CapEx Finance Demand Cools but Still on Record Pace in April 2026
Event summary
- April 2026 CapEx Finance Index shows new business volume (NBV) at $10.6 billion, down 1.1% MoM but up 9.6% YoY.
- Year-to-date NBV rose 15.0% compared to 2025, with small ticket deals up 39.8% YTD.
- Credit approvals remained healthy at 77.1%, with small ticket approvals rising 1.3 percentage points.
- Delinquency and loss rates fell, with overall delinquency at 1.8% and loss rate at 0.54%.
- Industry Confidence Index rose to 59.9 in May from 54.6 in April.
The big picture
The equipment financing sector remains robust despite a slight cooling in demand, driven by strong financial conditions and surging AI-related deals. The industry is on track for a record year, with small ticket deals and credit approvals indicating healthy underlying economic activity. However, geopolitical tensions and monetary policy dynamics pose potential risks that could impact future growth.
What we're watching
- AI Demand Impact
- How sustained AI-related deal growth will offset geopolitical tensions and monetary policy shifts.
- Financial Resilience
- Whether strong financial conditions can continue to dampen potential headwinds from external factors.
- Sector Confidence
- The pace at which industry confidence, as measured by the Monthly Confidence Index, will evolve in the coming months.
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