Equipment Finance Industry confidence climbs higher in February
The Equipment Leasing & Finance Association (ELFA) today released its February 2026 Monthly Confidence Index for the Equipment Finance Industry (MCI), revealing confidence in the equipment finance market rose to 67.6, up from 64.6 in January, and the highest level since January 2025.
The index provides a qualitative assessment from key executives in the $1.3 trillion equipment finance industry.
February 2026 survey results:
- Business conditions – When assessing the next four months, 37.5 percent of responding executives believe business conditions will improve, up from 34.6 percent in January. Those who believe business conditions will remain the same increased to 58.3 percent from 57.7 percent the previous month. The percentage of executives who believe business conditions will worsen decreased to 4.2 percent from 7.7 percent in January.
- Capex demand – For the next four months, 45.8 percent of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase (up from 40 percent in January). Additionally, 54.2 percent expect demand to remain the same (down from 56 percent last month), and none believe demand will decline (down from 4 percent in January).
- Access to capital – Over the next four months, 33.3 percent of respondents expect greater access to capital to fund equipment acquisitions, an increase from 32 percent in January. The majority (66.7 percent) anticipate the same access to capital to fund business, a decrease from 68 percent the previous month. None expect less access to capital, unchanged from January.
- Employment – Regarding employment over the next four months, 45.8 percent of executives expect to hire more employees, an increase from 38.5 percent in January. Also, 50 percent foresee no change in headcount (down from 57.5 percent last month), and 4.2 percent expect to hire fewer employees, relatively unchanged from 3.9 percent in January.
- U.S. economy – Of the respondents, 4.2 percent evaluate the current U.S. economy as excellent, relatively unchanged from 3.9 percent in January; 95.8 percent assess it as fair, down slightly from 96.2 percent last month; and none evaluate it as poor, unchanged from January.
- Economic outlook – Over the next six months, 33.3 percent of respondents believe that U.S. economic conditions will get better, an increase from 30.8 percent in January. Another 58.3 percent expect the U.S. economy to stay the same, down from 61.5 percent; and 8.3 percent believe economic conditions will worsen, an increase from 7.7 percent last month.
- Business development spending – Over the next six months, 50 percent of respondents believe their company will increase spending on business development activities, up from 34.6 percent in January. Those who believe there will be no change in business development spending decreased to 45.8 percent (from 65.4 percent in January), and 4.2 percent believe there will be a decrease in spending (up from none last month).
February 2026 MCI-EFI survey comments from industry executive leadership:
Independent, Middle Ticket
“We’re seeing some interesting dynamics in the equipment finance sector. Tax policies increase capex spending, but favor cash or lending over leases. Business uncertainty is challenging, but equipment needs to be replaced. Inflation is eroding the benefits of lower interest rates. Lack of workforce is a challenge to reshoring and overall growth. I’m expecting a slow decline in the economy absent a large geopolitical event which could push us into severe recession.” -- Jeffry Elliott, CLFP, CEO, Elevex Capital
“Rapid advances in AI are driving the need for more powerful, up-to-date computer equipment. As companies adopt AI tools and modernize their operations, they require upgraded hardware but often prefer to preserve cash flow and maintain flexibility. Equipment leases provide a cost-effective way to access current technology and easily refresh equipment as demands evolve, positioning my business for strong near-term demand.” -- Peggy Tomcheck, president, Aspen Capital Company, Inc.
ELFA and the Foundation are unifying their research efforts. Starting in January 2026, all industry data and reports historically produced by the Foundation will move to a streamlined home on the ELFA website. To access more details and read the full survey results, visit the MCI web page.
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