Month: December 2012

http://www.prweb.com/releases/2012/12/prweb10256221.htm

 

The Equipment Leasing and Finance Association (ELFA) reports economic activity from 25 companies representing a cross section of the $725 billion equipment finance sector, showing their overall new business volume for November was $6.4 billion, up 3 percent from volume of $6.2 billion in the same period in 2011. Their volume was down 16 percent from the previous month, and their year-to-date cumulative new business volume increased 15 percent.

Credit approvals totaled 77.0 percent in November, down from 79.5 percent in October. 46% of participating organizations reported submitting more transactions for approval during November, down from 66 percent the previous month.

Separately, the Monthly Confidence Index (MCI-EFI) for December is 48.5, a decrease from the November index of 49.9, reflecting industry participants’ concerns regarding the impact of fiscal issues on capital expenditures, despite an overall sense of optimism in the equipment finance industry.

It appears we’ve hit our low water mark for interest rates.  Despite our generally incompetent contingent in Washington, it appears 2013 will be a good year for business growth and that will bring with it higher rates.  I recommend making your 2013 expansion purchases and investments as early as possible in the New Year.