Small Business Grants in Mississippi
Mississippi has no open state grant. Almost all of its small business money runs through one $86 million pool called SSBCI, as loans, guarantees and equity.
Mississippi has no open state grant. Almost all of its small business money runs through one $86 million pool called SSBCI, as loans, guarantees and equity. The one state grant we track, an energy grant for manufacturers, has not run since 2023.
Which Mississippi grants fit your business?
Answer 7 quick questions and we sort the 12 programs on this page into likely fits and long shots. Nothing personal is asked or stored, and final eligibility is always decided by the granting agency.
Mississippi Small Business Grant Programs
State-administered funding programs available to Mississippi small businesses. Verify deadlines directly with the granting agency before applying.
InvestMS Direct Investment Program for Startups
Innovate Mississippi / MDA
$50,000-$1,000,000 initial check
RollingEquity, not a grant. InvestMS buys a stake in your company. Checks run from $50,000 to $1 million. The program holds $11 million. You need a lead investor first, putting in at least $50,000. InvestMS matches private money one for one. Larger deals can reach $3 million, with an SSBCI match of up to $1 million.
ConnectMS Technical Assistance Program
MDA / Innovate Mississippi / Mississippi SBDC
Free technical assistance (no cash grant)
RollingFree help, not money. ConnectMS covers all 82 Mississippi counties through eight regional clusters. Partners include Innovate Mississippi, the Mississippi SBDC and MDA. You fill in one intake form. An advisor then gets in touch. It also runs events and a resource directory.
Mississippi CDFI Small Business Loan Fund
Mississippi Development Authority
Varies by CDFI lender
RollingThe money goes to lenders, not to businesses. MDA has put $45 million behind community development financial institutions under SSBCI. Those lenders then lend to Mississippi small businesses. It is a loan. Culleywood Capital, Renaissance Community Loan Fund and Hope Enterprise Corporation are on the list. You apply to a CDFI, not to the state.
Small Business Loan Guarantee Program (SBLGP)
Mississippi Development Authority
$50,000 to $500,000, guaranteed up to 80%
RollingA loan guarantee, not a grant. You borrow from a bank. MDA backs part of the bank's risk. Loans run from $50,000 up to $500,000, or half the project cost, whichever is less. The guarantee covers up to 80 percent on fixed assets and up to 50 percent on working capital. The state put $15 million behind this under SSBCI.
Apply / Learn MoreMinority Business Enterprise Loan Program
Mississippi Development Authority
Up to $250,000, or half the project cost
RollingThis is a loan, not a grant. MDA lends to minority owned and women owned businesses. You must be certified first. MDA's Minority and Small Business Development Division does that. Manufacturers, warehouses, distribution centers and retailers can apply. The money can go on land, a building, a renovation, machinery, equipment or working capital. The cap is $250,000, or half the project cost, whichever is lower. One owner test catches people out. Your net worth cannot top $500,000, after you take out your home and your stake in the business.
Minority Business Micro Loan Program
Mississippi Development Authority
Up to $35,000
RollingA loan, not a grant. The cap is $35,000. Manufacturers, warehouses, distribution centers and retail businesses may apply. Money can cover inventory, working capital, machinery and equipment. The rate runs four points above the Federal Reserve discount rate. Terms reach seven years.
InvestMS Venture Capital Fund Program
Innovate Mississippi
$1M-$5M per fund, from a $15M pool
RollingMoney goes to venture capital funds, not to businesses. Innovate Mississippi puts $1 million to $5 million into a fund as a limited partner. The fund must match that with private capital, one for one. The whole program holds $15 million. A founder cannot apply here. You would raise from a fund that took this money.
Mississippi Industrial Energy Efficiency Program (MIEEP)
Mississippi Development Authority
$15,000-$50,000
Closed, MDA no longer lists itMatching grants for manufacturers, up to half of project costs, from $15,000 to $50,000. Eligible work covered lighting, HVAC, water heating and energy systems. The whole 2023 round held about $500,000. The program is not running. MDA has dropped it from its Office of Energy page.
Federal Grant Programs
These federal programs are available to small businesses in every state.
SBA 7(a) Loan Program
The SBA's primary lending program guarantees loans through participating lenders. This is a loan, not a grant. But the terms favor small businesses that may not qualify for conventional financing.
Learn moreSBA Microloan Program
Loans up to $50,000, not grants. You borrow from a nonprofit lender near you, not from the SBA itself. The money can cover working capital, inventory, supplies or equipment. Most people get far less than the cap. The average microloan is about $13,000.
Learn moreSBIR/STTR Grants
Competitive federal grants for small businesses doing research and development with commercial potential. Eleven federal agencies take part. Phase I funds proof of concept. Phase II funds full development.
Learn moreMinority Business Development Agency (MBDA) Programs
Help for minority owned businesses that need capital, contracts or new markets. MBDA runs business centers around the country. They give advice, help with bids, and point you toward lenders.
