WASHINGTON, D.C. — The Equipment Leasing and Finance Association's Monthly Leasing and Finance Index, which reports economic activity from 25 companies representing a cross section of the $827-billion equipment finance sector, showed their overall new business volume for June was $9 billion, up 5 percent from new business volume in June 2013. Month over month, new business volume was up 30 percent from May. Year to date, cumulative new business volume increased 3 percent compared to 2013.
Receivables over 30 days decreased from the previous month at 1.6 percent, and were up from 1.4 percent in the same period in 2013. Charge-offs were unchanged for the third consecutive month at an all-time low of 0.2 percent.
Credit approvals totaled 80.1 percent in June, an increase from 76.1 percent the previous month. Total headcount for equipment finance companies was up 1.0 percent year over year.
Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index for July is 61.4, unchanged from the previous month.
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