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A teetering giant

The troubles at factoring giant CIT continue to deepen, with the company remaining tight-lipped about its future. BB&T provide insights into the issue and CIT a statement reaffirming their commitment to their clients. (more…)

2010: A turnaround year for banking and financial services

Senior business leaders in the banking and financial services industry foresee their industry's recovery lagging that of the national economy,…

#cloud#financial services#management


Factoring firm introduces small business program

In response to increasing demand for business credit and the sharp decline in the supply of bank loans, Universal Funding…

#bank#commercial finance#international


Contractor accused of $1m factoring fraud

Last year Covenant Construction Unlimited billed for more than $1m in work. The invoices were passed on to a factoring…


CIT obliged to let client go

Troubled US lender CIT has been obliged to let one of its clients walk away from contract following an out…


CIT unable to file quarterly report by deadline

In a filing, CIT Group said it was unable to file its quarterly report for the period ended June 30,…

#CIT#funding#liquidity


CIT Group shares hit by bankruptcy concerns

Shares in troubled lender CIT Group Inc. dropped more than 20% by the close of trading Monday amid fears the…

#alternative financing#bankruptcy#CIT


Platinum Funding Group provides $66m factoring facility

Platinum Funding Group has signed an agreement to provide a $66 million accounts receivable factoring facility to a leading provider…

#banks#funding#liquidity


Bibby launch ‘KickStart’ funding

Bibby Financial Services said today it is unveiling 'KickStart' a specialized funding program for entrepreneurs and small business owners (more…)


FGI Finance appoints vice president

FGI Finance has announced the appointment of it's new vice president of business development, responsible for developing the U.S. West…

#commercial finance#commercial lending#purchase order


CIT announces amendment of tender offer

Troubled lender CIT Group Inc. today announced that it has amended its pending tender offer for its $1bn of Floating…

#CIT#small businesses


$1bn boost for CIT trade finance unit

Troubled lender CIT Group has announced that it will give $1 billion of that money to its trade finance unit…

#bankruptcy#Boost#CIT

Demand for factoring remains strong

United Capital Funding Corp. announced today that they continue to have strong demand for their services for the year to…

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