Top Five Lenders Account for 54% of New Equipment Filings in September
NOV 2, 2017 - 7:08 am
According to a recent Industry Insight report published by EDA for the month of September, 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 14,025 transactions for new equipment only.
The top five lenders by number of filings — Kubota Credit USA (2,358), John Deere Industrial Credit (2,113), U.S. Bank Equipment Finance (1,044), Xerox Financial Services (1,035) and Caterpillar Financial Services (961) — accounted for a total of 7,511 transactions or 53.6% of the total for all 20 lenders.
The remaining 15 lenders included in the data accounted for the balance of 6,514 new equipment transactions representing 46.4% of the total.
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