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Equipment Leasing & Finance Foundation Announces 6th Annual “Day Of Giving” On June 6

24-Hour Fundraising Campaign Provides Individuals and Companies Opportunity to Invest in the Future of the Equipment Finance Industry

Washington, DC, June 5, 2023 – The Equipment Leasing & Finance Foundation is designating tomorrow, June 6, as a “Day of Giving” for everyone who has benefitted from the wide range of industry research, programs, and resources the Foundation provides. This is the sixth annual Day of Giving, which is intended to attract new donors and remind people of the lasting impact they and their companies make when they support the Foundation’s mission to propel the equipment finance industry forward. The Foundation hopes to attract new and returning donors and raise $85,000 during its 24-hour marathon fundraiser. All giving levels are welcome, and all donations are 100% tax-deductible.

As part of the Day of Giving campaign, the Foundation is highlighting popular and new resources it has released and programs it has conducted over the last year, made possible entirely through individual and corporate donations. Among the wide range are:

Industry studies, including the Equipment Leasing & Finance Industry Horizon Report, “Specialized Apps, Software, and Information Services for the Equipment Leasing & Finance Industry,” and “Vertical Market Outlook Series: Franchise.”
Podcast episodes on risk management and a newly launched vertical market podcast series.
Academic Programs designed to attract new and diverse talent that is the future of our industry. Among them are the Equipment Leasing & Finance Foundation Scholarship Program, which awards five scholarships of $5,000 each annually to students interested in pursuing a career in the equipment finance industry. The Guest Lecture Program provides an opportunity for industry participants to share their stories and introduce students to the equipment finance industry.
Topical and economic research studies, including the quarterly-updated 2023 Equipment Leasing & Finance U.S. Economic Outlook. All are available for free download at the online Research Library.
The Journal of Lease Financing (JELF), which welcomes original submissions on industry topics.

“The Day of Giving is an incredible opportunity to showcase and demonstrate support for the Foundation’s mission, which benefits everyone in the equipment finance industry,” said Shari Lipski, Principal, ECS Financial Services, Inc., Foundation Trustee, and National Development Committee Chair. “Your 100% tax-deductible donation plays a critical role in providing a diverse range of resources about our industry that are not accessible elsewhere.”

Donations can be made online at https://www.leasefoundation.org/giving/online/, or by check to the Equipment Leasing & Finance Foundation, 1625 Eye St NW, Suite 850, Washington, DC 20006.

JOIN THE CONVERSATION
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ABOUT THE FOUNDATION
The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization that propels the equipment finance sector—and its people—forward through industry-specific knowledge, intelligence, and programs that contribute to industry innovation, individual careers, and the overall betterment of the equipment leasing and finance industry. The Foundation is funded through charitable individual and corporate donations. Learn more at www.leasefoundation.org.

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Media contact: Charlie Visconage, cvisconage@leasefoundation.org

New Foundation Report Examines the Franchise Sector and the Opportunities for Equipment Finance Companies

Washington, DC, May 22, 2023 – Despite economic uncertainties around inflation, labor issues, and a looming recession, more than 80 percent of franchisors anticipate an increase in franchise sales in 2023, according to a new study released by the Equipment Leasing & Finance Foundation (Foundation). The report, “Vertical Market Outlook Series: Franchise,” provides an outlook on the franchise sector in the U.S., including key trends and developments impacting this sector over the next one to two years. It is the eighth release of the Foundation’s forward-looking Vertical Market Outlook Series designed to help readers recognize and understand opportunities and challenges that may affect their businesses.

The report was commissioned by the Foundation and prepared by global advertising, technology, and data company Big Village, which also produced the previous studies in the Vertical Market Outlook Series. The new study presents data and research from a variety of sources, and examines a range of issues, including:

Franchise market landscape: composition, costs, advantages, and disadvantages
Macroeconomic environment: labor, economic factors, supply chain issues, implementing price increases, shifting demographics
Trends, growth segments, and opportunities: financing options, franchise equipment/supply, technology
Case studies: hospitality technology and QSR automation

“The study does an excellent job of surveying the franchise landscape, the wide variety of franchises that exist and could benefit from equipment finance, and the economic and demographic trends affecting them,” said Tom Ware, Foundation Research Committee Chair. “This study provides timely data and analyses to inform thinking and high-level insight for equipment finance professionals to reference in their strategic planning.”

Download the full report at https://www.leasefoundation.org/industry-resources/vertical-outlook/.

All Foundation studies are available for free download from the Foundation’s online library at http://store.leasefoundation.org/.

Media contact: Charlie Visconage, cvisconage@leasefoundation.org

Equipment Finance Industry Confidence Decreases Again in May

Washington, DC, May 18, 2023 – The Equipment Leasing & Finance Foundation (the Foundation) releases the May 2023 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 40.6, a decrease from the April index of 47.0.

When asked about the outlook for the future, MCI-EFI survey respondent James D. Jenks, CEO, Global Finance and Leasing Services, LLC, said, “Until we get back to energy independence, I don’t see an uptick in the economy in the foreseeable future.”

May 2023 Survey Results:
The overall MCI-EFI is 40.6, a decrease from the April index of 47.0.

When asked to assess their business conditions over the next four months, none of the executives responding said they believe business conditions will improve over the next four months, a decrease from 11.1% in April. 51.9% believe business conditions will remain the same over the next four months, down from 70.4% the previous month. 48.2% believe business conditions will worsen, an increase from 18.5 % in April.
3.6% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, unchanged from April. 53.6% believe demand will “remain the same” during the same four-month time period, a decrease from 70.4% the previous month. 42.9% believe demand will decline, up from 25.9% in April.
10.7% of the respondents expect more access to capital to fund equipment acquisitions over the next four months, up from 7.4% in April. 75% of executives indicate they expect the “same” access to capital to fund business, a decrease from 77.8% last month. 14.3% expect “less” access to capital, down from 14.8% the previous month.
When asked, 17.9% of the executives report they expect to hire more employees over the next four months, a decrease from 33.3% in April. 67.9% expect no change in headcount over the next four months, an increase from 51.9% last month. 14.3% expect to hire fewer employees, down from 14.8% in April.
None of the leadership evaluate the current U.S. economy as “excellent,” unchanged from the previous month. 85.7% of the leadership evaluate the current U.S. economy as “fair,” down from 88.9% from April. 14.3% evaluate it as “poor,” an increase from 11.1% last month.
3.6% of the survey respondents believe that U.S. economic conditions will get “better” over the next six months, a decrease from 7.4% in April. 32.1% indicate they believe the U.S. economy will “stay the same” over the next six months, a decrease from 48.2% last month. 64.3% believe economic conditions in the U.S. will worsen over the next six months, an increase from 44.4% the previous month.
In May 35.7% of respondents indicate they believe their company will increase spending on business development activities during the next six months, down from 37% the previous month. 53.6% believe there will be “no change” in business development spending, up from 44.4% in April. 10.7% believe there will be a decrease in spending, down from 18.5% last month.

ABOUT THE MCI

Why an MCI-EFI?
Confidence in the U.S. economy and the capital markets is a critical driver to the equipment finance industry. Throughout history, when confidence increases, consumers and businesses are more apt to acquire more consumer goods, equipment, and durables, and invest at prevailing prices. When confidence decreases, spending and risk-taking tend to fall. Investors are said to be confident when the news about the future is good and stock prices are rising.

Who participates in the MCI-EFI?
The respondents are comprised of a wide cross-section of industry executives, including large-ticket, middle-market and small-ticket banks, independents, and captive equipment finance companies. The MCI-EFI uses the same pool of 50 organization leaders to respond monthly to ensure the survey’s integrity. Since the same organizations provide the data from month to month, the results constitute a consistent barometer of the industry’s confidence.

How is the MCI-EFI designed?
The survey consists of seven questions and an area for comments, asking the respondents’ opinions about the following:

Current business conditions
Expected product demand over the next four months
Access to capital over the next four months
Future employment conditions
Evaluation of the current U.S. economy
S. economic conditions over the next six months
Business development spending expectations
Open-ended question for comment

How may I access the MCI-EFI?
Survey results are posted on the Foundation website, https://www.leasefoundation.org/industry-resources/monthly-confidence-index/, included in the Foundation Forecast eNewsletter, and included in press releases. Survey respondent demographics and additional information about the MCI are also available at the link above.

