CIT Small Business Lending Corporation, Nation's #1 SBA Lender; Announces First of Its Kind Partnership With Sunbelt Network

Business Wire, April 2, 2001

Business Editors

LIVINGSTON, N.J.--(BUSINESS WIRE)--April 2, 2001

CIT Small Business Lending Corporation, the nation's number one small business lender and a unit of CIT (NYSE:CIT; TSE:CIT.U), a leading global source for financing and leasing capital, announced a first of its kind agreement aimed at increasing financing accessibility to small business owners with Sunbelt Business Brokers Network, the largest business brokerage firm in the world.

The financing approval process will begin electronically from a Sunbelt broker's initial business listing with CIT immediately commencing its review. If the listing meets CIT's basic loan pre-qualification requirements, a loan pre-qualification can be turned around in 24 to 48 hours. For the right buyer, CIT can offer a flexible loan structure, specifically targeted towards business acquisitions and tailored to a buyer's financial needs.

"This alliance evolved from the need for most prospective business buyers to secure financing, a process that can become a major obstacle to the acquisition of a business," said Chris Lehnes, vice president of Business Development for CIT Small Business Lending. "From the viewpoint of a seller, a pre-qualified loan can make all the difference in closing the deal. The alliance with Sunbelt, a long-time source of loan referrals for CIT, made absolute sense, because it will provide us with a broader base of customers and allow Sunbelt to offer its clients greater and easier access to financing."

"Since banks rarely approve financing for a new buyer, utilizing a business brokerage service can easily simplify the process, especially when working in coordination with a lending association," said Dennis D'Annunzio, Sr., Sunbelt's chief executive officer. "The collaboration with CIT Small Business Lending Corporation, the nation's Number One Small Business Lender; and Sunbelt, the world's largest business brokerage firm, will streamline the financing process, ultimately allowing brokers to assist clients in closing deals more quickly and easily."

About Sunbelt

Leading the way with cutting edge marketing technology, the experience of over twenty years of selling businesses and the continued quest for complete customer satisfaction keeps Sunbelt on top. For more information on the Sunbelt Network, it's broker services or franchises and businesses for sale, visit their Web site at www.sunbeltnetwork.com.

About CIT Small Business Lending Corporation

CIT Small Business Lending Corporation is a unit of CIT. For more information on the financing products and services CIT provides to small business owners, please visit www.smallbizlending.com.

CIT is a leading global source of financing and leasing capital and an advisor to companies in a variety of diverse industries. Managing more than $50 billion in managed assets across a diversified portfolio, CIT is the trusted financial engine empowering many of today's industry leaders and emerging businesses, offering vendor, equipment, commercial, factoring, consumer and structured financing capabilities. Founded in 1908, CIT operates extensively in the United States and Canada with strategic locations in Europe, Latin and South America, and the Pacific Rim. For more information on CIT, visit the Web site at www.cit.com.