Huntington Rises to 4th Position in SBA’s Lender List

Written on March 7, 2011 – 5:45 am | by Ashley Johnson

As per the U.S. Small Business Administration’s list of largest lenders in United States, Huntington Bank has gained in prominence and has become the No. 4 bank. The bank has set on target to extend $4 billion to small enterprises in Midwest this year.

Huntington climbed to fourth in the nation in terms of number of loans that commercial lenders have extended to businesses. Cumulatively Huntington is No.1 SBA 7(a) lender. It maintains a prime position in terms of number of loans and lent out dollars. Huntington has become a member of 14 other government –lending programs. This includes local economic development agencies, state agencies and programs concerning rural and agricultural development.

Huntington has hired 150 plus bankers in small business lending space.This is meant to help bank achieve the target of lending loans up-to $1.1 billion to small businesses operating in the US.The recession dilapidated and reduced so many small businesses in size. But when recovery came,Huntington revised its lending facilities and started turning around their loan program so as to help small businesses.

Being a subsidiary of Huntington Bancshares Inc., Huntington has $54 billion assets, a network of 600 full-service offices and 1,300 automated teller machines that are operational in places like Pennsylvania, Michigan, Ohio, Indiana, Kentucky and West Virginia.

Perfect Business!