Bill Choi 2016-07-29 04:45:37
ELFA’S MONTHLY LEASING AND FINANCE INDEX FOR MAY 2016 showed overall new business volume was down 7% yearover- year from new business volume in May 2015. Month over month, new business volume was down 7% from April, while year to date, cumulative new business volume decreased 9% compared to 2015.
In May, receivables over 30 days were 1.3%, an increase from the previous month and up from 1.09% in the same period in 2015. Charge-off s were 0.33%, up slightly from 0.31% the previous month.
Credit approvals totaled 76.5% in May, down from 78.2% in April. Total headcount for equipment finance companies was up 4.3% 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 fi - nance companies. Based on hard survey data, the responses mirror the economic activity of the broader equipment fi - nance 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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