First Bancorp in Southern Pines, N.C., has formed a nationwide Small Business Administration lending business.
The $3.4 billion-asset company said in a press release that the division will offer a variety of SBA products.
Stephanie Dunn will run the business as its national sales manager. Dunn, a former executive at SBA lending powerhouse Live Oak Bancshares, joined First Bancorp in May. In 2010, she was a contestant on the reality show "The Apprentice", which at the time featured current presidential contender Donald Trump.
"We are excited about the addition of our SBA division and the complete lending services we can offer business owners and entrepreneurs across First Bank communities and throughout the United States," Richard Moore, First Bancorp's chief executive, said in the release.
First Bancorp agreed in June to buy Carolina Bank Financial in Greensboro, N.C.