Financing Programs

A wide variety of loan programs are available to small, minority-, and women-owned businesses. Use the matrix below to find information about loan programs that may benefit your business.

Loan Programs Loan Terms Use of Funds Comments
MS Minority Business

Enterprise Loan Program

Target: Minority & Women-owned businesses

Maximum amount: $250,000

50% financed with up to 15 years to repay at 4.75% fixed rate

  • Fixed assets
  • Inventory
  • Working capital
Loans are made through the PDD’s statewide. Must also meet state certification requirements.

Contact: Minority & Small Business at 601.359.3448

MS Minority Business

Micro Loan Program

Target: Minority & Women-owned businesses

Maximum amount: $35,000

100% financed with up to 7 years to repay at 6.75% fixed rate

  • Fixed assets
  • Inventory
  • Working capital
Loans are made through the PDD’s statewide. Must also meet state certification requirements.

Contact: Minority & Small Business at 601.359.3448

MS CAP (Capital Access Program)

Target: Small businesses

Maximum amount: $150,000

3.5 matched by financial institution; MDA match both institution and business.

  • Fixed assets
  • Inventory
  • Working capital
  • Start-up Costs
Must demonstrate credit-worthiness and the ability to repay the loan; no defaults on other loans.

Contact: Minority & Small Business at 601.359.3448;

Small Business Fund of MS (SBCAP) at 601.713.3322

MS Capital Access

Contract Loan Program

Target: Small businesses

Maximum amount: $75,000 or 75% of contract whichever is less.

0% interest with the length of the contract to repay

  • Pay off existing debt
  • Working capital for the contract
MDA may, at its discretion, require control of use and disbursement of funds. Applicant responsible for fees attached to this loan.

Contact: Minority & Small Business at 601.359.3448;

Small Business Fund of MS (SBCAP) at 601.713.3322

Economic Development

Adm. Revolving Loan

Target: Small businesses

Maximum amount: $200,000

33% financed with up to 15 years to repay at 9% fixed rate

  • Fixed assets
  • Inventory
  • Working capital
Loans are made through the Central MS Planning and Development District (CMPDD)

Contact:

CMPDD at 601.981.1511 ext. 254

MS Energy Investment Program

Target: Small businesses

Maximum amount: $15,000 – $300,000 100% financed with up to 15 years to repay at 3% below prime
  • Energy conserving
  • efficient capital improvements
Borrower must be declared financially sound, have adequate collateral and pay closing fee

Contact: MDA Energy and Natural Resources at 601.359.6600

Minority Capital Fund

of MS, Inc. (MINCAP)

Target: Start-up and existing businesses

Maximum amount: $5,000 – $250,000 100% financed with up to 15 years to repay
  • Fixed assets
  • Inventory
  • Working capital
  • Machinery and equipment
  • A & R
  • Construction loan financing
  • Real estate financing
5% equity investment and collateral for the loan is required

Contact: Small Business Fund of MS (SBCAP) at 601.713.3322

MS Small Business Assistance Loan

Target: Small businesses

Maximum amount: $100,000

50% financed with up to 15 years to repay at 4% above federal discount rate

  • Fixed assets
  • M & E
  • Inventory
  • Working capital
1% closing fee due by borrower; collateral negotiable

Contact:

CMPDD at 601.981.1511 ext. 254

USDA Rural Development Business and Industry Guaranteed Loans

Target: Small rural businesses

Maximum amount:

$25 million

Up to 80% guarantee loan made by commercial lender

  • Working capital
  • Machinery and equipment
  • Buildings
  • Real estate
Helps create jobs and stimulates economies in rural communities

Contact: USDA Rural Development at 662.323.8031

Enterprise Corporation

of the Delta (ECD)

Target: Small businesses

Maximum amount: $5,000 – $2 million 100% financed with up to 15 years to repay at 1 – 3% above prime
  • M & E
  • Real estate
  • Working capital
Provide lines of credit, term loans and letters of credit and other primary lending products

Contact: William Bynum at 601.944.1100

MS Agribusiness Enterprise Loan

Target: Agriculture-related businesses

Maximum amount: 20% of total project cost or $200,000 (whichever is less)

up to 15 years 0% on ABE portion of loan

  • Buildings
  • Equipment
  • Appraisals
  • Title searches
Cannot be used to buy land, working capital or to pay off existing debts. 1% closing fee due by borrower

Contact: MDA Financial Resources at 601.359.3552

SBA Regular 7(a) and PLP

Target: For-profit businesses

Maximum amount: $2 million gross ($1.5 million guaranty)

Financing: 85% for $150,000 or less gross 75% for up to $1.5 million at 2.25% over prime for 7 years or less and 2.75% for 7 years or more

  • Expansion / renovation
  • New construction
  • Land or buildings
  • M & E
  • Working capital
  • Refinance debt for compelling reasons
  • Inventory
Guaranty fees are assessed for loan; show good character, credit and management abilities to repay loan

Contact: MS SBA District Office at 601.965.4378

SBA Community Express Loan 

Target: Small office / home office

Maximum amount: $50,000

100% financed with up to 7 years to repay

  • Working capital
Requires owner(s) to have good to excellent credit and completion of a one-page application

Contact: CMPDD at 601.981.1511

SBA CAP Lines

Target: Existing businesses

Maximum amount: $million (small asset based limited to $200K)

Financing: 50% for $150,000 or less gross 75% for up to $1.5 million at 2.25% over prime for 7 years or less and 2.75% over prime for 7 years or more with up to 15 years to repay at 4.75% fixed rate

  • Seasonal working capital needs
  • Construction costs
  • Advances against existing inventory and receivables
  • Debt consolidation
Short term, RLC’s, seasonal

contract builders

Contact: CMPDD at 601.981.1511

SBA International Trade

Target: Small businesses engaged in international trade

Maximum amount: $2 million

Financing: 75% if total loan is more than $150K, 85% if total loan is $150K or less with up to 15 years to repay

  • Fixed assets
  • Inventory
  • Working capital
Loans are made through the PDD’s statewide. Must also meet state certification requirements.

Contact: MS SBA District Office

at 601.965.4378