- Equipment financing.
- Working capital loans.
- Franchise financing.
- Invoice factoring.
How Can CIT Bank Loans Be Used?
CIT Bank doesn’t publicly state which industries are ineligible for any of its business loans and financing.
How Do CIT Bank Loans Work?
You can apply for a business loan or financing on CIT Bank’s website, which it says should take as little as three minutes. Be prepared to provide business and personal tax returns, bank statements, financial statements, and legal documents.
Once you’re approved, your contracts will be sent online, which you can then sign electronically.
CIT Bank says it can approve loans in minutes and disburse funds as quickly as the same day.
Loans of up to $500,000 are available, with terms from six months to seven years.
CIT Bank requires that small businesses have been operating for at least two years. CIT Bank’s credit score and annual revenue requirements are not listed on its website.
What Credit Score Do You Need?
CIT Bank does not list credit score requirements for its business loans.
Where Does CIT Bank Operate?
CIT Bank offers business loans across the U.S.
Is CIT Bank Reputable?
CIT Bank has a B rating from the Better Business Bureau. At Trustpilot, CIT received a poor rating of 2.6 stars out of 5 from about 300 reviews.
How Is CIT Bank’s Customer Service?
To contact CIT Bank about small business services, you can call 866-777-0117, or you can email at [email protected].
What Are Some of CIT Bank’s Online Features?
CIT Bank’s application process and account management is entirely online.
- Businesses seeking fast approval and funding.
- Businesses with a need for fast access to up to $500,000.
More News
Know the Difference Between Available Funds and Account Balance in Your Bank Account
Can You Get a Wooden Credit Card?
CFPB Attempts to Cap Credit Card Late Payment Fees at $8