Equipment Finance Quarterly Update: 2023 Second Quarter

Despite rising rates and associated economic headwinds, new business volume was robust in the 2nd quarter, up 11.1% from Q1 2023 and nearly returning to prior year levels. Banks have begun tightening senior credit facilities, creating demand for supplemental capital from equipment finance operators.

The Equipment Leasing & Finance Foundation measures confidence among industry leaders every month. Industry confidence continued to fall in April and May as rate hikes and banking crisis-related uncertainty dampened industry sentiment. Sector confidence rebounded to 44.1 in June as the banking sector stabilized and the Fed elected to hold the Federal Funds Rate steady.

Equipment Finance Quarterly Update 2023 Q2