SOUTHFIELD, Mich., April 7, 2010 (GLOBE NEWSWIRE) -- The General Motors Minority Dealers Association (GMMDA) has announced a new partnership with Newtek Business Services, Inc. (Nasdaq:NEWT), to provide a variety of Ecommerce products and services to its membership. Newtek is a former member of the GMMDA Preferred Vendor Partner Program and has once again sought out the invaluable opportunity to be affiliated with the "premier minority dealers association in the industry" and assist the GMMDA members in maintaining profitable and successful dealership operations with its services and solutions.
Newtek is one of the premier providers of business services and financial products to small and medium-sized businesses throughout the United States. Since 1999, Newtek has helped business owners realize their potential by providing them with the essential tools they need to manage and grow their business. Newtek's suite of business solutions provides business owners with the high-quality services and top-level customer care that have traditionally only been afforded by larger companies. Newtek's services and solutions offered include: electronic payment processing, business lending, Ecommerce, merchant cash advance, accounts receivables financing, insurance services, web hosting, design and development, data storage and payroll services. Newtek is also a preferred lender under the national SBA 7(a) loan program.
"We are very excited that Newtek has decided to rejoin our association as one of our premier vendor partners. The invaluable menu of services they offer to small businesses is guaranteed to assist our members with managing and growing their dealership operations at great levels," said GMMDA president Henry Ware. "In today's auto industry, it is extremely important to be connected to businesses and partners that provide various levels of small business lending, insurance services and other critical business solutions. It is great to know that Newtek will have a personal relationship with all of our members to help them succeed in today's competitive marketplace." The full suite of services for GMMDA can be found at www.newtekreferrals.com/site/394.
Barry Sloane, CEO and Chairman for Newtek remarked, "We are extremely proud to be resuming our long-standing relationship with the GMMDA. Auto dealers across the U.S. need expertise and assurance in the areas of finance, technology solutions, Ecommerce, payment processing and expenditures and, as The Small Business Authority, we can improve the bottom-line of auto dealers and enhance their businesses in a multitude of ways."
For interviews with Barry Sloane, CEO and Chairman for Newtek Business Services Inc., please call (212) 843-8073 or email amazur@rubensteinpr.com.
About The General Motors Minority Dealers Association
The GMMDA is a 506 (c) (6) non-profit membership organization that represents the interest of over 200 minority-owned General Motors dealerships across the country. The mission of the GMMDA is to promote, protect and encourage the viability and profitability of all existing General Motors minority dealers and to encourage, through cooperative efforts with General Motors, the installation of new minority dealers in viable and profitable opportunities. To learn more about the GMMDA, log on to www.gmmda.org.
About Newtek Business Services, Inc.
Newtek Business Services, Inc. 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(TM) 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 one or more of its services to over 100,000 business accounts and has positioned the Newtek(TM) brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 29.6 million small businesses in the United States, which in total represent 99.7% of all employer firms. To learn more about Newtek Business Services, log to www.newtekbusinessservices.com
Newtek's business service lines include:
- 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.
- Web Hosting: Full-service web host which offers Ecommerce solutions, shared and dedicated web hosting and related services including domain registration and online shopping cart tools.
- 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.
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.