Experian’s Quarterly Business Credit Review released December 10, 2013 indicates that delinquency rates for small businesses have hit new lows–declining to 12.89% down approximately 0.5% from the prior quarter. The review points out that bankruptcy rates have also declined.
However, there are stark regional differences according to the report with delinquency rates higher in the East Coast (especially the corridor from Pennsylvania to Florida) where they range from 15.7% to 25.1% than in the West where they range from 4.5% to 15.6%. It is interesting that the report paradoxically indicates that the bankruptcy rates are lower in the East than the West.
Not surprisingly, delinquency rates also vary significantly by industry with Health Services and Hospitality at the low end and Construction at the high end.