in this tough economy. The Newtek online payroll solution is not just an online calculator similar to those provided by banks. We are committed to giving small businesses an accurate, full-scale payroll service that includes tax management, an HR module, employee self-service and workers compensation insurance pay-as-you-go. http://www.thesba.com/payroll-services/. Each business will be provided with a single customer service representative who will ensure that the business owner remains in control but will assist in any questions or issues that a business may have.

President and CEO Barry Sloane said, “We realize the economy has been exceptionally difficult for independent, small- to medium-sized business owners. We have over 100,000 business accounts that annually we provide with a variety of services. We welcome the opportunity at this time of the year, when businesses should be contemplating switching over to an outside payroll provider or changing their service away from ADP or Paychex to a more cost effective, state of the art solution. We guarantee that we will be at least 20 percent less than your current ADP or Paychex payroll services. At the same time, we will be able to evaluate and price workers’ compensation insurance as well as health and benefits. As The Small Business Authority, our 50 state licensed insurance agency, which specializes in insurance products tailored to small- and medium-sized businesses, will be able to offer each business exactly the right coverage at the right price.”

Restrictions may apply to the special offer, so to find out more and to get started contact 855-284-3722 or visit http://www.thesba.com/payroll-services/.

About Newtek Business Services, Inc.

Newtek Business Services, The Small Business Authority, provides the following products and services:

* Electronic Payment Processing : eCommerce, electronic solutions to accept non-cash payments, including credit and debit cards, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs.
* Managed Technology Solutions (Cloud Computing): Full-service web host, which offers eCommerce solutions, shared and dedicated web hosting and related services including domain registration and online shopping cart tools.
* eCommerce : A suite of services that enable small businesses to get up and running on-line quickly and cost effectively, with integrated web design, payment processing and shopping cart services.
* Business Lending : Broad array of lending products including SBA 7(a) and SBA 504 loans.
* Insurance Services : Commercial and personal lines of insurance, including health and employee benefits in all 50 states, working with over 40 insurance carriers.
* Web Services : Customized web design and development services.
* Data Backup, Storage and Retrieval : Fast, secure, off-site data backup, storage and retrieval designed to meet the specific regulatory and compliance needs of any business.
* Accounts Receivable Financing : Receivable purchasing and financing services.
* Payroll : Complete payroll management and processing services.

Newtek Business Services, Inc., The Small Business Authority , is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek™ brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today’s marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the Newtek™ brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.

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 .

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