{"id":62935,"date":"2020-09-17T09:00:01","date_gmt":"2020-09-17T13:00:01","guid":{"rendered":"https:\/\/retrofitmagazine.com\/?p=62935"},"modified":"2020-09-17T12:34:42","modified_gmt":"2020-09-17T16:34:42","slug":"survey-of-equipment-finance-activity-reports-new-business-volume-growth","status":"publish","type":"post","link":"https:\/\/retrofitmagazine.com\/survey-of-equipment-finance-activity-reports-new-business-volume-growth\/","title":{"rendered":"Survey of Equipment Finance Activity Reports New Business Volume Growth"},"content":{"rendered":"\n

New business volume grew 10.5 percent in the equipment finance industry in 2019, according to the\u00a02020 Survey of Equipment Finance Activity (SEFA)<\/strong><\/a>\u00a0released by the\u00a0Equipment Leasing and Finance Association (ELFA)<\/strong><\/a>. The rise in new business volume marked the 10th consecutive year that businesses increased their spending on capital equipment. The 2020 SEFA covers key statistical, financial and operations information for the $900 billion equipment finance industry, based on a comprehensive survey of 100 ELFA member companies. While the report does not reveal the impact of the COVID-19 pandemic on the equipment finance industry\u2014as it focuses on data from fiscal year 2019\u2014it provides insight into multiple aspects of the industry, as well as the state of the industry preceding the pandemic.<\/p>\n\n\n\n

Survey Highlights<\/h4>\n\n\n\n

Key findings for 2019 as reported in the 2020 SEFA include:<\/p>\n\n\n\n

\u2022\u00a0\u00a0\u00a0New business volume grew 10.5 percent in 2019. The rise was stronger than the 4.4 percent increase achieved in 2018, and considerably stronger than the growth of the nation\u2019s GDP, reported at 2.3 percent for 2019 by the U.S. Department of Commerce.
\u2022\u00a0\u00a0\u00a0By organization type, banks saw a 12.8 percent increase in new business volume, independents saw an 8.4 percent increase and captives saw a 6.9 percent increase. By market segment, new business volume grew 20 percent in the large ticket segment, 9 percent in middle ticket and 8.1 percent in small ticket.
\u2022\u00a0\u00a0\u00a0From an asset perspective, the top-five most-financed equipment types were transportation, IT and related technology services, construction, agricultural and industrial\/manufacturing. The top five end-user industries representing the largest share of new business volume were services, agriculture, wholesale\/retail, industrial and manufacturing, and transportation.
\u2022\u00a0\u00a0\u00a0Delinquencies\u00a0edged up in 2019 to 2.1 percent, from 1.8 percent in 2018. Delinquencies have been on the rise since 2013 when only 1.2 percent of receivables were over 31 day past due.
\u2022\u00a0\u00a0\u00a0Charge-offs\u00a0increased marginally overall to 0.3 percent of average receivables in 2019.
\u2022\u00a0\u00a0\u00a0Credit approvals\u00a0remained steady year-over-year, as did the percentage of those approved applications being booked.
\u2022\u00a0\u00a0\u00a0Employment\u00a0levels grew slightly by 1.2 percent.<\/p>\n\n\n\n

ELFA also released a companion report to the 2020 SEFA called the 2020 Small-Ticket Survey of Equipment Finance Activity. The report, which focuses on small-ticket and micro-ticket equipment transactions among the SEFA respondents, found that new business volume in the small-ticket space grew by 5.8 percent in 2019.<\/p>\n\n\n\n

PricewaterhouseCoopers LLP administered the 2020 SEFA. The results were compiled from surveys sent to 352 eligible ELFA member companies in the first quarter of 2020. A total of 100 companies submitted 2019 U.S. domestic lease and loan data.<\/p>\n\n\n\n

\u201cWe are pleased to share the results of the 2020 Survey of Equipment Finance Activity,\u201d says ELFA President and CEO Ralph Petta. \u201cThe world is a very different place today in the midst of the COVID-19 pandemic than it was in 2019.\u00a0 However, the 2019 statistics included in this report provide valuable industry benchmark data. The 2020 SEFA, the Interactive SEFA Dashboard and the personalized MySEFA data visualization tool are all designed to help users make more informed, data-driven decisions. We thank all the ELFA member respondents, without whom this leading industry data source would not be possible.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

New business volume grew 10.5 percent in the equipment finance industry in 2019, according to the\u00a02020 Survey of Equipment Finance Activity (SEFA)\u00a0released by the\u00a0Equipment Leasing and Finance Association (ELFA). The rise in new business volume marked the 10th consecutive year that businesses increased their spending on capital equipment. The 2020 SEFA covers key statistical, financial<\/p>\n","protected":false},"author":193,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Survey of #EquipmentFinance Activity Reports New Business Volume Growth @ELFAOnline","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[201],"tags":[30297,6557,31521,34483],"ppma_author":[48882],"jetpack_publicize_connections":[],"yoast_head":"\nSurvey of Equipment Finance Activity Reports New Business Volume Growth - retrofit<\/title>\n<meta name=\"description\" content=\"New business volume grew 10.5 percent in the equipment finance industry in 2019, according to the 2020 Survey of Equipment Finance Activity (SEFA) released by ELFA.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/retrofitmagazine.com\/survey-of-equipment-finance-activity-reports-new-business-volume-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Survey of Equipment Finance Activity Reports New Business Volume Growth - 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