RANKED #1 SBA COMMUNITY ADVANTAGE LENDER in the Washington Metropolitan Area.

SBA #1 LenderFSC First was selected to participate in the SBA Community Advantage Pilot Program and landed the coveted #1 ranking in 2015.  The Pilot Program was designed to increase SBA-guaranteed loans to small businesses in underserved areas and is currently set to expire March 15, 2017.  On December 28, 2015, SBA published a notice in the Federal Register (Volume 80, No. 248) to extend the term of the Community Advantage Pilot Program until March 31, 2020.

The SBA Community Advantage Pilot Program allow mission focused non-bank lenders, like FSC First, to qualify for participation in the SBA 7(a) Loan Guarantee Program.  The designation allows FSC First to qualify its loan applicants for loan guarantees on all direct loans FSC First makes from the local loan pool, marketed as the Small Business Growth Fund.  The guarantees range from 75% to 85%, and further secures FSC First in the event a borrower defaults on its loans.  Typically, loan applicants must demonstrate their ability to pledge assets to secure the loans before qualifying for an SBA guarantee. FSC First is currently servicing more than $2.0 Million in outstanding loan balances in the SBA Community Advantage program.

Also, the SBA notice includes several changes that were effective December 28, 2015; including allowing Community Advantage loans to be used to refinance existing commercial debt.  We look forward to being of assistance to our local business clients who need help with restructuring their existing debt, while qualifying for an SBA guarantee on direct loans made from our Small Business Growth Fund.

For immediate assistance, please contact our Business Development Manager, Mr. Stew Smith at 301.883.3610, or via email at jsmith@fscfirst.com.