For a small business owner, a state with a high business credit score is a good indicator of how easy it is to get funding, hire workers, and get through periods of low cash flow because of the available credit.
The second annual Business Credit Snapshot by State from Nav gives small business owners this important data to help make important decisions about how to operate and perhaps even where to locate your small business.2018 Business Credit Snapshot by State
In looking at the credit health of America’s small businesses, the Nav Business Credit Snapshot by State lets entrepreneurs know which states are performing well. If a business owner is looking to expand or move, the data can be one more factor in making an informed decision. And this includes considering last year’s results.
Using the Experian Intelliscore Plus scale of 0 to 100, Hawaii had the best score with 54.6. Rounding out the top five states are Washington with 52.6, Illinois with 50.0, Oregon with 49.7 and West Virginia with 49.4.
States with the lowest credit rating included Alaska at 38.7, Kansas at 39.7, Indiana at 40.0, Maine at 40.7 and Rhode Island at 41.3.
The report notes there is only a 16 point difference between the top and bottom spots. This is because there is a narrow range of business credit from 0