Georgia Small Business Defaults Down in November, Borrowing Up

Data published by PayNet illustrate that the percentage of small businesses defaulting on existing loans has fallen in Georgia and the level of borrowing activity increased in November 2017.

Despite a 4 basis point fall from October, Georgia's PayNet Small Business Default Index (SBDFI) at 1.95% was still 13 basis points higher than the national SBDFI level of 1.82%.  The national SBDFI declined 1 basis point over the last year, while Georgia's SBDFI dipped 21 basis points.

The industries with the worst default rates in Georgia were Information (5.05%); Transportation and Warehousing (4.61%); and Retail Trade (3.22%). Nationally, Information had a default rate of 2.96%, with a difference of +0.73% compared to the prior year, while Georgia had a variance of +2.52%.

Georgia's PayNet Small Business Lending Index (SBLI) registered at 96.4, up 1.4% from the previous month's state level, but 4.1% beneath this month's national SBLI level (100.6).

"Time will tell how these conditions will affect Georgia's economy going forward," asserts the president of PayNet, William Phelan.

Source: PayNet

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