Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index

The Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index showed its overall new business volume for March was $10.6 billion, up 14% year-over-year from new business volume in March 2021.

Volume was up 49% month-to-month from $7.1 billion in February. Year-to-date, cumulative new business volume was up 5% compared to 2021.

Receivables over 30 days were 1.5%, down from 1.7% the previous month and down from 1.9% in the same period in 2021. Charge-offs were 0.10%, up from 0.09% the previous month and down from 0.43% in the year-earlier period.

Credit approvals totaled 78.3%, up from 78.2% in February. Total headcount for equipment finance companies was flat year-over-year.

Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index in April is 56.1, a decrease from 58.2 in March.

ELFA President and CEO Ralph Petta said, “MLFI-25 participants end the first quarter of the year very favorably: new business volume continues to surge and portfolios are performing extremely well. This, while inflationary pressures, the war in Ukraine and supply chain disruptions continue unabated. With the Fed increasing short-term borrowing rates now and into the foreseeable future, business owners—both large and small—are choosing to lease and finance their critical equipment needs.”