Answering Your Questions on Current Commercial Challenges

On our April 18 Market Pulse webinar, our experts talked about the roadblocks that businesses face in the commercial market. They also gave insights to help guide a path forward. Unfortunately, we ran out of time to cover all the questions and so our speakers took a few minutes to review the list and provide answers to the questions below. 

Can we get a breakout of outstanding debt, mortgage and non-mortgage, by the subproduct break out (first mortgage vs second and lines of credit; auto vs card, vs. unsecured vs student loan)?

Jesse Hardin: Total US Consumer debt totals $17.37T, with total Mortgage Debt at $12.63T and Total Non-Mortgage Debt at $4.77T. First Mortgage Debt is at $12.1T, while Other Mortgage Debt (Seconds/HELOC) is at $0.5T. Auto is at $1.6T, Bankcard is at $1.07T, and Private Label Card is at $0.07T. Unsecured Personal Loans stand at $0.15T, while Student Loans are at $1.5T, and all Other debt totals $0.37T.

Is the percentile just using the state series [re: April 2024 Small Business Indices State & Industry Trends]?

David Adams: Correct. The percentiles were based on the most recent Small Business Indices and Main Street Lending Report.

How is small business defined in terms of revenue?

David Adams: The revenue numbers will vary. We primarily follow the SBA definition of a small business, which states a small business is an independent business having fewer than 500 employees. 

Any insight specific to SMB unsecured performance?

David Adams: Unfortunately, we don't break the numbers out in that way.  Lending incorporates a variety of accounts, including secured and unsecured lines of credit.

Explore the Latest Insights with Equifax

Join us for our upcoming Market Pulse webinar on May 16th. Responding to feedback from our audience, as well as insights gathered from CBA Live, we're gearing up to delve into crucial topics including:

• Overall affordability

• Inflation trends

• Loan delinquency rates

• Account management strategies

Stay ahead of the curve by registering for our upcoming webinars, accessing our monthly Small Business Insights, and diving into our National Consumer Credit Trends Reports. Our Market Pulse webinars and blogs draw directly from these rich sources of Equifax data and insights.

In today's ever-evolving economic landscape, proactive engagement isn't just a strategy; it's a commitment to your clientele. During challenging financial periods, it's essential to proactively plan, set goals, and maintain momentum.

To ensure you're always in the loop, follow our Equifax for Business LinkedIn page. And don't forget to tune in to our Market Pulse podcasts, available on all major podcast platforms. These podcasts offer deeper dives into the topics we cover in our webinars and blogs, providing valuable insights wherever you are.

* The opinions, estimates and forecasts presented herein are for general information use only. This material is based upon information that we consider to be reliable, but we do not represent that it is accurate or complete. No person should consider distribution of this material as making any representation or warranty with respect to such material and should not rely upon it as such. Equifax does not assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice. The opinions, estimates, forecasts, and other views published herein represent the views of the presenters as of the date indicated and do not necessarily represent the views of Equifax or its management.