NEW YORK – Small-business owners borrowed less during September, a sign that they’re still not confident enough to invest heavily in their businesses.

PayNet, a research firm that tracks loans to small businesses, reported Thursday that lending fell 14 percent after rising slightly in July and August.

The Thomson Reuters/PayNet Small Business Lending index fell to 94.1 in September from a revised 108.9 in August. The index, which is based on new commercial loans and leases granted to small businesses, was unchanged from October 2011. PayNet’s report came the same day that the payroll service firm ADP reported that small businesses hired at a cautious pace in October.