Among 687 participating lenders, Columbus-based Huntington Bank dominated competitors in the Paycheck Protection Program in both Ohio overall and Northeast Ohio itself in terms of total lending volume. This comes despite a number of fits and starts for the unprecedented stimulus program that primarily allowed for the processing of potentially 100% forgivable loans from April through June 30. While the original application deadline has passed, an extension allows lenders to continue to file requests until Aug. 8. Huntington at one time became so inundated with PPP applications this spring, it temporarily stopped accepting them. The small-business-focused PPP funded 140,277 Ohio businesses with a combined $18.3 billion in loans for entities with 500 employees or fewer during its three-month lifespan between April and June, according to U.S. Small Business Administration figures. Ohio companies claimed 2.9% of all U.S PPP loans made (nearly 4.9 million) and 3.5% of all dollars lent —…
Continue Reading: Here are the top PPP lenders in Ohio and Northeast Ohio region
