Equipment Leasing and Finance New Business Up in November
The Equipment Leasing and Finance Association (ELFA), which reports economic activity from 25 companies representing a cross-section of the $725-billion equipment finance sector, showed that the industry’s overall new business volume for November was $6.4 billion, up 3% from volume of $6.2 billion in the same period in 2011.
The companies’ volume was down 16% from the previous month, and their year-to-date cumulative new business volume increased 15%. Receivables over 30 days increased for the first time in six months to 2.0%, up from 1.7% in October, and they were unchanged when compared to the same period in 2011.