Archived scoops - Business

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The CIT bankruptcy is looming large and dark for US business but one company is using it to their advantage by offering financing alternatives for small and medium sized businesses. Wednesday was the busiest day ever for Receivables Exchange with calls from frantic businesses searching for financing.

The threat of CIT bankruptcy was quelled with short-term,last-minute funding from bondholders pledging billions. But midsize and small businesses are still facing the realities of the credit crisis. Many small businesses are re-thinking their relationships with CIT and other large, single sources of financing.