US business equipment borrowings up 11% in May, ELFA says

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Companies signed up for new loans, leases and lines of credit worth $10.2 billion in May, down 7% from a month ago. The Washington-based company, which reports economic activity for the over $1-trillion equipment finance sector, said credit approvals for U.S. companies in May were 75%, unchanged from April.ELFA's non-profit affiliate, the Equipment Leasing & Finance Foundation, said its confidence index for June stood at 50.2, down from 50.7 in May. A reading above 50 indicates a positive business outlook.

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