According to the reports made available from the analysts of Huntington Bancshares Incorporated (NYSE:HBAN), they have mentioned the bank as nation’s third largest lender in the number of 7(a) loans according to the United States of America Small Business Administration which is also known as SBA.
During the fiscal year of 2013, Huntington Bancshares Incorporated increased the number of leans by 20 percent in its continuing commitment in order to shape a strong business foundation for various different resilient communities there by making the United States of economy more stronger and healthier.
The Business Banking Director of Huntington Bancshares Incorporated, Deborah Stein said that the SBA lending is the core strategy for the successful working of Huntington Bancshares Incorporated. Small business organizations are considered to be the back bone of the United States of America economy as they help in creating 66 percent of new jobs for the unemployed people residing in the United States of America. Moreover, there are a large number of overwhelming businesses in the market which can get huge amount of benefits from an SBA loan. Each year there are new and better ways made available with the help of which the business owners can learn how to effectively make use of the program and grow their business.
Huntington Bancshares Incorporated is considered to be the number one leader in the Midwest with seven times the dollars and loans lent than any other kind of financial services provider having 3,062 7(a) totaling around $465 millions.
Some of the leading activities done by Huntington Bancshares Incorporated are providing 45 loans totaling $5 million to Kentucky, 240 loans totaling $45 million to Indiana, 1,750 loans totaling $204 million to Ohio, 787 loans totaling $162 million to Michigan and 150 loans totaling $25 million to Western Pennsylvania.