Once again, the U.S. Small Business Administration (SBA) has recognized Huntington (NASDAQ:
) as the No. 3 lender in the nation for number of SBA 7(a) loans. Huntington continues to deliver on its promise to lend to small businesses throughout the Midwest, a firm commitment made three years ago when it mattered most.
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 2,557 SBA 7(a) loans for a total of $417.43 million for the period from October 1, 2011 through September 30, 2012. Huntington far exceeded its closest market competitors in the Midwest with more than five times the number of loans, and more than four times the dollar volume.
“As we have continued to demonstrate, lending to the small business community in the Midwest is a priority at Huntington, and we remain dedicated to this mission because we believe a strong business foundation makes for resilient Midwest communities and an even healthier U.S. economy,” said Steve Rhodes, Huntington’s director of business banking. “Our commitment to this belief is underscored in the loans we have made and the positive impact those loans have had on our surrounding communities including job growth.”
The new SBA results pinpoint Huntington as the top lender in Ohio and Michigan, in both number of loans and total loan amount, and the top lender in volume and second in loan amount in Indiana, West Virginia, and Western Pennsylvania. Huntington's performance by state:
- Ohio: 1,496 loans with a dollar volume of $223.84 million, No. 1 both in number of loans and dollar amount
- Michigan: 611 loans with a dollar volume of $128.8 million, No. 1 both in number of loans and dollar amount
- Indiana: 222 loans with a dollar volume of $28.42 million, No. 1 in number of loans and No. 2 in dollar amount
- Western Pennsylvania: 128 loans with a dollar volume of $21.1 million, No. 1 in number of loans and No. 2 in dollar amount
- West Virginia: 52 loans with a dollar volume of $9.90 million, No. 1 in number of loans and No. 2 in dollar amount
- Kentucky: 45 loans with a dollar volume of $5.06 million, No. 2 in number of loans and No. 5 in dollar amount
To date, Huntington has now lent more than $3.8 billion to small businesses since February 2010, positioning the bank well ahead of pace in providing $4 billion in financing to small businesses in the Midwest over a three-year period.