Learn moreGet Grant-Ready
Before you apply, most Mississippi grant programs expect these basics to be in place.
Form your business entity
Most Mississippi grant programs require applicants to be a registered LLC, corporation, or nonprofit. If you haven't formed yet, that's the first step.
$39 + state fee. Includes registered agent, business address, and more.
Get your EIN
An Employer Identification Number is free from the IRS and required on nearly every grant application. You can apply online and receive it immediately.
Open a business bank account
Grant funds need to go into a dedicated business account, not your personal checking. Most agencies will ask for your banking details on the application.
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.
Grants by Business Type
Targeted programs for specific business owners in Mississippi.
Minority-owned Business Grants
Minority owners have options, but they are loans. The Minority Business Enterprise Loan goes up to $250,000. The Micro Loan goes up to $35,000. MDA also handles MBE and WBE certification, which can open up more contract work.
- ›Minority Business Enterprise Loan Program
- ›Minority Business Micro Loan Program
- ›MDA Minority and Small Business Development Division
Women-owned Business Grants
Women owners qualify too. They can use both the Minority Business Enterprise Loan and the Micro Loan through MDA. The SSBCI-funded ConnectMS program also puts underserved founders first, women owners included.
- ›Minority Business Enterprise Loan Program
- ›ConnectMS Technical Assistance Program
- ›MDA Minority and Small Business Development Division
Rural Business Grants
Rural counties cover most of the state. So many businesses qualify for USDA rural programs. ConnectMS reaches all 82 counties. It gives rural founders local help and coaching on raising money.
- ›ConnectMS Technical Assistance Program
- ›Mississippi SBDC Network
Technology/Innovation Business Grants
Tech startups can raise equity through InvestMS. It matches $50,000 to $1 million for Pre-Seed through Series A companies. The InvestMS Venture Capital Fund holds another $15 million, but that money goes to funds, not to founders.
- ›InvestMS Direct Investment Program
- ›InvestMS Venture Capital Fund Program
- ›Innovate Mississippi
Tips for Applying in Mississippi
Increase your chances of approval with these state-specific tips.
- 1Set up the basics first. Register with the Mississippi Secretary of State. You also need a real office in the state to apply for InvestMS or other SSBCI programs.
- 2Minority-owned or women-owned? Get MBE or WBE certified through MDA. Call the Minority and Small Business Development Division at (601) 359-3448. You need this for the Minority Business Enterprise Loan.
- 3Call the Mississippi SBDC Network first. Their one-on-one help is free. Advisors can help you build a business plan, budgets, and loan paperwork.
- 4Do not plan around the state energy grant. MDA has dropped it from its program list. The last round closed in July 2023.
- 5InvestMS needs a lead investor first. That investor must put in at least $50,000 before you apply for matching funds. The process takes about 90 days.
State Economic Development Agency
Mississippi Development Authority (MDA)
MDA is Mississippi's lead economic and community development agency, providing business recruitment, workforce training, small business loans, minority business support, and energy programs statewide.
Funding While You Wait
Grant applications in Mississippi can take weeks or months to process. These options can bridge the gap.
Grants in Other States
All state grant guidesFrequently Asked Questions
Very few, and the state says so itself. Filter the Mississippi Development Authority incentives page to Grants and it reports that no information is available at the moment, while the Loans tab lists six programmes. The one state grant we track, MIEEP, paid manufacturers $15,000 to $50,000 and was never repayable, but it has not opened a round since July 2023 and MDA has taken it off its Office of Energy page. ConnectMS is free help rather than cash. Everything else the state runs is a loan, a loan guarantee or an equity investment. Some federal programs, like SBIR and STTR grants, do not need to be repaid, and those are the realistic grant route for a Mississippi founder.
Most state funding flows through one pool, called SSBCI. It holds $86 million. The three biggest parts are the CDFI loan fund at $45 million, the loan guarantee program at $15 million, and InvestMS equity at $26 million, which is $15 million for venture funds and $11 million for direct investment in startups. None of those are grants. The best known state grant is MIEEP, for manufacturers, and it has not run since 2023.
Only for some programs. You need MBE or WBE certification to use the Minority Business Enterprise Loan and the Micro Loan. To qualify, your business must be at least 51% owned and run by people who are disadvantaged. Many other programs do not need it. These include InvestMS and the loan guarantee program.
It depends on the program. An InvestMS equity deal usually takes about 90 days, and it will not start at all until you have a lead investor, because the state will not lead a round. Federal SBIR and STTR awards run on each agency's own deadlines. SSBCI loans go through outside lenders, and their speed varies. Ask the Mississippi SBDC for help to move faster.
Was this article helpful?
Grant programs change frequently. Deadlines, eligibility requirements, and funding amounts listed here may be outdated. Always verify information directly with the granting agency before applying. This page is for informational purposes only and does not constitute financial or legal advice.
Questions about Mississippi small business grants
No comments yet. Ask the first question and a member of our team will answer.
Leave a comment