CIT Increases Lending Facility for Fashion Company to $100MM

CIT Commercial Services, a subsidiary of First Citizens Bank, increased a New York-based fashion company’s discretionary lending facility to $100 million to support the acquisition of an entity that specializes in children’s apparel.

The fashion company, a longtime client of CIT, focuses on designing, importing and distributing apparel, handbags and accessories. The financing provided by CIT will support the fashion company’s business operations and growth plans as it integrates and improves upon its recently acquired entity.

“In arranging this financing, we worked closely with the client to tailor a solution aligned with their business goals,” Tom Fingleton, managing director and Northeast regional manager for CIT Commercial Services, said. “We have a longstanding relationship with this client, and we welcome the opportunity to continue to support their business growth strategy.”


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.