In Brief: Survey: Rates Fall a BitFor Short-Term Credit

Small-business owners paid slightly lower rates for short-term financing in February than in January, according to the National Federation of Independent Business.

The trade group's most recent survey of 800 members found that the average short-term interest rate these businesses paid was 9.8%, compared with 10.1% in January.

Thirty-four percent of the business owners said they borrowed regularly.

Only 3% said trouble finding financing was their worst problem, compared with 2% in December. More than 18% said taxes were the worst, and 17%, the quality of labor.

By comparison, in 1982 only 11% of the business owners said taxes were their greatest problem, and 37% listed credit availability.

The federation has thrown its support behind legislation that would let banks pay interest on deposits in business checking accounts. A recent survey of the trade association's 600,000 members found that 86% favored the idea.