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Media Contact: Charlie Visconage, cvisconage@leasefoundation.org

Q2 2023 Equipment Leasing & Finance Industry Snapshot Now Available

The Equipment Leasing & Finance Foundation has released the Q2 2023 Equipment Leasing & Finance Industry Snapshot, an indispensable information resource for industry participants. Designed for use in executive briefings and presentations, the presentation slide deck summarizes the current conditions and projections for the U.S. economy and equipment finance industry with clear, easy-to-digest charts and short narratives of key trends.

Among the range of details in the Q2 Snapshot:

Overall, the Foundation projects the U.S. economy will enter a recession this year and grow by just 0.7% in 2023.
- The economy expanded in Q4 2022 following two quarters of contraction in the first half of the year.
- The Q4 expansion was driven by a large increase in other business investment, as well as consumer and government spending.

Economic tailwinds for growth in 2023 include:
- A strong labor market, which added over 1 million jobs in Q1 and boosted consumers’ financial situation despite high inflation.
- Low energy prices after a temperate winter and a realignment of supply lines.

Economic headwinds include:
- Sticky inflation, which remains a substantial problem for the U.S. economy. Annual CPI inflation currently stands at 5% after peaking at 8.9% in June 2022, but is still above the Fed’s target of 2%.
- Geopolitical uncertainty due to threats including Putin’s war effort against Ukraine increasing, China and Russia’s apparent alliance, and concern that China could invade Taiwan in the near future.

Factors to Watch
- Consumer financial stress appears to be under control, but signs are mounting that it may rise in the coming months.
- The housing sector appears to be showing some signs of life, but remains far from recovered and may have further to fall.
- The federal debt ceiling and the potential for market turmoil if the government defaults.

Equipment and software investment is expected to grow at a 1.0% pace in 2023.
- Equipment and software investment growth is forecasted to steadily ease throughout the year as businesses pull back on investment due to higher interest rates and a slowing economy.
New business volume growth reported in ELFA’s Monthly Leasing and Finance Index was up 11% year over year in February. Though the strong gains are partly due to high inflation, new business volume growth has held up well over the last year, even as interest rates have risen.

Prepared by Keybridge Research and updated quarterly, the snapshot is available for free download at https://www.leasefoundation.org/industry-resources/industry-snapshot/

Media contact: Charlie Visconage, cvisconage@leasefoundation.org

Equipment Finance Industry Confidence Lower in April

Washington, DC, April 20, 2023 – The Equipment Leasing & Finance Foundation (the Foundation) releases the April 2023 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 47.0, a decrease from the March index of 50.3.

When asked about the outlook for the future, MCI-EFI survey respondent Jonathan Albin, Chief Operating Officer, Nexseer Capital, said, “I believe current market conditions present opportunities for our industry. Businesses have to react to the risk of tightening credit markets. As a result, they will be more open to exploring alternatives and supplements to their senior lending facilities to finance capex and source liquidity, and that will lead to opportunities for lessors.”

April 2023 Survey Results:
The overall MCI-EFI is 47.0, a decrease from the March index of 50.3.

When asked to assess their business conditions over the next four months, 11.1% of the executives responding said they believe business conditions will improve over the next four months, a slight increase from 10.7% in March. 70.4% believe business conditions will remain the same over the next four months, up from 57.1% the previous month. 18.5% believe business conditions will worsen, a decrease from 32.1 % in March.
3.7% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, a decrease from 10.7% in March. 70.4% believe demand will “remain the same” during the same four-month time period, an increase from 67.9% the previous month. 25.9% believe demand will decline, up from 21.4% in March.
7.4% of the respondents expect more access to capital to fund equipment acquisitions over the next four months, down from 17.9% in March. 77.8% of executives indicate they expect the “same” access to capital to fund business, an increase from 71.4% last month. 14.8% expect “less” access to capital, up from 10.7% the previous month.
When asked, 33.3% of the executives report they expect to hire more employees over the next four months, a decrease from 35.7% in March. 51.9% expect no change in headcount over the next four months, a decrease from 57.1% last month. 14.8% expect to hire fewer employees, up from 7.1% in March.
None of the leadership evaluate the current U.S. economy as “excellent,” down from 3.7% the previous month. 88.9% of the leadership evaluate the current U.S. economy as “fair,” unchanged from March. 11.1% evaluate it as “poor,” an increase from 7.4% last month.
7.4% of the survey respondents believe that U.S. economic conditions will get “better” over the next six months, an increase from 3.6% in March. 48.2% indicate they believe the U.S. economy will “stay the same” over the next six months, a decrease from 53.6% last month. 44.4% believe economic conditions in the U.S. will worsen over the next six months, an increase from 42.9% the previous month.
In April 37.0% of respondents indicate they believe their company will increase spending on business development activities during the next six months, down from 39.3% the previous month. 44.4% believe there will be “no change” in business development spending, down from 53.6% in March. 18.5% believe there will be a decrease in spending, up from 7.1% last month.

April 2023 MCI-EFI Survey Comments from Industry Executive Leadership:

Bank, Small Ticket
“I think the general economy will have a downturn this year which is why we are focused on credit quality and portfolio performance. In this market change, opportunity exists and I am optimistic that Wintrust Specialty Finance is well positioned to step up to those opportunities.” David Normandin, President and Chief Executive Officer, Wintrust Specialty Finance

Bank, Middle Ticket
“KeyBank clients continue to have the confidence in Key to meet their needs from a cash management and lending perspective. While the economy has slowed, demand remains for financing important infrastructure and clean energy initiatives. We remain encouraged that as we move along 2023, Key Equipment Finance will continue to support capital equipment acquisitions, technology efficiency investments and, ultimately, a rebound in most of our sectors.” Adam Warner, President, Key Equipment Finance

ABOUT THE MCI

How is the MCI-EFI designed?
The survey consists of seven questions and an area for comments, asking the respondents’ opinions about the following:

Current business conditions
Expected product demand over the next four months
Access to capital over the next four months
Future employment conditions
Evaluation of the current U.S. economy
U.S. economic conditions over the next six months
Business development spending expectations
Open-ended question for comment

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Media Contact: Charlie Visconage, cvisconage@leasefoundation.org

Q2 Update to the 2023 Economic Outlook Forecasts 1.0% Expansion in Equipment and Software Investment and 0.7% GDP Growth as Recession Looms

Washington, DC, April 19, 2023 – Equipment and software investment growth cooled in the early months of 2023, resulting in the Equipment Leasing & Finance Foundation lowering its annual forecast for investment growth to 1.0%, according to the Q2 update to the 2023 Equipment Leasing & Finance U.S. Economic Outlook. The report released today also predicts sluggish economic growth in Q1 as the economy edges closer toward recession, which the Foundation continues to expect will begin during the second half of the year. Overall, annualized economic growth is forecast to be 0.7% in 2023, largely driven by a solid jump-off point at the end of last year.

The Foundation’s report is focused on the $1.16 trillion equipment leasing and finance industry and highlights key trends in equipment investment, placing them in the context of the broader U.S. economic climate.

Nancy Pistorio, Foundation Chair and President of Madison Capital LLC, said, “Despite the U.S. economy ending 2022 with healthy growth and maintaining some momentum into early 2023, equipment and software investment softened to 2% annualized growth in Q4 and remains under pressure. The economy is still above water, but most indicators point to slowing growth, and many economists continue to expect a recession to begin later this year. Should that come to pass, I also expect the equipment finance industry will demonstrate its characteristic resilience, innovation, and resolve, and will continue to serve the financial needs of our customers regardless of the economic climate.”

Highlights from the Q2 update to the 2023 Outlook include:

Equipment and software investment growth was sluggish in Q1 as the combined effects of a slowing industrial sector and higher interest rates weighed on equipment demand. While certain end-user markets may fare better in the months ahead, a broad economic downturn will drag on investment across the board, resulting in an annualized growth forecast for equipment and software investment of just 1.0%.
The U.S. economy is expected to continue to soften despite a healthy labor market, lower energy prices, and supply chain improvements. Stubborn inflation combined with rising consumer financial stress and a looming debt ceiling showdown will add to financial sector woes. Although a “soft landing” scenario is still achievable, a mild recession is likely, beginning during the second half of 2023.
The manufacturing sector has worked through much of its pandemic-era supply chain backlogs, but measures of supply chain health indicate the industrial sector is in the midst of a protracted slowdown. On the plus side, the sector’s jumping-off point was strong, so while demand is likely to continue to soften this year, the downturn may not be as severe as in past cycles.
Main Street businesses suffered the worst effects of pandemic-era labor shortages, and labor-saving investments in equipment and technology continue to be a lifeline. However, loan availability is expected to tighten following recent bank failures, making financing investments more difficult and adding to small business financial stress.
The Federal Reserve continues to battle inflation, even raising interest rates immediately following the second and third largest bank failures in U.S. history. Interest rates are expected to rise higher than most market-implied forecasts expect this year as the Fed targets an inflation rate of 2%.

The Foundation-Keybridge U.S. Equipment & Software Investment Momentum Monitor, which is released in conjunction with the Economic Outlook, tracks 12 equipment and software investment verticals. In addition, the Momentum Monitor Sector Matrix provides a customized data visualization of current values of each of the 12 verticals based on recent momentum and historical strength. This month two are expanding, two are recovering, and eight verticals are weakening. Over the next three to six months, year over year:

Agriculture machinery investment growth is likely to weaken further.
Construction machinery investment growth may have peaked and could start to slow.
Materials handling equipment investment growth may pick up slightly.
All other industrial equipment investment growth may have bottomed out and could start to pick up.
Medical equipment investment growth is unlikely to pick up.
Mining and oilfield machinery investment growth may have peaked and could decelerate.
Aircraft investment growth may have peaked and could decelerate.
Ships and boats investment growth could decelerate sharply.
Railroad equipment investment growth may start to cool but will likely remain in positive territory.
Trucks investment growth is likely to sidewind.
Computers investment growth will likely remain weak.
Software investment growth may reach a peak.

The Foundation produces the Equipment Leasing & Finance U.S. Economic Outlook report in partnership with economic and public policy consulting firm Keybridge Research. The annual economic forecast provides the U.S. macroeconomic outlook, credit market conditions, and key economic indicators. The Q2 report is the first update to the 2023 Economic Outlook, and will be followed by two more quarterly updates before the publication of the 2024 Economic Outlook in December.

Download the full report at https://www.leasefoundation.org/industry-resources/u-s-economic-outlook/.

Download the Momentum Monitor at https://www.leasefoundation.org/industry-resources/momentum-monitor/.

All Foundation studies are available for free download from the Foundation’s online library at http://store.leasefoundation.org/.

ABOUT THE FOUNDATION
The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization that propels the equipment finance sector—and its people—forward through industry-specific knowledge, intelligence, and programs that contribute to industry innovation, individual careers, and the overall betterment of the equipment leasing and finance industry. The Foundation is funded through individual and corporate donations. Learn more at www.leasefoundation.org.

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Media Contact: Charlie Visconage, cvisconage@leasefoundation.org

Equipment Finance Industry Confidence Eases in March

Washington, DC, March 16, 2023 – The Equipment Leasing & Finance Foundation (the Foundation) releases the March 2023 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 50.3, a decrease from the February index of 51.8.

When asked about the outlook for the future, MCI-EFI survey respondent Nancy Pistorio, Foundation Chair and President, Madison Capital LLC said, “As the pandemic becomes farther in the rear view mirror, industries affected such as livery, fitness, entertainment, and hospitality are now showing strong demand for equipment.”

March 2023 Survey Results:
The overall MCI-EFI is 50.3, a decrease from the February index of 51.8.

