Business loan

GBC Secures Small Business Loan – The Daily Reporter


GREENFIELD – Greenfield Banking Company was named Indiana Small Business Lender of the Year for 2021.

The award was presented by the 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 shortlisted 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. Loan recipients are owners of small businesses 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 the terms of commercial loans commonly available to large businesses.

The Lender of the Year award goes to the Indiana bank that grants 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.