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 6-11-3.5 - Eligible Loan Guaranty Financial Institutions
Current through September 24, 2024
All financial institutions must be preapproved by MDA before participating in the program. Eligible participating Financial Institutions must have operations in Mississippi and may include:
A. Commercial banks
B. Savings banks
C. Federal land banks
D. Farm credit banks, agricultural credit associations, or other farm credit agencies
E. Mississippi Planning and Development Districts
F. Community development corporations
G. Community development financial institutions
To be approved for participation in the program, an eligible financial institution must submit an Application for Participation to MDA. The application document and list of required attachments will be reviewed by MDA and considered for approval for participation in the program. An MDA-approved financial institution will be required to enter into the GCRF Loan Guaranty Program Agreement. This agreement establishes the terms and conditions of the program and obligates the lender to meet program requirements.
Miss. Code Ann. § 57-119-1, et seq.
