The American Equipment Leasing and Finance Association (ELFA)
has published its latest Monthly Leasing and Finance Index (MLFI),
showing that the USA’s $650 billion (€445 billion) equipment
finance sector saw business 35 percent down year-on-year for the
month of August.
The MLFI also reported month-to-month new business volume down
22.9 percent from July to August – a decline from $4.8 billion to
$3.7 billion. Seventy-five percent of lessors surveyed reported
fewer transactions submitted for approval during August, citing
tightening underwriting standards and lower demand.
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“The MLFI-25 data illustrate a pattern of stagnant growth in new
business volume and at the same time, some deterioration in credit
quality,” commented ELFA President Ralph Petta.
He continued: “It should come as no surprise to those following
the equipment finance sector that it will take some time for
troubled portfolios to work their way through the system.”
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