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PayNet: Canadian Commercial Lending Hits Record in Q3

December 17, 2013, 07:00 AM
Filed Under: Economic Commentary

Reuters reports that according to a PayNet survey, commercial borrowing by small and medium-sized businesses in Canada jumped to a record high in the third quarter as companies invested more to meet demand for their goods and services.

According to the Reuters report, PayNet said its Canadian Business Lending Index rose to 224, the highest level since the index began in 2005, from 206 in the second quarter.That made for a 32 percent jump from a year earlier, while the figure for lending in the second quarter was also revised slightly higher. The index has been rising steadily since late 2010.

Companies are making capital investments to meet demand and ramp up productivity so that they can do more with less, said Anthony Zambon, director of PayNet Canada.

To read the full Reuters report, click here.

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