While access to small-business credit is improving and credit balances are increasing, key differences still remain across the United States. Small companies in the Western states show the strongest improvements in delinquency rates, with Utah leading the way – both Salt Lake City and Provo ranked the lowest in the nation, with just a 0.08 percent delinquency rate. Eastern state small businesses are not recovering as quickly, with five metro areas in Florida ranked among the worst. Miami topped the chart as the worst-performing city in the nation, with 30.6 percent of balances paid late.
Given the trend, an uptick in bankruptcies seems probable for Florida and other high-delinquency states, including Washington, D.C.; Illinois; and Pennsylvania.