Small companies typically take out loans to buy new tools, factories and equipment, so more borrowing can be an early signal of increased hiring ahead.  It's a good sign for the Federal Reserve, which is dialing down its massive bond-buying program in a nod to stronger growth and a rapid decline in the unemployment rate, which registered 6.7 percent in December.  The Fed, now chaired by Janet Yellen after Ben Bernanke's two-term stint ended last Friday, plans to end the bond-buying entirely before the year is out unless the economy does not continue to improve as expected.  (Read more: Start-up wins free Super Bowl ad worth millions)  Other recent data have not been as rosy, including reports Monday that showed U.S. manufacturing activity slowed sharply in January on the back of the biggest drop in new orders in 33 years.  Still, economists blame most of that weakness on frigid weather, and expect a rebound in coming months.  The U.S. economy grew at a 3.2 percent annual pace in the fourth quarter of last year, after growing at a 4.1 percent rate in the prior quarter.  A separate index showed small businesses have begun taking on slightly more risk, with delinquencies ticking up marginally from record lows.  (Read more: Web orders eat local pizza restaurants for lunch)  Delinquencies of 31 to 180 days in December ticked up to 1.47 percent of all loans made, from 1.46 percent in November, according to the Thomson Reuters/PayNet Small Business Delinquency Index.  A measure of accounts overdue as a percentage of all loans hit a high of 4.73 percent in August 2009. The record low was 1.44 percent last October.  PayNet collects real-time loan information such as originations and delinquencies from more than 250 leading U.S. lenders.
U.S. small businesses boosted borrowing in December, signaling that economic growth may continue apace in the early part of this year.