As the economy gains steam and builds back toward pre-recession levels, small business owners have become increasingly open to leasing equipment to improve or grow their operations. Such a sentiment was made abundantly clear in the latest edition of an index measuring the performance of the equipment leasing industry.
According to the Equipment Leasing and Finance Association’s monthly index, survey participants in the leasing industry reported economic activity in the sector totaled $7.5 billion in April. That number is a 23 percent year-over-year rise from April 2012 and a 10 percent increase from the month before.
For the year to date, new business volume in equipment leasing is up 8 percent compared to last year. Seventy-two percent of participatory organizations said they submitted more transactions for approval in April than the month before; 50 percent said they had done the same in March.
The rising tide of business in equipment leasing fed directly into increased optimism among organizations in the industry: A separate confidence meter registered a 56.7 in May, up from April’s index reading of 54.
“Both performance indices … provide solid evidence that the demand side of the capital investment equation continues to pick up as the broader economy strengthens,” said William Sutton, ELFA President and CEO. “It is our hope that this trend pushes into the second half of the year.”
Small business owners interested in equipment leasing can contact National Funding on their best available options for procurement.