Nov 24 (Reuters) - U.S. companies borrowed 5.7% more to finance equipment purchases in October than a year earlier, showing little impact from the recent government shutdown, the Equipment Leasing and Finance Association said on Monday.
New loans, leases and lines of credit signed up by companies in October was $10.5 billion on a seasonaly adjusted basis, same as in the previous month.
At the current pace, 2025 is on track to be the second-strongest year for equipment demand since ELFA's CapEx Finance Index (CFI) survey began in 2006, according to the report.
The Washington-based trade association, which tracks economic activity in the equipment sector valued at more than $1 trillion, said banks recorded the biggest increase in new business volumes in October, with an additional $4.8 billion.
"The path for interest rates remains uncertain, but that doesn’t change the fact that our industry is financially healthy, setting us up for a strong start to 2026," ELFA President and CEO Leigh Lytle said.
The ELFA CapEx Finance Index of leasing and finance activity is based on a 25-member survey, including Bank of America (BAC.N), as well as the financing units of Caterpillar (CAT.N), Dell Technologies (DELL.N), Siemens AG (SIEGn.DE), Canon (7751.T), and Volvo AB (VOLVb.ST).
The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, sees its November confidence index relatively unchanged at 59.9 from 60.1 in October. A reading above 50 indicates a positive business outlook.
Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Tasim Zahid
