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First Community Bank

First Community Bank offers comprehensive SBA lending services tailored to small and medium-sized businesses seeking financial support for growth, expansion, or working capital needs. With a focus on personalized service, this bank provides a range of SBA loan programs including the popular 7(a) loan program, which is ideal for various business purposes such as purchasing equipment, real estate, or refinancing existing debt. Their experienced lending team works closely with clients to understand their unique needs and guide them through the application process, ensuring a smooth experience from start to finish. Located in Lexington, South Carolina, the bank leverages local market knowledge to support regional economic development. They also offer flexible financing options with competitive rates and terms, making them a reliable partner for business owners looking to access SBA-backed funding. Whether you’re a startup or an established company, First Community Bank strives to deliver tailored solutions that help your business thrive. Their commitment to community banking and small business growth makes them a trusted choice for SBA loans in the region.

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Lender Type

Commercial Bank

Google Rating

3.5

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Question 1

What is this place and what can I find here?

Answer 1

This is a bank that offers SBA loan programs and financial services designed to support small and medium-sized businesses in the Lexington area. You can find assistance with business financing, including loans for real estate, equipment, and working capital, as well as personalized guidance from experienced lenders.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It is recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may be available during business hours. Calling ahead can help you prepare and receive more efficient service.

Question 3

What are the hours of operation?

Answer 3

The bank typically operates from 9:00 AM to 5:00 PM, Monday through Friday. It is advisable to contact the branch directly for specific hours or to schedule an appointment outside regular hours if needed.

Question 4

Is there a fee to use this?

Answer 4

There are no fees for simply visiting or consulting with the bank; however, loan processing and closing may involve standard fees such as application fees, guarantee fees, and closing costs, which will be disclosed upfront.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This bank primarily serves local residents and small businesses within the region, but eligibility for SBA loans depends on meeting specific criteria related to creditworthiness and business operations.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of around 640 is typically preferred, though higher scores can improve loan approval chances and terms.

Question 7

How long does the traditional underwriting process take from start to close?

Answer 7

The underwriting process generally takes between 30 to 60 days, depending on the complexity of the loan and completeness of the application.

First Community Bank

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