NewtekOne, Inc. Launches Newtek Accounting
November 29 2023 - 8:30AM
NewtekOne, Inc. (the “Company” or “NewtekOne”) (NASDAQ: NEWT),
announced today that it has partnered with 1-800Accountant
(https://1800accountant.com/), America’s leading virtual accounting
firm for small businesses, for NewtekOne to offer 1-800Accountant’s
accounting services to NewtekOne’s independent business owner
clients and referral partners via “Newtek Accounting”
(newtekaccounting.com). Through Newtek Accounting, NewtekOne's
clients will have access to 1-800Accountant’s suite of professional
accounting services, which is powered by both a mix of technology
and CPAs with an average of 17 years of experience. This product
offering will enable NewtekOne to augment its already broad suite
of business and finance solutions and offer its clients digital
bookkeeping, personalized accounting solutions, and tax advisory
services underscored by access to experts to assist them with their
business’ accounting and tax needs, while simultaneously allowing
them more time to focus on growing their business.
Barry Sloane, Chairman, President and Chief Executive Officer
commented, “We are pleased to offer digital bookkeeping,
accounting, and tax advisory services through Newtek Accounting. We
have partnered with 1-800Accountant because we believe that over
the last decade or more, 1-800Accountant has demonstrated an
efficient and high-quality capability in providing accounting
solutions to independent business owners across America. We believe
the NewtekOne core client -- the independent business owner – has a
need for these types of services. In the near future, we will look
to integrate the Newtek Accounting offering with Newtek Bank’s
online banking, as well as our payment processing and payroll
functionalities, which will give our business clientele, going
through the Newtek Advantage®, a complete, real-time dashboard, and
provide true value to our clients rather than what traditional
banks provide. We view the product offerings of traditional banks
for the independent business owner as primarily limited to the
simple concept of taking deposits, with the client hoping they will
be able to obtain a loan if they need additional capital. However,
Newtek Bank is not a traditional bank. We believe that the Newtek
Accounting offering is a great step to being able to deliver the
ultimate banking solution that Newtek Bank currently has in full
flight through the Newtek Advantage. We are excited about our new
partnership and even more excited to make 1-800Accountant’s
cost-effective accounting solutions and services available to our
existing and new clientele via Newtek Accounting.”
According to Brendon Pack, CEO of 1-800Accountant, "This
exciting partnership enables our team to help more businesses than
ever before with services that move the needle. On average, we save
small businesses, the backbone of America, annually between 20% and
50% on accounting services, and look forward to seeing what they do
with more of their hard-earned money at their disposal."
About NewtekOne, Inc.
NewtekOne®, Your Business Solutions Company®, is a financial
holding company, which along with its bank and non-bank
consolidated subsidiaries (collectively, “NewtekOne”), provides a
wide range of business and financial solutions under the Newtek®
brand to the small- and medium-sized business (“SMB”)
market. Since 1999, NewtekOne has provided state-of-the-art,
cost-efficient products and services and efficient business
strategies to SMB relationships across all 50 states to help them
grow their sales, control their expenses and reduce their risk.
All accounting services are to be provided by 1-800Accountant.
1-800Accountant is not an affiliate of NewtekOne. NewtekOne does
not provide accounting or tax advice or service.
NewtekOne’s and its subsidiaries’ business and financial
solutions include: banking (Newtek Bank, N.A.), 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®, NewtekOne®, Newtek Bank, National
AssociationTM, Your Business Solutions Company® and One Solution
for All Your Business Needs® are registered trademarks of
NewtekOne, Inc.
About 1-800Accountant
1-800Accountant offers services for new and
experienced small business owners, with advisory support from
expert CPAs. Services are efficient, affordable, and can be used
individually or bundled together for maximum impact, empowering
owners to focus on growth throughout their business
journey. Learn more
at https://1800accountant.com/about.
Note Regarding Forward-Looking
Statements
Certain statements in this press release are
“forward-looking statements” within the meaning of the rules and
regulations of the Private Securities Litigation and Reform Act of
1995. These statements are based on management’s current
expectations and are subject to uncertainty and changes in
circumstances. These statements are not guarantees of future
results or occurrences. Actual results and capital and other
financial conditions may differ materially from those included in
these statements due to a variety of factors. Factors that could
cause NewtekOne, Inc’s actual results to differ materially from
those described in the forward-looking statements can be found in
NewtekOne, Inc.’s Annual Report on Form 10-K for the year ended
December 31, 2022, filed with the Securities and Exchange
Commission and are available on NewtekOne, Inc’s website
(https://investor.newtekbusinessservices.com/sec-filings), and on
the Securities and Exchange Commission’s website (www.sec.gov). Any
forward-looking statements made by or on behalf of NewtekOne, Inc.
speak only as to the date they are made, and NewtekOne, Inc. does
not undertake to update forward-looking statements to reflect the
impact of circumstances or events that arise after the date the
forward-looking statements were made.
SOURCE: NewtekOne, Inc.
Investor Relations & Public
RelationsContact: Jayne Cavuoto Telephone: (212) 273-8179
/ jcavuoto@newtekone.com
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