Equipment Finance Industry Confidence Improves in November
ELFA 11/21/13: The Equipment Leasing & Finance Foundation (the Foundation) releases the November 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $827 billion equipment finance sector. Overall, confidence in the equipment finance market is 56.9, an increase from the October index of 54.0, demonstrating an overall steady industry outlook despite continuing concerns about the U.S. economy and the negative impact of federal government fiscal policies.
When asked about the outlook for the future, MCI survey respondent Russell Nelson, President, CoBank Farm Credit Leasing, said, "Continued stability and modest growth in the economy combined with increased strength in customer balance sheets, low interest rates, and pent-up demand for replacement/new assets for 2014 and beyond will generate double digit growth for equipment and facility financing over the next 18 to 24 months."
When asked to assess their business conditions over the next four months, 17.2% of executives responding said they believe business conditions will improve over the next four months, up from 11% in October. 79.3% of respondents believe business conditions will remain the same over the next four months, up from 74% in October. 3.4% believe business conditions will worsen, down from 15% who believed so the previous month.
"The industry continues to perform well with historic low delinquency rates. Demand has increased slightly and the end-of-the-year push for transaction closings is in process. We would believe that demand will remain at lower levels until issues regarding the budget crisis and healthcare insurance are fully resolved." Valerie Hayes Jester, President, Brandywine Capital Associates, Inc.
Rates are at historical lows - credit standards have returned to more realistic levels and Brandywine Capital remains committed to helping your company obtain the capital you need to continue to grow your business. We pledge to continue to work in an ethical, efficient and proactive way to provide your financing.
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