Huntington Bank is Nation's Top SBA 7(a) Lender by Volume for Seventh Consecutive Year

Oct 09 2024 14:00 BST

Achieving a record year, Huntington empowers more than 7,500 entrepreneurs with unmatched expertise, service and support

COLUMBUS, Ohio , Oct. 9, 2024 /PRNewswire/ -- For the seventh consecutive year, the Huntington National Bank is the nation's largest originator, by volume, of Small Business Administration (SBA) 7(a) loans. This designation marks another record year for Huntington, surpassing $1.5 billion in SBA 7(a) loans and supporting more than 7,500 small businesses.

"This recognition reflects the trust our valued customers have in Huntington, and the unmatched expertise, service and support our colleagues provide," said Brant Standridge, President of Consumer and Regional Banking. "Together, we are making a meaningful impact in our communities and local economies."

Huntington continues to grow its SBA program both within its retail footprint and across the country. In addition to its national ranking, the bank is the largest originator of SBA 7(a) loans by volume in Colorado, Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, Texas, and West Virginia.

"Huntington's small business offerings are a true differentiator for the bank. Our unique approach to serving customers extends well beyond access to capital. We care for them throughout their entire business growth lifecycle, providing advice and guidance to ensure these businesses have the resources and support they need to thrive," said Maggie Ference, Huntington's Small Business and SBA Director. "We continue to invest in our SBA program so we can help empower even more small businesses to start, grow and prosper."

The number of small businesses Huntington supported through SBA lending across its retail footprint and nationally through the 2024 fiscal year (Oct. 1, 2023-Sept. 30, 2024) includes:

	Loan Volume (Total)		Loan Amount (Total)
Huntington Footprint States	Huntington	Top Competitor Total (other than HBAN)	Huntington	Top Competitor Total (other than HBAN)
OHIO	2,283	153	$337,296,500	$59,989,500
MICHIGAN	1,385	85	$191,740,500	$55,340,300
ILLINOIS	655	166	$101,063,300	$119,626,800
INDIANA	331	68	$60,183,800	$38,021,700
PENNSYLVANIA	368	297	$57,119,500	$73,727,500
KENTUCKY	63	53	$14,252,500	$31,186,700
WEST VIRGINIA	100	14	$19,681,700	$9,183,000
WISCONSIN	69	117	$14,527,600	$47,627,500
MINNESOTA	186	230	$40,201,500	$50,581,600
COLORADO	277	149	$72,401,700	$91,456,000
FLORIDA	239	757	$83,865,700	$275,952,100
TEXAS	367	340	$121,658,600	$243,482,300
NORTH CAROLINA	83	113	$27,381,200	$105,863,700
SOUTH CAROLINA	50	155	$17,527,900	$36,306,700
All Other States	1,121		$371,162,700
Huntington National Total	7,577		$1,530,064,700

Source: U.S. Small Business Association (SBA)

Huntington understands the unique needs of small businesses. As a complement to access to capital through its suite of small business loan services, the bank offers a comprehensive suite of deposit accounts, merchant services, credit card offerings, treasury management, insurance and financial education services that cater to the specific needs of small businesses. Huntington also helps bridge the gap for historically underserved populations through its Lift Local Business program, which was designed to support minority-, woman-, and veteran-owned small businesses throughout the business life cycle, from start-up to expansion.

Since launching in 2020, the Lift Local Business program has provided $133 million in funding to more than 1,875 small businesses. The program is part of Huntington's $40 billion Strategic Community Plan, which includes a $2 billion focus on lending to minority-owned businesses or businesses operating in largely minority communities. Lift Local Business is just another way Huntington is reinforcing its commitment to strengthening small businesses and the communities they call home.

For more information about Huntington's SBA program and small business loan services, visit https://www.huntington.com/SmallBusiness/loans/sba-guarantee-business-loans. SBA loans subject to SBA eligibility.

About Huntington

Huntington Bancshares Incorporated is a $196 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 approximately 970 branches in 11 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

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SOURCE Huntington National Bank