Borrowing by U.S. businesses for capital goods rose 2 percent in March from a year earlier, the Equipment Leasing and Finance Association (ELFA), a Washington-based trade body, said.
Companies signed up for $9.1 billion in new loans, leases and lines of credit last month, up from $8.9 billion a year earlier. Borrowing rose 18 percent from February.
Michael Romanowski, president of Farm Credit Leasing Services Corp, said customers continue to analyze the impact of tax reform, and in some cases, decided to delay investment or pay cash for capital expenditures.
“As the year progresses, we expect many customers to increase lease financing as it continues to be an attractive option for the assets that we lease,” Romanowski said.