The Thomson Reuters/PayNet Small Business Lending Index reached 145.2 in August, marking the second highest reading since 2005.

On a year-over-year basis, the SBLI is up 13% compared to July 2014 and makes for the 28th monthly increase in lending activity and investing by small businesses.

“At times of shifting foreign economies and softness for big companies, this latest data release shows small business a key driver for the U.S. economy,” said William Phelan, president of PayNet.

Borrowings and investments increased in all of the 10 largest states on a year-over-year basis, with the biggest increases in Florida (+10%), California (+8%) and Pennsylvania (+9).

The Thomson Reuters/PayNet Small Business Delinquency Index (SBDI) 31-90 days past due decreased two basis points from 1.23% in June 2015 to 1.21% in July 2015. Compared to one year ago, delinquency decreased three basis points, marking the first month since April 2014 that delinquency has declined on a year-over-year basis.

“All of this means positives for the economy, more capex spending, more job openings and above average credit quality for loans in the remainder of 2015,” said Phelan.