Learn how CIT business loans help small businesses in the U.S. grow. Discover loan types, rates, benefits, and how to apply in 2025.
Introduction
Running a business requires more than just a great idea — it requires funding. Whether you need capital to buy equipment, manage cash flow, or expand operations, CIT Business Loans can help.
CIT (now a division of First Citizens Bank) has been one of the most trusted lenders for American businesses. The company offers a variety of financing options designed to meet the needs of small, medium, and large businesses across the U.S.
In this article, we’ll explore everything about CIT Business Loans in 2025 — including how they work, what types are available, how to apply, and the benefits for small business owners.
What Is CIT?
CIT Bank, originally known as Commercial Investment Trust, is a financial institution that focuses on commercial lending, equipment financing, and business loans.
In 2022, CIT merged with First Citizens Bank, making it one of the largest commercial lenders in the United States.
CIT is known for its competitive interest rates, fast funding, and tailored financial solutions for industries like:
- Manufacturing
- Healthcare
- Transportation
- Construction
- Retail and eCommerce
Why Choose CIT Business Loans?
CIT offers several key benefits that make it a great choice for U.S. business owners:
✅ Fast approvals and funding (within a few days)
✅ Flexible loan terms for both short-term and long-term needs
✅ Low interest rates compared to online-only lenders
✅ Industry-specific financing options
✅ Trusted lender backed by First Citizens Bank
Types of CIT Business Loans
CIT provides a variety of business financing options to meet different needs. Let’s look at each in detail 👇
1. Equipment Financing
CIT is one of the top equipment lenders in the U.S.
If your business needs new machinery, technology, or vehicles, this program lets you borrow up to 100% of the equipment’s cost.
Key Details:
- Loan Amount: $25,000 – $500,000+
- Terms: 2 to 7 years
- Interest Rate: Starting from 6.5%
- Collateral: The equipment itself
- Funding Time: 1–3 business days
Best for: Construction, manufacturing, healthcare, and logistics businesses.
2. Working Capital Loans
These are short-term loans that help cover daily business expenses, payroll, or inventory purchases.
Loan Amount: $5,000 – $250,000
Term: 6–18 months
Interest Rate: 10%–25%
Funding Time: 24–48 hours
Best for: Businesses needing quick access to cash for operations.
3. SBA Loans (through CIT and First Citizens Bank)
CIT works with the Small Business Administration (SBA) to offer government-backed loans.
These are great for businesses looking for low-interest, long-term financing.
SBA Loan Options:
- SBA 7(a) Loans (for working capital or expansion)
- SBA 504 Loans (for real estate and equipment)
Loan Amount: Up to $5 million
Interest Rate: 5.5%–11%
Term: Up to 25 years
Best for: Established small businesses expanding operations or refinancing debt.
4. Commercial Real Estate Loans
If you’re planning to buy, build, or renovate a property for your business, CIT offers real estate financing with flexible repayment.
Loan Amount: $100,000 – $10 million
Term: Up to 25 years
Interest Rate: 6%–12%
Best for: Businesses purchasing office space, warehouses, or retail locations.
5. Franchise Financing
CIT has a specialized lending program for franchise owners — helping you open, renovate, or expand franchise locations.
Features:
- Up to 100% financing for approved brands
- Streamlined approval process
- Fixed monthly payments
Best for: Restaurant chains, retail, and service-based franchises.
6. Factoring and Accounts Receivable Financing
CIT also provides invoice financing, allowing businesses to get paid faster by using unpaid invoices as collateral.
Loan Amount: Up to 90% of invoice value
Funding Time: 24 hours
Best for: Businesses waiting on client payments.
CIT Loan Requirements
Before applying, make sure your business meets these general qualifications:
✅ Business operating for at least 1 year
✅ Minimum credit score: 620+
✅ Annual revenue: $100,000+
✅ U.S.-based registered business entity (LLC, Corporation, Sole Proprietor)
✅ Valid business bank account
Documents Required
You’ll need:
📄 Business license or registration certificate
📄 Bank statements (last 6 months)
📄 Tax returns (last 2 years)
📄 Financial statements (P&L, balance sheet)
📄 Equipment quote (for equipment financing)
How to Apply for CIT Business Loans
Applying for a CIT business loan is simple and can be done online or in person.
Step-by-Step Application:
- Visit the CIT website or First Citizens Bank’s business section.
- Choose your loan type (e.g., equipment, working capital, or SBA).
- Submit your application with basic business and financial details.
- Upload required documents.
- Wait for approval, usually within 1–3 business days.
- Receive your funds directly in your business bank account.
CIT Loan Rates and Terms (2025 Overview)
| Loan Type | Amount Range | Interest Rate | Term Length | Funding Speed |
|---|---|---|---|---|
| Equipment Financing | $25K–$500K+ | 6.5%–12% | 2–7 years | 1–3 days |
| Working Capital Loan | $5K–$250K | 10%–25% | 6–18 months | 1–2 days |
| SBA 7(a) Loan | Up to $5M | 5.5%–11% | Up to 25 years | 1–4 weeks |
| Real Estate Loan | $100K–$10M | 6%–12% | 10–25 years | 2–4 weeks |
| Franchise Loan | $50K–$500K | 8%–15% | 2–10 years | 3–7 days |
Pros and Cons of CIT Business Loans
✅ Pros
- Multiple loan options
- Low-interest SBA and equipment loans
- Fast approval process
- Excellent reputation and bank backing
- Offers industry-specific financing
❌ Cons
- Requires good credit for best rates
- Not ideal for startups under 1 year
- Some loan types have longer funding times
Industries Served by CIT
CIT provides customized funding solutions for:
🏗 Construction
🚛 Transportation and trucking
🏥 Healthcare and medical equipment
🏭 Manufacturing
🛍 Retail and eCommerce
🍴 Food and Beverage
🏠 Real Estate and property development
CIT Business Loan Alternatives
If you don’t qualify for a CIT loan, here are some trusted alternatives:
| Lender | Best For | Max Loan Amount | Funding Time |
|---|---|---|---|
| BlueVine | Lines of Credit | $250,000 | 24–48 hrs |
| OnDeck | Working Capital | $250,000 | 1–2 days |
| Fundbox | Small Businesses | $150,000 | 1 day |
| Lendio | Compare 75+ Lenders | $5M | 1–7 days |
| National Funding | Equipment & Term Loans | $500,000 | 1–3 days |
Tips to Improve Approval Chances
✅ Maintain a strong credit score
✅ Keep your business bank statements positive
✅ Lower existing debts
✅ Prepare a simple business plan showing how you’ll use the loan
FAQs About CIT Business Loans
1. What credit score do I need for CIT loans?
Most CIT loans require a minimum credit score of 620, but better rates are available for 700+.
2. How long does it take to get approved?
Most loans are approved within 1–3 business days, though SBA loans can take up to 4 weeks.
3. Does CIT offer startup loans?
No, CIT focuses on businesses with at least 1 year of operating history. Startups can explore SBA microloans.
4. Is CIT now part of another bank?
Yes. CIT merged with First Citizens Bank in 2022, but still operates under the CIT brand for business lending.
5. Can I apply online?
Yes. You can apply directly through CIT’s or First Citizens’ official website.
Conclusion
CIT Business Loans provide a powerful, flexible, and trusted way for U.S. small businesses to access financing.
With fast approvals, low-interest rates, and tailored lending programs, CIT stands as one of the best options for business owners in 2025.
Whether you’re expanding operations, buying equipment, or improving cash flow — CIT has the right loan for your business needs.
