This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Survey: Small Biz Lending Restrained S In Dec.

NEW YORK (AP) â¿¿ Small businesses were still restrained in their borrowing in December as they awaited the outcome of tax and budget talks in Congress.

That's the finding of a survey of small business lending released Monday by PayNet, a firm that provides credit ratings on small businesses. The Thomson Reuters/PayNet Small Business Lending index edged up to 112 from a revised 111.1 in November.

The cautious borrowing was in line with other reports on small business activity during December. Owners were waiting to see whether Congress would raise taxes and slash the federal budget. Lawmakers raised taxes on individuals earning at least $400,000, and couples earning at least $450,000. That affected some owners who report their business income on their personal tax returns. Lawmakers put off action on budget cuts until March.

The first economic reports for January show that businesses stepped up activity once Congress resolved the question of 2013 taxes. The government said Friday that employers added 157,000 jobs last month. And the Institute for Supply Management said its indexes of manufacturing and service sector activity both rose. That may translate into more lending by small companies when PayNet issues its January report, due out in early March.

But the PayNet survey showed that borrowing was little changed over the course of 2012. In December 2011, its index stood at 110.5, giving it a gain of just 1.5 for the year. Other surveys during 2012 showed that business owners were worried about the economy, the presidential election and the tax and budget talks in Washington. Many said they wouldn't hire or expand because of the uncertainty.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,752.93 +133.42 0.76%
S&P 500 2,076.47 +13.36 0.65%
NASDAQ 5,019.8840 +33.0170 0.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs