Building on SBA’s
www.SBA.gov • connect with us @ facebook.com/SBAgov twitter.com/sbagov youtube.com/sba
Publishers of Small Business Resource
Phone: 863-294-2812 • 800-274-2812
Fax: 863-299-3909 • www.sbaguides.com
Joe Jensen firstname.lastname@example.org
FEATURES English Small Business Resource Advertising
4 Introduction 31 Building on SBA’s Record
Kenna Rogers email@example.com
4 Administrator’s Message Year Production
6 District Director’s Letter Diane Traylor firstname.lastname@example.org
8 Counseling Applying for Government
Contracts. SBA’s Marketing Office:
Getting help to start up, market and The Small Business Resource Guide is published
32 How Government Contracting under the direction of SBA’s Office of Marketing and
manage your business.
Works Customer Service.
8 SBA Resource Partners 33 SBA Contracting Programs
11 SBA’s Online Tools and Training 35 Getting Started in Contracting Director of Marketing
12 Reaching Underserved Paula
Communities 37 Disaster Panissidi email@example.com
14 Are You Right for Small Knowing the types of assistance Editorial Content
Business Ownership? available for recovery. firstname.lastname@example.org
15 Writing a Business Plan
38 Advocacy and Ombudsman Graphic Design
Watching out for small business
Financing options to start or grow
your business. SBA’s participation in this publication is not an
16 SBA Business Loans 39 Additional Resources endorsement of the views, opinions, products or
services of the contractor or any advertiser or other
18 What to Take to the Lender Taking care of start up logistics. participant appearing herein. All SBA programs
25 Small Business Investment 43 Business Organization: and services are extended to the public on a
Company Program Choosing your Structure nondiscriminatory basis.
25 Small Business Innovation
26 Small Business Technology
44 Other Assistance
Printed in the United States of America
While every reasonable effort has been made
27 Surety Bond Guarantee 48 Lender Listing
to ensure that the information contained herein
was accurate as of the date of publication, the
Program information is subject to change without notice.
29 SBA Loan Program Chart Neither the contractor, the federal government,
or agents thereof shall be held liable for any
damages arising from the use of or reliance on the
information contained in this publication.
SBA Publication # MCS-0018
“Everything you need to know This publication is provided under SBA Contract
about setting up, marketing
and managing the revenue of
your business. ”
2 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
The U.S. Small Business Administration
F R O M T HE ADM I NI STRATOR
2011 was a record year for As our economy continues to strengthen in
the SBA. We helped over 2012, the Obama Administration is focused
60,000 small businesses on making sure that entrepreneurs and small
secure over $30 billion in business owners have the tools they need
lending through our flagship to grow and create jobs. After all, half of
7(a) and 504 programs – an working Americans either own or work for a
all-time record. We also small business, and two of every three new
worked with private-sector jobs are created by small businesses.
partners to drive a record
amount of capital ($2.8 billion) into the Finally, check out our online tools. For
hands of over 1,000 high-growth businesses example, at www.sba.gov/direct you can
through Small Business Investment type in your zip code and a few details about
Companies. your business, and you’ll immediately get
connected to SBA resources in your local
As we entered 2012, the President signed area.
a six-year extension of the Small Business
Innovation Research program which America’s small businesses are gearing up
supports small R&D companies that drive to lead our nation’s economic recovery and
innovation and game-changing technologies create the jobs we need now. Please feel free
to keep America on the cutting edge. We to contact your local SBA office if you have
also continue to streamline the paperwork any questions. We stand ready to help in
on SBA loans in order to help more lending whatever way we can.
partners and their small-business customers.
You can check out all of these programs in
this guide. Also, be sure to take a look at all
of the SBA’s 2011 accomplishments in the
last few pages. Karen G. Mills
Small Business Administration
About the SBA
Your Small Business Resource
Every year, the U.S. Small Business Administration and its nationwide • Contracting
network of partners help millions of potential and current small • Disaster Assistance
business owners start, grow and succeed. • Advocacy and the Ombudsman
Resources and programs targeting small businesses provide an Visit SBA online at www.sba.gov for 24/7 access to small business
advantage necessary to help small businesses compete effectively in news, information and training for entrepreneurs.
the marketplace and strengthen the overall U.S. economy.
All SBA programs and services are provided on a nondiscriminatory
SBA offers help in the following areas: basis.
4 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
MISSISSIPPI Message From The District Director
SBA Staff Listing
Harris, Rosetta G.
Lender Relations Specialist
Rules For Success
210 E. Capitol St.
Ste. 900 McClendon, James E. Like today’s small businesses, large corporate success stories
Jackson, MS 39201 Administrative Officer
Ext. 19 started with only an entrepreneur and a dream.
601-965-4378 Smith, Delores S.
Ext. 10 Lender Relations Specialist
TDD PHONE: e welcome you to this 2012- in this resource guide. It is through the
800-877-8339 GULFPORT BRANCH 2013 edition of the Mississippi advertisers’ participation and support that this
OFFICE Small Business Resource Guide. publication is made available to the Mississippi
FAX: 601-965-5629 or Hancock Bank Plaza Through the years, this small business community – free of charge.
601-965-4294 2510 14th St. publication has proven to
be an extremely useful and valuable tool I invite you to read this guide, refer to it
Stewart, Janita R. Gulfport, MS 39501
District Director for start-up entrepreneurs and for existing often, even share it with other entrepreneurs
Ext. 20 MAIN NUMBER: small business owners needing a quick ready- and small businesses so that all may take full
228-863-4449 reference guide to search for information on advantage of SBA’s finance, entrepreneurial
Conner, Joyce M. programs and services available in Mississippi development, certifications and federal
Business Opportunity TDD PHONE: to help them start, grow, expand and succeed. government contracting programs, which have
Specialist 800-877-8339 been designed with you, the small business
Information on SBA’s business loans, venture owner, in mind.
Dean, Debbie W. 228-864-0179 capital, surety bonds, disaster assistance,
Lender Relations Specialist certifications, and federal government For further information on SBA programs
Ext. 11 Johnson-Fells, Bridget D. contracting programs, along with other and services, conferences, workshops and
Economic Development vital information are included in this guide. seminars, free newsletters, as well as other
Doss, Alice A. Specialist You’ll also find a comprehensive list of SBA’s initiatives affecting small businesses locally and
Supervisory Business Ext. 225 primary resource partners – including among nationally, please visit our website at
others – the Mississippi Network of Small www.sba.gov/ms or call and/or visit our
Ext. 14 Reed, Gary K.
Branch Manager Business Development Centers (MSBDC) Mississippi District or Gulfport Branch Office.
Fisher, Rhonda H. Ext. 223 and Business Assistance Centers; Service
Supervisory Lender Relations Corps of Retired Executives (SCORE); Remember that in our continuous journey
Specialist SCORE-Gulf Coast Chapter and our Women’s Business Center (WBC) of “supporting the formation, growth, prosperity and
Ext. 15 228-863-0054 – all which expertly provide free and viability of Mississippi’s small businesses,” we are
confidential counseling, training, management here to serve you! We want to help you – as
and technical assistance to individuals, an entrepreneur or a small business – make
DID YOU KNOW? entrepreneurs, and small businesses
throughout Mississippi. Furthermore, the
your dreams come true. SBA – Your Small
The SBA Mississippi District and Gulfport Branch
Offices serve the state with a wide variety of small guide contains contact information on state
business programs and services. Federal fiscal agencies, chambers of commerce, economic Sincerely,
year (FY) 2011 was a record-setting year in terms development organizations, in and out-of-state
of guaranty loan dollars. A total of 749 loans bank and non-bank SBA lending partners, and
were guaranteed totaling almost $274.03 million other small business advocates throughout our
through SBA’s 7(a) guaranty loan program and the state with whom SBA collaborates.
504 guaranty loan program which served to provide Janita R. Stewart
much needed capital for small business start-up District Director of
and expansion. This represents an approximately
We thank RENI Publishing for their
continued partnership in producing the guide SBA’s Mississippi District Office
42% increase in loan dollars compared to FY2010
($193.27). Furthermore, according to the Federal and especially thank the advertisers appearing
Procurement Data System – Next Generation, more
than $163.9 million in federal government contract
dollars were awarded to Mississippi businesses
certified in SBA’s 8(a) and HUBZone Programs.
The SBA district and branch office, together with
our resource partners, provided management and
technical assistance, counseling and training to
6 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
The SBA helps business
owners grow and expand
Doing Business in Mississippi their businesses every day.
THE MISSISSIPPI DISTRICT OFFICE SERVICES AVAILABLE Special loan programs are available for
The Mississippi District Office is Financial assistance for new or existing businesses involved in international
responsible for the delivery of SBA’s businesses through guaranteed loans trade.
many programs and services in 70 made by area bank and non-bank
Mississippi counties. The District lenders. A Veterans Affairs Officer is available
Director is Janita R. Stewart. The District to assist veterans. Please contact James
Office is located at Regions Bank Plaza, Free counseling, advice and information McClendon at 601-965-4378 ext. 19 or
210 E. Capitol Street, Suite 900, Jackson, on starting, better operating or expanding e-mail: email@example.com.
MS 39201. Office hours are from 8:30 AM a small business through the Service
until 4:30 PM, Monday through Friday. Corps of Retired Executives (SCORE),
Small Business Development Centers We Welcome Your
THE GULFPORT BRANCH OFFICE (SBDC) and Women’s Business Centers Questions
The Gulfport Branch Office is responsible (WBC). They also conduct training events
for the delivery of SBA’s many programs throughout the state - some require a For extra copies of this publication or
and services in the counties of Forrest, nominal registration fee. questions please contact:
George, Greene, Harrison, Hancock,
Jackson, Jones, Lamar, Pearl River, Perry, Assistance to businesses owned and Mississippi District Office
Stone, and Wayne. The Branch Manager controlled by socially and economically Regions Plaza
is Gary Reed. The Branch Office is disadvantaged individuals through the 210 E. Capitol Street, Suite 900
located at One Hancock Plaza, 2510 14th Business Development Program. Jackson, MS 39201
Street, Suite 103, Gulfport, MS 39501.
Office hours are from 8:00 AM until 4:30 A Women’s Business Ownership Tel: 601-965-4378
PM, Monday through Friday. Representative is available to assist Fax: 601-965-5629 or 601-965-4295
women business owners. Please contact TDD: 800-877-8339
Bridget Johnson-Fells at 228-863-4449,
ext. 225 or email: Bridget.johnson@sba. Website: www.sba.gov/ms
times”, she said. “We grew the business from In May 2011, she traveled to SBA’s National
SUCCESS STORY residential to commercialCoast.” The next phase
casinos came to the Gulf
fencing when the Small Business Week Award celebration in
Washington, D.C. to accept the regional award
Meredith Anderson was government subcontracting work through and compete against other regional winners
the Roy Anderson Corporation. from around the country for the National Prime
Contractor award. She was also recognized
Recipient of SBA Led by Meredith Anderson, Managing Member, and received an award during the Mississippi
Region IV Can’t Be Beat has grown exponentially. The SBA’s 2011 Small Business Award Reception in
Prime Contractor Award firm is certified as HUBZone, 8(a) and a Small Jackson, MS on June 14, 2011.
Disadvantaged Business. It holds certifications
with the Department of Transportation and Anderson was nominated for the regional
Women’s Business Enterprise; is accredited with award by Marcia McDowell, Director of the
BAY ST. LOUIS, MS – People who know the Better Business Bureau; and has garnered South Mississippi Contract Procurement Center
Meredith Smith Anderson are probably not contracts throughout the nation. Since October in Biloxi, MS and Delores Butler, Acquisitions
surprised at her selection as the U. S. Small 2010, Anderson has successfully bid contracts Branch Manager of the Naval Facilities
Business Administration’s Prime Contractor of ranging from $3.5 million for a demolition Engineering Command (NAVFAC) Southeast in
the Year for Region IV. As Managing Member project at the Naval Air Station in Jacksonville, Jacksonville, FL.
of Can’t Be Beat Fence & Construction, LLC, Florida to $12.1 million for a construction project
Anderson has led the limited liability company in Great Lakes, Illinois. For information regarding SBA’s 8(a), HUBZone,
to stability and multi-state growth. Established and Woman-Owned certification programs or
in 1982, the company provides wood, vinyl, The firm’s main office is located in Bay St. small business awards, contact the Mississippi
chain link, and cable barrier fencing to Louis, Mississippi with other office locations in District Office at (601) 965-4378, Gulfport Branch
residential, commercial, and governmental Perkinston, Mississippi; Orange Park, Florida; Office at (228) 863-4449 or visit our website at
entities. and Odon, Indiana. www.sba.gov/ms.
Anderson sort of backed into the fencing The SBA’s Prime Contractor of the Year regional SBA Region IV Prime Contractor
business. She married Lloyd Anderson who award is given to a small business that provides Meredith Anderson, Owner
for years managed Pit Grills on the Coast outstanding goods and services as a prime Can’t Be Beat Construction, LLC
while working in his uncle’s residential fencing contractor to the government and private 1020 Old Spanish Trail
business on weekends. Meredith started sector. Anderson competed against other Bay Saint Louis, MS 39520
helping him and they picked up jobs while prime contracting firms in Alabama, Florida, 228-467-3300
her grandmother helped with the couple’s Georgia, Kentucky, North Carolina, South MLSMER@aol.com
four children, Olen, Davy, Vicky and Dusty. Carolina, and Tennessee to acquire the Southeast www.cbbfc.com/
“That was in the 1970s and those were tough region’s prime contractor of the year award.
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 7
Getting Help to Start Up, Market and Manage Your Business
board for their existing business. As
members of your community, SCORE
mentors understand local business
licensing rules, economic conditions and
important networks. SCORE can help
you as they have done for more than 9
million clients by:
• Matching your specific needs with a
• Traveling to your place of business for
an on-site evaluation
• Teaming with several SCORE mentors
to provide you with tailored assistance
in a number of business areas
Across the country, SCORE offers
nearly 7,000 local business training
workshops and seminars ranging
in topic and scope depending on the
needs of the local business community
such as offering an introduction to
the fundamentals of a business plan,
managing cash flow and marketing your
business. For established businesses,
very year, the U.S. Small recovering from disaster. To find your SCORE offers more in-depth training
Business Administration local district office or SBA resource in areas like customer service, hiring
and its nationwide network partner, visit www.sba.gov/sba-direct. practices and home-based businesses.
For around-the-clock business advice
of resource partners help
millions of potential and SCORE and information on the latest trends go
to the SCORE website (www.score.org).
existing small business owners start, SCORE is a national network of More than 1,500 online mentors with
grow and succeed. over 14,000 entrepreneurs, business over 800 business skill sets answer your
Whether your target market is global leaders and executives who volunteer as questions about starting and running a
or just your neighborhood, the SBA and mentors to America’s small businesses. business. In fiscal year 2011, SCORE
its resource partners can help at every SCORE leverages decades of experience mentors served 400,000 entrepreneurs.
stage of turning your entrepreneurial from seasoned business professionals For information on SCORE and to get
dream into a thriving business. to help small businesses start, grow your own business mentor, visit
If you’re just starting out, the SBA companies and create jobs in local www.sba.gov/score, go to www.SCORE.org
and its resources can help you with communities. SCORE does this by or call 1-800-624-0245 for the SCORE
loans and business management skills. harnessing the passion and knowledge office nearest you.
If you’re already in business, you can of individuals who have owned and
use the SBA’s resources to help manage managed their own businesses and want Gulf Coast SCORE Chapter
and expand your business, obtain to share this “real world” expertise with Dave Philo, Chapter Chairperson
government contracts, recover from you. Hancock Bank Plaza
disaster, find foreign markets, and Found in more than 370 offices and 2510 14th St., Ste. 105
make your voice heard in the federal 800 locations throughout the country, Gulfport, MS 39501
government. SCORE provides key services – both 228-863-0054
You can access SBA information at face-to-face and online – to busy firstname.lastname@example.org
www.sba.gov or visit one of our local entrepreneurs who are just getting www.scoregulfport.org
offices for assistance. started or in need of a seasoned
business professional as a sounding
In addition to our district offices which • You get to be your own boss.
serve every state and territory, SBA ON THE UPSIDE • Hard work and long hours directly benefit you,
works with a variety of local resource rather than increasing profits for someone else.
partners to meet your small business It’s true, there are a lot of
needs. These professionals can help reasons not to start your • Earnings and growth potential are unlimited.
with writing a formal business plan, own business. But for the
locating sources of financial assistance, right person, the advantages • Running a business will provide endless
managing and expanding your business, of business ownership far variety, challenge and opportunities to learn.
finding opportunities to sell your goods outweigh the risks.
or services to the government, and
8 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
Walter Wallace - SCORE The efficacy of the MSBDC program MSBDC Business Assistance Center @
Delta State University Small Business has been validated by a nationwide East Central Community College –
Development Center impact study. Of the clients surveyed, Louisville
DSU Box 3235 more than 80 percent reported that (By appointment)
Cleveland, MS 38733-002 the business assistance they received Louisville Career Advancement Center
email@example.com from the MSBDC counselor was 923 S. Church St.
worthwhile. Similarly, more than 50 Louisville, MS 39327
Jerry Massa - SCORE percent reported that MSBDC guidance 601-635-6296 appointment or
was beneficial in making the decision to
133 Windsong Circle 662-536-1150 (directions)
Belden, MS 38826 start a business. More than 40 percent
firstname.lastname@example.org of long-term clients, those receiving 5 MSBDC Business Assistance Center @
hours or more of counseling, reported an East Central Community College –
increase in sales and 38 percent reported
MISSISSIPPI SMALL BUSINESS an increase in profit margins.
For information on the SBDC Carthage Career Advancement Center
program, visit www.sba.gov/sbdc. 121 W. Main St.
(MSBDC) Mississippi Small Business Development
Carthage, MS 39051
The U.S. Small Business 601-635-6296 appointment or
Center State Office 228-284-0114 (directions)
Administration’s Mississippi Small Walter D. (Doug) Gurley, State Director
Business Development Center University of Mississippi MSBDC @ The University of Mississippi
(MSBDC) program’s mission is to 122 Jeanette Phillips Dr./P.O. Box 1848 – Gulf Coast
build, sustain, and promote small University, MS 38677-1848 Mitch McDowell, Counselor
800-725-7232 in Mississippi or Connie Whit, Counselor
business development and enhance 662-915-5001 • 662-915-5650 Fax
local economies by creating businesses The Innovative Center
email@example.com 1636 Popps Ferry Rd., Ste. 227
and jobs. This is accomplished by the http://mssbdc.org Biloxi, MS 39532
provision and ensuing oversight of 228-396-8661 • 228-392-9743 Fax
grants to colleges, universities and state Copiah-Lincoln Community College SBDC firstname.lastname@example.org
Jeff Waller, Director www.mssbdc.org
governments so that they may provide
The Thames Center
business advice and training to existing (Monday) Hinds Community College SBDC/
and potential small businesses. 1028 Redd Dr. International Trade Center
The Mississippi Small Business Wesson, MS 39191 James Harper, Director
Development Center program, vital 601-643-8712 • 601-643-8277 Fax PMB 11263/P.O. Box 1100
to SBA’s entrepreneurial outreach, email@example.com 1500 Raymond Lake Rd., 3rd Fl.
has been providing service to small www.colin.edu/workforceed/#SBDC Raymond, MS 39154-1100
businesses for more than 30 years. It 601-857-3536 • 601-857-3474 Fax
is one of the largest professional small Co-Lin SBDC firstname.lastname@example.org
business management and technical Business Assistance Center – Natchez www.hindscc.edu:80/Departments/
(By Appointment Only) economic_development/Small_Biz.aspx
assistance networks in the nation. With
11 Co-Lin Circle
over 900 locations across the country, Natchez, MS
MSBDCs offer free one-on-one expert HCC SBDC
601-446-1168 Business Assistance Center – Rankin
business advice and low-cost training by
qualified small business professionals to Campus
Southwest Mississippi CC SBDC (Wed., Thurs. & Fri.)
existing and future entrepreneurs. Business Assistance Center – Summit James Bennett, Counselor
In addition to its core services, the (Tuesday) 3805 Hwy. 80 E.
