Huntington exceeds $4 billion in small business lending
Huntington Bank today was expected to surpass its 2010 $4 billion small business lending goal.
More than 24,000 small businesses in six states obtained Huntington loans over the three-year period, with the goal being to help to jump-start hiring in Huntington’s markets. Small businesses create more than 66 percent of all new jobs, according to the bank.
“Huntington was one of the first banks during the economic downturn to commit to increased small business lending,” said Huntington’s president, chairman and CEO Steve Steinour. “We made the commitment after listening to business owners who needed loans to navigate the weak economy, while investing in their businesses’ future growth.
”We also hired more than 150 additional business bankers to work with businesses and take a second look at loan applications to make certain nothing was missed in determining their qualifications for a loan,” Steinour said.
Huntington’s small business loan commitment targeted Midwest states throughout the bank’s service area. Approximately 15,400 businesses in Ohio obtained loans.
Huntington is the largest Small Business Administration SBA 7(a) lender in its markets and third-largest SBA lender in the nation in number of loans.