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A path forward after SBA discontinued the use of the FICO Small Business Scoring Service (“SBSS”) for 7(a) Small Loan underwriting.
Small businesses navigated headwinds in May as uncertainty began to rise May 2026 Index Value (Mar): 51.2 Previous Month: 52.2 MoM: -1.0 YoY: +6.0 (May 2025 = 57.2) The Experian Small Business Index™ decreased slightly, falling 1 point to 51.2 in May, but remained 6 points higher than a year ago. Several credit risk factors supported the index in May. Past-due balances on business owners' consumer accounts declined, as did later-stage delinquencies on their commercial accounts. However, several factors weighed on the index. Commercial credit utilization increased, and there was a sharp rise in consumer public records filings. While public records are typically a lagging indicator, this trend warrants monitoring in the coming months. In the broader economy, the unemployment rate declined to 4.2% from 4.3%, and GDP grew by 2.1%, exceeding expectations. Several measures of inflation also increased in May. Headline inflation rose from 3.8% in April to 4.2%, while core inflation, which excludes food and energy, increased from 2.8% to 2.9%. Energy prices were 23.5% higher than a year earlier and likely contributed to broader inflationary pressures. Food prices declined 0.1%, while rent increased 0.1%. Business formation remained strong, with 524,000 new business applications filed in May, up from 505,000 in April. This occurred despite the NFIB Uncertainty Index increasing to 91. The NFIB Small Business Optimism Index edged down to 95.3 in May from 95.9 in April. Explore Experian Small Business Index Related Posts
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