Industry Overview

Equipment finance not only contributes to businesses’ success, but to U.S. economic growth, manufacturing and jobs. More than 8 in 10 U.S. companies (82%) use some form of financing when acquiring equipment, including loans, leases and lines of credit (excluding credit cards).  

In 2023, $2.3 trillion was invested by U.S. businesses, nonprofits and government agencies in plant, equipment and software. Approximately 57.7%, or $1.34 trillion of that investment, was financed through loans, leases and lines of credit. America's equipment finance companies are the source of such financing, providing access to capital.  

Of the total market for financing in 2023, banks accounted for 59% of financed acquisitions, captives (manufacturer or vendor financing) accounted for 17%, and independents comprised 15% and fintechs 7%. 

ELFA members finance the acquisition of all types of capital equipment and software including:   

Overall size: $1.34 trillion

Market penetration: More than 8 in 10 U.S. companies (82%) use some form of financing when acquiring equipment, including loans, leases, and lines of credit (excluding credit cards).  

Of the $2.3 trillion that U.S. businesses, nonprofits, and government agencies invested in capital goods and software in 2023, 58%, or $1.34 trillion of that investment, was financed through loans, leases, and other financial instruments. 

Source: Equipment Leasing & Finance Foundation - 2024 Equipment Leasing & Finance Industry Horizon Report.

Source: Equipment Leasing & Finance Foundation - 2024 Equipment Leasing & Finance Industry Horizon Report.

Discover equipment finance statistics and facts for 10 equipment sectors, including:

View the economic impact of the equipment finance industry in each state. Access total business volume, percent change year-over-year and state rankings.