Equipment finance index takes dip in March

The Washington-based Equipment Leasing & Finance Association (ELFA) says its March 2026 Monthly Confidence Index for the Equipment Finance Industry (MCI) came in at 61.0, marking a decrease from the 67.6 index figure that resulted from surveys in February

ELFA says the survey and index have been designed to provide a qualitative assessment of confidence from industry executives in the $1.3 trillion equipment finance industry. Although it represents a decrease, the group calls the 61.0 figure this March “within range of index levels over the past nine months.”

The March survey showed that when assessing the next four months, 29 percent of responding executives predicted business conditions will improve, which is down from 37.5 percent this February.

The largest number of respondents in March (54 percent) predict business conditions will remain the same. The percentage of respondents concerned business conditions will get worse increased from about 4 percent in February to more than 16.5 percent this month.

Regarding the wider economy in the next six months, nearly 21 percent of those taking the survey say United States economic conditions will “get better,” which is down from more than 33 percent in February.

More than half of respondents (54 percent) expect the U.S. economy to “stay the same,” down from 58 percent last month. One quarter of those taking the survey believe economic conditions will get worse, rising from about 8 percent in February.

“I’m optimistic about potential Increased capex due to onshoring, but global economic uncertainty halting capex decision making is a concern,” says survey respondent Jeffry Elliott, CEO of Ohio-based Elevex Capital.

Two other respondents also express optimism, with Daryn Lecy of Minnesota-based Oakmont Capital Services commenting, “The continued strong performance of our portfolio paired with a normal to enhanced seasonal origination pace helps us maintain confidence in the short term.”

Remarks Charles Jones of Pennsylvania-based 1st Equipment Finance Inc., “Fear over tariffs has settled. The sky wasn't falling. If economic conditions continue to improve and foreign relations do not deteriorate further, we should see growth.”

ELFA describes itself as representing more than 600 financial services companies and manufacturers involved in the $1.3 trillion U.S. equipment finance sector.