Equipment finance originations jump 17% YoY
New business volume up 14.7% YoY through September
Equipment finance originations reached their third-highest level ever in September as industry tailwinds continue to offset economic headwinds.
New business volume in the industry totaled $11.8 billion in September, down 0.7% month over month but up 17% year over year, according to the Equipment Leasing and Finance Association‘s CapEx Finance Index released today. New business volume was up 14.7% YoY through the first nine months of 2026, partly driven by a record $14.3 billion in July.
While the interest rate environment remains shaky, the “tailwinds to demand are so strong, and financial conditions so stable, that it would take a significant downshift in economic conditions to slow demand over the last quarter of the year,” ELFA President and Chief Executive James Cress stated in the report.
In fact, economic and regulatory pressures are spurring financing opportunities for some lenders as “more customers turn to specialized providers who can deliver customized, flexible and dependable solutions,” Nicholas Sandler, co-president and co-head of diversified credit at Eldridge Capital Management, stated in the report.
“We expect this shift to continue over the next three to six months, favoring providers that stay competitive on price and disciplined on structure,” he said.
Meanwhile, the average credit approval rate in the industry rose 2.4 percentage points MoM in September to 77.7%. The average delinquency rate fell 20 basis points (bps) MoM to 1.6%, and the charge-off rate rose 4 bps MoM to 0.48%.
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