Small businesses increased hiring for the holidays funded by credit while servicing their outstanding debts. The moderately delinquent balances for small businesses declined to 1.21 percent in the fourth quarter from 1.60 percent at the same time last year. Taxes are a rising issue for small businesses, but increasing concerns here did not dampen borrowing or hiring in the fourth quarter. The availability of credit has cushioned the blow of the pandemic for now and a third stimulus will help insulate small businesses from altered consumer spending patterns.
In this report, Experian® data scientists and analysts take a deep look at one of the most popular lending products in the industry, the unsecured personal loan. Our team offers key insights into the consumer credit landscape and analyze trends on this emerging and important industry segment using historical data from August 2018 to December 2022.
Explore state-level and industry-level data that banks, credit unions and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
Join us for the latest updates regarding the macroeconomic forecast and regional trends. Our experts will conduct a deep dive into changing trends as a result of COVID-19, featuring all-new data and implications.
Explore state-level and industry-level data that banks, credit unions and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
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