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Huntington Bank plans $4 billion in small business loans

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Staff Report 11:17 AM Monday, February 15, 2010

Huntington Bank says it plans to lend approximately $360 million to small businesses in the region that includes Dayton and Cincinnati area over the next three years, part of a wider effort to provide capital to small businesses.

The Columbus-based bank plans to loan $4 billion in Kentucky, Indiana, Michigan, Ohio, Pennsylvania and West Virginia, according to a news release. Other efforts by the bank to increase its small-business lending include adding 150 business bankers and offering turnaround loans, according to a news release.

Steve Steinour, Huntington’s top executive, said in a statement the bank wants to help the economy recover by encouraging small-business hiring.

“It’s clear that healthy small businesses foster growth and vitality in the communities they serve,” he said. “We view this commitment as a significant opportunity at this stage of the overall economic recovery.”

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