A good financing program is one of the most important factors in the buying decision, as many customers prefer the ease and efficiencies of financing heavy equipment
NEW YORK — CIT Group Inc. (NYSE: CIT), cit.com, a leading provider of commercial lending and leasing services, today announced a financing relationship between CIT Equipment Finance, a leading provider of equipment financing solutions in the United States, and LiuGong North America (LiuGong), a global leader in the manufacturing of heavy construction equipment. The two companies established a tailored financing and fleet rental program that will offer a cost-effective source of financing to dealers and end-user customers for the full line of LiuGong products and services.
“A good financing program is one of the most important factors in the buying decision, as many customers prefer the ease and efficiencies of financing heavy equipment,” said Nick Small, Managing Director of CIT Equipment Finance. “We are pleased to provide financing solutions for LiuGong and their dealer networks that will help them grow its business in the North American market.”
York Liang, Chairman and President of LiuGong Machinery, North America, said, “Nearly 70 percent of our end-customers adopt financing to purchase equipment. As a global business, we pay attention to financing and rental services in the North American market. We are confident that our tailored financing program with CIT will help provide a one-stop solution for our dealers and customers who are constantly challenged in a competitive market.”
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About LiuGong North America
LiuGong Construction Machinery, N.A., LLC, located in Katy, TX, is a subsidiary of Guangxi LiuGong Machinery Co. LTD headquartered in Liuzhou, China. For more than 57 years, LiuGong has been manufacturing machinery for the heavy construction equipment and material handling industries. Accredited with building China’s first modernized wheel loader, LiuGong has become one of the fastest growing full-line construction equipment companies in the world. We use globally respected systems and suppliers such as Cummins, ZF, Kawasaki and more. With components you recognize, your machine will work for you in any environment.
LiuGong North America is responsible for sales and product support for all LiuGong distributed machines, including the DRESSTA product line and LiuGong forklifts, for North America, Mexico and Central America. LiuGong products are rugged, built with world-class components and easy to maintain, especially in rigorous and isolated environments. www.liugongna.com
For more than 57 years, LiuGong Machinery Corporation has been a leader in China’s construction equipment manufacturing industry. From building the country’s first modern wheel loader, LiuGong has evolved to become one of the fastest growing, global, CE companies in the world, offering a full line of extreme-duty, intuitive machines for construction equipment owners constantly challenged to do more with less. LiuGong delivers opportunity to its employees, quality products and services to its customers, financial success to its investors, and community support in the regions it serves. www.liugong.com
About CIT Equipment Finance
CIT Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies in a wide range of industries. CIT Equipment Finance assists manufacturers and distributors in growing sales, profitability and customer loyalty by providing customized, value-added finance solutions to its commercial customers.
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. 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. cit.com