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The Small Business Administration (SBA) has once again recognized Huntington (NASDAQ: HBAN; www.huntington.com) as the No. 3 lender in the nation for number of SBA 7(a) loans. Continuing to deliver on its aggressive commitments to lend to small businesses throughout the Midwest, Huntington also remains the No. 1 lender among Midwest states for both the number and dollar amount of SBA 7(a) loans provided to small businesses1.
According to the SBA, Huntington made 2,785 SBA 7(a) loans for a total of $422.9 million during the fiscal year ending Sept. 30, 2011. That’s a 112 percent increase in number of loans and a 98 percent increase in dollar amount over 2010. SBA’s results also show Huntington is the top SBA lender in Ohio, Michigan, Indiana and West Virginia in both number of loans and total loan amount.
“We know small businesses are the engine for economic growth. That’s why we’ve made small business lending such a priority, because we believe in it,” said Steve Rhodes, Huntington’s director of business banking. “Huntington has continued to support small businesses despite the economic climate, and is honored to support our small business customers who are on the front lines of our nation’s economic recovery every day.”
Huntington's performance by state:
Huntington also announced today that it has now lent more than $2.1 billion to small businesses since January 2010, putting the bank well ahead of its goal to provide $4 billion in financing to small businesses in the Midwest over a three-year period.
“We knew this was an aggressive commitment, made at a time when small businesses were hit especially hard with an unstable economy,” Rhodes said. “By investing in small business lending when it mattered most, we’ve been able to help thousands of small business customers. Huntington is dedicated to its communities and will continue to look for ways to support job creation through small business lending to help turn the nation’s economy around.”
Huntington’s pace for small business lending ramped up in the second half of 2010, as the bank completed the hiring of 150 new business bankers. The bank has planned a stepped increase in small business lending through 2012 and beyond.
For more information about Huntington and its small business lending programs, visit https://www.huntington.com or call 1-800-480-2001.
Huntington Bancshares Incorporated is a $53 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 product 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 600 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 New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.
1Huntington is the #1 SBA 7(a) lender in the region made up of Indiana, Kentucky, Ohio, Michigan, West Virginia and Western PA, Source: U.S. Small Business Administration fiscal year, ending September 30, 2011.
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