MDA Minority & Small Business Loan Programs

MDA Minority & Small Business Loan Programs

Provides Mississippi statutory loan and surety programs for minority-owned, women-owned, and disadvantaged small firms.

The Mississippi Development Authority (MDA) administers a suite of six statutory loan and surety bond programs for small businesses, with a particular focus on minority-owned, women-owned, and socially and economically disadvantaged entrepreneurs operating in Mississippi. The programs are continuously open — there are no competitive cycles or application deadlines — and are established under Mississippi statute rather than periodic legislative appropriation.

The six programs are: the Capital Access Contract Loan Program (for businesses with fewer than 50 employees, or disadvantaged businesses holding contracts with public entities, that face difficulty obtaining conventional loans); the Small Business Loan Guaranty Program (provides loan guarantees to lenders for new or existing small businesses); the Small Business and Existing Forestry Industry Loan Program (low-interest loans for qualified small businesses or existing forestry companies in Mississippi); the Minority Surety Bond Guaranty Program (supports construction bonding for socially and economically disadvantaged minority businesses to increase their participation in construction contracts); the Minority Business Micro Loan Program (provides micro loans up to $35,000 to minority- and women-owned disadvantaged businesses); and the Minority Business Enterprise Loan Program (broader loan access for minority- and women-owned disadvantaged businesses).

All programs are for-profit only; universities, nonprofits, research organizations, and individuals are not eligible. Specific loan amounts beyond the $35,000 micro loan cap are determined by MDA on a case-by-case basis and require direct contact with the agency. Applicants should call MDA at (601) 359-3449 for current availability, amounts, and application guidance.