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US business equipment borrowings decline in April, ELFA says

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
U.S. companies borrowed 4.4% less to finance equipment investments in April compared with the same period from the year earlier, the Equipment Leasing and Finance Association (ELFA) said on Wednesday.
In April, U.S. businesses experienced a decline in borrowing to finance equipment investments, as reported by the Equipment Leasing and Finance Association (ELFA). The ELFA's Monthly Leasing and Finance Index showed a 10% decrease in new business volume from March to April, totaling $8.5 billion, and an 8% drop compared to April of the previous year. Despite the decline, ELFA President and CEO Leigh Lytle noted that the equipment finance market remains robust, with businesses continuing to invest in equipment to support their operations. The report also highlighted a slight increase in credit approvals and a decrease in delinquencies, suggesting a stable, albeit cautious, lending environment.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/topstories/us-business-equipment-borrowings-decline-in-april-elfa-says/ar-AA1Fe0FG ]


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