From October 2023 through September 2026, Mississippi businesses received 842 SBA 7(a) loans totaling $532M, net of cancellations. That ranks 40th of 52 by number of loans and 35th by dollars. The median loan was $250K at a median starting rate of 9.50%. In FY2026 alone, lenders approved 297 Mississippi loans for $227M before cancellations.
What stands out in Mississippi
Light use of SBA 504
Mississippi had 23 SBA 504 loans, 0.03 for every 7(a) loan, against 0.10 nationally. The 504 program finances owner-occupied real estate and long-life equipment through a certified development company; in Mississippi the most active was Three Rivers Local Development Company, Inc. (16 loans).
More startup lending
Loans to open a new business made up 26.7% of Mississippi's 7(a) loans, against 16.1% nationally; counting businesses two years old or younger, the share is 42.8%.
Few SBA Express loans
12.1% of Mississippi's 7(a) loans were made through SBA Express, against 35.8% nationally. Express loans are capped at $500,000 and the lender makes the credit decision itself, so they move faster but are smaller. More Mississippi loans go through standard 7(a) processing, which takes longer but allows amounts up to $5 million.
A milder FY2026 drop than the country
Mississippi approvals went from 347 in FY2025 to 297 in FY2026 (−14.4%), against −28.1% nationally. Dollar volume went from $192M to $227M (+18.2%).
Transportation and trucking stands out
Transportation and trucking accounted for 7.1% of Mississippi's 7(a) loans (60 loans), 1.5 times its 4.6% national share. The median transportation and trucking loan in Mississippi was $100K at a median rate of 10.50%.
Lower rates than average
The median starting rate on Mississippi 7(a) loans was 9.50%, against 10.25% nationally, and 18.2% of loans carried a fixed rate (13.6% nationally). SBA caps the spread a lender can charge over the base rate, and smaller loans are allowed higher spreads, so a state's loan-size mix moves its median rate.
SBA 504 loans in Mississippi
The SBA 504 program finances owner-occupied real estate and long-life equipment. A certified development company (CDC) lends up to 40% of the project with an SBA-backed debenture, a bank typically lends about 50%, and the business puts in the rest. The amounts below are the CDC portion.
| Mississippi | United States | |
|---|---|---|
| 504 loans, FY2024-FY2026 (not cancelled) | 23 | 18,076 |
| 504 dollars | $46.6M | $20.82B |
| Median 504 loan | $1.3M | $742K |
| Jobs supported (reported at approval) | 328 | 190,338 |
| Most active CDCs | 504 loans |
|---|---|
| Three Rivers Local Development Company, Inc. | 16 |
What a typical Mississippi SBA loan looks like
| FY2024-FY2026, not cancelled | Mississippi | United States |
|---|---|---|
| Median loan | $250K | $175K |
| Average loan | $632K | $508K |
| Median starting rate | 9.50% | 10.25% |
| Variable-rate loans | 81.8% | 86.4% |
| Median term | 120 months | 120 months |
| Loans of $150K or less | 41.6% | 49.0% |
| Loans of $500K or less | 67.9% | 76.9% |
| Loans of $1M or more | 19.1% | 13.6% |
| Startups (loan opens the business) | 26.7% | 16.1% |
| Startups and businesses 2 years old or less | 42.8% | 32.0% |
| Change of ownership (buying a business) | 13.3% | 10.9% |
| Franchise businesses | 12.2% | 11.0% |
| SBA Express loans | 12.1% | 35.8% |
| Jobs supported (reported at approval) | 8,062 | 1,733,816 |
Mississippi SBA 7(a) loans by fiscal year
SBA fiscal years run October to September, so FY2026 covers October 2025 through September 2026. "Approved" counts every loan SBA guaranteed, the basis of SBA's own published totals; "not cancelled" drops loans that were later cancelled before or after funding. FY2026 loans are recent, so some of them may still be cancelled.
| FY2024 | FY2025 | FY2026 | |
|---|---|---|---|
| Loans approved | 358 | 347 | 297 |
| Dollars approved | $166M | $192M | $227M |
| Loans not cancelled | 314 | 276 | 252 |
| Median loan | $155K | $250K | $350K |
| Median rate | 10.50% | 9.57% | 8.75% |
| Loans of $150K or less | 49.7% | 40.6% | 32.5% |
| SBA Express share | 13.7% | 10.9% | 11.5% |
FY2026 approvals in Mississippi changed by −14.4% from FY2025; nationally the change was −28.1%. See why SBA lending fell in FY2026.
