March had a 21% lending increase from February and a 42% increase from March 2013. This is a steady trend of improvement for 2 years.
The strongest industries in March were:
– Auto Service
– Commercial Vehicle
– Medical Equipment
– Restaurant Equipment
These industries increased in lending by double digits!
Average growth from Q1 2013 to Q1 2014 for equipment leasing was 168%.
Numbers don’t lie and it appears that small businesses are gearing up for a strong spring and summer. By extending business with lending small business owners are confident there will be a high demand in the coming months.
There are over 27 million companies that are a part of the small business industry and through their lending actions they seem to be confident that the seasons ahead will bring a lot of business.
Are you ready for a strong season?