FINANCING PROGRAMS
USDA RURAL DEVELOPMENT
BUSINESS AND INDUSTRY LOAN GUARANTEE
Loan guarantee up to $25 million to lenders for loans pertaining to business real estate, buildings, equipment, supplies, working capital, and debt refinancing. Lenders and borrower negotiate terms. Up to 30 years for real estate, 15 years for machinery and equipment, and 7 years for working capital.
- Loan guarantee for up to 80% of the loan should get your company a better interest rate from the lender.
Guarantee is up to 70% for loans between $5 and $10 million
Guarantee is up to 60% for loans between $10 million and $25 million
- Rural Business Development Loan and Grant program which is run through the local utility organisiotn
Money can be used for: Business expansion needs, fixed assets, real estate, buildings, equipment, or working capital
Up to $1.3 million may be requested ($300,000 grant and $1 million loan)
SBA
- Microloans
Maximum term is six years
Typical rates are between 8%-13%
Other loans available through local banks for assistance in acquiring, operating or expanding a business.
- Delta Regional Authority
MISSISSIPPI DEVELOPMENT AUTHORITY
Loans/grants made to the local community to provide public infrastructure to support your project.
DEVELOPMENT DISTRICTS (Call us to learn which district you are in)
- EDA Revolving Loan Fund
- Minority Business Enterprise Loan Program
- Mississippi Development Authority Small Business Assistance Program:
Fewer than 100 employees
Less than $2 million net worth
Less than $250,000 net annual profit after tax during two fo the last three years