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TWST: Would you give us a brief historical sketch of the company and a picture
of the things you are doing at the present time?
Mr. Sloane: The company was founded as a private entity in January 1998 and it
went public through a reverse merger in September 2000. The company's initial
focus was to participate in state-subsidized funding programs known as CAPCOs
(certified capital companies). Newtek participated from 1998 to 2005 in
operating and creating 16 certified capital companies, which raised over $220
million of funding, and we deployed those monies into various different
businesses. Approximately three and a half years ago, the company changed its
focus from primarily being focused on CAPCOs to using the funds from CAPCOs to
own and operate a business platform that provides business services and
financial services to the small to medium sized business market. TWST: What are some of the services that you provide?
Mr. Sloane: The services that we provide to the SMB market are things such as
small business lending (we are a direct SBA lender); electronic payment
processing, giving small businesses the ability to take Visa, MasterCard,
Discover, check guarantee, and American Express; data storage; a full fleet of
small business insurance services; digital bookkeeping; business plan; Web
hosting; and Web design.
Tickers included in this excerpt: NEWT
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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