Equifax Reports November Small Business Lending Decline and Improved Credit Quality

Equifax Inc. reported that its November 2025 Small Business Lending Index (SBLI) showed an 8.2% decrease in nominal small business lending volumes month-over-month and a 6.8% decline year-over-year. The SBLI three-month moving average increased by 0.1% month-over-month but decreased by 0.1% compared to the previous year. The Small Business Delinquency Index (SBDI) for accounts 31-90 days past due was 1.68%, down one basis point from the previous month and 10 basis points from November 2024. The SBDI for accounts 91-180 days past due remained unchanged at 0.71%. The Small Business Default Index (SBDFI) measured 3.14%, down 11 basis points month-over-month. Regionally, 33 states experienced a year-over-year increase in 12-month rolling lending volumes. Among the largest states, Georgia had the highest increase at 6.3%, while California saw the largest decrease at 9.8%. Oklahoma (+12%) and Hawaii (+9%) recorded the highest growth compared to the previous year, while Alaska (-16%) and Vermont (-10%) posted the largest declines. By industry, lending increased the most in Real Estate and Rental and Leasing (+6%) and Finance and Insurance (+5%), while the Information sector saw the largest decline (-12%). The SBDFI increased annually in five industries, led by Mining, Quarrying, and Oil and Gas Extraction (+21%). Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Equifax Inc. published the original content used to generate this news brief on January 26, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here