COLUMBUS, Ohio -- Huntington Bank and the state of Ohio are joining to provide $1 billion in loans to Ohio businesses struggling amid the credit crunch.
Gov. Ted Strickland and Huntington CEO Stephen Steinour on Wednesday announced the partnership to help small and medium-sized businesses in the manufacturing, industrial and distribution industries.
The Columbus-based Huntington will provide the $1 billion in loans over three years. The program also involves existing state and federal business loan programs.
A medical plastics manufacturer based in Columbus is getting the first loan from the Ohio and Huntington Job Growth Partnership. Larson Medical Products Inc. will receive $100,000.
Strickland says he hopes other banks in Ohio will begin similar programs with the state.
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