US Business Borrowing for Equipment on the Rise

According to an article published in September by ELFA, U.S. companies' borrowing to spend on capital investment rose in August.  These companies signed up for $7.2 billion in new loans, leases, and lines of credit last month, up 13% from a year earlier. 

The Equipment Leasing & Finance Foundation said its confidence index rose to 60.2 in September from 58.9 in August.  A reading of above 50 indicates a positive outlook.

For the complete article, please visit
http://www.reuters.com/assets/print?aid=USnS8N0OQ0520140923

Be Honest...Is Your Bank Actively Leasing?

In the past few months, we have been discussing the Banclease program with prospects, existing clients and former clients.  One common theme we have stumbled across is that most banks aren't leasing because "they just don't know if they have the market for it."  As with all community banks, budgets are tight, additional staff is not feasible and current staff is already juggling a myraid of responsibilities within the bank.  So how do we answer this question?  Well, EDA (Equipment Data Associates) offers an enhanced UCC database.

This database contains:

• 4.5+ million borrowers/lessees
• 20+ million verified transactions
• 25+ unique search filters
• 500+ equipment types
• Recent financing activity
• Reverse lender search
• Lease expiration alerts
• Lead automation and more

Now is the time to test the old marketing theory and decide if the majority of your business truly comes from existing customers.  Check out EDA's website http://www.edadata.com/features and watch their product video http://www.youtube.com/playlist?list=PLN-pxYxOGfYsQ9Q4mk5lD4c0EpXbl7iE0 to see if this information can help answer that buring question "Do we have the market for leasing?"  I think you'll find you do!!