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Business money
Business money
(Helder Almeida/Getty Images/iStockphoto)

Business lending outpaces consumer lending: report

Business lending is now growing at a faster clip than consumer lending, according to new figures from the Canadian Bankers Association.

Business lending at Canada’s nine largest banks has expanded 35 per cent to $350-billion since the beginning of 2007, the CBA said in the report released Thursday.

Total authorized credit to businesses has grown 29 per cent, to $861-billion from $155-billion.