ELFA's December New Business Volume Up 27%

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity for the $521 billion equipment finance sector, showed overall new business volume for December was $9.0 billion, up 27 percent compared to the same period in 2009, and a 100 percent increase from November’s volume of $4.5 billion.  Typically strong year-end activity is responsible for a large part of this spike in new business volume. Year-end new business volume for 2010 was $59.6 billion, up 9.2 percent compared to 2009. Total headcount for equipment finance companies remained flat in November and December, a decrease of six percent compared to the same period in 2009.  Supplemental data shows that the construction and trucking sectors led the underperforming sectors in December.  

“While December is historically a strong month as equipment finance companies complete end-of-year transactions, we continue to be encouraged by the strength and trajectory of these trend lines in business activity,” ELFA president William G. Sutton said. “It is very encouraging to see the positive momentum building across so many key indicators in our industry,” said Stan Herkelman, President, GreatAmerica Leasing Corporation.  “We are cautiously optimistic as we head into 2011 and see an increasing number of businesses focusing on growth.”