Applying for Funding

Applying for Funding. A. Applications for funding will be accepted on a rolling basis; there is no application deadline. All applicants requesting GCRF loan funding must submit a completed application form and all necessary supporting documentation. The application must include the following: (i.) A detailed description of the project; (ii) A cost estimate for the project, as well as a detailed breakdown of all public or private sources of funding; (iii) Information regarding the purpose of the proposed loan, including the activities to be funded with loan proceeds and the cost of each; (iv) Documentation on how the proposed loan relates to the priorities outlined in the Act; and (v) The time schedule for implementation and completion of the project evidencing an expeditious completion of the project. B. After an initial application review, MDA will ask applicants who are Companies to submit the following: (i.) Company balance sheets, income statements, and statements of cash flow for the previous three (3) fiscal years and current statements dated within ninety (90) days of application and/or three (3) years of tax returns; (ii.) A two (2) year business plan for the project; and (iii.) A list of principal stockholders, partners, or parties who have ownership of twenty percent (20%) or more in the Company. If the applicant is a new Company, each of these individuals must provide personal financial statements for the past three years and current statements dated within (90) days of application, as well as three (3) years of tax returns. C. After an initial application review, MDA will ask applicants who are Governmental Entities and Economic Development Organizations to submit the following: (i.) Certified proof of publication of the Resolution of Intention of the governmental entity to apply for the GCRF Loan Program. The Resolution must be published once a week for at least four (4) consecutive weeks in a newspaper having general circulation in the county. Upon receiving the results of the publication of the Resolution of Intention, the governmental entity will need to provide MDA with an executed Resolution of No Protest. (ii.) Most recent audited financial statements. D. MDA may require additional information as needed. Applications can be mailed to: Mississippi Gulf Coast Restoration Fund Grant Program Mississippi Development Authority Financial Resources Division 501 North West Street Jackson, MS 39201