Monday, March 30, 2015

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

John Deere updates 3E Series

3032E and 3038E are the newest additions to the compact utility tractor line.

EPA registers new pesticide

Oxalic acid will target varroa mites, which are a threat to honeybee colonies.

Power walkers

Zero-turn and stand-on mowers get all the attention, but walk-behinds can show your clients you are paying especially close attention to their properties.

Worth the money

Charging for design work has its benefits.

Easy SEO

Try these seven search engine optimization quick-fixes for your lawn care and landscaping website.

x