Business loan

GBC wins small business loan – The Daily Reporter

GREENFIELD – Greenfield Banking Company has been named Indiana’s Small Business Lender of the Year for 2021.

The award was presented by Indiana Statewide Certified Development Corporation and is for loans made by GBC to small business owners using the US Small Business Administration’s 504 loan program. Christy Smith and Laura Nance are the GBC lenders who have provided SBA 504 loans to borrowers from the bank.

Community First Bank of Indiana was a finalist for the award.

Twenty-one Indiana banks were nominated for the Indiana Statewide CDC’s Small Business Lender of the Year award.

Indiana Statewide CDC is certified by the SBA to work with local lenders to issue SBA 504 loans. Loan recipients are small business owners expanding or starting up in Indiana.

SBA 504 loans help small business owners purchase real estate, buildings, and equipment. SBA 504 loans can provide small business owners with long-term, fixed-rate financing similar to commercial loan terms typically available to larger businesses.

The Lender of the Year award is given to the Indiana bank that makes the highest volume of SBA 504 loans with Indiana Statewide CDC as a percentage of the bank’s total deposits. GBC also won the award in 2019.