NetBank Introduces Commercial Loans for Small Businesses

May 12, 2006; 04:24 AM

ATLANTA - NetBank, Inc. (Nasdaq:NTBK), a diversified financial services provider and parent company of NetBank(R) (www.netbank.com), today announced a strategic alliance between NetBank and Silver Hill Financial, LLC for Silver Hill(R) to provide financing to NetBank's small business customers for commercial properties up to $1.5 million.

"We're working to add the types of products and services our customers have told us they need," said Bert Davis, director of small business banking, NetBank. "Many small business owners are interested in commercial real estate for their business, or as an investment. Through our alliance partner, Silver Hill Financial, we're immediately able to expand our product offering to our customers in all 50 states and we've made it easy for our customers by providing an innovative residential-style approach to commercial lending."

Small business owners interested in refinancing an existing business property, purchasing a leased facility or just investing in commercial real estate can simply contact NetBank to begin the process. All loans are underwritten based primarily on the applicant's personal credit history. Loan features include down payments as low as 10% and both adjustable- and fixed-rate loan programs.

Loan amounts range from $100,000 to $1.5 million. Eligible property types include: multi-family, mixed use, office, retail, self-storage, light industrial, warehouse, mobile home park, bed & breakfast and others.

NetBank's credit products also include: secured lines of credit; term loans for fixed assets, franchise finance and long-term working capital, and are offered through NetBank Business Finance; plus business credit cards. In addition to traditional deposit products, NetBank also offers small businesses Internet-based payroll and tax filing services through an alliance with CompuPay, merchant and payment processing services, and online bill payment (including 10 free payments per month). NetBank's internet banking platform provides superior functionality, including the ability for a business owner to delegate, online, varying levels of authority for access by subordinates to company account information at NetBank.

About NetBank, Inc.

NetBank, Inc. (Nasdaq:NTBK) operates with a revolutionary business model through a diverse group of complementary financial services businesses that leverage technology for more efficient and cost effective delivery of services. Its primary areas of operation include personal and small business banking, retail and wholesale mortgage lending, and transaction processing. For more information, please visit www.netbankinc.com.

About Silver Hill Financial, LLC

Headquartered in Miami with regional offices throughout the country, Silver Hill Financial(R) is a nationwide commercial real estate lender that offers financing to borrowers through a network of mortgage brokers and correspondents. The company's innovative residential-style program makes commercial lending easy as residential, using flexible underwriting criteria ideal for borrowers seeking loans from $100,000 to $1.5 million. For more information on Silver Hill Financial, please visit www.silverhillfinancial.com or call us at 888.988.8843.