Younts will be responsible for offering factoring and asset-based financing services to furniture, textile, floor covering manufacturers and importers, and other clients, primarily in the Southeastern United States.
“CIT is continuing to build a best-in-class team to provide factoring and other financing options to Southeastern manufacturers and importers,” said Mike Hudgens, Southeast regional manager for CIT’s Commercial Services group. “We are pleased to welcome Jerry to our lineup of experts.”
Younts has had a long and successful career as a factoring professional and is well known to core companies in the market. At one time or another, he has held senior leadership positions at some of the most recognized companies in the factoring industry.
Most recently, he was employed as a senior vice president at BB&T Commercial Finance, and has prior experience at Bridge Bank, Accord Financial, Capital Business Credit, and Barclays Commercial Corporation.
CIT’s Commercial Services business is a national leader in factoring, credit protection, accounts receivable management and other financial services. Key customers include consumer products manufacturers, dealers, retailers and resellers in a range of industries, such as apparel, footwear, furniture, technology and more.
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of Dec. 31, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com.
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