Introduction

Introduction. The Small Enterprise Development Program (“SED”), administered by the Mississippi Business Finance Corporation (“MBFC”), is a program designed for the purpose of making loans to qualified private companies (“Borrower”), in order to finance the location or expansion of projects, as defined below, which will result in increased employment and investment in small communities. Funding for the SED program is derived from the issuance of taxable or tax exempt general obligation bonds (“Bonds”) of the State of Mississippi (“State”). SED was enacted by the State Legislature during the 1988 Regular Session.