Huntington Bancshares of Columbus, Ohio has announced $360 million in small business loans for Pittsburgh companies over the next three years as part of a major commitment to shower $4 billion in small business loans across the Midwest.
At least 2,500 businesses in Pittsburgh may expect assistance, possibly more, a 45% increase from 2009, says Maureen Brown, spokesperson for Huntington. The bank is the fourth largest Small Business lender in the region.
"We believe it's the key to turning around the Midwestern economy and creating new jobs," says Brown. "We're committed to helping small businesses because we know that in turn this will help keep communities vibrant."
The firm will double the number of business bankers in Pittsburgh, adding 12 to its locations here. A total of 150 business bankers will be added to in markets across the Midwest.
"We are doubling the number of business bankers across the footprint," Brown adds. "We want to be able to get more people on the street to talk to small businesses about what we can do to help them."
Huntington, the 24th largest bank in the country, finished 2009 as the 7th largest SBA lender in the country. The bank also was the top SBA lender in four of the five markets it serves including Michigan, Ohio, West Virginia and Indiana in fiscal year 2009.
Writer:
Debra Diamond SmitSource: Maureen Brown, Huntington Bancshares.
Sign up to receive Pop City each week.