The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) shows overall new business volume for March 2014 at $7 billion, up 3% from new business volume in March 2013. Month-over-month, new business volume was up 30 from February, and year to date, cumulative new business volume increased 6% compared to 2013.
Credit approvals totaled 77.8% in March, an increase from 75.3% the previous month. Sixty-five percent of participating organizations reported submitting more transactions for approval during March, an increase from 53% during February. And total headcount for equipment finance companies was up 4.4% year-over-year.
The Equipment Leasing & Finance Foundation's Monthly Confidence Index (MCI-EFI) for April is 65.1, remaining at the highest index level in two years for the second consecutive month.
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