Huntington Bank Named Nation’s Third Largest SBA Lender for Third Consecutive Year
Lends to approximately 3,000 Midwest businesses to help job creation
COLUMBUS, Ohio--(BUSINESS WIRE)-- For the third consecutive year, Midwest-concentrated Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com) is the nation’s third largest lender in number of 7(a) loans according to the U.S. Small Business Administration (SBA). During fiscal year 2013, Huntington increased its number of loans by 20 percent in its continued commitment to shape a strong business foundation for resilient communities and an even healthier U.S. economy.
“SBA lending is a core strategy for Huntington,” said Huntington Business Banking Director Deborah Stein. “Small businesses are the backbone of our economy because they create 66 percent of new jobs. There are an overwhelming number of businesses that can benefit from an SBA loan. Every year we find new and better ways to help business owners learn how to effectively use the program to grow their businesses.”
Huntington is the number-one lender in the Midwest, with seven times the loans and dollars lent than any other financial services provider, with 3,062 7(a) loans totaling $465 million.1
Huntington’s lending activity included:
- Indiana: 240 loans totaling $45 million
- Kentucky: 45 loans totaling $5 million
- Michigan: 787 loans totaling $162 million
- Ohio: 1,750 loans totaling $204 million
- Western Pennsylvania: 150 loans totaling $25 million
- West Virginia: 77 loans totaling $20 million
Huntington Bancshares Incorporated is a $57 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 products and services. The principal markets for these services are Huntington’s six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 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 more than 1,500 ATMs. Through automotive dealership relationships within its six-state retail banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.
1 Huntington 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, 2013.
The Huntington National Bank, Member FDIC. The logo mark and Huntington® are federally registered service marks of Huntington Bancshares Incorporated.
Michael K. Sherman, 614-480-6114
Source: Huntington Bancshares Incorporated
Released October 30, 2013