Newtek Seeks Patent On Web-Based Business Referral System

NEW YORK -- Newtek Business Services, which provides small business loan services to credit unions, said it has applied for a patent with the U.S. Patent Office on its NewTracker web-based referral system used by CUNA, Navy FCU, Merrill Lynch and other Newtek clients. The patent application describes a method of processing, tracking and reporting business loan referral data in association with a processing system. The system combines algorithmic linking of multiple forms of customer relationship management, public relations management and Extranet to a diverse set of customers, while ensuring regulatory and security compliance. Newtek provides access to Small Business Administration-guarantees for credit unions, as well as other small business lending services.