Chris Esposito Archives

Ready For Anything: How CIT Continues to Evolve in the Asset-Based Lending Industry

CIT is an established name in the asset-based lending industry, but that hasn’t stopped it from continuing to evolve and innovate. In 2020 alone, the bank expanded its ABL division, hired a new ABL team leader and continued to close deals with its CIT Northbridge Credit joint venture, setting itself up for continued success in the marketplace.

December 18, 2020 Chris Esposito | CIT | CIT Northbridge Credit | David Harnisch | Neal Legan Grace Garwood

CIT Serves as Sole Lender on $25MM Revolving Credit Facility for KMS

CIT’s asset-based lending and sponsor finance businesses served as agent and sole lender on a $25 million revolving credit facility for KMS, a wholesaler of consumer product closeouts and special buys alongside its own line of KMS-sourced products.

CIT Serves as Joint Lead Arranger on $175MM Financing for MSTS

CIT Group’s asset-based lending and sponsor finance businesses, both part of the commercial finance division, collaborated to serve as joint lead arranger on $175 million financing for MSTS, a B2B payment and credit solutions provider.

CIT Serves as Sole Lender on $75MM Revolving Credit Facility for Skillsoft

CIT’s asset-based lending business served as agent and sole lender on a $75 million revolving credit facility for Skillsoft, a global provider of learning and talent management solutions.

October 1, 2020 Chris Esposito | CIT | John Frederick | Skillsoft Ellie Delany

CIT Arranges $150MM Credit Facility for Steve Madden

CIT Group’s asset-based lending business served as joint lead arranger on a $150 million asset-based revolving credit facility for Steve Madden.

September 1, 2020 Chris Esposito | CIT | Edward Rosenfeld | Steve Madden Phil Neuffer

CIT Serves Arranges Senior Secured Credit Facility for von Drehle

CIT Group’s asset-based lending business, working in conjunction with its sponsor finance group, served as lead arranger on a senior secured credit facility for von Drehle Corporation, which produces paper towel, tissue and dispensing products.

August 18, 2020 Chris Esposito | CIT | Jeff Kilrea | Randy Bergman | von Drehle Phil Neuffer

CIT Appoints Esposito Managing Director for Asset-Based Lending Unit

CIT Group named Chris Esposito managing director in charge of its newly expanded asset-based lending business. Esposito will be responsible for managing the asset-based lending team and overseeing the national ABL business.

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