SOURCE: Business Factors

Business Factors

August 11, 2009 06:00 ET

BusinessFactors.com Offers Assistance to CIT Customers Seeking Alternative Sources of Small Business Financing

LOS ANGELES, CA--(Marketwire - August 11, 2009) - After receiving a $2.33 billion bailout from federal officials in December 2008, CIT Group, a bank holding company which provides commercial financing, leasing products, and loans to about a million small and midsize businesses (SMBs), announced earlier this month that its bondholders were pledging billions in short-term financing, prompting many SMBs to seek out alternative sources of business financing.

BusinessFactors.com, a leading accounts receivable factoring company, is reaching out to the hundreds of thousands of SMBs that are currently relying on CIT for financing, as these CIT customers may soon be unable to find alternative financing, and could slide into bankruptcy along with CIT.

"Our main concern is helping CIT customers solve their long-term liquidity concerns, and regain control of their cash flow with our wide range of small business financing and factoring solutions," said Robert Bernfeld of BusinessFactors.com.

As time runs out for CIT, Business Factors can provide valuable alternatives to CIT customers, with many different flexible financing solutions available, including accounts receivable factoring, invoice factoring, credit card factoring, asset based loans, purchase order financing, working capital credit lines, inventory financing, commercial equipment finance and leasing, and business working capital.

"In the current economy we've seen time and time again that there is no financial institution too big to fail," said Bernfeld. "Even if you're not a CIT customer diversifying your sources of business financing is a good idea to avoid the ramifications of other businesses' financial mistakes."

For additional information on factoring solutions from BusinessFactors.com, call 888-234-6663, or visit www.BusinessFactors.com.

About Business Factors:

Business Factors is a business finance company that specializes in providing invoice factoring, accounts receivable financing, equipment loans and leasing, and more to businesses across the US and Canada. They are experts in the business and finance industry, and can help large and small businesses successfully find the best solutions for their growing business capital needs.

Contact Information

  • Contact:
    Robert Bernfeld
    310-543-6808