Financing rises 10%

News Story
- 1 Mar 2018 ( #861 ) - Washington, DC, United States
1 min read
Ralph Petta
Ralph Petta
The Equipment Leasing and Finance Association's (ELFA) Monthly Leasing and Finance Index (MLFI), which reports economic activity from 25 companies representing a cross-section of the USD1 trillion equipment finance sector, showed their overall new business volume for January was USD6.9 billion, up 10% year-over-year from new business volume in January 2017. Volume, however, fell 46% month-to-month from USD12.8 billion in December, following the typical end-of-quarter, end-of-year spike in new business activity.

Credit approvals totalled 76.9% in January, down from 77.6% in December.

Separately, the Equipment Leasing & Finance Foundation's Monthly Confidence Index (MCI-EFI) in February is 73.2, easing from 75.3 in January, which was an all-time high level for the index.

ELFA president and CEO Ralph Petta says, "A confident commercial sector of the US economy showed itself with double-digit growth in the dollar volume of financed equipment for the month of January. Despite a spike in delinquencies, which bears a watchful eye for signs of deterioration in credit markets in the coming months, the new year gets off to a strong start for the equipment finance industry. Business owners continue to expand their operations and acquire productive assets, even as interest rates edge up ever so slightly and the Fed is poised to cool an overheated economy."

"The equipment finance industry enjoyed a great year in 2017 and is maintaining that momentum through January as evidenced by this month's MLFI," notes James Cress, vice president and general manager, Stryker Flex Financial. "Optimism continues to be fuelled by tax reform and favourable interest rates. Potential borrowers planning for the upcoming lease accounting changes in 2019 have spurred a wave of innovation towards consumption models and managed services agreements in lieu of traditional financing products.

"Barring larger macroeconomic events, all of this should result in a dynamic and growing equipment finance market in 2018."
Large companies opt to lease
Large companies opt to lease 5 Aug 2021 - Raleigh, NC, United States - 1 min read
Renters want flexibility - Jungheinrich
Renters want flexibility - Jungheinrich 21 Dec 2017 - Milton Keynes, United Kingdom - 3 min read
Toyota partners with Shoppa’s for ex-lease trucks
Toyota partners with Shoppa’s for ex-lease trucks 6 Apr 2017 - Dallas, TX, United States - 1 min read
Previously about:
Briefs News Story - 9 Sep 2021 - 2 min read
ELFA identifies equipment trends News Story - 28 Jan 2021 - Washington, DC, United States - 5 min read
Mixed fortunes for equipment finance News Story - 9 Jan 2020 - Washington, DC, United States - 1 min read
Do you have materials handling news? Submit your news here
Inside The News
This week in Forkliftaction News we talk with four Chinese forklift manufacturers about their aspirations for a burgeoning export market and what the introduction of additional US tariffs will mean for their business models... Continue reading

This April, Forkliftaction will publish an in-depth feature report on the latest innovations in materials handling attachment design.

Do you have expertise in this field? 
Feature contribution is a unique opportunity to share your knowledge in a widely read and respected editorial report. 

Contributor sign-up ENDS FEBRUARY 20thcontact us today to secure your participation!

Words of support …

I know I can count on them. They give valuable suggestions on the campaign planning, and to publish content is as easy as abc, as they take care of the material layout and check links. This is a great support.

Annalisa Castellini, Marketing Manager - Bolzoni S.p.A.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

This April, Forkliftaction will publish an in-depth feature report on the latest innovations in materials handling attachment design.

Do you have expertise in this field? 
Feature contribution is a unique opportunity to share your knowledge in a widely read and respected editorial report. 

Contributor sign-up ENDS FEBRUARY 20thcontact us today to secure your participation!

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

PREMIUM business

Hawker Powersource, Inc.
HAWKER® offers a range of hybrid motive power solutions customized to adapt as your operation's needs change.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

This April, Forkliftaction will publish an in-depth feature report on the latest innovations in materials handling attachment design.

Do you have expertise in this field? 
Feature contribution is a unique opportunity to share your knowledge in a widely read and respected editorial report. 

Contributor sign-up ENDS FEBRUARY 20thcontact us today to secure your participation!