Small Business Defaults in Georgia on the Decline in June
Chicago, IL, August 8, 2017 (Newswire.com) - PayNet, the premier provider of credit ratings on small businesses, reports that in June 2017 fewer of Georgia's small businesses defaulted on existing loans, with default rates in 11 of the 18 major industries falling in the state.
In spite of a 5 basis point dip from May, Georgia's PayNet Small Business Default Index (SBDFI) at 1.99% was still 13 basis points higher than the national SBDFI level of 1.86%. The decrease in defaults over the past two months may signal better business conditions in the state. Year-over-year, the national SBDFI rose 16 basis points, whereas Georgia's SBDFI fell 1 basis point.
The industries with the highest default rates in Georgia were Transportation and Warehousing (5.13%); Agriculture, Forestry, Fishing and Hunting (3.32%); and Information (2.86%). Nationally, Transportation and Warehousing had a default rate of 4.57%, with a difference of +0.68% compared to the prior year, while Georgia had a variance of +0.29%.
Registering at 95.3, the PayNet Small Business Lending Index (SBLI) for Georgia improved 0.5% from last month's state level, but was 3.4% lower than the national SBLI level of 98.7 this month. Year-over-year, business investment deteriorated 2.0%.
"The performance of defaults over the past recent months may foster a better lending environment," asserts William Phelan, president of PayNet.
Source: www.paynet.com
