Veteran local commercial banker Ted Crosson has joined Business Development Corporation (BDC) as vice president and Small Business Administration lending officer.
Crosson had been with BB&T in Columbia for the past 14 years, focusing for the past four years on commercial relationship management and small business coaching for financial centers.
His retail banking experience also includes successfully opening BB&T's de novo branch in the Village at Sandhill in northeast Richland County and managing the regional bank's Main Street Financial Center in downtown Columbia, where he worked closely with commercial bankers and their clients.
Crosson received his bachelor's degree in business administration from the University of South Carolina, where he majored in real estate and management and minored in finance.
"Ted Crosson comes to us with extensive commercial banking experience in the Columbia, Lexington, and Orangeburg markets. We're excited to see him now expand those lending and relationship skills across the Palmetto State," said BDC President and CEO Peter Shand.
"This is an exciting time to be a small business person in South Carolina, and SBA-backed financing continues to be a great vehicle for entrepreneurs to help turn vision into reality. Ted Crosson has the contacts and experience to make a real difference for these job creators and community builders," said BDC Chairman Edwin O. Lesley.
BDC is a non-bank commercial lending company specializing in the U.S. Small Business Administration's 7(a) loan guaranty program and the State Small Business Credit Initiative (SSBCI).
Created by the South Carolina Legislature in 1958 to help foster economic development and job creation, the BDC Board includes many of the state's leading community and commercial bankers and the organization now is certified to lend across seven Southeastern states.