FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

CIT Closes $50MM Factoring Facility with Consumer Technology Firm

Date: Oct 13, 2022 @ 07:35 AM
Filed Under: Factoring News

CIT Commercial Services, a subsidiary of First Citizens Bank, completed a $50 million factoring facility with a West Coast consumer technology firm.
 
CIT worked closely with the client to create a unique factoring arrangement to provide the technology designer and producer with additional flexibility in meeting its working capital needs.

"Our client is an innovative company in an exciting and dynamic industry sector and we were pleased to support their working capital needs with this new factoring agreement," said Darrin Beer, western regional manager for CIT Commercial Services.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.