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Huntington Launches New Business Unit To Offer Customized Finance Solutions To Manufacturers, Vendors, Distributors and Independent Leasing Companies
New Unit Can Help Companies Save Time, Close More Sales and in Some Cases Create a
New Revenue Stream
COLUMBUS, Ohio -- November 28, 2006 -- Huntington Bancshares Inc. has launched a new business unit focused on offering customized financing programs for equipment acquisitions. Huntington's Vendor Finance Group was established to provide businesses engaged in the sale of equipment the ability to offer financing to their customers. The group has a sales force located throughout the United States, allowing equipment sellers to offer finance programs on a national basis. These programs are customized to meet the needs of the equipment seller's customer and are seamless to ensure a smooth transition during a sales cycle. "Huntington is committed to providing financial expertise to large and small businesses so that they can spend time doing what they do best-growing their businesses," said Rob Allanson, President, Huntington Equipment Finance. "Huntington is very competitive in this sector thanks to a highly capable team, fast and effective decisioning, a high level of service and a strong commitment to point-of-sale financing in commercial equipment sales." The new unit will give manufacturers, vendors, distributors and dealers the opportunity to increase sales, minimize sale delays, leverage cross-sell opportunities and manage the new equipment market on a national basis. Huntington's Vendor Finance Group is comprised of a veteran team of talented professionals with sophisticated programs and the technical capabilities necessary to react quickly to equipment sales opportunities. The team is led by Laurie Bakke who joins Huntington with more than 22 years of experience in the equipment finance industry. Prior to joining Huntington, Bakke was Executive Vice President of the Equipment Finance Division of Irwin Commercial Finance Corporation. Prior to joining Irwin in 1999, Bakke held various executive and management positions at NordFinance, Inc., the U.S. subsidiary of NordBanken AB and ITT Commercial Finance Corporation. Bakke is a graduate of the University of North Dakota and a member of the Board of Directors of the Equipment Leasing Association. Huntington's new business is part of its Equipment Finance group, which continues to be ranked on the Monitor 100, a ranking of the 100 largest and fastest growing equipment equipment/leasing financing companies in the United States.
Huntington Bancshares Incorporated is a $36 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has more than 140 years of serving the financial needs of its customers. Huntington provides innovative retail and commercial financial products and services through over 370 regional banking offices in Indiana, Kentucky, Michigan, Ohio, and West Virginia. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, 24-hour telephone bank; and through its network of over 1,000 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Arizona, Florida, Georgia, North Carolina, Pennsylvania, South Carolina, and Tennessee; Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Florida, Maryland, and New Jersey. International banking services are made available through the headquarters office in Columbus and a limited purpose office located in the Cayman Islands and another located in Hong Kong.
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