General Guidelines
- SMPDD makes direct loans. SMPDD does not offer guarantees for other lending institutions.
- Loans may be used for Real Estate, Fixed Assests, Working Capital, and Inventory.
- The business must agree to respond to all requests from SMPDD concerning servicing activity.
- All businesses must be located in the 15 county SMPDD area in order to be eligible for funding. These counties include: Covington, Forrest, George, Greene, Hancock, Harrison, Jackson, Jefferson Davis, Jones, Lamar, Marion, Pearl River, Perry, Stone, and Wayne Counties.
- Personal Guarantee of the loan is required of all owners of a qualifying business.
- Borrower must obtain "Key-Man" life, fire, flood, hazard, general liability and workers compensation insurance.
- Borrower must agree to comply with all applicable State and Federal regulations at the time funds are dispersed.
- All loans must be properly collateralized.
- Anyone in default on any state or federal loan is ineligible for these loan programs.
Ineligible Projects or Project Costs
- Investment Financing: Apartments, Rental Properties, Trailer Parks, etc.
- Media Types: Radio Stations, TV Stations, Newspapers, Magazines, etc.
- Vehicles: Airplanes or Boats
- Any business which engages in lending, directly or indirectly.
Leslie Newcomb, Executive Director
SMPDD Gulfport Office
9229 Highway 49
Gulfport, MS 39503
Phone:(228) 868-2311
SMPDD Hattiesburg Office
700 Hardy Street
Hattiesburg, MS 39401
Phone: (601) 545-2137
