Our History

FSC First is recognized as the premier lender of non-traditional financing
for small and minority-owned businesses in the State of Maryland.

Our HistoryPrint This Page

Some of our accomplishments include:

  • Expanding from one program to now five
  • Expanding our services to share our portfolio management and loan servicing expertise and best practices with other revolving loan funds and financing programs
  • In 35 years, over $117 million dollars in direct loans to small and minority-owned business in Prince George’s County
  • In Fiscal Year 2012, supported more than 400 jobs in our local community

 

Why is FSC First Different?

FSC First is designated as a Community Development Financial Institution (CDFI) as designated by the U.S. Treasury Department. FSC First has developed local and regional strategic alliances with key economic development agencies and business resource providers who assist in bringing comprehensive resources to their clients, such as management and technical assistance, bonding, and procurement assistance.

Our President & CEO, Shelly M. Gross-Wade, participates in the development and implementation of Economic Development strategies for the County through the Leaders on the Same Page Group in the County Executive’s Office of the Prince George’s County government. FSC First has a collaborative network within the County Administration that allows us to assist our clients with more than financing, such as permitting issues and site selection.

FSC First is recognized as the premier lender of non-traditional financing for small and minority-owned businesses in Prince George’s County.

FSC First ranks consistently amongst the top 25 lenders in the SBA Washington Metropolitan Area.

“FSC Firsts”Print This Page

FSC First is founded

FSC First is founded as a 501c(3) non-profit organization.

FSC First is certified

FSC First is designated as a Certified Development Company by the U. S. Small Business Administration.

FSC First Grows

FSC First establishes a revolving loan fund with 12-15 participating lenders.

FSC First becomes autonomous

FSC First became an autonomous agency funded in part by Prince George’s County.

FSC First becomes a CDFI

FSC First is designated as a Certified Development Financial Institution (CDFI) by the U.S. Treasury.

FSC First collaborates with the City of Bowie

Contracted as a Lender Service Provider for the City of Bowie Revolving Loan Fund.

FSC First obtains Tax Credits

FSC First is awarded $10 Million in New Market Tax Credits by the U.S. Department of the Treasury.

FSC First restructures

FSC First restructures the organization to allow for enhanced customer service and quicker loan response time.

FSC First contracted for Micro Enterprise Loan Fund

FSC First receives contract to serve as Intermediary & Lender Service Provider for the Maryland DHCD Micro-Enterprise Loan Fund.

FSC First contracted for Economic Development Incentive Fund

FSC First receives contract to serve as the Fund Manager for the Prince George’s County Economic Development Incentive Fund.

FSC First designated Guaranteed Lender

FSC First is designated Community Advantage 7(a) Guaranteed Lender by U.S. Small Business Administration.

FSC First appointed as a Lender Service Provider

FSC First is contracted as Lender Service Provider by the Maryland Department of Business & Economic Development (DBED) to service Small Business and Microenterprise Loans for the Maryland Casino Business Investment Fund (MCBIF).

FSC First Ranked #1 

FSC First Ranked #1 SBA Community Advantage Lender in Washington Metropolitan Area