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Small Business Lending Demand Up 37% YTD

July 08, 2013, 06:50 AM
Filed Under: Economic Commentary

Small business lending demand increased in the second quarter of 2013, according to Direct Capital, a leading provider of equipment leasing, business loans and working capital. The company’s Small Business Lending Index showed a 4% increase in lending demand over the previous quarter. Overall, lending demand is up 37% year-to-date over 2012, the index shows.
For the month of June, demand remained steady in comparison to May, according to the index. “This is the second straight month where we have seen demand remain relatively flat,” said Stephen Lankler, Direct Capital’s Senior Vice President of Marketing. “January through April we saw consistent and meaningful month-over-month growth in demand. Demand has continued to be very strong, but it has leveled off. The great news is that it remains to be up considerably over 2012.”
Lankler said he expects demand to dip in July and August. “We expect the next two months to be the calm before the storm,” said Lankler. “The last four months of the year are shaping up to be very significant if the current pace continues.”
Direct Capital’s Monthly Small Business Index is based on an algorithm that collects data from more than 200 sources.

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