We also see a lot of shopping for equipment financing through our channels. There continues to be pent-up demand, which at a base level is a positive sign for not only our business but for a continuation of the current economic turnaround
Boston, MA (PRWEB) December 23, 2013
The Equipment Leasing & Finance Foundation (the Foundation) released the November 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) this past week, citing a bit more optimistic environment from its October report. The index reports a monthly assessment of the prevailing business conditions in the equipment lease and finance sector as reported by key executives. Economists and Wall Street investors believe the $827 billion equipment finance sector, to be one of the leading indicators for economic growth.
To learn more about equipment leasing rates, go to: http://blog.leaseq.com/equipment-leasing/equipment-leasing-rates
This month’s report was far more optimistic than October’s report, which was largely affected due to the government stalemate in Washington. Overall, confidence in the equipment finance market is 56.9, a slight but notable increase from the October index of 54.0. The numbers indicate that despite stalemates in Washington, the industry continues to maintain an overall steady outlook despite ongoing concerns about the sustainability of the US economy and federal fiscal policies.
When asked about the outlook for the future, Founder and CEO of the equipment lease and finance marketplace LeaseQ said, “Ongoing economic stability and modest growth combined with increased strength in customer balance sheets bode well for the future of the industry. On our supply side at LeaseQ, lenders have money available and rates are some of the best we’ve seen in some time. We also see a lot of shopping for equipment financing through our channels. There continues to be pent-up demand, which at a base level is a positive sign for not only our business but for a continuation of the current economic turnaround.”
Other industry insiders are seeing similar trends to what LeaseQ’s Tirey is seeking. Low interest rates and pent-up demand for replacement and or updating of new assets in 2014 and beyond will likely generate double digit growth for equipment financing over the next 18 to 24 months, according to one industry insider.
The November 2013 survey results seem to corroborate these opinions. Optimism in the MCI-EFI survey, which is designed to collect a qualitative assessment of the conditions in the industry gathered from key executives in the industry, rose overall in November. Overall MCI-EFI was reported at 56.9 in November, an increase from the October index of 54.0, with 17.2 percent of respondents said they believe business conditions will improve over the next four months – up from 11 percent in October. And most importantly, only 3.4 percent of respondents believe business conditions will worsen, down from 15 percent who believed so the previous month.
Looking towards 2014 and beyond, 13.8 percent of respondents felt that demand for leases and loans to fund capital expenditures will likely increase, practically doubling from the 7.4 percent mark in October. Those executives who believe demand will stay the same was largely unchanged, but 10.3 percent believe demand will decline, down from 15 percent in the October survey.
About LeaseQ
LeaseQ is an online service composed of businesses, equipment dealers, and leasing/financing companies to provide a rapid and efficient approval process for financing and leasing equipment for businesses. The LeaseQ platform is a free, cloud based option powered by a state-of-the-art underwriting engine known as the LeaseQ One Touch platform. The LeaseQ One Touch platform runs real-time personal and business credit scores without impacting the business owner’s personal credit. This fast process means that business owners can come back over and over with no impact on their credit rating. The LeaseQ One Touch platform is fast, simple and best of all 100% free of charge.
Based in Woburn MA, LeaseQ is one of the leading providers of equipment leasing and financing options in the country. Try their online leasing and financing platform by visiting them online at https://www.LeaseQ.com.