CIT LAUNCHES FACTORING UNIVERSITY: ‘CITFACTORINGUNIVERSITY.COM’
Educational Website Highlights the Benefits of Factoring and Related Services
NEW YORK – July 10, 2012 – CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of factoring services in the U.S. for companies that sell into retail channels of distribution, today announced the launch of Factoring University (CITFactoringUniversity.com), a first-of-its-kind Website that offers a comprehensive education-based approach to the financial service known as accounts receivable factoring.
“As one of the leading providers of factoring services in the United States, we saw there was a need for greater education about factoring services. That is why we designed Factoring University, which is an online resource for small and mid-size business owners looking for information about this financing tool,” said Jon Lucas, President of CIT Trade Finance. “Factoring University provides a platform from which individuals can educate themselves on the benefits of factoring and related services, while highlighting the industry expertise and thought leadership of CIT’s executives.”
Factoring University offers a variety of exclusive content designed to highlight the benefits of factoring for companies that sell into retail channels of distribution, such as protection against bad debt losses and efficient collection services. Visitors can view CIT client testimonial videos that feature executives from the apparel, textile and houseware sectors who explain why they use factoring and how it benefits their businesses, as well as an animated tutorial video which easily explains “What is Factoring?” Future videos will focus on, “How to Minimize Bad Debt Losses,” and “Managing Collections Efficiently.” In addition, Factoring University provides a list of Frequently Asked Questions; infographics that explain the factoring process, business solutions provided by factoring, and more.
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About CIT Trade Finance
CIT Trade Finance is a leading provider of factoring services in the United States for companies that sell into retail channels of distribution. It provides factoring credit protection, accounts receivable management and asset-based lending to manufacturers and importers. cit.com/citfactoringuniversity.com
Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $34 billion in financing and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its more than one million small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC), BankOnCIT.com, its primary bank subsidiary, which offers a suite of online savings options designed to help customers achieve a range of financial goals. cit.com