MSBDC program offers special focus College Dr. Pearl, MS 39208
areas such as green business technology, Summit, MS 39666 601-936-1817
disaster recovery and preparedness, 601-276-3890 • 601-276-3883 Fax email@example.com
international trade assistance, veteran’s
assistance, technology transfer and East Central Community College SBDC Jackson State University SBDC
regulatory compliance. Ronald Westbrook, Director Sydney Brown, Director
52 9th St./P.O. Box 129 JSU Mississippi E-Center
The program combines a unique
Decatur, MS 39327-0129 1230 Raymond Rd./P.O. Box 500
mix of federal, state and private 601-635-6296 • 601-635-4031 Fax
sector resources to provide, in every Jackson, MS 39204
firstname.lastname@example.org 601-979-2795 • 601-914-0833 Fax
state and territory, the foundation www.eccc.edu/sbdc/
for the economic growth of small email@example.com
businesses. The return on investment MSBDC Business Assistance Center
is demonstrated by the program during @ East Central Community College – JSU SBDC
2011: Philadelphia Business Assistance Center – WIN Job
• Assisted more than 13,660 entrepreneurs (Tuesday) Center – Canton
to start new businesses – equating to 37 Neshoba Business Enterprise Center (Thurs.)
new business starts per day. 1018 Saxton Airport Rd., Ste. 101 152 Watford Park Way Dr.
• Provided counseling services to over Philadelphia, MS 39350 Canton, MS 39046
106,000 emerging entrepreneurs and 601-635-6296 or 601-389-0803 (directions)
nearly 100,000 existing businesses.
• Provided training services to
approximately 353,000 clients.
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 9
Jones County Junior College SBDC Business Incubators Mississippi Enterprise for Technology
Gary Suddith, Director Business incubators nurture young Bldg. 1103, Ste. 143
Advanced Technology Center firms, helping them survive and Stennis Space Center, MS 39529
72 Technology Blvd. grow during the start-up period, by Charles E. Beasley, Technology Incubation
Ellisville, MS 39437 Manager
offering shared office services, access
601-477-4235 • 601-477-4239 Fax 228-688-2083 • 228-688-1064 Fax
to equipment, flexible leases, and www.mset.org
www.jcjc.edu/depts/sbdc/contact.htm expandable space all under one roof.
Incubators also provide hands-on Neshoba Business Enterprise Center
Mississippi State University SBDC management assistance, access to 1016 Saxon-Airport Rd.
Hamp Beatty, Director financing and orchestrated exposure to Philadelphia, MS 39350
190 N. Bost, Ste. 405A critical business or technical support David Vowell, President, Community
MS State, MS 39762-5288 services. Some incubators accept Development Partnership
662-325-8684 • 662-325-4016 Fax a mix of industries, while others 601-389-0803
firstname.lastname@example.org concentrate on industry niches. email@example.com
www.cbi.msstate.edu/sbdc According to the National Business www.neshoba.org
Incubation Association, incubators
MSU SBDC Business Assistance Center fall into classifications of Technology, Northeast Mississippi Business Incubation
East MS Business Development Manufacturing, Service or Sectorally System
Corporation Office – Meridian Corinth Facility
Targeted (i.e. - biomedical, wood
(Tues. & Wed.) 1828 Proper St.
Sonny Fisher, Counselor products, arts, food production, fashion, Corinth, MS 38834
Doc Braswell, Counselor etc.). Ray McClellan, Executive Director
1901 Front St., Ste. A 662-287-4369 • 662-287-1214 Fax
Meridian, MS 39302 Alcorn State University Technology firstname.lastname@example.org
601-693-1306 • 601-693-5638 Fax Incubator
email@example.com 101 N. Wall St./P.O. Box 982 Northeast Mississippi Business Incubation
firstname.lastname@example.org Natchez, MS 39121 System
Brent Bourland, Manager Iuka Facility
University of Mississippi SBDC 601-442-0202 2021 Seago Rd.
James Carden, Director email@example.com Iuka, MS 38852
122 Jeanette Phillips Dr./P.O. Box 1848 Ray McClellan, Executive Director
University, MS 38677-1848 Coahoma County Business Development 662-287-4369 • 662-287-1214 Fax
662-915-1291 or 800-725-7232 Toll Free Center firstname.lastname@example.org
662-915-5650 Fax P.O. Box 160
email@example.com Clarksdale, MS 38614 Northeast Mississippi Business Incubation
www.mssbdc.org Tana Vassell, Manager System
662-627-7337 • 662-627-1313 Fax Ripley Facility
UM SBDC Business Assistance Center firstname.lastname@example.org 401 CR 565
Northeast Community College Campus – Ripley, MS 38663
Corinth Golden Triangle Enterprise Center Ray McClellan, Executive Director
(Wed. & Thurs.) 1 Research Blvd., Ste. 204 662-287-4369 • 662-287-1214 Fax
Katie Drewry, Counselor Starkville, MS 39759 email@example.com
2759 South Harper Rd. Jon Maynard, Manager
Corinth, MS 38834-9272 662-323-3322 NorthMiss Enterprise Initiative
662-696-2311 www.gtec.org Oxford Enterprise Center
firstname.lastname@example.org 9 Industrial Park Dr., Ste. 104
Jackson County Small Business Incubator Oxford, MS 38655-5343
UM SBDC Business Assistance Center 4836 Main St. Holly Kelly, Executive Director
The Renasant Center for Ideas – Tupelo Moss Point, MS 39563 662-281-0720 • 662-561-0790 Fax
(Tues. & Thurs.) Janice Mabry, Director email@example.com
398 E. Main St. 228-475-3341 www.northmiss.org
Tupelo, MS 38801 firstname.lastname@example.org
662-680-6988 NorthMiss Enterprise Initiative
email@example.com Kemper County Industrial Incubator Batesville Enterprise Center
Center, Inc. 275 Nosef Dr.
UM SBDC Business Assistance Center – 102 Industrial Park Dr. Batesville, MS 38606-2729
Desoto County DeKalb, MS 39328 Holly Kelly, Executive Director
Rick Schneider, Counselor Brian Henson, Executive Director 662-281-0720 • 662-561-0790 Fax
662-915-1291 601-743-2754 • 601-743-2760 Fax firstname.lastname@example.org
email@example.com firstname.lastname@example.org www.northmiss.org
UM SBDC Business Assistance Center – Mississippi e-Business Innovation Center NorthMiss Enterprise Initiative
Delta 1230 Raymond Rd. Grenada Enterprise Center
University of Mississippi SBDC Jackson, MS 39204 500 Enterprise Dr.
800-725-7232 Dr. William McHenry Grenada, MS 38901-9544
email@example.com Executive Director of the MS e-Center@JSU Holly Kelly, Executive Director
601-979-1246 662-281-0720 • 662-561-0790 Fax
10 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
Renasant Center for IDEAs and vitality. In addition, WBCs helped becoming SBA 8(a) certified firms;
Tupelo/Lee County Regional Business entrepreneurs access more than $134 nearly 25 percent of respondents are
Incubator million dollars in capital, representing currently certified as SBA 8(a) firms,
308 E. Main St. a 400% increase from the previous year. while other participants reported a
Tupelo, MS 38804 focused intention on applying to the 8(a)
Of the WBC clients that have received 3 program.
Wayne Averett, Manager or more hours of counseling, 15 percent
662-823-IDEA • 662-823-7234 Fax • Nearly 50 percent of participating
indicated that the services led to hiring respondents were female executives
www.renasantcenterforideas.com new staff, 34 percent indicated that and 70 percent were minority business
the services led to an increased profit executives.
The Innovation Center
1636 Popps Ferry Rd. margin, and 47 percent indicated that • 85 percent of responding executives
the services led to an increase in sales. were Satisfied or Very Satisfied with the
Biloxi, MS 39532 overall training series and results.
Stephen Whitt, Executive Director In addition, the WBC program has
228-392-9741 • 228-392-9743 Fax taken a lead in preparing women To find out more about this executive-
firstname.lastname@example.org business owners to apply for the level training opportunity, please
www.innovatems.com Women-Owned Small Business visit www.sba.gov/e200 for host cities,
(WOSB) Federal Contract program training schedules, and selection
Winston County Economic Development that authorizes contracting officers to criteria.
District set aside certain federal contracts for
P.O. Box 551
Louisville, MS 39339
eligible women-owned small businesses
or economically disadvantaged women-
Gerald Mills, Executive Director
owned small businesses. For more TOOLS AND TRAINING
information on the program, visit SBA’s Small Business Training
662-773-8719 • 662-773-8909 Fax
email@example.com www.sba.gov/wosb. Network is a virtual campus complete
www.winstoncounty.com To find the nearest SBA WBC, visit with free online courses, workshops,
www.sba.gov/women. podcasts, learning tools and business-
WOMEN’S BUSINESS CENTERS Mississippi Action for Community Key Features of the Small Business
The SBA’s Women Business Center Education, Inc. (MACE) Women’s Training Network:
Business Center Training is available anytime and
(WBC) program is a network of 110 William M. Brown, Director
community-based centers which provide anywhere — all you need is a computer
119 S. Theobald St.
business training, coaching, mentoring Greenville, MS 38701 with Internet access.
and other assistance geared toward 662-335-3523 Office • More than 30 free online courses and
women, particularly those who are 662-580-1017 Fax workshops available.
socially and economically disadvantaged. www.deltamace.org • Templates and samples to get your
WBCs are located in nearly every state business planning underway.
• Online, interactive assessment tools are
and U.S. territory and are partially
funded through a cooperative agreement EMERGING LEADERS featured and used to direct clients to
with the SBA. (e200) INITIATIVE appropriate training.
Course topics include a financial
To meet the needs of women SBA’s Emerging Leaders (e200) primer keyed around SBA’s loan-
entrepreneurs, WBCs offer services Initiative is currently hosted in 27 guarantee programs, a course on
at convenient times and locations, markets across the country using a exporting, and courses for veterans
including evenings and weekends. nationally demonstrated research-based and women seeking federal
WBCs are located within non-profit host curriculum that supports the growth and contracting opportunities, as well as
organizations that offer a wide variety development of small to medium-sized an online library of podcasts, business
of services in addition to the services firms that have substantial potential publications, templates and articles.
provided by the WBC. Many of the for expansion and community impact.
WBCs also offer training and counseling Visit www.sba.gov/training for these
A competitive selection process results free resources.
and provide materials in different in company executives participating in
languages in order to meet the diverse high-level training and peer-networking
needs of the communities they serve. sessions led by professional instructors.
WBCs often deliver their services Post-training, social and economic
through long-term training or group impact results from responding
counseling, both of which have shown to executives who participated in the 2008
be effective. WBC training courses are – 2010 training classes indicate:
often free or are offered at a small fee. • More than half of participating
Some centers will also offer scholarships businesses reported an increase in
based on the client’s needs revenue, with an average revenue of
While most WBCs are physically $1,879,266.
located in one designated location, a • Participating businesses averaged $2
number of WBCs also provide courses million in revenue, with new cumulative
financing of $7.2 million secured in 2010.
and counseling via the Internet, mobile • Nearly half of the participants secured
classrooms and satellite locations. federal, state, local and tribal contracts
WBCs have a track record of success. with a cumulative total of $287 million.
In fiscal year 2011, the WBC program • Approximately half of the participants
counseled and trained nearly 139,000 have hired new workers, creating 275
clients, creating local economic growth new jobs in 2010.
• All participants were trained on
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 11
REACHING UNDERSERVED COMMUNITIES
SBA also offers a number of programs
specifically designed to meet the needs
management, and marketing, as well as
access to all of the SBA’s financial and
CENTER FOR FAITH-BASED AND
of the underserved communities. procurement assistance programs.
Faith-Based and Neighborhood
SBA Services to Help Women
WOMEN BUSINESS OWNERS Succeed in Business
Partnerships know their communities,
and they have earned the communities
Women entrepreneurs are changing The Women’s Network for trust. Because of their credibility,
the face of America’s economy. In the Entrepreneurial Training (WNET) they are uniquely positioned to build
1970s, women owned less than five Program - WNET, a program of the awareness of programs that encourage
percent of the nation’s businesses. SBA’s Office of Women’s Business entrepreneurship, economic growth and
Today, they are majority owners Ownership, provides networking job creation.
of about a third of the nation’s small opportunities through the WNET SBA is committed to reaching
businesses and are at least equal owners Round-tables. These gatherings allow out to faith-based and community
of about half of all small businesses. participants to share their experiences, organizations that are eligible to
SBA serves women entrepreneurs and receive practical support and participate in the agency’s programs by
nationwide through its various programs guidance from a wide range of informing their congregants, members
and services, some of which are designed knowledgeable business counselors in an and neighbors about SBA’s programs.
especially for women. informal setting. Women entrepreneurs In particular, many faith-based and
The SBA’s Office of Women’s Business can use this medium to attain a wealth community non-profit organizations
Ownership (OWBO) serves as an of expert knowledge that can make the can provide a local financing option
advocate for women-owned businesses. difference between success and failure. for entrepreneurs by becoming SBA
OWBO oversees a nationwide network
of 110 women’s business centers that Microloan Intermediaries. An SBA
Mississippi Women’s Business Microloan Intermediary often acts as
provide business training, counseling
Centers a bank for entrepreneurs and small
and mentoring geared specifically to
The Mississippi Action for businesses that might otherwise be
women, especially those who are socially
Community Education, Inc. (MACE) unable to find access to capital.
and economically disadvantaged. The
offers to the Delta region, the Mid-Delta
program is a public-private partnership
with locally-based nonprofits.
Women’s Entrepreneurial Training
and Technical Assistance Program VETERANS AND RESERVISTS
Women’s Business Centers serve
a wide variety of geographic areas,
(WE-TAP). The program is designed to BUSINESS DEVELOPMENT
create an alternative and non-traditional Veterans, service-disabled veterans
population densities, and economic
means of economic support for low- and Reserve and National Guard
environments, including urban,
income women in rural Mississippi member entrepreneurs receive
suburban, and rural. Local economies
through a hands-on approach to special consideration in all of SBA’s
vary from depressed to thriving, and
business counseling services, long-term entrepreneurial programs and resources.
range from metropolitan areas to entire
training and technical assistance. Since Each year, the Office of Veterans
states. Each Women’s Business Center
1967, MACE has been in the forefront
tailors its services to the needs of its Business Development (OVBD)
of economic development initiatives in
individual community, but all offer a reaches thousands of veterans, Reserve
the Delta by utilizing and building on
variety of innovative programs, often Component members, transitioning
the human resource potential of Delta
including courses in different languages. service members and others who are –
They provide training in finance, or who want to become – entrepreneurs
Mississippi Action for Community and small business owners. OVBD
Education, Inc. Women’s Business Center develops and distributes informational
William M. Brown, Director materials for entrepreneurship such as
119 S. Theobald St. the Veterans Business Resource Guide,
Greenville, MS 38701 VETGazette, and Getting Veterans
662-335-3523 • 662-580-1017 Fax
firstname.lastname@example.org Back to Work. In addition, there
are 16 Veterans Business Outreach
Online Women’s Business Center Centers strategically located throughout
The SBA also makes available the the country that provide both online
Online Women’s Business Center which and in-person training, counseling,
offers resources via the Internet for mentoring, workshops, referrals, and
those unable to utilize the services of more. Each of the SBA’s 68 District
the Women’s Business Center. Visit the Offices also has a designated veteran’s
Online Women’s Business Center at: business development officer.
www.sba.gov/aboutsba/sbaprograms/ The SBA offers special assistance for
onlinewbc small businesses owned by activated
12 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
REACHING UNDERSERVED COMMUNITIES
Reserve and National Guard members. to reach women veteran-entrepreneurs and expand small businesses have
Any self-employed Reserve or Guard (www.syr.edu/vwise) , and a program for full access to the necessary business
member with an existing SBA loan can Reserve Component family members development and expansion tools
request from their SBA lender or SBA called Operation Endure and Grow available through the agency’s
district office loan payment deferrals, (www.whitman.syr.edu/endureandgrow). entrepreneurial development, lending,
interest rate reductions and other relief For more information about small and contracting programs. ONAA
after they receive their activation orders. business lending programs for veteran provides a network of training (including
In addition, the SBA offers special business owners and Reserve or the online tool “Small Business
low-interest-rate financing to small Guard members who are activated, Primer: Strategies for Growth”) and
businesses when an owner or essential including Patriot Express, microloans, counseling services and engages in
employee is called to active duty. The and Advantage loans, see the section numerous outreach activities, such as
Military Reservist Economic Injury tribal consultations, development and
on Access to Capital. To learn more
distribution of educational materials,
Disaster Loan Program (MREIDL) about the Veterans Business Outreach
attendance and participation in
provides loans up to $2 million to eligible program or find the nearest SBA VBOC,
economic development events and
small businesses to cover operating costs visit www.sba.gov/vets.
assisting these small businesses with
that cannot be met due to the loss of an
essential employee called to active duty
in the Reserves or National Guard.
NATIVE AMERICAN Visit www.sba.gov/naa for more
Among the SBA’s unique services for BUSINESS DEVELOPMENT information.
veterans are: an Entrepreneurship Boot The SBA Office of Native American
Camp for Veterans with Disabilities in Affairs (ONAA) ensures American
partnership with 6 top U.S. universities Indians, Alaska Natives and Native
(www.whitman.syr.edu/ebv), a program Hawaiians seeking to create, develop
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 13
ARE YOU RIGHT FOR SMALL BUSINESS OWNERSHIP?
Most new business owners who
succeed have planned for every phase
own shoulders. Strong motivation
will help you survive slowdowns and
periods of burnout. Going to work used to mean
of their success. Thomas Edison, the
• How will the business affect traveling from home to a plant, store or
great American inventor, once said,
your family? The first few years of office. Today, many people do some or
“Genius is 1 percent inspiration and all their work at home.
business start-up can be hard on
99 percent perspiration.” That same
family life. It’s important for family
philosophy also applies to starting a members to know what to expect Getting Started
business. and for you to be able to trust that Before diving headfirst into a home-
First, you’ll need to generate a little they will support you during this based business, you must know why
bit of perspiration deciding whether time. There also may be financial you are doing it. To succeed, your
you’re the right type of person to start difficulties until the business becomes business must be based on something
your own business. profitable, which could take months greater than a desire to be your
or years. You may have to adjust to a own boss. You must plan and make
IS ENTREPRENEURSHIP lower standard of living or put family
assets at risk.
improvements and adjustments along
FOR YOU? Once you’ve answered those Working under the same roof where
There is simply no way to eliminate questions, you should consider what your family lives may not prove to be
all the risks associated with starting type of business you want to start. as easy as it seems. One suggestion is
a small business, but you can improve Businesses can include franchises, to set up a separate office in your home
your chances of success with good at-home businesses, online businesses, to create a professional environment.
planning, preparation, and insight. brick-and-mortar stores or any Ask yourself these questions:
Start by evaluating your strengths combination of those. • Can I switch from home
responsibilities to business work
and weaknesses as a potential owner easily?
and manager of a small business.
Carefully consider each of the following
FRANCHISING • Do I have the self-discipline to
maintain schedules while at home?
There are more than 3,000 business • Can I deal with the isolation of
• Are you a self-starter? It will be
franchises. The challenge is to decide working from home?
entirely up to you to develop projects, on one that both interests you and is
organize your time, and follow a good investment. Many franchising Legal Requirements
through on details. experts suggest that you comparison A home-based business is subject to
• How well do you get along with shop by looking at multiple franchise many of the same laws and regulations
different personalities? Business opportunities before deciding on the affecting other businesses.
owners need to develop working one that’s right for you. Some general areas include:
relationships with a variety of Some of the things you should • Zoning regulations. If your business
people including customers, vendors, look at when evaluating a franchise: operates in violation of them, you
staff, bankers, employees, and historical profitability, effective could be fined or shut down.
professionals such as lawyers, • Product restrictions. Certain
financial management and other
accountants, or consultants. Can products cannot be produced in the
controls, a good image, integrity and home. Most states outlaw home
you deal with a demanding client, commitment, and a successful industry.
an unreliable vendor, or a cranky production of fireworks, drugs,
In the simplest form of franchising, poisons, explosives, sanitary or
receptionist if your business interests
while you own the business, its medical products and toys. Some
• How good are you at making operation is governed by the terms of states also prohibit home-based
decisions? Small business owners are the franchise agreement. For many, businesses from making food, drink
required to make decisions constantly this is the chief benefit for franchising. or clothing.
– often quickly, independently, and You are able to capitalize on a business Be sure to consult an attorney and
under pressure. format, trade name, trademark and/ your local and state departments
• Do you have the physical and or support system provided by the of state, labor and health to find
emotional stamina to run a franchisor. But you operate as an out which laws and regulations will
business? Business ownership can independent contractor with the ability affect your business. Additionally,
be exciting, but it’s also a lot of work. to make a profit or sustain a loss check on registration and accounting
Can you face six or seven 12–hour commensurate with your ownership. requirements needed to open your
workdays every week? If you are concerned about starting home-based business. You may need
• How well do you plan and a work certificate or license from the
an independent business venture, then
organize? Research indicates that
franchising may be an option for you. state. Your business name may need
poor planning is responsible for most
business failures. Good organization
Remember that hard work, dedication to be registered with the state. A
— of financials, inventory, schedules, and sacrifice are key elements in separate business telephone and bank
and production — can help you avoid the success of any business venture, account are good business practices.
many pitfalls. including a franchise. Also remember, if you have
• Is your drive strong enough? Visit www.sba.gov/franchise for more employees you are responsible for
Running a business can wear you information. withholding income and social-
down emotionally. Some business security taxes, and for complying with
owners burn out quickly from having minimum wage and employee health
to carry all the responsibility for the and safety laws.
success of their business on their
14 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
WRITING A BUSINESS PLAN
After you’ve thought about what
type of business you want, the
next step is to develop a business
plan. Think of the business plan
as a roadmap with milestones
for the business. It begins as a
pre-assessment tool to determine
profitability and market share, then
expands as an in-business assessment
tool to determine success, obtain
financing and determine repayment
ability, among other factors.
Creating a comprehensive business
plan can be a long process, and you
need good advice. The SBA and its
resource partners, including Small
Business Development Centers,
Women’s Business Centers, Veterans
Business Outreach Centers, and
SCORE, have the expertise to help you
craft a winning business plan. SBA
also offers online templates to get you Marketing • Provide projected income statements,
started. • Discuss the products and services and balance sheets for a two-year
In general, a good business plan your company will offer. period.
• Identify customer demand for your • Discuss your break-even point.
contains: • Explain your personal balance sheet
products and services.
Introduction • Identify your market, its size and and method of compensation.
• Give a detailed description of the locations. • Discuss who will maintain your
business and its goals. • Explain how your products and accounting records and how they will
• Discuss ownership of the business services will be advertised and be kept.
and its legal structure. marketed. • Provide “what if” statements
• List the skills and experience you • Explain your pricing strategy. addressing alternative approaches to
bring to the business. potential problems.
• Discuss the advantages you and your Financial Management
business have over competitors. • Develop an expected return on Operations
investment and monthly cash flow for • Explain how the business will be
the first year. managed day-to-day.
• Discuss hiring and personnel
• Discuss insurance, lease or rent
agreements, and issues pertinent to
• Account for the equipment necessary
to produce your goods or services.
• Account for production and delivery
of products and services.
Summarize your business goals
and objectives and express your
commitment to the success of your
business. Once you have completed
your business plan, review it with
a friend or business associate and
professional business counselor
like SCORE, WBC or SBDC
representatives, SBA district office
business development specialists
or veterans business development
Remember, the business plan is a
flexible document that should change
as your business grows.
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 15
Financing Options to Start or Grow Your Business
program because of its flexibility in
loan structure, variety of loan proceed
uses, and availability. The program has
broad eligibility requirements and credit
criteria to accommodate a wide range of
The business loans that SBA
guarantees do not come from the
agency, but rather from banks and other
approved lenders. The loans are funded
by these organizations, and they make
the decisions to approve or not approve
the applicants’ requests.
The SBA guaranty reduces the
lender’s risk of borrower non-payment.
If the borrower defaults, the lender
can request SBA to pay the lender that
percentage of the outstanding balance
guaranteed by SBA. This allows the
lender to recover a portion from SBA of
what it lent if the borrower can’t make
the payments. The borrower is still
obligated for the full amount.
any entrepreneurs need the applicant small business, the lender To qualify for an SBA loan, a small
financial resources to start and the SBA. SBA guarantees a portion business must meet the lender’s
or expand a small business of the loan (except for Microloans). criteria and the 7(a) requirements. In
themselves and must The business should have its business addition, the lender must certify that it
combine what they have plan prepared before it applies for a would not provide this loan under the
with other sources of financing. These loan. This plan should explain what proposed terms and conditions unless
sources can include family and friends, resources will be needed to accomplish it can obtain an SBA guaranty. If the
venture-capital financing, and business the desired business purpose including SBA is going to provide a lender with
loans. the associated costs, the applicants’ a guaranty, the applicant must be
This section of the Small Business contribution, use of loan proceeds, eligible and creditworthy and the loan
Resource guide discusses SBA’s primary collateral, and, most important, an structured under conditions acceptable
business loan and equity financing explanation of how the business will to SBA.
programs. These are: the 7(a) Loan be able to repay the loan in a timely
Program, the Certified Development manner. Percentage of Guaranties
Company or 504 Loan Program, the The lender will analyze the and Loan Maximums
Microloan Program and the Small application to see if it meets the lender’s The SBA only guarantees a portion of
Business Investment Company criteria and SBA’s requirements. SBA any particular loan so each loan will also
Program. The distinguishing features will look to the lender to do much, if not have an unguaranteed portion, giving
for these programs are the total dollar all, of the analysis before it provides the lender a certain amount of exposure
amounts that can be borrowed, the type its guaranty on the lender’s loan. In and risk on each loan. The percentage
of lenders who can provide these loans, the case of microlenders, SBA loans SBA guarantees depends on either the
the uses for the loan proceeds, and the these intermediaries funds at favorable dollar amount or the program the lender
terms placed on the borrower. rates to re-lend to businesses with uses to obtain its guaranty. For loans of
$150,000 or less the SBA may guaranty
Note: The SBA does not offer grants financing needs up to $50,000. The
as much as 85 percent and for loans
to individual business owners to start or SBA’s business loan programs provide a
over $150,000 the SBA can provide a
grow a business. key source of financing for viable small
guaranty of up to 75 percent.
businesses that have real potential but
SBA BUSINESS LOANS cannot qualify for long-term, stable
The maximum 7(a) loan amount
is $5 million. (Loans made under
If you are contemplating a business the SBAExpress program, which is
loan, familiarize yourself with the discussed later in this section, have a 50
SBA’s business loan programs to see 7(a) LOAN PROGRAM percent guaranty.)
if they may be a viable option. Keep The 7(a) Loan program is the SBA’s
in mind the dollar amount you seek to primary business loan program. It Interest Rates and Fees
borrow and how you want to use the is the agency’s most frequently used The actual interest rate for a 7(a)
loan proceeds. The three principal loan guaranteed by SBA is negotiated
non-disaster financial assistance
players in most of these programs are between the applicant and lender and
16 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
subject to SBA maximums. Both fixed for variable rate loans the lender can to the extent that they are reasonably
and variable interest rate structures re-establish the payment amount available. Personal guaranties are
are available. The maximum rate is when the interest rates change or at required from all the principal owners of
comprised of two parts, a base rate and other intervals, as negotiated with the business. Liens on personal assets of
an allowable spread. There are three the borrower. Applicants can request the principals may be required.
acceptable base rates (Wall Street that the lender establish the loan with Eligibility
Journal Prime*, London Interbank One interest-only payments during the 7(a) loan eligibility is based on four
Month Prime plus 3 percent, and an start-up and expansion phases (when different factors. The first is size, as
SBA Peg Rate). Lenders are allowed eligible) to allow the business time to all loan recipients must be classified as
to add an additional spread to the base generate income before it starts making “small” by SBA. The basic size standards
rate to arrive at the final rate. For full loan payments. Balloon payments are outlined below. A more in-depth
loans with maturities of less than seven or call provisions are not allowed on any listing of standards can be found at
years, the maximum spread will be no 7(a) loan. The lender may not charge a
more than 2.25 percent. For loans with prepayment penalty if the loan is paid
maturities of seven years or more, the off before maturity, but the SBA will SBA Size Standards have the following
maximum spread will be 2.75 percent. charge the borrower a prepayment fee general ranges:
The spread on loans under $50,000 if the loan has a maturity of 15 or more • Manufacturing — from 500 to 1,500
and loans processed through Express years and is pre-paid during the first employees
procedures may be higher. three years. • Wholesale Trades — Up to 100
Loans guaranteed by SBA are employees
Collateral • Services — $2 million to $35.5 million
assessed a guaranty fee. This fee is
The SBA expects every 7(a) loan to in average annual receipts
based on the loan’s maturity and the • Retail Trades — $7 million to $35.5
dollar amount guaranteed, not the be fully secured, but the SBA will not
decline a request to guaranty a loan if million in average annual receipts
total loan amount. The guaranty fee is the only unfavorable factor is insufficient • Construction — $7 million to $33.5
initially paid by the lender and then million in average annual receipts
collateral, provided all available
passed on to the borrower at closing. • Agriculture, Forestry, Fishing, and
collateral is offered. What these two Hunting — $750,000 to $17.5 million
The funds to reimburse the lender can policies mean is that every SBA loan in average annual receipts
be included in the loan proceeds. is to be secured by all available assets There is an alternate size standard
On any loan with a maturity of one (both business and personal) until the
recovery value equals the loan amount for businesses that do not qualify under
year or less, the fee is just 0.25 percent their industry size standards for SBA
of the guaranteed portion of the loan. or until all assets have been pledged
funding – tangible net worth
On loans with maturities of more than
one year, the normal guaranty fee is 2
percent of the SBA guaranteed portion
on loans up to $150,000; 3 percent on
loans over $150,000 but not more than
$700,000; and 3.5 percent on loans over
$700,000. There is also an additional
fee of 0.25 percent on any guaranteed
portion over $1 million.
* All references to the prime rate
refer to the base rate in effect on the
first business day of the month the
loan application is received by SBA.
7(a) Loan Maturities
SBA loan programs are generally
intended to encourage longer term small
business financing, but actual loan
maturities are based on the ability to
repay, the purpose of the loan proceeds
and the useful life of the assets financed.
However, maximum loan maturities
have been established: 25 years for real
estate; up to 10 years for equipment
(depending on the useful life of the
equipment); and generally up to seven
years for working capital. Short-term
loans and revolving lines of credit are
also available through the SBA to help
small businesses meet their short-term
and cyclical working capital needs.
Most 7(a) loans are repaid with
monthly payments of principal and
interest. For fixed-rate loans the
payments stay the same, whereas
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 17
($15 million or less) and average net
income ($5 million or less for two What To Take To The Lender
years). This new alternate makes
more businesses eligible for SBA loans Documentation requirements may For the Standard, Certified and
and applies to SBA non-disaster loan vary; contact your lender for the Preferred methods, the applicant
programs, namely its 7(a) Business information you must supply. fills out SBA Form 4, and the lender
Loans and Development Company Common requirements include the completes SBA Form 4-1. When
programs. following: requests for guarantees are processed
• Purpose of the loan using Express or Advantage methods,
Nature of Business • History of the business the applicant uses more of the regular
The second eligibility factor is based • Financial statements for three years forms of the lender and just has a few
on the nature of the business and the (existing businesses)
• Schedule of term debts (existing federal forms to complete. When SBA
process by which it generates income or receives a request that is processed
the customers it serves. The SBA has businesses)
• Aging of accounts receivable and through Standard or Certified
general prohibitions against providing
financial assistance to businesses
payable (existing businesses) Lender Program procedures, it either
• Projected opening-day balance sheet reanalyzes or reviews the lender’s
involved in such activities as lending, (new businesses)
speculating, passive investment, eligibility and credit analysis before
• Lease details
pyramid sales, loan packaging, • Amount of investment in the business
deciding to approve or reject. For
presenting live performances of a by the owner(s) requests processed through Preferred
prurient sexual nature, businesses • Projections of income, expenses and Lender Program or Express programs,
involved in gambling and any illegal cash flow as well as an explanation of the lender is delegated the authority to
activity. the assumptions used to develop these make the credit decision without SBA’s
The SBA also cannot loan guaranties projections concurrences, which helps expedite the
to non-profit businesses, private clubs • Personal financial statements on the processing time.
that limit membership on a basis principal owners
• Resume(s) of the principal owners and In guaranteeing the loan, the SBA
other than capacity, businesses that managers. assures the lender that, in the event the
promote a religion, businesses owned by borrower does not repay the loan, the
individuals incarcerated or on probation government will reimburse the lending
or parole, municipalities, and situations How the 7(a) Program Works
Applicants submit their loan institution for a portion of its loss. By
where the business or its owners
application to a lender for the initial providing this guaranty, the SBA is
previously failed to repay a federal loan
review. The lender will generally able to help tens of thousands of small
or federally assisted financing.
review the credit merits of the request businesses every year get financing
before deciding if they will make the they might not otherwise obtain.
Use of Proceeds
The third eligibility factor is use of loan themselves or if they will need an After SBA approval, the lender
proceeds. 7(a) proceeds can be used SBA guaranty. If a guaranty is needed, is notified that its loan has been
to: purchase machinery; equipment; the lender will also review eligibility. guaranteed. The lender then will
fixtures; supplies; make leasehold The applicant should be prepared to work with the applicant to make sure
improvements; as well as land and/or complete some additional documents the terms and conditions are met
buildings that will be occupied by the before the lender sends the request before closing the loan, disbursing the
business borrower. for guaranty to the SBA. Applicants funds, and assuming responsibility
Proceeds can also be used to: who feel they need more help with the for collection and general servicing.
• Expand or renovate facilities; process should contact their local SBA The borrower makes monthly loan
• Acquire machinery, equipment, district office or one of SBA’s resource payments directly to the lender. As with
furniture, fixtures and leasehold partners for assistance. any loan, the borrower is responsible for
improvements; There are several ways a lender
• Finance receivables and augment repaying the full amount of the loan in
can apply for a 7(a) guaranty from
working capital; a timely manner.
• Finance seasonal lines of credit; SBA. The main differences between
• Acquire businesses; these methods are related to the
• Start up businesses; documentation which the lender What the SBA Looks for:
• Construct commercial buildings; and provides, the amount of review which • Ability to repay the loan on time from
• Refinance existing debt under certain SBA conducts, the amount of the loan the projected operating cash flow;
conditions. and the lender responsibilities in case • Owners and operators who are of good
SBA 7(a) loan proceeds cannot be used the loan defaults and the business’ character;
for the purpose of making investments. assets must be liquidated. The methods • Feasible business plan;
SBA proceeds cannot be used to are: • Management expertise and
provide funds to any of the owners • Standard 7(a) Guaranty
commitment necessary for success;
of the business except for ordinary • Certified Lender Program
• Sufficient funds, including the SBA
compensation for actual services • Preferred Lender Program
guaranteed loan, to operate the
provided. • Rural Lender Advantage
business on a sound financial basis
(for new businesses, this includes the
• SBA Express
Miscellaneous Factors • Patriot Express
resources to meet start-up expenses
The fourth factor involves a variety and the initial operating phase);
• Export Express
of requirements such as SBA’s credit • Adequate equity invested in the
• Small Loan Advantage
elsewhere test and utilization of business; and
• Community Advantage
personal assets requirements, where the • Sufficient collateral to secure the loan
business and its principal owners must or all available collateral if the loan
use their own resources before getting a cannot be fully secured.
18 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
loan guaranteed by SBA. It also includes up to 50 percent of an SBAExpress loan. BankPlus
SBA’s anti-discrimination rules and Loans under $25,000 do not require Paul Howell, Senior Vice President
limitations on lending to agricultural collateral. The use of loan proceeds is 1068 Highland Colony Pkwy., Ste. 200
enterprises because there are other the same as for any basic 7(a) loan. Like Ridgeland, MS 39157
agencies of the federal government with most 7(a) loans, maturities are usually 601-898-4846 • 601-898-2873 Fax
programs to fund such businesses. five to seven years for working capital
Generally, SBA loans must meet the and up to 25 years for real estate or Century Bank
following criteria: equipment. Revolving lines of credit are Renee Mason, Loan Officer
• Every loan must be for a sound 4282 Main St.
allowed for a maximum of seven years. Lucedale, MS 39452
• There must be sufficient invested 601-947-7511 • 601-766-4052 Fax
equity in the business so it can operate BancorpSouth Bank
on a sound financial basis; Gary W. Martin, Vice President Charter Bank
• There must be a potential for long- One Mississippi Plaza Bob Farve, Executive Vice President
term success; 209 S. Spring St. (38804) 1721 Medical Park Dr., Ste. 103
• The owners must be of good character P.O. Box 789 Biloxi, MS 39532
and reputation; and Tupelo, MS 38802-0789
• All loans must be so sound as to
662-680-2345 • 662-680-2317 Fax
reasonably assure repayment.
For more information, go to
7(a) LOAN PROGRAMS
The 7(a) program is the most flexible
of SBA’s lending programs. The agency
has created several variations to the
basic 7(a) program to address the
particular financing need of certain
small businesses. These special purpose
programs are not necessarily for all
businesses but may be very useful
to some small businesses. They are
generally governed by the same rules,
regulations, fees, interest rates, etc. as
the regular 7(a) loan guaranty. Lenders
can advise you of any variations.
SBA Loan Clinics
SBA provides free Loan Clinics
monthly. The speaker covers the
variety of SBA guaranty loan programs
available ranging from $5,000 to
$5 million. Attendees will also learn of
the approved and participating lenders
in their area that may help them obtain
the capital they need to start or grow
their business. Workshop attendance is
not required to apply for an SBA loan.
Mississippi District Office
Call 601-965-4378 ext. 11 to register for
this free clinic and to confirm the location.
Gulfport Branch Office
Call 228-863-4449 ext. 223 to register for
this free clinic and to confirm the location.
The SBAExpress guaranty is available
to lenders as a way to obtain a guaranty
on smaller loans up to $350,000.
The program authorizes selected,
experienced lenders to use mostly their
own forms, analysis and procedures
to process, service and liquidate SBA-
guaranteed loans. The SBA guarantees
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 19
Community Bank (Gulf Coast) Regions Bank generally 2.25 percent to 4.75 percent
Mike Cooper, Vice President Miguel Alandete, Senior Vice President over prime depending upon the size
2015 E. Pass Rd. 250 Riverchase Pkwy. and maturity of the loan. Your local
Gulfport, MS 39507 Birmingham, AL 35244 SBA district office will have a listing of
228-897-6083 • 228-897-2960 Fax 205-560-3344 • 205-560-3525 Fax Patriot Express lenders in your area.
Community Bank of Mississippi State Bank & Trust Company More information is available at
Ralph Hall, Senior Vice President Beverly Mims, Vice President www.sba.gov/patriotexpress.
1255 W. Government St. 916 Hwy. 82/P.O. Box 8287 Self-employed Reserve or Guard
Brandon, MS 39042 Greenwood, MS 38935-8287 members with an existing SBA loan can
601-706-0130 • 601-825-3940 Fax 662-453-6811 • 662-455-4784 Fax request from their SBA lender or SBA
district office, loan payment deferrals,
Covington County Bank The First, National Association interest rate reductions and other relief
Patricia Speed, Executive Vice President Jeremy A. Felder, Senior Vice President
after they receive their activation orders.
102 S. Dogwood Ave. 110 S. 40th Ave./P.O. Box 15549
Collins, MS 39428 Hattiesburg, MS 39404 The SBA also offers special low-interest-
601-765-6551 • 601-765-0312 Fax 601-450-8888 • 601-579-9213 Fax rate financing of up to $2 million when
an owner or essential employee is called
First Commercial Trustmark Bank to active duty through the Military
John Blanton, Assistant Vice President Patricia McMahon, Vice President Reservist Economic Injury Disaster
1300 Meadowbrook Rd. P.O. Box 291 Loan program (MREIDL) to help cover
Jackson, MS 39211 Jackson, MS39205 operating costs due to the loss of an
601-709-7777 601-208-7391 • 601-208-7394 Fax
essential employee called to active duty.
First Financial Bank 201 Country Place Dr., Ste. A
Chris Stewart, Vice President Pearl, MS 39208 Rural Lender Advantage
510 Hwy 35 S The Small/Rural Lender Advantage
Carthage, MS 39051 (S/RLA) initiative is designed to
601-267-0095 • 601-267-6689 Fax Patriot Express and Other accommodate the unique loan processing
Lending Programs For Veterans needs of small community/rural-based
Hancock Bank The Patriot Express pilot loan lenders by simplifying and streamlining
Thomas N. Collins, Vice President initiative is for veterans and members
loan application process and procedures,
888 Howard Ave. of the military community wanting to
Biloxi, MS 39531 particularly for smaller SBA loans. It
establish or expand a small business.
228-435-5310 • 228-435-5387 Fax Eligible military community members is part of a broader SBA initiative to
include: promote the economic development of
Magnolia State Bank • Veterans; local communities, particularly those
Curt Jones, Vice President • Service-disabled veterans; facing the challenges of population
15 E 6th Avenue • Active-duty servicemembers eligible loss, economic dislocation, and high
Bay Springs, MS 39422 for the military’s Transition Assistance unemployment. Visit www.sba.gov/
601-764-2265 • 601-764-6411 Fax Program; content/rural-business-loans for more
• Reservists and National Guard information.
M&F Bank members;
John Christy, Senior Vice President
• Current spouses of any of the above, Advantage Loans
6543 Goodman Rd.
including any servicemember;
Olive Branch, MS 38654 In early 2011, SBA rolled out two
• The widowed spouse of a servicemember
662-890-1599 Advantage loan initiatives aimed
or veteran who died during service or of
a service-connected disability.
at helping entrepreneurs and small
Merchants & Marine Bank business owners in underserved
Mack Rushing, Vice President The Patriot Express loan is offered
communities gain access to capital.
2802 Bienville Blvd. by SBA’s nationwide network of
Both offer a streamlined loan application
Ocean Springs, MS 39564 private lenders and features the fastest
228-934-1140 process and the regular 7(a) loan
turnaround time for loan approvals. guarantee for loans under $250,000.
Loans are available up to $500,000 and The Small Loan Advantage program
Merchants & Marine Bank
Henry Fox, Senior Vice President qualify for SBA’s maximum guaranty of is available to lenders participating in
3118 Pascagoula St. 85 percent for loans of $150,000 or less the Preferred Lenders Program. SBA
Pascagoula, MS 39567 and 75 percent for loans over $150,000 lenders who are not participating in the
228-934-1258 up to $500,000. For loans above Preferred Lenders Program can contact
$350,000, lenders are required to either their local district office to apply.
Peoples Bank obtain all collateral or enough collateral The Community Advantage pilot
Connie Amason, Loan Assistant
611 5th Ave. S.W. so the value is equal to the loan amount, program opens up 7(a) lending to
Magee, MS 39111 whichever comes first. mission-focused, community-based
601-849-2275 • 601-849-2157 Fax The Patriot Express loan can be used lenders – such as Community
for most business purposes, including Development Financial Institutions
PriorityOne Bank start-up, expansion, equipment (CDFIs), Certified Development
Robbie Barnes, CEO purchases, working capital, and Companies (CDCs), and microlenders
P.O. Box 516 – who provide technical assistance
inventory or business-occupied real-
Magee, MS 39111 and economic development support in
601-849-3311 estate purchases.
Patriot Express loans feature SBA’s underserved markets.
More information on both programs is
lowest interest rates for business loans,
available at www.sba.gov/advantage.
20 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
CAPLines based on the size of a borrower’s the guaranteed portion of other SBA
The CAPLines program is designed accounts receivable and/or inventory. loans outstanding to the borrower. The
Repayment comes from the collection maximum guaranty for any working
to help small businesses meet their of accounts receivable or sale of
short-term and cyclical working capital capital component of an ITL is $4
inventory. The specific structure is
needs. The programs can be used to negotiated with the lender. There may
million. Additionally, any other working
finance seasonal working capital needs; be extra servicing and monitoring of capital SBA loans the borrower has are
finance the direct costs of performing the collateral for which the lender can counted against the $4 million guaranty
certain construction, service and supply charge up to two percent annually to limit.
contracts, subcontracts, or purchase the borrower.
orders; finance the direct cost associated Use of Proceeds
International Trade Loan Program • For the facilities and equipment portion
with commercial and residential of the loan, proceeds may be used to
construction; or provide general working The SBA’s International Trade Loan
acquire, construct, renovate, modernize,
capital lines of credit. SBA provides up (ITL) provides small businesses with improve or expand facilities or
to an 85 percent guarantee. There are enhanced export financing options for equipment in the U.S. to produce goods
four distinct loan programs under the their export transactions. It is designed or services involved in international
CAPLine umbrella: to help small businesses enter and trade.
• The Contract Loan Program is used expand into international markets • Working capital is an allowable use of
to finance the cost associated with and, when adversely affected by import proceeds under the ITL.
contracts, subcontracts, or purchase competition, make the investments • Proceeds may be used for the refinancing
orders. Proceeds can be disbursed necessary to better compete. The ITL of debt structured with unreasonable
before the work begins. If used for one offers a combination of fixed asset, terms and conditions, including any debt
contract or subcontract, it is generally working capital financing and debt that qualifies for refinancing under the
not revolving; if used for more than refinancing with the SBA’s maximum standard SBA 7(a) Loan Program.
one contract or subcontract at a time, guaranty--- 90 percent --- on the total
it can be revolving. The loan maturity loan amount. The maximum loan Loan Term
is usually based on the length of the • Maturities on the working capital
amount is $5 million in total financing. portion of the ITL are typically limited
contract, but no more than ten years.
Contract payments are generally sent to 10 years.
directly to the lender but alternative Guaranty Coverage • Maturities of up to 10 years on
structures are available. The SBA can guaranty up to 90 equipment unless the useful life exceeds
• The Seasonal Line of Credit Program percent of an ITL up to a maximum 10 years.
is used to support buildup of inventory, of $4.5 million, less the amount of
accounts receivable or labor and
materials above normal usage for
seasonal inventory. The business
must have been in business for a
period of 12 months and must have a
definite established seasonal pattern.
The loan may be used over again
after a “clean-up” period of 30 days
to finance activity for a new season.
These also may have a maturity of up
to five years. The business may not
have another seasonal line of credit
outstanding but may have other lines
for non-seasonal working capital needs.
• The Builders Line Program provides
financing for small contractors or
developers to construct or rehabilitate
residential or commercial property.
Loan maturity is generally three
years but can be extended up to
five years, if necessary, to facilitate
sale of the property. Proceeds are
used solely for direct expenses of
acquisition, immediate construction
and/or significant rehabilitation
of the residential or commercial
structures. The purchase of the land
can be included if it does not exceed 20
percent of the loan proceeds. Up to 5
percent of the proceeds can be used for
physical improvements that benefit the
• The Working Capital Line is
a revolving line of credit (up to
$5,000,000) that provides short term
working capital. These lines are
generally used by businesses that
provide credit to their customers.
Disbursements are generally
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 21
• Maturities of up to 25 years are Collateral Requirements Export Express
available for real estate. • Only collateral located in the SBA Export Express offers flexibility
• Loans with a mixed use of fixed-asset U.S. (including its territories and
and working-capital financing will have
and ease of use to both borrowers and
possessions) is acceptable. lenders. It is the simplest export loan
a blended-average maturity. • First lien on property or equipment
product offered by the SBA and allows
financed by the ITL or on other assets
Interest Rates of the business is required. However, participating lenders to use their own
Lenders may charge between 2.25 to an ITL can be secured by a second lien forms, procedures and analyses. The
2.75 percent above the prime rate (as position if the SBA determines there is SBA provides the lender with a response
published in the Wall Street Journal) adequate assurance of loan payment. within 36 hours.
depending upon the maturity of the • Additional collateral, including This loan is subject to the same
loan. Interest rates on loans of $50,000 personal guaranties and those assets loan processing, closing, servicing and
and less can be slightly higher. not financed with ITL proceeds, may liquidation requirements as well as the
be appropriate. same maturity terms, interest rates and
Exporter Eligibility applicable fees as for other SBA loans
• Applicants must meet the same How to Apply
• A small business seeking an ITL must (except as noted below).
eligibility requirements as for the SBA’s
standard 7(a) Loan Program. apply to an SBA-participating lender.
• Applicants must also establish that The lender will submit a completed Guaranty Coverage
the loan will allow the business to Application for Business Loan (SBA The SBA provides lenders with a
expand or develop an export market or, Form 4), including all exhibits, to the 90 percent guaranty on loans up to
demonstrate that the business has been SBA. Visit www.sba.gov to find your $350,000 and a 75 percent guaranty
adversely affected by import competition local SBA district office for a list of on loans more than $350,000 up to the
and that the ITL will allow the business participating lenders. maximum of $500,000.
to improve its competitive position. • A small business exporter wanting to
qualify as adversely impacted from
import competition must submit
Use of Proceeds
Foreign Buyer Eligibility Loan proceeds may be used for
Foreign buyers must be located in supporting documentation that explains
that impact, and a plan with projections business purposes that will enhance a
those countries wherein the Export- company’s export development. Export
that explains how the loan will improve
Import Bank of the U.S. is not Express can take the form of a term
the business’ competitive position.
prohibited from providing financial loan or a revolving line of credit. As
assistance. an example, proceeds can be used to
22 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
fund participation in a foreign trade • Reserves domestic working capital for Interest Rates
show, finance standby letters of credit, the company’s sales within the U.S. The SBA does not establish or
translate product literature for use in • Permits increased global competitiveness
subsidize interest rates on loans. The
foreign markets, finance specific export by allowing the exporter to extend more
liberal sales terms.
interest rate can be fixed or variable and
orders, as well as to finance expansions, is negotiated between the borrower and
equipment purchases, and inventory or • Increases sales prospects in under-
developed markets which have high the participating lender.
real estate acquisitions, etc.
capital costs for importers.
• Low fees and quick processing times. Advance Rates
Ineligible Use of Proceeds • Up to 90 percent on purchase orders.
Proceeds may not be used to finance • Up to 90 percent on documentary letters
overseas operations other than those
• Maximum loan amount is $5,000,000.
strictly associated with the marketing • Up to 90 percent on foreign accounts
• 90 percent of principal and accrued
and/or distribution of products/services receivable.
interest up to 120 days. • Up to 75 percent on eligible foreign
exported from the U.S. • Low guaranty fee of one-quarter of one inventory located within the U.S.
percent of the guaranteed portion for • In all cases, not to exceed the exporter’s
Exporter Eligibility loans with maturities of 12 months or costs.
Any business that has been in less.
operation, although not necessarily in • Loan maturities are generally for 12 Collateral Requirements
exporting, for at least 12 full months and months or less. The export-related inventory and the
can demonstrate that the loan proceeds receivables generated by the export
will support its export activity is eligible Use of Proceeds sales financed with EWCP funds will
for Export Express. • To pay for the manufacturing costs of be considered adequate collateral. The
goods for export. SBA requires the personal guarantee
• To purchase goods or services for export. of owners with 20 percent or more
Foreign Buyer Eligibility
• To support standby letters of credit to ownership.
The exporter’s foreign buyer must be act as bid or performance bonds.
a creditworthy entity and the methods of • To finance foreign accounts receivable.
payment must be acceptable to the SBA
How to apply
Application is made directly to SBA-
and the SBA lender. participating lenders. Businesses are
encouraged to contact SBA staff at their
How to Apply local U.S. Export Assistance Center
Interested businesses should contact
their existing lender to determine if they
are an SBA Express lender. Lenders
that participate in SBA’s Express
program are also able to make Export
Express loans. Application is made
directly to the lender. Lenders use their
own application material in addition
to SBA’s Borrower Information Form.
Lenders’ approved requests are then
submitted with a limited amount of
eligibility information to SBA’s National
Loan Processing Center for review.
Export Working Capital Program
The SBA’s Export Working Capital
Program (EWCP) assists lenders in
meeting the needs of exporters seeking
short-term export working capital.
Exporters can apply for EWCP loans
in advance of finalizing an export sale
or contract. With an approved EWCP
loan in place, exporters have greater
flexibility in negotiating export payment
terms — secure in the assurance that
adequate financing will be in place when
the export order is won.
Benefits of the EWCP
• Financing for suppliers, inventory or
production of export goods.
• Export working capital during long
• Financing for stand-by letters of credit
used as bid or performance bonds or
down payment guarantees.
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 23
(USEAC) to discuss whether they are
eligible for the EWCP and whether it is
the appropriate tool to meet their export
financing needs. Participating lenders
review/approve the application and
submit the request to SBA staff at the
U.S. Export Assistance Center
There are 20 U.S. Export Assistance
Centers located throughout the
U.S. They are staffed by SBA, U.S.
Department of Commerce and Export-
Import Bank of the U.S. personnel,
and provide trade promotion and
export-finance assistance in a single
location. The USEACs also work closely
with other federal, state and local
international trade organizations to
provide assistance to small businesses.
To find your nearest USEAC, visit:
centers. You can find additional export
training and counseling opportunities by
contacting your local SBA office.
U.S. Export Assistance Center
Sandro Murtas, Regional Manager • $5 million for businesses that meet a finances up to 40 percent of the project
New Orleans U.S. Export Assistance Center specific public policy goal, including costs secured with a junior lien. The
423 Canal St., Ste. 419 veterans; and borrower provides the balance of the
New Orleans, LA 70130 • $5.5 million for manufacturers and project costs.
504-756-5353 • 202-481-2966 energy public policy projects. • Fixed interest rate on SBA loan. SBA
email@example.com guarantees the debenture 100 percent.
Recent additions to the program allow
$5.5 million for each project that reduces Debentures are sold in pools monthly
CERTIFIED DEVELOPMENT the borrower’s energy consumption by to private investors. This low, fixed
COMPANY LOAN PROGRAM at least 10 percent; and $5.5 million for rate is then passed on to the borrower
each project that generates renewable and establishes the basis for the loan
(504 LOANS) energy fuels, such as biodiesel or ethanol
All project-related costs can be
The 504 Loan program is an economic production. Projects eligible for up to
financed, including acquisition (land
development program that supports $5.5 million under one of these two and building, land and construction of
American small business growth and requirements do not have to meet the building, renovations, machinery and
helps communities through business job creation or retention requirement, so equipment) and soft costs, such as title
expansion and job creation. This SBA long as the CDC portfolio average is at insurance and appraisals. Some closing
program provides long-term, fixed- least $65,000. costs may be financed.
rate, subordinate mortgage financing • Eligible project costs are limited • Collateral is typically a subordinate
for acquisition and/or renovation of to long-term, fixed assets such as lien on the assets financed; allows
land and building (occupied by the other assets to be free of liens and
capital assets including land, buildings
borrower) and substantial machinery available to secure other needed
and equipment. Some refinancing is and equipment. Working capital is not
also permitted. Most for-profit small financing.
an eligible use of proceeds, except in a • Long-term real estate loans are up to
businesses are eligible for this program. temporary program which is scheduled 20-year term, heavy equipment 10 - or
The types of businesses excluded from to expire on September 27, 2012. 20-year term and are self-amortizing.
7(a) loans (listed previously) are also • Most borrowers are required to make
Businesses that receive 504 loans are:
excluded from the 504 loan program. an injection (borrower contribution)
• Small — net worth under $15 million,
Loans are provided through Certified of just 10 percent which allows
net profit after taxes under $5 million, or
Development Companies. CDCs work the business to conserve valuable
meet other SBA size standards.
with banks and other lenders to make operating capital. A further injection
• Organized for-profit.
loans in first position on reasonable of 5 percent is needed if the business
• Most types of business — retail, service,
terms, helping lenders retain growing is a start-up or new (less than 2
years old), and a further injection of 5 wholesale or manufacturing.
customers and provide Community The SBA’s 504 certified development
percent is also required if the primary
Redevelopment Act credit. companies serve their communities by
collateral will be a single purpose
The SBA 504 loan is distinguished building (such as a hotel). financing business expansion needs.
from the SBA 7(a) loan program in these • Two-tiered project financing: A lender Their professional staffs work directly
ways: finances approximately 50 percent of with borrowers to tailor a financing
The maximum debenture, or long-term the project cost and receives a first package that meets program guidelines
loan, is: lien on the project assets (but no SBA
• $5 million for businesses that create a and the credit capacity of the borrower’s
guaranty); A CDC (backed by a 100
certain number of jobs or improve the percent SBA-guaranteed debenture) business. For information, visit
local economy; www.sba.gov/504.
24 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
Central Mississippi Development alt.Consulting
Company, Inc. Deborah Slayton, Dev. Dir./Fund Mgr.
Larry Anderson, Loan Officer 121 W. 6th Ave.
1170 Lakeland Dr. Pine Bluff, AR 71601
Jackson, MS 39296-4935 870-535-0011 • 801-820-3102 Fax
601-981-1511 or 601-981-1625 Serving: Benton, Bolivar, Carroll, Coahoma,
www.cmpdd.org DeSoto, Hinds, Holmes, Humphreys,
firstname.lastname@example.org Issaquena, LaFayette, LeFlore, Madison,
Marshall, Panola, Quitman, Rankin, Sharkey,
Six Bridges Capital Corporation* Sunflower, Tallahatchie, Tate, Tunica,
Michael Fasulo, Vice President Warren, Washington, Yalobusha and Yazoo.
457 Southwest Dr.
Jonesboro, AR 72401
888-726-9229 or 870-932-8002 SMALL BUSINESS
www.accglending.com/sba_504_loans INVESTMENT COMPANY
* Serves DeSoto, Marshall, Tate and Tunica PROGRAM
counties in Mississippi. There are a variety of alternatives to
bank financing for small businesses. The
Three Rivers Local Development
Company, Inc. Small Business Investment Company
Mitch Montgomery, Loans Division Director (SBIC) program fills the gap between
75 S. Main St. what owners can fund directly and the
Pontotoc, MS 38863 needs of the small business for growth
662-489-2435 capital. Licensed and regulated by the
www.trpdd.com SBA, SBICs are privately owned and
email@example.com managed investment funds that make
capital available to qualifying U.S. small
MICROLOAN PROGRAM businesses. The funds raise private
capital and can receive SBA-guaranteed
The Microloan program provides leverage up to 3x private capital, with
small loans ranging from under $500 a leverage ceiling of $150 million per
to $50,000 to women, low-income, SBIC and $225 million for two or more
minority, veteran, and other small licenses under common control. Licensed
business owners through a network SBICs are for-profit investment firms
of approximately 160 intermediaries whose incentive is to share in the
nationwide. Under this program, the success of a small business. The SBIC
SBA makes funds available to nonprofit program provides funding for a broad
intermediaries that, in turn, make the range of industries. Some SBICs invest
small loans directly to entrepreneurs, in a particular field or industry while
including veterans. Proceeds can be others invest more generally. For more
used for typical business purposes such information, visit www.sba.gov/inv.
as working capital, or the purchase of Sun-Delta Capital Access Center, Inc.
furniture, fixtures, machinery, supplies, Josie Taylor, Assistant CEO
equipment, and inventory. Microloans 819 Main St.
may not be used for the purchase of real Greenville, MS 38702
estate. Interest rates are negotiated 662-335-5291 • 662-335-5295 Fax
between the borrower and the
intermediary. The maximum term for a
microloan is 7 years.
The program also provides business- INNOVATION RESEARCH
based training and technical assistance
to microborrowers and potential
microborrowers to help them be The Small Business Innovation
successful at starting or growing their Research (SBIR) program encourages
businesses. Such training and technical small businesses to advance their
assistance may include general business technical potential from funds
education, assistance with business committed by federal agencies with large
planning industry-specific training, extramural research and development
and other types of training support. budgets. The SBIR program serves
Entrepreneurs and small business to fund the critical startup and
owners interested in small amounts development stages for a technology and
of business financing should contact encourages commercialization of the
the nearest SBA District Office for technology, product or service. In turn,
information about the nearest Microloan this stimulates the U.S. economy.
Program Intermediary Lender or go to
Small businesses must meet the
following eligibility criteria to participate
in the SBIR program.
