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High Risk Commercial Past Due Debts on the Rise

October 28th, 2009

Gap develops as percentage of excessively late payments grows

QUINCY, Mass. AND BOCA RATON, Fla. – October 28, 2009 — Cortera™, a community-driven business information company, today published its October 2009 Cortera’s High Risk Debt Report, a monthly index of current accounts receivable debt and high risk 90-plus days past due debt. The report reveals that while national (US) corporate A/R debt trends are slowly improving, the percentage of companies paying bills 90 or more days past due continues to rise. Based on the payment activities of approximately 20 million public and private business locations ($150 billion in commercial A/R information), 83 percent of today’s total A/R debt is current – bills paid on time — up from a low of 81 percent in February 2009. In contrast, the percentage of A/R debt that is 90 or more days past due has grown from 4.9 percent in January to 5.7 percent today.

“Even when the economy was at its worst, the vast majority of companies continued to pay their bills on time, and that number continues to get better as the seeds of recovery take root,” said Jim Swift, president and CEO of Cortera. “Unfortunately, there is a delinquent minority – the proverbial deadbeats – that seem to be getting worse, and that could put near-term business expansion and job creation efforts at risk.”

The report is the latest in Cortera’s A/R data series and is available on the Cortera’s blog.

About Cortera
In a sea of business information providers, Cortera is different. With over 15 years of experience serving finance professionals, Cortera combines premium business information and innovative tools with a fresh community approach to commercial credit. It represents the first community for small business credit reporting and a fundamentally new way to capture the collective insight of millions of financial transactions. As a result, small businesses can make smarter, informed decisions to ensure optimal cash flow while attracting more favorable payment terms from existing and potential business partners.

Media Contacts:

Craig VerColen
VerColen Communications
craig@vercolen.com
617-599-2180

Alex Coté
Cortera
857-403-1370