PayNet: Small Business Lending Increases
After stepping backward in Q1/13, small business investment jumped forward in the last two months, according to the Thomson Reuters/PayNet Small Business Lending Index.
After stepping backward in Q1/13, small business investment jumped forward in the last two months, according to the Thomson Reuters/PayNet Small Business Lending Index.
Bloomberg reported that Fed officials have intensified efforts to curb a growth-threatening rise in long-term interest rates, seeking to clarify comments made by chairman Ben S. Bernanke.
Reuters reported that GE is looking to sell its CareCredit healthcare financing business in a deal that may be valued at about $2 billion.
AIG Commercial Asset Finance provided a $65 million senior secured term loan to Saltchuk Resources. The financing provides for capital expenditures for Saltchuk’s marine transportation operations.
The June Credit Managers’ Index of favorable factors remained above 60, which bodes very well for the future. The NACM said, “There is solid evidence of a resurging credit sector and that will likely lead to more overall economic progress.”
High Road Capital Partners was named 2013 Private Equity Firm of the Year at the Third Annual ACG New York Champion’s Awards Gala, held at the Metropolitan Club in New York City.
Fifth Street Finance said its portfolio showed an 11.4% weighted average yield last quarter, while also exhibiting record levels of origination in the first half of this year.
Based on a recent middle market survey, KeyBank says that contrary to predictions for 2013, middle market leaders have not been merger-minded with 57% indicating they will expand their businesses organically.
The most recent Phoenix Management “Lending Climate in America” Survey showed more lenders anticipating spreads to decrease. The percentage of lenders expecting to reduce their current interest rate spreads increased nine percentage points, representing 30% of total responses in Q2/13.
Capital Access Network set a new monthly record in May by providing small businesses access to $66 million of working capital. Also, CAN expanded its credit line to nearly $500 million with WFCF, Goldman, Fifth Third and Capital One.