US Business Equipment Borrowings Rise More Than 8% Year-over-Year in November, ELFA Says

Us Business Equipment Borrowings Rise More Than 8 Year over year in November Elfa Says
1 year ago

U.S. companies borrowed 8.7% more to finance equipment investments in November compared with the same period a year earlier, the Equipment Leasing and Finance Association said on Friday.

New loans, leases, and lines of credit signed up by companies in November rose to $10.36 billion, from $9.53 billion in the year-ago period.

The Washington-based trade association, which reports economic activity for the more than $1 trillion equipment finance sector, also said that credit approvals for U.S. companies were at 74% in November this year.

The Equipment Leasing & Finance Foundation, ELFA’s non-profit affiliate, said its confidence index for December reached a fresh three-year high, indicating that executives expect continued strength in lending volumes and further improvements in financial conditions.

The ELFA CapEx Finance Index of leasing and finance activity is based on a 25-member survey which includes Bank of America (NYSE: BAC) as well as the financing units of Caterpillar (NYSE: CAT), Dell Technologies (NYSE: DELL), Siemens AG, Canon, and Volvo AB.

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Jennifer Tacker
Jennifer Tacker is a staff writer at ABBO News. She holds a B.A. from the University of Waterloo and a B.Ed from Western University. Jennifer has been active in the stock market and crypto sector for a decade. She specializes in technical analysis and trading strategies. Read Full Bio

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