More Than 90 CUs Now Partnered with Newtek Business Services

NEW YORK – Newtek Business Services, Inc. recently announced that it has now partnered with more than 90 credit unions. Newtek Business Services, supported by its affiliates Newtek Small Business Finance and Newtek Merchant Solutions, provides turn-key SBA lending and electronic payment processing services. It has an alliance with CUNA to provide services for credit union members who own small to medium-sized businesses. Barry Sloane, Chairman and CEO of Newtek said the company “is dedicated to helping credit unions enter and stay competitive in the rapidly growing business lending and merchant processing segments, two areas that are of utmost importance to the business owner.” Netwek’s lending program includes loan underwriting, funding, participation, servicing and liquidation for SBA 7 (a) loans. The electronic payment processing program enables credit unions to offer their members credit and debit card acceptance and other payment solutions, including check conversion and guarantee and gift card programs.