CIT Group announced that the Industrial group within its Equipment Finance business has provided about $4.4 million in financing toward the acquisition of multiple pieces of heavy equipment.

The equipment consists primarily of yard loaders and articulated dump trucks, which the client is using to upgrade its fleet of heavy equipment.

“We were pleased to finance this acquisition of new equipment, which will help our client grow their business and better support their own clients,” said Mike Jones, president of CIT’s Business Capital division, which includes equipment financing.

CIT’s Equipment Finance business works with manufacturers, distributors, resellers, dealers and systems integrators to finance their equipment, software and services to commercial customers. Its Industrial group maintains a special focus on the financing of construction and industrial equipment.

Equipment Finance is part of CIT's Business Capital division, which empowers small and mid-size businesses by providing equipment financing solutions via technology-enabled platforms and market leading structuring expertise.