Newtek Business Services Corp
Company Overview
Newtek Business Services Corp. is a business development company (BDC) that provides financial and business services to small and medium-sized businesses. The company's primary business activities include providing commercial loans, payment processing solutions, managed technology solutions, and various other business services.
Through its subsidiary, Newtek Bank, N.A., the company operates as a nationally chartered bank providing lending and deposit services. The company's business model heavily involves lending activities and earning interest income from its loan portfolio.
Use of Interest
| Reporting Date | Total Revenue | Total Operating Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $74.87m | $58.75m | - | $12.98m | 0.00% | 22.09% |
| June 30, 2024 | $73.8m | $59.73m | - | $13.36m | 0.00% | 22.37% |
| March 31, 2024 | $76.16m | $63.34m | - | $12.59m | 0.00% | 19.87% |
Company Impact
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