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- EIN 52-1305988
- (301) 883-6900
- 1801 Mccormick Dr Ste 300 Uppr Marlboro MD 20774-5467 USA
- www.fscfirst.com
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Nonprofit Overview
Causes: Microfinance, Small Business Development
Mission: The organization is a private noprofit corporation designated as a certified development corporation by the us small business administration. The organization's principal business objective is to provide non-traditional funding sources to underserved markets.
Programs: Sbgf:the organization services and administers loans under the prince george's county small business growth fund. This is a revolving loan fund, capitalized with lines of credit from 12-15 fdic-insured lending institutions. The program provides direct loans to small and minority businesses in prince george's county. The program was recently expanded to calvert, charles, howard, and montgomery counties. Typically, these loans must qualify for the sba 7 (a)/community advantage guarantee. The organization is a designated sba 7(a) community advantage lender, which utilizes a $4 million revolving loan fund to make direct loans.
edi:the organization partners with the prince george's county economic development corporation in providing administrative and underwriting services for the economic development incentive (edi) fund related to prince george's county. The goal of the edi fund is to create jobs, support local businesses, and promote development opportunities.
sba 504:the organization markets, analyzes, underwrites, and services the sba 504 program as an agent of the sba. The sba 504 program provides long-term, below market fixed-rate financing for the purchase of improvements of commercial real estate or machinery and equipment.