CIT is keeping the operator of Sears department stores and the Kmart discount chain on a tight leash, the sources said, after the company posted 18 straight quarters of sales declines.

Sears is scheduled to report annual results on February 23, when Chairman Edward Lampert typically publishes a letter to shareholders. The hedge fund manager is Sears' largest shareholder and owns directly and through related entities about 59 percent of the retailer.

CIT and other finance companies, known in the industry as factors, provide short-term loans to manufacturers while they are waiting to be paid by those receiving their goods or services. CIT's payables represented less than 5 percent of inventories, Sears has said in the past.