Perhaps most similar to GE Capital, CIT Group Inc specialized in commercial lending and financing for small and mid-sized businesses, managing US$45 billion in total assets. In addition to its general corporate finance arm, CIT group offered transportation equipment financial crisis, CIT Group briefly declared chapter 11 in 2009, stemming from extreme losses in its subprime mortgage and student loan portfolios. It subsequently improved its balance
Sheet and reduced debt obligations, refocusing on its commercial lending division by building up its loan and lease accounts and hoping to increase deposit accounts by acquiring already established banks.