Disclosure: Our content isn't financial advice. Do your due diligence and speak to your financial advisor before making any investment decision. We may earn money from products reviewed. (Learn more)

Are you looking for Mississippi’s best business loans & startup financing companies? For your small business in the Magnolia State, many banks, credit unions, and unconventional lenders are offering different loan types. Keep in mind that over 254,000 small businesses operate in the Hospitality State, accounting for more than 99% of the businesses in this region.

Understand the unique features and benefits of different loan types to empower your business. That’s how you choose the best lender for your business. Also, look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 10 business loans & startup financing options in Mississippi to get started. Check our reviews of these lenders to decide which one’s the best option for you:

1. Swoop Funding

Swoop Funding is every Mississippi-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs. At Swoop Funding, you can get $5k to $500k as a small business. You need a credit score of 600+ with the company’s annual revenue being $50k (at least). Even if it’s been 6 months since you started this business, Swoop will consider your loan application!

2. Mississippi Federal Credit Union

This federal credit union (FCU) offers you pretty low rates & lower payments. This lender better understands what local businesses want. You can apply for commercial real estate loans as well as church real estate loans. Moreover, this Mississippi-based federal credit union will allow you to take out both secured and unsecured lines of credit.

3. Dealstruck

Mississippi Dealstruck is yet another startup financing option that can help you get up to $500k in small business lending. The term goes up to 48 months. Even though interest rates here start at 9.99%, this higher rate doesn’t affect the lucrative nature of these loans. That’s why the loan provider, Dealstruck, is #3 on this list.

4. FastWaySBA

At this lender, you can get up to $500,000 in funding. If you want to get in touch with the best lending programs and startup financing offers in Mississippi, then you should get in touch with FastWaySBA. The funding takes like 2 weeks and you’ll get access to reliable loans easily for your business operations. Also, you can find out if you qualify for these loans or not in just three minutes. So, try to explore your eligibility for receiving these funds via FastWaySBA.

5. Peoples Bank

If you want to open a convenient & flexible line of credit, then get in touch with Peoples Bank. With loan amounts from $1,000 to $10,000, this line of credit goes beyond overdraft protection. Established in Washington, this bank has been operating for the last 100 years. Operating from its 9 different locations, this lender has like $2.6 billion in assets; using this money, the bank will provide you with the much-needed corporate funding. If your business is in farmland investing, get in touch with this particular lender. That’s how you can expand your farming business.

Keep in mind that agriculture is the Magnolia State’s #1 industry, employing more than 17% of the regional workforce. That’s why many lenders focus on funding farms, expecting them to pay back their loans.

6. BankPlus

This lender has been operating in the states of Alabama, Mississippi, Florida, etc. for the last 100 years. At BankPlus, you’ll get ample lending services to either start your business or keep it running for a while. What’s amazing about their services is that the least amount of loan you can get from BankPlus is $1,000. The maximum amount is $25,000 but it comes without any SBA Guaranty. If you take out loans greater than $5,000, the term will be 60 months.

7. BankFirst Financial Services

The current headquarters of this lender, founded by the end of the 19th century, is in Columbus, Mississippi. You can get easy access to SBA 7(a) loans via BankFirst. Loan amounts go to $5 million. However, if you need up to $14 million, then you can apply for 504 loans via this lender. You can also use the funds received from this lender as working capital or to purchase business equipment and commercial real estate.

8. Community Bank of Mississippi

Here are a few reasons why this lender is perfect for Mississippi-based startups in need of quick cash for business operations:

• More than 100 years in banking
• Preferred Lender status with the Small Business Administration
• Experienced SBA lenders at each of our offices
• Lending limits up to $5,000,000
• Loans processed directly in your local bank
• Professional consultations at your local office to help determine the loan that meets your needs

9. Trustmark National Bank

This lender has an old history going back to the late ‘1880s. Based in Jackson, Mississippi, this lender offers unique loans with flexible requirements to various clients in the state. Now, they have around 180 different branches not just in Mississippi but also in Texas, Florida, Tennessee, and Alabama. You can utilize this lender’s services to keep your business running for years to come.

10. Business Capital USA

This is yet another lender that you should choose for your business. This lender is different from others based on the following features:

• Simple application process
• Get up to $2M in working capital
• No personal collateral
• Access to funds in as little as 1 day
• Flexible repayments
• High approval rates
• No hidden fees

Conclusion

Whether you’re a startup owner or founded a well-established business years ago, you have to choose the right financing partner and lender. That’s how you keep your business vessel afloat and key commercial operations running in the Hospitality State in this economy.

Now, choose a lender that offers you flexible loan terms and interest rates. Check their online reputation, customer service, interest rates, and other factors. If nothing makes sense, get in touch with Sophisticated Investor to understand how to get your entrepreneurial dreams funded quickly. That’s how you can take your business to new heights of success.