The September release of the Thomson Reuters/PayNet Small Business Lending Index (SBLI) increased 14% compared to September 2013. The SBLI Increased 6% from 118.5 in August 2014 to 125.4 in September 2014, providing another data point for increased expansion of the small business economy through more borrowing to expand property, plant and equipment.

“Wringing fear from the investor base has proven formidable, as U.S. small businesses and lenders remain towards the cautious side of the risk taking scale,” said William Phelan, president of PayNet.

Risk ticked up again in September compared to a year ago, as a further sign of normalization where increased risk is matched with higher reward. The Thomson Reuters/PayNet Small Business Delinquency Index (SBDI) 31-90 days past due registered 1.26% in September 2014, 9 basis points higher than September 2013. Although delinquencies are lower versus August 2014 by 1 basis point, the trend toward higher loan delinquencies is consistent with rising investment. As more businesses borrow more to make more investments, some of them will find it tougher to pay loans back on time.

The SBDI 91-180 days past due at 0.31% stands above the all-time low of 0.29%. Compared to one year ago, severe delinquency is up 9% (3 basis points), the fifth consecutive month of year-over-year increases.