Surveys Reveal State of Credit & Collections

What are the current and forecasted conditions of credit and collections in the equipment finance industry? Insights are available from ELFA’s 2022 Credit Manager Survey and 2022 Collection Manager Survey with slide decks of data results and key insights from credit and collection professionals and equipment finance executive leadership. Results of both surveys were presented during the 2022 ELFA Credit & Collections Management Conference in June in San Antonio, Texas. 

The Credit Manager Survey covers a wide array of topics, including credit process, credit scoring, turnaround times, approval rates, collateral values, policy changes, regulations, modifications, application thresholds, booking volume, favorable/unfavorable industries, the macroeconomic environment and the outlook at bank, captive, and independent leasing companies. Based on feedback from 168 ELFA survey respondents in March, among the wide range of survey results are strong expectations for booking volume in all groups and categories, and good credit quality despite a slight increase in delinquency. 

The Credit Manager Survey Committee included Cecile Latouche formerly of Atalaya Leasing; Scott McCann of Pinnacle Financial Partners; Patrick Moore of Equifax; Michael (Mic) Mount of US Bank; and Kevin P. Prykull of PNC Equipment Finance - retired.

The Collection Manager Survey captures information pertaining to aging of receivables, productivity measures, resources assigned to collection activities, technological trends and outsourcing strategies. The data collected from 76 ELFA collection professionals in March were grouped by company, ticket size and  organization type. Overall, the results reflect a sound industry with low delinquency and charge-offs, and healthy recoveries. 

The Collection Manager Survey presentation was kicked off by Adam White of Equifax, followed by a panel members Dan Goderis of GreatAmerica Financial Services, Robert Fagen of Eastern Funding LLC and Jim St. Clair of DLL.

Results of both surveys are available for download at ELFA’s Knowledge Hub, the source for business intelligence in the equipment finance industry, at: https://www.elfaonline.org/knowledge-hub/most-popular-resources.