Sitting on a Cash Pile 11.0? Service to Recovering Independent US Business Owners Developing

Sitting on a Cash Pile 11.0? Service to Recovering Independent US Business Owners Developing

#cash #bullish #buy

$NEWT

Newtek Business Services Corp. (NASDAQ:NEWT) broke out at 18.65 on 30 December 2020, and confirmed on 8 February at 21.65 garnering an LTN Cash Pile Buy rating, with a yr price target of 33/share.

The stock is currently trading at 21.61 in NY.

The Key support is at 19.94 and the resistance is Nil and all technical indicators are Very Bullish across the board,

Our overall technical analysis is Bullish with a Very Bullish bias.

Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States.

The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments. Under debt investments, it focuses on first lien loans, which have terms of 1 to 25 yrs; 2nd lien loans, which have terms of 5 to 25 yrs, and unsecured loans, which are provided to meet short-term funding needs and are repaid within 6 to 12 months.

It operates through Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, and Capcos segments.

The company originates SBA (small business administration) loans for the purpose of acquiring commercial real estate, machinery, equipment, and inventory, as well as to refinance debt and fund franchises, working capital, and business acquisitions, and offers small business loan servicing and consulting services to the FDIC (Federal Deposit Insurance Corporation) and various other financial institutions, as well as provides management services.

Its electronic payment processing services include credit and debit card processing, check approval, ancillary processing equipment and software to merchants, e-Commerce, electronic solutions to accept non-cash payments, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs.

The company also provides Website hosting, dedicated server, and cloud hosting services, Web design and development, Internet marketing, data storage and backup and other related services and e-Commerce services, such as payment processing, online shopping cart tools, Website design and Web related services, Accounts Receivable Financing, and The Secure Gateway.

In addition, it offers Newtek Advantage, a mobile, real-time operating platform enabling a business to access data on a smartphone, tablet, laptop, or PC for e-Commerce, credit/debit transactions, Website statistics, payroll, insurance, and business loans.

Further, the company sells personal, commercial, and health/benefits lines of insurance products; and payroll management processing and employee tax filing services.

It has strategic alliances with American International Group, CTAA, Navy Federal Credit Union, Credit Union National Association, Pershing, and others to provide agent services to small business clients.

The firm seeks to invest in New York and Louisiana area. The firm seeks to invest $0.3 to 3-M in businesses. It provides small business terms loans ranging from $0.05 to 10-M. The firm also provides account receivable financing ranging from $0.05 to 1.5-M. It also provides $0.05 to 10-M financing to owner occupied real estate businesses whose average net income over the last 2 yrs must not exceed $2.5-M.

Newtek Business Services Corp., formerly known as Newtek Business Services Inc., was incorporated on 26 August 2013 and is HQ’d in Boca Raton, Florida with additional offices in Lake Success, NY, Garden City, NY; Miami, Florida; Milwaukee, Wisconsin; New Orleans, Louisiana and NYC, NY.

Have a healthy day, Keep the Faith!

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.