Grants For Small Businesses In Mississippi – Atlanta, Miss. () – The United States Small Business Administration has announced on Wednesday that “Mississippi loans are available in case of economic loss”.
Small enterprises, small agricultural cooperatives, small aquaculture enterprises and most private non-profit organizations affected by SBA excess water and floods are eligible to apply from 1 August to 31 August 2022.
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The statement applies to Mississippi Covington, Forrest, Georg, Jefferson Davis, Lamar, Morion, Pearl River, Perry and Stone.
Community And Rural Development
“When the Minister of Agriculture issues a declaration of a natural disaster to help farmers recover damage to crops and losses, the administration of small business issues a declaration to the relevant agencies on was affected by the same disaster,” said Kem Fleming, Director of People. SBA’s Eastern Operations Center. .
According to the announcement, the SBA “Economic Damage Loan” program will be available to eligible business entities and business entities that have suffered financial losses as a direct result of this disaster.
The loan amount can be up to $2 million with an interest rate of 3.04 percent for small businesses and 1.875 percent for private non-profit organizations for 30 years.
These current capital loans can be used to pay fixed debts, payments, down payments and other accounts
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Applicants can apply online through an electronic loan application through SBA’s secure website at https://disterloanassiac.sba.gov/ela/s/ and must apply using SBA #17755.
You can also get disaster information and application form information by calling the SBA customer service center at 1-800-659-2955.
Dial 7-1-1 for people with hearing or language impairments to access Interpreting Telecommunications Services, or email disastercustomerservice@sba.gov.
Completed applications should be sent to: US Small Business Administration, Processing and Payment Center, 14925 Kingsport Road, Fort Wrth, TX 76155. Submit completed applications for credit to SBA by SBA by September 11, 2023 Laurel, Miss. () – Jones’ Area Chamber of Commerce received a $30,000 grant from Mississippi Power. He plans to use the money to create a grant program for minority-owned small businesses aimed at key members of the Chamber.
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This campaign was led by Joe Cole, Mississippi Energy Field Manager and a member of Leadership Jones County Class of 2022. This grant program aims to enable minority small business owners to develop and grow their business.
Each eligible company can apply for any amount up to $3,000. The grant program does not require compliance and there are no specific project parameters.
Beneficiaries can apply for funding to facilitate any project or need specified by their business. The House and Mississippi Power have created a grant committee to consider applications and targeted use.
To meet the requirements, the enterprise must have fewer than 50 employees and at least 51 percent of minority representatives, which is defined as residents of Asian-Indian origin, residents of the Asian-Pacific Islander, Black, Black, women, Latino-American or Native American.
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Applicants should be members of the Jones Area Chamber of Commerce and current clients of Mississippi Power.
Applications are available on the Jones District Commerce Website. Applications can also be submitted to the Chamber of Commerce office.
All applications must be submitted to the office of the Chamber of Commerce and Industry in person or by mail until 17:00. 03/25/2022 for consideration.
Ellisville PlayGround will receive funds to complete the final phase of the park by creating an outdoor space and adding protection to the town library. The park will provide access to outdoor activities in the community, which is 39.9 percent of the minority.
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Heidelberg Park will also receive grants for the reconstruction of basketball platforms, tennis courts, a pavilion and fitness stations. This park provides opportunities for nature recreation in a community, which is 84.3 percent minority. Oh! An error occurred and we could not process your subscription. Refresh the page and try again.
Kate Risson was afraid of losing her small business during the pandemic in the late summer of 2020, and, like thousands of others, she applied for a Mississippi Covid-19 Back to Business grant – up to $ 25,000 to help small business to support themselves.
But seven weeks after the application, Rosson was confused by the bureaucratic red tape and received little information about his application, despite several calls and providing the necessary information to the state. He was forced to lay off employees as the advertising and marketing company simply became a refuge. He was in the same boat, communicating with various other enterprises in Oxford. Some had to close their doors forever.
In the end, Rosson received his grant — he didn’t disclose the amount, but says it wasn’t all of $25,000 — but only in mid-October, a month after to apply for emergency support for minors who are suffering from a problem. business
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Rosson’s company stood. Business is being restored, but the fight is still on. He knows many small businesses that have been denied extraordinary subsidies or have taken a small step after entering a bureaucratic maze. Unfortunately, he can call several enterprises – large and small – in their student city, which did not experience the closure of the pandemic. And, he says, “it still happens, always.”
Since Mississippi received $1.25 billion under the Federal Care Law Act to help during the pandemic, one of the first things that lawmakers have done, except for the fight against governor Tait Rivz regarding who has the right to spend 300 million US dollars for urgent help with small businesses.
But only half of the money was spent according to Open Archives Mississippi Today. The rest was redirected to other pandemic programs, such as housing rental grants, hospitals and veterans, and most was directed to the State Unemployment Insurance Fund.
Here’s a breakdown
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Finally business support has helped thousands of small businesses. Legislative leaders said they are in uncharted waters with the program and in a very short period of time set by Congress to spend money. Other problems included the inability of thousands of businesses to pay state taxes on time, which is a perennial problem in Mississippi. And the Mississippi Department of Development, which administers the largest grant program, asked for permission to increase the administrative costs from $900,000 to $3.6 million to move faster and smarter. The legislators rejected this request.
“The ‘Back to Business’ program helped thousands of small businesses affected by the pandemic, such as retailers and restaurants, stay away,” said Governor Delbert Khozemann. they asked for the basic requirements, such as timely filing of returns. Those who met the basic requirements received the necessary support.”
Sen. Derrick Simmons, D-Greenville, said he received several complaints from constitutional owners who were “so frustrated with the process that they gave in, and in some cases, unfortunately, they lost their business. “
“I think it was a terrible failure,” Simmons said. “I’m very concerned about the number of businesses that are closed and never reopened.”
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House Speaker Philip Gann, whose House management team had business subsidies and asked for millions more than the Senate ultimately accepted, did not respond to requests.
In the late summer of 2020, when business owners complained about grant problems, the Hope Policy Institute showed that Mississippi lagged behind most other southern states in expanding the CARES ACT for small businesses. Legislators reconvened and amended the program to speed up the process and authorize more initiatives.
“First of all, there’s no textbook for something like that,” said Senate President Josh Harkins, R-Flowood, who helped make changes to the program to speed it up and help more people. “We had to change quickly, and we didn’t have much time … After the first attack, I didn’t hear much concern from companies, but at least I heard. A few thanks.
“We didn’t know how much was in the budget for this, and we didn’t want to be caught short, but we also didn’t want to go overboard,” Kharkins said. to make sure people were qualified, but we didn’t want the inspector general to come back and say it was a waste of money … looking back, if something like this happens again, something we have to do. … The opening can reveal things that we could do better “that are there, otherwise, but there was no textbook.”
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Harkins noted that Congress set a very tight deadline — December 31, 2020 — to spend the CARES law money, the legislators “all” agreed to put unspent money at the National Insurance Fund. State employment, which went out during the unemployment epidemic. Claims of large reductions in unemployment benefits will lead to significant increases in unemployment insurance payments for business, Kharkins said, adding that the tie-up of unspent funds from the CARES law has also helped small businesses. Congress later suspended the spending cap under the CARES Act but only at the eleventh hour
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