Wednesday, July 30, 2014

Home News Small business lending picked up in June

Small business lending picked up in June

Industry News

The increase shows business owners feel confident about borrowing for growth.

| July 3, 2012

NEW YORK (AP) — Lending to small businesses is recovering after a four-month decline.

A study released Monday by PayNet, a research firm that tracks loans to small businesses, shows that lending rose 12 percent in May from April's levels. That's the largest increase since June 2009, when the economy was pulling out of the recession.

William Phelan, president of PayNet, said the increase shows that small business owners are feeling more confident about borrowing for expansion. But he said the higher reading also could be a blip rather than the start of a trend. Many business owners are still uneasy about the economy and remain reserved with their spending on new equipment and hiring, he said.

"We expect to see steady and cautious expansion by small businesses if we avoid external shocks such as another credit crisis," Phelan said.

The Thomson Reuters/PayNet Small Business Lending Index rose to 108.4 in May from April's 96.6. That brings it close to the 110.5 that the index registered in December, before a four-month slide began. PayNet bases its index on new commercial loans and leases granted to the small businesses in its database.

For the rest of the article, click here.

Top news

Ford releases 2015 F-150

Truck boasts high performance, capability and efficiency.

The A Team

Andre Landscape Service focuses on understanding the “client paradigm” to differentiate the firm in a competitive market.

Spray it or spread it?

If you’re trying to figure out whether you should be using a sprayer, a spreader or a combination of the two, consider these pros’ purchasing, training and maintenance tips.

Time-tested

DeVisser Landscape Services enhanced its reputation with the proven systems of a Weed Man franchise.

12 months of Zen

Judy Altmaier opens up about her first year at Exmark, and where she sees the market headed.