Direct business loan lender Advance Funds Network surveyed 3,013 small business owners to identify which cities have businesses with the best reputation for paying invoices on time.
Madison, ranked 61, is Wisconsin’s top city, followed by Milwaukee at 74. A total of 250 cities are ranked, with New York City at the bottom.
“In a city where academia meets accountability, Madison treats organizations as an art form. With universities and public offices setting the pace, most vendors find payments steady — a reflection of that familiar Midwestern mix of ethics and process,” Advance Funds Network said in a statement.
A mix of industries, company sizes and business owners in various regions were surveyed. Results were weighted to reflect national benchmarks for small- and medium-sized businesses. Participants selected from a list of major U.S. cities and rated timeliness and reliability in settling invoices.
The survey was conducted in October.
