About the Loan Division
Three Rivers Planning & Development District’s Loan Division fosters financial growth by way of the administration of varied small enterprise loan packages. Three Rivers’ Small Business Loan Programs are designed to supply low prices, low fastened charges, and long-term financing for eligible small companies in our eight-county area. The packages make the most of a public-private partnership between industrial lenders and Three Rivers to help small companies with each start-up and enlargement wants. The packages are designed to be helpful to each the small enterprise and the personal sector lenders who take part. Three Rivers workers work with the personal sector lender and small enterprise to supply full loan packaging providers.
Advantages to the Small Business
- Low fairness injection necessities enable for 90% to 95% financing which allows a small enterprise to protect its working capital by maintaining money to develop the busines
- Low fastened rates of interest present for steady future occupancy value
- Long-term financing retains the month-to-month debt service reasonably priced and fixed, regardless of how the economic system performs. Loan maturity is predicated on the helpful lifetime of belongings being financed.
Small Business Loan Programs
- Intermediary Relending Program (IRP): Three Rivers makes fastened asset, stock, and dealing capital loans as much as $250,000.
- Minority Business Loan Fund (MBLF): Three Rivers makes fastened asset, stock, and dealing capital loans as much as $250,000 to eligible minority companies.
- Mississippi Small Business Assistance Loan Fund (MSBAP): Three Rivers makes fastened asset, stock, and dealing capital loans as much as $250,000 per enterprise. This program is the results of the Mississippi Small Business Assistance Act of 1993 and is run by the Mississippi Development Authority.
- Revolving Loan Fund (RLF): Three Rivers makes fastened asset, stock, and dealing capital loans as much as $200,000. This program requires not less than one job per $20,000 of venture financing.
- U.S. Small Business Administration 504 Loan Program: Three Rivers has been designated by the Small Business Administration as a licensed growth firm to work with small companies and personal lenders to provoke loans beneath the 504 Loan Program. The most SBA 504 loan quantity is $5,000,000 with a most participation to not exceed 40% of the venture value. The SBA 504 Loan Program is for the acquisition and use of long-term fastened belongings comparable to land, buildings, and sure gear. The program requires the creation or retention of not less than one job per $50,000 of financing. Three Rivers doesn’t cost the usual 1.5% processing payment and its service space consists of all 82 counties within the State of Mississippi.
Please click on on the hyperlinks beneath for additional data concerning Three Rivers’ Small Business Loans Programs:
Small Business Loan Programs Brochure
Small Business Loan Programs Reference Guide Chart
Small Business Loan Programs Presentation
Three Rivers Planning & Development District Loan Application (Fillable Word Document)
Three Rivers Planning & Development District Loan Application (Non-Fillable PDF Document)
The Mississippi Development Authority’s Minority and Small Business Development District goals to help the state’s minority- and women-owned companies achieve long-term progress and success. Visit their web site to use for certification and obtain different precious assets. www.mississippi.org/minority-certification