Mississippi is located in the southeastern United States and is bordered by the Mississippi River. As of 2019, the state has a population of 2,976,149. The state's economy is primarily based on agriculture, manufacturing, and tourism. Mississippi is the 32nd most populous state in the US and the 34th largest in terms of land area.
The state's economy is largely based on agriculture, with crops such as cotton, soybeans, and rice being major products. Manufacturing is also a significant part of the economy, with products such as automobiles, chemicals, and lumber being produced. Tourism is also an important industry in Mississippi, with attractions such as casinos, golf courses, and historical sites.
Small businesses are a vital part of the economy in Mississippi. There are over 300,000 small businesses in the state, which account for 99.6% of all businesses in Mississippi. Small businesses employ over 50% of the state's workforce.
The state of Mississippi offers a variety of programs and resources to help small businesses succeed. The Mississippi Development Authority offers loans, grants, and technical assistance to small businesses. The Small Business Administration also has a presence in Mississippi, providing loans, counseling, and other resources to small businesses.
Comparing SBA loan types in Mississippi
Three SBA programs come up most often for Mississippi businesses, and they do different jobs.
SBA 7(a) loan: program overview
Maximum loan
$5 million (sba.gov, fetched 2026-07-24)
What it funds
Working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and business acquisition.
Who lends
Participating banks and non-bank lenders. The SBA guarantees a portion of the loan; it does not lend directly to borrowers.
Rate structure
Negotiated between lender and borrower, capped at the SBA maximum. Most 7(a) loans price off the WSJ prime rate plus a spread.
Personal guaranty
Required from every owner of 20% or more of the business (13 CFR 120.160(a)).
Program facts confirmed against sba.gov/funding-programs/loans/7a-loans on Jul 24, 2026. Confirm current fees and maximum rates with your lender before relying on them.
SBA 504 loan: program overview
Maximum loan
$5.5 million per the SBA-backed debenture (sba.gov, fetched 2026-07-24). Total project size can be larger because a bank funds the first mortgage alongside it.
What it funds
Major fixed assets: owner-occupied commercial real estate and long-life machinery and equipment. Not working capital or inventory.
Structure
A conventional first-mortgage lender, a Certified Development Company holding the SBA-backed second, and a borrower down payment.
Rate
The CDC portion is fixed for the full term and set at the monthly debenture sale.
Program facts confirmed against sba.gov/funding-programs/loans/504-loans on Jul 24, 2026.
SBA Express: program overview
What it is
A delivery method inside the 7(a) program. The lender uses its own forms and procedures and gets an accelerated SBA response, in exchange for a lower SBA guarantee percentage than Standard 7(a).
What it funds
The same uses as 7(a), including revolving lines of credit, which Standard 7(a) term loans do not offer.
Trade-off
Faster turnaround and lighter paperwork, against a smaller guaranteed portion, which some lenders price for.
Current SBA Express maximum loan size and guarantee percentage are set by SBA notice and change. Confirm them on sba.gov or with your lender; this site does not publish an unverified figure.
Small business loans available in Mississippi
An SBA 7(a) loan made to a Mississippi business is made by a participating lender, not by the SBA.
The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is
which lenders are active, not the program rules.