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Manufacturing & The Economy

Credit Utilization at Highest Levels in Over Five Years

The Commercial Finance Association (CFA) recently released its Quarterly Asset-Based Lending (ABL) Index Q2 2014, showing that U.S. businesses utilized 43.1% of their credit lines during the 2nd quarter, a significant increase of two full percentage points (5%) from the first quarter and 0.7% (1.6%) from the same period in 2013.

CFA’s ABL Index, based on information provided by 27 of the nation’s top asset-based lenders, showed that total committed credit lines grew 1.6% over the previous quarter and 6.0% over the same period one year ago. Total committed credit lines amounted to nearly $204 billion at the end of the Q2 2014.

While credit line utilization has consistently increased over the past four years, companies continue to utilize credit at levels significantly below levels in the years before the financial crisis when utilization of credit lines by U.S. businesses was generally higher than 50%. 

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