CIT Closes $25MM Loan to Friendly Franchisees

CIT Group’s Franchise Finance team, part of CIT’s Business Capital division, closed a $25 million loan to La Palma, CA-based Friendly Franchisees.

CIT Names MD, Adds Sales VP For Franchise Finance Division

CIT Group named Michael Vallorosi as managing director of its franchise finance business and Christopher Wren as a sales vice president of its restaurant franchise finance practice.