Carolina First Bank Approved for Preferred Lender Stat
U.S. Small Business Administration
January 14, 2010 04:33 PM Eastern Time
GREENVILLE, S.C.--(EON: Enhanced Online News)--Carolina First Bank, the banking subsidiary for The South Financial Grou
(NASDAQ: TSFG), announced it has been approved as a preferred lender under the U.S. Small Business Administration (“SBA”)
Program (“PLP”). Only the most experienced lenders are designated as PLP lenders and delegated the authority to process, under
service SBA guaranteed loans without prior SBA review.
“Carolina First is excited to receive this designation, which enhances our efforts to attract and strengthen our banking relationships
businesses in the Carolinas and Florida,” said Richard Bradshaw, Executive Vice President and Director of SBA Lending. “Plus, it’
our overall relationship bank strategy. This includes targeting small business customers where we know our customers, understand t
and provide outstanding service.”
In August 2009, Richard Bradshaw joined Carolina First to establish and manage a SBA lending unit to generate new customers by
business lending opportunities in Carolina First Bank’s North Carolina and South Carolina markets and Mercantile Bank’s Florida
Bradshaw, who has over 20 years of banking experience, including 15 years of SBA experience, has hired 17 experienced SBA pr
new lending unit.
General Information
The South Financial Group is a bank holding company focused on serving small businesses, middle market companies, and retail cu
Carolinas and Florida. At September 30, 2009, it had approximately $12.3 billion in total assets and 177 branch offices. TSFG op
First Bank, which conducts banking operations in North Carolina and South Carolina (as Carolina First Bank), in Florida (as Merc
on the Internet (as Bank CaroLine). At September 30, 2009, approximately 45% of TSFG’s total customer deposits were in South
were in Florida, and 12% were in North Carolina. Investor information is available at www.thesouthgroup.com.
Con