ELFA’s 2024 Survey of Equipment Finance Activity reported 1.1% growth in new business volume for 2023. This is a historical industry finding, not a current quotation or a forecast for a particular equipment buyer.
Keep publication year and activity year separate
The 2024 report describes activity in 2023. Label both dates when using the finding. Otherwise, an older industry result can accidentally become a claim about present lending conditions.
Look beyond the overall growth rate
The release reports different movements across market segments. An aggregate result can conceal changes in provider mix and transaction size. A buyer preparing a small equipment purchase should not assume that a large-ticket market movement predicts the response to its application.
Use history to ask better questions
A historical survey can inform questions about provider specialization and the market cycle. The purchase decision still needs current equipment prices, actual terms and the organization’s own cash-flow assumptions. Keep historical observations in the background section of a project memo, separate from the live proposal comparison.
Before your next equipment-financing conversation
Use the following points to prepare the project. These are practical planning questions, not eligibility criteria or an offer. The appropriate financing provider determines what it can consider after reviewing the applicant and equipment.
- Report year: 2024; activity year: 2023
- Survey measure: new business volume
- Current proposals required for decisions today
Sources & further reading
Published September 19, 2026. This is a project-preparation guide, not an eligibility decision, financing offer, or individualized legal, tax or accounting advice.
