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Equipment Finance News Equipment finance sector treads water Published: 4th October 2016 Share Activity in the equipment finance market has picked up, but remains below last year’s levels according to the latest data from the Equipment Leasing and Finance Association (ELFA).Its monthly leasing and finance index based on a cross section of companies in the sector, (MLFI-25) showed their overall new business volume for August was $7.7 billion, up 12% year-over-year from new business volume in August 2015. Volume was up 10% month-to-month from $7 billion in July. However, year to date, cumulative new business volume decreased 6% compared to 2015. Receivables over 30 days were 1.3%, unchanged from the previous month and up from 0.99% in the same period in 2015. Charge-offs were 0.44%, up from 0.38% the previous month. Credit approvals totaled 76.9% in August, up from 75.9%in July. ELFA president and CEO Ralph Petta said: “August data are mixed, with new business volume strengthening when compared both to the same period last year and last month. However, year to date volume still lags behind. Credit quality continues to show some softness, with charge offs and delinquencies inching upward. Taking together the Fed’s September decision to stay pat on interest rates, and the approaching presidential election, the sector continues to give no clear indication about where it’s headed.” Pat Sweet Correspondent - Asset Finance Connect Sign up to our newsletter Featured Stories NewsPACCAR reports strong Q3 revenues and profits Corporate Member NewsPropel Finance assists family-run business with green transition Corporate Member NewsDeko partners with Shire Leasing Equipment Finance