Provident Business Financial Services Inc

Organization Overview

Provident Business Financial Services Inc is located in West Columbia, SC. The organization was established in 2005. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Provident Business Financial Services Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Provident Business Financial Services Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2021, Provident Business Financial Services Inc generated $980.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $866.6k during the year ending 12/2021. While expenses have increased by 9.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE PURPOSE OF THE ORGANIZATION IS TO ACT AS A DEVELOPMENT FINANCE INSTITUTION TO PROMOTE THE GROWTH (CONT'D FROM PAGE 1) OF PRODUCTIVE PRIVATE INVESTMENT AND TO ASSIST BUSINESS ENTERPRISES THAT WILL CONTRIBUTE TO THE ECONOMIC DEVELOPMENT OF THE STATE OF SOUTH CAROLINA AND THROUGHOUT THE UNITED STATES OF AMERICA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDENT BUSINESS FINANCIAL SERVICES, INC. (PBFS) ACTS AS A DEVELOPMENT FINANCE INSTITUTION TO PROMOTE THE GROWTH OF PRODUCTIVE PRIVATE INVESTMENT AND TO ASSIST BUSINESS ENTERPRISES THAT WILL CONTRIBUTE TO THE ECONOMIC DEVELOPMENT OF THE STATE OF SOUTH CAROLINA AND THROUGHOUT THE UNITED STATES OF AMERICA. PBFS PROCESSED $27,761,000 IN SBA 504 DEBENTURES TO ASSIST 26 BUSINESSES IN THE CREATION OR RETENTION OF 549 JOBS. PBFS SERVICED SBA 504 DEBENTURES IN THE AMOUNT OF $77,329,338 FOR THE CREATION AND MAINTENANCE OF A TOTAL OF 2,404 JOBS.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$979,849
Investment income $855
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $980,704

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