Canadian Small Business Lending Remains Healthy, Up Year-on-Year

With small businesses continuing to drive economic growth, the newly released Fall 2019 TransUnion (NYSE: TRU) Business Lending Barometer shows that overall business credit balances in Canada increased year-on-year (YoY) in September 2019, up 6.1% over the previous year. At the same time, lenders also increased the overall number of open credit accounts, up 5.4% for the same 12-month period.Importantly, delinquency rates, defined as accounts with payments 90 or more days past due (DPD) remained low at 1.95% for September 2019, which represented an improvement of 26 basis points (bps) compared to the same period in 2018. The TransUnion Business Lending Barometer draws from Transunion’s Business Exchange Database. The database typically includes businesses with up to 99 employees and incorporates data for sole proprietors.