Posted on 01/04/2010 5:22:19 AM PST by TigerLikesRooster
Exclusive: U.S. business loan defaults rise again
7:18am EST
By James B. Kelleher
CHICAGO (Reuters) - Severe delinquencies by small and medium-sized U.S. businesses on the loans, leases and lines of credit to finance capital equipment rose again in November as lenders remained reluctant to extend fresh financing, PayNet Inc reported on Monday.
Accounts behind 180 days or more, and unlikely ever to be paid, rose to 0.91 percent in November from 0.87 percent in October, according to PayNet, which provides risk-management tools to the commercial lending industry.
It was the 22nd consecutive monthly increase in loans so far in arrears they ultimately may have to be written off by lenders.
Accounts in moderate delinquency, or those behind by 30 days or more, rose in November to 4.33 percent from 4.19 percent in October, according to PayNet.
That ended a three-month stretch where moderate delinquencies had fallen, a trend that fueled hopes prospects were improving for small businesses, which led the broader economy into the past two recessions and are widely regarded as the best hope for job creation in any recovery.
(Excerpt) Read more at reuters.com ...
Ping!
if you’re a lib/democrat, the obvious solution is more taxes, more regulation, more unions. worked like charm in Michigan.
And a steady recovery with sustainable growth will begin early in 2010!”
“Unemployment will begin to drop as well, because the Stimulus is working and will continue to work!” (Barrack Obama.)
I.O.W.;(When you have no clue about what to do, lie your ass off.)
Where is the “unexpectedly”...?
There was a good reason the founders talked about tariffs.
And it wasn’t just about raising revenue.
Tariffs help make us more self-sufficient.
If we find it harder to import, we make it ourselves or find/invent a substitute.
Idjit globalist comments to the contrary...
I’ll be very interested to see the reports about delinquencies and defaults during the first quarter of 2010.
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