Sectors Reveal 2015 Growth Trends Competition for business turns ELFA members into advisors for a competitive edge BY GWEN MORAN W 44 ITH S TRONG NE W BUSINESS AC TIVIT Y AND LOW DEL INQUENCIES AND LOSSES, the second-quarter 2015 ELFA Beige Book report could be characterized as “more of the same” when compared to recent reports. The Beige Book reports on the economic indi-cators of the industry overall and its four primary sectors—captive and vendor finance, financial institutions, independent middle market and small ticket—that are each represented by an ELFA Business Council Steering Committee (BCSC). Continued strength is good news for members who are benefitting from a strong market. The overall sentiment is optimistic, with a few areas on the horizon that should be watched. “The data are surprisingly consistent, and the feedback from the steering committee meetings is that, by and large, businesses are doing quite well,” says Brian Madison, Chair of the Captive and Vendor Finance BCSC and Senior Vice President of Key Equipment Finance in Superior, Colorado. The Chairs of the four ELFA BCSCs reviewed the latest Beige Book data and shared their insights on the state of the equipment leasing and finance industry. They also outlined some of the factors and indicators that make them hopeful or worried about what lies ahead. Indicators Remain Strong Reports of new business decline ticked upward slightly in the Q2 report, but the Chairs agreed that these may be iso-lated incidents. However, the small ticket sector reported no decline. That surprised Kristin Darby, Chair of the Small Ticket BCSC and Vice President, Risk Management at West-ern Equipment Finance, Inc. in Devils Lake, North Dakota, who says the small ticket sector typically has higher levels of business fluctuation than the other BCSCs. The highest level of decline was reported by the Captive and Vendor Fi-OCTOBER 2015 EQUIPMENT LEASING & FINANCE MAGAZINE ISTOCK