Report: Small Business Lending Picked Up in October

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

NEW YORK (AP) -- Small business owners borrowed more in October, a sign that they might be getting more confident about hiring.

Lending to small companies rose 11 percent from September's level, according to a survey released Monday by PayNet, which provides credit ratings on small businesses. Small business lending has been erratic recently, dropping in September after increasing in July and August.

The Thomson Reuters/PayNet Small Business Lending index, which is based on new commercial loans and leases granted to small businesses, rose to 107.5 from a revised 96.4.

Recent reports have shown that small companies are slowly hiring. And the government reported another positive trend last week: The economy grew at a better-than-expected 2.7 percent annual rate during the third quarter.

Several reports this week will show whether businesses stepped up their hiring during November.

Jeff Fischer and team have demystified options. And they can rack up income like $1,030... $2,626... and $3,228 on a schedule you can set your watch by!
That's why we're glad to announce every single one of their closely guarded strategies is available to YOU during May and June – 100% FREE, no strings attached! Just enter your email address in the box below...

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.