Experian and Moody’s Analytics have just released the Q1 2021 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 business credit performance hedged down slightly in Q1. But, pent-up savings, massive fiscal support, and the winding down of the Covid-19 pandemic will be driving forces for the economy and small businesses going forward in a post-pandemic recovery.
Small businesses with fewer than 40 employees added 277,000 jobs in the first quarter, and by the end of 2021 the economy is slated to add nearly 5 million jobs as businesses reopen.
After a PPP-induced decline in delinquency, the 31-90 days past due rate ticked up to 1.28 percent in the first quarter, from 1.21 percent in the fourth quarter, down from 1.61 percent one year ago.
Despite a narrative that inflation is rapidly developing, small business owners seem unconcerned. The most recent NFIB survey of most important problems places inflation worries in single-digit territory.
If you would like to get the full analysis of the data behind the latest Main Street Report, watch our Quarterly Business Credit Review webinar. Just scan the code or go to the short link and remember to download your copy of the latest report.