US equipment borrowing rises

News Story
- 4 May 2017 ( #819 ) - Washington, DC, United States
1 min read
New loans rose 10%<br />PHOTO: SHUTTERSTOCK
New loans rose 10%
PHOTO: SHUTTERSTOCK
Borrowing by US companies to spend on capital investment rose last month, according to the Equipment Leasing and Finance Association (ELFA).

Reuters reports that companies signed up for USD8.9 billion in new loans, leases and lines of credit in March, up 10% from a year earlier. Their borrowing rose 51% from February.

"The central bank's recent rate hike may, in part, be responsible for the spike in equipment demand as businesses seek to lock in fixed rate financing ahead of steadily increasing interest costs," ELFA Chief Executive Ralph Petta says in a statement.

ELFA, a trade association that reports economic activity for the USD1 trillion equipment finance sector, says credit approvals totalled 74.5% in March, down slightly from 74.8% in February.

ELFA's leasing and finance index measures the volume of commercial equipment financed in the United States. It is designed to complement the U.S. Commerce Department's durable goods orders report, which it typically precedes by a few days.

The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, reports that its confidence index fell to 65.8 in April from 71.1 in March. A reading of above 50 indicates a positive outlook.
KION’s lenders approve covenant amendment 24 Sep 2009 - Wiesbaden, Germany - 1 min read
Previously about:
Equipment trends for 2023 News Story - 19 Jan 2023 - Washington, DC, United States - 4 min read
Equipment finance activity grows News Story - 13 Sep 2018 - Washington, DC, United States - 1 min read
Materials handling investment rises as other sectors fall News Story - 20 Oct 2016 - Washington, DC, United States - 2 min read
Do you have materials handling news? Submit your news here

CeMAT Australia is returning to the Melbourne Convention and Exhibition Centre on July 23 - 25, 2024.

Register for free and experience the leading global trade show for intralogistics, materials handling, and supply chain management, and familiarise yourself with the latest technology in your sector!

Register Now! 

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

You may have noticed your email news edition has undergone a little revamp.

To deliver a more easily digestible and mobile-compatible version of our news edition, we have tweaked some of the formatting and skimmed down the unnecessary extras.

Enjoy the fresh look and happy reading!

The Forkliftaction Team 

Inside The News
Things get a little political this week as we bring big announcements from US President Joe Biden and UK Transport Secretary Mark Harper that will affect the global supply chain industry in different ways... Continue reading

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

Forkliftaction's JOB MARKET

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

Forkliftaction's JOB MARKET

You may have noticed your email news edition has undergone a little revamp.

To deliver a more easily digestible and mobile-compatible version of our news edition, we have tweaked some of the formatting and skimmed down the unnecessary extras.

Enjoy the fresh look and happy reading!

The Forkliftaction Team