Finder may earn compensation from partners, but editorial opinions are our own. Advertiser Disclosure

Huntington National Bank SBA loans review

Apply for a 7(a), Express or 504 loan through this regional lender.

  • Best for business owners in the Midwest looking for government-backed financing.
  • Pick something else if you want fast access to working capital.
No reviews yet. Write a review

Details

Min. Amount$5,000
Max. Amount$5,000,000
Loan TermUp to 300 months
APRVaries
RequirementsMeet the SBA requirements for a government-backed loan

First, do I qualify?

Huntington National Bank doesn’t disclose any specific requirements for its SBA loans. However, you’ll have to meet the SBA’s general requirements, which includes meeting its size standards for small businesses, working in an eligible industry and operating as a for-profit enterprise.

What states are Huntington National Bank SBA loans available in?

Huntington National Bank has SBA loan specialists in the following states:

  • Florida
  • Illinois
  • Indiana
  • Kentucky
  • Michigan
  • Ohio
  • Pennsylvania
  • West Virginia
  • Wisconsin

What makes Huntington National Bank SBA loans unique?

Huntington National Bank offers a wider range of SBA loans than you might find with other lenders, including SBA 7(a), Express and 504 loans. Its high approval rate also means you might have a better chance getting approved for a loan — though it might not give out loans as large as some of its other top-ranking competitors.

Huntington Community Plan

In August 2020, Huntington National Bank announced a $20 billion plan to increase economic opportunities in the states it serves. This includes a $7.6 billion small business program and a $4.9 billion community lending program. The goal is to provide resources to underserved business populations, such as BIPOC, women and veteran business owners.

Details about the program are not available as of September 2020.

Pros

  • One of the most active SBA lenders in the country
  • Offers SBA 7(a), Express and 504 loans
  • Loans from $5,000 to $5 million

Cons

  • Limited information available online
  • No online application
  • SBA loan specialists aren’t always available during regular business hours
  • Only has branches in nine states

Compare other business loan options

Take a look at even more lenders and compare based on loan amounts, requirements and APRs offered.

Name Product Filter Values Loan amount APR Requirements

Biz2Credit business loans
Finder Rating: 3.75 / 5: ★★★★★

Biz2Credit business loans
$25,000 – $6,000,000
Starting at 5.99%
6+ months in business; $100,000+ monthly revenue; 500+ credit score
Get only the capital you need through secure, prescreened lenders with this highly rated company offering SBA, expansion, working capital and other loans.

OnDeck short-term loans
Finder Rating: 4.6 / 5: ★★★★★

OnDeck short-term loans
$5,000 – $250,000
As low as 35%
600+ personal credit score, 1 year in business, $100,000+ annual revenue, active business checking account
A leading online business lender offering flexible financing at competitive fixed rates.

Fora Financial business loans
Finder Rating: 4.1 / 5: ★★★★★

Fora Financial business loans
$5,000 – $500,000
Varies
6+ months in business, $12,000+ monthly revenue, no open bankruptcies
Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.

Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★

Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.

ROK Financial business loans
Finder Rating: 4.7 / 5: ★★★★★

ROK Financial business loans
$10,000 – $5,000,000
Starting at 6%
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
loading

Compare up to 4 providers

How do I apply?

You can apply for an SBA loan over the phone or in person at your local branch. Either option you choose, it might be best to find an SBA loan specialist near you first. Here’s how to get started:

  1. Go to the Huntington National Bank’s website.
  2. Click Business in the top menu.
  3. Click Borrowing in the main navigation bar and select Find an SBA Specialist.
  4. Scroll down to your state and review the specialists you can apply with.
  5. After choosing a specialist, either call them or send an email to set up an appointment.

What documents do I need to apply?

It depends on the type of loan you apply for and your business’s particular circumstances. SBA loans come with a notoriously long list of documents and forms required, including a detailed list of each owner’s personal assets and criminal histories. You can learn more about what to expect by reading our guide to SBA loan requirements.

How do repayments work?

SBA loans generally come with monthly repayments that are determined by your loan amount, interest rate and term. Check your loan contract to find out when your repayments are due and how much you owe each month.

Ask your SBA loan specialist if it’s possible to set up autopay so you don’t have to take the time for manual payments each month. And if you have any questions or concerns, reach out to customer service as soon as you can.

See how Huntington compares to other SBA lenders with our guide to business loans.

Review by


Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Huntington National Bank is one of the most active Small Business Administration (SBA) lenders in the country and the top bank in the region it serves. It also approves more applications to the 7(a) loan program than most other SBA lenders — on top of offering Express and 504 loans as well.

It might be a good option if your business is located near one of its branches in parts of the Midwest, South and East Coast. But it doesn’t provide much information online about how its loans work. And when we called for more information, we were passed around to a few different representatives and never actually connected with a specialist.

Not sure about Huntington? Compare your other options below.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site