Facts About Equipment Finance
- Equipment leasing and financing help all types and sizes of commercial businesses in the United States to acquire the equipment they need to conduct their business operations.
- Nearly 8 in 10 businesses use at least one form of financing (excluding credit cards) to acquire equipment.1
- 68 cents of every dollar spent on equipment is financed, totaling $1.034 trillion in 2016.1
Who Finances Equipment?
The top 10 industries that finance equipment:2
- Industrial & Manufacturing
- Wholesale / Retail
- Finance, Insurance, Real Estate
- Mining / Oil & Gas Extraction, Pipelines
- Federal, State & Local Government
The top 10 equipment types that are financed:2
- IT and Related Technology Services
- Medical Equipment
- Office Machines
- Industrial / Manufacturing
- Materials Handling
- Furniture, Fixtures & Equipment
Equipment Finance is Growing
- Growth in investment in equipment and software is expected to accelerate slightly in 2017, growing at a 3.0 percent rate. By 2020, total investment in equipment and software is expected to reach $1.8 trillion.1
- The 2015 estimate for the equipment finance market (including software) was $1.02 trillion. The market for equipment and software financing was expected to grow to $1.03 trillion in 2016, reaching a projected $1.24 trillion in 2020.1
Equipment Finance Supports the U.S. Economy
- Equipment finance not only contributes to businesses' success, but to U.S. economic growth, manufacturing and jobs.
Questions? Contact Amy Vogt, Vice President of Communications and Marketing, firstname.lastname@example.org