COLUMBUS, Ohio, Oct. 8, 2021 /PRNewswire/ -- Huntington National
Bank (Nasdaq: HBAN; www.huntington.com) is the nation's largest
originator, by volume, of Small Business Administration (SBA) 7(a)
loans for the fourth consecutive year at the close of SBA fiscal
year 2021, further strengthening its position as the leader in
supporting small businesses. This also marks the 13th
year in a row Huntington has been the largest originator, by
volume, of SBA 7(a) loans within its footprint.
The number of businesses Huntington helped through SBA lending
in each footprint state through the 2021 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
|
1,998
|
124
|
$366,344,300
|
$69,216,000
|
MICHIGAN
|
1,118
|
98
|
$230,767,600
|
$88,310,900
|
ILLINOIS
|
355
|
113
|
$77,292,300
|
$128,788,000
|
INDIANA
|
292
|
93
|
$68,666,400
|
$46,413,500
|
WESTERN
PENNSYLVANIA
|
186
|
44
|
$37,005,700
|
$50,926,400
|
FLORIDA
|
90
|
364
|
$39,020,800
|
$165,776,500
|
KENTUCKY
|
72
|
77
|
$21,133,900
|
$25,422,800
|
WEST
VIRGINIA
|
73
|
31
|
$17,728,600
|
$11,167,000
|
WISCONSIN
|
30
|
75
|
$9,969,600
|
$57,581,000
|
This announcement follows Huntington's efforts throughout the
pandemic to support its customers. It processed more than 47,000
Paycheck Protection Program loans across its footprint this year,
for a total of 85,000 since 2020. These loans provided support to
businesses during an extremely difficult time and further
demonstrated the bank's commitment to looking out for people.
"We believe that when small businesses succeed, so do
individuals and communities," explained Steve Rhodes, Huntington's Business Banking
Director. "That's why we are so dedicated to helping small
businesses achieve their goals. In another challenging year for
businesses, we are pleased to have provided our trusted experience
and assistance to so many customers who depend on us."
"The pandemic continues to show the value of the Small Business
Administration and how a wide range of businesses can benefit from
SBA loans," said Huntington's SBA Program Director, Maggie Ference. "We are especially proud this
year to have supported our small businesses with this important
source of capital, while at the same time working side-by-side with
customers to help them access vital Paycheck Protection Program
funds. It's a credit to our entire organization."
Huntington is currently bolstering its Business Banking presence
and teams in Minnesota and
Colorado. Bankers will bring
Huntington's deep expertise and robust products and services to
small businesses in expanded markets added through the TCF
transaction.
Huntington continues to invest in its communities to support
economic inclusion and to help make our customers and our
communities more financially secure in the future. On June 16, the bank announced a new strategy to
tackle social, racial, environmental and economic inequities across
its footprint by committing $40
billion toward its new Community Plan. This includes
expanding its Small Business lending programs into its new
footprint following the merger with TCF Financial Corporation and
committing $10 billion over five
years, of which $2 billion will focus
on lending to minority-owned businesses or businesses operating in
majority-minority communities.
The SBA 7(a) lending program provides government backing,
enabling small business lenders to extend credit to business owners
who are not yet able to access conventional bank financing. For
more information, visit
www.huntington.com/SmallBusiness/loans/sba-guarantee-business-loans.
About Huntington
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a
$175 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 1,100 branches in 12
states, with certain businesses operating in extended geographies.
Visit Huntington.com for more information.
1 Fiscal year is Oct.
1, 2020-Sept. 30, 2021.
Numbers include SBA loans made by TCF Financial in its Michigan market prior to the merger with
Huntington.
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SOURCE Huntington Bancshares Inc.