Celebrating 25 Years of Serving Small Businesses

by: Lindsay Martin

2 Min. Read

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This year, CIT is celebrating a major anniversary for its Direct Capital business: 2018 marks 25 years of helping small businesses grow and prosper. In that time, we have grown and developed, too. Since our founding in 1993, we’ve provided more than $4 billion in financing for over 100,000 American small businesses across a variety of industries. Our employees are not only passionate about helping our customers succeed - they also have consistently worked to provide a remarkable customer experience. Looking at some of our achievements over the last 25 years gives us great pride, and we have our entire team and customers to thank for that progress. Let’s consider some of the major milestones that have made us who we are today.

1993 – When we were first formed in 1993, Direct Capital was a direct marketing broker of equipment leasing with a dream of one day becoming a lessor. Our business relied on developing relationships with lenders and manufacturers who could help our customers lease the equipment they needed. Even at this early stage, we recognized that we needed to leverage technology to make the financing process more efficient.

1999 – As the century was coming to a close, we created a division that would later become integral to our way of doing business. Our vendor division was launched to support equipment dealers, and over the next several years, we gained a partnership with a major ecommerce marketplace that would help inform our approach to online customer interactions.

2005 – Once we achieved our goal of becoming a direct lessor in 2005, we were able to establish conduit facilities with major banks. Just a few years later in 2009, we were the first financing company to offer an SMB working capital product based on credit card receivables. This was also the year that we developed our core values, which guide our strategy and daily work and also embody our culture.

2011 – At this point, we were able to launch the automation of our credit systems as well as create a new division for management assets. Two years later, we introduced two new products: balance sheet direct loans and net terms financing. We also created a project management group and operations department, and launched a new data warehouse.

2014 - Direct Capital Corporation was acquired in 2014 by CIT Bank, N.A., the nationwide direct bank of CIT Group, and became CIT Direct Capital, the lender you depend on today. In the years after we joined CIT, we invested heavily in our technology, including the launch of an online customer portal and ecommerce application in 2015.

2017 – A major step for our company was the 30 minute true point of sale financing experience for retail that we released in 2017 for a leading technology client. Moving forward, this type of innovation is our top priority to make financing simpler and more convenient for our customers.

Over the years, our business has grown and changed remarkably, and we’re proud to offer expertise and advice that small businesses can trust. The accomplishments of the last 25 years are just the start of our journey, and we’re excited to continue delivering a small business financing experience like no other.

Lindsay Martin is the Copywriter at Direct Capital. Outside of her time composing creative language and policing grammar mistakes, she can be found belting out heartfelt performances to her shower head and/or steering wheel. To share a comment or blog idea, send a note to: lmartin@directcapital.com.

Lindsay Martin

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