0 Articles
0 News
0 Properties
0 Page
0 Blog

Financial Resources

U.S. Small Business Administration (SBA)

The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist, and protect the interests of small businesses, to preserve free competitive enterprise, and to maintain and strengthen the overall economy. The SBA helps Americans start, build, and grow businesses through an extensive network of field offices and partnerships with public and private organizations. For more information, contact the Grenada County Economic Development District at (662) 229-9502 or visit the SBA website at http://www.sba.gov.

EXIM BANK (Export Import Bank)

With more than 80 years of helping finance the export of U.S. goods, primarily to emerging markets throughout the world, EXIM Bank financed an estimated $17 billion in U.S. exports in FY 2015.  Small business transactions made up nearly 90% of EXIM Bank authorizations and, dollar wise, more than 40% of the export value of EXIM-supported transactions directly benefiting small business.  For more information on how to use the resources offered through EXM Bank, contact the Grenada County Economic Development District at (662_ 229-9502 or visit the EXIM Bank website at http://www.exim.gov.

The Mississippi Business Finance Corporation (MBFC)

Industrial Development Revenue Bond Program
The Industrial Development Revenue Bond Program reduces the interest costs of financing projects for companies through the issuance of both taxable and tax-exempt bonds. Sales tax exemptions are granted for this type of public financing.  Ad valorem exemptions may be granted if approved by the appropriate city and county.

Mississippi Small Enterprise Development Finance Program (SED)
The Mississippi Small Enterprise Development Finance Program (SED) enables the Mississippi Business Finance Corporation (MBFC) to make loans to qualified private companies that will increase employment and investment in the State. The State of Mississippi issues general obligation bonds as the source of funding under the SED Program. The bonds are issued on a composite basis. The costs of issuance are prorated to each company participating in the issue, allowing companies to obtain tax exempt financing that would otherwise be unavailable due to prohibitive costs.  This program provides tax-exempt financing for small projects and gives banks in the state, which meet MBFC criteria, an opportunity to issue letters of credit to support these efforts. The combination of lower-than-market interest rates and a fixed term make this program an attractive alternative for projects requiring loans of $4 million or less. Sales tax exemptions are granted for this type of public financing.  Ad valorem exemptions may be granted if approved by the appropriate city and county.

Mississippi Loan Guaranty Program
The Mississippi Loan Guaranty Program, administered by the Mississippi Business Finance Corporation (MBFC) acting on behalf of the State of Mississippi, strengthens and builds the small business concept in the state by enabling small businesses to obtain term financing through the use of loan guarantees. As a result of the loan guarantee protection, lending institutions are more likely to provide financing not otherwise available to small businesses by substantially reducing their exposure in the event of defaults.

List of Financial Institutions in Grenada County
Regions Bank
State Bank & Trust
Cleveland State Bank
Renasant Bank
BancorpSouth
Guaranty Bank & Trust