CIT Group, Inc. provides financing and leasing capital for companies worldwide. It operates in five segments: Specialty Finance Commercial, Specialty Finance Consumer, Commercial Finance, Equipment Finance, and Capital Finance. The Specialty Finance Commercial segment offers vendor programs, small-ticket commercial lending and leasing, U.S. small business administration loans, and liquidation of manufactured housing assets. The Specialty Finance Consumer segment provides home lending and other loans, including student lending products that are primarily U.S. government guaranteed. The Commercial Finance segment offers mid-to large-ticket asset-based and enterprise value lending, and factoring. The Equipment Finance segment provides diversified middle market equipment lending and leasing. The Capital Finance segment offers commercial aircraft, rail and other large-ticket equipment finance leasing and lending, project finance, and advisory services. The company serves small, midsize, and larger companies in manufacturing, retailing, transportation, aerospace, construction, technology, communication, and various service-related industries. It operates primarily in North America, with locations in Europe, Latin America, Australia, and the Asia-Pacific region. The company was founded as Commercial Credit and Investment Company by Henry Ittleson in 1908 and changed its name to CIT Group, Inc. in 1915. CIT Group is based in New York City.
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