Canadian businesses missing payments as debt burden grows [Yahoo! Finance Canada]
Equifax, Inc. (EFX)
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Source: Yahoo! Finance Canada
of 2024. (Photo by Mike Campbell/NurPhoto via Getty Images) (NurPhoto via Getty Images) Burdened by residual debt from federal pandemic loans, Canadian businesses are missing an increasing number of payments, with delinquency levels near record highs in the transportation and retail sectors, according to new data from Equifax Canada. When the Canada Emergency Business Account (CEBA) loans came due in January, “we really saw a transition of small businesses going from those loans to instalment loans," Jeff Brown, Equifax Canada's head of commercial solutions, said in an interview with Yahoo Finance Canada. "They went to their host banks to get a new loan to get some of the forgiveness of the CEBA loan and really just kicked the can down the road a little bit.” ADVERTISEMENT According to Equifax's Q1 2024 Business Credit Trends Report, the second half of 2023 saw new instalment loans jump by 74 per cent year-over-year. (The Canadian Federation of Independent Business says 200,
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- Business owners increasingly worried about Canada's fraud epidemic [Wealth Professional (Canada)]Wealth Professional
- ID theft and false credit applications drive 54% surge in auto fraud, Equifax Canada report finds [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- ID theft and false credit applications drive 54% surge in auto fraud: Equifax Canada [Financial Post (Toronto, Ontario, Canada)]Financial Post
- ID theft and false credit applications drive 54% surge in auto fraud: Equifax Canada [Yahoo! Finance Canada]Yahoo! Finance Canada
- Equifax Canada Reports Rise in Automotive Fraud [Financial Post (Toronto, Ontario, Canada)]Financial Post
EFX
Earnings
- 7/17/24 - Beat
EFX
Sec Filings
- 8/29/24 - Form 4
- 8/28/24 - Form 144
- 8/15/24 - Form 8-K
- EFX's page on the SEC website