CIT Group, Inc., arguably the largest bank and financier to small business and entrepreneurs, is headed for bankruptcy possibly leaving millions of small businesses, entrepreneurs and startups in the dark. Small firms hoping to leverage the bank for loans on everything from daily operations to expansion just got the rug pulled out from underneath.
Simply put, [...]
Posts Tagged ‘cit group’
CIT Reaches Tentative Financing Deal With Bondholders
July 19th, 2009 |
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CIT Group Inc has cut a deal with its key bondholders for $3 billion in financing that will allow the 101-year-old lender to avoid bankruptcy, according to a headline on the Wall Street Journal’s web site.
Reese Schonfeld: The “Financial System” vs. The Real World
July 16th, 2009 |
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The Administration continues to proclaim that we will create new jobs through small business and entrepreneurship. That’s going to be very hard to do with CIT gone.
CIT Group: Washington Considers If Lender Is ‘Too Big Too Fail’
July 14th, 2009 |
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The CIT Group is one of the nation’s biggest lenders to small businesses. But a debate is swirling in Washington over whether it is large enough — or important enough — to save.
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