Small Enterprise Development Finance Program (Mississippi)

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Last modified on February 12, 2015.

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Place Mississippi

Applies to County Adams County, Mississippi;Amite County, Mississippi;Attala County, Mississippi;Claiborne County, Mississippi;Choctaw County, Mississippi;Clarke County, Mississippi;Copiah County, Mississippi;Covington County, Mississippi;Forrest County, Mississippi;Franklin County, Mississippi;George County, Mississippi;Greene County, Mississippi;Hancock County, Mississippi;Harrison County, Mississippi;Hinds County, Mississippi;Holmes County, Mississippi;Humphreys County, Mississippi;Jackson County, Mississippi;Jasper County, Mississippi;Jefferson County, Mississippi;Jefferson Davis County, Mississippi;Jones County, Mississippi;Kemper County, Mississippi;Lamar County, Mississippi;Lauderdale County, Mississippi;Lawrence County, Mississippi;Leake County, Mississippi;Lincoln County, Mississippi;Lowndes County, Mississippi;Madison County, Mississippi;Marion County, Mississippi;Neshoba County, Mississippi;Newton County, Mississippi;Noxubee County, Mississippi;Oktibbeha County, Mississippi;Pearl River County, Mississippi;Perry County, Mississippi;Pike County, Mississippi;Rankin County, Mississippi;Scott County, Mississippi;Simpson County, Mississippi;Smith County, Mississippi;Stone County, Mississippi;Walthall County, Mississippi;Warren County, Mississippi;Wayne County, Mississippi;Wilkinson County, Mississippi;Winston County, Mississippi;Yazoo County, Mississippi
   

Name Small Enterprise Development Finance Program (Mississippi)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive, Loan Program, Sales Tax Incentive
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy
Active Policy Yes

Implementing Sector Non-Profit



























Program Administrator Mississippi Business Finance Corporation
Primary Website http://www.msbusinessfinance.com/programs/mississippi-small-enterprise-development-finance-program-sed/
Applicable Jurisdiction Counties designated in Gulf Opportunities Act of 2005(Adams; Amite; Attala; Claiborne; Choctaw; Clarke; Copiah; Covington; Forrest; Franklin; George; Greene; Hancock; Harrison; Hinds; Holmes; Humphreys; Jackson; Jasper; Jefferson; Jefferson Davis; Jones; Kemper; Lamar; Lauderdale; Lawrence; Leake; Lincoln; Lowndes; Madison; Marion; Neshoba; Newton; Noxubee; Oktibbeha; Pearl River; Perry; Pike; Rankin; Scott; Simpson; Smith; Stone; Walthall; Warren; Wayne; Wilkinson; Winston and Yazoo)


Last Review 2014-09-15


Information Source http://www.mississippi.org/mda-library-resources/finance-tax-info/gulf-opportunity-zone-act-of-2005.html


Summary

The Mississippi Small Enterprise Development Finance Program (SED) enables the Mississippi Business Finance Corporation (MBFC) to make loans to qualified private companies that will increase employment and investment in the State. The State of Mississippi issues general obligation bonds as the source of funding under the SED Program. The bonds are issued on a composite basis. The costs of issuance are prorated to each company participating in the issue; allowing companies to obtain tax exempt financing that would otherwise be unavailable due to prohibitive costs.

This program provides tax-exempt financing for small projects; and gives banks in the State; which meet MBFC criteria; an opportunity to issue letters of credit to support these efforts. The combination of lower than market interest rates and a fixed term make this program an attractive alternative for projects requiring loans of $4 million or less. Sales tax exemptions are granted for this type of public financing. Other tax incentives; such as those through the Mississippi Rural Economic Development Assistance Program (RED). Ad valorem exemptions may be granted if approved by the appropriate city and county.



Policy Contact

Contact Name Bill Barry
Department Mississippi Business Finance Corporation
Division Treasurer/Executive Director
Address 735 Riverside Drive Suite 300; Jackson; Mississippi; 39202

Place Jackson Offices

Phone 601-355-6232


Email bbarry@mbfc.cc

Contact Name Cindy Carter
Department Mississippi Business Finance Corporation
Division Secretary and Senior Finance Officer







Email ccarter@mbfc.cc

     

Authorities (Please contact the if there are any file problems.)

Authority 1: Mississippi Business Finance Corporation under the Mississippi Small Enterprise Development Program (SED) found in Chapter 71 of Title 57 of Mississippi Code of 1972; as amended
Date Effective 2010



















References