Editor’s Note: This letter reflects information available at the time of publication.

There’s a common theme you’ll notice among several of the articles in this month’s issue of EL&F Magazine: uncertainty—specifically, uncertainty caused by tariffs. And it’s no wonder; tariffs have thrown a wrench into expectations for 2025.

Last year was an exceptional one for equipment finance. We ended 2024 with strong numbers and entered 2025 full of momentum—and even greater expectations.

Sure, things are a bit bumpy right now—and for many of us, this year isn’t unfolding quite the way we imagined. But here’s the perspective I keep coming back to: it’s still a great time to be in equipment finance.

Our industry remains in solid shape coming off last year’s high. And as long as the economy avoids a recession, we expect the industry to have a solid 2025 overall.

So rather than fixate on the short-term ups and downs—much of which we can’t predict or control anyway—I hope we stay focused on what we can control: preparing our businesses to meet tomorrow’s biggest challenges.

From rapidly evolving technology to a transforming workforce, there’s no shortage of challenges we can (and must) begin preparing for today. As you’ll see in our feature story, that’s exactly what many equipment finance companies are already doing— rising to the moment with innovation. And that’s critical, because innovation is the key to ensuring our industry remains resilient into the future. It’s the same reason we’re making significant investments in innovation at ELFA.

Whatever happens in the coming months, know this: ELFA has your back. We’ll keep you posted on key developments that may affect you. And we’ll never stop advocating for you and this industry—no matter what.