Knowledge Is Power and Business
FSC First Host Small Business Lending Roundtable
In the midst of the pandemic, many small businesses faced a potentially fatal cash squeeze that not only impacted products and services but employment. Around the financial industry, a coalition of small businesses, entrepreneurs, and banking institutions are organizing to assist those looking to secure funding and getting back on track.
(L to R) Ron Stubblefield, Dawn Medley.
Recently, the FSC First Board of Directors hosted the organization's first Small Business Lending Roundtable event on November 17. Presented by Chairwoman of the Board, Diane Brown, the purpose of this event was for small business and resource partners alike to share their lending experiences with FSC First in an open and safe environment. FSC First was founded in 1978 in Prince George’s County to serve small businesses through the implementation of a specialized financial program.
Keynote speaker, Ron Stubblefield of Pacific Community Ventures shared his expertise on how historic practices of racism has impacted the Black and Latin business owner. "This was a really wonderful discussion we had here today," said Stubblefield. "To really speak to what we need to do to support minority-owned business owners, but [also] give a deeper understanding as to why we have these problems to begin with."
Rod Wheeler, Jennifer Ramos, April Richardson
Team members at FSC First also worked together to source a panel of 4 diverse FSC First borrowers who could share insight on their lending experiences with the organization. Moderated by FSC First's Senior Vice President of Business Financing Programs, Dawn Medley, the panel discussion included Rod Wheeler of ACEDMV, Jennifer Ramos of Jen's Contracting Group LLC, Jamila Logan of Navah Physical Therapy, LLC, and April Richardson of Food Opportunity, LLC.
"FSC asked us what they could do better," exclaimed Richardson. "How many times do you get a lender that actually wants to hear the criticism not only to write it down, but to implement it and do better.
