UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
March
31, 2006
Date
of
Report (date of Earliest Event Reported)
NEWTEK
BUSINESS SERVICES, INC.
(Exact
Name of Company as Specified in its Charter)
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NEW
YORK
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001-16123
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11-3504638
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(State
or Other Jurisdiction of
Incorporation or
Organization)
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(Commission
File No.)
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(I.R.S.
Employer Identification No.)
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462
Seventh Avenue, 14th
floor,
New York, NY 10018
(Address
of principal executive offices and zip code)
(212)
356-9500
(Company’s
telephone number, including area code)
NEWTEK
CAPITAL, INC.
(Former
name or former address, if changed from last report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule
425
under the Securities Act (17 CFR 230.425) |
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| o |
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR 240.14a-12) |
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| o |
Pre-commencement communications pursuant
to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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| o |
Pre-commencement communications pursuant
to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM
8.01 Other
Events.
On
March
31, 2006 Newtek Business Services,
Inc. (NASDAQ:NKBS) (www.newtekbusinessservices.com),
announced that its wholly-owned subsidiary, CrystalTech Web Hosting, Inc.
(“CrystalTech”), has made a substantial voluntary prepayment of principal on its
$8 million loan entered into in March 2005 from Technology Investment Capital
Corp. (“TICC”). The loan was to mature in 2010 but CrystalTech determined to
repay half or $4 million this year, as well as to make an additional interest
payment of approximately $127,000 in cash instead of securities as has been
originally agreed. Other minor modifications were made to the loan agreement
including providing for two remaining payments of principal in 2008 and 2009.
A
copy of the letter agreement modifying the terms of the agreement between
CrystalTech, Registrant and TICC is attached as an exhibit.
ITEM
9.01. Financial Statements and Exhibits
(c)
Exhibits
10.1 Letter
Agreement dated March 30, 2006 between Newtek Business Services, Inc.,
CrystalTech
Web Hosting, Inc. and Technology Investment Capital Corp.
SIGNATURES
In
accordance with the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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NEWTEK
BUSINESS SERVICES, INC. |
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| Date: March
31, 2006 |
By: |
/s/ Barry
Sloane |
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Barry
Sloane |
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Chairman
of the
Board, Chief Executive Officer,
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