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Prince George’s County Financing Community To Inject Millions Into The Economy

 

EDC President & CEO Jim Coleman shares the good news about economic development with the financing communityLargo, MD, March 23, 2017 - Yesterday, Prince George’s County Economic Development Corporation President and CEO, Jim Coleman, participated in a panel discussion hosted by FSC First. The ‘Economic Development and Bank Financing Forum’ provided a platform for leaders in economic development and bank financing to provide updates on exciting projects that are under way as a result of strategic lending partnerships between banks and financial institutions. These institutions provide both traditional and non-traditional loan options to local businesses. Mr. Coleman highlighted the fact that companies in Prince George’s County are looking to increase their financing to complete various projects during 2017.

“Together, we are creating high paying jobs!” said Coleman. “By coming up with creative ways to inject financing into Prince George’s County’s businesses, we not only grow our businesses, but we give our hard working citizens a chance to work in a high paying job. This year, we expect over 30% of companies to finance between $5,000 and $50,000 while almost half of our companies are looking to finance well over $50,000. This is a great opportunity for tools like the County’s Economic Development Incentive Fund to partner with FSC First and other dedicated banks to ensure the success of Prince George’s County’s business community!”

FSC First President and CEO, Shelly Gross-Wade, hosts the ‘Economic Development and Bank Financing Forum’ to provide a platform for the local financing community to share successes and opportunities with each other. In addition to Mr. Coleman, the panel included Prince George’s County Deputy Chief Administrative Officer, Tom Himler; Revenue Authority of Prince George’s County Chief Real Estate Officer, Donny Jones; Redevelopment Authority of Prince George’s County, Howard Ways; and U.S. Small Business Administration District Director, Antonio Doss. Ms. Gross-Wade, was excited to share the successes that FSC First and its partners have seen this year.

“We are extremely excited about all of the loan products that we are able to offer at FSC First,” said Gross-Wade. “I’m happy to announce that as of March 10th, FSC has cleared $10 million in loan approvals and we are looking forward to empowering more businesses throughout the course of this fiscal year. The success of the various projects in the County wouldn’t be possible without our partnership with participating banks.”

To learn more about the loan products available at FSC First, please visit www.fscfirst.com. For more information about the EDI Fund, please visit www.pgcedc.com.