Huntington Earns Two 'Bank of the Year' Awards for Small Business Lending
Huntington recognized for commitment and number of loans made to Ohio small businesses
COLUMBUS, Ohio, March 16, 2011 /PRNewswire/ -- Huntington (Nasdaq: HBAN; www.huntington.com) has been named “Bank of the Year” by two certified Ohio development organizations for its small business lending efforts. The Community Capital Development Corporation (CCDC), the largest certified development company in Ohio honored Huntington with its second consecutive award for completing more SBA 504 loans than any other bank in Central Ohio and Dayton. Additionally, the Ohio Statewide Development Corporation (OSDC) awarded Huntington its highest annual award for making the most SBA 504 loans to small businesses in 2010.
“Huntington has made an aggressive commitment to support small businesses and these awards are an important validation of the time, talent and resources we have devoted to helping our small business customers thrive,” said Steve Rhodes, Huntington’s director of business banking. “This is just the beginning. We are excited about the impact we are making in the Midwest and our goal is to make an even greater impact to help small businesses drive our economy forward.”
Huntington is the fourth largest SBA lender in the country by number of loans and the No. 1 SBA 7(a) lender cumulatively, both in the number of loans made and overall dollar amount of those loans, within its six-state Midwest market. In addition to SBA lending, Huntington utilizes 14 various government-lending programs, to help small businesses, including state and local lending, and agriculture and rural development loan programs.
Huntington is a participating lender in Ohio’s Capital Access Program (CAP), which encourages financial institutions to lend to small businesses, including nonprofits that may not meet conventional underwriting standards that will grow jobs in Ohio. Additionally, Huntington participates in the Regional 166 Direct Loan program, which provides loans for Ohio companies that create and retain jobs in Ohio.
Huntington also began a turnaround loan program in 2010 to help small businesses that had struggled but that were now showing several quarters of profitability and could provide reasonable projections.
“Over the past two years, Huntington has uniquely positioned itself to be the bank for small businesses in the Midwest. We will continue to drive initiatives that support small business growth, working closely with our customers to find ways to offer credit and cost savings,” noted Rhodes. “We are committed to small business because we know these companies are the job-generating engine needed to turn around the Midwest economy and create the opportunities that will continue to build workforce talent and support growth.”
Huntington Bancshares Incorporated is a $54 billion regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, it 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.
Member FDIC. Huntington® is a federally registered service mark of Huntington Bancshares Incorporated. ©2011 Huntington Bancshares Incorporated.
SOURCE Huntington Bancshares Incorporated
Released March 16, 2011