Old National Bank ranked the #1 Indiana-based SBA 7a Lender

Rhea-AI Summary

Old National Bank has been recognized as the number one Indiana-based lender and the second overall lender in Indiana for the SBA's 2021 fiscal year 7a loan volume rankings. The bank's SBA 7a loan volume doubled to $141 million, a significant increase from $70 million in 2020. Notable growth was reported across several states, with Michigan seeing a 129% increase and Minnesota a 65% increase in loan volume. The bank aims to support small business growth through its dedicated SBA services.

Positive

• Achieved number one Indiana-based lender and number two overall lender ranking for SBA 7a loans.
• SBA 7a loan volume doubled to $141 million in fiscal year 2021 from $70 million in 2020.
• Significant growth in loan volume: 129% in Michigan and 65% in Minnesota.

Negative

• None.

EVANSVILLE, Ind., Nov. 19, 2021 (GLOBE NEWSWIRE) -- Old National Bank has achieved the number one Indiana-based lender ranking and the number two overall lender ranking in the state of Indiana according to the SBA’s 2021 fiscal year 7a state loan volume rankings*.

The report showed significant movement for Old National Bank’s SBA 7a loan growth in fiscal year 2021 in key states across its footprint. In the Minnesota region, Old National Bank maintained the number two lender ranking and grew SBA 7a loan volume by 65%. In Michigan, Old National Bank grew SBA 7a loan volume by 129%. Significant growth was also achieved in Kentucky and Wisconsin, with 59% and 76% SBA 7a loan volume growth, respectively.

Combined, this reflects significant 7a lending growth for Old National Bank, doubling the loan volume to $141 million in the SBA’s fiscal year 2021 compared to $70 million in fiscal year 2020*.

“Our results speak for themselves, and we are proud that we have been able to help so many new and existing small businesses secure the capital they need through the SBA’s 7a loan program,” said Jeff Roseland, Old National Bank SBA Director. “Our dedicated team of SBA specialists, in partnership with our commercial bankers, are leveraging our SBA expertise and providing customer-focused solutions to clients. We look forward to continuing to be a premier provider of SBA 7a loans for business expansions, ownership transitions, and new business start-ups to our clients in all the markets we serve.”

*Source: National Association of Government Guaranteed Lenders

ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the largest bank holding company headquartered in Indiana. With $24 billion in assets, it ranks among the top 100 banking companies in the U.S. and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for 10 consecutive years. Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships and keeping our clients at the center of all we do. This is an approach to business that we call The ONB Way. Today, Old National’s footprint includes Indiana, Kentucky, Michigan, Minnesota and Wisconsin. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investment and capital market services. For more information and financial data, please visit Investor Relations at oldnational.com.

Media Contact:

Kathy Schoettlin
ONB Spokesperson
812-465-7269
Kathy.schoettlin@oldnational.com 

FAQ

What ranking did Old National Bank achieve in the SBA's 2021 fiscal year?

Old National Bank achieved the number one Indiana-based lender ranking and the number two overall lender ranking in Indiana.

What was Old National Bank's SBA 7a loan volume in fiscal year 2021?

Old National Bank's SBA 7a loan volume reached $141 million in fiscal year 2021.

How much did SBA 7a loan volume grow in Michigan for Old National Bank?

In Michigan, Old National Bank's SBA 7a loan volume grew by 129%.

What was the growth percentage for Old National Bank's SBA 7a loans in Minnesota?

Old National Bank's SBA 7a loan volume in Minnesota grew by 65%.