BizSugar.com › News › Huntington Bank Creates New Pandemic Loan Program for Small Businesses

Huntington Bank has announced it has launched a new $25 million lending program. The program will be focused on helping Midwest-based small businesses owned by minorities, women and veterans.

The Huntington Lift Local Business program will be a big part of the lender’s $20 billion Community Plan. The recently announced five-year plan aims to drive economic inclusion through access to capital, affordable housing, and home ownership.

The program, dedicated to bringing relief, recovery and growth to minority, women and veteran-owned small businesses, is welcome news. The National Bureau of Economic Research reported distinct differences between the effects of Covid-19 on different minority communities. While the total amount of active business owners fell by 22% between February and April, black businesses dropped by 41%. Latinx business owners experienced a 32% drop.