Newtek Receives $13.1 Million Tax Credit Allocation

Newtek Business Services, Inc. (www.newtekbusinessservices.com),  a provider of business services and financial products to the small to medium-sized business market, announced the formation and establishment of Wilshire DC Partners.

Barry Sloane, Chairman and CEO of Newtek Business Services, said, "The certified capital company activity of Newtek Business Services is estimated to raise $20 to $25 million in cash over the next seven months which we plan to rapidly deploy into qualified businesses over the next twelve to twenty-four months."

Newtek Business Services manages in excess of $200 million in certified capital in states including New York, Florida, Wisconsin, Louisiana, Colorado and Alabama.

Additionally, the company has established Wilshire Texas Partners and Wilshire New York Partners IV in anticipation of participating in the Texas $200 million program and the newly established $60 million New York program.