Newtek Business Services Corp., an internally managed business development company (“BDC”), announced that two of its portfolio companies have hired two senior lending executives.

Albert Spada has joined Small  Business Lending as Executive Vice President. Small  Business Lending, an S&P rated servicer, provides outsourced third-party lending services to financial institutions and other non-bank lenders. Spada has been a leader in the commercial lending industry for several decades. Prior to joining Newtek Business Lending, Spada was Managing Director and Head of Asset Based Finance at Santander Bank in the United States, with responsibility for the ABL and Mortgage Warehouse Finance businesses.  Prior to Santander, he held the positions of National Sales Leader for Citizens Business Capital, Executive Vice President and Chief Sales Officer of CIT Commercial and Industrial, and spent more than 13 years at GE Commercial Finance in various leadership positions. He also held positions at The Bank of New York and Goldman Sachs.

In addition, Frank Bertelle has joined CDS Business Services, Inc.,d/b/a Newtek Business Credit, as Chief Operating Officer. Newtek Business Credit provides conventional lines of credit to SMB and middle-market companies in all 50 states. Prior to joining Newtek Business Credit, he served as Senior Vice President, Market Credit Manager for TD Bank N.A. ABL Group, where he managed a team of six credit managers and credit analysts covering 35 accounts with commitments and loan outstandings of $1.6 billion and $658 million, respectively. Prior to TD Bank, Bertelle held positions at The CIT Group, Transamerica Business Capital Corp. and The Dai-Ichi Kango Bank, LTD.

Both Spada and Bertelle will sit on  credit and risk committees for different Newtek controlled portfolio companies.

Spada, Executive Vice President of Newtek Business Lending, said, “I have known Newtek and its management team for over 15 years, first as a lending client and now as part of the talented management team. I look forward to our efforts in growing our lending platform to serve third-party clients across all 50 states.”

Bertelle, Chief Operating Officer of Newtek Business Credit, said, “I have known Newtek and its management team since 2005, have seen the Company grow and become a player in many markets. I’m honored and excited to join this team and add my leadership and credit skills to help the Company grow and serve its customers and alliance partners.”

Barry Sloane, Chief Executive Officer, said, “The recruitment and hiring of both executives is part of Newtek’s continued  expansion into providing a scalable and wide menu of lending and financial solutions to our growing referral base with a quality management team having decades of lending experience.”