Mississippi Minority Business Enterprise (MBE) Loan Program
Mississippi Development Authority (MDA) — Minority and Small Business Development Division
$35,001–$250,000 (up to $500,000 with 50% match)
Researched for this program: 5 rejection traps · 5 required documentsWhat decides this award ↓
State loans for minority-owned firms
A state loan program from the Mississippi Development Authority providing financing to socially and economically disadvantaged minority- and women-owned businesses in the manufacturing, warehousing, distribution, and retail industries. The maximum loan is the lesser of 50% of total project cost or $250,000, and working-capital loans run up to seven years. Funds can be used to purchase land, to buy, build, or renovate buildings, to acquire machinery and equipment, or for working capital. The program is administered in partnership with Mississippi's regional Planning and Development Districts.
- Funding type
- Loan
- Level
- State
- Amount range
- $35,001 – $250,000
- Realistic amount
- Because the loan is capped at 50% of project cost, typical MBE loans range from tens of thousands of dollars up to the $250,000 ceiling, with the size scaling to the project and paired with other financing.
- Deadline
- Rolling — applications accepted year-round through MDA / the regional Planning and Development Districts.
- Status
- active
- States
- Mississippi
- Payment model
- loan
Who qualifies
- Firm must be at least 60% owned by socially and economically disadvantaged individuals (minority- or women-owned)
- Business must operate in manufacturing, warehousing, distribution, or retail
- Owner's net worth must be under $500,000 (excluding primary residence and equity in the business)
- Borrower must contribute a minimum 5% owner equity investment in the project
- Loan request cannot exceed the lesser of 50% of total project cost or $250,000 (up to $500,000 when paired with a 50% match from another lender/entity)
- Must demonstrate ability to repay; typically paired with other financing
Hard requirements
- Reserved for minority owned businesses
What it covers
Eligible expenses
- Land purchase
- Buying, building, or renovating buildings
- Machinery and equipment
- Working capital
Ineligible expenses
- Businesses outside the eligible industries
- Owner compensation beyond reasonable salary
- Costs unrelated to the approved project
How to apply
-
1
Confirm eligibility and assemble project costs
Verify minority/women ownership, the under-$500K net-worth test, and that your industry (manufacturing, warehousing, distribution, retail) qualifies. Total up project cost — the loan covers up to 50%.
~4 hrs
-
2
Contact MDA or your regional Planning and Development District
Reach the MDA Minority and Small Business Development Division (minority@mississippi.org) or your regional Planning and Development District, which often administers the loan, to request the application and qualifications document.
~3 hrs
-
3
Submit the loan application package
Provide business financials, projections, the project budget, ownership/disadvantaged-status documentation, and a personal financial statement demonstrating net worth under $500,000.
~8 hrs
-
4
Underwriting, approval, and closing
MDA / the PDD underwrites and approves the loan, then closes and disburses funds, typically alongside the borrower's other financing sources.
~3 hrs
Apply through your regional Mississippi Planning and Development District, not just MDA headquarters — the PDDs administer these loans locally and can walk you through the disadvantaged-status and net-worth documentation. Have your other 50% of financing identified before you apply, since the MBE loan is designed to be a partial-cost match.
Deadline & timing
No competitive cycle; the MBE loan is processed on a rolling basis. Applications are commonly routed through the borrower's regional Mississippi Planning and Development District.
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