Members of the US Equipment Leasing and Finance Association (ELFA) have reported an 8% year-on-year rise in new business volume for June 2013.

According the ELFA’s Monthly Leasing and Finance Index, 25 participant firms wrote $8.6bn (€6.5m) of new business in June, marking a 15% increase since May and contributing to a 10% year-to-date rise compared to 2012.

While new business was up, late payments were down, and defaults remained at an historic low of 0.3% for the fourth consecutive month.

In a separate ELFA report, the Monthly Confidence Index was up from 57.3 in June to 59.4 for July.

William Sutton, president and chief executive of ELFA, said: "Businesses continue to increase spending on capital equipment as evidenced by U.S. government statistics showing three consecutive months’ increase in durable goods orders by American firms.

"The amount of leasing and financing of business equipment and software continues to grow, while the credit quality of these transactions remains at historic highs. Member companies are optimistic that this trend will continue into the summer months and beyond."

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.