Cause for SBA loan optimism in the new year

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This year was the fourth in a row of year-over-year improvement in the Thomson Reuters/PayNet Small Business Lending Index, which measures the volume of commercial loans made to small firms. The index is now above pre-recession levels, according to The Washington Post.

There are additional reasons to be enthusiastic about the state of business financing in the coming year for small companies. A mere 1.14 percent of small-business borrowers were more than a month behind on loan repayments in October, a number that has fallen or remained unchanged in every month so far in 2013. Two years ago, 3.03 percent of small-business owners were behind on their loans. Improving credit health means more opportunities to borrow for small-business owners.

The Small Business Administration will also help bolster business financing opportunities in 2014. As Jeanne Hulit, the acting administrator of the SBA, announced in October, the agency will waive fees associated with all loans of amounts up to $150,000.

This step will help increase access to capital, which Hulit said "is good for these, businesses, it's good news for their neighborhoods and communities, and it's good news for our economy," according to the Post.

News Source : Cause for SBA loan optimism in the new year

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