Newtek Small Business Lending Hires James DeSantis as Director of Credit Operations
May 29 2019 - 2:33PM
Newtek Business Services Corp., (NASDAQ: NEWT), an internally
managed business development company (“BDC”), today announced that
its portfolio company Newtek Small Business Lending has recruited
and hired Mr. James DeSantis as Director of Credit Operations. Mr.
DeSantis comes to Newtek Small Business Lending with an extensive
background in credit underwriting, portfolio management, and
lending operations. As Director of Credit Operations, Mr. DeSantis
will report to Peter Downs, Chief Lending Officer, and will be
responsible for supervising all aspects of credit and credit
underwriting across Newtek’s various lending programs. Prior
to joining Newtek, Mr. DeSantis was Chief Credit Officer and Vice
President at The Credit Junction Inc. Prior to The Credit Junction,
Mr. DeSantis spent 14 years as a distinguished executive at GE
Commercial Finance most recently as Senior Vice President,
Portfolio and Underwriting Corporate Lending Group. Prior to GE,
Mr. DeSantis held positions at Congress Financial Corporation, Bank
of America Business Credit/Security Pacific and Citicorp.
Industrial Credit.
Barry Sloane, Chief Executive Officer, said, “As
we are growing our BDC and portfolio company lending programs – SBA
7(a), SBA 504, non-conforming conventional loans and receivables
and inventory financing - adding the talent and experience of James
DeSantis as an overall supervisor of credit and managing the
underwriting teams will significantly enhance our lending
operations and attention to credit detail. We are fortunate to be
able to pick up someone with over 30 years’ experience working for
top lending organizations in the U.S. with a focus on middle-market
and small- to medium-sized business credit. James DeSantis is now
the third recent executive that comes to Newtek and its portfolio
companies with a GE Commercial Finance pedigree and history.”
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 and financial
solutions 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 over 100,000 SMB relationships
across all 50 states to help them grow their sales, control their
expenses and reduce their risk.
Newtek’s and its portfolio companies’ products and services
include: Business Lending, SBA Lending Solutions, Electronic
Payment Processing, Technology Solutions (Cloud Computing,
Data Backup, Storage and Retrieval, IT Consulting), eCommerce,
Accounts Receivable Financing & Inventory
Financing, Insurance Solutions, Web Services, and Payroll and
Benefits Solutions.
Newtek® and Your Business Solutions Company®,
are registered trademarks of Newtek Business Services Corp.
Note Regarding Forward Looking
StatementsThis press release contains certain
forward-looking statements. Words such as “believes,” “intends,”
“expects,” “projects,” “anticipates,” “forecasts,” “goal” 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 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 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 these statements.
SOURCE: Newtek Business Services Corp.
Investor Relations & Public
RelationsContact: Jayne Cavuoto Telephone: (212) 273-8179
/ jcavuoto@newtekone.com
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