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CIT Factoring University Releases Tutorial Video: “How to Minimize Bad Debt Losses”
Educational Web site Highlights the Benefits of Factoring for Business Owners
Tuesday, August 7, 2012 08:30 AM
Jonathan (Jon) A. Lucas, President of CIT Trade Finance (Photo: Business Wire)
This short video provides business owners with information about how a factoring company could help them minimize bad debt losses.

NEW YORK--(BUSINESS WIRE)--CIT Factoring University (CITFactoringUniversity.com), created by CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of factoring services in the U.S., today launched “How to Minimize Bad Debt Losses”, the second in a series of videos that educate business owners on the features of factoring and how the service could benefit their business.

“Bad debt losses can be a significant problem for business owners who need these funds to operate their companies,” said Jon Lucas, President of CIT Trade Finance. “This short video provides business owners with information about how a factoring company could help them minimize bad debt losses.”

A bad debt loss occurs when a business is unable to collect a debt that it is owed, and all reasonable efforts have been exhausted to collect the amount owed.

CIT Factoring University is a Web site that offers a comprehensive education-based approach to the financial service known as accounts receivable factoring. The site provides a variety of exclusive content that highlights the benefits of factoring for business owners. Visitors can view testimonial videos that feature executives from consumer product industries who explain why they use factoring and how it benefits their businesses. In addition, CIT Factoring University provides a list of Frequently Asked Questionsinfographics that explain the factoring process, business solutions provided by factoring, and more.

CIT Factoring University’s inaugural tutorial video featured “What is Factoring?” Individuals interested can join the discussion about factoring on the Factoring University LinkedIn group.

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About CIT Trade Finance

CIT Trade Finance is a leading provider of factoring services in the United States for companies that sell into retail channels of distribution. It provides factoring credit protection, accounts receivable management and asset-based lending to manufacturers and importers. www.citfactoringuniversity.com

About CIT

Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $33 billion in finance and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lendingfactoringretail financeaerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC),BankOnCIT.com, its primary bank subsidiary, which offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com

Contact:

CIT MEDIA RELATIONS:
C. Curtis Ritter, (973) 740-5390
Director of Corporate Communications
Curt.Ritter@cit.com
or
Matt Klein, (973) 597-2020
Vice President, Media Relations
Matt.Klein@cit.com
or
CIT INVESTOR RELATIONS:
Ken Brause, (212) 771-9650
Executive Vice President
Ken.Brause@cit.com