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Equipment Leasing Industry Shows 24 Percent Increase in New Business Volume

Wednesday, June 15, 2005

Equipment leasing is a $200 billion dollar industry in the US and 80% of US businesses use equipment leasing.

The Equipment Leasing Association (ELA) on May 31, 2005 released the Monthly Leasing Index (MLI), which surveys approximately 20 major equipment leasing companies on a monthly basis. Results of the April 2005 MLI show new business volume increased from March's $3.8 billion to $4.7 billion in April, an increase of 24%.

Delinquencies (net of unearned income billed but not yet received) decreased very slightly for the under-30 days category to 98.0% in April compared to 98.46% in March.

Credit approval ratios, however, decreased to 76.3% over March's 83.2%.

Average charge-offs also decreased, coming in at 0.36% from March's 0.53%.

The total number of employees increased 2.1% in April to 9,259 compared to 9,072 in March, continuing the upward trend in employment.

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