Daily News: October 21, 2014

Fifth Third Extends More Than $8.5B in Q3/14 Credit

Fifth Third Bank announced it extended more than $8.5 billion in new and renewed credit to business customers from July through September 2014. Fifth Third Bank loaned more than $14 billion to businesses throughout its footprint during the first two quarters of 2014.

Companies that received loans from Fifth Third Bank during this time period include

  • Berry Plastics Group, a provider of plastic consumer packaging and engineered materials delivering customized solutions to its customers. Headquartered in Evansville, Indiana, Berry secured a trade finance credit facility to enhance working capital.
  • Central Site Development, a site development company specializing in excavation, underground utilities, sewer, water and reclaimed storm drainage, and road paving for commercial and residential properties. The company based in Lakeland, Florida, secured a revolving line of credit, term loan and demand deposit account (DDA).
  • Iglesia Hispana de Nashville, the largest Hispanic church in Nashville, Tennessee, with more than 3,000 members. Iglesia Hispana de Nashville secured a construction loan to expand its sanctuary.
  • Westplan Investors,a privately held company headquartered in Atlanta that owns more than 8,000 units and a commercial portfolio of approximately 850,000 square feet in metropolitan markets in the southern United States. The company secured a construction loan to develop a 310-unit apartment building project in Atlanta.
  • “This is a small sample of the type of loans we’ve made to help businesses expand, hire new employees or better serve the people of their communities,” said Greg Kosch, EVP and head of the Wholesale Bank for Fifth Third. “Fifth Third has a strong history of lending to qualified borrowers and providing comprehensives solutions to meet the needs of our clients.”