Small Businesses Taking on More Debt

New York, NY, Sept. 4, 2013 -- Small business optimism is on the rise, as indicated by their willingness to take on debt.

Small businesses added more debt in July, according to the Thomson Reuters/PayNet Small Business Lending Index.

The index of borrowing hit a six-year high, rising 11% in July to 117.7, the highest level since August 2007.

The index registered 105.7 in June.

PayNet said its index has correlated to overall economic growth one or two quarters ahead.