Huntington National Bank Supports Over 7,300 Small Businesses with Record $1.3 Billion Infusion into the Economy

Huntington National Bank, the nation’s largest originator of Small Business Administration (SBA) 7(a) loans by volume, has achieved a remarkable milestone by infusing over $1.3 billion into the economy and supporting more than 7,300 small businesses. This record-breaking accomplishment marks the sixth consecutive year that Huntington has secured the top spot as the leading lender in this category.

Brant Standridge, President of Consumer and Regional Banking at Huntington, expressed his pride in the bank’s ability to assist numerous small businesses. He credited the bank’s dedicated employees for prioritizing customer satisfaction and providing comprehensive services to help businesses thrive. By equipping small business owners with the necessary knowledge and resources, Huntington aims to ensure their success in the present and future.

Huntington’s position as the top lender is a result of its strategic expansion of the SBA 7(a) lending program nationwide. Recognizing the significant impact small businesses have on local economies and communities, Huntington has made a deliberate effort to invest in its SBA program. The bank aims to support more small businesses within its 11-state footprint and beyond.

The breakdown of small businesses supported by Huntington through SBA lending in each state within its footprint during the 2023 fiscal year is as follows:

– Ohio: 2,341 businesses with a loan volume of $327,153,600
– Michigan: 1,399 businesses with a loan volume of $201,839,000
– Illinois: 534 businesses with a loan volume of $96,116,500
– Indiana: 315 businesses with a loan volume of $58,025,500
– Pennsylvania: 324 businesses with a loan volume of $62,386,300
– Kentucky: 63 businesses with a loan volume of $13,066,300
– West Virginia: 79 businesses with a loan volume of $13,363,000
– Wisconsin: 56 businesses with a loan volume of $13,553,000
– Minnesota: 144 businesses with a loan volume of $28,125,000
– Colorado: 227 businesses with a loan volume of $54,302,600
– Florida: 296 businesses with a loan volume of $88,133,700
– All Other States: 1,547 businesses with a loan volume of $415,710,700

In addition to its national ranking, Huntington holds the top position as the largest originator of SBA 7(a) loans, both in volume and dollar amount, in multiple states within its footprint, including Ohio, Michigan, Indiana, Pennsylvania, Kentucky, and West Virginia.

Huntington’s commitment to supporting small businesses extends beyond its lending program. The bank’s Lift Local Business program, launched in 2020, provides loans, business planning support, free financial courses through Operation HOPE, and other services to woman-, minority-, and veteran-owned businesses. Since its inception, the Lift Local Business program has provided $77 million in funding to over 1,100 small businesses. This initiative is part of Huntington’s $40 billion Strategic Community Plan, which includes a $2 billion focus on lending to minority-owned businesses or those operating in predominantly minority communities.

Huntington National Bank’s dedication to strengthening small businesses and the communities they serve is evident through its impressive financial support and comprehensive programs. As the bank continues to invest in its SBA program and expand its reach, it remains committed to empowering small businesses and driving economic growth across the nation.

For more information about Huntington’s SBA program and small business loan services, visit their website at https://www.huntington.com/SmallBusiness/loans/sba-guarantee-business-loans.