First Port City Bank hired Steve Penza as a government guaranteed lender. In his position, Penza will be responsible for generating small business loans through the bank’s government guaranteed lending division throughout North Carolina, South Carolina, Tennessee, Georgia, Alabama and Florida. Penza has more than 23 years of experience underwriting SBA 7a and 504 loans.

“We look forward to Steve’s contributions in helping grow our government guaranteed lending group and expand our services in SBA/USDA lending in south Florida,” Durand Childers, president of First Port City Bank’s Florida banking division, said. “Our ability to offer small business loans and our in-house expertise are great benefits to the communities we serve. Both start-up and existing businesses can benefit from government guaranteed loans through lower capital requirements and increased cash flows, otherwise not available on a conventional basis.”

The SBA and USDA lending programs are intended to provide capital to small businesses who otherwise would not be eligible for commercial funding. Through the programs, First Port City Bank can offer small business loans for business acquisitions, commercial real estate purchases, farming operations, start-up operations and franchise lending. First Port City Bank’s government guaranteed lending team has surpassed more than $400 million in government guaranteed loans.

“We continue to strengthen our SBA/USDA lending division in order to serve small businesses across the southeast by providing them the capital they need to grow their business. Steve is the perfect combination of experience and community development to help customers succeed,” John McClure, senior vice president and managing director of First Port City Bank’s government guaranteed lending division, said.

Founded in 1974, First Port City Bank is an approximately $258 million community bank offering financial services through five banking offices in Georgia and Florida.