March 30 (Reuters) – U.S. companies borrowed 14.2% more to finance equipment purchases in February than a year earlier, fueled by a surge in activity among independent providers, the Equipment Leasing and Finance Association said on Monday.
The Washington-based trade association, which tracks economic activity for more than the $1 trillion equipment finance sector, bases its report on a survey of 25 members, including Bank of America and financing units of Caterpillar, Dell Technologies, Siemens AG, Canon and Volvo AB.
(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Tasim Zahid)
