Finance Your Business Today
No matter what business you’re in, FSC First wants to be in business with you.
The Small Business Growth Fund (SBGF) is available to established businesses with at least 3-5 years of profitable operating history. This program is designed to assist emerging growth companies in response to access to new markets and expansion challenges.
This program is designed for qualified businesses seeking financing for general working capital, leasehold improvements, inventory, equipment (not rolling stock) purchases, and human capital increases for the purpose of expanding their already-established business.
The loan proceeds can be combined with and subordinated to traditional bank financing. FSC First will take a junior lien position on pledged assets to secure the loan. However, the repayment of the loan must be based upon the applicant’s demonstrated ability to generate sufficient cash flow to cover the debt service or loan repayment.
In addition, FSC First requires unlimited corporate guarantees as well as personal guarantees from all individuals who own 20% or greater ownership interest in the business seeking financing.
FSC First may require controlled disbursements of loan proceeds. In other words, the loan proceeds will be disbursed through joint payee checks to the vendor and borrower.
Typically, in select circumstances, financing is provided to start-up businesses on a case-by-case basis.
- 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 2%-5%
- Collateral: Business and Personal Assets
- Personal Guaranties required
- 10% cash down payment required for existing firms, and 20% cash required for start ups
- Prince George’s County ONLY
If you are ready to apply for the Small Business Growth Fund (SBGF) now, please call us or click here to begin the application process.