Small Business Lending Stalls in March

New York, NY, April 3, 2012 -- Small business lending was virtually unchanged in March for the second straight month, although it is substantially higher than a year ago, according to the Thomson Reuters/PayNet Small Business Lending Index.

The index was at 98.2 in March, down from 98.3 in February and is down from a reading of 110.5 in December.

PayNet's also said that lending is up 14 percent from a year ago.

PayNet bases its index on new commercial loans and leases granted to small businesses by the lenders in its database.

PayNet says applications for credit by small businesses are at about the same level as they were in June 2009.