Areas Served: Covington, Forrest, George, Greene, Hancock, Harrison, Jackson, Jefferson Davis, Jones, Lamar, Marion, Pearl River, Perry, Stone and Wayne Counties.
The Southern Mississippi Planning and Development District (SMPDD) Business Development staff operates three financing programs that enhance economic development in the 15 county region (Covington, Forrest, George, Greene, Hancock, Harrison, Jackson, Jefferson Davis, Jones, Lamar, Marion, Pearl River, Perry, Stone and Wayne Counties.
) which it serves: the Economic Development Administration (EDA) Revolving Loan Fund; the Mississippi Small Business Assistance Loan Program; and the Minority Business Enterprise Loan Fund.
These revolving loan funds will not finance 100% of total project costs.
Leverage from financial institutions or private investors is required.
The purpose of these Revolving Loan Funds is to finance new and expanding businesses that otherwise would not be able to obtain conventional financing.
SMPDD does not compete with conventional financial institutions.
Ability to repay, credit worthiness, collateral and other normal lending factors weigh in the loan approval process.
These programs are dependent on the repayment of existing loans in order to replenish the RLF for re-lending to other qualifying businesses.
The primary goal of the EDA Title IX Revolving Loan Fund is to create or save jobs by making capital available for fixed and/or operating expenses.
The objective of the loan program is to create new permanent full-time job opportunities, provide sufficient capital for high risk ventures, make available assistance to minority and disadvantaged business owners, and continue the diversification for the business and industry sectors in the 15 county area.
Contact InformationSouthern Mississippi Planning and Development District
Address: 9229 Highway 49
City: Gulfport
State: Mississippi
Website:
http://www.smpdd.com
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