First Citizens Bank announced its CIT Commercial Services unit provided up to $48 million in financing to Crown Crafts Inc., one of America’s largest producers of infant bedding, toddler bedding, bibs, toys and disposable products.The financing...
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July 31, 2024, 07:00 AM
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First Citizens Bank announced its CIT Commercial Services subsidiary has named Don Norman as a Vice President and Senior Portfolio and Relationship Manager in its Western Region.In his new role, Norman will be responsible for managing a portfolio of...
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May 13, 2024, 07:15 AM
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First Citizens Bank announced its CIT Commercial Services subsidiary has named Jason Goldberg as a regional sales manager dedicated to increasing new business in the Northeast.Goldberg will be responsible for managing a team of business development...
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May 09, 2024, 07:18 AM
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First Citizens Bank announced its CIT Commercial Services subsidiary, a national leader in factoring, credit protection and accounts receivable management solutions, recently closed three major client financing transactions.CIT Commercial Services...
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October 19, 2023, 07:10 AM
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First Citizens Bank announced its CIT Commercial Services subsidiary has completed a $6.5 million credit facility with a California-based home furnishings and apparel importer.Under the agreement, CIT Commercial Services will also take the lead in...
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August 22, 2023, 07:10 AM
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First Citizens Bank announced Marc Heller has been promoted to the position of Vice Chairman of CIT Commercial Services, a subsidiary of First Citizens Bank, and that Michael Hudgens has been promoted to the role of CIT Commercial Services President...
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June 08, 2023, 07:25 AM
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CIT Commercial Services, a subsidiary of First Citizens Bank, announced leadership changes as it continues to align its business to support clients and future growth.Tom Fingleton, who has served as Northeast Regional Manager since March 2019, has...
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May 09, 2023, 07:18 AM
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CIT Commercial Services, a wholly owned subsidiary of First Citizens Bank, announced it has closed a non-recourse factoring arrangement and $8 million senior secured facility for a Los Angeles-based company that sells men's and boys' clothing to...
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February 16, 2023, 07:00 AM
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CIT Commercial Services, a subsidiary of First Citizens Bank, announced that it has completed a $50 million factoring facility with a West Coast consumer technology firm.CIT worked closely with the client to create a unique factoring arrangement to...
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October 13, 2022, 07:10 AM
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CIT Commercial Services, a subsidiary of First Citizens Bank, announced it increased a New York-based fashion company’s discretionary lending facility to $100 million to support the acquisition of an entity that specializes in children’s apparel.The...
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August 04, 2022, 06:58 AM
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CIT, a division of First Citizens Bank, announced that its Commercial Services business is promoting and hiring new business development leaders to support clients and drive growth in factoring finance in the Northeast and West.In the Northeast...
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April 07, 2022, 07:15 AM
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CIT, a division of First Citizens Bank, announced a reorganization of its Commercial Services factoring business to position it for accelerated growth by providing even better service for clients and prospects.CIT Commercial Services is one of the...
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March 08, 2022, 07:15 AM
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U.S. health officials say Americans should wear masks in public to combat the coronavirus. Financial support by CIT Group Inc. is helping two California apparel makers create masks that protect with style.Sanctuary Clothing and Karen Kane, both Los...
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April 08, 2020, 07:25 AM
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CIT Group Inc. announced Amna Mahmood has been promoted to Managing Director, National Underwriting Manager, in CIT’s Commercial Services business.In her new role, Mahmood will be responsible for managing and supervising underwriters across all...
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April 01, 2019, 07:20 AM
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CIT Group Inc. announced it has named Joerg Obermueller as the managing director of the Supply Chain Finance business within the company’s Commercial Services division.In his new role, Obermueller will be responsible for assembling a team, building...
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July 31, 2018, 07:20 AM
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According to the 8th annual CIT Retail Outlook, 80% of middle market retailers rate their overall financial condition as healthy or very healthy. Many are cautiously optimistic about the upcoming holiday season and the near-term future. Sixty percent...
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November 23, 2016, 07:02 AM
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CIT Group Inc. announced that CIT Commercial Services appointed Darrin Beer as Western Regional Sales and Portfolio Manager. In this role, Beer will lead CIT Commercial Services activities in the Western United States. He will continue to be based in...
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August 12, 2016, 07:39 AM
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The retail industry is going through a form of evolution, maybe even a revolution. E-commerce has changed the way retailers sell, so that the major brick-and-mortar companies are looking at their individual stores, potentially closing what they...
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July 08, 2016, 07:12 AM
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CIT Group (NYSE:CIT) announced the appointment of Marc Heller as President of CIT Commercial Services, effective February 1, 2016, following the retirement of current CIT Commercial Services President Jon Lucas on January 31, 2016. Heller will report...
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January 07, 2016, 07:15 AM
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Growth in the U.S. furniture industry continues to outpace the U.S. economy, due in large part to strong performances in bedroom and dining room furnishing sales. While housing continues to improve and discretionary spending increases, the sector...
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October 16, 2015, 07:00 AM
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CIT Group Inc. (NYSE:CIT) announced the appointment of Louis Barone as Managing Director, Northeast Regional Sales Manager of CIT Commercial Services, a leading provider of factoring services in the United States. He will report directly to Marc...
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September 28, 2015, 07:07 AM
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As the economic recovery gains speed, the consumer electronics and furniture sectors of the retail industry can look forward to growth in 2015, while the apparel sector faces a more mixed outlook. These insights and more are shared by three CIT...
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February 19, 2015, 06:52 AM
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CIT Commercial Services, a leading provider of factoring services, and a unit of CIT Group launched “CIT CIS Mobile,” (cit.com/getCISMobile) a mobile app designed to bring the functionality of CIT Commercial Services’ Client Information System (CIS)...
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January 08, 2015, 07:05 AM
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After several years of slow growth, middle market furniture executives are feeling more optimistic about the future of their sector. According to Jon Lucas, President of CIT Commercial Services, and Mike Hudgens, Southeast Regional Manager of CIT...
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May 13, 2014, 06:17 AM
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