Small business borrowing rises in October

The recently-released Thomson Reuters/PayNet Small Business Lending Index revealed that small businesses in the U.S. received more financing in October. The scale rose to 107.5 from September's number of 96.4. According to Reuters, business financing in October was up 11 percent from the last year.

Aside from being approved for loans, businesses were also paying off expenses in a timely fashion in October. Long-term delinquent accounts behind 180 days or more dropped to 0.29 percent from the 0.32 percent seen in September. Accounts overdue by 30 days slid to 1.2 percent, from the 1.21 calculated the previous month.

Once approved for financing, businesses can further develop new technology, invest in sustainable energy and increase their presence in the local community with more employees. Payroll services provider ADP revealed that small business payrolls increased by 50,000 in October, the biggest gain since July, signaling that a small business revival may be on the horizon. As more companies continue to slowly expand and add new employees, the rate of financing may further increase and lead to an even greater need for small business loans.

Content presented by Bridge Bank, offering flexible, customized solutions for entrepreneurs.

Getting Started

Find your ideal banker:

Select any filter and click on Apply to see results

Featured Insights

After the financial crisis of 2008, risk management became a top priority for most businesses. MetricStream, a...

An Employee Stock Ownership Plan (ESOP) can be an effective way to create liquidity as well as serve as a means to...

Self-confidence is a valuable trait for any CEO, but it should be blended with a willingness to accept help when it’...

The growth of U.S. exports is a trend that should continue along with a strengthening global economy, says a report...

Banks are increasing commercial real estate (CRE) loans at a rate...

Bizjournals.com reports on Sept 22 that existing home sales fell in August for the first time in four months as...

A new bill signed into law on Sept. 19,...

Every bank is going to tell a prospective client that they can serve their needs, but asking the right questions...

It doesn’t have to be a total loss when the bank turns down your request for a loan to expand your business. When...

Recent News

01/27/15
Record Annual Earnings of $17.6 Million, Strong Loan Growth, Excellent Credit...
01/07/15
San Jose, CA – January 7, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
12/16/14
San Jose, CA – December 16, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
12/16/14
San Jose, CA – December 16, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
12/04/14
San Jose, CA –December 4, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
10/28/14
San Jose, CA – October 28, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
10/16/14
Conference Call and Webcast Scheduled for Thursday, October 16, 2014 at 5:00 p.m....
10/14/14
San Jose, CA – October 14, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
10/02/14
San Jose, CA – October 02, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
10/01/14
Bridge Bank's Holding Company Admitted to the Sandler O'Neill Sm-All Stars Class of...

Twitter

Featured Insights

Featured Insight

After the financial crisis of 2008, risk management became a top priority for most businesses. MetricStream, a...

Featured Insight

An Employee Stock Ownership Plan (ESOP) can be an effective way to create liquidity as well as serve as a means to...

Featured Insight

Self-confidence is a valuable trait for any CEO, but it should be blended with a willingness to accept help when it’...

Recent News

Banks are increasing commercial real estate (CRE) loans at a rate...

A new bill signed into law on Sept. 19,...

Twitter