The Level Up Program
African American businesses in Prince George’s County need to fund their operations, but some entrepreneurs have noted that sometimes traditional banks don’t provide the necessary support.FSC First, a financial nonprofit that was founded in 1978, has aided specifically minority, female, and veteran-owned businesses in the county to get that support.
One tool FSC First possesses to help businesses is its Level Up program.
Level Up provides businesses that it serves access to capital, training, coaching, mentoring, and networking opportunities.
“We seek to work with Prince George’s County businesses where they are,” said Dawn Medley, the president and CEO of FSC First.
Medley has worked for FSC First for 12 years and has served as its leader for one year. She said FSC First is working with many businesses who are struggling to deal with the ongoing effects of the coronavirus pandemic.
Medley said some business owners offer their customers good services and products, but their operations are not functioning well. These operational problems can cause businesses to lose out on financing opportunities, she said.
“Major problems include providing information on the business such as in past year tax returns and other documents needed for financing,” Medley said. “Their back office is not in order and that causes loan application issues. This is why we developed the Level Up program.”
Medley said Level Up helps businesses solve their root problems “so they can level up” to a loan.
She said potential loan recipients need not have perfect credit and FSC First collaborates with applicants to get the best financing it can offer.
“Our mission is to close the capital gap that many Prince George’s County businesses face,” she said. “We want to level the market and make it more equitable.”
Medley said in its years of operation, FSC has loaned $109.6 million to Prince George’s County businesses.
