NEW YORK, Feb. 10, 2021 /PRNewswire/ -- CIT Group
Inc. (NYSE: CIT) today announced that its Middle Market
Banking business arranged $10.1
million in financing for construction of a new
owner-occupied office building in Fremont, Nebraska.
The borrower, WLG Fremont LLC, will use the financing to
construct a 54,000-square-foot office building to serve as the new
headquarters for RTG Medical, a veteran-owned healthcare staffing
agency supporting medical facilities nationwide.
In connection with the financing, CIT is also providing a
package of treasury management and capital
markets services. The project is being developed under the
federal New Markets Tax Credit Program with Chase Community
Equity, Chase New Markets Corporation, Hampton Roads Ventures,
Massachusetts Housing Investment Corporation, and Evernorth Rural
Ventures.
"RTG Medical is arguably one of the fastest growing companies in
Fremont, and an outstanding market
and community leader. This catalytic project will help attract and
retain talent in both the Fremont
and neighboring communities for years to come," says Arun Agarwal, CEO of White Lotus Group, manager
of WLG Fremont.
"This facility is a big step forward for RTG Medical," said
Jeremy Guenthner, RTG Medical's
chief operating officer and a stakeholder in WLG Fremont. "We
appreciated CIT's expertise and agility in arranging financing to
help move this project ahead."
"We were pleased to work closely with WLG Fremont and RTG
Medical to understand their requirements and arrange financing to
meet their needs," said Tim
Sullivan, president of CIT's Middle Market Banking business.
"This new office building will support RTG's growth and also
contribute to the local economy."
Middle Market Banking, part of CIT's Commercial
Finance division, delivers a range of financial solutions to
midsize clients through a relationship banking model. The business
offers deposit solutions, loans, treasury services and other
banking products to a wide range of sectors, including professional
business services, education, healthcare and nonprofit
organizations, among others.
About CIT
CIT is a leading national bank focused on
empowering businesses and personal savers with the financial
agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a
financial holding company with over a century of experience and
operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC,
Equal Housing Lender). The company's commercial banking segment
includes commercial financing, community association banking,
middle market banking, equipment and vendor financing, factoring,
railcar financing, treasury and payments services, and capital
markets and asset management. CIT's consumer banking segment
includes a national direct bank and regional branch network.
Discover more at cit.com/about.
MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran@cit.com
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SOURCE CIT Group Inc.