US business equipment borrowings fell 7% in March, ELFA says
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U.S. companies borrowed 7% less to finance equipment investments in March compared to a year ago, with new loans, leases, and lines of credit totaling $9.3 billion, up 18% sequentially. ELFA President and CEO Leigh Lytle expects equipment and software investment to pick up in the latter part of the year when the Fed begins its rate cuts. ELFA's credit approvals for U.S. companies in January came in at 77%, up from 76% the previous month. The Equipment Leasing & Finance Foundation reported a confidence index of 52.9 for April, indicating a positive business outlook.



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