Trade NewtekOne Inc - NEWT CFD

Newtek Company profile

About NEWTEK Business Services Corp

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company's investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls. The Company owns and controls certain portfolio companies under the Newtek brand that provides a range of business and financial solutions to small and medium-sized businesses (SMB). Its products and services include Business Lending including the United States Small Business Administration (SBA), Electronic Payment Processing, Managed Technology Solutions, Data Backup, Technology Consulting, eCommerce, Accounts Receivable and Inventory Financing, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll and Benefits Solutions to SMB accounts nationwide across all industries.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, NEWTEK Business Services Corp revenues increased 55% to $160.3M. Net income increased from $33.6M to $84.1M. Revenues reflect Realized G/L-Invest Sec AFS/HTM-Business increase from $11.4M to $53.1M, Interest income - PPP loans increase of 32% to $50M, Other income increase from $2.7M to $5.7M. Net income benefited from Net unrealized appreciation on controlle increase from $8.2M (expense) to $2.8M (income).

Equity composition

Common Stock $.02 Par, 12/10, 54M auth., 36,701,000 issd., less 1,035,000 shs. in Treas. @ $ 663K. Insiders own 26.09%. PO 12/10, 6M shares @ $3.60 by RothCapital Partners. 9/20/00, 2,467,576 shares issued in reverse acquisition with REXX Environmental Corp. 10/14, 1-for-5 Reverse Stock split.