Friday, February 12, 2016
Current Weather
Loading Current Weather....
Published: Thursday, 4/17/2014 - Updated: 1 year ago

Huntington Bank leads in small business loans


COLUMBUS — Huntington Bank announced it now is the country’s top lender of Small Business Administration loans.

In the first six months of SBA’s fiscal year, which ended March 31, the Columbus bank ranked No. 1 in number of 7(a) loans issued, a considerable feat considering Huntington is the nation’s 33rd-largest bank and operates in only six states.

Since Oct. 1, the bank has made 1,804 of the government-backed loans, including 1,050 loans totaling nearly $119 million in Ohio. The SBA guarantees up to 80 percent of the 7(a) loans, which are made by private lenders. The idea is to reduce the lenders’ risk.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories