Revolving Loan Program
Funding Amount
Up to $500,000
Deadline
Rolling / Open
Grant Type
foundation
Overview
Revolving Loan Program
Funder: Southern Mississippi Planning and Development District (SMPDD)
Overview: SMPDD promotes economic development through loan programs designed to supplement other financing sources. This program provides funding for a portion of borrowed funds for projects to start new businesses or expand existing businesses.
- Real estate
- Machinery and equipment
- Inventory
- Working capital
- Job creation or retention
Eligible Uses
- Real estate: 15 years
- Machinery and equipment: 10 years
- Inventory/working capital: 5 years
Loan Terms
- SMPDD can provide stand-alone financing or partner with banks to provide supplemental financing
- Maximum loan amount: $500,000
Financing Structure
- Investment property
- Non-profits
- Refinancing
- Unsecured financing
Exclusions
Geographic Scope
Southern Mississippi region- Ronnie Emile, Loan Program Manager: remile@smpdd.com
- Marvin Dickey, Special Project Manager, EO Officer: mdickey@smpdd.com
- Phone: 1-228-868-2311 or 1-800-444-8014
- Gulfport Office: 10441 Corporate Drive Suite 1, Gulfport, MS 39503
- Hattiesburg Office: 914 Sullivan Drive, Hattiesburg, MS 39401
Contact Information
How to Apply
Application Process
1. Contact the Loan Program Manager for information and application materials
2. Complete application form (available upon request)
3. Submit required documentation
4. SMPDD will establish partnership with commercial bank if needed
5. Loan processing and approval
- Ronnie Emile, Loan Program Manager: remile@smpdd.com
- Phone: 1-228-868-2311 or 1-800-444-8014
Contact for Application
Focus Areas & Funding Uses
Fields of Work
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