Missouri Small Business Defaults Unchanged in August
Chicago, IL, October 23, 2017 (Newswire.com) - PayNet, the premier provider of small business credit data and analysis for the commercial and industrial lending industry, reports that in August 2017 the percentage of Missouri's small businesses defaulting on loans has remained steady. Of the 18 major industries, 9 dropped and 6 increased.
Following a comparable performance to July, Missouri's PayNet Small Business Default Index (SBDFI) at 1.92% was 8 basis points greater than the national SBDFI level of 1.84%. Over the last year, Missouri's SBDFI increased 29 basis points, while the national SBDFI rose 8 basis points.
Transportation and Warehousing (4.61%); Professional, Scientific, and Technical Services (2.77%); and Construction (2.75%) exhibited the highest default rates of all industries in Missouri. Nationally, Transportation and Warehousing had a default rate of 4.51%, with a difference of +0.48% compared to the prior year, while Missouri had a variance of -0.40%.
Registering at 86.3, the PayNet Small Business Lending Index (SBLI) for Missouri declined 0.1% from the previous month's state level and was 13.1% below this month's national SBLI level (99.3). The Index is basically unchanged from a year ago.
"Time will tell how these conditions will affect Missouri's economy going forward," states the president of PayNet, William Phelan.
Source: www.paynet.com
