Credit conditions in Connecticut are improving, having reached its highest recordings since the second quarter 2008, according to a CBIA/Farmington Bank Credit survey.

"We still have a long way to go to reach the levels attained back in 2007 before the onset of the Great Recession," said CBIA Vice President and Economist Peter Gioia. "But these figures are promising and show our modest economic growth is beginning to loosen credit-welcome news for businesses."

A seemingly low percentage of business executives (14 percent) rated current credit conditions good or excellent, according to the survey. However, it’s the highest percentage reported in more than a year.

A reported 36 percent said current conditions are poor or fair, the lowest number since the third quarter 2008. Fewer than one-third of respondents (31 percent) expect credit conditions to deteriorate.

Credit conditions are expected to continue improving over the next three months, with 17 percent reporting credit availability going forward will get better, a 10 percent increase from the previous quarter and 9 percent more than one year ago.

"The optimism expressed by business owners about future credit conditions is a very good sign," said Marie O’Brien, president of the Connecticut Development Authority (CDA). "We have been there as a patient lender, providing needed financing and helping businesses through the recession, and now we are standing with them shoulder-to-shoulder helping them step up during these more positive times."