Whats New?

Small businesses are struggling to repay borrowed debts #debt #smallbusiness

According to the Thomson Reuters/PayNet Small Business Lending Index, small business borrowing is down while “the percentage of firms late on repaying existing loans” increased.  These numbers account for a 5th straight month of decline “with index at it’s lowest point since January.”

Despite the drop, “PayNet CEO and founder Bill Phelan sees a glass half full in the numbers, noting that a delinquency of 2 percent or higher was the norm for most of the pre-crisis era when the lending index was at a similar level.” That explains the current delinquency numbers which fall just below the 2% rate.  On another positive note, recent economic growth numbers have the US at a 3.2 percent pace in the third quarter.  This is a 0.3% growth from last quarters 2.9% number.

With a continued growth rate and more stability now that a President has been elected, expect the numbers to improve moving forward.

//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js

(adsbygoogle = window.adsbygoogle || []).push({});

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: