By Steve Green, Las Vegas Sun
Individuals in Nevada aren’t alone in struggling to pay their bills.
With their customers facing high unemployment, bankruptcy and foreclosure rates, many Nevada businesses aren’t paying their bills on time and the state leads the nation in the Past Due by States report compiled by Cortera, a data analysis company.
The report issued Tuesday by Cortera, based in Quincy, Mass., and Boca Raton, Fla., is an index of business accounts receivable activities by state.
The report found that 25.55 percent of Nevada-based business accounts are past due, the highest percentage in the nation and the ninth straight month that Nevada has held that distinction.
Nevada’s past due rate is 50 percent higher than the national average of 16.99 percent past due.
Also high on the list are Utah (24.38 percent), Minnesota (24.02), Colorado (21.92), Arizona (21.64), Wisconsin (21.37), Hawaii (20.71), New Mexico (19.73), Oregon (19.63), and Texas (19.52).
The Nevada rate is up from 23.5 percent in June, Cortera said.
"I've been a Credit Manager for over 30 years and what Cortera is doing with their credit reporting community is amazing. It's totally revolutionary."
"It is very gratifying when your VP of Finance comes out of his office to congratulate your team on their improved metrics. Our partnership with Cortera has really helped us to achieve these results."