SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Date of Report (earliest event reported): February 24, 2004
NEWTEK BUSINESS SERVICES, INC.
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(Exact name of small business issuer as specified in its charter)
New York 001-16123 11-3504638
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(State or other jurisdiction of (Commission file (I.R.S. Employer
incorporation or organization) number) Identification No.)
100 Quentin Roosevelt Blvd., Garden City, NY 11530
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(Address of principal executive offices) (Zip Code)
Issuer's telephone number, including area code: (516) 390-2260
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Newtek Capital, Inc.
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(Former Name)
FORWARD-LOOKING STATEMENTS
This Form 8-K contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, which are intended to be covered by
the safe harbors created thereby. The words "believe," "will be able,"
"anticipate," "estimate," "should," "will," "expect," "continue," "intend" or
similar words are intended to identify forward-looking statements. Such
statements involve risks and uncertainties that exist in the operations and
business environment of Newtek Business Services, Inc., (Newtek) that could
render actual outcomes and results materially different than predicted. Newtek's
forward-looking statements are based on assumptions about many factors,
including, but not limited to: changes in interest rates or the general economy
of the markets in which Newtek operates; economic, technological or regulatory
changes affecting the businesses conducted and to be conducted by Newtek;
Newtek's ability to employ and retain qualified employees; changes in government
regulations that are applicable to Newtek's regulated small business lending;
management businesses; Newtek's ability to identify and complete acquisitions
and successfully integrate the businesses it acquires; changes in the demand for
Newtek's services; the degree and nature of Newtek's competition; and general
volatility of the capital markets and the market price of Newtek's common stock.
While Newtek believes that its assumptions are reasonable at the time
forward-looking statements were made, it cautions that it is impossible to
predict the actual outcome of numerous factors and, therefore, readers should
not place undue reliance on such statements. Forward-looking statements speak
only as of the date they are made and Newtek undertakes no obligation to update
such statements in light of new information or otherwise.
Item 5. Other Events and Regulation FD Disclosure.
Newtek Business Services, Inc. and its subsidiary, Newtek Small
Business Finance, Inc., have entered into an agreement with Merrill Lynch
Business Financial Services, Inc. to make available to small business customers
loans through the US Small Business Administration Section 7A government
guaranteed loan program.
Newtek Business Services has also entered into an agreement with CBW
Financial Services, Inc., a wholly-owned subsidiary of the Community Bankers of
Wisconsin, a trade association representing 226 state and federal community
banks. CBW Financial Services has exclusively endorsed Newtek Business Services
Inc. to provide SBA 7A loan funding and loans services (underwriting, loan
servicing and loan assembly) to the banks in the CBW system. Newtek will perform
this function through Newtek Small Business Finance, its New York-based lending
arm that is licensed by the US Small Business Administration to lend in all 50
states and does so utilizing its proprietary web-based referral system and
internet based applications.
Newtek Business Services, Inc., also issued a press release announcing
the roll out of its latest small business service offering, Newtek Insurance
Agency, LLC. A copy of the press release is attached to this report on Form 8-K
as exhibit 99.1. The Newtek Insurance Agency will be based in Washington, DC and
New York City and will provide a complete menu of insurance products needed by
small- to medium-sized businesses.
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
has caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
NEWTEK BUSINESS SERVICES, INC.
Date: February 26, 2004 /s/ Barry Sloane
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Barry Sloane
Chairman of the Board,
Chief Executive Officer and Secretary
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