FSC First

Access to capital for Prince George's County businesses for over four decades

InvestorSuburban Maryland

About FSC First

What it is

FSC First is the trade name for Prince George's Financial Services Corporation, founded in 1978 in Prince George's County to finance small businesses. It provides loans, loan administration for public and partner funds, and complementary management and technical assistance, counseling and training. The organization reports more than $185 million in direct loans and more than 14,000 jobs supported. Its office is at 1801 McCormick Drive, Suite 300, Upper Marlboro, MD 20774, in the Largo area.

What it offers founders

FSC First manages a set of loan funds with different sizes and rules. Highlights from its programs page:

Microenterprise Loan Program: $25,000 to $50,000 from Maryland DHCD funds for established businesses and feasible start-ups.
Small Business Thrive Fund: $25,000 to $350,000, up to $100,000 for start-ups, terms up to 10 years.
Commercial Line of Credit: $10,000 to $100,000 revolving credit for up to 3 years.
VLT Small Business Flex Fund: $25,000 to $250,000 of working capital from Maryland Department of Commerce video lottery terminal proceeds.
SBA 504 Commercial Real Estate Loan: up to $5.5 million for owner-occupied property.
Economic Development Incentive Fund: a $50 million Prince George's County fund with a $250,000 minimum loan for business attraction, retention and expansion.
Tech Grant: up to $10,000 for qualifying Prince George's County technology companies and startups.

It also administers the Green Energy Loan Program, C-PACE, the City of Bowie and Mount Rainier funds, the Healthcare Capital Fund, the Strive for 35 fund for natural gas industry suppliers and the Level Up technical assistance program.

Who it is for

Small and emerging businesses in Prince George's County and across Maryland, especially companies that need modest debt capital, working capital or real estate financing that banks may not provide. Several funds require operating history, and some are restricted to specific jurisdictions or industries.

How to apply

Gather and scan the pre-qualification documents first: personal financial statements and three years of tax returns for each 20 percent owner, business tax returns, financial statements, two-year projections and a business plan or executive summary. Then submit the full application or, if documents are incomplete, the intake form through the Apply page. FSC First says it responds within 5 business days and cannot process incomplete applications. Interest rates are set at underwriting. The office is open Monday to Friday, 8:30 AM to 5:00 PM, at 301-883-6900.

Why it matters in the DMV ecosystem

For Maryland founders who are past the idea stage but not a fit for venture capital, FSC First is the manager of many county, municipal and state small business loan funds serving Prince George's County, alongside its own SBA 504 lending.

Programs

Small Business Thrive Fund
Public-private revolving loan fund offering $25,000 to $350,000 (up to $100,000 for start-ups) with terms up to 10 years.
Microenterprise Loan Program (MD DHCD)
Loans of $25,000 to $50,000 for established businesses and feasible start-ups, with 2 to 5 year terms.
Commercial Line of Credit
Revolving credit of $10,000 to $100,000 for short-term and cash flow needs, up to 3 years with potential renewal.
VLT Small Business Flex Fund
Working capital loans of $25,000 to $250,000 funded by Maryland video lottery terminal proceeds, with terms up to 10 years.
SBA 504 Commercial Real Estate Loan
SBA-guaranteed financing up to $5.5 million for established businesses buying owner-occupied commercial property.
Economic Development Incentive (EDI) Fund
A $50 million Prince George's County fund for business attraction, retention and expansion, with a $250,000 minimum loan.
Small Business Capital and Growth Stimulus Fund Tech Grant
Grant of up to $10,000 for qualifying Prince George's County technology companies and startups looking to grow or hire.
Green Energy Loan Program
Loans, guarantees or loan loss reserves up to $250,000 for commercial building energy efficiency and renewable energy projects in Prince George's County.
Level Up Program
Access to capital, training, coaching, mentoring and networking for small businesses in Prince George's, Charles, Calvert and Montgomery Counties.

Who it serves

Small and emerging businesses in Prince George's County and elsewhere in Maryland seeking loans, lines of credit, real estate financing or small grants.

Frequently asked questions

Can a startup borrow from FSC First?

Some funds accept start-ups: the Microenterprise Loan Program covers feasible start-ups for $25,000 to $50,000, and the Small Business Thrive Fund lends up to $100,000 to start-ups. Other funds require several years of operating history.

What does a loan cost?

FSC First says interest rates are determined at underwriting. The programs page does not list fees.

How do I apply?

Prepare the pre-qualification documents, then submit the full loan application or the intake form online, by mail, fax or email. FSC First says it responds within 5 business days. Green Energy and C-PACE have separate applications.

Are there grants for tech startups?

Yes. The Small Business Capital and Growth Stimulus Fund Tech Grant provides up to $10,000 to qualifying Prince George's County technology companies and startups.

Where is FSC First and when is it open?

1801 McCormick Drive, Suite 300, Upper Marlboro, MD 20774. Hours are Monday to Friday, 8:30 AM to 5:00 PM. Phone 301-883-6900.