The Palmetto Bank Recognized for Small Business Lending Efforts
June 9, 2014
GREENVILLE, SC – The Palmetto Bank, a wholly-owned subsidiary of Palmetto Bancshares, Inc. (NASDAQ: PLMT), recently received two awards for small business lending efforts from the Business Development Corporation (BDC) and Certified Development Corporation (CDC) at their 2014 annual meeting. The Bank received both the South Carolina Capital Access Program (SC CAP) Top Participating Lender Award and the South Carolina State Small Business Credit Initiative (SSBCI) CAP Top Participating Lender Award, making it the largest SSBCI lender in the state of South Carolina and the 14th largest user of SSBCI nationally. The SSBCI program, which supports state-level, small-business lending programs was made possible through the Small Business Jobs Act signed into law in 2010.
“By utilizing SSBCI funding, The Palmetto Bank extends millions of dollars in credit to established, credit-worthy borrowers who otherwise may have had difficulty obtaining financing,” said Daniel Felder, Credit Administrator at The Palmetto Bank.
Edwin O. Lesley, President and CEO of BDC, stated, “Thanks to the support of The Palmetto Bank and others in the banking community, our program has received national recognition. Together, we plan to continue to help empower small businesses across our state to open, expand and to put more South Carolinians to work.”
Samuel L. Erwin, President and CEO of The Palmetto Bank, added, “As a local community bank, fostering economic development and job creation right here in South Carolina is a top priority. We are appreciative of the recognition from BDC for our small business lending efforts and are pleased that our efforts continue to make a difference in the communities we serve.”
The Palmetto Bank works with businesses to provide an array of credit solutions, including working capital, building expansions, business acquisitions and equipment financing, through its team of local experts. The Bank also participates in the Small Business Administration Loan program, offering loans to companies who might not otherwise qualify for the credit facilities.
About The Palmetto Bank (NASDAQ: PLMT):
Headquartered in Greenville, South Carolina, The Palmetto Bank is a 107-year old community bank and is the third largest banking institution headquartered in South Carolina. The Palmetto Bank has assets of $1.1 billion and serves the Upstate of South Carolina through 25 branch locations in nine counties along the economically attractive I-85 corridor, as well as 24/7/365 service through online and mobile banking and ATMs. The Bank has a unique understanding of the Upstate market and delivers local decision making with greater responsiveness to clients. Through its Retail, Commercial and Wealth Management lines of business, the Bank specializes in providing financial solutions to consumers and small to mid-size businesses with deposit and cash management products, loans (including consumer, mortgage, credit card, automobile, Small Business Administration, commercial, and corporate), lines of credit, trust, brokerage, private banking, financial planning and insurance. Recognized by several international publications for innovative client technology solutions, the Bank provides solutions that improve the client experience by providing clients the ability to bank whenever they want, wherever they want. Additional information may be found at the Bank’s website at palmettobank.com or on Facebook.
Media Contact:
Brent Williams | Director of Client Strategy
Phone: 864.250.6061 | [email protected]
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