Mississippi Administrative Code
Title 6 - Economic Development
Part 9 - Economic Development Division
Chapter 4 - Small Business Loan Guarantee Program
Rule 6-9-4.7 - Guarantee Percentage

Universal Citation: MS Code of Rules 6-9-4.7
Current through September 24, 2024

The percentage of the loan guarantee will be determined by the type of loan, and the risk profile of the loan. To determine the percentage of guarantee approved for each loan, the guarantee application will be reviewed by the MDA's Small Business Loan Guarantee Review Committee. The committee will consider credit history, experience and history of the borrower, collateral coverage, and job creation in its evaluation and will set the guarantee percentage based on these factors.

Loans for working capital, lines of credit, and accounts receivable will be eligible for a loan guarantee of sixty percent (60%).

Loans to finance fixed assets, such as equipment and real estate, will be eligible for a loan guarantee of up to eighty percent (80%).

Miss. Code Ann. § 57-10-601; 12 USC § 5701 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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.