Colorado Small Business Defaults Down in December, as is Borrowing

Data published by PayNet indicate that the percentage of Colorado's small businesses defaulting on loans has fallen and the level of borrowing activity worsened in December 2017.

Following a 6 basis point fall from November, Colorado's PayNet Small Business Default Index (SBDFI) at 1.74% was 9 basis points less than the national SBDFI level of 1.83%. The national SBDFI has remained steady over the last year, whereas Colorado's SBDFI declined 27 basis points.tes in Colorado were Mining, Quarrying, and Oil and Gas Extraction (3.31%); Transportation and Warehousing (3.14%); and Information (3.08%). Nationally, Mining, Quarrying, and Oil and Gas Extr
The three industries with the highest default raaction had a default rate of 2.70%, with a difference of -2.18% compared to the prior year, while Colorado had a variance of -3.93%.

The PayNet Small Business Lending Index (SBLI) for Colorado was 103.5, outperforming the national SBLI level (100.3) despite falling by 1.6% from last month's state level. The Index is basically unchanged from a year ago.

" Declining default rates in Colorado over the past year signal improved financial health in the state," asserts William Phelan, president of PayNet.  

Source: PayNet


Categories: A&E News, Economy, Small Business, Local News, Commercial Banking

Tags: Banking, Colorado, Credit History, Credit Trends, Economy, Local News, PayNet, SBDFI, SBDI, SBLI, Small biz, Small Business


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