Monthly Equipment Finance Index shows new business volume is up

Source: The Equipment Leasing and Finance Association

Oct 13, 2011

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity for the $521 billion equipment finance sector, showed overall new business volume for August was $5.7 billion, up 33% from volume of $4.3 billion in the same period in 2010. Volume was unchanged from the previous month. Year-to-date cumulative new business volume is up 25%.

All credit quality metrics showed improvement. Receivables over 30 days decreased to 2.5% in August from 2.7% in July, and declined by 42% compared to the same period in 2010. Charge-offs were down slightly from the previous month, and decreased by 54% from the same period in 2010, representing their lowest level in over two years.

Credit standards relaxed in August as the number of lease applications approved increased to 77.6% from 76.3% the previous month, and were up year over year as well. Over two-thirds of participating organizations reported submitting more transactions for approval during the month.

Learn more about the Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index

Welcome to the Equipment Leasing and Finance Association video

Watch more Equipment Leasing and Finance Association videos

Show Comments
Hide Comments

Join the discussion

We welcome your thoughtful comments.
All comments will display your user name.

Want to participate in the discussion?

Register for free

Log in for complete access.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments