Canadian small business lending slips in August: PayNet

Commercial borrowing by small businesses in Canada edged lower in August, data from PayNet showed on Wednesday, as companies adjust to the impact of cheaper oil prices on the country's economy. The decline in borrowing from the medium-sized businesses was less surprising because those are firms that are tied to the energy sector, said PayNet's president Bill Phelan. At just 2 percent growth for small business borrowing compared to a year ago, that barely keeps up with replacement needs for worn