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CIT expands capital equipment finance team to serve new markets

Friday 20 July 2018 11:56 CET | News

US-based CIT Group has announced it is creating a Logistics Finance unit within its Capital Equipment Finance business for leasing and financing solutions.

The logistics equipment category broadly includes agriculture, manufacturing, production, packaging, assembly, materials handling, warehousing, support assets, and transportation.

Capital Equipment Finance provides equipment financing solutions, working with middle market and large cap businesses. The unit specialises in providing equipment loans and leases.

CIT group has approximately USD 50 billion in assets as of 31st March 2018. Its principal bank subsidiary, CIT Bank has approximately USD 30 billion of deposits and more than USD 40 billion of assets.

CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across several industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank.


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Keywords: CIT, capital equipment finance, supply chain finance, logistics, logistics finance, US, lending, loans, agriculture, manufacturing, production, packaging, assembly, materials handling, warehousing, support assets, transportation
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