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ELFA’s Monthly Leasing Index Shows July New Business Volume


July 24, 2019 — The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for June was $9.9 billion, up 9% year-over-year from new business volume in June 2018. Volume was up 9% month-to-month from $9.1 billion in May. Year to date, cumulative new business volume was up 1% compared to 2018.

Receivables over 30 days were 1.70%, unchanged from the previous month and up from 1.40% the same period in 2018. Charge-offs were 0.33%, down from 0.46% the previous month, and unchanged from the year-earlier period.

Credit approvals totaled 77.0%, up from 75.9% in May. Total headcount for equipment finance companies was down 2.2% year-over-year.

Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) in July is 57.9, up from the June index of 52.8.  

ELFA President and CEO Ralph Petta said, “After a sluggish beginning to the year, Q2 new business volume in the equipment finance sector, as measured by responding organizations to the MLFI-25, shows a healthy gain. As we head into the summer months, the economy and credit markets continue to perform well. Demand for financed equipment is strong.”

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