Small Business Borrowing in Georgia Down in April
Chicago, IL, June 14, 2017 (Newswire.com) - PayNet, the premier provider of small business credit assessments on private companies, announces that in April 2017, borrowing is deteriorating in Georgia, with 12 of the 18 major industries falling in the state.
The PayNet Small Business Lending Index (SBLI) for Georgia was 94.6, down 1.6% from the previous month's level and 3.7% beneath this month's national SBLI level (98.2). Small business borrowers are behaving more cautiously by reducing investment.
Health Care and Social Assistance (-14.4%); Transportation and Warehousing (-11.9%); and Wholesale Trade (-10.6%) were the three industries with the most unfavorable performance over the past year in Georgia. Nationally, Health Care and Social Assistance fell by -13.4% year over year.
PayNet's Small Business Default Index (SBDFI) for Georgia registered 2.13%. After a comparable performance to last month, Georgia's SBDFI was 23 basis points greater than the national SBDFI level of 1.90%. The national SBDFI rose 26 basis points year-over-year, while Georgia's SBDFI climbed 20.
"Time will tell how these conditions will affect Georgia's economy going forward," explains the president of PayNet, William Phelan.
For more information on PayNet, visit www.paynet.com.
Source: PayNet
