Exhibit 99.1

FOR IMMEDIATE RELEASE

Newtek Reports First Quarter 2014 Financial Results

Company Reaffirms Full Year 2014 Consolidated Guidance; Forecasts Double- Digit Top- and Bottom-Line Percentage Growth

New York, N.Y. - May 7, 2014 - Newtek Business Services, Inc. (NASDAQ: NEWT) (www.thesba.com) The Small Business Authority^®, a provider of business services and financial products to the small- and medium-sized business market, announced today its financial results for the three months ended March 31, 2014.

First Quarter 2014 Consolidated Financial Highlights:

First Quarter 2014 Operational Highlights:

Reaffirmed Full Year 2014 Consolidated Guidance:

Barry Sloane, Chairman, President and Chief Executive Officer said, “While our first quarter consolidated results were not as strong as we would have liked, we are extremely optimistic regarding our future growth and success. As such, we are reaffirming our full year 2014 consolidated guidance, validating our confidence in our future performance with forecasted double–digit top- and bottom-line percentage growth.”

Mr. Sloane continued, “On a segment basis, we are pleased to report the outstanding performance of our SBA lender, Newtek Small Business Finance. Our lender once again achieved strong growth in revenue and pretax income of 35% and 24%, respectively, thoroughly illustrating the demand for our loan product offerings, fueled in large part by the combination of our expertise in SBA lending and top-notch customer service. We fully intend to continue to capitalize on the opportunities within this market, and grow our lending infrastructure while simultaneously maintaining our underwriting discipline and the credit quality of the loans we originate. Specifically, we anticipate originating approximately $250 million in loans in 2014, representing a more than 40% increase over 2013.”

“As we have previously discussed, the business service space does indeed have some challenges, and we recognize the need for achieving higher levels of growth in our two other main operating business segments, namely Electronic Payment Processing and Managed Technology Solutions. However, the winning combination of our position as a FinTech Company, with our proprietary state-of-the-art web-based technology NewTracker^®, and our cloud-based offerings uniquely and strategically positions us to capture the tremendous opportunities present within these business segments, as well as within the small business market overall. In particular, and most notable, we have been intently focused on expanding the scope of our integrated product offerings with the ultimate goal of becoming the business service provider that offers cloud-based solutions on our single operating platform, The Newtek Advantage^™, for all of our services including Payroll, eCommerce, and Web Hosting, and we plan to add in the near future, Insurance Agency, Lending information, POS and, financial reporting and tax services. Our market position as a cloud-computing company, managing its own data center, gives us what we believe is an unparalleled ability to deliver integrated offerings to the independent business owner, which is the key to the highest level of customer service. Additionally, to stimulate our future performance and manage risk

in all of our segments, we will be announcing the hiring of several new senior executives who will promote revenue growth in business services, as well as support our risk profile and increase the depth and breadth of our senior management team. As the year progresses, we look forward to reporting our future growth and achievements to our stakeholders,” concluded Mr. Sloane.

Cautionary Statement

2014 Guidance information and statements regarding future intentions contained in this press release are based on management’s current expectations. These statements are forward looking and actual results may differ materially. See “Note Regarding Forward-Looking Statements” below.

Use of Non-GAAP Financial Measures

In evaluating its business, Newtek considers and uses Adjusted EBITDA as a supplemental measure of its operating performance. The Company defines Adjusted EBITDA as earnings before income from tax credits, interest expense, taxes, depreciation and amortization, stock compensation expense, other than temporary decline in value of investments, Capco fair value change and the amortization of the 2011 accrued loss on the lease restructure. The Company also presents Adjusted EBITDA because it believes it is frequently used by securities analysts, investors and other interested parties as a measure of financial performance.

The term Adjusted EBITDA is not defined under U.S. generally accepted accounting principles, or U.S. GAAP, and is not a measure of operating income (loss), operating performance or liquidity presented in accordance with U.S. GAAP. Adjusted EBITDA has limitations as an analytical tool and, when assessing the Company’s operating performance, investors should not consider Adjusted EBITDA in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Among other things, Adjusted EBITDA does not reflect the Company’s actual cash expenditures. Other companies may calculate similar measures differently than Newtek, limiting their usefulness as comparative tools. The Company compensates for these limitations by relying primarily on its GAAP results supplemented by Adjusted EBITDA.

Investor Conference Call and Webcast

A conference call to discuss first quarter 2014 results will be hosted by Barry Sloane, Chairman, President and Chief Executive Officer, and Jennifer Eddelson, Executive Vice President and Chief Accounting Officer, today, Wednesday, May 7, 2014 at 4:15 p.m. EDT. The live conference call can be accessed by dialing (877) 303-6993 or (760) 666-3611.

A live audio webcast of the call and the corresponding presentation will be available in the ‘Events & Presentation’ section of the Investor Relations portion of Newtek’s website at http://investor.newtekbusinessservices.com/events.cfm. A replay of the webcast with the corresponding presentation will be available on Newtek’s website shortly following the live presentation.

About Newtek Business Services, Inc.

Newtek Business Services, Inc., The Small Business Authority^®, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek^® brand including:

Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today’s marketplace. Newtek provides one or more of its services to over 100,000 business accounts and has positioned the Newtek^® and The Small Business Authority brands as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms

The Small Business Authority^® is a registered trademark of Newtek Business Services, Inc., and neither are a part of or endorsed by the U.S. Small Business Administration.

Note Regarding Forward-Looking Statements

Statements in this press release including statements regarding Newtek’s beliefs, expectations, intentions or strategies for the future, may be “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions which could cause Newtek’s actual results to differ from management’s current expectations are contained in Newtek’s filings with the Securities and Exchange Commission and available through http://www.sec.gov.

For more information, please visit www.thesba.com.

Contact:

Newtek Business Services, Inc.

Barry Sloane

Chairman and CEO

212-356-9500

bsloane@thesba.com

NEWTEK BUSINESS SERVICES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 AND 2013

(In Thousands, except for Per Share Data)

NEWTEK BUSINESS SERVICES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

MARCH 31, 2014 AND DECEMBER 31, 2013

(In Thousands, except for Per Share Data)

NEWTEK BUSINESS SERVICES, INC. AND SUBSIDIARIES

ADJUSTED EBITDA RECONCILIATION FROM PRETAX INCOME

(In Millions)