Equipment finance sector sees 3-percent increase in new business volume
New business volume for November was up 3 percent — $6.4 billion, up from $6.2 billion — a slight increase from the same time in 2011, according to the latest report from 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 $725 billion equipment finance sector.
Volume was down 16 percent from the previous month, according to ELFA, and year-to-date cumulative new business volume increased 15 percent.
Receivables greater than 30 days increased for the first time in six months to 2 percent, up from 1.7 percent in October, and they were unchanged when compared to the same period in 2011, according to ELFA. Charge-offs were up from the previous month at 0.5 percent, and down by 28.6 percent compared to the same period last year, ELFA says.
MORE FROM Articles
SUBSCRIBE & FOLLOW
- Miner suspended upside down pulled to safety by his pant legs621 Views
- Caterpillar lays off hundreds more, announces plant closing in North Carolina358 Views
- Cat 6015B hydraulic shovel offers increased power, more loading capacity330 Views
- Transportation funding extended through Dec. 4 as House and Senate work out long-term bill254 Views
- Martin Marietta names new executive vice president218 Views