Small businesses have turned to borrowing to survive periods of prolonged slumping sales, in many cases from government programs offering loan forgiveness. This increased borrowing has masked rising delinquent balances, but such a solution is a short-term fix. Small businesses will need to find ways to generate revenue to keep their credit current. Defaults are expected to rise in coming quarters as forbearance programs expire and as customers are likely to change their priorities in the wake of COVID-19.
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.
Student loan debt has been increasing year-over-year since the 1990s. Experian Commercial Data Sciences is monitoring the effect student loans have on small-business creation and survival. This paper examines whether or not student debt is hampering the ability to open new businesses and keep them open
Experian Business Information Services did a data study of 2.5 million small business owner profiles and analyzed the data, comparing small business owners with average consumers. In this webinar Peter Bolin, Director of Consulting & Analytics for Experian shares the results of this research.
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