DETROIT ? The U.S. Small Business Administration’s Michigan District Office presented its fiscal 2010 lender awards at SBA’s 2011 Small Business Lending Conference held in Lansing Friday where Huntington National Bank was named Michigan Lender of the Year, SBA’s award for the best overall performance, for the second time in a row.
Huntington National Bank approved 262 SBA loans worth more than $52.7 million in fiscal 2010.
?Although it was difficult to select only one lender, Huntington National Bank did an excellent job of using our loan programs in a difficult year,? said Allen P. Cook, SBA Michigan Acting District Director. ?Huntington National Bank also received awards for being the SBAExpress and PLP Lenders of the Year.? Other award winners included:
SBAExpress Lender of the Year ? Huntington National Bank
Award for the lender which had the most SBAExpress loans. Huntington National Bank approved 207 SBAExpress loans. Huntington National Bank has won this award for the last two years.
PLP Lenders of the Year ? Citizens Bank & Huntington National Bank (tie)
The most loans approved by a preferred lender, which enjoy full delegation of lending authority. Both banks approved 52 PLP loans. This is the third year in a row that Citizens Bank has won this award.
Business Development Lender of the Year ? Chase
Award for the lender which did at least 10 SBA deals in fiscal 2010 and had the largest percentage increase of approvals. Chase?s loans jumped from 50 in fiscal 2009 to 150 in fiscal 2010, an increase of 200 percent.
Community Lender of the Year ? Lake Michigan Financial Corporation (The Bank of Holland & The Bank of Northern Michigan).
Best overall performance among Michigan-based, non-PLP lenders. Criteria include total volume, new market activity, and comparison with historical performance. Lake Michigan Financial Corporation is the holding company for The Bank of Holland and The Bank of Northern Michigan. The two banks approved 45 SBA loans for more than $13 million.
504 Lender of the Year ? Chase
In recognition of the best overall support of SBA?s 504 loan program. Chase supported 20 504 deals for over $14.4 million last year. This is the second year in a row that Chase Bank has won this award.
New Markets Lender of the Year ? Chase
Best overall performance in supporting new markets businesses (minorities, women, and veterans), including the percentage of Chase?s SBA loans that went to new markets, its support for the full diversity of the population, and its sponsorship of the Black Business Conference in fiscal 2010. This is the third year in a row that Chase has won this award.
In fiscal 2010, the Michigan District Office guaranteed 1,721 loans worth more than $482 million. Over the past three years SBA has provided guaranties on 5,186 loans worth over $1.2 billion to small businesses in Michigan. ?I want to thank all of SBA?s participating lenders for their outstanding support of our loan programs,? said Cook.
a>>
