Washington, DC (March 19, 2026) – The Equipment Leasing & Finance Association (ELFA) today released its March 2026 Monthly Confidence Index for the Equipment Finance Industry (MCI), revealing confidence in the equipment finance market is 61.0, a decrease from 67.6 in February, but within range of index levels over the past nine months. The index provides a qualitative assessment from key executives in the $1.3 trillion equipment finance industry.

March 2026 Survey Results:

Business Conditions – When assessing the next four months, 29.2% of responding executives believe business conditions will improve, down from 37.5% in February. Those who believe business conditions will remain the same decreased to 54.2% from 58.3% the previous month. The percentage of executives who believe business conditions will worsen increased to 16.7% from 4.2% in February.
Capex Demand – For the next four months, 37.5% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase (down from 45.8% in February). Additionally, 50% expect demand to remain the same (down from 54.2% last month), and 12.5% believe demand will decline (up from none in February).
Access to Capital – Over the next four months, 25% of respondents expect greater access to capital to fund equipment acquisitions, a decrease from 33.3% in February. The majority (70.8%) anticipate the “same” access to capital to fund business, an increase from 66.7% the previous month. Those expecting “less” access to capital increased to 4.2%, up from none in February.
Employment – Regarding employment over the next four months, 37.5% of executives expect to hire more employees, a decrease from 45.8% in February. Also, 58.3% foresee no change in headcount (up from 50% last month), and 4.2% expect to hire fewer employees, unchanged from February.
U.S. Economy – Of the respondents, none evaluate the current U.S. economy as “excellent,” down from 4.2% in February; 100% assess it as “fair,” up from 95.8% last month; and none evaluate it as “poor,” unchanged from February.
Economic Outlook – Over the next six months, 20.8% of respondents believe that U.S. economic conditions will “get better,” a decrease from 33.3% in February. Another 54.2% expect the U.S. economy to “stay the same,” down from 58.3% last month; and 25% believe economic conditions will worsen, an increase from 8.3% in February.
Business Development Spending – Over the next six months, 50% of respondents believe their company will increase spending on business development activities, unchanged from February. Those who believe there will be “no change” in business development spending increased to 50% (from 45.8% in February), and none believe there will be a decrease in spending (down from 4.2% last month).

March 2026 MCI-EFI Survey Comments from Industry Executive Leadership:

Bank, Small Ticket

“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, senior vice president, 1st Equipment Finance, Inc.

Independent, Small Ticket

“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, CLFP, COO, Oakmont Capital Services

Independent, Middle Ticket

“I’m optimistic about potential Increased capex due to onshoring, but global economic uncertainty halting capex decision making is a concern.”
— Jeffry Elliott, CLFP, CEO, Elevex Capital

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About ELFA
The Equipment Leasing & Finance Association (ELFA) represents financial services companies and manufacturers in the $1.3 trillion U.S. equipment finance sector. ELFA’s over 600 member companies provide essential financing that helps businesses acquire the equipment they need to operate and grow.