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Huntington's Lift Local Business

Huntington National Bank - Columbus, OH

2022 Community Committment Awards Submission

  • Economic Inclusion
  • Asset Size: Large

Recognizing the barriers to banking for some small businesses, Huntington National Bank has committed to supporting minority-, women- and veteran-owned small businesses as part of its Lift Local Business program. Launched in October 2020, Lift Local Business supports small business owners and entrepreneurs throughout the entire business life cycle — from start-up to expansion. The program offers loans, business planning support, free entrepreneurial training delivered through Operation HOPE, and other services to help small business owners achieve their goals. Eligibility for Huntington's Lift Local Business program: 51% or more of the small business must be owned by individuals identifying as women, veteran, or a minority, or the business address must be within a low-to-moderate or majority minority census tract. Lift Local Business loan features include: - Loan amounts from ,000 to ,000 - Lower business credit score requirements (minimum SBSS of 140) - Up to 10-year repayment terms - Term or draw to term loan structure - Fee Free Business Unlimited Checking account, includes a treasury management product - No SBA or Huntington Bank fees - Free access to entrepreneurial training (,500 value) powered by Operation HOPE Lift Local Business is an SBA 7(a) loan program that provides access to capital to small businesses in historically underbanked communities. This video shows the program's impact: https://players.brightcove.net/1317241590001/default_default/index.html?videoId=6292619877001