LIVINGSTON, N.J., Aug. 20 /PRNewswire-FirstCall/ -- CIT Small Business
Lending Corporation, the nation's No.1 Small Business Administration (SBA)
lender for the past three years and a subsidiary of CIT Group Inc.
(NYSE: CIT), announced today that it has achieved the top ranking in
Connecticut among SBA lenders through June 30, 2003. The SBA recently
confirmed CIT's No.1 ranking and noted that the company approved a total of
$13,879,000 in 7(a) loans to Connecticut small businesses in this time period.
"We are proud of this achievement in the Connecticut District," commented
David Sportelli, Senior Regional Account Manager for CIT Small Business
Lending Corporation. "This top ranking reflects CIT's ongoing dedication to
helping the state's small businesses grow and prosper."
Sportelli continued, "CIT is a full-service SBA lender and our approach
has translated into new job development and business growth in the local
Connecticut economy. We deliver financing programs for commercial real estate
purchases and construction, franchise and medical start-ups, and business
acquisitions and expansions. Our commitment to small businesses has enabled
CIT to develop an unparalleled level of success in SBA lending."
About CIT Small Business Lending Corporation
CIT Small Business Lending Corporation offers Small Business
Administration (SBA) loans to finance business acquisitions, owner-occupied
real estate purchases and franchise start-ups through a network of field
representatives. The nation's #1 SBA lender, CIT Small Business Lending has
been designated a "Preferred Lender" by the SBA and can provide quick credit
decisions and loan closings. The company's website and online SBA loan
application are located at http://www.smallbizlending.com.
About CIT
CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance
company, provides clients with financing and leasing products and advisory
services. Founded in 1908, CIT has nearly $50 billion in assets under
management and possesses the financial resources, industry expertise and
product knowledge to serve the needs of clients across approximately 30
industries. CIT, a Fortune 500 company, holds leading positions in vendor
financing, U.S. factoring, equipment and transportation financing, Small
Business Administration loans, and asset-based and credit-secured lending.
CIT, with its principal offices in New York City and Livingston, New Jersey
has approximately 6,000 employees in locations throughout North America,
Europe, Latin and South America, and the Pacific Rim. For more information,
visit http://www.cit.com.
SOURCE CIT Group Inc.
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Related links:
http://www.cit.com
http://www.smallbizlending.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20020910/CITLOGO
CONTACT:
Gia Porto-Lenza, CIT Small Business Lending,
+1-973-422-6040, gia.porto-lenza@cit.com; or Kimberly Storin, The
MWW Group, +1-212-827-3752, kstorin@mww.com, for CIT
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