Monthly Leasing and Finance Index

Equipment Leasing and Finance Association

Equipment Leasing and Finance Association

April New business volume down 8 percent year-on-year, down 7 percent month-on-month and up 0.7 percent year-on-day

WASHINGTON, May 25, 2023 (GLOBE NEWSWIRE) – The Equipment Leasing and Finance Association (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports on the economic activity of 25 companies representing a cross section of the $1 trillion hardware finance sector, showed that their overall new deal volume in April was $9.7 billion, down 8 percent year-on-year from new business volume in April 2022 fell 7 percent from $10.4 billion in March. Since the beginning of the year, the cumulative volume of new transactions has increased by 0.7% compared to 2022.

Receivables over 30 days amounted to 1.8%, down from 1.9%. in the previous month and a decrease from 2.1 percent. over the same period in 2022, write-downs amounted to 0.33%, up from 0.32%. in the previous month and an increase from 0.05 percent. earlier period.

Credit approvals were 77.3 percent, up from 75.3 percent in March. The total number of employees at equipment financing companies fell by 1.8 percent year-on-year.

The Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) was 40.6 in May, down from 47.0 in April.

ELFA President and CEO Ralph Petta said: “April data revealed some softness in the volume of new deals reported by MLFI respondents. It is not clear whether elevated interest rates are limiting liquidity or whether this drop in initiation is just a flash in an otherwise healthy market. Separately, the Foundation’s study indicates that the growing segment of CEOs is somewhat pessimistic about the short-term outlook for the economy as a whole, and the equipment finance industry in particular. We will be closely monitoring these and other economic data to provide ELFA members with useful information as they navigate a volatile economy.”

Jeffrey LaLima, president of Financial Partners Group, said: “We all continue to navigate the ebb and flow of a difficult economy. While this impact has been felt across industries with exceptional circumstances, overall, equipment financing appears to be in a good position. Businesses and consumers remain resilient and are more aware of the role finance plays in strategic long-term capital decisions. We come from a time when access to capital was high and cost was at its lowest in decades. Now we’re seeing more thoughtful conversations and informed decisions – empowering relationships and experienced people to help navigate it all.”

About ELFA’s MLFI-25
The MLFI-25 is the only near-real-time index that reflects capital expenditure, which is the amount of commercial equipment financed in the United States. The U.S. Department of Commerce publishes durable goods report. The MLFI-25 is a financial indicator that complements the Durable Goods Report and other economic indices, including Index of the Supply Management Institutewhich informs about economic activity in the manufacturing sector. Together with the MLFI-25 report, these reports provide a complete picture of the state of manufacturing assets in the US economy: equipment manufactured, purchased and financed.

The MLFI-25 is a time series reflecting two years of business activity of the 25 companies currently participating in the survey. The latest MLFI-25 report, including methodology and participants, is available at

The MLFI-25 is part of the Knowledge Hub, the source of business information in the equipment financing industry. Visit the center at

MLFI-25 methodology
ELFA develops the MLFI-25 to help member organizations gain a competitive advantage by providing them with state-of-the-art research and benchmarking information to support strategic business decision making.

The MLFI-25 is a barometer of trends in US equity investments. Five elements were considered in the survey: size of new business (starts), statute of limitations, write-offs, credit acceptance rates (approved vs. submitted) and number of employees in the equipment finance industry.

The MLFI-25 measures monthly commercial equipment leasing and lending activity reported by participating ELFA member equipment finance companies representing a cross-section of the equipment finance industry, including small tickets, medium and large tickets, banks, internal and independent leasing and company finance. Based on hard survey data, the responses reflect the economic activity of the broadly understood equipment finance industry and current business conditions in the country.

About ELFA
The Equipment Leasing and Finance Association (ELFA) is a trade association representing companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers involved in financing capital goods. ELFA members drive growth in the commercial equipment finance market and contribute to capital formation in the United States and abroad. Its 580 members include independent and subsidiary leasing and finance companies, banks, financial services corporations, brokers/packages and investment banks, as well as manufacturers and service providers. ELFA has been preparing business for success for over 60 years. For more information please visit

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Twitter: @ELFAonline

ELFA is the leading source of statistics and analysis for the equipment financing sector. please visit for more information.

Media/Press Contact: Amy Vogt, Vice President of Communications and Marketing, ELFA, 202-238-3438 or

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