SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

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                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

        DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): AUGUST 25, 2004

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                         NEWTEK BUSINESS SERVICES, INC.
               (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)

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          NEW YORK                     001-16123                 11-3504638
(STATE OR OTHER JURISDICTION         (COMMISSION              (I.R.S. EMPLOYER
      OF INCORPORATION)              FILE NUMBER)            IDENTIFICATION NO.)


100 QUENTIN ROOSEVELT BLVD., GARDEN CITY, NEW YORK                  11554
     (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                    (ZIP CODE)

       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (516) 390-2260

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                           FORWARD-LOOKING STATEMENTS

     This Current Report on Form 8-K contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, which are
intended to be covered by the safe harbors created thereby. The words "believe,"
"will be able," "anticipate," "estimate," "should," "will," "expect,"
"continue," "intend" or similar words are intended to identify forward-looking
statements. Such statements involve risks and uncertainties that exist in the
operations and business environment of Newtek Business Services, Inc. that could
render actual outcomes and results materially different than predicted. Our
forward-looking statements are based on assumptions about many factors,
including, but not limited to: changes in interest rates or the general economy
of the markets in which we operate; economic, technological or regulatory
changes affecting the businesses conducted and to be conducted by us; our
ability to employ and retain qualified employees; changes in government
regulations that are applicable to our regulated small business lending; our
ability to identify and complete acquisitions and successfully integrate the
businesses we acquire; changes in the demand for the services we or our
affiliates offer; the degree and nature of competition; and general volatility
of the capital markets and the market price of our common stock. While we
believe that our assumptions are reasonable at the time forward-looking
statements were made, we caution that it is impossible to predict the actual
outcome of numerous factors and, therefore, readers



should not place undue reliance on such statements. Forward-looking statements
speak only as of the date they are made and we undertake no obligation to update
such statements in light of new information or otherwise.

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ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS.

Newtek Business Services, Inc. announced on August 24, 2004 that it's Chief
Accounting Officer, Guiseppe Soccodato has resigned from his position as an
officer of the company, with an effective date of close of business on
September 3, 2004.


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                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

Date: August 25, 2004


                                         NEWTEK BUSINESS SERVICES, INC.


                                         By: /s/ Barry Sloane
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                                         Name:  Barry Sloane
                                         Title: Chairman of the Board, Chief
                                                Executive Officer and Secretary

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