“The Changing Landscape of Vendor Financing” Featured on CIT’s “5 Minute Capital” Podcast Series

Demand for technology leasing continues to grow as customers look to contain procurement costs and technology manufacturers seek to boost sales according to Ron Arrington, President of Vendor Finance for CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies. This perspective on current vendor finance trends is one of several insights Arrington shares in “The Changing Landscape of Vendor Financing,” the latest installment of CIT’s award-winning “5 Minute Capital” (www.5minutecapital.com) podcast series, which features senior CIT executive commentary on current market conditions and industry trends.

In commenting on the growing interest in technology financing, Arrington notes, “Customers are trying to retain capital and avoid large capital outlays. By using leasing and financing solutions, they can work within their budgetary constraints acquiring technology as an operating expense rather than as a capital outlay. In addition to being able to pay over time, leasing also allows customers to upgrade the equipment during the term of the lease, providing the opportunity to acquire newer technology as it becomes available, resulting in better management of the product life cycle.”

Arrington also explains how technology leasing benefits manufacturers, resellers and distributors aiming to sell equipment in a difficult economic climate and in an increasingly competitive marketplace, “Leasing programs are a huge differentiator for manufacturers selling directly to customers, as well as through resellers. By providing a financial package along with the product, it enables them to go to market with a more effective offering that will provide the customer with flexibility and increased purchasing power.”

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About CIT Vendor Finance

CIT Vendor Finance is a global leader in financing solutions that drive incremental revenues for manufacturers, distributors and product resellers. It provides customized financing solutions to customers in more than 30 countries, supporting a wide variety of industries, including office products, communications and technology.

About CIT

CIT (NYSE: CIT) is a bank holding company with more than $60 billion in finance and leasing assets that provides financial products and advisory services to small and middle market businesses. Operating in more than 50 countries across 30 industries, CIT provides an unparalleled combination of relationship, intellectual, and financial capital to its customers worldwide. CIT maintains leadership positions in small business and middle market lending, retail finance, aerospace, equipment and rail leasing, and vendor finance. Founded in 1908 and headquartered in New York City, CIT is a member of the Fortune 500. www.cit.com