Skip to content
Business Forbes

Business Forbes

Business On

Primary Menu
  • Business Forbes
  • Advertise Here
  • Contact Us
  • Privacy Policy
  • Sitemap
  • Home
  • May New Business Volume in Equipment Finance Rises 16% Y/Y, Falls 10% M/M
  • Business & Finance News

May New Business Volume in Equipment Finance Rises 16% Y/Y, Falls 10% M/M

By Francoise Ardion 1 month ago

According to the Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index (MLFI-25), overall new business volume in the equipment finance industry for May was $9.4 billion, up 16% year over year from new business volume in May 2021. However, volume in May was down 10% from $10.5 billion on a month-over-month basis. Year-to-date cumulative new business volume was up nearly 8% compared with the same time period in 2021.

Receivables more than 30 days were 1.6%, down from 2.1% in April and down from 1.9% in May of 2021. Charge-offs were 0.12%, up from 0.05% in April and down from 0.3% in May of 2021.

Credit approvals totaled 76.8%, down from 77.4% in April. Total headcount for equipment finance companies was down 3% year over year in May.

Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) in June is 50.9, an increase from 49.6 in May.

“May activity for MLFI-25 equipment finance company participants shows strong origination volume and very stable credit quality metrics,” Ralph Petta, president and CEO of the ELFA, said. “The economy continues to provide jobs, and corporate America, in general, reports strong balance sheets, all in the face of a waning health pandemic. Offsetting this good news is high inflation, creating havoc for many consumers, and continued supply chain disruptions and higher interest rates, which are squeezing much of the business sector. As a result, many equipment finance providers approach the summer months with guarded optimism.”

“The sustained rising interest rate environment coupled with pandemic overhang and extreme supply chain bottlenecks have pushed for a greater need in the equipment financing industry,” Scott Dienes, senior vice president and head of equipment finance and leasing at Associated Bank, said. “With this in mind, the market has continued a year-over-year increase in new business volume, which leads us to continue to be cautiously optimistic going forward with nearly half the year complete.”

Tags: Amazon Fba Business, Atlanta Business Chronicle'S, Boss Baby Back In Business, Business Administration Degree, Business Attire Women, Business Card Design, Business Cards Templates, Business Casual Dress, Business Casual Outfits, Business Checking Account, Business Credit Card, Business For Sale Near Me, Business Intelligence Platform, Business Lawyer Near Me, Business Loan Calculator, Business Name Ideas, Business Professional Women, Business Spectrum Login, California Business Entity Search, Capital One Spark Business, Carl Weber'S The Family Business, Charlotte Business Journal, Custom Business Cards, Delaware Business Search, Fl Sos Business Search, Florida Business Search, Harvard Business Publishing, Insurance For Small Business, Kelley School Of Business, Maryland Business Express, Maryland Business Search, Moo Business Cards, National Business Furniture, New York Business Search, Ohio Business Gateway, Onedrive For Business, Online Business Ideas, Paramore Misery Business, Risky Business Cast, Small Business Insurance, Spectrum Business Customer Service, Tom Cruise Risky Business, Us Small Business Administration, Verizon Wireless Business, Verizon Wireless Business Login, Virtual Business Address, What Is Business Administration, Women'S Business Casual, Yelp Business Login, Yelp For Business

Continue Reading

Previous New Mountain Finance Stock: Defensive BDC On Sale (NASDAQ:NMFC)
Next How to get therapy when cost is a barrier | Personal-finance

Recent Posts

  • Digikey Electronics
  • What Is SEO Web Design, And Do I Need It?
  • Wix lays off 100 – Globes
  • Forbes explores sale, hires Citigroup as banker
  • Introverts Can Be Great Speakers. Engagement Is a Must, Not Loud.

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • December 2020
  • November 2020
  • November 2018
  • January 2017

Categories

  • Business
  • Business & Finance
  • Business & Finance News
  • Business Forbes
  • Business News
  • Small Business
Intellifluence Trusted Blogger

backlinks

textlinks

buildinglink.buybacklinks.online/agence-seo 

bestwindshieldwipers2019.xyz © All rights reserved. | Magazine 7 by AF themes.