Huntington Bank Takes Top Spot Nationally For SBA 7(a) Loan Origination By Volume
10th consecutive year Huntington has led SBA 7(a) loan originations within its footprint.
COLUMBUS, Ohio, Oct. 3, 2018 /PRNewswire/ -- Huntington Bank is the nation's largest originator, by volume, of Small Business Administration (SBA) 7(a) loans at the close of SBA fiscal year 2018. This also marks the 10th year in a row Huntington has been the largest originator, by volume, of SBA 7(a) loans within its footprint.
In total, Huntington's SBA program achieved a 13.8% increase in annual loan originations nationally. Huntington also achieved 14.1% increase in annual loan production within its footprint.
"We believe small businesses are the life blood of our communities. It's important to note that Huntington first gained this SBA loan origination leadership position within our footprint in October of 2008—at the very beginning of recession—when small businesses needed access to capital. These latest SBA results represent our decade-long commitment to strengthening the communities we serve," said Huntington Business Banking Director, Michael Wamsganz.
"SBA loans continue to be a great source of capital for a wide range of businesses, from those looking to get a start, to those focused on expanding their business, to those looking to transition their business to new owners," said Huntington's SBA program director, Maggie Ference. "SBA programs offer great tools for new business owners to support their small business growth and expansion needs."
The SBA 7(a) lending program provides government backing, enabling small business lenders to extend credit to business owners who are not yet able to access conventional bank financing with reduced lender risk. For more information, visit www.huntington.com/SmallBusiness/loans/sba-guarantee-business-loans.
About Huntington
Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $105 billion of assets and a network of 966 branches and 1,848 ATMs across eight Midwestern states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington also provides auto dealer, equipment finance, national settlement and capital market services that extend beyond its core states. Visit huntington.com for more information.
The Huntington National Bank is an Equal Housing Lender and Member FDIC. The Huntington Logo and Huntington® are federally registered service marks of Huntington Bancshares Incorporated.
SOURCE Huntington Bank
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