US Business Borrowing for Equipment Rises 21 Percent in August: ELFA

The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City on April 26, 2020. Jeenah Moon/Reuters

Borrowings by U.S. companies for capital investments rose 21 percent in August from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Thursday.

The companies signed up for $8.5 billion in new loans, leases and lines of credit last month, up from $7 billion a year earlier. However, borrowings fell 14 percent from the previous month.