Newtek doubling office space in W. Hempstead
Newtek Business Services Inc. said Monday it plans to double its facility space in West Hempstead by leasing an additional 11,000 square feet at 60 Hempstead Ave.
The 13-year-old Manhattan-based company, which specializes in lending and services for small and medium-size businesses, says it plans to move into the new space in the next 60 days.
It also plans to add 30 jobs over the next two years to the 65 to 70 now at the West Hempstead location, in preparation for what it believes will be an increase in demand for its business loans. New hires are to include loans assemblers, underwriters, loan servicing managers and asset managers.
Barry Sloane, chairman, president and CEO of Newtek, said in a statement, "We anticipate growing our small business lending operation in excess of 50 percent in loan volume in 2013."
Newtek employs 309 people, a spokesman said. The publicly traded Newtek says it serves more than 100,000 business accounts in all 50 states. It hasn't yet reported fourth quarter and full year results for 2012; for the first nine months it said it earned $3.98 million, or 11 cents a share, on revenues of $96.5 million -- each figure representing an improvement over a year earlier.
Its shares, up 7 cents Monday to close at $2.09, have risen from $1.23 on Feb. 6, 2012.