The Small Business Administration (SBA) has once again recognized
Huntington (NASDAQ: HBAN;
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:
Ohio: 1,606 loans, $193.4 million, No. 1 both in number of loans and
Michigan: 612 loans, $128.7 million, No. 1 both in number of loans and
Indiana: 285 loans, $50.9 million, No. 1 both in number of loans and
West Virginia: 72 loans, $8.8 million, No. 1 both in number of loans
and dollar amount
Western Pennsylvania: 126 loans, $25.1 million, No. 1 in number of
loans and No. 2 in dollar amount
Kentucky: 74 loans, $13.6 million, No. 2 in number of loans and No. 3
in dollar amount
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.
Member FDIC. The logo mark and Huntington®
are federally registered service marks of Huntington Bancshares