Form 8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

Date of Report (earliest event reported): May 6, 2005

 

 

NEWTEK BUSINESS SERVICES, INC.

(Exact name of small business issuer as specified in its charter)

 

 

New York   001-16123   11-3504638

(State or other jurisdiction of

incorporation or organization)

   (Commission file number)  

(I.R.S. Employer

Identification No.)

 

462 Seventh Avenue, 14th floor, New York, NY   10018
(Address of principal executive offices)   (Zip Code)

 

Issuer’s telephone number, including area code: (516) 390-2260

 

Newtek Capital, Inc.

(Former Name)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

ITEM 5. Other Events and Required Fd Disclosure.

 

On May 9, 2005, the Registrant announced that its subsidiary, Newtek Small Business Finance, Inc., signed a non-exclusive Summary of Proposed Terms with a large, international commercial finance company for a $75 million Senior Secured Revolving Credit Facility. This credit facility would be used to replace the company’s existing line which matures on June 30, 2005 for the purpose of warehousing portions of loans made by the company under the US Small Business Administration’s guaranteed loan program.

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: May 9, 2005

  

/s/ Barry Sloane

   

Barry Sloane

   

Chairman of the Board, Chief Executive Officer,

and Secretary