Small Business Borrowing in North Carolina on the Rise in November
Chicago, IL, February 1, 2018 (Newswire.com) - PayNet, the leading provider of small business credit assessments on private companies, announces that in November 2017 borrowing is rising in North Carolina. Of the 18 major industries, 10 increased and 7 dropped in North Carolina.
Registering at 118.6, the PayNet Small Business Lending Index (SBLI) for North Carolina rose 1.0% from the previous month's state level and was 17.9% greater than the national SBLI level of 100.6 this month. We can cautiously anticipate improving financial conditions in North Carolina based on recent small business investment.
Wholesale Trade (31.7%); Admin & Support and Waste Management & Remediation Services (23.8%); and Other Services (23.4%) were the industries with the largest improvement in lending activity over the past year in North Carolina. Nationally, Wholesale Trade grew by 5.5% year over year.
At 1.71%, the PayNet Small Business Default Index (SBDFI) for North Carolina was 11 basis points under the national SBDFI level of 1.82% after a comparable value to last month. The national SBDFI dropped 1 basis points year-over-year, while North Carolina's SBDFI dropped 3 basis points.
"Time will tell how these conditions will affect North Carolina's economy going forward," states the president of PayNet, William Phelan.
Source: PayNet
