First Community Recognized for Outstanding Lending Services to Small Businesses
April 20, 2021 (Columbia, SC) – 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.”