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.

MICRO-ENTERPRISE LOAN PROGRAM (MD DHCD)

FSC First is a designated Fund Manager for the Maryland Department of Housing & Community Development (MD DHCD). Eligibility includes leasehold improvements, equipment purchases, working capital expenditures, and human capital increases for the purpose of expanding an established business and feasible start-up.

Program Details

The Micro-Enterprise Loan Fund – MD DHCD is designed to provide micro loans to businesses located in sustainable communities designated by the Maryland Department of Housing and Community Development. Eligible uses are leasehold improvements, equipment purchases, working capital expenditures, and human capital increases for the purpose of expanding their established business and feasible start-ups.

  • Collateral: Business and Personal Assets
  • Personal Guarantees required
  • Available to home-based businesses based on FSC First’s approval
  • Now available to businesses located in Priority Funding Areas (PFA’s) and Sustainable Communities Statewide

    Program Snapshot

    Loans
    Ranging from $5,000 – $50,000

    Loan Term
    2 to 5 year maximum term

    Interest rate
    Wall Street Journal Prime Rate plus up to 6%

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