Grants and Loans

The Mississippi Development Authority offers a variety of grant and loan programs that help sustain Mississippi communities and enable them to improve quality of life in their areas. These programs provide funding to cities, counties and other entities in the state for projects that support community development and economic development projects, build capacity for future economic development opportunities, meet critical housing needs and help communities increase their competitiveness.

The Community Development Block Grant (CDBG) for Economic Development

The CDBG Economic Development Program is a grant program that is available to fund publicly owned infrastructure. Funding from this program can be used by municipalities and counties to assist with the location, expansion, or retention of businesses. Usage of the economic development grant funds must be directly related to the construction, renovation, or expansion of industry.

The Community Development Block Grant (CDBG) for Public Facilities

The federally-funded Community Development Block Grant program (CDBG) helps communities realize their potential by providing funds necessary to ensure basic community services, environmental quality and economic opportunities for their residents. In Mississippi, the CDBG program makes funds available to incorporated municipalities and county governments that show a genuine need for specific projects and can meet the program’s state and federal eligibility requirements.

The Local Government Capital Improvements Revolving Loan (CAP)

The CAP Loan Program provides loans to counties or municipalities to finance public infrastructure improvements in Mississippi in support of business location and expansion projects and other community-based projects. Local units of government are encouraged to use these loans in connection with other state and federal programs.

The Mississippi Development Infrastructure Program (DIP)

DIP provides grant assistance to counties or municipalities to finance small infrastructure projects that promote economic growth in the state of Mississippi. Counties and municipalities are encouraged to use these funds in connection with other state and federal programs.

The Emergency Solutions Grants (ESG)

The ESG Program provides assistance for the state’s homeless population through grants to local units of government and non-profit organizations for operations/maintenance and essential services of existing emergency shelter and rapid re-housing assistance.

The Mississippi Freight Rail Service Projects Revolving Loan Program (RAIL)

The RAIL Program provides loans to municipalities and counties to finance freight rail service projects in Mississippi. The program aims to increase rail usage and productivity in the state. Counties and municipalities are encouraged to use these funds in connection with other state and federal programs.

The HOME Program for Homebuyer Assistance (HOME)

The Homebuyer Assistance Program (Mississippi Home Corporation – Home Loan Plus) provides down payment and closing cost assistance to credit worthy families that are purchasing a home.

The HOME Program for Rehabilitation/Reconstruction (HOME)

The Homeowner Rehabilitation / Reconstruction Program is a competitive grant program that is available to provide assistance to families that are making major repairs or reconstructing their home to bring it up to Southern Standard Building Codes. Since HOME Program funds are limited, projects must compete for available funds. Rating criteria, amount of funding available, and application due dates are published annually.

The Mississippi Rural Impact Fund Program (RIF)

The Mississippi Rural Impact Fund Program (RIF) is designed to support job creation and promote economic development in rural areas of Mississippi by providing loans and grants to rural communities. A municipality with a population of 10,000 or less or a county with a population of 30,000 or less may apply for RIF assistance in support of a business location or expansion project.

The Small Municipal and Limited Population Counties Grant Program

The Small Municipal and Limited Population Counties Grant Program provides funds for publicly-owned infrastructure for community-based projects. Funding from this program can be used by small municipalities and counties to assist with public facilities and infrastructure needs.