New business volume grew 9.3% in the equipment finance industry in 2013, according to the 2014 Survey of Equipment Finance Activity (SEFA) released by the Equipment Leasing and Finance Association (ELFA).

The growth in volume was down from the 16.4% increase reported for 2012 and the 16.5% increased reported for 2011, but well above the 3.9% increase reported for 2010 and the 30.3% decline in 2009. The SEFA, which is based on responses from 109 ELFA member companies, covers key statistical, financial and operations information for the equipment finance industry.

ELFA also released a companion report to the 2014 SEFA called the 2014 Small-Ticket Survey of Equipment Finance Activity. The report, which focuses on small-ticket and micro-ticket equipment transactions among the SEFA respondents, found that new business volume in the small-ticket space grew by 10.2% in 2013.

“We are pleased to present the 2014 SEFA and the 2014 Small-Ticket SEFA, which provide comprehensive performance metrics for the $827 billion equipment finance industry,” said William G. Sutton, CAE, ELFA president and CEO. “The data show the equipment finance sector continued to gain momentum as the economy improved in 2013. More recent data collected in 2014 indicate that growth is continuing amid a slow economic recovery, at a more tempered rate.”

To view the full ELFA SEFA report, click here.