Business Loans in Mississippi

Mississippi's economy is evolving from its agricultural foundations into a more diversified landscape that includes advanced manufacturing, automotive production, energy, and a growing technology presence. The state attracted major automotive investment with Nissan's Canton assembly plant and Toyota's Blue Springs facility, creating extensive supplier networks. The Gulf Coast, centered on Gulfport-Biloxi, supports military installations (Keesler Air Force Base, Stennis Space Center), shipbuilding (Huntington Ingalls Industries), and a significant casino and tourism industry. Agriculture remains a cornerstone, with Mississippi leading in catfish aquaculture, sweet potatoes, and cotton production. The state's cost of doing business is among the lowest in the nation, with the lowest average commercial rent and among the lowest wages — a double-edged sword that reduces expenses but also reflects economic challenges. Mississippi's approximately 250,000 small businesses can access support through the Mississippi Development Authority (MDA), which offers the ACE Fund (Access to Capital for Entrepreneurs), the Mississippi Advantage loan program, and various tax incentives for job creation. The state's Historically Black Colleges and Universities (HBCUs), including Jackson State and Tougaloo, contribute to workforce development and entrepreneurship. The Mississippi Small Business Development Center network provides free consulting to aspiring and existing business owners.