According to a recent study by a Washington based equipment leasing and finance association, equipment leasing activity in on the rise in 2011 on a couple of fronts
Here’s the link to the full article… http://www.bizjournals.com/washington/news/2011/03/23/leasing-activity-on-the-rise.html
As with any information derived from an association that potentially benefits from positive reports, I will take the findings with a grain of salt.
The report basically tells us that 1) more businesses are applying for equipment financing and 2) more lenders are approving deals than at this time last year.
On both fronts, this could indicate that things are turning around in the general economy and that lenders are starting to get back to issuing loans and leases.
The last two years have been very difficult to say the least for small businesses and equipment financing companies.
For small business, many of the equipment leasing and financing sources disappeared from the landscape due to some combination of portfolio default and funding supply constraints.
For the financing companies, there was not a ton of applications to sift from, and from the ones they did receive, the underwriters were being very picky about who they wanted to take on.
But through the first quarter of 2011, things appear to be moving in the right direction, at least according to this report.
If you’d like to get assistance with equipment leasing and financing requirements in including purchase and debt financing, contact the business financing specialist.