Reuters: Small Business News: Small business lending cools in April for fourth month

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Small business lending cools in April for fourth month Jun 1st 2012, 09:13 Tweet Share this Email Print Related News Consumer confidence cools in May Tue, May 29 2012 May consumer sentiment highest in more than four years Fri, May 25 2012 Analysis & Opinion What could hold back the start of a recovery in housing this year? Who truly speaks for small businesses? A shop displays its wares on its window along Hollywood boulevard in Hollywood, California February 22, 2012. Credit: Reuters/Mike Blake NEW YORK | Fri Jun 1, 2012 5:13am EDT NEW YORK (Reuters) - Lending to small business in the United States eased in April for the fourth month in a row as companies were hesitant to bulk up their operations, boding poorly for stronger economic growth, a report showed on Friday. The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to U.S. small businesses, fell to 94.1 from 96.0 in March, PayNet said. Compared with a year earlier borrowing rose 7 percent, the lowest 12-month growth rate since July 2010. The lending index is correlated with changes in overall economic growth several months in advance. "These businesses are cautious," said PayNet founder Bill Phelan. "They're holding back on new investments and expansions in their businesses, and that's really a result of the view of uncertainty in the marketplace." Accounts in moderate delinquency, or those behind by 30 days or more, fell to 1.29 percent from 1.39 percent in March. That's far below the high of 4.42 percent reached in May 2009. Accounts 90 days or more behind in payments, or in severe delinquency, edged down to 0.35 percent from 0.36 percent. Accounts behind 180 days or more, considered to be in default and unlikely ever to be paid, eased to 0.43 percent from 0.48 percent. PayNet collects real-time loan information, such as originations and delinquencies, from more than 250 leading U.S. capital equipment lenders. (Reporting By Leah Schnurr; Editing by Chizu Nomiyama) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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