Small Business Defaults in Georgia on the Decline in January
Atlanta, GA, March 15, 2018 (Newswire.com) - PayNet, the leading provider of credit ratings on small businesses, reports that in January 2018 overall defaults improved within Georgia's small businesses. Of the 18 major industries, defaults dropped in 10 and rose in 7 in the state compared to the previous month.
Despite a 3 basis point drop from December, Georgia's PayNet Small Business Default Index (SBDFI) at 1.98% was still 16 basis points higher than the national SBDFI level of 1.82%. The national SBDFI dipped 2 basis points over the last year, while Georgia's SBDFI fell 13 basis points.
Information (5.38%); Transportation and Warehousing (5.06%); and Admin & Support and Waste Management & Remediation Services (3.04%) displayed the highest default rates of all industries in Georgia. Nationally, Information had a default rate of 3.14%, with a difference of +0.83% compared to the prior year, while Georgia had a variance of +2.22%.
At 96, the PayNet Small Business Lending Index (SBLI) for Georgia fell 0.1% from the previous month's state level and was 5.6% below this month's national SBLI level (101.7).
" Small business borrowers are being cautious and holding off on new investment.," explains the president of PayNet, William Phelan.
Source: PayNet, Inc.
