Growing Number of Businesses Financing Equipment
A new study gives an in-depth look into equipment leasing and purchasing trends. The study, released by the Equipment Leasing & Finance Foundation, found that 78% of businesses used at least one form of financing when acquiring equipment in 2015. This figure is up from 72% in 2012. Modern Materials Handling has some of the details:
- The 2015 estimate for the equipment finance market (including software) is $1.02 trillion.
- The market for equipment and software financing is expected to grow to $1.03 trillion in 2016, and is projected to reach $1.24 trillion in 2020.
- Sixty-eight percent of all equipment and software acquired in 2015 was financed. Of that, 39% was leased, 16% used a secured loan, and 13% used a line of credit.
To read an in-depth analysis of this new study, see the full article from Modern Materials Handling.