When asked to assess their business conditions over the next four months, 10.7% of the executives responding said they believe business conditions will improve over the next four months, a decrease from 16.1% in February. 57.1% believe business conditions will remain the same over the next four months, down from 61.3% the previous month. 32.1% believe business conditions will worsen, an increase from 22.6 % in February.
10.7% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, an increase from 9.7% in February. 67.9% believe demand will “remain the same” during the same four-month time period, a decrease from 71% the previous month. 21.4% believe demand will decline, up from 19.4% in February.
17.9% of the respondents expect more access to capital to fund equipment acquisitions over the next four months, up from 12.9% in February. 71.4% of executives indicate they expect the “same” access to capital to fund business, a decrease from 74.2% last month. 10.7% expect “less” access to capital, down from 12.9% the previous month.
When asked, 35.7% of the executives report they expect to hire more employees over the next four months, a decrease from 38.7% in February. 57.1% expect no change in headcount over the next four months, an increase from 54.8% last month. 7.1% expect to hire fewer employees, up from 6.5% in February.
3.7% of the leadership evaluate the current U.S. economy as “excellent,” up from none the previous month. 88.9% of the leadership evaluate the current U.S. economy as “fair,” up from 87.1% in February. 7.4% evaluate it as “poor,” a decrease from 12.9% last month.
3.6% of the survey respondents believe that U.S. economic conditions will get “better” over the next six months, a slight increase from 3.2% in February. 53.6% indicate they believe the U.S. economy will “stay the same” over the next six months, a decrease from 54.8% last month. 42.9% believe economic conditions in the U.S. will worsen over the next six months, an increase from 41.9% the previous month.
In March 39.3% of respondents indicate they believe their company will increase spending on business development activities during the next six months, down from 51.6% the previous month. 53.6% believe there will be “no change” in business development spending, up from 41.9% in February. 7.1% believe there will be a decrease in spending, up from 6.5% last month.

March 2023 MCI-EFI Survey Comment from Industry Executive Leadership:

Bank, Small Ticket
“Wintrust is well positioned to grow during this time of uncertainty given our strong balance sheet and commitment to the equipment finance space and our customers.” David Normandin, President and Chief Executive Officer, Wintrust Specialty Finance

ABOUT THE MCI

How is the MCI-EFI designed?
The survey consists of seven questions and an area for comments, asking the respondents’ opinions about the following:

Current business conditions
Expected product demand over the next four months
Access to capital over the next four months
Future employment conditions
Evaluation of the current U.S. economy
S. economic conditions over the next six months
Business development spending expectations
Open-ended question for comment

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Media Contact: Charlie Visconage, cvisconage@leasefoundation.org

Equipment Finance Industry Confidence Improves Again in February

Washington, DC, February 16, 2023 – The Equipment Leasing & Finance Foundation (the Foundation) releases the February 2023 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 51.8, an increase from the January index of 48.5.

When asked about the outlook for the future, MCI-EFI survey respondent Jim DeFrank, EVP and Chief Operating Officer, Isuzu Finance of America, Inc., said, “We still see pent-up demand in the light and medium-duty segment of transportation. However, we feel it will wane by the third or fourth quarter of this year.”

February 2023 Survey Results:
The overall MCI-EFI is 51.8, an increase from the January index of 48.5.

When asked to assess their business conditions over the next four months, 16.1% of the executives responding said they believe business conditions will improve over the next four months, an increase from none in January. 61.3% believe business conditions will remain the same over the next four months, down from 69.2% the previous month. 22.6% believe business conditions will worsen, a decrease from 30.8 % in January.
9.7% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, an increase from none in January. 71% believe demand will “remain the same” during the same four-month time period, a decrease from 88.5% the previous month. 19.4% believe demand will decline, up from 11.5% in January.
12.9% of the respondents expect more access to capital to fund equipment acquisitions over the next four months, up from 11.5% in January. 74.2% of executives indicate they expect the “same” access to capital to fund business, an increase from 73.1% last month. 12.9% expect “less” access to capital, down from 15.4% the previous month.
When asked, 38.7% of the executives report they expect to hire more employees over the next four months, unchanged from January. 54.8% expect no change in headcount over the next four months, a decrease from 61.5% last month. 6.5% expect to hire fewer employees, up from none in January.
None of the leadership evaluate the current U.S. economy as “excellent,” unchanged from the previous month. 87.1% of the leadership evaluate the current U.S. economy as “fair,” up from 84.6% in January. 12.9% evaluate it as “poor,” a decrease from 15.4% last month.
3.2% of the survey respondents believe that U.S. economic conditions will get “better” over the next six months, a decrease from 7.7% in January. 54.8% indicate they believe the U.S. economy will “stay the same” over the next six months, a decrease from 57.7% last month. 41.9% believe economic conditions in the U.S. will worsen over the next six months, an increase from 34.6% the previous month.
In February 51.6% of respondents indicate they believe their company will increase spending on business development activities during the next six months, up from 23.1% the previous month. 41.9% believe there will be “no change” in business development spending, down from 73.1% in January. 6.5% believe there will be a decrease in spending, up from 3.9% last month.

