equipment finance confidence dipped in March 2026, according to the Equipment Leasing and Finance Association (ELFA). The Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) fell to 61.0 in March from 67.6 in February, marking a 9.8% month-over-month decline.
Despite the drop, confidence remains within the range observed over the past nine months and is still up 5% year-over-year.
📉 Key Survey Findings
The March survey of industry executives revealed weakening sentiment across several forward-looking indicators:
| Indicator (Next 4 Months) | March 2026 | Change from February 2026 |
|---|---|---|
| Business Conditions expecting improvement | 29.2% | ↓ from 37.5% |
| Business Conditions expecting worsening | 16.7% | ↑ from 4.2% |
| Demand for Leases/Loans (Capex) expecting increase | 37.5% | ↓ from 45.8% |
| Demand for Leases/Loans (Capex) expecting decline | 12.5% | ↑ from 0% |
| U.S. Economy expecting improvement (next 6 months) | 20.8% | ↓ from 33.3% |
| U.S. Economy expecting worsening (next 6 months) | 25.0% | ↑ from 8.3% |
💬 Industry Voices
Comments from industry executives in the survey reflect a mix of cautious optimism tempered by concerns over external economic factors:
- Cautious Optimism: “The continued strong performance of our portfolio paired with a normal to enhanced seasonal origination pace helps us maintain confidence in the short term.” — Daryn Lecy, COO, Oakmont Capital Services
- Tariff Fears Easing: “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.” — Charles Jones, 1st Equipment Finance, Inc.
- Global Uncertainty: “I’m optimistic about potential increased capex due to onshoring, but global economic uncertainty halting capex decision making is a concern.” — Jeffry Elliott, CEO, Elevex Capital
The confidence dip in March contrasts with record new business volumes reported in January 2026, which reached $11.6 billion—the highest monthly total in the survey’s history. This suggests that while underlying activity has been strong, executives are becoming more cautious about the near-term outlook.
I hope this overview is helpful. Are you interested in the data for a specific segment of the equipment finance market, such as small-ticket or middle-ticket lending?
