Report: Small Business Lending Picked Up in October

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.


Read/Post Comments (0) | Recommend This Article (0)

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 Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2137010, ~/Articles/ArticleHandler.aspx, 12/20/2014 1:48:26 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement