Minority Business Enterprise Loan 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.
Eligible uses of loan proceeds include:
Program Facts
Job creation and the assistance to minority and women-owned businesses are the goals of the Minority Business Enterprise Loan Program. Industries that may apply include:
Loans made under the Minority Business Enterprise Loan Program may be made for a maximum of seven years for working capital, ten years for machinery and equipment and fifteen years for land and buildings. The maximum loan may not to exceed 50% of the total project or $250,000. The interest rate on these loans may range from 2% below to 2% above the Federal Reserve Discount Rate.
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.
Eligible uses of loan proceeds include:
- Land and buildings
- Working capital
- Machinery
- Equipment
Program Facts
Job creation and the assistance to minority and women-owned businesses are the goals of the Minority Business Enterprise Loan Program. Industries that may apply include:
- Manufacturers
- Warehouses and distribution centers
- Retail
- Mississippi Planning and Development Districts (PDDs)
- Small Business Investment Corporations
- Community Development Corporation
Loans made under the Minority Business Enterprise Loan Program may be made for a maximum of seven years for working capital, ten years for machinery and equipment and fifteen years for land and buildings. The maximum loan may not to exceed 50% of the total project or $250,000. The interest rate on these loans may range from 2% below to 2% above the Federal Reserve Discount Rate.
Mississippi Delta Developers Association • Frank Howell • PO Box 257 • Stoneville , MS 38776 • info@mdda.us • 662-686-3365
