ELFA reports $4.9B in loan and lease originations for October

11/22/2010 | ABC News

Equipment-loan origination and debt repayment continued to improve in October, according to ELFA. The association reported that businesses originated $4.9 billion in loans, leases and lines of credit for capital equipment, a 14% increase compared with October 2009. Loans delinquent 30 days or more were at their lowest level in two years, at 2.95%. That compares with 3.41% in September and 4.2% in October 2009. "All indicators point to an improved equipment-finance industry," said ELFA President William Sutton. "Hopefully, these positive trends will continue as the broader economy struggles to recover."

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