Equifax Canada's latest quarterly business credit trends report says there was a 14.3 per cent uptick in the number of businesses that missed a payment on a credit product between the fourth quarter of 2023 and the fourth quarter of 2022.
The report found a significant surge in instalment loan delinquencies, with early-stage delinquencies up by 12.5 per cent and late-stage delinquencies up by 16.3 per cent year-over-year.The new report comes on top of recent data from the Office of the Superintendent of Bankruptcy showing a 41.4 per cent surge in business insolvencies in 2023 compared with 2022.
Equifax says Canadian businesses are struggling with the impact of higher interest rates, a slowdown in consumer spending and pandemic loan repayments.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Entertainment Entertainment Latest News, Entertainment Entertainment Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit delinquencies on rise among Canadian businesses: EquifaxTORONTO — A new report suggests credit delinquencies among Canadian businesses are on the rise. Equifax Canada's latest quarterly business credit trends report says there was a 14.
Source: SooToday - 🏆 8. / 85 Read more »
Credit delinquencies on rise among Canadian businesses: EquifaxTORONTO — A new report suggests credit delinquencies among Canadian businesses are on the rise. Equifax Canada's latest quarterly business credit trends...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Credit delinquencies on rise among Canadian businesses: EquifaxTORONTO — A new report suggests credit delinquencies among Canadian businesses are on the rise. Equifax Canada's latest quarterly business credit trends report says there was a 14.
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »
Toronto Metropolitan University Hosts Canadian University Men's Hockey National ChampionshipsAs the traditionally white sport grapples with allegations of discrimination and abuse, Black players say the diversity and inclusion in TMU’s hockey program show a way forward.
Source: CBCToronto - 🏆 51. / 61 Read more »
Neil Young announces North American tour, Toronto only Canadian stopCanadian folk legend Neil Young is hitting the road this spring for a North American tour and the only date north of the border on the 16-show run is in Toronto.
Source: CTVToronto - 🏆 9. / 84 Read more »