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CIT Group's profit jumps on unit gains

CIT Group Inc. said yesterday that its profit jumped 31 per cent in the fourth quarter, as improvements at its capital finance and commercial finance units drove results. Net income rose to US$203.8 million, or 95 cents a share, from...

Factoring programme introduced for independent Texas banks

Texas United Bancshares, Inc. through its banking subsidiary, State Bank, has announced the formation of a participation programme to provide…


Tower Automotive obtains US$50m accounts receivable securitization facility

Tower Automotive announced it has obtained a US$50m accounts receivable securitization facility through GE Commercial Finance. The facility, which closed…


GE Commercial Finance Technology Lending names Ryan Franco as...

GE Commercial Finance Technology Lending, a unit of Global Media & Communications, announced that it has named Ryan Franco as…

#commercial finance#ING#management


State Financial Services Corporation announces agreement to acquire 80%...

State Financial Services Corporation, a bank holding company, announced that it has entered into an Agreement to acquire 80% of…


CIT to acquire Education Lending Group for US$19.05 per...

CIT Group Inc., a leading provider of commercial and consumer finance solutions, announced that it has signed a definitive agreement…

#bank#CIT#JPMorgan


Small Businesses to obtain larger working capital loans

US small business exporters are obtaining larger working capital loans under the new co-guarantee agreement of the Export-Import Bank of…

#bank#exporters#exports


New Ex-Im Bank/SBA guarantee agreement means larger working capital...

US small business exporters are obtaining larger working capital loans under the new co-guarantee agreement of the Export-Import Bank of…


New appointments at Siemens Financial Services asset-based lending unit

Siemens Financial Services announced that Jeff Appleton and Jay Beckman have joined the asset-based lending division as vice president and…

#bank#commercial finance#financial services


US$21bn allotted for 2005 loans to small firms

Expecting another year of record lending, the US Small Business Administration was authorized to make US$21bn in loans in fiscal…


Bush makes US$21bn available to SMEs

Press office of the US Small Business Administration (SBA) announced that president George W Bush had signed a legislation, thereby…


US Bank Business Credit enters US$25m accounts receivables facility

US Bank Business Credit is the agent of a US$25m senior secured credit facility to ACN, a reseller of telecommunication…

#bank#cash management#management

Newtek signs letter of intent for 3 year loan...

Newtek Business Services, Inc. a provider of business services and financial products to the small- and medium-sized business market, today…

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