PayNet has established a unique and highly regarded data asset in the commercial lending and leasing market. Equifax data combined with PayNet's differentiated and valuable commercial leasing data assets and capabilities strengthens the Equifax Commercial business, data assets, and analytics capabilities.
Our Credit Scoring Seminar is held annually in July to shed light on the Digital Revolution of Main Street’s access to capital. Lenders are constantly looking for new ways to use data to improve productivity and efficiency in their underwriting process while managing risk. Related topics will address empirically derived models, expert judgment scorecards, and incorporating financial statements to make decisions.
According to the PayNet Small Business Lending Index, borrowing by small businesses in Canada has fallen for nine straight months, and is now at its lowest level since 2012. That’s a bad sign because small business lending is considered a leading indicator ― a “canary in the coal mine,” in the words of Bill Phelan, president and co-founder of PayNet, commenting for Huffington Post Canada ― that shows us where the economy is headed.
The latest PayNet data shows US small business lending is beginning to lose steam. The PayNet Small Business Lending Index (SBLI) fell 6.5 points to 140.0 in March and is now down 3.8% compared to year-ago levels.
Although relics like the manila folders in steel-cased filing cabinets still exist in our industry, the commercial lending market has considerably transformed in the last twenty years, and we are at the forefront of an exciting future.