Capital Improvements Revolving Loan Program

Mississippi Department of Revenue, Mississippi Development Authority

Program Type:

Loan

Eligible Geography:

Mississippi

Summary:

The Capital Improvements Revolving (CAP) Loan Program provides loans to municipalities and counties to finance public infrastructure improvements in Mississippi. CAP Loan funds may be used by local governmental authorities in support of business location and expansion projects and other community- based projects.

Eligible Recipients:

Local Government

Eligible Recipients Detail:

Municipalities and Counties

Eligible Purpose:

Broadband Enabled Devices (General); Building Connectivity; Anchor Institution Connectivity; Last Mile Connectivity

Eligible Purpose Detail:

CAP Loan funds may be used by local governmental authorities in support of business location and expansion projects and other community- based projects.

CAP Loan funds can be used to improve public facilities and public infrastructure to assist with business
location and expansion projects related to the following types of industries:
-manufacturers
-warehouses and distribution centers
-research and development facilities
-hospitals
-telecommunications and data processing facilities
-national or regional headquarters

Examples of eligible CAP Loan projects include:
Repair of sewer systems; Fire protection improvements; construction, renovation, or repair of buildings for economic development; land improvements; Construction of roads; Remediation of brownfield sites

Funding Match/Terms:

The maximum CAP Loan term is 20 years. The interest rate for CAP Loan loans used for tax-exempt activities is two percent per year. The interest rate for CAP Loan funds used for taxable activities is three percent per year.

Note/Additional Resources:

https://mississippi.org/manage/wp-content/uploads/capital-improvements-revolving-loan.pdf