Small Business Borrowing in Colorado Down in June
Chicago, IL, August 8, 2017 (Newswire.com) - In June 2017, borrowing fell in Colorado, with 13 of the 18 major industries deteriorating in Colorado, according to data published by PayNet.
At 102.5, Colorado's PayNet Small Business Lending Index (SBLI) exceeded the national SBLI level (98.7) despite falling by 1.4% from the previous month's state level.
The three industries with the greatest decline in lending activity over the past year in Colorado were Health Care and Social Assistance (-29.0%); Other Services (-12.4%); and Arts, Entertainment, and Recreation (-12.1%). Nationally, Health Care and Social Assistance fell by -11.9% year over year.
Following a comparable performance to the previous month, Colorado's PayNet Small Business Default Index (SBDFI) of 1.95% was 9 basis points higher than the national SBDFI level of 1.86%. The national SBDFI climbed 16 basis points year-over-year, while Colorado's SBDFI rose 8 basis points.
"More definitive trends are needed to gauge the future economic performance for Colorado," asserts the president of PayNet, William Phelan.
Source: www.paynet.com
