US business loans soar 19% in April: ELFA survey

26.05.2021 - Davydova Maria
US business loans soar 19% in April: ELFA survey

For the month of April, U.S. businesses had a total loan amount of $9.8 billion for capital investment. According to the Equipment Leasing and Finance Association (ELFA). This figure is 19% higher than a year earlier, driven by the economic recovery triggered by mass COVID-19 inoculations and lifting lockdowns.

Compared with March, borrowing in April hiked 5% as businesses from various sectors queued for loan programs, leases, and lines of credit.

Washington-based ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals summed 76.3% in April compared with 77% in March.

ELFA’s leasing and finance index measures the volume of commercial equipment financed in the United States.

ELFA’s non-profit affiliate, the Equipment Leasing and Finance Foundation posted a  72.1 monthly confidence index in May, versus the 76.1 reading in April. An above 50 reading indicates a positive business outlook.

 

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?