New business for leasing increased 14% in August compared to the previous year, according to the Monthly Leasing and Finance Index (MLFI-25) published by the Equipment Leasing and Finance Association. The Index reports economic activity from 25 equipment-finance companies.
Overall new business volume for August was $10.1 billion, up 2% from the $9.9 billion reported in July. Year-to-date, cumulative new business volume was up 2.8 percent compared to 2022.
“At its recent meeting, the Fed signaled to keep interest rates artificially elevated for the time being, hoping to continue its campaign to control inflation,” said Ralph Petta, president/CEO, in a statement. “Despite this higher interest rate environment, many businesses continue to invest in productive assets. As they do, equipment finance companies are providing the necessary capital to help these businesses thrive and prosper.”
