Equipment Financing Projection: Billions Financed & Growing
With the newest MCI-EFI (Monthly Confidence Index for the Equipment Finance Industry) report being released for March 2021, it is apparent that equipment financing is continuing to grow, meaning even more customers are seeking financing opportunities.
Over these next few months, equipment financing numbers are expected to increase, as customers and businesses look to financing to obtain their machines and auxiliary equipment. Within the first quarter of 2021, the equipment financing industry has seen exponential growth, with the index increasing by 8% in three months, reaching its highest level since April 2018, and projected to increase even more.
The financing growth is contributed to customers continuing to want to finance, allowing them to get the equipment they need, expanding their business and profits, without using their capital, and depleting their lines of credit.
Also, these first few months of 2021 have given companies a clear understanding of where this year will lead them. With COVID-19 restrictions beginning to lift across most of the country, and high indicators of vaccines being available to most of the population in the next few months, companies are adding the equipment, that they may have previously held off on.
We know the importance of financing for customers and understand the equipment they are financing, as well as the machine tool and plastics industries. With companies utilizing equipment financing, EFG is here, and we can discuss financing any size deal for any equipment, and EFG can add auxiliary, shipping, rigging, and other additional cost associated with your equipment.
EFG and our insides sales team are always able to discuss your financing opportunities and provide the best financing options available.
Contact us today, to get started! 513.373.4991 or [email protected]
Equipment Financing Growing: 8 out of 10 Businesses will Take Advantage of Equipment Financing this Year