The Thomson Reuters/PayNet Small Business Lending Index just release its report for June 2014. The report shows that small business lending has decreased since May 2014 from 125.4 to 120.6. However, PayNet founder Bill Phelan still finds a silver lining in this news that while it has decreased, the index is up 15% from 2013. -We still think its a pretty strong report,- says Phelan. -Id expect GDP to be fairly robust and positive over the next quarter.-
Still, the future of the small business economy remains precarious as small business loan delinquencies have risen to their highest in over a year. 1.51% of all borrowers are have fallen behind on payments. This however, is significantly lower than index highest recording of delinquencies at 4.73% in August of 2009.
