CFLA/PayNet Canadian Equipment Lending Index (CELI)

The CFLA/PayNet Canadian Equipment Lending Index (CELI) measures the volume of new commercial loans and leases to small and medium sized businesses, indexed so that January 2005 equals 100, based on activity over the past 30 days as reported by lenders into the PayNet database.


  • Provide early signals of future economic growth, demand for capital, and business fixed investment across multiple sectors of the economy.
  • Serve as robust indicators of economic activity in Canada.
  • Provides lenders a snapshot of the future so they can adjust their approval criteria as needed.

About CELI

The Canadian Finance & Leasing Association (CFLA) partners with PayNet to release the CFLA/PayNet CELI. The index is published monthly as follows:

  • PRELIMINARY —current month data reflecting most recent small and medium business lending activity released
  • REVISED — data for the month preceding Preliminary release
  • FINAL — data for the month preceding Revised release

Members of the Canadian Finance & Leasing Association can access the Index on the CFLA website under Industry Research & Data.