CIT Commercial Services has announced a strategic alliance with FTADirect, a leading online business-to-business marketplace for the textiles and finished goods industry. CIT will provide factoring services to users of FTADirect by providing credit protection to the sellers and lines of credit to the buyers.
CIT, who were chosen for their expertise in the textile and apparel industries, plan to develop their alliance with FTADirect via business-to-business e-commerce transactions on the Internet. The president of CIT Commercial Services, John F.Daly, said that the alliance would provide FTADirect buyers with “increased spending and sourcing power”, whilst at the same time providing sellers with the additional security afforded by the credit protection service of being paid on all approved orders on the website.
Source: Business Wire
