October 23 – 27 marks Economic Development Week in Maryland, a time to spotlight and celebrate the significant impact of economic development on our state. Instituted by the Maryland Economic Development Association (MEDA) in 2011, this annual observance showcases the transformative power of economic development. At FSC First, we’re proud to contribute to this mission by supporting small and underrepresented businesses in the county and state with our tailored financial management services.

As a Community Development Financial Institution (CDFI), we offer financial solutions tailored for communities that lack access to traditional banking and investment opportunities. Our services empower both established and emerging businesses in Maryland to thrive. This impact goes beyond individual entrepreneurs, business owners, or employees – these financial solutions ripple throughout the state to create a stronger economy and financially healthy communities.

Since 1978, FSC First has been at the forefront of supporting Prince George’s County, neighboring communities, and the broader State of Maryland with our dynamic business financing solutions and loan administration services. As of our last Annual Report, published in March 2023, our contributions have included:

  • 175 businesses engaged through FSC First’s outreach efforts in FY2022.
  • 2,653 businesses benefited from counseling services, averaging 105 businesses annually.
  • Over $104.7 million in loans successfully closed and funded.
  • 12,899 jobs supported over the past 25-year period.

For a deeper insight into FSC First’s impact, click here.

Dawn Medley, President and CEO of FSC First and MEDA Board Member, expresses, “I’ve witnessed firsthand the transformative power of targeted financial solutions in shaping the economic landscape of Maryland. FSC First’s impact underscores the importance of nurturing local businesses and fostering financial resilience within our communities. Economic Development Week in Maryland isn’t just a celebration—it’s a testament to our collective commitment and the potential of what we can achieve together.”

In honor of Economic Development Week in Maryland, FSC First has issued a proclamation, which can be viewed here.

FSC First is also hosting its Capital Matters Track 1: Business Preparatory Support: Session #4: Building Your Growth Team and Experts Roundtable on October 26 from 5 PM – 7 PM, during Economic Development Week in Maryland. This program, part of FSC First’s Level Up initiative, aims to equip business owners with tools for growth. Attendees will learn about the loan application process, what lenders look for, and how to optimize their applications. The event emphasizes building strong growth teams and introduces crucial financial management tools. Level Up, a collaborative effort supporting Maryland’s small and minority-owned businesses, offers capital access, training, mentoring, and networking. By leveraging these resources, businesses can strengthen their capabilities and potentially bolster Maryland’s economic landscape.

As we commemorate Economic Development Week in Maryland, FSC First remains committed to strengthening Maryland’s economic foundation. Our longstanding history, financial services, and community-driven approach emphasize the vital role of inclusive economic growth. We’re thankful for our community’s trust and are inspired to continue working together for shared economic progress.

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