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

Many startups choose to develop mobile apps, and this number continues to...

Business leaders need to understand their exposure to foreign exchange (FX) volatility and the risk it presents to...

The San Francisco Bay area has long been a hub for startups seeking funding and...

As one of the country's largest landowners, the federal government is in a...

The rise of trackers and monitoring devices coupled with the interconnectivity...

Launching a brand-new business into the market is always an exhilarating, yet...

Some founders and CEOs of fledgling startups may end up making the mistake of...

Since its inception in the mid-1900s, venture capital investment has grown from...

Once and awhile, something comes along that captures the imagination and...

Success in the world of biotechnology and life sciences requires a level of patience that is foreign to most types...

Recent News

09/14/16
This week, our client Sensity Systems, the established industry leader in Light...
09/07/16
SAN JOSE, CA – September 7, 2016 – Bridge Bank today announced the hiring of Michael...
08/23/16
SAN FRANCISCO, CA – August 23, 2016 – Bridge Bank today announced the hiring of...
08/10/16
Atlanta-based software company selects Bridge Bank for its technology industry...
08/08/16
MENLO PARK, Calif. - August 8, 2016 - Bridge Bank’s Equity Fund Resources Group (EFR...
08/02/16
San Jose, CA — August 3, 2016 — Bridge Bank today announced the hiring of Victor Le...
07/25/16
Durham, NC -- July 25, 2016 -- Bridge Bank’s Life Sciences Group (LSG) today...
07/21/16
San Francisco, CA -- July 21, 2016 -- Bridge Bank’s Life Sciences Group (LSG) today...
07/01/16
MONMOUTH JUNCTION, N.J, July 1, 2016 - CytoSorbents Corporation (NASDAQ: CTSO), a...
06/23/16
SUNNYVALE, CA -- 06/20/16 -- Viveve Medical, Inc. ("Viveve") (NASDAQ: VIVE), a...

Twitter

Featured Insights

Featured Insight

Business leaders need to understand their exposure to foreign exchange (FX) volatility and the risk it presents to...

Featured Insight

Success in the world of biotechnology and life sciences requires a level of patience that is foreign to most types...

Featured Insight

Valuations in the venture capital (VC) market are either in decline or flattening out, primarily due to inflated...

Recent News

Many startups choose to develop mobile apps, and this number continues to...

The San Francisco Bay area has long been a hub for startups seeking funding and...

As one of the country's largest landowners, the federal government is in a...

Twitter