Minority Business Micro Loan Program
The Minority Business Micro 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 assistance to minority and women-owned businesses are the goals of the Minority Business Micro Loan Program. Industries that may apply include:
The following entities are responsible for making the Minority Business Micro loans in conjunction with the Mississippi Development Authority.
Loans made under the Minority Business Micro Loan Program may be made for a maximum of seven years in amounts not to exceed a maximum of $35,000. The interest rate on these loans is 4% above the Federal Reserve Discount Rate.
The Minority Business Micro 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:
- Inventory purchase
- Working capital
- Machinery
- Equipment
Program Facts
Job creation and assistance to minority and women-owned businesses are the goals of the Minority Business Micro Loan Program. Industries that may apply include:
- Manufacturers
- Warehouses and distribution centers
- Retail
The following entities are responsible for making the Minority Business Micro loans in conjunction with the Mississippi Development Authority.
- Mississippi Planning and Development Districts (PDDs)
- Small Business Investment Corporations
- Community Development Corporations
Loans made under the Minority Business Micro Loan Program may be made for a maximum of seven years in amounts not to exceed a maximum of $35,000. The interest rate on these loans is 4% above the Federal Reserve Discount Rate.
Mississippi Delta Developers Association • Frank Howell • PO Box 257 • Stoneville , MS 38776 • info@mdda.us • 662-686-3365
