U.S. small business borrowing rises to highest on record

U.S. small businesses ramped up borrowing in October, pushing the Thomson Reuters/PayNet Small Business Lending Index to a record high, according to data released on Tuesday. 


The reading of 131.8, up from 127.1 in September, was the highest since the index launched in 2005. The previous record was set in January 2007; later that year, the nation's economy fell into its deepest downturn in decades, a recession from which it has yet to fully recover.