Huntington Now Ranks Third in Terms of SBA Loans
COLUMBUS, Ohio — Huntington has moved up one position to become the third most active U.S. Small Business Administration loan provider in the country for the first six months of its fiscal year, according to company officials.
Huntington also remains the most active SBA lender cumulatively, both in the number of loans made and overall dollar amount of those loans within its six-state Midwest service area, the company pointed out.
The financial institution boasts that it outpaced its market competitors with more than three times the number of loans and more than twice the dollar volume.
"Huntington has made a very strong commitment to support small businesses and these rankings validate that we are delivering on that commitment and improving the resources we provide to small businesses each and every year," said Steve Rhodes, Huntington's director of business banking.
"We are so dedicated to helping small businesses because we believe the more successful they are, the stronger our economy will become, and nowhere is that more true than in the Midwest," he added.
According to the SBA, Huntington provided 1,191 SBA loans for a dollar amount of more than $188 million through the first six months ending March 31, 2011.
Huntington's performance by the states it serves is as follows:
—Ohio: 1,136 loans with a dollar volume of $85.8 million
—Michigan: 278 loans with a dollar volume of $58.9 million
—Indiana: 123 loans with a dollar volume of $23.7 million
—West Virginia: 34 loans with a dollar volume of $5.4 million
—Western Pennsylvania: 54 loans with a dollar volume of $8.5 million
—Kentucky: 37 loans with a dollar volume of $5.6 million
In 2010, Huntington lent $1.1 billion to small businesses, meeting the bank's plan to lend $4 billion to small businesses in the Midwest over a three-year period with a stepped increase in small business lending through 2012 and beyond.
Huntington's SBA-enhanced loans can be used by small business owners for real estate, business acquisition or expansion, start-up costs, equipment purchases, working capital and more.
For more information about Huntington and its small business lending programs, visit https://www.huntington.com or call (800) 480-2001.