New business volume grew 4.4% in the equipment finance industry in 2018, according to the 2019 Survey of Equipment Finance Activity (SEFA) released by the Equipment Leasing and Finance Association.
The rise was lower than the 6.9% increase achieved in 2017 but surpassed real GDP, which grew 2.9% in 2018. The rise in new business volume marked the ninth consecutive year that businesses increased their spending on capital equipment.
ELFA also released a companion report to the 2019 SEFA called the 2019 Small-Ticket Survey of Equipment Finance Activity. The report, which focused on small-ticket and micro-ticket equipment transactions among the SEFA respondents, found that new business volume in the small-ticket space grew by 9.6% in 2018.
Key findings for 2018 in the 2019 SEFA included:
“The equipment finance industry saw positive growth overall in 2018, as reported in the 2019 Survey of Equipment Finance Activity,” said ELFA President and CEO Ralph Petta. “We are pleased to share this important industry data and we are excited to roll out new SEFA offerings this year. In addition to the traditional SEFA report, the Interactive SEFA Dashboard and the personalized MySEFA tool will allow users to crunch the numbers in new ways and make better, more data-driven decisions. We thank all the ELFA member respondents, without whom this leading industry data source would not be possible.”
The SEFA report covers key statistical, financial and operations information for the $1 trillion equipment finance industry, based on a comprehensive survey of 126 ELFA member companies. PricewaterhouseCoopers administered the 2019 SEFA.
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