More Connecticut businesses accessed lines of credit in the second quarter compared to a year ago, according to a survey by the Connecticut Business & Industry Association and Farmington Bank.
The survey of 219 businesses found that 31 percent are using vendor credit, up from 23 percent a year ago.
Slightly more businesses said credit availability was a problem, but the increase from 16 percent to 18 percentwas well within the survey’s 6.8 percent margin of error.
The 18 percent who said credit availability was a problem said they were less willing to let go of employees, with 14 percent of that category saying they reduced their workforce as a result. That was down from 36 percent in the second quarter of 2013.
However, employees working for credit-challenged companies were likely to feel the impact in other ways. Of those companies, 29 percent said they had reduced worker pay or benefits, up from 20 percent last year.
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