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Huntington Takes No. 3 Ranking in Overall Dollar Amount of SBA Lending in U.S.

May 10, 2012, 06:30 AM
Filed Under: SBA Lending News

The U.S. Small Business Administration (SBA) has once again recognized Huntington as the No. 3 lender in the nation for number of SBA 7(a) loans (which the bank had held for five consecutive quarters), and for the first time ever, for overall dollar volume as well.

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 1,235 SBA 7(a) loans for a total of $194.94 million for the period from Oct. 1, 2011 through March 31, 2012. Huntington far outpaced its market competitors with more than five times the number of loans, and more than four times the dollar volume.
“Small business lending is a priority at Huntington, and we remain dedicated to helping small businesses in our local communities because we believe the more successful they are, the stronger our economy will become. And, nowhere is that more true than in the Midwest,” said Steve Rhodes, Huntington’s director of business banking.
SBA’s results also show Huntington as the top lender in Ohio, Michigan and Western Pennsylvania in both number of loans and total loan amount, and the top lender in volume in both Indiana and West Virginia.

Huntington also announced that it has now lent more than $3 billion to small businesses since February 2010, putting the bank well ahead of its goal to provide $4 billion in financing to small businesses in the Midwest over a three-year period.

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