Contact

11 West 42nd Street
New York, NY 10036

P: (856) 813-2696
F: None
W: www.cit.com
CIT Group

Management

  • Michael Coiley: Managing Director

Summary

Founded in 1908, CIT is a bank holding company with more than $34 billion in finance and leasing assets. It provides capital to more than 1 million small-business and middle-market clients. Customers span more than 30 industries. 

CIT provides senior secured lines of credit and working capital based on asset valuations. Specific services include:

  • Bulk sales of accounts receivables. Minimum transaction of $10 million.
  • Import-export factoring through CIT Trade Finance. CIT typically provides non-recourse (invoice) factoring as well as  notification and non-notification factoring
  • Revolving lines of credit based on valuation of inventory and receivables.
  • Back-office support. The company also provides bundled back-office support services that include  credit protection and advice, accounts receivable bookkeeping, collections, cash management and lock box processing.

Size of Loans

  • $1,000,000 - $5,000,000
  • $5,000,000 - $15,000,000
  • $15,000,000 plus

Available Financing

  • Import/Export Factoring
  • Factoring Recourse
  • Factoring Non-Recourse
  • Accounts Receivable Financing
  • ABL
  • Inventory Financing
  • Trade Finance

Industries

  • Automotive
  • Energy
  • Food
  • Healthcare
  • Manufacturing
  • Retail
  • Staffing
  • Steel
  • Transportation

Recent Transactions

BorrowerIndustryAmount (M)QuarterYear
TrustHouse Services GroupProvider/Healthcare, Education-Focused Food Services117.522012
Ernest HealthProvider/Post-Acute Care Services204.022011
J. JillRetailer/Women's Apparel40.022011
Sun Capital Partners Inc affiliatePrivate Investment Firm65.022009
Industrial Growth PartnersProvider/Equity Capital36.012009
Vision Logistics Holding CorpProvider/Oil, Gas Transportation Services190.032008
Pocket CommunicationsProvider/Wireless, Voice Data Services45.032008
Southern California Pizza CoOperator/Restaurants29.332008
Como Fred David GroupOperator/Women's Apparel Company90.022008
Wyle Labrotories Inc.Integrator/Federal Systems230.012008
Spyglass Cedar Creek LPProvider/Oil, Gas Exploration, Development22.042007
Legends GamingOwner/DiamondJacks Casino & Hotel, DiamondJacks Casino & Resor222.042006
Horizon Offshore, Inc.Provider/Marine Construction Services77.412006