Huntington Bank leads the nation in providing Small Business Administration loans halfway through the SBA’s fiscal year, the bank announced Wednesday.
The 7(a) small business loans are provided to businesses not individuals through the United States Small Business Administration and a private lender like Huntington Bank.
“Small businesses are the foundation of our Main Street economics throughout the United States,” Steve Steinour, chairman, president and CEO of Huntington Bank said in a press release. “These businesses generate two-thirds of all of new jobs and help keep our neighborhoods healthy. Huntington is committed to supporting small business growth as a key way to strengthen our communities are they continue through the economic recovery.”
Huntington has a footprint in six states. In all but one of those states, Huntington was the top SBA loan lender in the number of loans provided and the total monetary volume awarded through loans, according to bank officials.
In West Virginia, Huntington provided 37 loans totaling $7,635,400.
From Oct. 1, 2013 to March 31, 2014, Huntington awarded 1,804 loans other SBA lenders combined made 1,758 loans in Huntington’s service area, officials said.
Huntington bank is 33rd in the country in terms of assets and only makes SBA loans within its six-state footprint, according to the release.