The surface of SMB lending looks healthier in Q1 2026. The cost structure underneath it tells a different story.

How to read the gap between improving overdraft and NSF rates and rising payroll burden, fixed obligations and a 16.5% year-over-year decline in insurance coverage

Why operating margins crossed into negative territory for the first time in nine quarters — and what the seasonal context means for Q2

How DSCR dropped from 0.62x to 0.34x in two quarters, and what that velocity signals about debt-service risk heading into the second half of 2026

Which industry segments — including Full-Service Restaurants, Roofing Contractors and General Automotive Repair — carry the sharpest cost and coverage pressure in the current data

How transaction-level bank account data provides earlier and more specific signals than credit bureau or survey-based market commentary