INDUSTRY FACT FILE By Bill Choi New Business Volume Up in 2014 E LFA’S MONTHLY LEASING AND FINANCE INDEX FOR NOVEMBER 2014 showed overall new business volume down 8% when compared to November 2013. When compared to October, new business volume was down 18% month-over-month. Year-to-date, cumulative new business volume increased 6% compared to 2013. Receivables over 30 days decreased from the previous month to 1%, and were up from 0.9% in the same period in 2013. Charge-offs were unchanged for the eighth consecu-tive month at an all-time low of 0.2%. Credit approvals totaled 79.1% in November, an increase from 78.3% the previous month. Total headcount for equip-ment finance companies was up 0.7% year over year. The MLFI-25 measures monthly commercial equip-ment lease and loan activity as reported by 25 companies representing a cross section of the $903 billion 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. ■ For more information and detailed analyses of the MLFI-25, go to www.elfaonline.org/research/MLFI. For more information, please contact Bill Choi , ELFA Vice President of Research & Industry Services, at bchoi@elfaonline.org. New Business Volume Billions of U.S. Dollars $12.0 $11.5 11.0 10.0 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 $6.4 $6.8 $5.7 $4.7 $7.5 $7.5 $8.7 $7.3 $6.4 MLFI Cumulative YTD Comparison (2013/2014): 2013: $77.4 billion 2014: $82.3 billion Percent change: 6.3% $7.8 $7.6 $6.6 $6.0 $5.4 $7.1 $10.7 $9.1 $8.1 $7.0 $7.9 $7.2 $9.4 $8.3 $6.8 11 .12 12 .12 01 .13 02 .13 03 .13 04 .13 05 .13 06 .13 07 .13 08 .13 09 .13 10 .13 11 .13 12 .13 01 .14 02 .14 03 .14 04 .14 05 .14 06 .14 07 .14 08 .14 09 .14 10 .14 11 .14 Aging of Receivables Over 30 Days Percentage 2.0% 1.8% 1.6% 1.4% 1.2% 1.0% 0.8% 0.6% 0.4% 0.2% 0.0% 11 .12 12 .12 01 .13 02 .13 03 .13 04 .13 05 .13 06 .13 07 .13 08 .13 09 .13 10 .13 11 .13 12 .13 01 .14 02 .14 03 .14 04 .14 05 .14 06 .14 07 .14 08 .14 09 .14 10 .14 11 .14 1.3% 1.3% 1.3% 1.1% 1.0% 1.0% 1.0% 1.0% 1.0% 1.1% 1.0% 1.0% 1.0% 1.0% 1.0% 1.2% 1.2% 1.2% 1.2% 1.0% 0.9% 0.9% 0.9% 0.9% 0.9% 12 JANUARY/FEBRUARY 2015 EQUIPMENT LEASING & FINANCE MAGAZINE