CFA's ABL Index, based on information provided by 27 of the nation's top asset-based lenders, showed that total committed credit lines grew 1.6% over the previous quarter and 6.0% over the same period one year ago. Total committed credit lines amounted to nearly
A chart showing Credit Utilization Growth Over The Past Six Quarters is available at http://media.globenewswire.com/cache/32773/file/28383.pdf.
While credit line utilization has consistently increased over the past four years, companies continue to utilize credit at levels significantly below levels in the years before the financial crisis when utilization of credit lines by U.S. businesses was generally higher than 50%.
New credit commitments increased by 9.6% over the previous quarter when severe winter weather dampened productivity in many areas of the U.S. New credit commitments during the second quarter, totaling
"Asset-based lending activity clearly picked up during the second quarter of this year and we look for this trend to continue as U.S. firms gain confidence and expand their business," said CFA Chief Executive Officer
CFA's Quarterly Asset-Based Lending Index was conducted by
A full copy of CFA's Quarterly Asset-Based Lending Index is available at CFA ABL Index.
Founded in 1944, the
CONTACT: Media contact:
Michael Arbini, Director of Marketing and Communications Commercial Finance Associationmarbini@cfa.com, (646) 839-6086