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Fifth Third Bank Lends Nearly $34 Billion to Businesses in 2012

January 21, 2013, 08:15 AM
Filed Under: Banking News
Related: Fifth Third

Fifth Third Bank announced that it has extended more than $13 billion in new and renewed credit to business customers from October through December 2012. During 2012, Fifth Third Bank lent nearly $34 billion to businesses throughout its footprint.

"Fifth Third is focused on actively listening to our business customers to help address their changing needs," said John Bultema, executive vice president and head of Business Banking for Fifth Third Bank. "We remain committed to providing credit and financial services to help businesses within our footprint expand and create jobs."

Companies who have received loans from Fifth Third Bank during this time period include:

  • Electro Prime Group, LLC, a parts assembly and metal coating company headquartered in Toledo, Ohio. The company received the first United States Small Business Administration (SBA) CAPLines Program loan offered from Fifth Third Bank. This loan will help Electro Prime finance short-term and cyclical working capital needs. Electro Prime also secured an additional SBA loan and treasury management, commercial card and deposit account services from Fifth Third.
  • Kelsey Construction, LLC, a Shepherdsville, Ky. construction company that specializes in industrial, commercial and public projects. The company secured a revolving line of credit, an equipment loan and a commercial card program with Fifth Third Bank to help the business grow market share.
  • Midstate Industrial, Inc., a Kennesaw, Ga.-based company that provides equipment to industrial and healthcare systems serving U.S. and global government entities. The company received a SBA Patriot Express loan from Fifth Third Bank. The loan helped Midstate Industrial access the capital needed for future growth plans. The company also secured merchant services and a treasury management program through the Bank.
  • Schiel School Project, a joint venture between two Cincinnati-based property developers, North American Properties and Uptown Rental Properties. Fifth Third Bank provided a loan to the developers to support the project, which will include mixed use development in the Uptown area of urban Cincinnati.

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