February 2023 MCI-EFI Survey Comment from Industry Executive Leadership:

Independent, Small Ticket
“Recession is likely staying on the sidelines as long as there is a shortage of employees to fill open job positions.” James D. Jenks, CEO, Global Finance and Leasing Services, LLC

ABOUT THE MCI

How is the MCI-EFI designed?
The survey consists of seven questions and an area for comments, asking the respondents’ opinions about the following:

Current business conditions
Expected product demand over the next four months
Access to capital over the next four months
Future employment conditions
Evaluation of the current U.S. economy
S. economic conditions over the next six months
Business development spending expectations
Open-ended question for comment

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Media Contact: Kelli Nienaber, knienaber@leasefoundation.org

New Foundation Study Evaluates Specialized Apps, Software, and Information Services for Equipment Finance Companies

Washington, DC, February 7, 2023 – Today the Equipment Leasing & Finance Foundation (Foundation) releases a new study, “Specialized Apps, Software, and Information Services for the Equipment Leasing & Finance Industry,” to help equipment finance companies navigate the growing number of options for automating and improving their business processes. It presents a list of specialized services currently available to equipment finance companies looking to take a step forward on their path toward digital automation and optimization.

The study was commissioned by the Foundation and prepared by the information technology company Northteq, Inc. Key themes identified in the study revolve around

fraud and identification
credit automation
documentation
personalization for digital experiences.

The study also entails implementation strategies for the technologies covered, with application programming interfaces (APIs) the primary method connecting to broader cloud-based platforms.

“Piecing together the right combination of applications and services into a cohesive unit can lead to a result that is both powerful and rewarding,” said Tom Ware, Foundation Research Committee Chair. “There is a growing variety of useful technologies that were never specifically meant for our industry, but that can be very useful, and to some extent this catalogue of building blocks is a ‘how-to guide’ for creating FinTech automation in a leasing company.”

Download the full report at https://bit.ly/ELFFAppsSoftwareStudy.

All Foundation studies are available for free download from the Foundation’s online library at http://store.leasefoundation.org/.

Media contact: Charlie Visconage, cvisconage@leasefoundation.org

Equipment Leasing & Finance Foundation Accepting Applications for Five $5,000 Scholarships to Promote Careers in the Equipment Finance Industry

Washington, DC, February 1, 2023—The Equipment Leasing & Finance Foundation is accepting applications for its scholarship program for the 2023-2024 academic year. Up to five scholarships of $5,000 each will be awarded to full-time undergraduate or full-time graduate students interested in pursuing a career in the equipment finance industry who are majoring in business, economics, finance, or a related discipline.

To be eligible for consideration for a scholarship in 2023, candidates must submit their applications online by May 19, 2023, and must:

- Be a full-time undergraduate student, or full-time graduate student, as defined by the accredited educational institution they are attending;
- Have completed the equivalent of at least two years of full-time college course work, earned 50 percent of the credit hours required for graduation, or have completed an associate’s degree from an accredited educational institution;
- Have declared his/her/their major course work to be in the field of business, economics, finance, or a related discipline;
- Have a minimum cumulative grade point average of 3.0.
- Students with recommendations from professionals in the equipment finance industry will be given preference.
To learn more or to apply for a scholarship, visit https://www.leasefoundation.org/academic-programs/home/scholarship-program/.

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ABOUT THE FOUNDATION
The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization that propels the equipment finance sector—and its people—forward through industry-specific knowledge, intelligence, and programs that contribute to industry innovation, individual careers, and the overall betterment of the equipment leasing and finance industry. The Foundation is funded through charitable individual and corporate donations. Learn more at www.leasefoundation.org.

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Media Contact: Charlie Visconage, cvisconage@leasefoundation.org