About this programme
The Small Business Loan Guaranty Program (SBLGP) gives Mississippi small businesses access to capital by having the state guaranty loans made by banks and other lenders, rather than lending money itself. It encourages lenders to make term loans or extend lines of credit to new and existing small businesses in a difficult credit environment, to support the development, expansion and retention of Mississippi small businesses.
The program traces back to the federal State Small Business Credit Initiative, created under the Small Business Jobs Act of 2010 to help increase credit availability for small businesses. The U.S. Treasury made $1.5 billion available to states, territories and eligible municipalities under that initiative, and Mississippi received $13,168,350 of it, which the Mississippi Development Authority (MDA) used to create the SBLGP.
How it works
The minimum loan is $50,000, and loans go up to $500,000 or 50 percent of the total project cost, whichever is less.
MDA can guaranty up to 50 percent of a loan used for working capital or a line of credit, and up to 80 percent of a loan used to finance fixed assets.
The loan term matches the participating lender's term, up to a maximum maturity of 15 years. Interest is charged on the loan guaranty itself, and interest and payment terms on the underlying loan are negotiated between the lender and the small business.
Who can apply
A new or existing small business in Mississippi employing fewer than 250 full-time employees, with less than $7,000,000 in gross revenues or $1,000,000 in profit after taxes, or a Mississippi non-profit organization using the financing for a business purpose.
The applicant must apply through a participating bank or other small business lender rather than directly to MDA.
How to apply
- Contact MDA's Financial Resources Division at 601.359.3552 or financial@mississippi.org for information on applying.
- Apply for the underlying loan or line of credit through a participating financial institution, which requests the SBLGP guaranty.
Frequently asked
What can SBLGP-backed loan proceeds be used for?
Acquiring, renovating or expanding buildings, acquiring machinery and equipment, working capital, or other eligible business purposes.
How large a guaranty does MDA provide?
Up to 50 percent of the loan for working capital or a line of credit, and up to 80 percent for loans used to finance fixed assets.
What size of business qualifies?
Fewer than 250 full-time employees, and less than $7,000,000 in gross revenues or $1,000,000 in profit after taxes. Mississippi non-profits using the financing for a business purpose also qualify.
Who sets the interest rate?
Interest and payment terms on the underlying loan are negotiated between the participating financial institution and the small business; interest is also charged on the SBLGP guaranty itself.
What's the loan size range?
A minimum of $50,000, up to $500,000 or 50 percent of total project cost, whichever is less.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.