Small Business Borrowing in Washington Up in June
Chicago, IL, August 9, 2017 (Newswire.com) - PayNet, the leading provider of small business credit data and analysis for the commercial and industrial lending industry, reports that in June 2017 Washington's small firm borrowing activity increased. Of the 18 major industries, 12 rose and 6 fell in Washington.
Registering at 110.3, Washington's PayNet Small Business Lending Index (SBLI) rose 1.0% from last month's state level and was 11.8% above this month's national SBLI level (98.7). We can cautiously anticipate improving financial conditions in Washington based on recent small business investment.
The three industries with the greatest improvement in lending activity over the past year in Washington were Educational Services (29.4%); Admin & Support and Waste Management & Remediation Services (20.4%); and Arts, Entertainment, and Recreation (17.9%). Nationally, Educational Services fell by -3.4% year over year.
At 1.37%, PayNet’s Small Business Default Index (SBDFI) for Washington was 49 basis points less than the national SBDFI level of 1.86% after a comparable value to May. Compared to last year, the national SBDFI rose 16 basis points, while Washington's SBDFI rose 10 basis points.
"Time will tell how these conditions will affect Washington's economy going forward," asserts the president of PayNet, William Phelan.
Source: www.paynet.com
