CIT to Administer SANY America Leasing Program

December 23, 2015 | By Business Wire News

NEW YORK

CIT Group Inc. (NYSE:CIT), cit.com, today announced that CIT Equipment Finance, US, a leading provider of equipment financing solutions in the United States, has entered into a program agreement with SANY America (SANY), a global manufacturer and seller of construction and material-handling equipment. As the preferred provider of financing for SANY, CIT will provide innovative rental fleet and retail financing solutions tailored to the specific needs of SANY’s resellers and customers.

“We’re pleased to have been selected by SANY America to support their growth initiatives,” said Nick Small, Managing Director of CIT Equipment Finance, US. “We look forward to assisting SANY in making it easy and affordable for dealers to acquire equipment for their rental programs and for customers to finance their SANY purchases.”

Eric Teague, Senior Vice President, SANY America, added, “We are excited about our new relationship with CIT. Through their industry knowledge and wide variety of financial products and services, CIT provides a very compelling value proposition for our customers and partners.”

CIT financing programs for customers and resellers are available through SANY local sales contacts. Interested parties should contact their local SANY sales representatives.

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About SANY

SANY is a global leader in the manufacture and sale of hoisting equipment (crawler, truck, rough-terrain and all-terrain cranes), concrete machines (concrete pumps, placing booms, mixer trucks and batching plants), road machinery (motor graders, rollers, pavers and asphalt batching plants), port equipment (container reach stackers, empty-container handlers, heavy forklifts and gantry cranes), excavators, mining equipment (rigid haul trucks, road headers, mining vehicles, longwall systems and continuous miners), pile-driving machinery and wind turbines. SANY America, Inc. sells, distributes and supports crawler cranes from 110 to 550 U.S. tons, rough-terrain cranes from 40 to 85 tons, hydraulic excavators from 1.6 to 36.5 tons, port reach stackers with maximum lift of 99,200 pounds, heavy duty forklifts to 46 tons, and empty-container handlers with maximum load of 19,850 pounds. SANY America has an operations, assembly, and research and development center in Peachtree City, Georgia. sanyamerica.com

About CIT Equipment Finance, US

CIT Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies in a wide range of industries. CIT Equipment Finance, US provides creative financing solutions to our borrowers and lessees, and assists manufacturers and distributors in growing sales, profitability and customer loyalty by providing customized, value-added finance solutions to their commercial customers.

About CIT

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. cit.com