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 25
• Be 51 percent owned and controlled by • Be 51 percent owned and controlled by Central MS Procurement Center (CMPC)
one or more individuals who are U.S. one or more individuals who are U.S. Jonithan Hatcher, Director
citizens or permanent resident aliens citizens or permanent resident aliens c/o Mississippi Development Authority
in the U.S. or be a for-profit business in the U.S. P.O. Box 849, Woolfolk Bldg., 6th Fl.
concern that is at least 51 percent • Be for-profit. Jackson, MS 39201
owned and controlled by another
for-profit business concern that is at • Principal researcher need not be 601-359-3485
least 51 percent owned and controlled employed by the small business. firstname.lastname@example.org
by one or more individuals who are • Company size cannot exceed 500 Counties served: Adams, Claiborne, Copiah,
citizens of, or permanent resident employees. (No size limit for nonprofit Franklin, Hines, Jefferson, Jefferson Davis,
aliens in, the U.S. research institution). Lawrence, Lincoln, Madison, Rankin,
• Be for-profit. The nonprofit research institution Simpson and Warren.
• Principal researcher must be employed
by the small business. partner must also meet certain
eligibility criteria: Delta Contract Procurement Center
• Company size cannot exceed 500 (DCPC)
employees. • Be located in the United States
Elizabeth Woodyard, Director
For more information on the SBIR and be one of the following:
342 Washington Ave., 2nd Fl.
program visit www.sba.gov/sbir. • Nonprofit college or university.
Greenville, MS 38702
• Domestic nonprofit research
Participating Agencies organization. Counties served: Bolivar, Carroll, Coahoma,
• Federally funded R&D center.
Each year, the following eleven DeSoto, Grenada, Holmes, Humphreys,
federal departments and agencies are Issaquena, LeFlore, Panola, Quitman,
required to reserve 2.5 percent of their Participating Agencies Sharkey, Sunflower, Tallahatchie, Tate,
Each year the following five Federal Tunica, Washington, Yalobusha and Yazoo.
extramural R&D funds for award to
departments and agencies are required
small businesses through the SBIR
by STTR to reserve 0.3 percent of their Northeast MS Contract Procurement
program: Departments of Agriculture;
Commerce; Defense; Education; Energy; extramural R&D funds for award to Center (NMCPC)
small business/nonprofit research Bill Burge, Director
Health and Human Services; Homeland 318 7th St. N.
institution partnerships: Department
Security; Transportation; Environmental Columbus, MS 39703
of Defense; Department of Energy;
Protection Agency; National Aeronautics 662-329-1077
Department of Health and Human
and Space Administration; and National email@example.com
Services; National Aeronautics and
Science Foundation. Counties served: Alcorn, Attala, Benton,
Space Administration; and National
Calhoun, Chickasaw, Choctaw, Clay,
SMALL BUSINESS Itawamba, Lafayette, Lee, Lowndes, Marshall,
Monroe, Montgomery, Noxubee, Oktibbeha,
TECHNOLOGY TRANSFER Mississippi Contract Procurement Pontotoc, Prentiss, Tippah, Tishomingo,
PROGRAM Center (MCPC)
Union, Webster and Winston.
The Small Business Technology This Procurement Technical NMCPC – Tupelo Satellite Office
Transfer (STTR) program reserves Assistance Center (PTAC) is designed (Wednesdays only)
a specific percentage of federal R&D Bill Burge, Director
to assist Mississippi businesses in
funding for award to small business and c/o Renaissance Center for IDEA’s
successfully competing for government 298 E. Main St.
non-profit research institution partners. contracts (federal, state, and local). The
Central to the program is expansion of Tupelo, MS 38804-4026
network is comprised of five regional 662-329-1077
the public/private sector partnership to offices (listed below) located throughout
include the joint venture opportunities firstname.lastname@example.org
the state for easy access by businesses.
for small business and the nation’s It provides such assistance in the form
premier nonprofit research institutions. South MS Contract Procurement Center
of “bid notices” to clients registered in (SMCPC)
Small business has long been where our database. Clients are provided “bid Marcia McDowell, Director
innovation and innovators thrive, but
notices” on current bid opportunities. 1636 Popps Ferry Rd., Ste. 203
the risk and expense of conducting
In addition, assistance with price Biloxi, MS 39532
serious R&D efforts can be beyond 228-396-1288
histories, MILSPECS, marketing, etc
the means of many small businesses. email@example.com
– all of which allow for the preparation
Non-profit research laboratories Counties served: Amite, Forrest, George,
are also instrumental in developing of a more competitive bid from a well-
informed bidder. Greene, Hancock, Harrison, Jackson, Lamar,
high-tech innovations, but frequently Marion, Pearl River, Perry, Pike, Stone,
innovation is confined to the theoretical. Counseling is also offered to assist a
Walthall and Wilkinson.
STTR combines the strengths of both business in understanding a solicitation,
which, in turn, will help with bid
entities by introducing entrepreneurial
skills to high-tech research efforts. preparation.
The technologies and products are Seminars, workshops, trade shows,
transferred from the laboratory to the and networking opportunities are
marketplace. The small business profits conducted regularly in conjunction with
other local resource partners such as the GSA Schedule
from the commercialization, which, in GSA’s Federal Supply Schedules, also
turn, stimulates the U.S. economy. SBA, SBDC, chambers, etc.
Our services are restricted to known as Multiple Award Schedules
Mississippi businesses only and are (MAS), are contracts that allow federal
STTR Requirements customers to acquire more than 4
Small businesses must meet the offered at no charge.
million services and products directly
following eligibility criteria to participate from more than 8,600 commercial
in the STTR program. suppliers. GSA Schedules cover a
26 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
SURETY BOND Program (Plan B). In the Prior Approval
Program, SBA guarantees 90 percent
GUARANTEE PROGRAM of surety’s paid losses and expenses on
The Surety Bond Guarantee program bonded contracts up to $100,000, and on
is a public-private partnership between bonded contracts greater than $100,000
the federal government and surety that are awarded to socially and
companies to provide small businesses economically disadvantaged concerns,
with the bonding assistance necessary HUBZone contractors, and veterans, and
for them to compete for public and service-disabled veteran owned small
private contracting and subcontracting businesses. All other bonds guaranteed
opportunities. The guarantee provides in the Plan A Program receive an 80
all incentive for sureties to bond small percent guarantee. Sureties must obtain
businesses that would otherwise be SBA’s prior approval for each bond
unable to obtain bonding. The program guarantee issued. Under Plan B, SBA
is aimed at small businesses that lack guarantees 70 percent, but sureties may
the working capital or performance issue, monitor and service bonds without
track record necessary to secure bonding SBA’s prior approval.
on a reasonable basis through regular
commercial channels. PREFERRED AND PARTICIPATING SURETY
Through this program, the SBA BOND COMPANIES:
You will find a List of preferred Surety Bond
guarantees bid, payment, performance Companies online at
vast array of commercial items - from
and ancillary bonds issued by surety www.sba.gov/content/preferred-surety-
office supplies and copier paper to
companies for individual contracts and bond-companies.
systems furniture, from computers
subcontracts up to $2 million. The A list of participating Surety Bond
to laboratory equipment and services
SBA reimburses sureties between 70 Companies is available at
ranging from accounting to graphic
and 90 percent of losses sustained if a www.sba.gov/content/list-participating-
design to landscaping. The Southeast
contractor defaults on the contract. surety-companies-agents.
Sunbelt Region serves customers in the
The SBA has two program options
states of Alabama, Florida, Georgia,
available, the Prior Approval Program
Kentucky, Mississippi, North Carolina,
(Plan A) and the Preferred Surety Bond
South Carolina, and Tennessee
providing work environments, supplies,
telecommunications and transportation
services to Federal agencies.
This region facilitates the purchase
of commercial products and services
by other Federal agencies through
GSA Schedules and IT contracts;
manages a portfolio of Federal facilities
including Federal Office Buildings
and Courthouses and coordinates the
disposal of Federal real property in
the states of the Southeast Region and
Delaware, Pennsylvania, West Virginia,
and the parts of Maryland and Virginia
not served by the National Capital
Region. Small and minority businesses
that wish to transact commerce with
the Federal Government can receive
assistance through this office.
General Services Administration (GSA)
77 Forsyth St., Ste. 600
Atlanta, GA 30303
Mississippi Department of Transportation
401 N. West St.
Jackson, MS 39201
Mississippi Department of Finance &
501 N. West St., Ste. 1301, Woolfolk Bldg.
Jackson, MS 39201
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 27
TIPS FOR INTERACTING WITH YOUR CUSTOMERS
SOCIAL MEDIA b. Next, make sure your target audience
is on Twitter, Facebook or whatever
AN ESSENTIAL PART OF YOUR social network you are considering,
MARKETING TOOLKIT or you may spend a lot of time on a
channel that won’t reach your target.
You can do this in several ways:
Social media marketing is a great tool • Survey your customers.
for engaging with customers, building • Assess what your competition is
your company’s brand, and increasing doing.
your business reach. However, many • Get involved with social networks
small business owners make the on a personal level by exploring
mistake of using social media tools communities and Facebook fan
such as Twitter and Facebook for
• Research trends in Twitter topics c. Don’t be afraid to Tweet often.
simply pushing their messages out. and try to build a picture of what Anywhere between 5-10 Tweets
They miss a key communications and your target market is doing and a day is your target. Also
marketing opportunity by not listening sharing on social networks. remember to shake your
to or joining in the conversations that message up. As every good
are going on. In other words, they c. And don’t forget that while these tools marketer knows, tone and style
ignore the fundamental point of social are free, your investment in them isn’t. are a huge factor in ensuring
media - being SOCIAL! It takes staff time and resources to use that your message stands
social media successfully. out, resonates, and promotes
Just being on Twitter or Facebook is action. Tweeting is like
not enough. It takes time and effort to 2. Use Twitter to Engage and conversation, putting out static
Entice updates or statements will fall
build a strong social media presence.
on flat ears, but engaging,
When it comes to growing your social teasing, querying, and showing
media presence and seeing a return on a. Instead of simply Tweeting for
Tweeting’s sake, focus on interest will promote action. So
your investment it is easier said than shake your message up, use the
making your Twitter strategy
done. a rich and interactive words your audience uses,
experience. For example, use sprinkle in some hashtags and
Here are three hands-on tactics Tweets to start discussions go on and tease a little.
that you can use. on your products, special offers
and events. Engage with So, instead of saying:
1. Determine Where Your followers by responding to
Customers are Online and mentions about your business; • We’re giving away 2 bagels
How you Can Reach Them addressing their questions and for the price of one at
inviting them to check out your BagelFest on Nov 25, 4-8
a. When considering social media as part website and so on. PM <LINK>
of your overall marketing strategy,
always start with asking the most b. You can track mentions of
your company or products
• What is it you want to achieve? in other Tweets using a
Twitter application such as • We know you love them! Get
• Where is your audience and will they
Tweetdeck or Hootsuite. 2 bagels for the price of one
on 11/25. Find out where
3. Use Facebook to its Fullest
As with Twitter, Facebook is a great
way for engaging with people who
like your brand, want to interact
with your business, stay abreast of
latest developments, and take advantage
of giveaways, contests, surveys, etc.
It is also invaluable for brand exposure.
While having a Facebook presence doesn’t
guarantee a huge uptick in visitors
to your website, using it strategically to
link back to online blogs, menus, event or
newsletter registration landing pages and
special offers, can improve site traffic.
28 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
U.S. Small Business Administration Loan Programs, Page A
Information accurate as of 2/23/2012 • All SBA programs and services are provided on a nondiscriminatory basis.
7(a) Loan Program
Program Maximum Use of Maturity Maximum Structure Who Qualifies Benefit to
Amount Proceeds Interest Rate Borrowers
Standard 7(a): $5 million to any Expansion/renovation; Depends on use of SBA sets a Must be for-profit
Term loan with one Business able to
Applicant applies one business, new construction, proceeds and ability maximum rate and meet SBA size
payment of principal obtain financing which
for business loan including affiliates purchase land or to repay. Generally for both variable standards; show
and interest (P&I) otherwise would not be
to lender; Lender buildings; purchase working capital and and fixed rates good character,
each month. Interest provided due to term,
applies to SBA equipment, fixtures, machinery & loans (discuss variable or fixedcredit, management, collateral, equity, and/or
for guaranty of lease-hold improve- equipment loans with lender or and ability to repay;
as negotiated with time in business. Fixed
their proposed ments; working capital; have 5-10 years; must be an eligible maturity; No balloons;
local SBA District lender. Cannot betype of business, No prepayment penalty
loan if they inventory, business real estate is up Office for current revolving. SBA use proceeds for if maturity under 15
determine it is acquisition, startups to 25 years. Term information). charges a Guaranty
eligible purpose, and years. Establish or
necessary. Loan and refinancing under negotiated with Fee ** demonstrate that re-affirm business
from lender, not certain conditions lender. credit is not otherwise relationship with a
SBA. (discuss with lender). available. lender.
International Same as Acquire, renovate, Same as Same as Same as Standard Same as Standard Same as Standard
Trade: Long term Standard 7(a). modernize facilities Standard 7(a). Standard 7(a). 7(a). Maximum SBA 7(a) plus businesses 7(a) plus long-term
financing to help or equipment used in guaranty amount for must be engaged or financing for fixed
businesses making products or working capital is $4 preparing to engage assets used
engaged in services to be exported, million. in international to produce products
exporting or plus permanent working trade or adversely or services for export.
adversely capital and refinance affected by
impacted by debt not structured with competition from
imports. reasonable terms. imports.
Export Working Same as Short-term, Generally one year, Established Short term revolving Same as Standard Same as Standard
Capital Program: Standard 7(a). working-capital for but can be up to by lender. No line of credit based 7(a) plus must 7(a) plus provides
Single transaction exporters. Can be 3 years to match SBA established on borrowing have been in working capital to
base or export American Exporters
or Revolving single transaction or a single transaction maximums. business for at to perform on export
Working Capital revolving. Standby cycle. purchase orders. least one year and
Monthly interest transactions and/
lines of credit for Letters of Credit for payments; principal preparing to engage or finance export
exporters. export purposes. payments based on in or increase receivables. Ability
collection of foreign international trade. to financing standby
letters of credit for
receivables. export purposes.
CAPLines: Same as Finances: seasonal Up to 10 years. Same as Revolving line of Same as Standard Same as Standard 7(a)
Four different Standard 7(a). working capital needs, Standard 7(a). credit with monthly 7(a) plus a plus provides revolving
Revolving Lines direct cost to interest and business that needs working capital not
of Credit, perform assignable principal payments the specialized to perform on an
a/k/a Seasonal, contracts, construction based on when the proceeds this assignable contract, to
Contract Builders, costs of structure for business receives program offers. cover seasonal needs,
Working Capital resale, or advances the cash for doing to build or renovate
against existing the activity the loan personal or commercial
inventory and proceeds financed. space, and to obtain
funds against existing
receivables. current assets. Also
structured to meet
SBAExpress: $350,000. Same as a Standard Same as Standard Loans $50,000 Same as Standard Same as Same as Standard
Lender approves 7(a) or may be used 7(a) for term loans, or less: 7(a) except lender Standard 7(a). 7(a) plus Streamlined
Prime + 6.5%. process; Easy-to-use
the loan. for a revolving working Revolving lines of has more leeway to line of credit and allows
capital line of credit. credit up to 7 years. Loans over structure repayment for a revolving feature
$50,000: under their own which Standard 7(a)
Prime + 4.5%. rules. does not.
Small Loan $250,000. Same as Same as Loans up to Same as Underserved Stream-lined application
Advantage: Standard 7(a). Standard 7(a). $150,000: 85% Standard 7(a). markets.
lower-dollar Loans above
loans to under- $150,000: 75%
Rural Loan $350,000. Same as Same as Loans up to Same as Rural and small Stream-lined application
Advantage: Standard 7(a). Standard 7(a). $150,000: 85% Standard 7(a). community markets
Rural-based or Loans above impacted by
small community $150,000: 75% population loss,
lender high unemployment
** The SBA charges the lender a guaranty fee based on the loan’s maturity and the dollar amount which is initially guaranteed.
The lender can pass this expense to the borrower and loan proceeds can be used to reimburse the lender.
The 7(a) Guaranty Fee Reference Chart (on next page) explains the Agency’s guaranty fee charges.
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 29
U.S. Small Business Administration Loan Programs, Page B Information accurate as of 2/23/2012
7(a) Loans, continued
Maximum Use of Maximum Benefit to
Program Amount Proceeds Maturity Interest Rate Structure Who Qualifies Borrowers
Export Express: $500,000. Same as SBA Express Same as Same as Same as Same as SBA Same as SBA
Lender approves plus can be used SBA Express. SBA Express. SBA Express. express plus loan Express plus provides
the loan. for Standby Letters proceeds must be lenders with a higher
of Credit for Export used to support percentage guaranty
Purposes. Debt export development which can encourage
Refinance is not activity. them to make more
allowed. loans to finance export
of small businesses.
of Credit are also
Patriot Express: $500,000. Same as Same as Same as Same as Same as Standard Same as SBA
Lender approves Standard 7(a). Standard 7(a). Standard 7(a). SBA Express. 7(a) plus must be Express plus provides
the loan. owned & controlled lenders with a higher
by one or more of percentage of guaranty
the following groups which can encourage
equaling at least them to make more
51% total ownership: loans to qualified
veteran, active-duty businesses.
or National Guard
member or spouse of
any of these groups,
or widowed spouse
of service member
or veteran who died
during service or of
Community $250,000. Same as Standard 7(a) Same as Same as Allows mission- Loan eligibility Borrowers in
Advantage: except cannot be used Standard 7(a). Standard 7(a) oriented lenders requirements are underserved markets
Alternative to refinance loans except allowable focused on same as for get more choices on
Lenders assisting made by or guaranteed “Spread” is + 4% economic Standard 7(a) loans, the types of lenders
businesses by the Dept. of over the base development but the business who can provide
located in areas Agriculture or loans rate. in underserved should be located them financing if their
with high needs. by SBA Micro-Lenders markets to apply for in an underserved financing needs an
using their SBA 7(a) guaranty on market . SBA guaranty and the
intermediary loan. loan they propose to technical assistance
make to an eligible needs of the applicant
small business. are assessed by the
Non 7(a) Loans
504 Loans: SBA portion up to For the acquisition of Either 10 or 20 year Check with local Financing from For profit businesses Fees under 3 percent;
Fixed Asset $5.0 million. long-term fixed-assets, term on the SBA/ SBA District 1. The CDC that do not exceed long-term fixed rate;
Project Financing refinancing long term CDC portion. Office for current Certified $15.0 million in low down payment;
provided from fixed asset debt under information. Development tangible net worth full amortization; no
three sources. certain conditions, and Company and do not have an balloons.
working capital on a 2. Third Party average net income
limited basis. Lenders over $5 million for the
3. Applicant past 2 years.
Micro-Loans $50,000 total Furniture, fixtures, Shortest term Check with local Loans through Same as 7(a) – plus Direct loans from
to one small supplies, inventory, possible, not to SBA District Office non- profit lending loans can be made nonprofit intermediary
business equipment, and exceed 6 years. for locations of organizations; to non-profit day lenders; Fixed-rate
borrower. working capital. locally available technical assistance care businesses. financing; Very
intermediary also provided. small loan amounts;
lenders and then Technical assistance
check with them. available.
Gross Size of Loan Fees Notes
7(a) Guaranty Loans of $150,000 or less (See Note 1)........................ ........2% of guaranteed portion, Lender is authorized to retain..............Maturities that exceed 12 months
$150,001 to $700,000 ...................................................... ......3% of guaranteed portion.................................................................Maturities that exceed 12 months
Fee Reference $700,001 to $5,000,000 (See Note 2) ............................ ......3.5% of guaranteed portion up to $1,000,000 PLUS 3.75% of.....Maturities that exceed 12 months
Chart the guaranteed portion over $1,000,000
Short Term Loans – up to $5 million ......................................0.25% of the guaranteed portion .....................................................Maturities of 12 months or less
NOTE 1: The guaranty fee on a $100,000 loan with an 85% guaranty would be 2% of $85,000 or $1,700, of which the lender would retain $425.
NOTE 2: The guaranty fee on a $2,000,000 loan with a 75% guaranty ($1.5 million guaranteed portion) would be, 3.5% of $1,000,000 ($35,000) PLUS 3.75% of $500,000 ($18,750), for a total of $53,750.
