Newtek Business Services Corp. Provides Comment on Banc-Serv Partners LLC
October 13 2017 - 08:00AM
Newtek Business Services Corp. (“Newtek”) (NASDAQ:NEWT), an
internally managed business development company, announced that its
portfolio company, ADR Partners LLC dba banc-serv Partners LLC
(“banc-serv”), was served with a search warrant by the FBI
yesterday at banc-serv offices in Westfield, Indiana. Newtek
closed on its $5.4 million investment in banc-serv in June
2016. Newtek is monitoring the situation and is cooperating
fully with the authorities. Banc-serv will be open for
business today.
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.
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,
The Secure Gateway, The Newtek Advantage™, 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
Statements
This 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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