Default rates stagnate for Florida small business loans

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Default rates on Florida small business loans have flattened out at a higher-than-normal level. According PayNet data released Thursday, the default rate for March was 2.54 percent, virtually unchanged from February. It still exceeds the national default rate for small business loans at 1.87 percent.

"Financial health is weaker than a year ago in the state despite the recent downturn in defaults," the report said.

The highest default rates are in industries including transportation and warehousing at 6.39 percent, professional, scientific and technical services at 3.23 percent, followed by health care and social assistance at 3.13 percent.

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