30 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
Building on SBA’s Record Year
The SBA actively supports the wide diversity of small on women entrepreneurs, the faith-based community,
businesses that are driving our economy forward in 2012, and veterans. The SBA’s Council on Underserved
from Main Street shops, to high-growth startups, and Communities held its first meeting last summer, and the
everything in between. No matter what your business, council is already developing ideas for how the SBA can
you can get help from the SBA. Whether you are a small expand its reach into these communities.
business owner who has worked with us before or an
entrepreneur who knows nothing about what the agency The Small Business Jobs Act created an independent
has to offer, there’s never been a better time to link up Office of International Trade (OIT) within the SBA
with your local SBA. to support small business exporting. OIT set to work
implementing the State Trade and Export Promotion
Like the tools in this Resource Guide, the SBA’s (STEP) grants – also part of the Small Business Jobs
accomplishments in 2011 reflect the diversity of the small Act – that gave state-based export promotion programs
businesses we serve. $30 million to support small business exporting. For
example, in Idaho, the grants will support a program to
For example, in Fiscal Year 2011, the SBA put a record help a cluster of agricultural equipment manufacturers
amount of SBA loan dollars in the hands of small business find international buyers. In Virginia, the money will go
owners. The agency provided over $30 billion in lending to help advanced manufacturers and IT companies enter
support to over 60,000 small businesses through its top the global supply chain. Meanwhile, North Carolina is
two lending programs – 7(a) and 504. Now, SBA lending using the grant money to connect firms with trade shows,
is back to where it was before the recession. That’s good trade missions, and overseas marketing opportunities and
news for small businesses that need access to capital to to provide translation services for small businesses that
grow and hire new workers. need a website in a different language. Exporting is an
important way for small businesses to expand, and the
For high-growth small businesses looking for investment SBA can help. Look for resources in this guide to learn
capital, the Small Business Investment Company (SBIC) more about how you can sell your product overseas.
program had a record year, as well. SBICs are privately
owned and managed investment funds that use their Finally, the SBA also aids business owners, homeowners
own capital, plus funds borrowed with an SBA guarantee, and other victims of natural disasters. The SBA offers long
to invest in small businesses. The SBA does not invest term, low interest loans to help disaster victims rebuild.
directly into small businesses, but it provides funding to Last year, the Office of Disaster Assistance supported
investment management firms with expertise in certain victims of countless disasters, including Hurricane Irene.
sectors or industries. “In Fiscal Year 2011, the SBA issued The SBA approved over 13,000 disaster loans worth nearly
a record $1.83 billion in new commitments to SBICs. $740 million. Of course, no small business owner wants
SBICs provided $2.83 billion in financing dollars to over to be caught unprepared when disaster strikes. The SBA
1,300 small businesses, helping create or retain over 60,000 can help you get your business ready for whatever comes
jobs —all at zero cost to taxpayers.” your way.
At the same time, more small businesses are competing As you can see from this article and the rest of this guide,
for and winning government contracts. Last year, the SBA has a wide variety of tools no matter what your
the SBA’s most recent “Score Card” showed that the business needs. In the following pages, you can read
federal government awarded 22.7% of contracts to small about how the SBA can help businesses through access
businesses in 2010. This is the second year of increase to capital, opportunities in government contracting,
after four years of decline. While this is good news, counseling, and more. You can also find contact
the SBA will not rest until the government meets its information, where trained professionals can walk you
goal of awarding 23% of contracts to small businesses. through getting a loan, competing for contracts, or finding
Government contracts are the oxygen that many small a business counselor.
businesses need to survive, and the SBA is committed to
helping more small businesses win more contracts in 2012. If you don’t find what you’re looking for here, there is
even more information on the agency’s newly redesigned
The SBA worked hard last year to put more tools in the website, www.SBA.gov. While you’re there, check out
hands of entrepreneurs in underserved markets. For SBA Direct, which presents a customized list of resources
example, the Young Entrepreneurs Series visited five cities in your area based on information you enter about your
where young people are starting businesses and creating business.
the jobs of the future. The SBA also held forums focused
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 31
Applying for Government Contracts
The U.S. government is the largest The first method, sealed bidding, Some contracts do not fit neatly
single purchaser of goods and services involves issuing an invitation for bid by into these two categories, such as
in the world, buying everything from a procuring agency. Under the sealed time and material contracts (prices for
armored tanks to paper clips. Every bidding method, a contract is awarded to hourly wages are fixed but the hours
year, the federal government awards a responsible bidder who bid, conforming are estimated) and letter contracts
more than $500 billion in contracts, and to the invitation for bids, will be most (authorizes a contractor to begin work
a significant share of those contracts are advantageous to the Government, on an urgent requirement).
specifically allotted to small businesses. considering only price and the price
The Small Business Administration related factors included in the invitation Small Business Set-Asides
works with agencies to award at least for bid. The second method, negotiation, A “set-aside” for small businesses
23 percent of all prime government involves issuing a request for proposal reserves an acquisition exclusively for
contracts to small businesses, with (RFP) or request for quotation (RFQ). small business participation. There
specific statutory goals for small The business with the best proposal in are two ways in which set-asides can
terms of technical content, best value, be determined. First, if an acquisition
disadvantaged businesses (SDV),
price and other factors generally wins of goods or services has an anticipated
businesses that are women-owned
the contract. dollar value of at least $3,000 but not
(WO) or service-disabled veteran-owned
exceeding $150,000, it is automatically
(SDVOSB), or businesses that are reserved for small businesses. The
located in historically underutilized Types of Contracts
Firm fixed price contracts place the acquisition will be set aside only if the
business zones (HUBZone). contracting officer determines there
The agency ensures that small full responsibility for the costs and risk
of loss on the contractor. Firm fixed price are two or more responsible small
businesses have access to long-lasting businesses that are competitive in
development opportunities, which contracts do not permit any adjustment
on the basis of the contractor’s costs terms of market prices, quality and
means working with small businesses delivery. Second, if an acquisition of
to help them stay competitive, as during the performance of the contract.
It provides maximum incentive for the goods or services is more than $150,000,
well as encouraging federal agencies and if it’s likely offers will be obtained
to award more contracts to small contractor to control costs and perform
effectively and imposes a minimum from at least two responsible small
businesses. The SBA features outreach businesses, and if awards will be made
administrative burden upon the
programs, matchmaking events, and at fair market prices, the acquisition
contracting parties. This type of contract
online training opportunities; and helps is reserved for exclusively for small
is used in all sealed bid and some
agencies identify opportunities for small business. Reasonable expectations of
businesses. Cost reimbursement contracts provide small business competition may be
for the payment of allowable costs evaluated using past acquisition history
HOW GOVERNMENT incurred by the contractor, to the extent of an item or similar items.
There are several exceptions and
stated in the contract. The contract
establishes a ceiling price, above which unique rules for specific kinds of small
businesses and industries. For Research
Sealed bidding vs. Negotiation a contractor may not exceed without the
and Development (R&D) small business
There are two methods the approval of the contracting officer. Cost
reimbursement contracts are used in set-asides, there must be reasonable
government uses to purchase goods and expectation of obtaining from small
services, sealed bidding and negotiation. research and development contracts.
businesses the best scientific and
32 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
technological sources consistent with the HUBZone program also establishes • It must be a small business by SBA
demands of the proposed acquisition. preference for award of federal contracts size standards;
For small business set-asides other to small businesses in these areas. To • It must be owned (at least 51 percent)
than for construction services, any qualify for the program, a business by one or more individuals who
business proposing to furnish a product (except those that are tribally-owned) qualify as socially and economically
that it did not manufacture must must meet the following criteria: disadvantaged, and who are US
furnish the product of a small business • It must be a small business by SBA size citizens of good character;
manufacturer unless the SBA has standards • It must be controlled, managed, and
granted either a waiver or exception to • It must be owned and controlled at operated by one or more individuals
this requirement. In industries where least 51 percent by U.S. citizens, or a who qualify as disadvantaged, and;
the SBA finds that there are no small Community Development Corporation • It must demonstrate potential for
success (generally by being in business
business manufacturers, it may issue (CDC), an agricultural cooperative, or an
Indian tribe for at least two full years) before
a waiver to the non-manufacturer rule.
• Its principal office must be located applying.
Waivers permit small businesses to
provide any domestic firm’s product. within a “Historically Underutilized Socially disadvantaged individuals
Business Zone,” which includes lands are those who have been subjected to
Subcontracting considered “Indian Country” and racial or ethnic prejudice or cultural
Subcontracting opportunities are military facilities closed by the Base bias because of their identity as a
a great resource for small businesses, Realignment and Closure Act member of a group without regard
especially to those not ready to bid as • At least 35 percent of its employees to their individual capabilities. The
prime contractors. Experience gained must reside in a HUBZone. following individuals are presumed
from subcontracting with a federal Existing businesses that choose to to be socially disadvantaged: Black
prime contractor can better prepare move to qualified areas are eligible Americans, Native Americans, Alaska
businesses to bid for prime contracts. to apply for certification. To fulfill Natives or Native Hawaiians, Hispanic
Current regulations stipulate for the requirement that 35 percent of a Americans, Asian Pacific Americans,
contracts offering subcontracting and Subcontinent Asian Americans. An
HUBZone firm’s employees reside in
opportunities over $650,000 for goods individual who is not a member of one of
a HUBZone, employees must live in a these groups must establish individual
and services, or $1.5 million for primary residence at a place for at least
construction, large business prime social disadvantage by a preponderance
180 days, or as a currently registered of evidence. Economically disadvantaged
contractors must offer maximum
voter, and with intent to live there individuals are socially disadvantaged
practicable subcontracting opportunities
to small businesses. Large business indefinitely. individuals whose ability to compete
prime contractors must submit a SBA is responsible for: in the free-enterprise system has been
subcontracting plan describing how they • Determining whether or not individual impaired due to diminished capital
will successfully subcontract to small concerns are qualified HUBZone small and credit opportunities as compared
business concerns; to others in the same or similar
• Maintaining a list of qualified HUBZone line of business who are not socially
To find subcontracting opportunities,
small business concerns for use by disadvantaged.
a list of Federal prime solicitations are acquisition agencies in awarding
listed under the U.S. Small Business Firms owned by Alaska Native
contracts under the program; Corporations, Indian Tribes, Native
Administration Subcontracting Network • Adjudicating protests and appeals of
(SUBNET) http://web.sba.gov/subnet/ Hawaiian Organizations, and
eligibility to receive HUBZone contracts.
Community Development Corporations
search/index.cfm and www.gsa.gov/ For additional information, visit can also apply to the SBA for 8(a)
portal/content/101195 General Services www.sba.gov/hubzone. business development assistance.
Administration (GSA). Research the So that approved firms can obtain
list of prime contractors and determine
which are best suited for your business. 8(a) BUSINESS DEVELOPMENT training, counseling, and business
development assistance, SBA designates
Develop a marketing strategy, and then PROGRAM a staff person at a local SBA District
contact the Small Business Liaison Office, geographically near the business.
The 8(a) Business Development
Officer (SBLO) listed for each prime to SBA is responsible for:
program is a nine year program
schedule an appointment. • Determining whether a business
established to assist eligible socially and
economically disadvantaged individuals qualifies for the 8(a) Business
SBA CONTRACTING develop and grow their businesses. Development program
PROGRAMS Business development assistance
includes one-to-one counseling, training
• Determining whether a business
continues to qualify, during the nine-
HUBZONE workshops, and other management and year term.
• Approving Mentor/Protégé agreements
The Historically Underutilized technical guidance. There is a statutory
between 8(a) firms and large businesses.
Business Zones (HUBZone) program requirement that small disadvantaged
business concerns be awarded not less For additional information, visit
helps small businesses located in
distressed urban and rural communities, than 5 percent of the total value of all www.sba.gov/8a.
gain access to federal set-aside contracts prime contract awards. All firms that
and sole source contracts, as well as a become eligible for SBA’s 8(a) business SMALL DISADVANTAGED
price evaluation preference in full and
open contract competitions. There is a
development assistance are also
considered small disadvantaged business
statutory requirement that HUBZone concerns for federal contracting. A Small Disadvantaged Business
small business concerns be awarded not To be eligible for the 8(a) Business (SDB) is defined as a small business
less than 3 percent of the total value Development program, a business must that is at least 51 percent owned and
of all prime contract awards. The meet the following criteria: controlled by one or more individuals
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 33
who are socially and economically contracting officers to set aside certain information, visit www.sba.gov/wosb.
disadvantaged. federal contracts for eligible women- Large prime contractors must also
There is a federal government-wide owned businesses and economically establish a subcontracting goal for
goal of awarding at least 5 percent of disadvantaged women-owned small Woman-Owned Small Businesses in
prime contracting dollars to SDBs each businesses. their Subcontracting Plans. These
year. Large prime contractors must also To be eligible, a firm must be at least subcontracting goals are reviewed at
establish a subcontracting goal for SDBs 51 percent owned or controlled by one time of proposal by both the contracting
in their Subcontracting Plans. or more women. The women must be officer and SBA prior to the award of a
Firms self-certify as SDB without U.S. citizens. The firm must be “small” contract.
submitting any application to SBA; in its primary industry in accordance
however, firms approved by SBA into with SBA’s size standards for that
the 8(a) Business Development program
industry. To be deemed “economically
are automatically certified as an SDB.
disadvantaged” its owners must
To self-certify, firms should update their
CCR profiles and update their ORCA demonstrate economic disadvantage in
profiles, making sure that both profiles accordance with the requirements set
reflect their SDB status. forth in the final rule. For additional
OWNED SMALL BUSINESS WHAT YOU SHOULD KNOW ABOUT
The Service-Disabled Veteran-
Owned Small Business (SDVOSB) YOUR BUSINESS
program has a federal government-wide
goal of awarding at least 3 percent To be eligible to bid on a federal 3. Do you fall under a specific
of prime and subcontracting dollars contract, you must know your certification?
to Service-Disabled Veteran-Owned business. Answer the following three Under the umbrella of “small
Small Businesses each year. Large questions: business,” SBA has outlined several
prime contractors must also establish a specific certifications that businesses
subcontracting goal for Veteran- 1. Are you a small business? may fall under. These certifications are
Owned Small Businesses in their Is your small business: divided into two categories:
• Organized for profit?
Subcontracting Plans. These • Located in the U.S.?
subcontracting goals are reviewed at SBA-Certified and Self-Certified.
• Operated primarily within the U.S. or The SBA-Certified Programs were
time of proposal by both the contracting making a significant contribution to created to assist specific businesses
officer and SBA prior to the award of a the U.S. economy through payment
in securing federal contracts and
contract. of taxes or use of American products,
therefore can only be issued by SBA
The SDVOSB Protest is administered materials, or labor?
• Independently owned and operated? administrators. For the Self-Certified
by SBA to ensure that only businesses
• Not dominant in the field of operation Programs, you can determine for
owned by service-disabled veterans
in which it is bidding for government yourself if your business meets the
receive contracts reserved exclusively
contracts? requirements by referring to the
for them. When a business’s SDVOSB
• A sole proprietorship, partnership, Federal Acquisition Regulations (FAR).
self-certification is challenged, SBA corporation, or any other legal form? Just as Congress has given
determines if the business meets If the first six criteria apply to your federal agencies a goal of procuring
the status, ownership, and control business, ask yourself the second 23 percent of federal contracts from
requirements. important question to find out if small businesses, so too must federal
To determine your eligibility, your business meets size standard agencies meet specific contracting
contact your local veterans’ business requirements. goals for other categories of small
development officer, visit the firms. These goals are:
various program websites, or contact 2. What is the size standard for your • 23 percent of contracts from Small
SBA’s Office of Veterans Business business? Businesses
Development at www.sba.gov/about- Size standards are used to • 5 percent of contracts go to Small
offices-content/1/2985. determine whether a business is small Disadvantaged Businesses
or “other than small.” Size standards • 5 percent go to Women-Owned Small
vary depending upon the industry. To Businesses
WOMEN-OWNED determine the size standard for your • 3 percent go to Service-Disabled
SMALL BUSINESS business, you will need a NAICS code. Veteran-Owned Small Businesses
• 3 percent go to HUBZone Small
Every federal agency uses these codes
FEDERAL CONTRACT PROGRAM when considering your business. To
Federal agencies have a strong
On October 7, 2010, the SBA determine your NAICS code, go to
incentive to fulfill these contracting
published a final rule effective February www.census.gov/eos/www/naics/. Some goals. You should apply for those
4, 2011, aimed at expanding federal SBA programs require their own SBA-Certified and Self-Certified
contracting opportunities for women- unique size standards. To find out programs for which you qualify to take
owned small businesses. The Women- more about these requirements and advantage of contracting opportunities.
Owned Small Business (WOSB) other size standard information, go to
Federal Contract program authorizes www.sba.gov/size.
34 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
GETTING STAR TED IN CONTRACTING
Once you have identified the the database for prospective vendors. The of government. Businesses interested in
important information regarding your CCR is at www.ccr.gov. becoming GSA schedule contractors
business, it is time to start the process of After completing registration, you will should review the information available
procuring a government contract. be asked to enter your small business at www.gsa.gov/schedules.
1. Identify your DUNS (Data Universal profile information through the SBA 8. Make Sure Your Business is
Numbering System) Number Supplemental Page. The information Financially Sound
To register your business, obtain a will be displayed in the Dynamic Small This critical step is absolutely necessary
DUNS number used to identify and track Business Search. to make sure that your business is
millions of businesses. You can Creating a profile in CCR and keeping financially prepared for the journey
ahead. Even if you are able to obtain a
obtain your free DUNS number when it current ensures your firm has access
registering with the CCR (Central government contract, you will not be
to federal contracting opportunities.
Contractor Registration) at www.ccr.gov receiving all of the money at once. It
Entering your small business profile, helps to have a clear plan of how your
or by contacting Dun & Bradstreet at including your business information and
www.dnb.com. business will stage the benefits of the
key word description, allows contracting contract.
2. Identify your EIN officers, prime contractors, and buyers
(Employer Identification Number) 9. Search Federal Business Opportunities
from state and local governments to (FedBizOpps) for Contracting
An EIN, otherwise known as a federal tax
learn about your company. Opportunities
identification number, is generally
6. Use ORCA (Online Representations FedBizOpps, is an online service operated
required of all businesses. For more
and Certifications Application) by the federal government that
information, go to www.irs.gov. Prospective contractors must complete
3. Identify your NAICS (North American announces available business
(electronically or through submission of opportunities. FedBizOpps helps identify
Industry Classification) codes paperwork) representations and
The NAICS codes are used to classify the the needs of federal agencies and
certifications for small business size and available contracting opportunities.
industry a particular business occupies. program status as part of the process
You will need at least one NAICS code to To begin searching for contracting
that registers the business for federal opportunities, go to www.fbo.gov.
complete your registration, but be sure to contracting opportunities. To make this
list as many as apply. You may also add 10. Marketing Your Business
process easier for everyone involved, the Registering your business is not enough
or change NAICS codes at any time. Visit government developed ORCA, where
www.census.gov/eos/www/naics/ to find to obtain a federal contract; you will need
generally, businesses can complete all of to market your business to attract federal
NAICS codes. the paperwork online. To begin this
4. Identify your SIC (Standard Industrial agencies. Tips for good marketing are:
process, first register your firm in CCR, • Determine which federal agencies
Classification) codes then go to www.orca.bpn.gov.
The SIC codes are four-digit numbers buy your product or service, and
7. Register with the GSA Schedule get to know them;
that are used to classify the industry a The GSA (General Services • Identify the contracting
particular business occupies. While Administration) Multiple Award Schedule
NAICS codes have largely replaced SIC procedures of those agencies;
(aka Federal Supply Schedule) is used by • Focus on opportunities in your
codes, you will still need to provide your GSA to establish long-term, government
SIC code. SIC codes can be found at niche and prioritize them.
wide contracts with commercial firms.
www.osha.gov/pls/imis/sicsearch.html. Although not required, you may
Once these contracts are established,
5. Register with the CCR (Central want to obtain a PSC (Product Services
government agencies can order the
Contractor Registration) supplies and services they need directly
Code) and/or a FSC (Federal Supply
The CCR is an online federal from the firms through the use of an Classification). These codes provide
government maintained database of online shopping tool. Becoming a GSA additional information about the
companies wanting to do business with schedule contractor increases your services and products your business
the federal government. Agencies search opportunity for contracts across all levels offers.
