A Business Review West Michigan report says that SBA lending in 2011 soared compared to 2010 numbers. Statewide, the loans financed businesses in over 430 industries.
According to excerpts from the story:
U.S. Small Business Administration lending posted strong growth during the past year, with Huntington Bank alone more than doubling the volume of government-backed loans it wrote.
Huntington Bank again led Michigan as the top SBA lender for the 2011 fiscal year that ended Sept. 30. The bank wrote 612 for loans during the year for $128.7 million under the SBA’s primary 7(a) program. That compares to 262 7(a) loans for $52.7 million in FY 2010.
Chase Bank was second with 248 loans at $54.2 million.
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