By Lucia Mutikani www.reuters.com WASHINGTON | Mon Jan 2, 2012 5:01am EST
Borrowing by small U.S. businesses hit its highest level in nearly four years in November, pointing to underlying strength in the economy.
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.” [Read more...]