ADDITIONAL PROCUREMENT RESOURCES
The following federal procurement • Procurement Center Representatives • Department of Defense (The DoD is
resources may also be of assistance: (PCR) and Commercial Marketing the largest purchaser of goods from
• The Certificates of Competency (CoC) Representatives (CMR): PCRs work small businesses):
program allows a small business, to increase the small business share www.acq.osd.mil/osbp/
which is the apparent successful of federal procurement awards. • Office of Federal Procurement Policy:
offeror, to appeal a contracting officer’s CMRs offer many services to small www.whitehouse.gov/omb/procurement_
businesses, including counseling on default
non-responsibility determination that
how to obtain subcontracts. To find a • Acquisition Forecast:
it is unable to fulfill the requirements
PCR or CMR near you, go to
of a specific government contract. The www.acquisition.gov/comp/procurement
SBA will conduct a detailed review _forecasts/index.html
of the firm’s technical and financial • Federal Supply Schedule (FSS):
• PTACs (Procurement Technical
capabilities to perform on the contract. Assistance Centers): PTACs provide www.gsa.gov
If the business demonstrates the assistance to businesses that want to • GSA Center for Acquisition Excellence:
capability to perform, the SBA issues sell products and services to federal, www.gsa.gov/portal/content/103487
a Certificate of Competency to the state, and/or local government. To
contracting officer, requiring award of find a PTAC in your state, go to
that contract to the small business. www.dla.mil/SmallBusiness/Pages/ptap.aspx.
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 35
SBA DISASTER ASSISTANCE
Knowing the Types of Assistance Available for Recovery
he Disaster Assistance Military Reservist Economic Injury The page provides links to resources
Program is SBA’s largest Disaster Loans (MREIDLs) are working to help you put together your own
direct loan program, and capital loans for small businesses emergency plan, preparedness tips,
the only form of SBA adversely affected when an essential and fact sheets about SBA recovery
assistance not limited to employee is called up to active duty assistance for homeowners, renters,
small businesses. SBA is responsible by the National Guard or Reserves. businesses of all sizes and private,
for providing affordable, timely and An “essential employee” is defined nonprofit organizations.
accessible financial assistance to as an individual (whether or not the Additionally, to help small businesses
homeowners, renters, businesses of all owner of the small business) whose with their preparedness planning, SBA
sizes and private, nonprofit organizations managerial or technical skill is critical has teamed up with Agility Recovery
following declared disasters. By law, to the successfully daily operation Solutions to offer business continuity
governmental units and agricultural of the business. The loan limit is $2 strategies for entrepreneurs via their
enterprises are ineligible. million, and the funds may be used to “PrepareMyBusiness” website. In
The SBA offers two types of disaster pay necessary operating expenses as addition to offering practical disaster
loans — Physical and Economic Injury they mature until operations return to preparedness tips, Agility is the co-host
Disaster Loans. normal after the essential employee is (with SBA) of a monthly disaster
Home Physical Disaster Loans up released from active military duty. The planning webinar for business owners.
to $200,000 are available to eligible MREIDLs cannot be used to replace lost Previous webinar topics have included
homeowners to repair or replace to profits. discussions on crisis communications,
its pre-disaster condition damaged or For all disaster loans, SBA can only testing your recovery plan, and using
destroyed real estate not fully covered approve loans to applicants having a social media to enhance business
by insurance. Renters and homeowners credit history acceptable to SBA and
recovery. Visit www.preparemybusiness.org
alike may borrow up to $40,000 to repair who also show the ability to repay the
to get the schedule for future webinars,
or replace clothing, furniture, cars, loans. The loan terms are established
view archived webinars, and for more
appliances, etc., that was damaged or in accordance with the borrower’s
repayment ability. The law gives SBA disaster planning tips.
destroyed in the disaster. As small businesses are leading
several powerful tools to make disaster
Business Physical Disaster Loans up America’s economic recovery, many of
loans affordable: low-interest rates
to $2 million are available to qualified them are investing time and money
(around 4 percent), long-terms (up to
businesses or private, nonprofit into their plans to grow and create
30 years), and refinancing of prior liens
organizations of any size to help (in some cases). As required by law, jobs. Developing a strong disaster
restore or replace damaged real estate, the interest rate for each loan is based preparedness plan should be a critical
inventory, machinery, equipment and on SBA’s determination of whether the and integral piece of those efforts.
other business assets to its pre-disaster applicant has credit available elsewhere Planning for a disaster is the best way of
condition. (the ability to borrow or use their own limiting its effects.
The SBA can also lend additional resources to recover after the disaster).
funds to homeowners and businesses More information on all of SBA’s Additional Resources
to help with the cost of making disaster assistance programs, including The SBA has partnered with the
improvements that protect, prevent information for military reservists, is American Red Cross to increase
or minimize the same type of disaster available at www.sba.gov/disaster. awareness in the business community
damage from occurring again. about the Red Cross Ready Rating™
Economic Injury Disaster Loans Disaster Preparedness program. Ready Rating™ is a free,
(EIDLs) are working capital loans For small businesses, surviving a self-paced, web-based membership
available to qualified small businesses, disaster doesn’t begin with clearing the program that helps a business measure
private nonprofit organizations of all debris and returning to work. its ability to deal with emergencies, and
sizes and small agricultural cooperatives With proper planning, surviving gives customized feedback on how to
that suffered financial losses because begins long before the disaster strikes— improve those efforts. Visit
of the disaster, regardless of physical or before active-duty orders are received. www.readyrating.org.
damage. The SBA can loan up to $2 Your planning should include insurance Additional information on developing
million to provide the necessary working coverage, emergency power, protection an emergency plan is available at the
capital to help small businesses pay fixed of company records, fire safety, medical federal government’s preparedness
debts, payroll, accounts payable and emergencies, taking care of your website www.ready.gov.
other bills that could have been covered employees and continuity planning – The Institute for Business and Home
had the disaster not occurred. The loan how your business will continue during Safety (www.disastersafety.org ) has useful
is not intended to replace lost sales or and after the emergency or disaster. tips on protecting your home or business.
profits. The combined limit for economic Starting is as easy as clicking on the
injury and physical damage assistance disaster preparedness page of SBA’s
for businesses is $2 million. website at www.sba.gov/content/disaster-
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 37
ADVOCACY AND OMBUDSMAN Watching out for small business interests
OFFICE OF ADVOCACY
ADVOCACY AND OMBUDSMAN
nonprofit organizations), and consider owners, nonprofit organizations and
regulatory alternatives that minimize small government entities. Comments
The SBA’s Office of Advocacy, the the economic burden on small entities. are forwarded to federal agencies for
“small business watchdog” of the Advocacy’s mission is enhanced by review, and in some cases fines may
government, examines the role and a team of regional advocates, located be lowered or eliminated and decisions
status of small business in the economy in the SBA’s 10 regions. They are changed in favor of the small business
and independently represents the Advocacy’s direct link to small business owners. Each year the National
views of small business to federal owners, state and local government
agencies, Congress, the President and Ombudsman files a report with the
entities, and organizations that U.S. Congress on the responsiveness
federal appellate courts as friends support the interests of small entities.
of the court. Advocacy compiles and of federal agencies regarding their
The regional advocates help identify
interprets statistics on small business actions of regulatory and compliance
regulatory concerns of small business
and is the primary entity within the enforcement on small businesses.
by monitoring the impact of federal and
federal government to disseminate small state policies at the grassroots level. To request help, send the National
business data. Learn more about the Office of Ombudsman a complete Federal Agency
Headed by the Chief Counsel for Advocacy at www.sba.gov/advocacy. Comment Form. You may do this
Advocacy, the office also funds outside online at www.sba.gov/ombudsman; by
OFFICE OF THE NATIONAL
research of small business issues fax at 202-481-5719; or by mail at 409
and produces numerous publications Third Street S.W., Mail Code 2120,
to inform policy makers about the
important role of small business
OMBUDSMAN Washington, DC 20416.
If excessive fines, penalties or The Ombudsman also coordinates
in the economy and the impact of 10 Regional Regulatory Fairness
government policies on small business. unfair regulatory enforcement by
federal agencies are problems for your Boards which meet regularly to receive
In addition, the office monitors federal comments about federal regulations
agency compliance with the Regulatory small business, you have a voice in
Washington, D.C., through the SBA’s affecting small businesses.
Flexibility Act – the law that requires Learn more about the National
agencies to analyze the impact of their Office of the National Ombudsman.
The Ombudsman receives Ombudsman at www.sba.gov/ombudsman
proposed regulations on small entities
(including small businesses, small comments regarding federal regulatory or call 888-REG-FAIR.
governmental jurisdictions and small enforcement from small business
38 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
ADDITIONAL RESOURCES Taking care of start up logistics
Building Codes, Permits and Zoning
It is important to consider zoning
regulations when choosing a site
for your business. You may not be
permitted to conduct business out of
your home or engage in industrial
activity in a retail district. Contact the
business license office in the city or
town in which the business is located.
In 1992, the Americans with
Disabilities Act mandated federal
requirements concerning barrier-
free design. These regulations are
intended to ensure that public facilities
are accessible to and usable by all
citizens, including elderly persons,
ven if you are running a which entail the handling and/or wheelchair users and individuals with
small home-based business, processing of foods must meet sanitary permanent or temporary conditions
you will have to comply with standards of the Mississippi State that reduce coordination or mobility or
many of the local, state, and Board of Health; an owner of this type make walking difficult and insecure.
federal regulations. Avoid Structures that undergo an alteration
of business should contact the county
the temptation to ignore regulatory must comply to a certain degree
health department. Stove ventilation
details. Doing so may avert some red with the barrier-free requirements.
systems in restaurants must
tape in the short term, but could be For more information, contact the
conform with local fire prevention U.S. Department of Justice ADA
an obstacle as your business grows. codes; a restaurant owner should
Taking the time to research the information line at 800-514-0301.
contact the local fire department Request Publication, ADA Guide for
applicable regulations is as important for guidance. Businesses which sell
as knowing your market. Bear in mind Small Business.
alcoholic beverages, tobacco, firearms
that regulations vary by industry. If
you’re in the food-service business, for
or ammunition should contact the
following agencies which have control FICTITIOUS BUSINESS NAME
example, you will have to deal with the over the sale of these items: United Registering your business name,
health department. If you use chemical after doing a search to make sure that
States Treasury Department’s
solvents, you will have environmental it is not already in use, protects you
Bureau of Alcohol, Tobacco and
compliances to meet. Carefully from others who might want to use
Firearms and the Mississippi State
investigate the regulations that affect the same name. For more information,
Tax Commission’s Alcoholic Beverage
your industry. Being out of compliance contact the county clerk’s office in the
could leave you unprotected legally, Control Bureau (ABC). The ABC not
only grants or denies licenses for the county where your business is based.
lead to expensive penalties and If you are a corporation, you’ll need to
jeopardize your business. sale of alcoholic beverages, but it is the
check with the state.
state’s only wholesaler of wines and
BUSINESS LICENSES The Office of the Secretary of State BUSINESS INSURANCE
There are many types of licenses, can direct businesses to state agencies, Like home insurance, business
both state and local as well as which may require special licenses, insurance protects your business against
professional. Depending on what you permits, examinations and other types fire, theft and other losses. Contact your
do and where you plan to operate, of certification. The Secretary’s office insurance agent or broker. It is prudent
your business may be required to compiles the Mississippi Official and for any business to purchase a number
have various state and/or municipal Statistical Register, which provide of basic types of insurance. Some types
licenses, certificates or permits. information on such groups as the of coverage are required by law, other
Licenses are typically administered Board of Barber Examiners, the simply make good business sense. The
by a variety of state and local Board of Public Accountancy and the types of insurance listed below are
departments. Consult your state or Commission on Health Care. among the most commonly used and are
local government for assistance. Contact the city or county merely a starting point for evaluating
fire department; county health the needs of your business.
Special Licenses, Permits and department; United States Treasury Liability Insurance – Businesses
Other Regulations may incur various forms of liability in
Department, Mississippi State Tax
conducting their normal activities. One
Some businesses require special Commission; Office of the Secretary of
of the most common types is product
licenses and permits, or must meet State of Mississippi Special Licenses.
liability, which may be incurred
additional regulations. Ventures
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 39
when a customer suffers harm from homeowners’ insurance company to who has an interest in a partnership,
using the business product. There are update your policy to include coverage S corporation or a limited liability
many other types of liability, which for office equipment. This coverage company files state and federal
are frequently related to specific is not automatically included in a declarations of estimated income. The
industries. Liability law is constantly standard homeowner’s policy. state and federal government have
changing. An analysis of your liability somewhat different rules governing
insurance needs by a competent individual estimated income taxes.
professional is vital in determining However, the installment due dates
an adequate and appropriate level of Taxes are an important and complex are the same which are April 15, June
protection for your business. aspect of owning and operating a 15, September 15 and January 15.
Property – There are many different successful business. Your accountant, Self-employment taxes are imposed
types of property insurance and levels payroll person, or tax advisor may be at the federal level and can be paid to
of coverage available. It is important very knowledgeable, but there are still the Internal Revenue Service when an
to determine the property you need many facets of tax law that you should individual files his annual income tax
to insure for the continuation of your know. The Internal Revenue Service is return for the past year.
business and the level of insurance a great source for tax information. Contact the Internal Revenue
you need to replace or rebuild. You Small Business/Self-Employed Tax Service; Mississippi State Tax
must also understand the terms of the Center: www.irs.gov/businesses/small/ Commission; an Accountant.
insurance, including any limitations or index.html.
waivers of coverage. When you are running a business, PAYROLL TAXES
Business Interruption – While you don’t need to be a tax expert. Any business with employees of any
property insurance may pay enough However, you do need some tax basics. type must comply with federal and
to replace damaged or destroyed IRS Small Business/Self-Employed state payroll requirements. This is
equipment or buildings, how will you Tax Center gives you the information true even if you are the sole employee
pay costs such as taxes, utilities and you need to stay tax compliant so your of a corporation which you own. It
other continuing expenses during the business can thrive. is critical that you understand the
period between when the damage Small Business Forms and various deadlines and requirements,
occurs and when the property is or that you use the services of someone
replaced? Business Interruption (or who does. The major types of payroll
/article/0,,id= 99200,00.html taxes in Mississippi are: Income
“business income”) insurance can Download multiple small business Tax Withholding (federal and state);
provide sufficient funds to pay your and self-employed forms and Federal Social Security Tax (FICA);
fixed expenses during a period of time publications. Federal Unemployment Tax (FUTA);
when your business is not operational. Complying with local, state and and Mississippi Unemployment Tax.
“Key Man” – If you (and/or any federal tax regulations is one of the
other individual) are so critical to most critical aspects of financial
the operation of your business that it SALES TAX
management for the small business The sale of many types of tangible
cannot continue in the event of your owner. Failure to comply with these goods in Mississippi incurs a sales
illness or death, you should consider regulations may result in substantial tax. It is the responsibility of the
“key man” insurance. This type of penalties or even the closure of your business to collect this tax, keep
policy is frequently required by banks business. The following information accurate records and remit the funds
or government loan programs. It also is not intended as a comprehensive according to established guidelines.
can be used to provide continuity discussion of tax regulations; it is Failure to comply with the sales tax
in operations during a period of merely an overview of some of the most requirements can result in serious
ownership transition caused by the common types of tax requirements. financial consequences for the
death, incapacitation or absence due business. For more information contact
to a Title 10 military activation of an INCOME TAXES the: Mississippi State Tax Commission
owner or other “key” employee. Different types of businesses (i.e., at 601-923-7000 or visit their website
Automobile – It is obvious that sole proprietorships, partnerships and at: www.mstc.state.ms.us/index.html
a vehicle owned by your business corporations) have different income
FEDERAL PAYROLL TAX
should be insured for both liability tax requirements. One of the primary
and replacement purposes. What is considerations in choosing a legal
less obvious is that you may need structure for your business is the tax
special insurance (called “non-owned implications of a particular structure. An Employer Identification Number
automobile coverage”) if you use your Each of the various types of legal (EIN), also known as a Federal
personal vehicle on company business. structures has different requirements Employer Identification Number
This policy covers the business’ regarding filing dates, forms required (FEIN), is used to identify a business
liability for any damage which may and tax calculations. The fact that a entity. Generally, businesses need an
result for such usage. business does not show a profit does EIN to pay federal withholding tax.
Officer and Director – Under most not release it from its obligations to file You may apply for an EIN in various
state laws, officers and directors of a the proper income tax forms. ways, one of which is to apply online.
corporation may become personally Both state and federal income www.irs.gov/businesses/small/article/0,,id=
liable for their actions on behalf of the tax returns are due by April 15 of 102767,00.html. This is a free service
company. This type of policy covers each year. Profits or losses from offered by the Internal Revenue Service.
this liability. sole proprietorships, partnerships, Call 800-829-1040 if you have
Home Office – If you are S corporations and limited liability questions. You must check with your
establishing an office in your home, companies are reported on individual state to determine if you need a state
it is a good idea to contact your or joint income tax returns. Generally, number or charter.
a sole proprietor or an individual
40 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
FEDERAL IRS to obtain your number and required
tax forms. Call 800-829-3676 or
resource to help small business owners
learn about their federal tax rights
SELF-EMPLOYMENT TAX 800-829-1040 if you have questions. and responsibilities. This educational
Every employee must pay Social product, available online and on CD
Security and Medicare coverage. If you Employees vs. Contract Labor consists of nine stand-alone lessons
are self-employed, your contributions Individuals may provide services to that can be selected and viewed in
are made through the self-employment your business as either employees or as any sequence. A bookmark feature
tax. contractors. Which status an individual makes it possible to leave and return
The IRS has publications, counselors has affects your taxes, liability, benefit to a specific point within the lesson.
and workshops available to help you costs and many other areas of your Users also have access to a list of
sort it out. For more information, business. The question of employee useful online references that enhance
contact the IRS at 800-829-1040 or vs. contractor is therefore critical, the learning experience by allowing
www.irs.gov. but it is not simple. There are many them to view references and the video
different tests the IRS may apply to lessons simultaneously.
Tax Calendar for Small Businesses
determine whether an individual is an
employee or a contractor. Improperly and Self-Employed (Publication 1518)
EXEMPTION CERTIFICATE classifying someone whom the IRS www.irs.gov/businesses/small/article/0,,id=
considers an employee as a contractor
If you plan to sell products, you The Tax Calendar for Small
can result in very stiff penalties. If
will need a Sales Tax Exemption Businesses and Self-Employed
you wish to consider using contractors
Certificate. It allows you to purchase contains useful information on general
instead of employees in your business,
inventory, or materials, which will business taxes, IRS and SSA customer
it is important that you consult with a
become part of the product you sell, assistance, electronic filing and paying
competent tax advisor prior to making
from suppliers without paying taxes. options, retirement plans, business
a decision. Contact the IRS for more
It requires you to charge sales tax publications and forms, common tax
information on contract/labor services at
to your customers, which you are filing dates, and federal legal holidays.
responsible for remitting to the
state. You will have to pay penalties
if it is found that you should have IRS WEB PRODUCTS SOCIAL SECURITY CARDS
been taxing your products and now
owe back taxes to the state. For
FOR SMALL BUSINESSES All employees must have a social
security card. It must be signed by its
information on sales tax issues, contact For the most timely and up-to-date
owner, and you should always ask to
your state’s government. tax information, go to www.irs.gov/
see and personally record the social
security number. Failure to do so may
FEDERAL INCOME TAX VIRTUAL SMALL BUSINESS
cause your employee to lose benefits and
considerable trouble for yourself in back
Like the state income tax, the method tracking to uncover the error.
of paying federal income taxes depends Each payday, your employees must
upon your legal form of business. www.tax.gov/virtualworkshop/
The Virtual Small Business Tax receive a statement from you telling
Sole Proprietorship: You must file them what deductions were made
IRS Federal Form Schedule C along Workshop is the first of a series of
video products designed exclusively and how many dollars were taken out
with your personal Federal Income for each legal purpose. This can be
Tax return (Form 1040) and any other for small business taxpayers. This
workshop helps business owners presented in a variety of ways, including
applicable forms pertaining to gains or on the check as a detachable portion
losses in your business activity. understand federal tax obligations.
