Oxford, Mississippi

Oxford and Lafayette County are committed to new and existing industry. This is demonstrated by the favorable tax incentives and finance programs offered locally and throughout the state of Mississippi. As an added advantage, our local Economic Development office can assist you with public and private sources for financing.

Financing Programs

Programs are administered by the Mississippi Business Finance Corporation (MBFC), which is the financing arm of the Mississippi Department of Economic and Community Development. MBFC is a non profit public corporation which blends public and private capital at competitive rates.

I. Industrial Development Revenue Bonds

  • Designed for manufactures or processors who wish to finance land, buildings, fixtures, equipment and machinery, with a maximum of $10,000,000 in capital expenditures
  • Generally for 10-20 year period., public or private placement.
  • Provides a full sales tax exemption on eligible items purchased with bond proceeds. Ad valorem tax exemption (except school tax) are also available and initiated through the local political subdivision.
  • Generally lowers effective cost than private financing.

II. MS Small Enterprise Development Finance Program (SED)

  • Loans made to manufactures in processors who will increase employment and investment in small communities.
  • Minimum $200,000, maximum $2,000,000 for land, buildings an equipment.
  • Create 10 jobs minimum.
  • Maximum term 20 years, letter of credit required.
  • Generally lower effective cost than private financing.

III. The SBA 504 Loan Program

  • Up to 90% of capital required for new or expanding industry or business.
  • Excludes working capital.
  • Used for land, buildings, machinery, equipment and renovations.
  • Up to 20 year fixed rate on SBA portion.

IV. Loan Guaranty Program

  • Designed for start-up or expansion of a small business, including fixed assets, working capital, and start-up.
  • Maximum loan is $500,000.
  • Maximum guarantee of loan is 75% of loan not to exceed $375,000.
  • Collateral required to secure loan.
  • Must be turned down by two lenders prior to application.

V. MS Small Enterprise Development Finance Program

  • Loans made to manufactures or processors who will increase employment and invest in small communities.
  • Maximum of $2,000,000 fixed assets (land, buildings, and equipment) only, create 10 jobs minimum.
  • Maximum term 20 years, letter of credit required.

VI. Other

Several Federal agencies from time to time have sources of money available on a competitive basis. HUD, EDA, SBA, FmHA all can be considered in packaging your loan though our development office.