Equipment leasing and finance industry confidence eases in June
The index provides an assessment of the business conditions and expectations for the industry. The report found overall confidence in the market is 63.0, down from the May index of 67.5.
“I believe any rise in interest rates will spur activity within the equipment finance industry," said MCI-EFI survey respondent Thomas Jaschik, president of BB&T Equipment Finance. "Companies continue to defer capital expenditures as long as possible. A rise in interest rates will hopefully provide a catalyst to accelerate capital expenditures as costs may rise in the future.”
David Schaefer, chief executive officer of Mintaka Financial LLC, said new market entrants have made competition "robust."
"Access to capital is abundant and new channels focused on end users are challenging us to adapt and change," he said. "Banks are actively looking to deploy capital. Secured and unsecured loan products are prevalent.”
Paul Menzel, president and chief executive officer of Financial Pacific Leasing, agreed.
“We are starting to see signs that both the consumer and businesses are starting to increase spending due to elevated confidence in the economy," he said.
Respondents for the index were a wide variety of industry executives.
Full survey results can be found online at www.leasefoundation.org/research/mci/.