Mississippi Administrative Code
Title 6 - Economic Development
Part 11 - Mississippi Gulf Coast Restoration Fund Program
Chapter 3 - GCRF Loan and Loan Guaranty Program Rules & Regulations
Rule 6-11-3.12 - Loan Terms and Conditions
Universal Citation: MS Code of Rules 6-11-3.12
Current through September 24, 2024
A. The borrower must inject a minimum of ten percent (10%) equity into the project.
B. The minimum loan amount is $250,000.
C. The term of the loan shall be the determined useful life of the asset to be financed or up to twenty (20) years, whichever is less.
D. The rate of interest on the loan will be at a fixed rate. MDA will determine the interest rate of a loan on a project-by-project basis based on a review of the application.
Miss. Code Ann. § 57-119-1, et seq.
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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