SBA MISSISSIPPI CONTINUES SURGE IN LENDING TO SMALL BUSINESSES

Jackson, MS – With three months to go before the federal fiscal year ends, the U. S. Small Business Administration Mississippi District surpassed the $100 million milestone, and continues its surge in lending to Mississippi small businesses.

Through the third quarter of the 2015 fiscal year (October 1, 2014 to June 30, 2015), there have been 302 SBA loans approved for Mississippi small businesses totaling $113,859,100. “We are pleased to announce that SBA lending continues to surge this fiscal year providing more dollars to more small businesses in Mississippi,” said Janita R. Stewart, director of the Mississippi SBA District Office. “Although the number of loans is similar to that of 2014 at this time of year, the loan dollar volume is $4.21 million more than last year.” The SBA’s 2015 fiscal year ends September 30th.

“In addition, there were twenty new lenders brought on board in Mississippi so far to help reach the $100 million mark in loan dollars,” said Stewart. “We are fortunate to have a very supportive and active lending community in Mississippi. They show a strong commitment to strengthening our state’s economy by providing financing to help small businesses start and grow. As the fiscal year moves on, we fully expect many more loan approvals to provide much needed capital to entrepreneurs and small businesses in our state.”

SBA loans approved in Mississippi through June 30h created 886 jobs and help retain 1,529 jobs which yield positive impacts for the state of Mississippi.

To learn more about SBA’s loan programs, contact the Mississippi SBA District Office at (601) 965-4378, the Gulfport Branch Office at (228) 863-4449 or visit the Mississippi SBA homepage at www.sba.gov/ms.