Days after emergence from Chapter 11 bankruptcy, CIT Group Inc. said today it has taken the first step in its $500 million commitment to small businesses by waiving its $1,000 fee on SBA 7(a) loan applications.


The $1,000 packaging fee waiver on approved SBA 7(s) loans is effective immediately through March 10, 2010, CIT said. The company previously said it will commit $500 million to support its small business lending group to fund the SBA's 7(a) and 504 lending programs, as well as $1 billion in funding for its vendor financing operating segmentCIT emerged from Chapter 11 bankruptcy Dec. 10

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.