US equipment finance new business volume increased by $8bn
(€6.6bn) in June, up 9.5% from $7.3bn in June 2011, according to
the Equipment Leasing and Finance
Association (ELFA).

Volume was also up 29% from May and
year-to-date cumulative new business volume increased by 14.5%.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Receivables over 30 days were 2.4%, down from
2.7% in May, and down slightly compared to the same period in 2011.
Charge-offs increased to 0.6% in June, up from 0.5% in May, and
down by 45.4% compared to June 2011.

Credit approvals increased to 78.7% in June
from 78.3% in May. Sixty-five percent of reporting organisations
submitted more transactions for approval during June, down from 75%
in the previous month.

The information was published in ELFA’s
Monthly Leasing and
Finance Index (MLFI-25), which reports on the $628bn US
equipment finance sector.

Separately, ELFA’s Monthly Confidence
Index (MCI-EFI) for July is 51.5, up
from June’s index of 48.5, reflecting continuing concern over
external economic factors and regulatory and political
uncertainty.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

William G Sutton, ELFA president and chief
executive, said: “Despite recent reports of a softening economy,
the level of capital investment by US businesses – both large and
small – continues to accelerate.

“In fact, the volume of equipment financed in
June, as illustrated by the MLFI-25, surpasses that of any single
month, except for year-end December activity, since the beginning
of the Great Recession in 2008. We hope that, in spite of the
factors adversely affecting economies overseas, our businesses here
at home will be able to continue to invest in productive
assets.”