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GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Huntington Bank has originated more than $1.5 billion in loans to
businesses around Michigan in the first year of a four-year, $2 billion
program, the bank’s Michigan leaders announced today. The loans have
aided more than 2,500 Michigan businesses.
“The early results of Huntington’s lending initiative and our
partnership with the state are exceeding all expectations,” said Mike
Fezzey, president of Huntington’s Southeast Michigan region. “Businesses
around the state are encouraged by the availability of credit and the
economic growth taking place here.”
Huntington’s lending program is part of an $8 billion public-private
initiative, announced in June 2011 by Michigan Gov. Rick Snyder as part
of the state’s Pure Michigan Business Connect Program.
“Huntington is committed to helping the state economy move forward,”
said Jim Dunlap, president of Huntington’s West Michigan region and
regional and commercial banking director. “We are pleased by the
positive momentum we are seeing throughout Michigan.
“We are delighted to partner alongside Gov. Snyder as we continue to
invest in Michigan,” Dunlap said. “We look forward to continuing to
support sustained economic growth in the state.”
Examples of Michigan businesses, which have obtained loans through the
program include:
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Vintech Industries, a plastic extrusion company in Imlay City, Mich.,
which obtained a loan of $1.1 million for expansion. The company plans
to add 22 workers to the 60 who already work at the company.
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Great Lake Woods Inc., a Holland-based wood product manufacturer,
which obtained a loan for new equipment and is supporting expansion of
its product line. Well-known for its architectural millwork and
mouldings, Great Lake Woods is also focusing on diversification
including window covering and furnishing products. It expects to add
10 new employees to its 100-member workforce.
Earlier this year, Huntington announced a partnership with Meijer that
will increase the number of Huntington branches in the state to over
200—a 65 percent increase. It will also add up to 500 jobs.
Huntington has also rolled out a $100 million affordable housing program
aimed at helping Michigan residents. And last year, it opened a new
branch in downtown Grand Rapids, two branches in downtown Detroit and
one in Pontiac.
For more information on accessing lending through the Pure Michigan
Business Connect Program, business leaders can call 1-888-509-1017,
Monday-Friday from 7:30-6:30 p.m. and Sat. 8:00 a.m. to 5:00 p.m. or
visit www.MichiganAdvantage.org/business-connect.
About Huntington
Huntington Bancshares Incorporated is a $56 billion regional bank
holding company headquartered in Columbus, Ohio. The Huntington National
Bank, founded in 1866, provides full-service commercial, small business,
and consumer banking services; mortgage banking services; treasury
management and foreign exchange services; equipment leasing; wealth and
investment management services; trust services; brokerage services;
customized insurance brokerage and service programs; and other financial
products and services. The principal markets for these services are
Huntington’s six-state banking franchise: Ohio, Michigan, Pennsylvania,
Indiana, West Virginia, and Kentucky. The primary distribution channels
include a banking network of over 660 traditional branches and
convenience branches located in grocery stores and retirement centers,
and through an array of alternative distribution channels including
internet and mobile banking, telephone banking, and over 1,300 ATMs.
Through automotive dealership relationships within its six-state banking
franchise area and selected other Midwest and New England states,
Huntington also provides commercial banking services to the automotive
dealers and retail automobile financing for dealer customers.
The Huntington National Bank, Member FDIC. The logo mark and
Huntington® are federally registered service
marks of Huntington Bancshares Incorporated.
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