Mississippi Administrative Code
Title 6 - Economic Development
Part 2 - Community Foundations COVID-19 Grant Program
Chapter 3 - Minority Business Enterprise Loan (MBE) and Micro-Loan (MBEM) Programs
Rule 6-2-3.16 - Proper Use of MBE Micro-Loan Funds
Universal Citation: MS Code of Rules 6-2-3.16
Current through September 24, 2024
MBE Micro-Loan funds may be used to finance up to 100% of total projects of $2,000 to $35,000. All borrowers must have at least 5% equity in the project. These funds are not intended to be used as gap financing and proceeds shall not be utilized with any other financing.
Miss. Code Ann. § 57-69-5 (Rev. 2008)
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