Is Huntington Bank a good match for your SBA loan?
Huntington Bank’s project state SBA 7(a) loan approvals in 2020.
Huntington Bank Highlights
Huntington Bank has provided SBA 7(a) loans for over 30 years. For 2020 YE (Year End) they were the #1 SBA lender for loan approvals and ranked #4 in approval amounts. They are also the #2 SBA lender for loan approvals and #17 in approval amounts for franchise business approvals. For loan amounts up to $350,000 Huntington ranks #1 in 2020 for both loan approvals and approval amounts.
All-time Huntington has approved 54,860 SBA loans for $9,537,824,437. They approved borrowers from 3,141 cities, for projects in 41 states, in 1,030 industries, and for 1,038 franchise brands.
In 2020 Huntington Bank approved 3,208 SBA loans for $522,399,055. The average loan approval amount in 2020 was $162,843. They approved borrowers from 812 cities, for projects in 16 states, in 357 industries, and for 119 franchise brands. Their average loan approval amount to franchise businesses was $230,569 in 2020.
Our forecast model projects Huntington approving $624 million for SBA 7(a) loans in 2021.
Read our SBA Lender page on Huntington Bank for their full report, but below are a few highlights:
Huntington Bank Historical SBA 7(a) Lending
Huntington Bank Loan Approvals
2020 Top 25 Business Industries
Huntington Bank approved the most loans for the General Freight Trucking - Long Distance industry followed by General Freight Trucking - Local industry. 22% of all Huntington Bank’s loan approvals in 2020 were to General Freight Trucking businesses. Huntington Bank approved SBA 7(a) loans for 357 different industries in 2020.
Huntington Bank is focused on smaller loan amounts
Huntington Bank’s average SBA loan approval amount in 2020 was $162,843.
90% of all Huntington Bank approved loans in 2020 were for loan amounts up to $350,000.
77% of all Huntington Bank approved loans in 2020 were for loan amounts up to $150,000.
Less than 3% of Huntington Bank’s approved loans in 2020 were for loan amounts over $1 million.
1% of Huntington Bank’s loan approvals were for multi-million loan amounts.
Huntington Bank is the #1 Ranked National SBA Lender
For 2020 Huntington Bank ranks #1 in number of loan approvals and #2 for approval amounts.
In 2020 Huntington Bank approved 3,208 SBA 7(a) loans for $522,399,055.
Huntington Bank’s average loan approval amount was $162,843.
In 2020 Huntington Bank approved borrowers from 812 cities, for projects in 16 states, in 357 industries, and for 119 franchise brands.
Huntington Bank is the #2 Ranked National SBA Franchise Lender
For franchise branded businesses, Huntington Bank ranks #2 in number of loan approvals and #17 for approval amounts in 2020.
Huntington Bank approved 249 loans for 119 different franchise brands in 2020 for $57,411,700 with an average loan amount of $230,569.
See our full (and free) SBA report on Huntington Bank
This report has about everything a small business owner would want to know to determine if Huntington Bank would be a good match for an SBA loan. See how Huntington Bank ranks in multiple SBA loan categories, our SBA lending forecasts for Huntington Bank, the top 25 industries and franchise brands Huntington Bank approved loans with, the top project states and borrower cities, and more.
