Small firms continued to reduce their delinquent debt over the past year and their credit quality followed suit, according to the latest data from Experian.
Consumer confidence is high and small business credit quality has shown improvements throughout the quarter due to personal income growth, retail sales increases and steady employment gains, the Experian/Moody's Analytics Small Business Credit Index revealed.
Findings from the report showed that small firms have steadily reduced their delinquent debt over the past year. Balance volumes for all business sizes also receded measurably from a year earlier, bringing down delinquency rates, according to the report.
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