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Charter One ranks No. 1 small business lender in Northern Ohio district and the state
Citizens Financial Group is No. 2 lender nationwide for the fifth consecutive year, reflecting its commitment to helping small businesses growCLEVELAND (October 3, 2006) - Charter One Bank today announced it ranks as the No. 1 SBA lender in the Northern Ohio District and the state for fiscal year 2006, which ended on Friday, September 29, 2006 for SBA lending. Citizens Financial Group, Inc., Charter One’s parent company, was also ranked the No. 2 lender in the country for the fifth consecutive year, reflecting its commitment to helping small businesses grow.
In Ohio, Charter One topped all SBA lenders in number of loans for the second consecutive year with approximately 695 loans totaling nearly $34 million.
Companywide, Citizens Financial Group’s Citizens Bank and Charter One Bank subsidiaries originated more than 6,800 loans, totaling more than $320 million. Fiscal year 2006 marks the second consecutive year Charter One Bank has been named the No. 1 SBA lender in the Midwest. Charter One enhanced its focus on small business lending to better serve the needs of its customers following Citizens Financial Group’s acquisition of the bank in September 2004. In the Mid-Atlantic region, Citizens Bank is the No. 1 SBA lender again this year in every market it does business, including Philadelphia, Pittsburgh, upstate New York and Delaware. In New England, fiscal year 2006 marks the 8th time Citizens has been named the #1 SBA lender.
“Charter One is proud once again to be the #1 SBA lender in the northern Ohio district and throughout the state. Small businesses are critical contributors to the Ohio economy and we recognize their importance to our communities,” said Ned Handy, President and CEO of Charter One Bank, Ohio. “We look forward to continuing to meet the financing needs of small businesses through our SBA lending, specialized banking services and our knowledge and appreciation of this important sector.”
One Charter One success story began seven years ago when stylist Sammy Saleh began cutting the hair of business banking officer Angela Vodopivec. Saleh shared his dreams with Vodopivec about opening a contemporary photography studio and Vodopivec offered him free advice.
In September 2001, with no experience, business credit or business checking account, Saleh and his wife, Divine, acquired a space and slowly began to build their dream, Divine Photography. Vodopivec continued to visit with the Saleh’s.
“We were trying to take the business to the next level, and thankfully Angela introduced us to Charter One’s products and services. We liked what Charter One had to offer, especially the SBA lines of credit and loans, and ended up transferring everything to Charter One,” said Divine Saleh. “With the help of Angela and her exceptional customer service, we loved what Charter One had to offer and took comfort in knowing that our future goals have endless possibilities. We have completely renovated our space and added more professional photographers. Divine Photography has now become a great success, with events booked through 2009. "
“By providing much needed capital to small business owners, Charter One Bank as well as other SBA lenders fueling the growth potential of Ohio's smaller companies which are so profoundly important to our economy," said Gil Goldberg, District Director of the SBA’s Cleveland district office.
In addition to providing SBA loans, Charter One offers small businesses reduced rate loans as part of the Charter One UPtown Initiative. The UPtown Initiative was launched in March of 2006 to enhance opportunities for economic development and neighborhood revitalization in six Greater University Circle neighborhoods, including University Circle, Little Italy, Hough, Fairfax, Glenville and Buckeye.
About Charter One Bank, N.A.
Charter One Bank, N.A., is a $46 billion bank operating in Illinois, Indiana, Michigan and Ohio. It has 474 branches and more than 800 ATMs. It has 167 branches and 213 ATMs in Ohio. Charter One is a subsidiary of Citizens Financial Group, Inc., a $164 billion commercial bank holding company headquartered in Providence, R.I. Citizens has more than 1,600 branches, approximately 3,200 ATMs and 26,000 employees in a 13-state retail branch network and has non-branch retail and commercial offices in about 40 states. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits and ninth in assets as of March 31, 2006. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).
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