(By Ann Saphir) - Borrowing by small U.S. businesses jumped in August, a bright spot in an economy whose weaknesses are so pronounced that the Federal Reserve last month launched a new program aimed at encouraging just such borrowing.
The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to U.S. small businesses, gained 19 percent in August from a year earlier, and 8.6 percent from July, PayNet said on Monday.
It is at its highest since April 2008, after gaining by double digits every month for 13 months.
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