CIT Commercial & Industrial, Canada is a relationship-focused, asset-based lending operation that combines our proven asset-based lending knowledge, tailored for the Canadian marketplace, with CIBC’s full-service commercial banking capability.
We offer full-service financing solutions for medium to large businesses through all stages of the business cycle for a variety of purposes, including: sales growth, acquisition financing, debt refinancing or restructuring and turnaround financing.
We Maximize Your Potential
CIT Commercial & Industrial, Canada provides flexible financing solutions by leveraging the value of your company’s assets to maximize your borrowing potential. Typically, we provide loans with higher advance rates than traditional bank lenders, but without burdensome financial covenants.
Loan sizes range from $10 million to more than $300 million with significant hold levels and full syndication capabilities for large transactions.
Advance Rates and Terms
Revolving lines of credit
- Up to 90% of eligible accounts receivable
- Up to 70% of eligible inventory
Term loans (provided in addition to revolving line of credit, if necessary)
- Up to 80% of the orderly liquidation value of equipment
- Up to 70% of the fair market value of real property
Financial covenants: if required, financial covenants are minimal.
Terms
- Lines of credit are typically 3 to 5 years
- Term loans are up to 7 years
Industries We Serve
CIT Commercial & Industrial provides financing to a broad range of industries:
- Chemicals
- Financial services
- Food and agribusiness
- Government and contract services
- Manufacturers
- Metals and automotive
- Paper
- Plastics
- Retailers
- Service providers
- Wholesalers and distributors