Top Five Lenders Account for 52.5% of New Equipment Filings in October

According to a recent report published by EDA for the month of October, the top 20 lenders to an industry group encompassing agriculture, construction, lift trucks, logging equipment, machine tools, office equipment, printing, trucking and woodworking, showed financing statement activity on a total of 17,102 transactions for new equipment only. This was up 21.9% from the 14,025 transactions in September.

The top five lenders by number of filings — Kubota Credit USA (2,815), John Deere Industrial Credit (2,396), U.S. Bank Equipment Finance (1,600), Caterpillar Financial Services (1,244) and Wells Fargo Vendor Services (921) — accounted for a total of 8,976 transactions or 52.5% of the total for all 20 lenders.

The remaining 15 lenders included in the data accounted for the balance of 8,126 new equipment transactions representing 47.5% of the total.

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Terry Mulreany
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