Loading...

Eastern states continue to pay late

March 13, 2014 by Stacie Baker

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.

Sign up for the Quarterly Business Credit Review Webinar on March 18.

Download the full Experian/Moody’s Analytics Small Business Credit Index report.

Related Posts

Know Your Customer (KYC) procedures are a requirement for banks and other financial institutions to collect and verify the...

March 21, 2024 by Stefani Wendel

Student loan borrowers may face new challenges and fears once payments resume. Learn about the implications and how loan servicers and lenders can respond.

June 20, 2023 by Theresa Nguyen

According to Experian’s State of the Automotive Finance Market Report: Q2 2022, the average new vehicle interest loan rate...

September 20, 2022 by Melinda Zabritski