{"id":112650,"date":"2021-04-22T19:26:31","date_gmt":"2021-04-22T19:26:31","guid":{"rendered":"https:\/\/fin2me.com\/?p=112650"},"modified":"2021-04-22T19:26:31","modified_gmt":"2021-04-22T19:26:31","slug":"u-s-business-borrowing-for-equipment-rises-4-in-march-elfa","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/u-s-business-borrowing-for-equipment-rises-4-in-march-elfa\/","title":{"rendered":"U.S. business borrowing for equipment rises 4% in March &#8211; ELFA"},"content":{"rendered":"<figcaption>FILE PHOTO: A worker clears a machine jam inside of an Amazon fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2017. REUTERS\/Lucas Jackson<\/figcaption><p>(Reuters) &#8211; U.S. companies\u2019 borrowings for capital investments rose 4% in March from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Thursday.<\/p>\n<p>The companies signed up for $9.3 billion in new loans, leases and lines of credit last month, up from $8.9 billion a year earlier. However, borrowings in March rose 26% from the previous month.<\/p>\n<p>\u201cThe equipment finance industry appears poised to take advantage of an economic tailwind that is manifesting itself in an improving labor market, a continued low interest-rate environment, a strong corporate earnings season, and high business confidence that is creating demand for investment in commercial equipment,\u201d said ELFA Chief Executive Officer Ralph Petta.<\/p>\n<p>\u201cELFA member organizations also report improving portfolio quality, which is reflective of their customers\u2019 ability to meet their payment obligations as the pandemic\u2019s grip on many businesses loosens.\u201d<\/p>\n<p>Washington-based ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals rose to 77% in March, from 75.8% in February.<\/p>\n<p>ELFA\u2019s leasing and finance index measures the volume of commercial equipment financed in the United States.<\/p>\n<p>The index is based on a survey of 25 members, including Bank of America Corp, CIT Group Inc and the financing affiliates or units of Caterpillar Inc, Dell Technologies Inc, Siemens AG, Canon Inc and Volvo AB.<\/p>\n<p>The Equipment Leasing and Finance Foundation, ELFA\u2019s non-profit affiliate, reported monthly confidence index of 76.1 in April, an increase from the March reading of 67.7.<\/p>\n<p>A reading of above 50 indicates a positive business outlook.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/usa-economy-elfa\/u-s-business-borrowing-for-equipment-rises-4-in-march-elfa-idUSL4N2MF3JH\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: A worker clears a machine jam inside of an Amazon fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2017. REUTERS\/Lucas Jackson(Reuters) &#8211; [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":112649,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. business borrowing for equipment rises 4% in March - ELFA - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/u-s-business-borrowing-for-equipment-rises-4-in-march-elfa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. business borrowing for equipment rises 4% in March - ELFA - Fin2me\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: A worker clears a machine jam inside of an Amazon fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2017. 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