CIT Group Inc. has been the number one Small Business Administration (SBA) 7(a) lender for nine consecutive years. They have also been the top lender to women, minority and veteran owned small businesses for six consecutive years. CIT has been a lender to roughly one million small and mid-size businesses. Without help from the federal government, CIT could face a very serious challenge to their future that may include bankruptcy.
President Obama should not let that happen for several good reasons.
America's small businesses are responsible for approximately 50 percent of the gross domestic product (GDP). According to the late....