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FirstMerit Bank acquires asset based lending division

Ohio s FirstMerit Bank is to acquire the asset based lending division of Missouri-based (more…)

#bank#First Bank#small business

‘Business as usual’ for CIT Commercial Services says Vice...

Peter Mulroy, Senior Vice President of CIT Commercial Services, has declared business as usual at the factoring firm, despite attempts…

#bank#CIT#confirming


Interface offers factoring to CIT clients

Interface Financial Group have become the second factor this week to offer invoice finance services to CIT Group customers (more…)


US factor opens CIT 'hotline'

A US factoring firm has re-launched a specialised hotline directed at CIT factoring customers who may be looking for an alternative factoring…

#CIT#commercial finance#confirming


NewAlliance launch Commercial Finance division

NewAlliance Bank yesterday announced the launch of the bank s first asset-based lending division. (more…)


CIT Commercial Finance not filing for bankruptcy

CIT Commercial Services have confirmed they will not file for bankruptcy with parent bank CIT Group. (more…)


CIT files for bankruptcy

CIT Group has filed for bankruptcy, it was announced today. (more…)

#bankruptcy#CIT#commercial finance


Construction business owner pleads guilty to factoring fraud

The owner of a small construction business based in New Port Richey, Florida has pleaded guilty to defrauding private factoring…


CIT secures loan

CIT have secured additional funding from a group of a "group of diverse lenders" (more…)


CIT counter Icahn's criticism of restructure plan

CIT Group, parent bank of CIT commercial finance, have deemed billionaire investor Carl Icahn s letter to bondholders inaccurate (more…)

#bank#cash-flow#CIT


US firm launches alternative finance search facility online

Alternative receivables financer provider and asset-based lender Capital Match has launched (more…)


CIT extends exchange deadline

CIT Group have once again made alterations to the debt exchange offered to bondholders; the second change since the restructure…

#bankruptcy#CIT#interest rate

1st Commercial Credit launches business credit report service

1 st Commercial Credit LLC, a factoring firm based in the US, today launched an online database that allows companies to…

#credit reports#payment terms#receivables

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