The Huntington National Bank: SBA business acquisition lending record
The Huntington National Bank (home state OH) approved 3,207 SBA 7(a) loans to buy existing businesses since FY2018, totaling $2.5B. The median loan was $409,200. It ranks number 2 of 280 lenders by count and made 6.6% of all SBA acquisition loans nationally.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $139,500 and $1,030,750. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Ohio is the largest state (19% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Full-Service Restaurants is 8% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 39,451 SBA 7(a) loans of any purpose since FY2020, totaling $10B. 68% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 15% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 3.9% charged off, 12% higher than the 3.5% national average.
The Huntington National Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 174 | $143M | $428,000 | |
| FY2019 | 247 | $175M | $467,000 | |
| FY2020 | 179 | $150M | $511,000 | |
| FY2021 | 262 | $262M | $630,000 | |
| FY2022 | 109 | $114M | $550,500 | |
| FY2023 | 89 | $93.9M | $706,000 | |
| FY2024 | 579 | $359M | $325,000 | |
| FY2025 | 808 | $643M | $350,000 | |
| FY2026 | 760 | $610M | $330,000 |
How often do these acquisition loans fail?
Of the 862 The Huntington National Bank acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 34 have been charged off by the SBA, a rate of 3.9% by loan count and 1.3% by dollars. 470 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so The Huntington National Bank is 12% higher than the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Ohio | 603 | 18.8% | $428M | |
| 2 | Michigan | 360 | 11.2% | $247M | |
| 3 | Florida | 332 | 10.4% | $283M | |
| 4 | Texas | 259 | 8.1% | $257M | |
| 5 | Illinois | 202 | 6.3% | $132M | |
| 6 | California | 128 | 4.0% | $95M | |
| 7 | Pennsylvania | 126 | 3.9% | $78M | |
| 8 | Colorado | 116 | 3.6% | $78.2M | |
| 9 | Indiana | 113 | 3.5% | $93.3M | |
| 10 | Minnesota | 80 | 2.5% | $40M | |
| 11 | Georgia | 79 | 2.5% | $76.6M | |
| 12 | Wisconsin | 58 | 1.8% | $49.1M | |
| 13 | North Carolina | 55 | 1.7% | $64.3M | |
| 14 | Tennessee | 50 | 1.6% | $44.2M | |
| 15 | Virginia | 49 | 1.5% | $62.3M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 266 | 8.3% | $122M | |
| 2 | All Other Specialty Trade Contractors | 128 | 4.0% | $135M | |
| 3 | Limited-Service Restaurants | 108 | 3.4% | $52.2M | |
| 4 | Landscaping Services | 84 | 2.6% | $44.9M | |
| 5 | Hotels (except Casino Hotels) and Motels | 64 | 2.0% | $174M | |
| 6 | General Automotive Repair | 62 | 1.9% | $41.5M | |
| 7 | Plumbing, Heating, and Air-Conditioning Contractors | 57 | 1.8% | $52.2M | |
| 8 | All Other Professional, Scientific, and Technical Services | 55 | 1.7% | $38.2M | |
| 9 | Fitness and Recreational Sports Centers | 52 | 1.6% | $17.4M | |
| 10 | Offices of Dentists | 50 | 1.6% | $37.8M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The UPS Store | 54 | 1.7% | $26.2M | |
| 2 | Mosquito Joe | 8 | 0.2% | $3.6M | |
| 3 | Subway | 8 | 0.2% | $3.4M | |
| 4 | Cold Stone Creamery | 8 | 0.2% | $2.7M | |
| 5 | Days Inn | 7 | 0.2% | $17.8M | |
| 6 | Red Roof Inn | 7 | 0.2% | $16.4M | |
| 7 | Play It Again Sports | 7 | 0.2% | $2.3M | |
| 8 | Workout Anytime | 6 | 0.2% | $5.3M | |
| 9 | Crumbl | 6 | 0.2% | $2.7M | |
| 10 | Menchie's | 6 | 0.2% | $1.5M |
Questions buyers ask
Does The Huntington National Bank make SBA acquisition loans?
Yes. The Huntington National Bank approved 3,207 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 2 of 280 lenders with 25 or more such loans. The SBA file shows past approvals only; it cannot tell you whether the lender will approve a particular buyer or deal.
How large are The Huntington National Bank's acquisition loans?
The median was $409,200, with the middle half between $139,500 and $1,030,750. The national median is $645,250, so this lender's typical loan is 37% lower than the national figure.
Which states does The Huntington National Bank lend in?
Ohio (603), Michigan (360), Florida (332), Texas (259), Illinois (202), California (128). Its loans span at least 15 states.
Which industries does The Huntington National Bank finance?
Full-Service Restaurants (266), All Other Specialty Trade Contractors (128), Limited-Service Restaurants (108), Landscaping Services (84), Hotels (except Casino Hotels) and Motels (64). The top industry is 8% of its acquisition loans.
How have The Huntington National Bank's acquisition loans performed?
Of 862 loans approved FY2018 to FY2021: 3.9% charged off, 12% higher than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
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Related
- Ohio acquisitions
- Michigan acquisitions
- Florida acquisitions
- Full-Service Restaurants
- All Other Specialty Trade Contractors
- Limited-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by The Huntington National Bank.