The equipment finance industry closed its first deal in the second quarter of 2024, despite the current interest rate levels. Although charge-offs remained elevated compared to pre-COVID figures, the persistently low delinquency rates suggest that charge-offs may return to more typical levels in the coming months. With both economists and Jerome Powell indicating that rate cuts are likely later this year, the equipment finance industry could experience some prosperous coming quarters.

The steady trends in the equipment finance industry drove the small month over month variances in ELFA’s Monthly Confidence Index, which surveys key industry executives.