CIT Announces Expanded, Full-Market Coverage for Restaurant Franchise Finance
June 15 2016 - 8:30AM
Business Wire
- Leveraging its Success in Large and
Small Cap Restaurant Franchise Financing, CIT Has Announced The
Launch of A Mid-Cap Practice
- Matthew Goyette Named Vice President of
Mid-Cap Restaurant Franchise Finance
- Michael Vallorosi Named Managing
Director of Large-Cap Restaurant Franchise Finance
CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of
commercial lending and leasing services, today announced the launch
of a mid-cap restaurant franchise finance practice to complement
its successful large and small restaurant franchise financing
businesses.
“CIT franchise finance has long been recognized as a leading
provider of innovative, customized restaurant and retail financing
and advisory services,” said Steve Solk, President, CIT Business
Capital. “With our expanded coverage model for restaurant franchise
financing, CIT now provides full market coverage financing
solutions for restaurant franchisors and franchisees. We can serve
a wide range of industry clients throughout the life of their
business, regardless of the number of stores a franchisee owns, or
the dollar size or finance structure needed.”
CIT has made two recent appointments to support its growth in
the restaurant franchise financing businesses. Matthew Goyette had
been appointed Vice President, servicing mid-cap restaurant
franchisors and franchisees and Michael Vallorosi was named
Managing Director of the large-cap restaurant industry
practice.
“Matthew has a great reputation in the restaurant franchise
community,” said Solk. “He built strong relationships throughout
his career and we are excited to see our clients benefit from his
finance structuring experience.”
Goyette served as Vice President of major accounts with CIT’s
recently acquired subsidiary, Direct Capital Corporation. He has
over 19 years of experience with the organization and was
instrumental in growing Direct Capital’s franchise finance
division. He holds a degree in Business Administration from the
University of New Hampshire.
Prior to joining CIT, Vallorosi served as Director and Team
Leader of the franchise finance practice at TD Bank, where he led a
loan originations group that provided financing to franchisees and
franchisors of quick service, family, fast casual and casual dining
restaurant chains, as well as independent restaurant chains. He
holds a degree in Business Administration from the State University
of New York at Albany and an MBA in Finance from Fordham
University.
“Michael is a skilled leader with deep experience in the
restaurant and franchise finance sectors,” said Solk. “We look
forward to him driving our efforts to provide senior financing
solutions to larger restaurant chains, as well as supporting
private equity sponsors that own or acquire companies in the
sector.”
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About CIT
Founded in 1908, CIT (NYSE:CIT) is a financial holding company
with more than $65 billion in assets. Its principal bank
subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has
more than $30 billion of deposits and more than $40 billion of
assets. It provides financing, leasing and advisory services
principally to middle market companies across a wide variety of
industries primarily in North America, and equipment financing and
leasing solutions to the transportation sector. It also offers
products and services to consumers through its Internet bank
franchise and a network of retail branches in Southern California,
operating as OneWest Bank, a division of CIT Bank, N.A. cit.com
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CIT MEDIA RELATIONS:Matt Klein, 973-597-2020Director,
Media RelationsMatt.Klein@cit.comorCIT INVESTOR
RELATIONS:Barbara Callahan, 973-740-5058Senior Vice
PresidentBarbara.Callahan@cit.com
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