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 6-2-3.6 - Borrower Investment Requirement for a New Business

When loan proceeds are used to start a new business or to purchase an existing business, the total project cost is the amount required to establish or acquire that business. The borrower must inject a minimum of five percent (5%) equity into the project in the form, of cash of tangible assets such as land, building or equipment.

Miss. Code Ann. § 57-69-5 (Rev. 2008)