Tag Archive | "CIT"

Small biz loans: Is it really Wells Fargo or nothing?

Small biz loans: Is it really Wells Fargo or nothing?

In the SBA’s new 0-2(b) loan program, eligible small business owners are given a Big Gulp cup, a sheet of cardboard, and a magic marker. Now that CIT has filed for bankruptcy, who’s filling the void that they leave in small business and supply chain financing, since they were the top dogs in both until [...]

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Why CIT matters

Why CIT matters

Where the CIT failure will be felt first . . . In the grand guignol of faltering banks, CIT, which ranks 26th in size, seems little more than a sideshow in the wholesale slaughter of giants like Lehman, Bear Stearns, and WAMU. It’s imminent demise, despite its desperate, last minute loan of $3 billion, however, [...]

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The Roundup July 18 & 19: The Week By The Numbers

The Roundup July 18 & 19: The Week By The Numbers

“Why, oh, why did I pick the BLUE pill?” Zero The amount of further bailout money the Obama Administration made available to CIT this week. CEO Jeff Peak first tried washing Presidential motorcade windshields, but has now taken to standing on a street corner with a cardboard sign. Face it, friends, everything’s over at CIT [...]

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