GREENFIELD — Greenfield Banking Company has been named Indiana’s Small-Business Lender of the Year for 2021.
The award was made by Indiana Statewide Certified Development Corporation and is for loans made by GBC to small-business owners using the U.S. Small Business Administration’s 504 loan program. Christy Smith and Laura Nance are the GBC lenders who provided SBA 504 loans to the bank’s borrowers.
Community First Bank of Indiana was runner-up for the award.
Twenty-one Indiana banks were in the running for the Indiana Statewide CDC 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. Recipients of the loans are owners of expanding or startup small businesses in Indiana.
The SBA 504 loans help small-business owners buy real estate, buildings and equipment. SBA 504 loans can give small-business owners long-term, fixed rate financing similar to commercial loan terms commonly available to large companies.
The Lender of the Year Award is made to the Indiana bank that makes the highest dollar 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.
