Equipment Leasing Grows 18% in April: ELFA

June 10, 2024
Volume is up 17% year over year.

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) showed business volume grew 18% in April compared to March. Volume was $11 billion compared to $9.3 billion in March. Compared to April 2023, volume grew 17%. The index reports economic activity from 25 companies representing a cross section of the equipment finance sector.

Year-to-date, cumulative new business volume was up 4.9% compared to 2023.

Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) in May is 50.7, a decrease from the April index of 52.9.

“The second quarter was off to a strong start with April MLFI results showing solid performance all around,” said Leigh Lytle, ELFA president/CEO, in a statement. “The equipment finance industry continues to demonstrate its resilience despite informal polling of ELFA members that shows interest rates, tighter credit and inflation to a lesser degree are all impacting their businesses. Originations had double-digit growth both year over year and month to month, and credit quality is heading in a positive direction with charge-offs and delinquencies both ticking down last month. All are indicators that bear continued watching in the coming months.”