Program Objective

Program Objective. The American Rescue Plan Act of 2021 (ARPA) reauthorizes and amends the Small Business Jobs Act (SBJA) of 2010, which established the State Small Business Credit Initiative (SSBCI) Program. Through the SSBCI, the State of Mississippi was allocated funds for the Small Business Loan Guarantee Program (SBLGP) which will be administered by the Mississippi Development Authority (MDA). This program is designed to facilitate capital accessibility for small businesses by providing loan guaranties to banks and other small business lenders. The program’s purpose is to enable lenders to make term loans or provide lines of credit to new or existing small businesses in a difficult credit environment. This is designed to help with the development, expansion, and retention of Mississippi’s small businesses.