Huntington Bank Named Fifth Largest SBA Lender in the Country for First Half of Federal Fiscal Year
Small Business Administration also names Huntington top lender in its markets
COLUMBUS, Ohio, April 29 /PRNewswire-FirstCall/ -- The U.S. Small Business Administration has ranked Huntington Bank the fifth most active SBA lender in the country for the first six months of its fiscal year, with 504 loans totaling $105 million. Huntington moved up in the rankings from its No.7 spot at the end of 2009.
Huntington also outpaced its market competitors with twice the number and dollar volume of loans. The second ranked competitors in its markets had 221 loans and $50 million lent.
"These rankings underscore Huntington's increased commitment to small business lending," said Steve Steinour, chairman, president and chief executive officer of Huntington. "Small businesses are the backbone of our economy. At a time when they are continuing to face one of the toughest economic environments in decades, we have stepped up our efforts to help them grow and hire more employees."
In February, Huntington committed to lend $4 billion over the next three years to small businesses in its markets. The first year of the initiative represents a 45% increase over what it lent in 2009.
Huntington's performance by the states it serves is as follows:
-- Ohio: 299 loans with a dollar volume of $54.4 million. -- Michigan: 112 loans with a dollar volume of $31 million -- Indiana: 40 loans with a dollar volume of $7.7 million -- West Virginia: 11 loans with a dollar volume of $800,000 -- Western Pennsylvania: 24 loans with a dollar volume of $6.2 million -- Kentucky: 16 loans with a dollar volume of $4.6 million
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's SBA-guaranteed loan program, visit www.huntington.com.
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $52 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of financial services including checking, loans, savings, insurance and investment services to customers for 144 years. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, telephone bank; and through its network of over 1,300 ATMs.
SOURCE Huntington Bancshares Incorporated
Released April 29, 2010