Pearl River Valley | Mississippi
(601) 736 - 9564

Minority Business Enterprise

The Minority Business Enterprise Loan Program provides loans to socially and economically disadvantaged minorities and women owned businesses as designated by the Minority and Small Business Development Division of the Mississippi Development Authority.

Loan funds can be used for the following:

  • Purchase and/or improve land and buildings
  • Working capital
  • Purchase machinery
  • Purchase equipment

Loans made under the Minority Business Enterprise Loan Program may be made for a maximum of seven years for working capital, ten years for equipment and fifteen years for land and buildings. The maximum loan may not exceed 50% of the total project or $250,000. The interest rate on these loans may range from 2% below to 2% above the Federal Reserve Discount Rate.

Stipulations for the MBE Loan

frogirlMBE loans are not available under the following circumstances:

  • To pay off existing debt for consolidation purposes;
  • If the direct or indirect purpose or result would be to pay off creditors of applicants who are inadequately secured or in a position to sustain a loss;
  • If the assistance would, directly or indirectly, provide or replenish funds for payment, distribution, or as a loan to owners, partners, or stockholders of the Minority Business and would not change the ownership interest of the business (does not apply to ordinary compensation for services rendered in the course of business);
  • If the loan funds would provide funds for speculation in any kind of property; or
  • If the assistance would finance the acquisition, construction, improvement, or operation of real property which is to be held primarily for sale or investment.

Applications must be located within PRVO’s 11 county area which includes: Covington, Forrest, Jeff Davis, Jones, Lamar, Marion, Pearl River, Perry, and Stone, Walthall, and Pike counties.