Oregon business owners take more time paying their bills than company owners in any other state.
So says Cortera, a Quincy, Mass., credit bureau that released a “past due by state” report that tracked accounts receivable information through December. The report shows that 20.85 percent of Oregon-based business accounts were past due at the time the study occurred.
The high number is likely tied to Oregon’s high unemployment rate. Oregon’s unemployment rate has exceeded 10 percent since January 2009 and has lately fluctuated between 10.7 percent and 12. The state lost 86,600 jobs in 2009.
Cortera measured payment activities among 20 million public and private business locations comprising approximately $150 billion in commercial accounts receivable data.
Wisconsin ranked just behind Oregon, with a 20.46 percent past due rate. New Mexico (19.79 percent), Florida (19.72 percent), Minnesota (19.64 percent), Nevada (19.55 percent) and Michigan (19.15 percent) were next.
The national average is 16.75 percent.
"Cortera gives our analysts powerful tools to minimize bad debt and identify previously lost revenue opportunities."
"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."
