21 Jan 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.