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U.S. Small Business Borrowing Rises In August, Slowly

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October 01, 2013 AT 9:51 AM
By Ann Saphir (Reuters) - Borrowing by U.S. small businesses edged up in August, pushing an index of borrowing to a six-year high. The Thomson Reuters/PayNet Small Business Lending Index, which measures the volume of financing to small companies, rose 1 percent to 116.6, the highest level since August 2007. The index registered 115.4 in July, revised from an initial reading of 117.7, PayNet said on Tuesday. Historically, PayNet's lending index has correlated to overall economic growth one or two quarters in the future. ...