CIT's bankruptcy filing was no surprise, but it has left small-business borrowers with questions about what will happen when the Chapter 11 protection ends and sent them on a search for other lenders in the meantime. On the positive side, CIT's factoring business is unaffected and the bankruptcy came late enough in the year that it should not affect holiday retailers. "We think we have dodged a bullet," said National Retail Federation's J. Craig Shearman.

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