Bill Choi 2017-07-26 06:59:05
Volume Up 7% in First Five Months
Volume Up 7% in First Five Months
ELFA’S MONTHLY LEASING AND FINANCE INDEX for May 2017 showed new business volume was up 13% year-over-year from new business volume in May 2016. Volume was down 3% month-to-month from April. Year to date, cumulative new business volume was up 7% compared to 2016.
Receivables over 30 days were 1.40%, up from 1.30% the previous month and up from 1.30% in the same period in 2016. Charge-off s were 0.47%, up from 0.38% the previous month, and up from 0.33% in the year-earlier period.
Credit approvals totaled 77% in May, up from 75.9% in April. Total headcount for equipment finance companies was up 15.4% year over year, largely attributable to continued acquisition activity at an MLFI reporting company.
Th e 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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