Small businesses generally respond to changes in economic conditions more rapidly than larger businesses do. Thomson Reuters/PayNet Indices taps small business lending and delinquency data from PayNet Inc., the leading provider of risk management tools and market insight to the US commercial credit industry.
The Thomson Reuters/PayNet Small Business Lending Index (SBLI) measures the volume of new commercial loans and leases to small businesses.
The Thomson Reuters/PayNet Small Business Delinquency Index (SBDI) is a complementary offering which is designed to gauge small business financial stress and default risk, providing early warning signals of future insolvency across multiple sectors of the economy.
Thomson Reuters/PayNet Small Business Lending Index
Based on new loan originations by major lenders in PayNet’s proprietary database, this new index measures the volume of loans to Small Businesses (normalized to January 2005).
Seasonally adjusted and presented both on an absolute index basis and on a change versus the same month one year prior basis, it is published monthly as follows:
- Preliminary data for current value reflecting most recent small business lending activity released
- Revised data for month preceding Preliminary released
- Final data for month preceding Revised released
The index has its highest correlation with GDP change as a leading indicator, leading between 2 and 5 months in advance. The index undergoes periodic checks to examine the accuracy of the estimates over time.
Thomson Reuters/PayNet Small Business Delinquency Index
The Thomson Reuters PayNet Small Business Delinquency Index captures the percentage of loans to small businesses that are 31-90 days past due or 91-180 days past due, calculated on a monthly basis. The index is calculated from the most recent loan performance for the largest commercial and industrial lenders in PayNet's US database, including both loans and leases for which data is available. As lenders in the index change, they are seamlessly replaced with comparable lenders to preserve the integrity of the index.
SBDI is published monthly as follows:
- PRELIMINARY data for current month reflecting most recent small business delinquency
- REVISED data for month preceding Preliminary
- FINAL data for month preceding Revised
This paper describes the Thomson Reuters/PayNet SBLI index's ability to…
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