Bill Choi 2016-03-17 22:50:00
ELFA’S MONTHLY LEASING AND FINANCE INDEX FOR JANUARY 2016 showed overall new business volume down 12% from new business volume in January 2015. Volume was down 52% from $12.5 billion in December, following the typical end-of-quarter, end-of-year spike in new business activity.
In January, receivables over 30 days were 1.3%, up from 1.1% in December and up from 1.1% in January 2015. Charge-off s were 0.26%, down from 0.41% in December.
Credit approvals totaled 78.0% in January, down from 80. 2% in December. Total headcount for equipment finance companies was up 4.6% year over year.
The MLFI-25 measures monthly commercial equipment lease and loan activity as reported by 25 companies representing a cross section of the $1 trillion equipment finance sector, including small-ticket, middle-market, large-ticket, bank, captive and independent equipment leasing and finance companies. Based on hard survey data, the responses mirror the economic activity of the broader equipment finance sector and current business conditions nationally.
For more information and detailed analyses of the MLFI-25, go to www.elfaonline.org/Data/MLFI/.
For more information, please contact Bill Choi, ELFA Vice President of Research & Industry Services, at bchoi@elfaonline.org.
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