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Small businesses stepped up hiring in Q4 as performance improved – Main Street Report

February 9, 2021 by Gary Stockton

Experian and Moody’s Analytics have just released the Q4 2020 Main Street Report. The report brings deep insight into the overall financial well-being of the small-business landscape and offers commentary on business credit trends and what they mean for lenders and small businesses.  Small businesses increased hiring during the holiday season, offsetting some of the pandemic’s job losses. Many of these jobs were funded by credit while companies paid down outstanding debt.

This trend of paying down debt caused moderately delinquent balances to decline to 1.21 percent from 1.60 percent during the same time last year. There has yet to be a decisive upturn in delinquency and bankruptcy, as would be expected following the pandemic lockdowns of the previous year.

With a change in administration, small businesses are feeling concerned about taxes, as noted in recent NFIB surveys. But these growing concerns did not dampen borrowing or hiring during the fourth quarter.

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You can also save your seat for our upcoming Quarterly Business Credit Review webinar for a deep dive on the latest report.

Date: Tuesday, March 16th, 2021

Time: 10 a.m. (Pacific) | 1:00 p.m. (Eastern)

Q4 2020 Quarterly Business Credit Review

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