The state government has resources for small businesses, including a guiding document for opening up in Mississippi. The Mississippi Development Authority also has a range of resources for entrepreneurs across the state, from lists of microloans to startup incubator networks. Innovate Mississippi is a great non-profit that helps inventors, startups, and other small business ventures focused on innovation and technology.

The Mississippi Gulf Coast Chamber of Commerce regularly offers small grants for entrepreneurs located in Mississippi. USGrants.org is a great place to check often for small business grants, especially if your Mississippi business works in childcare or wildlife management. The City of Jackson has grants available to local businesses, especially those that remain impacted by challenges that resulted from the pandemic.

Which loan is right for my Mississippi business?

Choose business financing that will support your company’s expansion goals, but also has manageable repayment terms. You can explore your many options by using Lendio’s easy-to-use and free online platform.

Because Mississippi has such a low cost of living and business tax rate, each business loan dollar can go further than it could in a more expensive state. Therefore, a commercial loan can help your company expand more in Mississippi.

An SBA preferred lender is a lender that’s been approved by the Small Business Administration to administer SBA loans without additional approvals from the SBA. Typically these lenders have years of experience and can approve SBA loans faster than non-preferred lenders.

SBA loans are backed by the government and offer lower interest rates than other types of small business loans. They typically require a minimum time in business of two years and credit score of 650+.