First Community Bank was recently recognized by the U.S. Small Business Administration’s (SBA) South Carolina district office as the top 504 third party lender of the year for fiscal year 2020 during a virtual presentation.
The SBA 504 program is a long term, fixed rate financing tool designed to provide attractive finance options for small businesses. Funds can be used for the purchase of long-term fixed assets, such as commercial real estate, buildings and equipment.
First Community Bank ranked number one among all banks in South Carolina in the number of loans originated through the SBA’s 504 loan program during the federal fiscal year that ended September 30, 2020.
“We are proud to receive this designation from the SBA; it’s a true testament to First Community Bank’s dedication to serving the community and our focus on serving local business,” said First Community Bank President Ted Nissen. “We are humbled to have the privilege of providing a path to success for small businesses in South Carolina, and even more so during a year as challenging as 2020.”
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.
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