Missouri Small Business Defaults Deteriorate in April

In April 2017, more of Missouri's small businesses defaulted on existing loans, data released by PayNet reveal. However, of the 18 major industries, 9 dropped in the state.

PayNet’s Small Business Default Index (SBDFI) for Missouri stood at 1.90% following a 2 basis point increase from March. Missouri's SBDFI was on par with the national SBDFI level (1.90%). Over the last year, Missouri's SBDFI rose 32 basis points, while the national SBDFI increased 26 basis points.

Transportation and Warehousing (4.96%); Professional, Scientific, and Technical Services (3.44%); and Information (2.37%) displayed the highest default rates of all industries in Missouri. Nationally, Transportation and Warehousing had a default rate of 4.54%, with a difference of +1.12% compared to the prior year versus a variance of +1.13% in Missouri.

Registering at 85.7, Missouri's PayNet Small Business Lending Index (SBLI) increased 0.2% from last month's state level, but was 12.7% below this month's national SBLI level (98.2). The Index is basically unchanged from a year ago.

"Time will tell how these conditions will affect Missouri's economy going forward," asserts William Phelan, president of PayNet.

For more information on PayNet, visit www.paynet.com.