Overview of Programs

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

Finance Your Business Today

No matter what business you’re in, FSC First wants to be in business with you.

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 participation banks, Prince George’s County, the State of Maryland and FSC First.

SBA 504 Commercial Real Estate LoanPrint This Page

SBA 504 Commercial Real Estate Loan is targeted towards the more established business that is seeking to purchase owner-occupied commercial real estate (typically to transition from leasing or to improve cash flow).

  • Loans for healthy expanding businesses up to $5.5 million
  • Interest Rate: Fixed, below market financing
  • Financing for fixed assets: commercial real estate acquisition, construction, machinery and equipment
  • Loan Term: 20 years for real estate, 10 years for machinery and equipment
  • Down Payment: Typically, 10%-20% cash down payment required
  • Personal Guaranties required
  • Available Statewide

 

Small Business Growth Fund (SBGF)Print This Page

Small Business Growth Fund (SBGF) is targeted towards smaller, established businesses (3 – 5 years of operating history). Eligible uses are real estate acquisitions, leasehold improvements, equipment purchases, working capital expenditures, inventory and human capital increases for the purpose of expanding established businesses.

  • Loans between $25,000 – $400,000 ($100,000 maximum for start-ups, and over $250,000 if real estate is involved)
  • Loan Term: Up to 10 years
  • Interest Rate: Wall Street Journal Prime Rate plus up to 6%
  • Collateral: Business and Personal Assets
  • Personal Guaranties required
  • 10% cash down payment required for existing firms, and 20% cash required for start ups

 

Economic Development Incentive Loan FundPrint This Page

Economic Development Loan Fund (EDIF) – Prince George’s County has dedicated $50 million to provide for the retention, expansion and attraction of businesses that will broaden the County’s commercial tax base, retain and attract jobs, support small and local enterprises, and promote the development and redevelopment opportunities, transit oriented development and the growth of key industry sectors. The Economic Development Incentive Fund (EDIF) is administered by Prince George’s Financial Services Corporation (FSC First) and the Prince George’s Economic Development Corporation. Projects should produce significant economic impact through measurable outcomes such as job creation and retention, increasing the commercial tax base, industry and commerce, and promoting local, minority and small business development. The project must demonstrate that “but for” the County offering public incentives, the project would not proceed and that this investment is leveraged with additional private and public dollars.

  • Loan Term: 10 years maximum, amortization not to exceed 25 years
  • Interest rate: 4% plus pricing depending on credit analysis
  • Minimum Loan amount $250,000
  • Eligible Uses: Land and building acquisitions, building construction and improvement, equipment acquisition, and working capital
  • Must create jobs and increase the commercial tax base – evaluation is conducted on a case by case basis by the Economic Development Corporation
  • Collateral: Business and Personal Assets
  • Personal Guaranties required
  • Projects located in the County’s developed tier, transit-oriented development areas, Transforming Neighborhoods Initiative areas and other focus areas will be given special priority

Micro-Enterprise Loan Fund – MD DHCDPrint This Page

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.

  • Loans: Ranging from $5,000 – $50,0000
  • Loan Term: 2 to 5 year maximum term
  • Interest rate: Wall Street Journal Prime Rate plus up to 6%
  • Collateral: Business and Personal Assets
  • Personal Guaranties required
  • Sustainable Communities and Priority Funding Areas Statewide

 

City of Bowie Loan FundPrint This Page

City of Bowie Loan Fund provides businesses with assistance for costs associated with leasehold improvements, equipment purchases, working capital expenditures, and human capital increases for the purpose of expanding their already-established business.

  • Loans: Up to $50,000
  • Loan Term: 2 to 10 year maximum term
  • Interest rate: Wall Street Journal Prime Rate plus up to 6%
  • Collateral: Business and Personal Assets
  • Personal Guaranties required
  • Businesses located in Bowie ONLY

 


FSC First product brochures are available to view or print by clicking on the following links.