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June 5, 2017

Small businesses hold fast in their aversion to debt

By JOYCE M. ROSENBERG
AP Business Writer

Small business owners are holding fast to their aversion to taking on more debt, even though they're optimistic about the future.

That's the finding of a recent report on small business credit from 12 Federal Reserve regional banks across the country. The report, based on a 2016 survey of businesses that have employees, found that about three-quarters of company owners used personal funds when their businesses needed cash, instead of seeking financing including loans. And only 19 percent of companies expect to increase their debt level this year, down from 34 percent that did so in 2016.


 
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