ELFA - Equipment Leasing and Finance Association - Equipping Business for Success

About the MLFI-25

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One of ELFA’s most widely used survey-based business intelligence resources, the Monthly Leasing and Finance Index (MLFI-25) is designed to help member organizations achieve competitive advantage by providing leading-edge industry data that informs their strategic decision-making. It’s an indicator of the health of the equipment finance sector and the extent of equipment demand in a given month.

The MLFI-25 is the only near-real-time index that reflects capex, or the volume of commercial equipment financed in the U.S. It is released globally each month at 8 a.m. Eastern time from Washington, D.C., on the day before the U.S. Department of Commerce releases the durable goods report. Analysis has shown a strong correlation in performance between the two data sets, and the MLFI-25 also complements other economic indexes, including the Institute for Supply Management Index, which reports economic activity in the manufacturing sector. Together with the MLFI-25 these reports provide a complete view of the status of productive assets in the U.S. economy: equipment produced, acquired and financed.

The MLFI-25 is a time series that reflects two years of business activity for the 25 companies currently participating in the survey.

View the latest Monthly Leasing and Finance Index

MLFI-25 2024 Release Dates

  • Jan 2024 MLFI:
    Mon, Feb 26, 2024
  • Feb 2024 MLFI:
    Mon, March 25, 2024
  • March 2024 MLFI:
    Tue, April 23, 2024
  • Apr 2024 MLFI:
    Thu, May 23, 2024
  • May 2024 MLFI:
    Wed, June 26, 2024
  • June 2024 MLFI:
    Wed, July 24, 2024
  • July 2024 MLFI:
    Fri, Aug 23, 2024
  • Aug 2024 MLFI:
    Wed, Sep 25, 2024
  • Sept 2024 MLFI:
    Thu, Oct 24, 2024
  • Oct 2024 MLFI:
    Tue, Nov 26, 2024
  • Nov 2024 MLFI:
    Mon, Dec 23, 2024

MLFI-25 Methodology

The MLFI-25 measures monthly commercial equipment lease and loan activity as reported by the same 25 participating ELFA member equipment finance companies representing a cross section of the equipment finance sector, including small ticket, middle-market, large ticket, bank, captive and independent leasing and finance companies. The responses mirror the economic activity of the broader equipment finance sector and current business conditions nationally. The MLFI-25 provides a snapshot of the general direction of five key metrics:

  • New business volume
  • Accounts receivable
  • Average losses (charge-offs)
  • Credit approvals
  • Change in headcount.

Through this collection of metrics, organizations can benchmark their operations and gauge their performance against industry peers.

Full Listing of MLFI Participants

The MLFI reports economic activity from 25 companies representing a cross section of the equipment finance sector, drawn from the companies listed below:

  • Bank of America Global Leasing
  • Bank of the West
  • BMO Harris Equipment Finance
  • Canon Financial Services, Inc.
  • Caterpillar Financial Services Corporation
  • Citizens Asset Finance, a division of Citizens Bank, N.A.
  • Dell Financial Services
  • DLL
  • Fifth Third Bank, National Association
  • First American Equipment Finance, an RBC / City National Company
  • First Citizens Bank Equipment Finance
  • Frost Equipment Leasing and Finance
  • GreatAmerica Financial Services
  • HP Inc.
  • HPE Financial Services Company
  • Huntington Equipment Finance
  • John Deere Financial
  • Key Equipment Finance
  • LEAF Commercial Capital Inc.
  • M&T Bank Corporation
  • Merchants Bank Equipment Finance
  • Mitsubishi HC Capital America, Inc.
  • PNC Equipment Finance
  • Société Generale Equipment Finance
  • Siemens Financial Services, Inc.
  • Stearns Bank N.A.
  • Stonebriar Commercial Finance
  • TD Equipment Finance, Inc.
  • TIAA Bank
  • U.S. Bank
  • Volvo Financial Services
  • Wells Fargo Equipment Finance

Special Cuts

ELFA also produces separate cuts of MLFI data:
  • The Small Ticket MLFI is a subset of the MLFI-25 companies whose total volume is comprised of 80% or more of small-ticket transactions.
  • The Financial Institutions MLFI collects data from additional smaller banks not reporting in the MLFI-25.
View the latest data