US small business

According to the stats provided by PayNet, borrowing by small businesses in the United States increased at a record pace in May, which is a good sign of that economic growth is accelerating.

Meantime, the Thomson Reuters/PayNet Small Business Lending Index which measures the overall volume of financing to U.S. small businesses increased by 26% in May from a year earlier.

Small businesses borrowing is a significant support for the economy because they give about 80% of hiring. The loans PayNet tracks are typically used to buy or update plants and equipment.

 A survey by Chase Card Services, the credit card division of JPMorgan Chase & Co, that was released on Friday showed that a significant number of American small businesses believe the economy will improve in three to six months and are enthusiastic about pu