Average commercial debt per business in Canada rose 7.3 per cent year-over-year to $30,581 in the second quarter of 2026, while the 60+ day delinquency rate on financial credit products reached its highest level since 2019 at 4.0 per cent, up 19.7 per cent year-over-year, according to new Equifax Canada Q2 2026 Commercial Credit Trends data. The debt increase is concentrated among higher-risk businesses, with those scoring between 1026 and 1060 on the Equifax Business Failure Risk Score carrying the largest average load at $125,517 per business, up 48.2 per cent, and the highest-risk tier seeing average balances more than double, up 103.1 per cent to $42,986. Companies 12 months old or younger recorded a 71.7 per cent year-over-year increase in average debt balances, reaching $48,173. Business restructuring proposals surged 30.32 per cent year-over-year, while the 60+ day delinquency rate for industrial trade credit fell 24.4 per cent to 4.26 per cent, and Ontario recorded the highest provincial financial-trade delinquency rate at 4.44 per cent, followed by Alberta at 3.93 per cent and Manitoba at 3.68 per cent. Jeff Brown, Head of Commercial Solutions at Equifax Canada, said the data shows an important divide in how Canadian businesses are managing their financial obligations, with many staying current with suppliers while falling further behind with banks and lenders.
Equifax IncEquifax Canada's own data shows rising business debt and multi-year-high delinquencies, a mixed signal for its commercial credit reporting business.
