Equipment leasing volume among companies surveyed by the
Monthly
Leasing and Finance Index (MLFI-25), was $5.0bn (€3.7bn) in
February, an increase of 22% year-on-year, despite being 2% down on
the previous month.

The figures, published by US leasing trade
body the Equipment Leasing and Finance Association (ELFA), showed
receivables in arrears from up from 1.9% to 2.5% in the month,
largely due to higher than average delinquencies at one of the 25
companies surveyed.

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Charge-offs remains “satisfactorily low”
and unchanged from the previous month at 0.5%, the report said,
while credit approvals for February rose to 79%, up from 77% in
January.

The total headcount for the group of
companies was down 3% year-on-year, although it remained unchanged
from the previous month.

Meanwhile the ELFA Monthly Confidence Index
for the Equipment Finance Industry (MCI-EFI) for March discovered
an increase in confidence within the equipment finance market. The
index for March was 61.7, up from 59.6 in February.

Despite concerns about increasing fuel
prices and upcoming elections in the US, companies seemed
optimistic.

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34.2% of survey respondents believed that
there will be an increase in demand for leases and loans to finance
capital expenditure over the next four months – an increase from
26.5% in February.

No respondents believed that demand will
decline, whereas 5.9% expected this in February.

David Schaefer, president of Orion First
Financial, LLC said: “Demand is steady and we expect it will remain
so through 2012. We are expecting the election to have a chilling
effect on business decision makers and this will likely hold demand
down at moderate levels throughout the year.”