Small-business loan default rate posts first drop since '07

02/2/2010 | CNBC

The default rate for small-business loans fell for the first time in two years in December, according to PayNet. Accounts in default fell to 0.87% that month, from 0.89% in November. "The headline here is that the recession in this economy is most likely over, but full recovery to pre-recessionary levels is still years away," said Bill Phelan, president and founder of PayNet.

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