U.S. business borrowing for equipment rises 2% in January – ELFA

By Reuters

Companies signed up for $8.3 billion in new loans, leases and lines of credit last month, compared with $8.1 billion a year earlier. “Despite persistent supply chain disruptions in several collateral categories and nagging inflation, the equipment finance industry picks up in January where it left off last year,” said Ralph Petta, ELFA's chief executive officer, in a statement. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 78.4%, marginally down from 78.6% in December.

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