Small Business Loan Guaranty Program

Small Business Loan Guaranty Program

Program Name: Small Business Loan Guaranty Program

Resource Type: State

State: Mississippi, Gulf of Mexico

Agency: Program Source: Loan

Description: Created as part of the Small Business Jobs Act of 2010, the State Small Business Credit Initiative (SSBCI) was designed by the federal government to help increase credit availability for small businesses. As a result of the Act, $1.5 billion of federal funds were allocated by Treasury. This funding was made available to all states, territories, and eligible municipalities to create or expand small businesses. SSBCI has allocated $13,168,350 to the State of Mississippi, which is administered by the Mississippi Development Authority (MDA) under the Small Business Loan Guaranty Program.