Mississippi Finance Programs
Key Finance Programs: Grants and Loans
Key Finance Programs 2008 (Mississippi Development Authority) (PDF, 183KB) This document produced by the Mississippi Development Authority includes:
•Grant and Loan Programs for Business Customers,
•Grant and Loan Programs for Mississippi Communities,
•Finance Programs available to industry, small business, and local political entities.
A summary of selected programs are available in the tables below.
Loans for Industry
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Name of Loan Program |
Summary Description |
Amount of Loan |
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Energy Efficiency Revolving Loan Program
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For increasing energy efficiency in buildings, equipment, and processes. |
Maximum $500,000 per business, up to ten years. Interest rate: 2% below prime. |
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For job retention and to improve productivity and competitiveness. Available to manufacturing industries operating in state for at least 2 years. Eligible projects include buildings, land improvements, and equipment. Read full details
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Maximum $500,000 per project with matching funds from industry. Interest rate based on the most recent issue of 20-year obligation bonds sold by Mississippi |
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For industry that has lost jobs or at risk of losing jobs due to outsourcing. Industry must have been in Mississippi for at least 3 years. Eligible projects include buildings, equipment, and land improvements. |
Maximum $750,000 per project with matching funds from industry. Maximum term is 10 years. Interest rate based on the most recent issue of 20-year state obligation bonds sold by Mississippi. |
Loans for Municipalities and Counties to Assist with Economic Development
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Name of Loan Program |
Summary Description |
Amount of Loan |
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For the improvement of airport facilities. |
Maximum $750,000.
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For the improvement of public facilities and infrastructure. |
Maximum $1,000,000 per project.
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For freight rail service projects. Available to counties and municipalities. |
Maximum $1,000,000 per project per calendar year. Annual interest rate is 1% below Federal Reserve Discount Rate at time of loan approval.
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For public infrastructure. Available to municipalities and counties to assist in expansion or location of businesses. |
Amount negotiated with Executive Director of Mississippi Development Authority. Not to exceed $15,000 per job created. Each dollar of state money must be matched by $3 of private investment by the business. Maximum loan term is 10 years.
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Available to state, county, or municipal port authorities to assist with location and expansion of businesses and to improve port facilities.
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Maximum $750,000 per project. Annual interest rate is 3%. |
Grants for Industry
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Name of Grant |
Summary Description |
Amount of Grant |
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For industry that has lost jobs or at risk of losing jobs due to outsourcing. Industry must have been in Mississippi for at least 3 years. Eligible projects include buildings and land improvements.
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Maximum $200,000 per project with matching funds from industry |
Grants for Municipalities and Counties to Assist with Economic Development
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Name of Grant |
Summary Description |
Amount of Grant |
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Community Development Block Grant Program (CDBG) for Economic Development |
Funds for publicly owned infrastructure. Can be used by municipalities and counties to assist with location, expansion, or retention of businesses. Minimum 51% of jobs created must be made available to persons of low to moderate income.
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Maximum $650,000 per project. |
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Community Development Block Grant (CDBG) Loan Program for Economic Development |
Funds for individual business needs. Can be used by municipalities and counties to assist with location, expansion, or retention of businesses. Minimum 51% of jobs created must be made available to persons of low to moderate income. |
Maximum $650,000 per project.Maximum term is 20 years. Interest rate set by the Executive Director of Mississippi Development Authority.
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Funds for publicly owned infrastructure. Can be used by municipalities and counties to assist with location or expansion of businesses.
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Maximum $150,000 per project. |
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Funds publicly owned roads. Can be used by municipalities to assist with location or expansion of businesses. |
Amount determined by Executive Director of Mississippi Development Authority |
**All information on this page is source from the North Mississippi Industrial Development Association.
To learn more about NMIDA, please CLICK HERE.