Georgia Small Business Defaults Up in December, Borrowing Down – PayNet

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

Atlanta, GA, February 15, 2018 – Data published by PayNet indicate that a greater number of Georgia small businesses defaulted on loans and the level of borrowing activity fell in December 2017.

PayNet’s Small Business Default Index (SBDFI) for Georgia registered at 2.00% after a 5 basis point rise from November. Georgia's SBDFI was 17 basis points higher than the national SBDFI level of 1.83%. Financial health is stronger than a year ago in the state despite the recent uptick in defaults. Year-over-year, the national SBDFI has remained steady, whereas Georgia's SBDFI declined 16 basis points.

The industries with the worst default rates in Georgia were Information (5.17%); Transportation and Warehousing (4.74%); and Admin & Support and Waste Management & Remediation Services (2.97%). Nationally, Information had a default rate of 3.14%, with a difference of +0.91% compared to the prior year, while Georgia had a variance of +2.33%.

The PayNet Small Business Lending Index (SBLI) for Georgia came in at 95.1, declining 1.7% from the previous month's level and 5.2% beneath this month's national SBLI level (100.3). The Index is basically unchanged from a year ago.

“Increased defaults combined with restrained borrowing signals a more pessimistic view of economic prospects,” explains 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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