Business Development (EDA)
Economic Development Administration (EDA) Revolving Loan Fund. The EDA revolving loan fund is administered under the name of Business & Industrial Finance Network by NCPDD. A maximum Loan of $350,000 not to exceed 33% of the total project cost per client is allowed in order to provide financing for fixed assets, equipment & machinery, and working capital financing through partnership with Other Public Lending Resources (ACEDP, ADFA, etc.). To date, over 55 projects have been successful due to partnered resources, accounting for over $4.68 million and 1,457 jobs.
Minority Business Enterprise Program (MBE)
The Minority Business Enterprise Loan Program provides loans to socially and economically disadvantaged minority and women-owned businesses as designated by the Minority and Small Business Development Division of the Mississippi Development Authority. Maximum Loan: 100% of the total project not to exceed $35,000 for (MICRO). Regular MBE loans may not exceed 50% of the total project or $250,000.
MS Small Business Assistance Loan Program (MSBALP)
To be eligible for assistance, a small business must be a commercial enterprise with fewer than 100 full-time employees, less than $2 million dollars in net worth or less than $350,000 in net annual after tax profits during two of the last three years. The business must provide evidence that it will create or retain jobs.
Maximum Loan: May not exceed 50% of the total project or $250,000.