Top SBA 7(a) lenders in Mississippi
| Lender | Loans | Share of state |
|---|---|---|
| 1. Peoples Bank | 103 | 12.2% |
| 2. Community Bank of Mississippi | 63 | 7.5% |
| 3. Trustmark Bank | 49 | 5.8% |
| 4. Newtek Bank, National Association | 45 | 5.3% |
| 5. Live Oak Banking Company | 44 | 5.2% |
| 6. The Citizens National Bank of Meridian | 44 | 5.2% |
| 7. Northeast Bank | 41 | 4.9% |
| 8. The Huntington National Bank | 39 | 4.6% |
| 9. BankFirst Financial Services | 33 | 3.9% |
| 10. Readycap Lending, LLC | 30 | 3.6% |
Industries that borrow most in Mississippi
| Sector | Loans | Share | Median loan | Median rate |
|---|---|---|---|---|
| Agriculture | 135 | 16.0% | $920K | 8.00% |
| Restaurants and hotels | 119 | 14.1% | $500K | 9.50% |
| Retail | 88 | 10.5% | $227K | 9.88% |
| Health care | 77 | 9.1% | $283K | 9.60% |
| Other services (repair, personal care) | 74 | 8.8% | $178K | 9.75% |
| Construction | 71 | 8.4% | $140K | 10.26% |
| Transportation and trucking | 60 | 7.1% | $100K | 10.50% |
| Administrative and support services | 56 | 6.7% | $150K | 9.62% |
Where in Mississippi the loans go
| County | Loans |
|---|---|
| Rankin | 78 |
| Harrison | 67 |
| Desoto | 56 |
| Hinds | 55 |
| Madison | 48 |
| Simpson | 39 |
| Covington | 38 |
| Jackson | 32 |
| City | Loans |
|---|---|
| Jackson | 40 |
| Gulfport | 32 |
| Hattiesburg | 30 |
| Brandon | 28 |
| Biloxi | 24 |
| Collins | 22 |
| Ridgeland | 21 |
| Mendenhall | 21 |
Counts only, and only places with at least 10 loans. No individual businesses are listed.
How older loans performed
Of the 601 SBA 7(a) loans approved for Mississippi businesses in FY2020 and FY2021 (not cancelled), 19 had been charged off by September 30, 2026: 3.2% by count and 0.4% of dollars approved. The national figures are 3.7% and 1.0%. Loans from these years have had five to seven years to season, so they say more about losses than recent loans do.
SBA district office for Mississippi
Mississippi loans are overseen by the SBA Mississippi District Office. District offices do not make loans; they support lenders and borrowers and point businesses to local resource partners. Contact details are on SBA's local assistance page.
Comparing SBA and other funding in Mississippi
An SBA loan is often the cheapest long-term money a small business can get, but approval takes weeks and the 2025 and 2026 rule changes narrowed who qualifies. FSE (Funding Solutions Experts) is an independent commercial finance brokerage. We are not an SBA lender and are not affiliated with the U.S. Small Business Administration; one application lets us compare SBA and non-SBA options from our funding partners side by side.
- No fee to your business: we are paid a commission by the funding partner.
- No credit check to apply.
- To be considered, a business generally needs at least 1 year in business and $10,000 or more in monthly revenue.
Read what an SBA loan is and how the programs work or our SBA and term loans guide.
Frequently asked questions
How many SBA loans were made in Mississippi?
Lenders approved 358 SBA 7(a) loans for Mississippi businesses in FY2024, 347 in FY2025 and 297 in FY2026, before cancellations. Net of cancelled loans, the three years total 842 loans worth $532M, plus 23 SBA 504 loans worth $46.6M.
Which banks make the most SBA loans in Mississippi?
In FY2024 to FY2026 the most active 7(a) lenders in Mississippi were Peoples Bank (103 loans, 12.2%), Community Bank of Mississippi (63 loans, 7.5%), Trustmark Bank (49 loans, 5.8%).
What is the typical SBA loan size and rate in Mississippi?
The median 7(a) loan in Mississippi was $250K and the average was $632K. The median starting interest rate was 9.50%, 81.8% of loans had a variable rate, and the median term was 120 months.
Source and method
Figures come from the U.S. Small Business Administration's 7(a) and 504 FOIA loan files (as of September 30, 2026), aggregated by FSE. Loans are assigned to Mississippi by project state. Profile figures cover FY2024-FY2026 loans that were not cancelled. We publish aggregates only: no borrower names or addresses, and no figure based on fewer than 10 loans. Full details are in the methodology, and every state's figures can be downloaded as CSV.
Compare nearby states by volume: Arkansas, Nebraska, New Mexico, Rhode Island, or see all states.