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Small Business Financing: What are Your Options?

Running a small business takes guts, drive and a dream. But it also takes capital.

Small business owners are used to managing many aspects of a business on their own.  When it comes to matters of budget, however, it can help to have a seasoned team supporting you.

At CIT, we offer small business financing options to solve all kinds of needs. Ready to update your storefront? We can help. Want to take advantage of a bulk inventory discount? No problem. Equipment break unexpectedly? We’ve got a solution.

Let’s dive into the details of the various financing options we offer for small business owners like you.

Equipment financing

There’s nothing worse than when your business’ equipment stops working. Buying a new or used machine or technology can require a large cash payment and drain your funds. We offer equipment financing to break that lump sum into manageable monthly payments.

Apply for up to $500,000 application only with flexible term lengths from 12 to 72 months. Repayment is flexible, with monthly, seasonal and deferred payments available. We won’t leave you waiting – our funding can be completed as quickly as one day after approval. Whether you need construction equipment, a commercial vehicle, technology or some other type of equipment, you can rely on CIT for financing options.

Working capital

Managing cash flow as a small business owner can be stressful. Without enough cash on hand, it’s difficult to keep things running smoothly or make improvements when an unexpected opportunity arises.

A working capital loan can help you access up to $250,000 with funding as fast as the same day you are approved. Our term lengths range from six to 18 months with both daily and weekly repayment options for qualified customers. Your loan can be used for almost any business expense, including equipment or technology, soft costs like inventory, marketing and more.

Franchise financing

Franchisees needn’t worry – simple, fast financing is available for almost any franchise need, too. We work with some of America’s favorite franchise brands for projects ranging from $2,000 to more than $50 million. Our non-SBA loan solutions can be utilized for equipment and technology upgrades, working capital, remodeling, store acquisitions or partner buyouts, property improvements and more.

For projects less than $2 million, franchisees can apply online with our application – which can be completed in as little as three minutes.* Financing needs up to $500,000 can even be funded with the application only. Franchisees with needs greater than $2 million should contact us to discuss getting started.

SBA lending

As an SBA Preferred Lender, we also offer SBA 7(a), SBA 504 and owner-occupied commercial real estate loans. Small businesses can use these for the purchase or refinancing of owner-occupied commercial real estate, financing of equipment, acquisitions, business expansions and working capital.

Our financing solutions empower you to run your business without worrying about your bottom line. Start funding your small business goals with us today.

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