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 6-2-3.9 - Terms of MBE Loan(s)
Universal Citation: MS Code of Rules 6-2-3.9
Current through September 24, 2024
The maximum term of the MBE loan shall be seven (7) years for working capital, ten (10) years for machinery and equipment, and fifteen (15) years for land and building. If loan proceeds are to be used for a combination of working capital, machinery and equipment, or land and building, then a blended term may be used that is proportionate to the use of the funds and to the collateral securing the loan.
Miss. Code Ann. § 57-69-5 (Rev. 2008)
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