• Asset-based Debt Solutions

    Flexible asset-based financing and debt solutions beyond those typically provided by traditional banks.
  • CIT Northbridge Credit

    CIT Northbridge Credit (“CIT Northbridge”) is designed to be a trusted financial partner, delivering a broad range of flexible asset-based debt solutions, tailored with knowledge and expertise to support middle-market companies. CIT Northbridge provides senior secured asset-based financing solutions to address the financing needs of our clients as an alternative lender to traditional banks. Revolving- and Term-Loan commitments to middle-market companies across various industries and business cycles may range from $15 million to $150 million.  

    Products & Services:

    Manufacturing CIT Northbridge provides asset-based financing solutions to address the following needs of our clients:
    • Acquisition financing  
    • Bridge financing 
    • Debt restructuring 
    • DIP Financing
    • Growth capital 
    • Management buyouts 
    • Recapitalizations 
    • Restructurings 
    • Turnarounds 
    • Working capital

    Key Areas of Focus:Construction

    • Asset-based revolving lines of credit and term-loans
    • Asset-based stretch hybrid structures 
    • Delayed-draw capital expenditure loans 
    • Capital markets advisory services 

  • Additional Product Details:

    • Revolvers may include advancing on accounts receivable, inventory, intangible and certain fixed assets
    • Term-loans may include advancing on machinery and equipment and real estate
    • Automotive
    • Consumer products
    • Equipment rental
    • Food products
    • Metals
    • Paper
    • Plastics
    • Staffing
    • Trucking
    • Distributors 
    • Manufacturers
    • Retailers
    • Service providers
    • Wholesalers
    • Agent
    • Club participant
    • Co-lender
    • Sole lender
  • CIT Northbridge Credit is a joint venture between CIT Bank and Allstate, launched in July 2017. The joint venture leverages CIT’s extensive experience in financing, leasing and advisory services as a middle-market bank and Allstate’s investment expertise.

    About CIT

    Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of March 31, 2018. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. 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.

    About Allstate and the Investments Team

    The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, protecting approximately 16 million households from life’s uncertainties through auto, home, life and other insurance. Its investments team manages over $80 billion of the Allstate companies’ investments and has decades of experience pursuing strategies in a broad array of asset classes and geographies in both the public and private markets. For more information on the company’s investments focus, visit www.allstateinvestments.com.