Canadian Businesses Carry More Debt as Payment Stress Deepens
Average commercial debt per Canadian business increased 7.3% year over year to $30,581 in the second quarter of 2026, according to Equifax Canada. The rate of payments at least 60 days overdue on financial credit products reached 4%**—its highest level since 2019 and an increase of 19.7% from a year earlier.
Higher-risk businesses experienced particularly sharp debt growth, while tariff uncertainty added further pressure to companies already managing elevated borrowing costs and cash-flow challenges.
For rental housing providers, the findings point to continued financial pressure on contractors, suppliers and other businesses supporting building operations. Higher borrowing costs and payment risk may contribute to increased prices, tighter credit terms and project delays.
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