Capex data shows borrower woes easing
* Capex financing volumes fall again in July
* But business borrower charge-offs, delinquencies improve
(Adds details on volumes, delinquencies, chargeoffs)
CHICAGO, Aug 24 (Reuters) - A trade group for lenders who finance half the capital equipment investment in the United States each year released data on Monday that suggested borrower woes continued to ease last month.
The Equipment Leasing and Finance Association said the number of loans, leases and lines of credit its members wrote fell again in July as the economic downturn continued to discourage commercial borrowing.
But charge-offs and delinquencies both declined during the month, ELFA told Reuters. The group's president, Ken Bentsen, said the data was an early sign of a possible recovery in the business.
ELFA said its capex financing index, which measures the overall volume of financings used to fund equipment acquisitions, fell to $4.8 billion in July, down from $5.2 billion in June and $7.4 billion last year.
The group said the percentage of borrowers delinquent 30 days or more on their capex financings fell to 3.9 percent in July, down from 4.1 percent in June but up from 3.3 percent last year.
Charge-offs as a percentage of all receivables fell to 1.67 percent in July, down from 2.55 percent in June but up from 1.07 percent last year.
(Reporting by James B. Kelleher; editing by Leslie Gevirtz)
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(Reporting by James B. Kelleher, editing by Leslie Gevirtz)
((firstname.lastname@example.org; + 1 312 408 8130; Reuters Messaging: email@example.com)) Keywords: CAPEX/FINANCINGS
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