COLUMBUS, OH (FOX19) - For the third consecutive year, Midwest-concentrated Huntington Bancshares is the nation's third largest lender in number of 7(a) loans according to the U.S. Small Business Administration (SBA).
During fiscal year 2013, Huntington increased its number of loans by 20 percent.
"SBA lending is a core strategy for Huntington," said Huntington Business Banking Director Deborah Stein.
"Small businesses are the backbone of our economy because they create 66 percent of new jobs. There are an overwhelming number of businesses that can benefit from an SBA loan. Every year we find new and better ways to help business owners learn how to effectively use the program to grow their businesses," said Stein.
Huntington is the number-one lender in the Midwest, with seven times the loans and dollars lent than any other financial services provider, with 3,062 7(a) loans totaling $465 million.
Huntington's lending activity included:
- Indiana: 240 loans totaling $45 million
- Kentucky: 45 loans totaling $5 million
- Michigan: 787 loans totaling $162 million
- Ohio: 1,750 loans totaling $204 million
- Western Pennsylvania: 150 loans totaling $25 million
- West Virginia: 77 loans totaling $20 million