CIT to finance “extreme duty” construction equipment

CIT Equipment Finance, which provides leasing and equipment loan solutions to small businesses and middle market companies in a wide range of industries, has announced a financing relationship with LiuGong North America (LiuGong), a global leader in the manufacturing of heavy construction equipment.

The two companies have established a tailored financing and fleet rental program designed to offer a cost-effective source of financing to dealers and end-user customers for the full line of LiuGong products and services.

“A good financing program is one of the most important factors in the buying decision, as many customers prefer the ease and efficiencies of financing heavy equipment,” said Nick Small, managing director of CIT Equipment Finance. “We are pleased to provide financing solutions for LiuGong and their dealer networks that will help them grow its business in the North American market.”

LiuGong has specialized in the manufacturing of “extreme-duty” machinery for the heavy construction equipment and material handling industries for more than 57 years, with products designed to be rugged, built with world-class components and easy to maintain, especially in rigorous and isolated environments.

LiuGong North America is responsible for sales and product support for all LiuGong distributed machines, including the DRESSTA product line and LiuGong forklifts, for North America, Mexico and Central America.

York Liang, chairman and president of LiuGong Machinery, North America, said: “Nearly 70% of our end-customers adopt financing to purchase equipment. As a global business, we pay attention to financing and rental services in the North American market. We are confident that our tailored financing program with CIT will help provide a one-stop solution for our dealers and customers who are constantly challenged in a competitive market.”