CIT Commercial Services, a wholly-owned subsidiary of First Citizens Bank, 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 retailers.
“We were able to develop an attractive financing facility to support our client’s business goals as they continue to grow,” Darrin Beer, western regional manager for CIT Commercial Services, said.
“We continuously strive to create tailored solutions for our clients that set us apart from other lenders and ABL providers in the consumer product space,” Mike Earnhart, western regional sales manager at CIT Commercial Services, said.
