SSBCI Mississippi — Small Business Credit Initiative

SSBCI Mississippi — Small Business Credit Initiative

Provides Mississippi firms with federal-backed loans, guarantees, and equity to expand credit access for startups and growth companies.

Mississippi's State Small Business Credit Initiative (SSBCI) allocation is approximately $86 million drawn from the American Rescue Plan Act of 2021, administered by the Mississippi Development Authority (MDA) to expand small business credit access and promote equitable economic recovery. The program operates through five sub-programs with distinct structures and administrators: the Mississippi CDFI Small Business Loan Fund ($45 million in loan participation capital deployed to non-depository community development financial institutions); the Small Business Loan Guarantee Program ($15 million in guarantees to banks and small business lenders); the InvestMS Venture Capital Program ($15 million in equity investments into VC funds supporting Mississippi startups, administered by Innovate Mississippi); the InvestMS Direct Investment Program ($11 million in direct pre-seed to Series A equity investments, also administered by Innovate Mississippi); and a Technical Assistance Program delivered by the Mississippi Small Business Development Center.

For startups seeking direct investment, the InvestMS Direct Investment Program provides up to $3 million per deal with a $1 million SSBCI match requirement; remaining fund capacity offers a maximum SSBCI match of $500,000. A qualified lead investor must participate — SSBCI capital does not serve as the lead. Eligible recipients include for-profit and nonprofit small businesses and startups operating in Mississippi. There are no sector restrictions. The program is continuously open and does not operate on a competitive cycle; it accepts applications until the full $86 million allocation is depleted, expected through approximately 2030.

To access InvestMS direct investment, applicants engage Innovate Mississippi through the InvestMS portal at investms.ms. Technical assistance for the application process is available through the ConnectMS SSBCI program at connectms.org/ssbci, targeting socially and economically disadvantaged businesses. General inquiries are handled by MDA at locateinms@mississippi.org.