(Reuters) — The Thomson Reuters/Paynet Small Business Lending Index, which measures the overall volume of financing to U.S. small businesses, jumped 12 percent in April from a year ago, PayNet said. But the index, which sank about 1 percent on a seasonally adjusted basis from the prior month, is still more than 20 percent below its January, 2005 level. The hesitation that small businesses still have about taking on new debt suggests the economic recovery may not be running on all cylinders. With small businesses holding back on new investments, economic recovery is “on a plodding road,” said Bill Phelan, PayNet’s president and founder.
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