The overall outlook for small-business credit is positive. Outstanding balances rose in the second quarter, as did the average balance per business. Delinquency rates continued the downward trend they have maintained through the expansion, and default rates stabilized at the level they reached last quarter. Continuing strength in the economy will keep small-business credit performance strong through the end of the current expansion, if not longer. Rising rates and destabilizing trade policy are potential sources of trouble, but thus far they haven’t slowed down small-business credit growth.
For many companies, the greatest opportunities for growth lie in increased digitalization and new technology that enable organizations to accelerate their digital transformation.
Download our new white paper to get a closer look at five ongoing technology trends that are likely to advance throughout the year.
Access our latest white paper to discover current collections industry trends, outlook for 2021 and the benefits of leveraging data and analytics to make more profitable decisions and better serve consumers in times of extreme economic uncertainty.
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.
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.
Share