News: General News

Small Business Credit Conditions Are Strong

Tuesday, May 16, 2017  
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Small businesses started the year on a positive note with a decline in early delinquencies (less than 30 days past due) and severe delinquencies (more than 90 days past due), according to the latest Experian/Moody’s Analytics Main Street Report. 

 

The first quarter of 2017 also saw single-digit gains in credit balances (up 8.8 percent) driven by strong credit utilization rates, while credit limits increased by 4.5 percent.

 

“The market performance data and insights on trends help our small businesses and lenders make more informed decisions,” said Gavin Harding, senior business consultant for Experian. “So, while we see that delinquencies are declining and credit limits and utilization rates among small-businesses owners are increasing, we also understand that small businesses don’t have adequate credit to expand at their desired pace. If economic conditions continue to improve this year, we should see financial institutions start to increase credit availability for small-business owners.”

 

Agriculture stands out as an industry bright point, despite four years of declining income for farmers. Performance in the manufacturing, transportation and public administration industries, however, wasn’t as strong.

 

View the full report. 

 

 

 


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9/25/2017
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