ELFA: New Business Volume Up 30% Sequentially



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 June was $9 billion, up 5% from new business volume in June 2013.

Month over month, new business volume was up 30% from May. Year to date, cumulative new business volume increased 3% compared to 2013.

Receivables over 30 days decreased from the previous month at 1.6%, and were up from 1.4% in the same period in 2013. Charge-offs were unchanged for the third consecutive month at an all-time low of 0.2%.

Credit approvals totaled 80.1% in June, an increase from 76.1% the previous month. Total headcount for equipment finance companies was up 1.0% year-over-year.

Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) for July is 61.4, unchanged from the previous month.

ELFA president and CEO William G. Sutton, CAE, said, “New business volume shows steady year-over-year growth as businesses continue to invest in plant and equipment. It remains to be seen whether and to what extent the Fed’s recent stance toward a gradually tightened monetary policy and resultant increase in short- and long-term rates in the coming months is providing a stimulus for this rise in capital expenditure.”

To view the full ELFA report, click here.


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