This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Jonathan (Jon) A. Lucas, President Of CIT Trade Finance (Photo: Business Wire

Stocks in this article: CIT

CIT Factoring University ( CITFactoringUniversity.com), a website that offers a comprehensive education-based approach to the financial service known as accounts receivable factoring, today launched “ How to Manage Collections Efficiently.” This is the third in a series of animated videos created to educate small and middle market business owners on how the various aspects of factoring can benefit their business.

Jonathan (Jon) A. Lucas, President of CIT Trade Finance (Photo: Business Wire

Jonathan (Jon) A. Lucas, President of CIT Trade Finance (Photo: Business Wire

“Managing collections efficiently is the lifeline of any business and is critical to the financial success and liquidity of any company,” says Jonathan Lucas, President of CIT Trade Finance. “This 90-second video explains the benefits of outsourcing the accounts receivable management process so companies can spend their valuable time and resources on growing and building their businesses.”

Quite often, business owners feel they are spending an inordinate amount of time tracking customer payments, monitoring customer credit and making uncomfortable collection calls. The problem facing many businesses is that it can take weeks, if not months, to collect payment on shipped goods. These delayed payments can cause a liquidity crunch that could lead a company to miss its own financial obligations, like paying suppliers or employees. As the video demonstrates, one solution is to have a factoring company handle the accounts receivable management process for them.

Additional tutorial videos for business owners on Factoring University include “What is Factoring?” and “ How to Minimize Bad Debt Losses.” Individuals interested can join the discussion about factoring on the Factoring University LinkedIn group.

EDITOR’S NOTE:

Follow us on Twitter: @citgroup, on Facebook: facebook.com/citgroup, and on LinkedIn: LinkedIn.com/company/cit. Individuals interested in receiving corporate news releases can register at cit.com/newsalerts or subscribe to the RSS feed at cit.com/rssfeed

About CIT Factoring University

CIT Factoring University is a Website that offers a comprehensive education-based approach to the financial service known as accounts receivable factoring. The site provides a variety of exclusive content that highlights the benefits of factoring for business owners. Visitors can view testimonial videos that feature executives from consumer product industries who explain why they use factoring and how it benefits their businesses. In addition, CIT Factoring University provides a list of Frequently Asked Questions; infographics that explain the factoring process, business solutions provided by factoring, and more. citfactoringuniversity.com

About CIT

Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $33 billion in finance and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC), BankOnCIT.com, its primary bank subsidiary, which offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50471500&lang=en



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs