The somewhat expected bankruptcy filing of CIT Group looks set to further reduce credit options for small business.

CIT's factoring business, worth about $42 billion in 2008, is estimated to be at least five times the size of its closest competitor, Wells Fargo & Co, followed by other smaller companies such as GMAC Inc and Rosenthal & Rosenthal. It is not clear if these rivals have enough capacity to take on all of CIT's existing customers.

SEE ALSO: The company's official restructuring site.