Hints of Improvement for the Small Business Economy

Posted by: Nick Leiber on February 2, 2010

Now for some good news. The small business economy is finally showing hints of improvement, according to William Phelan, the co-founder and CEO of commercial lending data provider PayNet, which collects loan information from several hundred capital equipment lenders around the country on a monthly basis. During a meeting this morning at Bloomberg’s New York offices, Phelan said his company’s small business lending index showed defaults by private companies on term loans of $1 million or less fell for the first time in two years this December. He thinks this is significant because until this November double-digit default rates had been the norm. Phelan said small business owners were starting their “gradual march to expansion,” though demand for loans this December was down 39% compared to December 2006.

You can catch an interview with Phelan on Bloomberg’s Market Surveillance radio show tomorrow morning around 7:50 am EST when John Tucker leads his daily small business report.

Reader Comments

Grace Kelly

May 5, 2010 10:06 AM

Undoubtfully great story u got here. It'd be just great to read a bit more concerning that theme. Thanks for sharing this material.

Grace Kelly
B2B directory

JANETMCKENZIE32

May 18, 2011 8:26 AM

That is known that cash makes us independent. But how to act if somebody has no money? The only one way is to get the business loans or small business loan.

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About

What's it like to run your own company today? Entrepreneurs face multiple hurdles new and old, from raising capital and managing employees to keeping up with technology and competing in a global marketplace. In this blog, the Small Business channel's John Tozzi and Nick Leiber discuss the news, trends, and ideas that matter to small business owners. Follow them on Twitter @newentrepreneur.

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