CIT Small Business Lending Corporation, Nation's #1 SBA Lender; Announces First of Its Kind Partnership With Sunbelt Network.Business Editors LIVINGSTON, N.J.--(BUSINESS WIRE)--April 2, 2001 CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Small Business Lending Corporation, the nation's number one small business lender and a unit of CIT (NYSE NYSE See: New York Stock Exchange :CIT; TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CIT.U), a leading global source for financing and leasing capital, announced a first of its kind agreement aimed at increasing financing accessibility to small business owners with Sunbelt Business Brokers Network, the largest business brokerage firm in the world. The financing approval process will begin electronically from a Sunbelt broker's initial business listing with CIT immediately commencing its review. If the listing meets CIT's basic loan pre-qualification requirements, a loan pre-qualification can be turned around in 24 to 48 hours. For the right buyer, CIT can offer a flexible loan structure, specifically targeted towards business acquisitions and tailored to a buyer's financial needs. "This alliance evolved from the need for most prospective business buyers to secure financing, a process that can become a major obstacle to the acquisition of a business," said Chris Lehnes, vice president of Business Development for CIT Small Business Lending. "From the viewpoint of a seller, a pre-qualified loan can make all the difference in closing the deal. The alliance with Sunbelt, a long-time source of loan referrals for CIT, made absolute sense, because it will provide us with a broader base of customers and allow Sunbelt to offer its clients greater and easier access to financing." "Since banks rarely approve financing for a new buyer, utilizing a business brokerage service can easily simplify the process, especially when working in coordination with a lending association," said Dennis D'Annunzio, Sr., Sunbelt's chief executive officer. "The collaboration with CIT Small Business Lending Corporation, the nation's Number One Small Business Lender; and Sunbelt, the world's largest business brokerage firm, will streamline the financing process, ultimately allowing brokers to assist clients in closing deals more quickly and easily." About Sunbelt Leading the way with cutting edge marketing technology, the experience of over twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. of selling businesses and the continued quest for Verb 1. quest for - go in search of or hunt for; "pursue a hobby" quest after, go after, pursue look for, search, seek - try to locate or discover, or try to establish the existence of; "The police are searching for clues"; "They are searching for the complete customer satisfaction keeps Sunbelt on top. For more information on the Sunbelt Network, it's broker services or franchises and businesses for sale, visit their Web site at www.sunbeltnetwork.com. About CIT Small Business Lending Corporation CIT Small Business Lending Corporation is a unit of CIT. For more information on the financing products and services CIT provides to small business owners, please visit www.smallbizlending.com. CIT is a leading global source of financing and leasing capital and an advisor to companies in a variety of diverse industries. Managing more than $50 billion in managed assets across a diversified diversified (di·verˑ·s portfolio, CIT is the trusted financial engine empowering many of today's industry leaders and emerging businesses, offering vendor, equipment, commercial, factoring, consumer and structured financing capabilities. Founded in 1908, CIT operates extensively in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada with strategic locations in Europe, Latin and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , and the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. . For more information on CIT, visit the Web site at www.cit.com. |
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