The Capital Improvements Revolving (CAP) Loan Program provides loans to municipalities and counties for the improvement of public facilities and infrastructure to assist with business locations and expansions with community-based projects.
County and municipal governmental authorities in Mississippi may apply for loans under this program.
Improvements in fire protection
Industrial access roads
Water supply systems (storage, treatment and distribution)
Remediation of Brownfield agreement sites
Warehouses and distribution centers
Research and development facilities
Telecommunications and data processing facilities
National or regional headquarters
Loans made under the Capital Improvements Revolving Loan Program may be made for a maximum of twenty years. The annual interest rate on these loans is 3% for taxable activities and 2% for tax-exempt activities.
For further details, see Section 57-1-301, MS Code 1972, Annotated.