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- 01/03/2012 | 12:35 pm
- by: Weemba
Small business borrowing at near 4-year high in November
Borrowing by small U.S. businesses hit its highest level in nearly four years in November, pointing to underlying strength in the economy. By Lucia Mutikani for Reuters, Jan. 2, 2012 …
The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to small businesses, surged 10.2 points to 106.4, the highest level since February 2008. The index was up 18 percent from November 2010.
“We are entering a new phase of the business cycle,” said PayNet founder Bill Phelan. “Businesses are betting on the future with increased investment spending.”
PayNet tracks borrowing by millions of small U.S. businesses and provides risk-management tools to the commercial lending industry.
The survey adds to other data suggesting the economy gathered momentum in the final three months of 2011, which should help it to better handle the headwinds from the debt crisis in Europe and fights over budget policy in Washington.
Read more of this story at Reuters.
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