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Newtek opens California office

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NEW YORK (1/29/12)--Newtek Business Services, The Small Business Authority will open a western region business development business development office in Orange County, Calif. during the first quarter.

Newtek Business Services is a CUNA Strategic Services provider.

The office will be run by Tom Stier, who will serve as vice president and western region manager. Stier most recently was vice president, sales, marketing, product development and investor relations at Aurora Bank FSB, and has experience in managing residential and commercial lending.

The new office will hire up to four additional employees. The office will promote and sell the total spectrum of Newtek products, including the Newtek Advantage operating platform to distribution partners and retail accounts.

The Newtek Advantage provides the ability to access real-time data and information on electronic payment processing, payroll, web traffic statistics and insurance products.

The office is anticipated to open during the first quarter of 2013 in the Orange County region of California.

Newtek provides services to small and medium-size businesses, primarily through alliance relationships. Newtek is a non-depository institution, which means it does not compete for members' accounts. It works to preserve the relationship between members and their credit unions.