Reported 8 months ago
According to the Equipment Leasing and Finance Association (ELFA), U.S. businesses borrowed 11% more in May compared to the previous year to finance equipment investments. Companies secured new loans, leases, and credit lines totaling $10.2 billion, representing a 7% decrease from the previous month. ELFA's President and CEO noted that the decline in volume in April could indicate businesses are waiting for lower interest rates before acquiring equipment. The credit approval rate for U.S. companies in May remained steady at 75%, with ELFA's non-profit affiliate reporting a confidence index of 50.2 for June. A reading above 50 suggests a positive business outlook.
Source: YAHOO