FSC FIRST PROGRAMS

FSC First provides access to financing to small and minority businesses through 5 distinct loan products. The loans are a product of public-private partnerships between a consortium of participating banks, Prince George’s County, the State of Maryland and FSC First.

EDI FUND CONTRACTORS ADVANTAGE PROGRAM (CAP)

FSC First is a designated Fund Manager for the EDI Fund Contractors Advantage Program (CAP) utilizes $1 million of EDI Funds to support County-based contractors seeking lines of credit to finance working capital, equipment, labor and materials.

Program Details

Businesses assure priority assistance  for Local Small Minority Business Enterprises (LSMBEs) and support local hiring. The bank financing the line of credit must be on the  County’s pre-approved list to participate in the program. Requirements are as follows: 

      • Collateral to be determined by the Bank
      • Interest rate to be determined by the underwriting bank
      • Loan Term of 10 years max; amortization not to exceed 25 years
      • Maximum line of credit: $250,000
      • Maximum 24 month loan term
      • Maximum 25% Guarantee (not to exceed $62,500) to be provided by FSC First (CAP)
      • Personal Guaranties required
      • Preference for Local Small Minority Business Enterprises (LSMBEs) requiring assistance for Prince George’s County-based projects only
      • Fee: 1% of guaranteed portion of loan

Program Snapshot

Loans
$250,000 maximum

Loan Term
10 years max; amortization not to exceed 25 years

Interest Rate
To be determined by the underwriting bank

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