Fifth Third Bank Discloses Over $12 Billion Disbursal of Credit In 1Q

Fifth Third Bank

disclosed that it extended over $12 billion in fresh, as well as, renewed credit to business customers. In the whole of the last year, the bank provided loan of $48 billion to businesses. The company listed firms that got the loans from it in the first quarter. For instance, Digital Insurance, the nation's largest benefits-only insurance broker, was specializing in insurance distribution and benefits management for small to mid-sized companies, was one of the beneficiary. The insurance broker received a line of credit to support their acquisition strategy. Fifth Third Bank helped Dry County Brewing Company secure an SBA loan for capital equipment purchases and leasehold improvements. The company stated that funds were used to secure the equipment required to shift their craft beer production to in-house production from a third party manufacturer. Fifth Third Bank provided the Florida based company a revolving line of credit, as well as, term loan to acquire BAMBKO to expand and complement their product lines. The stock traded 0.27% down on Wednesday.