Community bank adds SBA lending unit

Sanibel Captiva Community Bank is expanding to SBA loans, including SBA 7(a) and 504 loans and SBA express lines of credit.

The bank, with $729 million in assets, named Lee Golden, senior vice president, director of business development and commercial loan officer, as the bank’s Small Business Administration lending specialist, according to a statement. Golden, the release adds, is "responsible for assessing and evaluating the financial portrait of businesses to determine the best SBA loan product to meet the borrower's needs."

SBA loans, the bank says in the statement, can offer more versatility for business owners and can be used to purchase land or buildings; cover new construction; finance equipment or other supplies; or acquire an existing business.