Monthly Equipment Leasing Activity Down 10 Percent in February
New leasing volume for February was $5.4 billion, down 10 percent from January and up 15 percent from new business volume in February 2013, according to the Equipment Leasing and Finance Association’s (ELFA) monthly leasing index. Year-to-date cumulative new business volume increased 8 percent compared to 2013.
Receivables over 30 days were unchanged from the previous month at 1.8 percent. Delinquencies were down from 2.0 percent during the same period in 2013. Charge-offs were up slightly at 0.4 percent from the previous three months’ all-time low of 0.3 percent.
Credit approvals totaled 75.3 percent in February, a decrease from 76.9 percent the previous month. Fifty-three percent of participating organizations reported submitting more transactions for approval during February, a decrease from 54 percent during January.
For more information, visit www.elfaonline.org.