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Equipment Finance Survey Shows 2010 Industry Growth

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Following declines in new business volume in 2008 and 2009, the equipment finance industry began to regain volume in 2010, according to the 2011 Survey of Equipment Finance Activity (SEFA) released in July by the Equipment Leasing and Finance Association.

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The survey reported an overall 3.9% increase in volume in 2010, compared to a significant 30.3% decline reported in 2009 and a 2.2% decline reported in 2008. The SEFA, based on responses from 108 ELFA member companies, covers key statistical, financial and operations information for the $521-billion equipment finance industry.


“Through 2010, the equipment finance industry showed gradual but steady growth,” said William G. Sutton, ELFA president and CEO. “Although uncertainty about the broader economy continues, more recent data collected in the first two quarters of 2011 suggests the trend toward an improved equipment finance industry is continuing.” 
 


Survey Highlights
Key findings for 2010 as reported in the 2011 SEFA include:


• New business volume varied by respondent. Although total new business volume increased by a moderate 3.9%, just under half of the survey respondents experienced an increase in volume between 2009 and 2010.


• By market segment: All market segments showed growth in volume, except for the small-ticket segment, which saw a contraction in volume. 


• By organization type: Captive equipment finance organizations saw the strongest increase in new business volume (11.3%). Independents saw their volume grow by 5.2%, reversing their significant 46.3% decrease in volume reported in the 2010 SEFA. Banks saw a slight decline (0.9%) in volume.


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