Business

Greenfield Banking Co. named small business lender of the year

GREENFIELD, Ind. (Inside INdiana Business) -Greenfield Banking Co. has been named the Indiana Small Business Lender of the Year by Indiana Statewide Certified Development Corp. More than 20 Indiana banks were considered for the award, with First Financial Bank of Terre Haute as the runner up.

The Statewide CDC works with local banks to offer loans to Indiana small business owners from the US Small Business Administration 504 loan program.

The small business lender of the year award honors the bank that has given the largest percentage of its deposits to US Small Business Administration 504 small business loans with Indiana Statewide CDC.

First Merchants Bank was also honored at Indiana Statewide CDC’s annual meeting in Indianapolis, for having the most SBA 504 loans with Indiana Statewide CDC, with seven loans totaling $7.2 million in bonds sold by the SBA to finance the loans.

The awards recognized banking activity with Indiana Statewide CDC for the fiscal year 2019 that ended September 30.

In that time, Indiana Statewide CDC approved $34.1 million in loans to Indiana small business owners, which is the largest amount of any of the state’s certified lenders of SBA 504 funds.

Indiana Statewide says the loans helped create or save approximately 680 jobs.

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