NewtekOne, Inc. Stock Price, News & Analysis

Newtek Business Services Corp (Nasdaq: NEWT) announced the addition of two senior executives to its portfolio company, Newtek Merchant Solutions. Andrew Jadatz joins as Senior Vice President of Product Development, bringing over 30 years of experience in merchant services, previously at Bank of America. Shawn Ecksel has been appointed as Senior Vice President of Business Development, boasting 15 years in sales and product development, most recently at USPAY Group LLC. CEO Barry Sloane emphasized the importance of leadership in enhancing NMS's market position amidst a competitive landscape.

Newtek Business Services Corp (Nasdaq: NEWT) has announced that its subsidiary, Newtek Small Business Finance, received early access to the Paycheck Protection Program (PPP) loan portal. Starting January 15, 2021, the Small Business Administration (SBA) reopened the portal for lenders with $1 billion or less in assets to submit first- and second-draw PPP loan applications. Newtek emphasizes its enhanced lending platform and technology improvements, positioning itself to provide priority service for independent businesses seeking PPP loans.

Newtek Business Services Corp. (NASDAQ: NEWT) has announced the pricing of a public offering of $100 million in 5.50% Notes due 2026. The Notes, maturing on February 1, 2026, can be redeemed at Newtek's discretion starting February 1, 2022. The company intends to use proceeds for investments in debt and equity securities, and to reduce outstanding 6.25% Notes due March 2023. An additional $15 million may be purchased by underwriters to cover overallotments. The offering is subject to customary closing conditions, and notes are expected to be listed on Nasdaq under symbol 'NEWTZ.'

Newtek Business Services Corp. (NASDAQ: NEWT) has announced the pricing of its $100 million public offering of 5.50% Notes due 2026, a record for publicly traded baby bonds. The offering was rated BBB+ and received strong institutional demand. The net proceeds will be used to fund investments in debt and equity securities and to repay certain outstanding debts, including 6.25% Notes due 2023. Newtek is optimistic about growth in 2021, focusing on various lending programs and experiencing strong interest in PPP loans.

Newtek Business Services Corp. (Nasdaq: NEWT) announced that its subsidiary, Newtek Small Business Finance, is ready to offer the second draw of the Paycheck Protection Program (PPP), starting January 11, 2021. This initiative, part of the $284 billion program authorized by Congress, allows businesses to apply for loans of up to $2 million, contingent on demonstrating a revenue decline of 25% or more in 2020 compared to 2019. In the previous year, Newtek funded $1.19 billion in PPP loans.

Newtek Business Services Corp (Nasdaq: NEWT) has launched its website for Newtek Payment Systems (NPS), a cloud-based point-of-sale solution designed for small to medium-sized businesses. NPS, which Newtek acquired a 51% interest in, integrates payment processing, inventory, customer management, payroll services, and more. CEO Barry Sloane will host a webinar on December 21, 2020, to demonstrate NPS's functionalities. The service aims to compete with existing solutions like Square and Toast while offering unique branding opportunities for partners. More details can be found on the NPS website.

Newtek Business Services Corp (Nasdaq: NEWT) has made available a replay of a webinar focused on cloud-computing technology. The session, held on December 8, 2020, featured insights from CEO Barry Sloane and other experts on how small- and medium-sized businesses can enhance their IT through secure private clouds. Topics included ecommerce solutions, managed IT services, and private cloud advantages. This initiative highlights Newtek’s commitment to helping SMBs thrive in a competitive landscape.

Newtek Business Services Corp (Nasdaq: NEWT) announces a webinar on December 8, 2020, at 3 PM EST, led by CEO Barry Sloane and experts from Newtek Technology Solutions. The session will focus on navigating cloud-computing technology for small- and medium-sized businesses (SMBs). Key topics include managing IT in a secure private cloud, eCommerce solutions, and managed IT services for security. Participants can register online to learn how to enhance their business operations with innovative technology solutions.

Newtek Business Services Corp (NASDAQ: NEWT) announced a fourth quarter 2020 cash dividend of $0.47 per share, payable on December 30, 2020 to shareholders of record as of December 18, 2020. This dividend increases the total dividends paid in 2020 to $2.05 per share. The company aims to maintain a policy of quarterly distributions approximating 90-100% of its annual taxable income, though the amount remains at the discretion of the Board of Directors.