ELFA report suggests credit conditions are slowly easing

02/23/2010 | Reuters

ELFA's monthly report on equipment financing shows good and bad news for the industry. The value of loans to fund equipment acquisitions fell to $3.4 billion in January, a 24.4% drop from the same month last year and a 52% decline from December. Other indications, such as an increase in credit approvals, suggest conditions are easing for borrowers. "It's early," said ELFA member Jud Snyder, president of M+I Equipment Finance, "but hopefully these are trends that point to the start of a new economic growth cycle."

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