February 1, 2005 (Press Release) CrystalTech Web Hosting Inc, a subsidiary of Newtek Business Services, Inc. (NASDAQ: NKBS) and leading provider of Windows-based web hosting, is pleased to introduce CTFinance, a new service designed to offer SBA-approved loan services to small to medium sized businesses. Through a partnership with Newtek Small Business Finance, both future and existing CrystalTech customers meeting the small business qualifications can quickly and easily apply for a small business loan, underwritten by a preferred SBA lender.
As with their merchant processing solution, CTMerchant, CrystalTech has streamlined the loan request process so that Customers can visit CrystalTechs website and fill out a simple online loan application. The information is sent to a Newtek Small Business Finance representative who then contacts the customer to finalize the loan application and answer any questions the customer may have. Loans amounts vary and range from $25,000 up to $2 million, and can be used to open, expand or acquire a business, finance business expenses, purchase equipment or real estate or for a variety of other small business needs.
Eligible businesses for the CTFinance SB Loan include:
Construction business with less than $27.5 million in annual sales;
Service business with less than $25 million in annual receipts;
Wholesale business with less than 100 employees; or
Manufacturing businesses with less than 1,500 employees.
This loan program is unique in that it combines the technical reach of CrystalTech with the loan expertise of Newtek Small Business Finance, one of only 14 SBA-licensed national lenders. With its vast knowledge and significant experience in the small business market, Newtek Small Business Finance can provide qualified small business owners with adequate funding and a repayment schedule that fits their cash flow requirements.
With the increasing emphasis on the small business market, it pays to have access to a full menu of services that cater to that market. CrystalTech can go beyond offering simple web hosting to small business owners. We have access to everything from electronic payment processing services and loans to outsourced digital bookkeeping and insurance thanks to our affiliation with Newtek, and have every intention of making those services available both to our existing customer base and future CrystalTech customers, said Tim Uzzanti, CrystalTechs CEO.
Along with the CTFinance SB Loans, the CrystalTech website offers small businesses a one-stop source for all of their online needs. CrystalTech offers shared web hosting accounts with free site building and shopping cart tools, low-cost domain name registration and merchant accounts with payment gateway services.
Founded in 1992, CrystalTech Web Hosting, Inc. is one of the largest Windows-based web hosting companies in the world, hosting customers in over 100 countries, ranging from small businesses to Fortune 100 corporations. CrystalTech is responsible for hundreds of millions of visits each day on the Internet and uses a state-of-the-art data center that includes redundancy throughout core systems like power, air conditioning, network connectivity, network transportation, as well as a secured environment for their network operations center. CrystalTech is a subsidiary of Newtek Business Services, Inc. (NASDAQ: NKBS), a premier provider of business services and financial products to small and medium-sized businesses. For more information about CrystalTech, please contact 877-323-4678 or visit http://www.crystaltech.com.