State Small Business Credit Initiative- SSBCI

RCLF is honored to be one of three CDFI’s in Mississippi to receive a total of $14.7 Million in State Small Business Credit Initiative (SSBCI) Funds. These funds will be used to assist small and growing businesses and further economic growth and prosperity throughout Mississippi.

Eligible business purposes for SBLF transactions include, but are not limited to:
o Start-up costs, working capital, franchise fees,
o Acquisition of equipment,
o Inventory
o Services used in the production, manufacturing, or delivery of a business’s goods or services, or in the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes, or
o The purchase of any tangible or intangible assets except goodwill.

Learn more about the program here: https://msmec.com/2024/04/03/mississippi-development-authority-approves-three-community-development-financial-institutions-for-funding-through-state-small-business-credit-initiative/