Equifax Canada reports rise in delinquency, debts amidst rate cut optimism [BNN Bloomberg (Canada)]
Equifax, Inc. (EFX)
Last equifax, inc. earnings: 4/20 05:24 pm
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Source: BNN Bloomberg
The agency's 2024 Business Credit Trends Report attributes a 74 per cent year-over-year spike in new installment loan organizations during the latter half of last year to Canadian businesses rushing to meet the Canadian Emergency Business Account (CEBA) forgiveness deadline of Jan. 18. "While it may feel like CEBA is moving into the rear-view mirror, it's truly a matter of businesses turning to new installment loans to secure their financial stability," said Jeff Brown, head of commercial solutions for Equifax Canada, in a press release Tuesday. "Many businesses were focused on the forgiveness deadline and paying back debt to take advantage of this timeline. The increased reliance on these loans has also contributed to a notable rise in delinquencies, particularly in installment loans." Equifax Canada also highlighted a rise in delinquencies in industrial trade, which increased from 10.1 per cent in the first quarter of 2023 to 12.2 per cent in the first quarter of 2024. Fina
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EFX
News
- Equifax Introduces Secondary Education Diploma Verification Solution for Employers [Yahoo! Finance]Yahoo! Finance
- Equifax Introduces Secondary Education Diploma Verification Solution for EmployersPR Newswire
- Canadian businesses missing payments as debt burden grows [Yahoo! Finance Canada]Yahoo! Finance Canada
- Canadian business installment loans up 74% in a year, delinquencies rising [Wealth Professional (Canada)]Wealth Professional
- Six numbers that show how debt grinds people down [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
EFX
Earnings
- 4/17/24 - Beat
EFX
Sec Filings
- 6/4/24 - Form 4
- 6/4/24 - Form 4
- 6/4/24 - Form 4
- EFX's page on the SEC website