Confidence in the equipment leasing and financing industry remains high, a new report has found. According to the Equipment Leasing and Finance Association’s (ELFA) Monthly Confidence Index for the Equipment Finance Industry, confidence in the equipment finance sector has held steady at 65.1 for the second month in a row, marking its highest level in two years.
Those in the industry remain confident in the market and the overall state of their businesses, the survey found. When asked to gauge the future of their businesses for the next four months, 37 percent of company decision makers said they think business conditions will improve, up from 31.4 percent of respondents who said the same in March. Approximately 60 percent of respondents said they believe conditions will remain the same over the next four months, a drop from 65.7 percent who replied similarly the month prior. Just 2.9 percent of participants said they predict business conditions will worsen, a figure unchanged from the month before.
Survey participant Thomas Jaschik said his outlook for the future is positive.
“The first quarter of 2014 had positive results with respect to new business activity, and the economy is on a positive trajectory,” Jaschik said. “The conclusion of the winter of 2013-2014 may be the catalyst for pent up demand to begin to be released. This will have a positive impact on the equipment finance market throughout 2014.”
Survey participants expect demand for leases and loans will increase
The MCI found survey respondents are largely optimistic about the state of the equipment leasing and financing industry. Around 37 percent of respondents said they believe demand for leases and loans will increase over the next four months, up from 31.4 percent who responded similarly in March. Sixty percent said they believe demand will “remain the same” and 2.9 percent said they believe it will decline during that period, down from 5.7 percent who said the same in March.
As demand for leases and loans increases, business owners may want to explore their equipment leasing options through lenders like National Funding. Whether company owners are looking for top of the line technology to stay ahead of competitors or heavy machinery to tackle everyday business challenges, National Funding provides solutions to common small business challenges. Instead of investing up front in technology that will be replaced with a newer model in six months, individuals can explore their leasing options instead so they can test drive equipment before making a commitment.