STOCK TITAN
  1. Home
  2. News
  3. CIT

CIT Provides Financing for Heavy Equipment Acquisition

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
acquisition

NEW YORK, Oct. 19, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that the Industrial group within its Equipment Finance business has provided about $4.4 million in financing toward the acquisition of multiple pieces of heavy equipment.

The equipment consists primarily of yard loaders and articulated dump trucks, which the client is using to upgrade its fleet of heavy equipment.

"We were pleased to finance this acquisition of new equipment, which will help our client grow their business and better support their own clients," said Mike Jones, president of CIT's Business Capital division, which includes equipment financing.

CIT's Equipment Finance business works with manufacturers, distributors, resellers, dealers and systems integrators to finance their equipment, software and services to commercial customers. Its Industrial group maintains a special focus on the financing of construction and industrial equipment.

Equipment Finance is part of CIT's Business Capital division, which empowers small and mid-size businesses by providing equipment financing solutions via technology-enabled platforms and market leading structuring expertise.

About CIT
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran@cit.com

 

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cit-provides-financing-for-heavy-equipment-acquisition-301402618.html

SOURCE CIT Group Inc.

Stock CIT logo
CIT

NYSE:CIT

CIT Rankings

N/A Ranked by Market Cap
N/A Ranked by Stock Gains
N/A Ranked by Dividends

CIT Latest News

Jan 4, 2022
First Citizens Completes Merger With CIT Group
Dec 28, 2021
CIT Provides $35.5 Million to Greenyield Shipping LLC
Dec 17, 2021
FIRST CITIZENS, CIT ANNOUNCE RECEIPT OF REGULATORY APPROVALS FOR MERGER
Dec 16, 2021
CIT Arranges $34 Million in Financing for Senior Housing Community in Arizona
Dec 15, 2021
CIT Provides $6.3 Million Financing to Diamond Communications LLC

CIT Stock Data

Commercial Banking
Finance and Insurance
Link
US
Livingston

About CIT

CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). CIT's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network.