U.S. credit information company PayNet on Monday released a report last November the amount of U.S. small business loans rose to its highest level in more than two years because of its small business owners to make use borrowing to invest in the business, but also to better use of borrowing to repay existing debt.
Report, Nov. Thomson Reuters / PayNet index of small-business loans increase 17% over the previous year, the index used to track the overall small business loan amount received, including loans, leases and credit lines. This is the ninth straight month the index growth, but also the fourth consecutive month to achieve double-digit growth.
Thomson Reuters / PayNet index of small business loans to borrowers in January 2005 as the base amount, the index rose to 88.3 points in November, the highest since September 2008 has been the best performance, higher than October's 79.8 points and last year's 75.3 points. PayNet president - Bill Ferran (Bill Phelan), said in an interview: "The data provide conclusive evidence that the economy is small businesses continue to grow and recover. No matter where in terms of the index, its performance is is very positive. "
According to another PayNet data released today show that in the current issue of repayment of loans, overdue payments decrease the number of companies, this is another positive economic signs.
Data show that in November mild delinquency (ie, 30 days past due 30 days or more has not default) accounts in the proportion of the total accounts receivable was 2.51%, lower than October last year 2.65% and 4.26 %; heavy arrears (overdue 90 days or 90 days) accounts accounted for 0.76%, lower than last month's 0.78% and 1.42% a year earlier; default (that is 180 days or 180 days have not yet paragraph) accounts accounted for 0.79%, down from October's 0.81% and 0.88% a year earlier.