Since Colonnade last commented on the small ticket equipment leasing and finance industry in September 2018, the sector has been performing well. Volume has grown steadily, capital has been readily available, some new players emerged and there has been significant acquisition activity. The environment abruptly changed in early March 2020 as the scope of the coronavirus crisis emerged and all levels of government began to take necessary, drastic actions to curtail person-to-person transmission of the virus. These actions have pounded the economy, which will seriously impact all financial institutions that fund small to mid-sized businesses.