CIT Group Inc (NYSE:CIT)

CIT Group, Inc. is a bank holding company that, together with its owned subsidiaries provides primarily commercial financing and leasing products and other services to small and middle market businesses. It operates through five segments: Corporate Finance, Transportation Finance, Trade Finance, Vendor Finance and Consumer segment. The Corporate Finance segment provides financing and advisory services to small and medium size companies in the U.S. and Canada and offers senior loans, including revolving lines of credit secured by accounts receivables and inventories, term loans based on operating cash flow and enterprise valuation, and government guaranteed loans. The Transportation Finance segment provides aircraft and railcar leasing and financing solutions to operators and suppliers in the global aviation and North American rail car industries. The Trade Finance segment provides factoring, receivable management products and secured financing to businesses that operate in several industries, including apparel, textile, furniture, home furnishings and consumer electronics and offers domestic and international customized credit protection, lending and outsourcing services that include working capital and term loans, factoring, receivable management products, bulk purchases of accounts receivable, import and export financing and letters of credit programs. The Vendor Finance segment develops business solutions for small businesses and middle market companies, providing equipment financing and value added services. The Consumer segment includes government-guaranteed student loans. The company was founded by Henry Ittelson in 1908 and is headquartered in New York, NY.