FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


PayNet: Small Business Borrowing Shows Small Gain for 2012

February 04, 2013, 07:32 AM
Filed Under: Economy

Reuters reported that borrowing by small U.S. businesses rose marginally in December, reporting a small gain for the entire year. 

According to the Reuters report, the Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to small U.S. companies, rose to 112 from an upwardly revised 111.1 (initially reported as 108.3) in November. Borrowing was up just 1% from a year earlier.

The report quotes PayNet founder Bill Phelan saying small businesses "haven't come out of their shell." Phelan also stated, “the next two to five months are going to be pretty slow.”

Separate PayNet data showed financial stress at near-record-low levels. Accounts overdue by 30 days fell to 1.20% of the total from 1.21% the previous month. Accounts behind 180 days or more, declined  to 0.24% from 0.27%. Accounts behind 90 days or more, or in severe delinquency, fell to 0.26%, from 0.27%.

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.