• Equipment Finance

    CIT Equipment Finance develops business solutions for small businesses and middle market companies for the acquisition of equipment and value-added services. It creates tailored technology and equipment financing and leasing programs for manufacturers, distributors, resellers, dealers, systems integrators and franchisors that are designed to help them increase their top and bottom line performance. It also acquires finance portfolios in its core markets: technology, office imaging, healthcare, industrial and franchise finance. Through these programs, CIT Equipment Finance provides a variety of financing and value-added services, from invoicing to asset disposition, customized to their customers' needs.

    Products & Services

    • FlexAbilityTM - Flexible Solutions for Selling and Invoicing 
    • Capital and operating leases 
    • Customized financing structures 
    • Collateral or cash flow loans 
    • Discounting programs 
    • Portfolio acquisitions 
    • Refresh programs 
    • Ownership programs 
    • Channel financing 
    • Financing of managed services and cloud solutions 
    • Robust web tools for clients and end user customers
    • Franchise Finance
    • 1:1 Personal services for major account customers

    Key Areas of Focus

    • US commercial customers of all sizes
    • Office Imaging industry (e.g., copiers, printers, scanners, document management systems, managed print services)
    • Technology industry (e.g. computer hardware and peripherals, software, cloud services, managed services)
    • Telecommunication industry (e.g., telephony office systems, telecom industry infrastructure)
    • Healthcare (e.g., medical and laboratory diagnostic equipment, imaging systems, patient monitoring systems, patient archiving and communication systems, electronic health records and other software systems, therapy devices, aesthetic equipment, pharmacy management equipment, dental and veterinary office equipment)
    • Industrial (e.g., construction and power equipment; agricultural machinery and equipment; light industrial equipment; robotics equipment; forklifts and other material handling equipment; food processing, packaging and labeling equipment; transportation vehicles such as over the road tractors and trucks, trailers, utility trucks, emergency vehicles; HVAC installations; fitness or other franchise specific equipment; golf course equipment; water purification; and safes)
  • What is Equipment Financing?

    Watch "The Benefits  of Leasing" to see how CIT partners with vendors to offer their customers customized equipment financing solutions.

  • Vendor Partners turn to CIT Equipment Finance to:

    • Sell more equipment and help increase margin
    • Improve cash flow and liquidity while preserving capital
    • Close sales quickly
    • Establish new relationships and increase customer loyalty
    • Minimize exposure and investment requirements
    • Have a relationship that eliminates the cost and administrative burden of maintaining an in-house leasing operation

    Customers turn to CIT Equipment Finance for:

    • Finance leasing with predictable, low monthly payments
    • Reduced upfront costs and preservation of capital
    • Flexible pay structures
    • Ability to bundle transactions
    • Keep up with changes to technology
    • Potential accounting and tax advantages
  • Resources

    PDFs:

  • Related Content

    Learn how schools use computer leasing to keep up with changing technology. [Fast Facts]
    Chargeback programs can help companies control their document infrastructure. [Article]
    The education space uses computer leasing as a way to manage capital constraints. [Article]

    According to a recent article in Nation's Restaurant News, a robust point-of-sale (POS) system is virtually essential for every modern multi-unit restaurant chain. 

    financing a POS - inline Interactive and intuitive, these valuable tools give everyone from the store manager to the corporate headquarters a unit-level view of the pace of sales, minute-by-minute labor costs and rich detail on which items are selling and which aren't. However, about every five years, POS systems need upgrading, and the steep cost to multi-unit operators leaves some delaying such major expenditures. Here's why… and how a POS financing solution can help move past this hurdle.

    Doug McKenzie, specialty finance leader at CIT Franchise Finance, believes operators may put off upgrading POS systems because such technology isn't a direct customer touch point. He says operators prefer to invest in new lighting, signage and seating that are proven sales boosters, changes customers notice, he adds.

    "If they're not seeing the direct benefit of better P&L management and system controls, [franchisees] may try to delay upgrading," McKenzie says.

    Accepting that it's time to upgrade, operators often search out POS system and equipment financing options. According to Douglas Solomon, vice president of strategic relationships for Direct Capital, a subsidiary of CIT, some lenders partner proactively with franchisors to package approved POS systems and lending options.

    "If the franchisor is doing research on the best POS system for their franchisees, we will team up to build a campaign around that program," Solomon says. Those packages, he adds, are online for franchisees to view at their own discretion. "Whether they need one, two or 20 units, they can quickly apply for financing, take advantage of some established rate structures that we put in place, quickly get feedback … and get the product installed."

    Should an operator consider financing a good option on larger, structured deals where POS systems are a portion of the financing, McKenzie advises borrowers to be prepared to discuss their financial statements as lenders will review both cash flow sufficiency and debt-to-EBITDA ratios. On smaller deals, financing is often very quick and easy, sometimes requiring minimal financial documentation.

    The most obvious pitfall to avoid, he says, is researching POS systems without first consulting the franchisor.

    "Don't make a POS system decision independent of talking to the franchisor," he cautions. "Don't be the franchisee who discovers after spending 500 grand that the franchisor has a new agreement with a POS vendor. I've seen it happen."

    To read the full article, "Financing a POS System Could Be Fiscally Prudent," go to the Knowledge Center on CIT.com. If you enjoyed this blog post, please consider sharing it with your social media networks and invite them to register for our blog alerts.  

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