Despite higher interest rates, more fast growth CEOs report new bank loans and increased credit lines: many more considering non-traditional financing in next 12 months.(headlines)

PricewaterhouseCoopers' Trendsetter Barometer interviewed CEOs of 355 privately held product and service companies identified in the media as the fastest growing U.S. businesses over the last five years. The surveyed companies range in size from approximately $5 million to $150 million in revenue/sales.

In the third quarter, fast-growth CEOs continued to predict a healthy increase in their company's revenues over the next 12 months. Confident, and resolute about planned new capital investments, more of them completed new bank loans and boosted their available credit, despite higher interest rates.

New bank loans were completed by 19 percent, up from 15 percent in the prior quarter. Product companies led the way: 122 percent obtained new loans, compared to 17 percent of service businesses. In addition, 22 percent increased their credit lines, up from 18 percent in the prior quarter. The average increment was 7.5 percent, versus 7.3 percent in the prior quarter. Both product and service companies saw similar increases: On the product side, 22 percent increased their credit lines by an average of 7.2 percent, versus 23 percent of service companies uplifting, on average, 7.8 percent.

New borrowers were notably larger than non-borrowers, averaging $39.0 million in revenues, versus $27.4 million, respectively. But despite their larger size, they are expecting stronger revenue growth over the next 12 months, averaging 28.2 percent, versus 18.6 percent, respectively. They are also well ahead of the curve in prior five-year revenue ...