CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing, leasing products, and other services to small and middle market businesses. Its products principally include asset based loans; secured lines of credit; operating, finance, and leveraged leases; factoring services; vendor financing; import and export financing; small business loans; acquisition and expansion financing; letters of credit/trade acceptances structuring; debtor-in-possession/turnaround financing; and certificates of deposits. The company’s services primarily comprise financial risk management; asset management and servicing; debt restructuring; credit protection; accounts receivable collection; debt underwriting and syndication; merger and acquisition advisory services; and insurance services. The company provides financing and leasing products to its clients and customers in approximately 30 industries, including transportation, particularly aerospace and rail, manufacturing, and retail in approximately 20 countries. CIT Group Inc. was founded in 1908 and is based in New York, New York. It was formerly a subsidiary of Tyco Capital Ltd.