New business volume grew 12.4% in the equipment finance industry in 2015, according to the 2016 Survey of Equipment Finance Activity (SEFA) released by the Equipment Leasing and Finance Assn. (ELFA). The rise in new business volume marked the sixth consecutive year that businesses increased their spending on capital equipment.
The SEFA report covers key statistical, financial and operations information for the $1 trillion equipment finance industry, based on a comprehensive survey of 116 ELFA member companies. The report is available at www.elfaonline.org/SEFA.
In 2015 agricultural equipment represented 9.1% of equipment financing new business volume reported by ELFA member companies, down from 12.4% in 2014. As an end-user of equipment finance, the agriculture industry represented 11.9% of new business volume reported by ELFA member companies, down from 14.5% in 2014.