Though the U.S. economy is steadily recovering, it has not yet begun to experience a burst of rapid growth that would help the nation return to pre-recession employment levels. For many business owners, this means a feeling of cautious optimism on a day-to-day basis.
It is possible, however, that they may soon experience some relief. According to a recent article in the Washington Post, small business lending appears to be picking up steam.
Lately, the Thompson Reuters/PayNet Small Business Lending Index—which measures new loans to small businesses—has averaged 110.4. It was only 103.6 last year, according to the Post. In fact, the average has increased every year since 2009. Though many in the business world worried that the October government shutdown would stymie this process, that has yet to come to pass.
Surprisingly, some believe that the Dodd-Frank banking reform bill may actually be partially responsible.
"Big banks have begun to feel the pressure to lend more money with the Dodd-Frank reform bill nearing," Rohit Arora, chief executive of online small business lending platform Biz2Credit told the news source. "We should expect to see more changes accordingly in the next year."
There is other good news out of the industry. The news source noted that small businesses have been much better at keeping up with their payments. in October, 1.14 percent of businesses were more than a month behind on their loans, compared to 1.31 percent in January.
It is a sign of the strengthening economy that more business owners can afford to pay back what they owe. But this is no reason for lenders to stop being vigilant. They must continue to use risk assessment tools before making new loans to borrowers.
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Though the U.S. economy is steadily recovering, it has not yet begun to experience a burst of rapid growth that would help the nation return to pre-recession employment levels. For many business owners, this means a feeling of cautious optimism on a day-to-day basis.
It is possible, however, that they may soon experience some relief. According to a recent article in the Washington Post, small business lending appears to be picking up steam.
Lately, the Thompson Reuters/PayNet Small Business Lending Index—which measures new loans to small businesses—has averaged 110.4. It was only 103.6 last year, according to the Post. In fact, the average has increased every year since 2009. Though many in the business world worried that the October government shutdown would stymie this process, that has yet to come to pass.
Surprisingly, some believe that the Dodd-Frank banking reform bill may actually be partially responsible.
"Big banks have begun to feel the pressure to lend more money with the Dodd-Frank reform bill nearing," Rohit Arora, chief executive of online small business lending platform Biz2Credit told the news source. "We should expect to see more changes accordingly in the next year."
There is other good news out of the industry. The news source noted that small businesses have been much better at keeping up with their payments. in October, 1.14 percent of businesses were more than a month behind on their loans, compared to 1.31 percent in January.
It is a sign of the strengthening economy that more business owners can afford to pay back what they owe. But this is no reason for lenders to stop being vigilant. They must continue to use risk assessment tools before making new loans to borrowers.
[:es]Though the U.S. economy is steadily recovering, it has not yet begun to experience a burst of rapid growth that would help the nation return to pre-recession employment levels. For many business owners, this means a feeling of cautious optimism on a day-to-day basis.
It is possible, however, that they may soon experience some relief. According to a recent article in the Washington Post, small business lending appears to be picking up steam.
Lately, the Thompson Reuters/PayNet Small Business Lending Index—which measures new loans to small businesses—has averaged 110.4. It was only 103.6 last year, according to the Post. In fact, the average has increased every year since 2009. Though many in the business world worried that the October government shutdown would stymie this process, that has yet to come to pass.
Surprisingly, some believe that the Dodd-Frank banking reform bill may actually be partially responsible.
"Big banks have begun to feel the pressure to lend more money with the Dodd-Frank reform bill nearing," Rohit Arora, chief executive of online small business lending platform Biz2Credit told the news source. "We should expect to see more changes accordingly in the next year."
There is other good news out of the industry. The news source noted that small businesses have been much better at keeping up with their payments. in October, 1.14 percent of businesses were more than a month behind on their loans, compared to 1.31 percent in January.
It is a sign of the strengthening economy that more business owners can afford to pay back what they owe. But this is no reason for lenders to stop being vigilant. They must continue to use risk assessment tools before making new loans to borrowers.
[:it]Though the U.S. economy is steadily recovering, it has not yet begun to experience a burst of rapid growth that would help the nation return to pre-recession employment levels. For many business owners, this means a feeling of cautious optimism on a day-to-day basis.
It is possible, however, that they may soon experience some relief. According to a recent article in the Washington Post, small business lending appears to be picking up steam.
Lately, the Thompson Reuters/PayNet Small Business Lending Index—which measures new loans to small businesses—has averaged 110.4. It was only 103.6 last year, according to the Post. In fact, the average has increased every year since 2009. Though many in the business world worried that the October government shutdown would stymie this process, that has yet to come to pass.
Surprisingly, some believe that the Dodd-Frank banking reform bill may actually be partially responsible.
"Big banks have begun to feel the pressure to lend more money with the Dodd-Frank reform bill nearing," Rohit Arora, chief executive of online small business lending platform Biz2Credit told the news source. "We should expect to see more changes accordingly in the next year."
There is other good news out of the industry. The news source noted that small businesses have been much better at keeping up with their payments. in October, 1.14 percent of businesses were more than a month behind on their loans, compared to 1.31 percent in January.
It is a sign of the strengthening economy that more business owners can afford to pay back what they owe. But this is no reason for lenders to stop being vigilant. They must continue to use risk assessment tools before making new loans to borrowers.
[:tr]Though the U.S. economy is steadily recovering, it has not yet begun to experience a burst of rapid growth that would help the nation return to pre-recession employment levels. For many business owners, this means a feeling of cautious optimism on a day-to-day basis.
It is possible, however, that they may soon experience some relief. According to a recent article in the Washington Post, small business lending appears to be picking up steam.
Lately, the Thompson Reuters/PayNet Small Business Lending Index—which measures new loans to small businesses—has averaged 110.4. It was only 103.6 last year, according to the Post. In fact, the average has increased every year since 2009. Though many in the business world worried that the October government shutdown would stymie this process, that has yet to come to pass.
Surprisingly, some believe that the Dodd-Frank banking reform bill may actually be partially responsible.
"Big banks have begun to feel the pressure to lend more money with the Dodd-Frank reform bill nearing," Rohit Arora, chief executive of online small business lending platform Biz2Credit told the news source. "We should expect to see more changes accordingly in the next year."
There is other good news out of the industry. The news source noted that small businesses have been much better at keeping up with their payments. in October, 1.14 percent of businesses were more than a month behind on their loans, compa
red to 1.31 percent in January.
It is a sign of the strengthening economy that more business owners can afford to pay back what they owe. But this is no reason for lenders to stop being vigilant. They must continue to use risk assessment tools before making new loans to borrowers.
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