North Carolina Small Business Borrowing Stalls in June

Chicago, IL, August 9, 2017 (Newswire.com) - ​PayNet, the leading provider of small business credit data and analysis for the commercial and industrial lending industry, reports that in June 2017 borrowing is stagnant in North Carolina. Of the 18 major industries, 9 rose and eight dropped in North Carolina.

The PayNet Small Business Lending Index (SBLI) for North Carolina came in at 111.3, surpassing the national SBLI level (98.7) and performing comparably to the previous month's state level.

The three industries with the most favorable change in lending activity over the past year in North Carolina were Admin & Support and Waste Management & Remediation Services (28.3%); Accommodation and Food Services (23.2%); and Wholesale Trade (20.8%). Nationally, Admin & Support and Waste Management & Remediation Services grew by 5.6% year over year.

Following a similar performance to the previous month, North Carolina's PayNet Small Business Default Index (SBDFI) of 1.67% was 19 basis points under the national SBDFI level of 1.86%. Year-over-year, the national SBDFI climbed 16 basis points, while North Carolina's SBDFI rose 3 basis points.

"More definitive trends are needed to gauge the future economic performance for North Carolina," asserts William Phelan, president of PayNet.  

Source: www.paynet.com