Bill Choi 2017-03-10 04:31:25
ELFA’S MONTHLY LEASING AND FINANCE INDEX for January 2017 showed new business volume was up 3% year-over-year from new business volume in January 2016. Volume was down 49% month-to-month from December, following the typical end-of-quarter, end-of-year spike in new business activity.
Receivables over 30 days were 1.70%, up from 1.40% the previous month and up from 1.30% in the same period in 2016. Charge-offs were 0.43%, up slightly from 0.42% the previous month, and up from 0.26% in the year-earlier period.
Credit approvals totaled 75.4% in January, down from 77. 4% in December. Total headcount for equipment finance companies was up 18.3% year over year, a spike largely attributable to acquisition activity at an MLFI reporting company.
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.
View the latest MLFI at 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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