Newtek has announced the release of the SB Authority Index of small business indicators for May 2014 which reached 127.41 points. The Russell Microcap Index, approved SBA lending volumes and new business formations led the increase. The SB Authority Index is up 0.37% from April 2014. On a year-over-year comparison, the SB Authority Index is up 7.31%.
Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “Without the impetus from lower interest rates driving increases in the stock market and banks’ willingness to lend more money, the small business economy would certainly be in tough shape. In the first quarter we observed challenges with retail and consumer spending; trends which were recognized in May by our sub-indices which comprise the SB Authority Index.”