Huntington Bank recognized as one of nation’s best for small business banking
Monday, March 21, 2016
Posted by: Eric Dimoff
Financial research firm Greenwich Associates has once again named Huntington one of the top banks for small businesses nationally and regionally. In all, Huntington received five 2015 Greenwich Excellence Awards for Small Business Banking in its continued commitment to champion business success across the Midwest.
Specifically, Huntington is recognized nationally for excellence in customer “Likelihood to Recommend” and regionally for excellence in “Overall Satisfaction,” “Advice to Help My Business Grow,” “Likelihood to Recommend” and “Cash Management Overall Satisfaction.”
“Small businesses are the lifeblood of our nation’s economy, creating more than 60 percent of all new jobs,” said Scott Wolffis, business banking director at Huntington. “We’re grateful to work with thousands of business owners and entrepreneurs, an increasing number of whom are acquiring businesses, and who work hard each and every day to make our communities healthy and vibrant.”
The number of small businesses listed for sale nationally reached a six-year high in 2015 according to BizBuySell.com. Many entrepreneurs last year looked to Huntington for financing with the help of Small Business Administration (SBA) 7(a) loans, the benefits of which are documented in the SBA Central Ohio Quarterly Report. Huntington ranked second nationally among SBA 7(a) lenders in 2015.
Only 34 banks among more than 600 evaluated in the Greenwich Associates’ study received national and/or regional recognition. Greenwich Associates determined the results based on interviews with more than 16,000 businesses with sales of $1 million to $10 million across the country.
Greenwich Excellence Awards Methodology
Greenwich Excellence Award winners were determined at a national level and in four geographic regions: Midwest, Northeast, South, and West.
To qualify for consideration for the national awards, each winning bank had to have a minimum of 50 clients that responded to the study. To qualify for regional awards, each winning bank had to have a minimum of 30 clients responding in the region. To qualify for mid-corporate national awards, banks had to have a minimum of 30 clients responding to the study.
Greenwich Excellence Award selection is based on top box ratings on Greenwich Associates’ five-point evaluation scale. The banks selected must receive a statistically significant proportion of “Excellent” ratings relative to the overall mean (at a 95 percent confidence level).