ELFA: New Business Volume Up 3% in March



The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $827 billion equipment finance sector, showed their overall new business volume for March was
$7 billion, up 3% from new business volume in March 2013.

Month-over-month, new business volume was up 30% from February. Year-to-date, cumulative new business volume increased 6% compared to 2013.

Receivables over 30 days increased to 2.1% from 1.8% the previous month, and were up slightly from 2.0% during the same period in 2013. Charge-offs were down at a new all-time low of 0.2% from 0.4% the previous month.

Credit approvals totaled 77.8% in March, an increase from 75.3% the previous month. Sixty-five percent of participating organizations reported submitting more transactions for approval during March, an increase from 53% during February.

Finally, total headcount for equipment finance companies was up 4.4% year over year.

ELFA president and CEO William G. Sutton, CAE, said, “Equipment finance companies in almost all industry sectors are reporting a strong first quarter of the year. The March data showing new business volume clearly provides evidence of a strong first quarter looking back and a positive forecast for future activity.”

To view the full report, click here


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

No tags available

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com