Minority & Small Business Loans

Designed to increase the availability of financing for businesses with fewer than 50 full-time employees or socially and economically disadvantaged businesses as designated by the U. S. Small Business Act by providing loans to eligible borrowers who have contracts with public entities and who, for various reasons, might have difficulty in obtaining conventional loans.

Provides access to capital for small businesses by providing loan guarantees to banks and other small business lenders. The SBLGP encourages lenders to make term loans or provide lines of credit to new or existing small businesses in a difficult credit environment to help with the development, expansion and retention of Mississippi’s small businesses.

Encourages the extension of conventional financing, and issues letters of credit by private institutions, to qualified enterprises in the state of Mississippi. Through this program, MDA provides low-interest loans to qualified small businesses or existing companies in the forestry industry.

Provides socially and economically disadvantaged minority businesses with technical assistance throughout the construction bonding process and provides eligible businesses with a bond guarantee where necessary. The program aims to increase minority participation in construction and building trade contracts with federal, state and local units of government.

Provides loans to socially and economically disadvantaged minority- and women-owned businesses as designated by the Mississippi Development Authority’s Minority and Small Business Development Division.

The maximum loan amount is $35,000.

Provides loans to socially and economically disadvantaged minority- and women-owned businesses as designated by the Mississippi Development Authority’s Minority and Small Business Development Division.