Daily News: February 9, 2015

Fifth Third Extends Over $8.6B in Q4 Credit

Fifth Third Bank announced it extended more than $8.6 billion in new and renewed credit to business customers from October through December 2014. Fifth Third Bank loaned more than $31 billion to businesses throughout its footprint in 2014.

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

Bluegreen Corporation, a vacation ownership company based in Boca Raton, FL that employs more than 4,500 people. The Bluegreen Vacation Club has more than 180,000 owners with over 60 owned or managed resorts. Bluegreen secured a syndicated credit facility to enhance working capital.

Certified Finishes, a commercial flooring and installation firm headquartered in Atlanta, GA. Certified secured a loan that will be used to grow their business by hiring additional employees and acquiring a commercial building.

Spectra-Tech Manufacturing is an electronics manufacturer and provider of printed circuit board assemblies. Spectra-Tech offers a wide range of services and advanced capabilities from prototypes to low or high volume production of electronic assemblies. Headquartered in Batavia, OH, Spectra-Tech secured a construction loan to expand their manufacturing facility and purchase new equipment.

“Fifth Third has a strong history of lending to qualified borrowers and providing comprehensive solutions to meet the needs of our clients,” said Greg Kosch, executive vice president and head of the Wholesale Bank for Fifth Third. “At Fifth Third Bank, we are helping businesses expand, hire new employees and better serve the people of their communities.”