First Community Bank was recognized with three awards for commercial lending excellence during the annual meeting of the Business Development Corporation Of South Carolina (BDC) and its associate company Certified Development Corporation (CDC).
Each year, BDC and CDC recognize their 35 member banks for excellence in commercial lending services. First Community Bank received the following awards:
• BDC award for the greatest number of loans approved in 2020 for the Small Business Association (SBA)
7(a) Loan Program
• CDC award for the greatest number of loans approved in 2020 for the SBA 504 Loan Program
• BDC award for the greatest number of loans approved in 2020 for the South Carolina State Small
Business Credit Initiative (SSBCI) Loan Program
BDC is a non-bank commercial lending company that partners with financial institutions to provide another arm of financing to small businesses and leading to the creation of new jobs and further economic development.
CDC is a private, nonprofit corporation associated with BDC that provides long term fixed rate debenture financing under the SBA 504 lending program.
“This recognition is a testament to our dedicated team of commercial lenders and the remarkable clients who trusted us to guide them through the loan process,” said First Community Bank CEO Mike Crapps. “We know 2020 was a year like no other and we are grateful to have served so many local businesses.”
First Community Bank, founded in 1995 and headquartered in Lexington, South Carolina, is a wholly owned subsidiary of First Community Corporation (NASDAQ: FCCO). First Community is a full-service commercial bank offering deposit and loan products and services, residential mortgage lending, and financial planning/investment advisory services for businesses and consumers. First Community serves customers in the Midlands, Aiken and Greenville, South Carolina, markets, as well as Augusta, Georgia. For more information on First Community Bank, visit www.firstcommunitysc.com.
SCBIZtv is part of the SC Biz News family, serving 100,000 high-level business execs throughout South Carolina. Click for more from SCBIZtv.