INDIANAPOLIS (October 17, 2005) - Charter One Bank today announced it was named the No. 1 small business lender in Indiana and throughout the Midwest Region, District 5 – Illinois, Indiana, Michigan, Minnesota, Ohio and Wisconsin – by the U.S. Small Business Administration.
Fiscal year 2005 marks the first time Charter One Bank has been named the leader in SBA lending in Indiana and throughout the Midwest. Charter One enhanced its focus on small business lending to better serve the needs of this important market segment. Charter One was acquired last September by Citizens Financial Group, Inc., the No. 1 SBA lender in the New England and Mid-Atlantic regions and the No. 2 SBA lender in the country.
During the annual SBA fiscal year from October 1, 2004 to September 30, 2005, Charter One Bank awarded 307 loans, valued at $10.3 million, to small businesses in Indiana, giving the bank a 47-loan lead over its nearest competitor.
“We understand the needs of the small business market and are committed to making credit available to help small businesses grow and succeed,” said Norman Hatch, President and CEO of Charter One Bank, Indiana. “Our established loan processes combined with our extensive training program enables Charter One business banking officers to offer full-service relationship banking to all customers.”
Danielle Luhmann, owner of Hey Little Diddle in Noblesville, IN, and Lucky Lou in Fishers, IN was one of the many Indiana small business owners who secured SBA loans from Charter One in 2005.
“I feel like I am truly important to Charter One – more than just another customer. The personal service and attention to detail Charter One provides made it clear to me that small business lending is a priority. The 100% growth I have achieved over the past two years simply would not have been possible without Charter One,” said Luhmann.
“Charter One Bank has clearly demonstrated its commitment to Indiana's small business market,” said Gail Gesell, Indiana District Director of the U.S. Small Business Administration. “We applaud Charter One for helping small business owners realize their dreams over the past 12 months, and we look forward to its continued support of our small business community.”
Since September 2004, Charter One has established an aggressive small business initiative that includes:
- The addition of 16 new business bankers in Indiana dedicated to the small business initiative
- A more streamlined process for small business loan applications with fewer forms and a simpler approval process
- A comprehensive marketing program to educate small business owners about the products available
- Extensive training for all business bankers, underwriters, and retail branch staff.
About Charter One Bank, N.A.
Charter One Bank, N.A., is a $41 billion bank operating in Illinois, Indiana, Michigan and Ohio. It has more than 490 branches and 812 ATMs. It has 64 branches and 70 ATMs in Indiana. Charter One is a subsidiary of Citizens Financial Group, Inc., a $148 billion commercial bank holding company headquartered in Providence, R.I. Citizens has more than 1,600 branches, approximately 3,100 ATMs and more than 27,000 employees in a 13-state retail branch network and non-branch offices in more than 30 states. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).