Kentucky Small Business Borrowing Stalls in January: PayNet

PayNet, the leading provider of small business credit assessments on private companies, announces that in January 2018 borrowing is sluggish in Kentucky. Of the 18 major industries, 7 rose and 11 declined in the state.

Coming in at 94.8, Kentucky's PayNet Small Business Lending Index (SBLI) performed comparably to last month's state level, but was 6.7% below the national SBLI level of 101.7 this month. The index is basically unchanged from a year ago.

Wholesale Trade (25.6%); Construction (7.1%); and Transportation and Warehousing (6.4%) were the three industries with the most favorable performance over the past year in Kentucky. Nationally, Wholesale Trade grew by 3.8% year over year.

PayNet’s Small Business Default Index (SBDFI) for Kentucky registered at 1.88%. After a similar performance to the previous month, Kentucky's SBDFI was 6 basis points above the national SBDFI level of 1.82%. Kentucky's SBDFI climbed 9 basis points year-over-year, whereas the national SBDFI improved 2 basis points.

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

Source: PayNet, Inc.

Categories: Economy

Tags: Credit Trends, SBDI, SBLI, Small Business

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PayNet is the leading provider of credit ratings on small businesses, enabling lenders to achieve optimal risk management, growth and operational efficiencies. We serve as trusted, strategic advisors to banks and commercial finance institutions.

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