Summary:

The Agribusiness Enterprise Loan Program is available to provide loans through financial institutions to businesses that are related to agricultural economy of the state. Its objective is to encourage job creation and the growth of the agricultural industry.

The ABE Loan Program allows for loans in amounts up to 20 percent of total project costs or $200,000, whichever is less. Agribusinesses retrofitting operations may receive loan amounts up to 30 percent of total project costs or $200,000, whichever is less. Eligible agribusinesses that have operated in Mississippi for at least 24 months may borrow an additional $200,000 for a separate project under the same terms listed above. The maximum total amount of ABE loans that can be made to any one existing agribusiness is $400,000.

Eligible Recipients:

For-Profit Business

Eligible Recipients Detail:

Businesses must be directly related to agriculture to be eligible for the ABE Loan Program. Eligible agribusinesses include: Manufacturers; Aquaculture businesses; Horticulture businesses; Other agricultural-related industry

Eligible Purpose:

Building Infrastructure; Last Mile Infrastructure; Broadband Enabled Devices

Eligible Purpose Detail:

Loan proceeds may be used to purchase or renovate buildings or equipment.