US companies using more of their credit lines to hire and expand

New York

US banks are reporting that companies are tapping more of their credit lines to fund hiring and expand their businesses, a promising sign for the economy.

Commercial borrowers are using two or three percentage points more of their credit lines than they were a year ago, reaching levels not seen since the financial crisis was at its height in 2009, senior officials at a number of major banks said in interviews and on conference calls this week.