ELFA President and CEO Ralph Petta said, “Solid May new business volume growth, put in perspective, compares favorably to a low y-o-y base when the pandemic was raging at the beginning of the summer last year. While overall industry performance is relatively strong during the first half of this year, even more robust demand for financing is being constrained by supply chain shortages in several economic subsectors. And, with COVID-19 related payment modifications resolved for the most part, ELFA members report their portfolios performing well.”
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