NEW YORK (PRWEB) November 01, 2018
The Commercial Finance Association Education Foundation today released its third Secured Lending Confidence Index “SLCI”. The index, initially launched in April 2018, reflects prevailing business conditions and is a broad-based leading indicator of vitality in the U.S. middle market. The SLCI surveys leaders of commercial finance companies who provide secured loans used to finance ongoing operations, expansion and recapitalization of mid-market companies, according to Richard D. Gumbrecht, CEO of the Commercial Finance Association.
“The latest Confidence Index reflected that although there is a continued positive outlook on the industry, much of the confidence over the past 6 months has already transpired through increased commitments and outstandings during the same time period. The fact that both large/medium lenders and entrepreneurial lenders reported a positive outlook for demand and new loan originations as well as an increase in hiring expectations is encouraging,” said Miin Chen, Chief Financial Officer, Siena Lending Group.
“These outcomes demonstrate that the Confidence Index is a reliable tool in helping our members see around corners and assist them in making appropriate business decisions,” said CFA Education Foundation Executive Director, Greg Slowik,
The SCLI measures five dimensions of anticipated activity over the coming three months including overall business conditions, portfolio performance, demand for new business, client utilization and hiring expectations. Respondents indicated the most optimism for new business demand followed by business conditions overall, both positive indicators for the U.S. economy.
The SCLI is conducted quarterly.
About the Commercial Finance Association
Founded in 1944, the Commercial Finance Association is the international trade organization representing the asset-based lending, factoring, trade and supply chain finance industries, with nearly 250 member organizations throughout the U.S., Canada and around the world. CFA provides education, networking opportunities and industry advocacy to the global commercial finance community.
About the CFA Education Foundation
The mission of the CFA Education Foundation is to cultivate education, innovation and charitable works for the betterment of the Commercial Finance community. As a separate entity from the Commercial Finance Association, the CFA Education Foundation is a 501(c)(3) organization that funds crucial initiatives benefiting secured lenders worldwide.
Michele Ocejo, Director of Communications
Commercial Finance Association Finance Association
mocejo(at)cfa.com, (212) 792-9396