CIT bankruptcy leaves small businesses in bind

11/1/2009 | Reuters · CNNMoney

More than a million business owners may have to find new lenders after CIT Group filed for bankruptcy protection on Sunday. CIT is one of the leading small-business lenders in the U.S., plus the top provider of factoring. Other lenders might normally be willing to take up the slack from CIT, but after months of recession, "there's not enough capacity out there," says one bankruptcy lawyer.

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Reuters · CNNMoney

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