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
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SOURCE CIT Group Inc.
