Bill Choi 2016-11-15 00:36:38
Q3 Ends on Positive Note
ELFA’S MONTHLY LEASING AND FINANCE INDEX FOR SEPTEMBER 2016 showed new business volume was up 12% year-over- year from new business volume in September 2015. Volume was up 22% month-to-month from August. Year to date, cumulative new business volume decreased 4% compared to 2015.
Receivables over 30 days were 1.31%, relatively unchanged from the previous month and up from 1.10% in the same period in 2015. Charge-off s were 0.46%, up from 0.44% the previous month.
Credit approvals totaled 76.6% in September, down slightly from 76.9% in August. Total headcount for equipment finance companies was up 3.8% 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.
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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