US business equipment borrowing surges over thirty percent in January to hit two decade high
US companies increased equipment borrowing by thirty percent in January to reach a twenty year high. Strong AI investment continues to drive market growth.
Insights:
The Equipment Leasing and Finance Association (ELFA) reported on February 23, 2026, that US 
US companies signed $11.6 billion of new equipment loans, leases, and lines of credit in January. This seasonally adjusted total represents a 30.1% year-on-year increase and stands as the highest monthly dollar amount recorded in the last two decades. The data highlights a material expansion in activity within the U.S. equipment finance sector, which ELFA estimates is valued at more than $1 trillion.
US companies signed $11.6 billion of new equipment loans, leases, and lines of credit in January. This seasonally adjusted total represents a 30.1% year-on-year increase and stands as the highest monthly dollar amount recorded in the last two decades. The data highlights a material expansion in activity within the U.S. equipment finance sector, which ELFA estimates is valued at more than $1 trillion.
