CIT Northbridge announced that it has provided a $70 million revolving line of credit to a U.S based packaging production company. The financing will be used to support the company’s working capital needs as it continues to deliver flexible packaging solutions for premier consumer brands.

"At CIT Northbridge, we are committed to providing flexible financial solutions to help companies grow and scale their business," said Neal Legan, Business Leader, CIT Northbridge. "We are excited to extend this financing and support the company as it continues to strengthen its market position and execute its long-term business objectives.”

CIT Northbridge is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by First Citizens Institutional Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender.