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ELFA survey of equipment finance activity reports overall new business volume grew 2.5 percent in 2016
- September 12, 2017
- News Release
- Shop Management
New business volume grew 2.5 percent in the equipment finance industry in 2016, according to the “2017 Survey of Equipment Finance Activity (SEFA),” released by the Equipment Leasing and Finance Association (ELFA), Washington, D.C. The rise in new business volume marked the seventh consecutive year that businesses increased their spending on capital equipment. While this rate contrasts sharply with the 12.4 percent growth reported for 2015, the industry nonetheless outperformed the national economy, which grew just 1.6 percent in 2016, according to the U.S. Department of Commerce.
The SEFA report covers key statistical, financial, and operations information for the $1 trillion equipment finance industry, based on a comprehensive survey of 115 ELFA member companies. The report is available at www.elfaonline.org/sefa.
ELFA also released a companion report to the 2017 SEFA called the “2017 Small-Ticket Survey of Equipment Finance Activity.” The report, which focuses on small-ticket and micro-ticket equipment transactions among the SEFA respondents, found that new business volume in the small-ticket space grew by 10.7 percent in 2016.
ELFA President/CEO Ralph Petta said, “The equipment finance industry continues a slow-growth trajectory, mirroring a fundamentally sound—if unspectacular—U.S. economy during the past several years. Despite a slowly rising interest rate environment, leasing and finance companies are profitable entities, with generally healthy portfolios and sustainable levels of returns. Although the makeup of the SEFA respondent base varies widely in terms of size, markets served, financial results, and business operations, they are all bound by one common characteristic: they make meaningful contributions to the health of our nation’s economy by enabling businesses, both large and small, to acquire the necessary equipment to run their business operations.”
Key findings for 2016 as reported in the 2017 SEFA include:Independent organizations experienced a 12 percent increase in new business volume, while banks had a 5 percent increase and captives had a 5.9 percent decrease.
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