Daily News: February 28, 2013

PayNet: Canada Commercial Lending Index Highest Since 2008


Commercial borrowing by small and medium-sized businesses in Canada hit its highest level since 2008 in the last three months of 2012, and a much smaller percentage of the businesses were behind on their payments, according to Reuters citing a recent PayNet survey.

PayNet said its Canadian Business Lending Index was up 6% in the fourth quarter from the third quarter and up 23% year-over-year, the article said.

Reuters added that the quarterly lending growth was ahead of that south of the border and quoted Anthony Zambon, director of PayNet Canada, as saying, “The Canadian small- and medium-business market is under steady expansion while the U.S. continues to muddle along.”

To read the full Reuters article click here.