NEW YORK (PRWEB) November 05, 2018
U.S. businesses continue to grow, as indicated by new credit commitments reaching an all-time high, the Commercial Finance Association (CFA) announced today. According to the CFA’s latest Quarterly Asset-Based Lending (ABL) Index, large and medium lenders experienced new commitments of $11.1B, representing a 106% increase quarter over quarter and a 73% increase over the same quarter last year. Growth in new commitments for entrepreneurial lenders, declined quarter over quarter and over the same period last year reflecting the continued sentiment of increased competition in the marketplace and robust credit markets. Portfolio size remained relatively stable with both sectors showing slight gains quarter over quarter.
“CFA’s latest Quarterly Survey results demonstrate that the overall credit quality across both sectors remain intact and stable,” said David Grende, CFA President and President & CEO of Siena Lending Group.
“CFA’s Quarterly Asset-Based Lending Index provides our stakeholders with vital data they need to understand key marketplace trends. It also reflects the important role secured lending plays in the economy,” said Richard D. Gumbrecht, CFA CEO.
The Quarterly Asset-Based Lending Index is conducted for the CFA by Westat, an independent market research firm. CFA has tracked secured lending activity and published the Quarterly Asset-Based Lending Index since March 2008 to provide insight on national commercial lending trends.
A full copy of CFA’s Quarterly Asset-Based Lending Index is available here.
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 over 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.