Minority Business Enterprise Loan Program (MBE)

The Minority Business Enterprise Loan Program provides loans to socially and economically disadvantaged minority and women-owned businesses as designated by the Minority and Small Business Development Division of the Mississippi Development Authority.

ELIGIBLE USES OF LOAN PROCEEDS INCLUDE

  • Land and buildings
  • Working capital
  • Machinery
  • Equipment

PROGRAM FACTS

Job creation and the assistance to minority and women-owned businesses are the goals of the Minority Business Enterprise Loan Program. Industries that may apply include:

  • Manufacturers
  • Warehouses and distribution centers
  • Retail

The following entities are responsible for making the MBE loans in conjunction with the Mississippi Development Authority.

  • Mississippi Planning and Development Districts (PDDs)
  • Small Business Investment Corporations
  • Community Development Corporation

LOAN TERMS

Loans made under the Minority Business Enterprise Loan Program may be made for a maximum of seven years for working capital, ten years for machinery and equipment and fifteen years for land and buildings. The maximum loan may not exceed 50% of the total project or $250,000. The interest rate on these loans may range from 2% below to 2% above the Federal Reserve Discount Rate.

For further details, see the Minority Business Enterprise Loan Program Guidelines, Minority Business Enterprise  Loan Program  Application, and Section 69-2-13(4), MS Code 1972, Annotated.