CIT Closes $50MM Factoring Facility with Consumer Technology Firm

CIT Commercial Services, a subsidiary of First Citizens Bank, completed a $50 million factoring facility with a West Coast consumer technology firm.

October 13, 2022 CIT Commercial Services | Darrin Beer | First Citizens Bank Ian Koplin

CIT Commercial Services Closes $75MM Factoring Facility with Consumer Products Wholesaler

CIT Commercial Services, a subsidiary of First Citizens Bank, completed a $75 million factoring facility on behalf of a consumer products wholesaler.

August 12, 2022 CIT Commercial Services | Tom Fingleton Ian Koplin

CIT Increases Lending Facility for Fashion Company to $100MM

CIT Commercial Services, a subsidiary of First Citizens Bank, 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.

August 4, 2022 CIT | CIT Commercial Services | First Citizens Bank | Tim Fingleton Ian Koplin

CIT Commercial Services Hires Martin as Regional Manager for Southeast Region

The commercial services business of CIT hired Brian Martin, an experienced banker with broad expertise in factoring and accounts receivable financing, as a regional manager leading CIT Commercial Services in the Southeast region.

June 2, 2022 Brian Martin | CIT Commercial Services | Michael Hudgens Rita Garwood

CIT Supply Chain Finance Unit Expands Capabilities

CIT Group’s Supply Chain Finance unit, part of its Commercial Services division, is expanding its capabilities, including the implementation of a new cloud-based supply chain finance platform.

October 22, 2019 CIT Commercial Services | CIT Group | CIT Group Supply Chain Finance | Joerg Obermueller Amanda Koprowski

ABL Vet Younts Joins CIT Commercial Services

CIT Group added Jerry Younts to its Commercial Services team as a senior business development officer. Younts will be responsible for offering factoring and asset-based financing services.

March 2, 2018 CIT Commercial Services | Jerry Younts ABF Journal

CIT Names Former Monroe MD Adelson to Commercial Services Team

Marc Adelson joined CIT’s Commercial Services business as managing director and Northeast regional manager. Adelson joined from Monroe Capital where he was a managing director.

October 6, 2017 CIT Commercial Services | CIT Group | Marc Adelson | Marc Heller Terry Mulreany

CIT Commercial Appoints Western Regional Sales/Portfolio Manager

CIT Commercial Services appointed Darrin Beer as western regional sales and portfolio manager. Beer has served with CIT since 1999, when it acquired the factoring portfolio of Heller Financial.

August 12, 2016 CIT Commercial Services | Darrin Beer | Marc Heller ABF Journal

No, Actually Malls Aren’t Dead: Three Reasons Why

It seems like only yesterday that the mall replaced Main Street as the place to hang out with friends, grab a burger or hunt for a pair of trendy jeans. Now the internet and social media have turned many malls into ghost towns as brick-and-mortar stores struggle to stay afloat and kids hang out on Snapchat and Instagram instead of the food court. But many malls are fighting back and using technology to reinvent themselves. Writer/editor Natalie Burg reports that malls aren’t dead yet.

July 20, 2016 CIT Commercial Services | Malls ABF Journal

CIT Appoints Heller President of CIT Commercial Services

CIT has named Marc Heller president of CIT Commercial Services following the retirement of current president Jon Lucas.

January 7, 2016 CIT Commercial Services | Jon Lucas | Marc Heller ABF Journal