CIT upgrades POS loan platform for small business purchases

The platform, operated through the CIT Small Business Solutions unit, allows businesses to finance equipment and supply purchases of USD 2,500 or more through a seamless process and also works online and through mobile devices.

The program allows customers to obtain financing from 12 to 60 months and has automated the process, using e-signatures and integration into e-commerce and customer relationship management platforms.

CIT Group is a financial holding company and bank holding company that provides financing, leasing, and advisory services principally to middle-market companies and small businesses in a wide variety of industries, primarily in North America. CIT also provides banking and related services to commercial and individual customers through its banking subsidiary, CIT Bank N.A., which includes over 60 branches located in Southern California and an online bank.