US business equipment borrowings up 4% in February, ELFA says

U.S. companies borrowed 4% more to finance equipment investments in February compared to a year ago, industry body Equipment Leasing and Finance Association (ELFA) said on Friday.

Companies signed up for new loans, leases and lines of credit worth $7.9 billion in February, down 15% from a month ago.

“Credit quality, while still elevated year over year, showed improvement with delinquencies slowly returning to normal levels and charge-offs moving in a positive direction,” ELFA CEO Leigh Lytle said.