Huntington Holds Top Spot in Midwest SBA Lending
The U.S. Small Business Administration (SBA) has recognized Huntington as the No. 3 lender in the nation for number of SBA 7(a) loans. In addition to its high national ranking, 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 businesses.
According to the SBA, Huntington made 588 SBA 7(a) loans for a total of $83.5 million for the period from Oct. 1 through December 31, 2011. Huntington outpaced its market competitors with more than four times the number of loans, and more than three times the dollar volume.
SBA’s results also show Huntington as the top lender in Ohio, Michigan and Western Pennsylvania in both number of loans and total loan amount, and the top lender in volume and second in loan amount in Indiana and West Virginia.
“Huntington is dedicated to helping small businesses in our local communities because we recognize their success will help add jobs that contribute to our economic recovery, particularly in the Midwest,” said Steve Rhodes, Huntington’s director of business banking. “Small business lending is a priority at Huntington, and we will remain committed to improving the resources we provide to small businesses each and every year.”
Huntington’s performance by state:
Huntington also announced that it has now lent more than $2.68 billion to small businesses since January 2010, which puts the bank well ahead of its goal to provide $4 billion in financing to small businesses in the Midwest over a three-year period.
“During the economic crisis, Huntington remained focused on investing in small businesses to help kick-start the cycle of credit, spending and growth in the Midwest,” noted Rhodes. “We are proud of our progress against this important three year lending goal made in 2010, when it mattered most. It has meant being able to help literally thousands of local business customers succeed and grow.”