You've been redirected from to In March 2021, Mobile Payments Today became a part of Payments Dive. For the latest payments news, sign up for the daily newsletter.

CIT upgrades POS loan platform for small biz purchases

CIT Group Inc. has released a new version of its real-time, point-of-sale financing platform for small businesses, according to a company press release. The platform, operated through the CIT Small Business Solutions unit, allows businesses to finance equipment and supply purchases of $2,500 or more through a seamless process and also works online and through mobile devices. 

"As digitally enabled sales continue to grow, businesses and their customers expect the same technology experience and service they are accustomed to in other aspects of their life," Denise Menelly, executive vice president and head of technology and operations at CIT, said in the release.

The program allows customers to obtain financing from 12 to 60 months and has automated the process, using e-signatures and integration into e-commerce and customer relationship management platforms.