COLUMBUS, Ohio — The Huntington National Bank announced it is the No. 1 Small Business Administration (SBA) 7(a) lender for 2008 (Oct. 1, 2007 – Sept. 30, 2008) in Ohio, Indiana, Kentucky and West Virginia. The bank also improved its national standing as an SBA small business lender, moving up in rank for both total loan amounts and number of loans provided to businesses with annual revenues under $10 million.

“Small businesses play a key role in the success of our communities and our overall economy. Huntington’s SBA lending record further demonstrates that we are committed to helping business owners identify solutions so they can achieve their goals,” said Craig Street, national director of SBA Lending for Huntington.

Huntington ranked first in both loan dollar volume and number of loans among all SBA lenders in Ohio with 791 loans for a total of $73.7 million. In Indiana and Kentucky, Huntington ranked first in loan dollar volume with a total of $23.6 and $6.6 million, respectively. Huntington also ranked No. 1 for the number of SBA loans in the state of West Virginia with a total of 44 loans.

Huntington moved up from its 2007 ranking to now become 11th in the nation for number of SBA loans and 15th in the nation for total 7(a) loans, the most common type of loan used by small businesses.

Huntington’s SBA enhanced loans can be used by small business owners for real estate, business acquisition or expansion, start-up costs, equipment purchases, working capital and more. The Huntington National Bank is an SBA preferred lender. For more information about Huntington’s SBA-guaranteed loan program, visit www.huntington.com.

WASHINGTON, DC — The U.S. Small Business Administration today unveiled a new Web site geared to the 50-plus entrepreneur, providing useful information, links and resources vital to starting, growing and expanding a small business.

The new Web site at www.sba.gov/50plusentrepreneur features interactive information and links to help 50-plus entrepreneurs consider the benefits and rewards of business ownership, and to help them make informed choices about business ownership.

“The SBA is working hard to increase opportunities for small businesses of the baby boomer generation at every stage of their business development through better technology tools and effective services through the agency’s district offices and resource partners,” SBA Acting Administrator Sandy K. Baruah said. “We believe 50-plus entrepreneurs will drive significant new business growth in the coming years.”

Components of the new Web site include a self-assessment feature to help the aspiring entrepreneur determine his or her business readiness, information on borrowing and credit, and inspirational success stories from baby boomer entrepreneurs. The Web site will help users evaluate the reasons for business ownership after age 50, the risks involved, and how to devise a plan of action at every phase of business development.

This is the first new offering under the structure of the re-launched Office of Entrepreneurship Education (OEE). OEE combines SBA’s online education programs, business and community initiatives, and outreach to underserved markets under a single umbrella.

As baby boomers consider career and lifestyle shifts that extend beyond their work careers, tapping into the world of business ownership can allow them to leverage their flexibility, know- how and business acumen to go into business for themselves. Many have already joined the ranks of the nation’s self-employed and small business owners.

The SBA provides financial, management and technical assistance to thousands of small business owners throughout the country. The Web site can be accessed at all times, as well as the SBA’s other online resources and free online training at www.sba.gov.

WASHINGTON, DC — “High-impact” firms create Indiana’s new jobs and growth, according to a study recently released by the Office of Advocacy of the U.S. Small Business Administration. Distributed across all industries, high-impact firms account for almost all employment and revenue growth in the national economy, the study concludes.

Of the 376,604 high impact firms identified by researchers nationwide, 6,777 are located in Indiana. That number represents 2.2 percent of Indiana’s firms. Of the 6,777 high impact firms located in Indiana, 181 are located in the Lafayette MSA.

The study High-Impact Firms: Gazelles Revisited, defines high-impact firms as those whose sales have at least doubled over a four-year period and which have an employment “growth quantifier” (the firm’s absolute change in employment multiplied by the percent change) of two or more.

The study notes that such firms are found across all industries and in all geographic regions. It ranks regions, states, metropolitan statistical areas, and counties by their percentage of high-impact firms. The study finds, with some data limitations, that high-impact firms are not start-ups but are on average around 25 years old, and that they come in all size classes. The report also documents that over the periods studied, nearly all job losses came from large, low-impact firms.

“High-impact firms are important to Indiana’s economic growth and development,” said Dr. Chad Moutray, Chief Economist for the Office of Advocacy. “State policy makers would be wise to consider how their policies can encourage such firms.”

The Office of Advocacy, the “small business watchdog” of the federal government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats, and it funds research into small business issues.

For more information, a complete copy of the report and rankings of high-impact firms by region, state, MSA, and county, visit the Office of Advocacy website at www.sba.gov/advo.

WASHINGTON, DC — In just under a year’s time, the U.S. Small Business Administration’s Patriot Express Pilot Loan Initiative approved more than $150 million in loan guarantees to nearly 1,500 veterans and their spouses who are using the SBA-guaranteed funds to establish and expand their small businesses.

Patriot Express, launched last June 28, builds on the more than $1 billion in loans SBA guarantees annually for veteran-owned businesses, and the counseling assistance and procurement support it provides each year to more than 100,000 veterans, service-disabled veterans and Reserve members.

“With the patriotic remembrances of Flag Day, June 14, comes the reminder that the SBA is committed to helping America’s service men and women during the continuing War on Terror,” SBA Acting Administrator Jovita Carranza said. “We believe that Patriot Express, supported by SBA’s other services, goes directly to the needs of these American Patriots who wish to start businesses, and in the process encourages job creation and growth, an essential part of the President’s economic agenda.”

Patriot Express is a streamlined loan product based on the agency’s highly successful SBA Express Program, but with enhanced guaranty and interest rate characteristics. The Patriot Express loan is offered by SBA’s network of participating lenders nationwide and features SBA’s fastest turnaround time for loan approvals. Loans are available up to $500,000 and qualify for SBA’s maximum guaranty of up to 85 percent for loans of $150,000 or less and up to 75 percent for loans over $150,000 up to $500,000. For loans above $350,000, lenders are required to take all available collateral.

The Patriot Express loan can be used for most business purposes, including start-up, expansion, equipment purchases, working capital, inventory or business-occupied real-estate purchases.
Patriot Express loans feature SBA’s lowest interest rates for business loans, generally 2.25 percent to 4.75 percent over prime depending upon the size and maturity of the loan. Local SBA district offices will have a listing of Patriot Express lenders in their areas. Details on the initiative can be found at www.sba.gov/patriotexpress

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INDIANAPOLIS, Ind. — The U.S. Small Business Administration (SBA) is presenting small business informational seminars. The next SBA Seminar, Doing Business with the Federal Government, will be offered on Tuesday, April 29, 2008. The seminar will be conducted from 3:00 p.m. to 4:30 p.m. EDT at the SBA Indiana District Office, 8500 Keystone Crossing, Suite 400, Indianapolis.

Attendees will learn:

• Where to find contracting opportunities;
• How to register your business to sell to the government;
• How to market your products and services;
• Why you may need to obtain a surety bond and how.

Reservations are required as seating is limited. There is no cost for attending this SBA seminar on Tuesday, April 29, 2008, from 3:00 p.m. to 4:30 p.m. at the Small Business Administration Indiana District Office.

For more information or to reserve your space, contact Mike Hasler at (317) 226-7272 x113 or michael.hasler@sba.gov.

The U.S. Small Business Administration is an agency of the Federal government.