New business volume grew 16.5% in the equipment finance industry in 2011, according to the 2012 Survey of Equipment Finance Activity (SEFA) released by the Equipment Leasing and Finance Association (ELFA). The growth in volume surpassed the 3.9% increase reported for 2010, marking the second year of growth following a 30.3% decline in 2009 and a 2.2% decline in 2008. The SEFA, which is based on responses from 109 ELFA member companies, covers key statistical, financial and operations information for the $628 billion equipment finance industry.
“The equipment finance industry helps a wide range of commercial businesses to acquire the equipment they need to conduct their business operations,” said William G. Sutton, ELFA President and CEO. “The 2012 SEFA data show the equipment finance sector continued to gain momentum as the economy improved in 2011. More recent data collected in 2012 indicate that steady growth is continuing, even amid a slow economic recovery.”