Rise of E-Docs
Even before the pandemic, the use of electronic documents was on the rise in the equipment finance industry. The pandemic accelerated the adoption rate, as the graph below indicates.Source: 2022 SEFA
That’s the rate of non-tax-oriented leases and term loans in 2021, continuing a multi-year rise interrupted only in 2020. Source: 2022 SEFA
September MLFI Year-Over-Year
See details at www.elfaonline.org/data/MLFI
New Business Volume
Aging
Charge-offs
Credit Approvals
Employment
Not So Silent Majority
The majority of equipment and software acquisitions are financed, according to the Foundation’s 2022 Industry Horizon Report, also known as the Market Sizing Study. Equipment and software investment expanded by 12% to $2.0 trillion in nominal terms in 2021. An estimated 57.3% of this investment (and 61.8% of private sector investment) was financed, yielding an industry sizing estimate of about $1.16 trillion. Access the report here.
It’s a Hybrid
Many employees and managers prefer some form of hybrid setup because of the flexibility that comes with remote work as well as the community benefits of working in-office, a theme explored in the Foundation’s 2022 Industry Future Council Report. Equipment finance firms have a variety of setups, from 100% remote to 100% in-person, and each company must determine a hybrid work regime that works best for its individual
circumstances. Learn more.
