Huntington
infuses a record of more than $1.3
billion into the economy by supporting over 7,300 small
businesses
COLUMBUS, Ohio, Oct. 6, 2023
/PRNewswire/ -- The Huntington National Bank continues to
demonstrate its commitment to small businesses and the communities
they call home as the nation's largest originator, by volume, of
Small Business Administration (SBA) 7(a) loans for the sixth
consecutive year. The designation marks a record year for
Huntington, surpassing
$1.3 billion in SBA 7(a) loans and
helping more than 7,300 small businesses. This is also the 15th
year in a row Huntington has been
the largest originator, by volume and dollar amount, of SBA 7(a)
loans within its 11-state footprint.
"At Huntington, we believe small business is big business, and
we're immensely proud of the number of small businesses we've been
able to help," said Brant Standridge, President of Consumer
and Regional Banking. "This recognition is a credit to our
colleagues, who continue to put people first and keep our customers
at the center of all we do. By bringing the full-service
capabilities of the bank to our small business customers, we're
arming them with the knowledge and resources they need to be
successful for today and as their businesses grow."
This designation as top lender follows the 2022 expansion of
Huntington's SBA 7(a) lending
program throughout the U.S.
"We've purposefully taken the opportunity to grow our SBA
program within our footprint and nationwide," said Maggie Ference, Huntington's SBA Director. "We understand the
tremendous impact small businesses have on communities and local
economies, and we recognize the importance of our role in
supporting these business owners. We're continuing to invest in our
SBA program, so we can help more small businesses start, grow and
prosper within our footprint and beyond."
The number of small businesses Huntington supported through SBA lending in
each of its footprint states and nationally through the 2023 fiscal
year1 includes:
Huntington Footprint States
|
Loan Volume (Total)
|
Loan Amount (Total)
|
Huntington
|
Top Competitor
Total
(other than
HBAN)
|
Huntington
|
Top Competitor
Total
(other than
HBAN)
|
OHIO
|
2,341
|
169
|
$327,153,600
|
$49,709,900
|
MICHIGAN
|
1,399
|
80
|
$201,839,000
|
$47,901,000
|
ILLINOIS
|
534
|
131
|
$96,116,500
|
$138,557,000
|
INDIANA
|
315
|
100
|
$58,025,500
|
$31,031,000
|
PENNSYLVANIA
|
324
|
304
|
$62,386,300
|
$54,627,000
|
KENTUCKY
|
63
|
45
|
$13,066,300
|
$16,700,200
|
WEST
VIRGINIA
|
79
|
12
|
$13,363,000
|
$6,100,000
|
WISCONSIN
|
56
|
70
|
$13,553,000
|
$31,966,300
|
MINNESOTA
|
144
|
190
|
$28,125,000
|
$41,358,200
|
COLORADO
|
227
|
121
|
$54,302,600
|
$93,750,500
|
FLORIDA
|
296
|
825
|
$88,133,700
|
$112,752,900
|
All Other
States
|
1,547
|
|
$415,710,700
|
|
Huntington National
Total
|
7,325
|
|
$1,371,775,200
|
|
In addition to its national ranking, Huntington is the largest originator, by
volume and dollar amount, in multiple states in its footprint,
including Ohio, Michigan, Indiana, Pennsylvania, Kentucky and West
Virginia.
As a complement to its suite of small business loan services,
which includes SBA 7(a) loans, SBA express loans, and 504 loans,
Huntington also supports small
businesses and invests in its communities through its Lift Local
Business program. Designed for woman-, minority-, and veteran-owned
businesses, the program provides loans, business planning support,
free financial courses through Operation HOPE, and other services
to help small business owners through every stage of the business
life cycle — from start-up to expansion.
Since launching in 2020, the Lift Local Business program has
provided $77 million in funding to
more than 1,100 small businesses. The program is part of
Huntington's $40 billion Strategic Community Plan, which
includes a $2 billion focus on
lending to minority-owned businesses or businesses operating in
largely minority communities. Lift Local Business is just another
way Huntington is reinforcing its
commitment to strengthening small businesses and the communities
they call home.
For more information about Huntington's SBA program and small business
loan services, visit
https://www.huntington.com/SmallBusiness/loans/sba-guarantee-business-loans.
About Huntington
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a
$189 billion asset regional bank
holding company headquartered in Columbus, Ohio. Founded in 1866, The
Huntington National Bank and its affiliates provide consumers,
small and middle–market businesses, corporations, municipalities,
and other organizations with a comprehensive suite of banking,
payments, wealth management, and risk management products and
services. Huntington operates more
than 1,000 branches in 11 states, with certain businesses operating
in extended geographies. Visit Huntington.com for more
information.
¹SBA loans subject to SBA eligibility. Huntington is the nation's largest originator,
by volume, of SBA 7(a) loans from Oct. 1,
2022 to Sept. 30, 2023.
Source: U.S. Small Business Administration (SBA)
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