Colorado Small Business Defaults Down in December, as is Borrowing

By , in PR PR Health on .

Press Release updated: Feb 15, 2018 10:00 CST

Denver, CO, February 15, 2018 – Data published by PayNet indicate that the percentage of Colorado's small businesses defaulting on loans has fallen and the level of borrowing activity worsened in December 2017.

Following a 6 basis point fall from November, Colorado's PayNet Small Business Default Index (SBDFI) at 1.74% was 9 basis points less than the national SBDFI level of 1.83%. The national SBDFI has remained steady over the last year, whereas Colorado's SBDFI declined 27 basis points.tes in Colorado were Mining, Quarrying, and Oil and Gas Extraction (3.31%); Transportation and Warehousing (3.14%); and Information (3.08%). Nationally, Mining, Quarrying, and Oil and Gas Extr
The three industries with the highest default raaction had a default rate of 2.70%, with a difference of -2.18% compared to the prior year, while Colorado had a variance of -3.93%.

The PayNet Small Business Lending Index (SBLI) for Colorado was 103.5, outperforming the national SBLI level (100.3) despite falling by 1.6% from last month's state level. The Index is basically unchanged from a year ago.

” Declining default rates in Colorado over the past year signal improved financial health in the state,” asserts William Phelan, president of PayNet.  

Source: PayNet

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Jasmine Petters

Jasmine Petters

Jasmine hails from the city of Nizams, Hyderabad, and is currently pursuing her M.D. from there only. She is an internet wizard and has keen passion in All Things tech. She is a regular Comment contributor for The Daily Telescope and writes a Web column, in which she covers war, sports, and everything in between.
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