North Carolina Small Business Borrowing on the Rise in September

North Carolina Small Business Borrowing on the Rise in September

Press Release ( - Charlotte, NC - Nov 21, 2017 - ​In September 2017, borrowing improved in North Carolina, according to data issued by PayNet. Of the 18 major industries, 12 increased and 6 dropped in North Carolina.

Coming in at 115.7, North Carolina’s PayNet Small Business Lending Index (SBLI) increased 1.4% from last month’s state level and was 16.8% greater than the national SBLI level of 99.1 this month. We can cautiously anticipate improving financial conditions in North Carolina based on recent small business investment.

The three industries with the most favorable change in lending activity over the past year in North Carolina were Wholesale Trade (31.9%); Admin & Support and Waste Management & Remediation Services (30.4%); and Information (20.5%). Nationally, Wholesale Trade grew by 2.7% year over year.

PayNet’s Small Business Default Index (SBDFI) for North Carolina stood at 1.68%. Following a similar value to August, North Carolina’s SBDFI was 18 basis points under the national SBDFI level of 1.86%. Compared to last year, the national SBDFI worsened 7 basis points, whereas North Carolina’s SBDFI improved 5 basis points.

“Time will tell how these conditions will affect North Carolina’s economy going forward,” asserts the president of PayNet, William Phelan.  

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