The Virtual Small Business Workshop or in the form of an envelope with the
Partnership: You must file a Federal items printed and spaces for dollar
Partnership return (Form 1065). This is available on CD www.irs.gov/
businesses/small/article/0,,id= deductions to be filled in.
is merely informational to show gross
and net earnings of profit and loss. Also, 101169,00.html and online
each partner must report his share of www.irsvideos.gov/virtualworkshop/ if you EMPLOYEE CONSIDERATIONS
are unable to attend a workshop in
partnership earnings on his individual
person. Small business workshops are Taxes
Form 1040 based on the information
designed to help the small business If you have any employees, including
from the K-1 filed with the Form 1065.
owner understand and fulfill their officers of a corporation but not the sole
Corporation: You must file a Federal
federal tax responsibilities. Workshops proprietor or partners, you must make
Corporation Income Tax return (Form
are sponsored and presented by periodic payments towards, and/or file
1120). You will also be required to report
IRS partners who are federal tax quarterly reports about payroll taxes
your earnings from the corporation
specialists. and other mandatory deductions. You
including salary and other income such
Workshop topics vary from a may contact these government agencies
as dividends on your personal federal
general overview of taxes to more for information, assistance and forms.
income tax return (Form 1040). Social Security Administration
specific topics such as recordkeeping
and retirement plans. Although
FEDERAL PAYROLL TAX most are free, some workshops have
Federal Withholding Tax: Any fees associated with them. Fees
business employing a person must for a workshop are charged by the Social Security’s Business Services
register with the IRS and acquire an sponsoring organization, not the IRS. Online
EIN and pay federal withholding tax at The IRS’s Virtual Small Business The Social Security Administration
least quarterly. File Form SS-4 with the Tax Workshop is an interactive now provides free electronic services
online at www.socialsecurity.gov/employer/.
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 41
Once registered for Business Services
Online, business owners or their
SAFETY AND HEALTH Unemployment Insurance
authorized representative can: REGULATIONS Unemployment insurance protects
workers who lose their jobs through
• file W-2s online; and All businesses with employees no fault of their own. The funds to pay
• verify Social Security Numbers are required to comply with state workers who are covered under this
through the Social Security Number and federal regulations regarding type of insurance are accumulated
Verification Service, used for all the protection of employees. The from taxes on the wages of employees
employees prior to preparing and
submitting Forms W-2.
Occupational Safety and Health during their employment. Both state
Federal Withholding Administration outlines specific health and federal unemployment taxes are
U.S. Internal Revenue Service and safety standards adopted by the paid by employers. No deductions can be
800-829-1040 U.S. Department of Labor. made from an employee’s wages to cover
www.irs.gov these taxes. The publication, Employer
Federal Occupation Safety & Health Rights and Responsibilities, provides a
Health Insurance Department of Labor
good, easy-to-understand overview of
Compare plans in your area at 200 Constitution Ave. Mississippi’s unemployment system. To
www.healthcare.gov. Washington, DC 20210 obtain a copy of this publication, or to
1-866-487-2365 obtain registration forms, contact the:
Employee Insurance Mississippi Employment
If you hire employees you may be JACKSON AREA OFFICE Security Commission
required to provide unemployment or Dr. A.H. McCoy Federal Building Employment Security Bldg.
workers’ compensation insurance. 100 W. Capitol St., Ste. 749 1520 W. Capitol St.
Jackson, MS 39269 Jackson, MS 39203
WORKPLACE DISABILITY 601-965-4606
Federal Unemployment Insurance
PROGRAMS U.S. Department of Labor (FUTA) is collected by the IRS. When
you file your application for a Federal
Americans with Disabilities Act Dr. A.H. McCoy Federal Building
100 W. Capitol St., Ste. 725 Employer Identification Number (FEIN)
(ADA): For assistance with the ADA, call
Jackson, MS 39269 with the IRS and indicate you have
800-669-3362 or visit www.ada.gov. 601-965-4347 employees, the IRS will send you a
packet of forms.
U.S. CITIZENSHIP AND U.S. Equal Employment Opportunity
IMMIGRATION SERVICES Commission
Dr. A.H. McCoy Federal Building BUILDING CODES,
The Federal Immigration Reform and
Control Act of 1986 requires employers
100 W. Capitol St., Ste. 207
Jackson, MS 39269
PERMITS AND ZONING
1-800-669-4000 It is important to consider zoning
to verify employment eligibility of
www.eeco.gov regulations when choosing a site for your
new employees. The law obligates business. You may not be permitted to
an employer to process Employment Use of hazardous substances in conduct business out of your home or
Eligibility Verification Form I-9. The businesses is highly regulated and there engage in industrial activity in a retail
U.S. Citizenship and Immigration are heavy fines for non-compliance. district. Contact the business license
Services Office of Business Liaison offers office in the city or town where the
a selection of information bulletins and U.S. Environmental Protection Agency business is located.
live assistance through the Employer Ariel Rios Bldg.
1200 Pennsylvania Ave. N.W.
Hotline. For forms call 800-870-3676, for
the Employer Hotline call 800-357-2099.
Washington, DC 20460 BAR CODING
202-272-0167 Many stores require bar coding on
packaged products. Many industrial
E-Verify: Employment Eligibility and manufacturing companies use bar
Mississippi Department of
Verification Environmental Quality coding to identify items they receive and
E-Verify, operated by the Department 515 E. Amite St. ship. There are several companies that
of Homeland Security in partnership Jackson, MS 39201 can assist businesses with bar-coding
with the Social Security Administration, 601-961-5171 or 888-786-0661 Toll Free needs. You may want to talk with an
is the best--and quickest--way for
SBDC, SCORE or WBC counselor for
employers to determine the employment Workers’ Compensation Insurance more information.
eligibility of new hires. It is a safe, All employers that regularly employ
simple, and secure Internet-based four or more part-time employees at Federal Registration of Trademarks
system that electronically verifies the one time, or employed one or more and Copyrights
Social Security number and employment persons for at least 13 weeks during Trademarks or service marks are
eligibility information reported on Form the preceding 52 weeks, are required to words, phrases, symbols, designs or
I-9. E-Verify is voluntary in most states have workers’ compensation insurance. combinations thereof that identify
and there is no charge to use it. The majority of employers in Mississippi and distinguish the source of goods.
If you are an employer or employee obtain workers’ compensation coverage Trademarks may be registered at both
and would like more information about through policies purchased from the state and federal level. To register a
the E-Verify program, please visit commercial insurance companies. federal trademark, contact:
www.dhs.gov/E-Verify or contact our Premium rates may vary widely, so it U.S. Patent and Trademark Office:
Customer Support staff: 1-888-464-4218 may pay to shop carefully. Contact the P.O. Box 1450
Monday – Friday 8 am – 5 pm. Mississippi Workers’ Compensation Alexandria, VA 22313-1450
E-mail: firstname.lastname@example.org Commission toll free at 866-473-6922 or 800-786-9199
via email at: www.mwcc.state.ms.us/. www.uspto.gov/
42 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
Trademark Information Hotline
Concerning Patents and other
publications distributed through the
U.S. Patent and Trademark Office. For
Gulf Coast Business Council
STATE REGISTRATION more information, contact the:
U.S. Patent and Trademark Office 11975 Seaway Rd., Ste. A-120
OF A TRADEMARK 800-786-9199 • www.uspto.gov Gulfport, MS 39503
Trademarks and service marks may www.msgcbc.org
be registered in a state. Copyrights
Caution: Federally registered Copyrights protect original works of
Better Business Bureau (BBB)
trademarks may conflict with and authorship including literary, dramatic,
supersede state registered business and musical and artistic, and certain other
505 Avalon Way, Ste. B
product names. intellectual works. Copyrights do
Brandon, MS 39407
not protect facts, ideas and systems,
Toll Free in MS 800-987-8280 or
Patents although it may protect the way these
A patent is the grant of a property things are expressed. For general
right to the inventor by the U.S. Patent information contact:
and Trademark Office. It provides the
U.S. Copyright Office
U.S. Library of Congress
owner with the right to exclude others James Madison Memorial Building
from making, using, offering for sale or Washington, DC 20559
selling the patented item in the United 202-707-9100 - Order Line
States. 202-707-3000 - Information Line
Additional information is provided in www.copyright.gov
the publications, General Information
Choosing Your Business Structure
There are many forms of legal relatively little regulation and are fairly from those of the individual(s) forming
structure you may choose for your easy to establish. A formal partnership the corporation. It’s the most complex
business. Each legal structure offers agreement is recommended to address form of business organization and is
organizational options with different potential conflicts such as: who will be comprised of shareholders, directors
tax and liability issues. We suggest you responsible for performing each task; and officers. Since the corporation
research each legal structure thoroughly what, if any, consultation is needed is a separate legal entity in its own
and consult a tax accountant and/or between partners before major decisions, right it can own assets, borrow money
attorney prior to making your decision. and what happens when a partner and perform business functions
The most common organizational dies. Under a general partnership each without directly involving the owners.
structures are sole proprietorships, partner is liable for all debts of the Corporations are subject to more
general and limited partnerships, “C” business. Profits are taxed as income to government regulation and offer the
and “S” corporations and limited liability the partners based on their ownership owners the advantage of limited liability,
companies. percentage. but not total protection from lawsuits.
Each structure offers unique tax and
liability benefits. If you’re uncertain Subchapter “S” Corporation
Limited Partnership Subchapter “S” references a special
which business format is right for you, Like a general partnership, a
you may want to discuss options with a part of the Internal Revenue Code that
limited partnership is established by permits a corporation to be taxed as a
business counselor or attorney. an agreement between two or more partnership or sole proprietorship, with
persons. However, there are two types profits taxed at the individual, rather
Sole Proprietorship of partners. than the corporate rate. A business
One person operating a business as • A general partner has greater control
must meet certain requirements for
an individual is a sole proprietorship. in some aspects of the partnership.
Subchapter “S” status. Contact the IRS
It’s the most common form of business For example, only a general partner
can decide to dissolve the partnership. for more information.
organization. Profits are taxed as
General partners have no limits on the
income to the owner personally. The dividends they can receive from profit LLCs and LLPs
personal tax rate is usually lower than so they incur unlimited liability. The limited liability company is
the corporate tax rate. The owner • Limited partners can only receive a relatively new business form. It
has complete control of the business, a share of profits based on the combines selected corporate and
but faces unlimited liability for its proportional amount on their
partnership characteristics while
debts. There is very little government investment, and liability is similarly
limited in proportion to their still maintaining status as a legal
regulation or reporting required with entity distinct from its owners. As a
this business structure. separate entity it can acquire assets,
“C” Corporation incur liabilities and conduct business.
General Partnership A “C” corporation is a legal entity It limits liability for the owners. The
A partnership exists when two created under state law by the filing of limited liability partnership is similar
or more persons join together in articles of incorporation. A corporation to the LLC, but it is for professional
the operation and management of a is a separate entity having its own organizations.
business. Partnerships are subject to rights, privileges and liabilities, apart
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 43
O T H E R A SSISTANCE
OTHER SOURCES OF DISTRICT 4
MDA EAST CENTRAL REGIONAL OFFICE
Mississippi Association NORTH DELTA PDD
P.O. Box 1488
of Planning and
ASSISTANCE 2401 11th St.
Meridian, MS 39301 Development Districts
Batesville, MS 38606
662-561-4100 • 662-561-4112 Fax
601-692-2006 • 601-484-2579 Fax (MAPDD) Serving Coahoma, DeSoto, Panola,
Serving Choctaw, Clarke, Clay, Jasper, Planning and Development Districts Quitman, Tallahatchie, Tate and Tunica
Authority Kemper, Lauderdale, Leake, Lowndes, are regional development organizations counties.
www.mississippi.org Neshoba, Newton, Noxubee, Oktibbeha, created to address economic development
The Mississippi Development Authority Scott, Smith, Webster and Winston through a multi-faceted approach unique NORTHEAST MISSISSIPPI PDD
(MDA), formerly the Department of counties. to the specific region and jurisdiction being P.O. Box 600
Economic and Community Development, served. There are a variety of programs and Booneville, MS 38829
provides a wide variety of services that DISTRICT 5 activities available through the statewide 662-728-6248 • 662-728-2417 Fax
encourage economic growth in the state. MDA WEST CENTRAL REGIONAL OFFICE network of Planning and Development Serving Alcorn, Benton, Marshall,
The MDA is the state agency having 501 North West St., Ste. 428 Districts for existing businesses. Within Prentiss, Tippah and Tishomingo
primary responsibility for assisting existing Jackson, MS 39201 each area, specific types of assistance counties.
businesses with expansion plans and 601-359-2457 • 601-359-5042 Fax vary as do the unique requirements of the
Serving Hinds, Madison, Yazoo, Warren, SOUTH DELTA PDD
creating new businesses, both within the different regions. Generally, if there is a
Copiah and Simpson counties. 124 S. Broadway/P.O. Box 1776
state and from national and international source of assistance available from one
Greenville, MS 38702
recruiting. district, other areas may access this source
DISTRICT 6 662-378-3831 • 662-378-3834 Fax
The department provides information and of assistance through technology transfer
MDA SOUTHWEST REGIONAL OFFICE Serving Bolivar, Humphreys, Issaquena,
assistance on many business and industrial or joint venture.
P.O. Box 728 Sharkey, Sunflower and Washington
topics, markets, labor availability, site data, In addition to specific sources of
Summit, MS 39666-0728 counties.
raw material sources and other related individualized technical aid, the Districts
subjects in the area of existing industry and 601-276-3089 • 601-276-3870 Fax maintain area-wide eligibility for many SOUTHERN MISSISSIPPI PDD
business. Serving Adams, Amite, Claiborne, Franklin, types of federal and state programs. Also, 9229 Hwy. 49
Areas of Assistance for Existing Industry Jefferson, Lawrence, Lincoln, Pike, Walthall each district has been designated by both Gulfport, MS 39503
and Business and Wilkinson counties. state and federal executive order to serve as 228-868-2311 • 228-868-7094 Fax
• Community Services a regional clearinghouse, and, if direct aid is Serving Covington, Forrest, George, Greene,
• Employment Training DISTRICT 7 not available, a quick referral and follow-up Hancock, Harrison, Jackson, Jefferson Davis,
• Energy MDA SOUTHEAST REGIONAL OFFICE will be made. Jones, Lamar, Marion, Pearl River, Perry,
• Existing Industry and Business 420 W. Pine St. Areas of Assistance for Existing Industry Stone and Wayne counties.
• Financial Resources Hattiesburg, MS 39403 & Business
• Foreign Trade Zones 601-545-4001 • 601-545-4006 Fax •
Community Development SOUTHWEST MISSISSIPPI PDD
• International Development Serving Covington, Jones, Wayne, Jefferson Economic Development Financing
• 110 S. Wall St.
• National Development Davis, Marion, Lamar, Forrest, Perry and •
Employment Training Assistance Natchez, MS 39120
• Minority and Small Business Division Greene counties. Information and Data Services
• 601-446-6044 • 601-446-6071 Fax
Service Areas and Locations by County of •
General Technical Assistance Serving Adams, Amite, Claiborne, Franklin,
Existing Industry and Business Field Offices DISTRICT 8 Service Areas and Locations by County of Jefferson, Lawrence, Lincoln, Pike, Walthall
DISTRICT 1 MDA GULF COAST REGIONAL OFFICE Existing Industry and Business Field Offices and Wilkinson counties.
MDA NORTH DELTA REGIONAL OFFICE 1141 Bayview Ave., Ste. 401 CENTRAL MISSISSIPPI PDD
910 E.F. Hale Dr. Biloxi, MS 39530 1170 Lakeland Dr./P.O. Box 4935 THREE RIVERS PDD
Senatobia, MS 38668 228-523-4034 • 228-374-2973 Fax Jackson, MS 39296 P.O. Box 690
662-562-0410 • 662-562-0407 Fax Serving Hancock, Harrison, Jackson, George, 601-981-1511 • 601-981-1515 Fax Pontotoc, MS 38863
Serving Coahoma, DeSoto, Panola, Quitman, Pearl River and Stone counties. Serving Copiah, Hinds, Madison, Rankin, 662-489-2415 • 662-489-6815 Fax
Tallahatchie, Tate and Tunica counties. Simpson, Warren and Yazoo counties. Serving Calhoun, Chickasaw, Itawamba,
MISSISSIPPI DEVELOPMENT AUTHORITY
Lafayette, Lee, Monroe, Pontotoc and Union
DISTRICT 2 P.O. Box 849 EAST CENTRAL MISSISSIPPI PDD counties.
MDA NORTHEAST REGIONAL OFFICE Jackson, MS 39205 280 Commercial Dr./P.O. Box 499
330 W. Jefferson 601-359-3449 • 601-359-2832 Fax Newton, MS 39345 MISSISSIPPI ASSOCIATION OF
Tupelo, MS 38804 601-683-2007 • 601-683-7873 Fax PLANNING AND DEVELOPMENT
662-844-5413 • 662-842-3667 Fax MAGNOLIA BUSINESS ALLIANCE Serving Clarke, Jasper, Kemper, Lauderdale, DISTRICTS (MAPDD)
Serving Alcorn, Benton, Calhoun, Chickasaw, The Magnolia Business Alliance (MBA) Leake, Neshoba, Newton, Scott and Smith 1170 Lakeland Dr./P.O. Box 4935
Itawamba, Lafayette, Lee, Marshall, Monroe, is a not-for-profit corporation acting as counties. Jackson, MS 39296
Pontotoc, Prentiss, Tippah, Tishomingo and a support organization and forum for
601-981-1511 • 601-981-1515 Fax
Union counties. the advancement of small and medium GOLDEN TRIANGLE PDD Center for Entrepreneurship
businesses(SMB) in the Southeastern P.O. Box 828 The Center for Entrepreneurship is a
DISTRICT 3 US. MBA consists entirely of SMB leaders Starkville, MS 39760-0828 special assistance business center whose
MDA NORTHWEST REGIONAL OFFICE providing mentorship, training, logistics, 662-324-7860 • 662-324-7328 Fax focus is women, minorities and the
115 Fulton St. and other support as needed to facilitate Serving Choctaw, Clay, Lowndes, underserved. The center offers support,
Greenwood, MS 38930 the development of new companies, a Noxubee, Oktibbeha, Webster and training, counseling, mentoring, and
662-455-4508 • 662-455-7903 Fax better environment for existing companies, Winston counties. other resources for start-ups and existing
Serving Attala, Bolivar, Carroll, Grenada, and foster community and national
businesses. Business counseling services
Holmes, Humphreys, Issaquena, LeFlore, awareness of issues affecting small NORTH CENTRAL PDD
are provided with a unique hands-on
Montgomery, Sharkey, Washington and businesses. 711B S. Applegate
approach and at no cost.
Yalobusha counties. 13131 Hwy. 603, Ste. 208 Winona, MS 38967
Bay Saint Louis, MS 39520 662-283-2675 • 662-283-5875 Fax MISSISSIPPI UNIVERSITY OF WOMEN
228-295-7117 • 228-295-7119 Fax Serving Attala, Carroll, Montgomery, 1100 College St., MUW-969
www.magnolia-ba.biz Grenada, Holmes, LeFlore and Yalobusha Columbus, MS 39701
44 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
O T H E R A SSISTANCE
The Mississippi Angel EQUIFAX CANTON CoC GEORGE COUNTY CoC
P.O. Box 105873 226 E. Peace St./P.O. Box 74 P.O. Box 441
Network Atlanta, GA 30348 Canton, MS 39046 Lucedale, MS 39452-0441
The Mississippi Angel Network is a 800-685-1111 601-859-5816 601-947-2755
group of accredited investors interested www.equifax.com
in reviewing fundraising presentations CLARKE COUNTY CoC GREATER JACKSON CHAMBER
ranging from $500,000 to $5 million from TRANSUNION P.O. Box 172 PARTNERSHIP
Mississippi-based technology companies P.O. Box 2000 Quitman, MS 39355 201 S. President St./P.O. Box 22548
seeking seed and growth capital. The Springfield, PA 19022 601-776-5701 Jackson, MS 39225
Network is administered by the Mississippi 800-916-8800 601-948-7575
Technology Alliance (“MTA”) and is www.tuc.com CLEVELAND-BOLIVAR COUNTY CoC
comprised of accredited individual and 600 Third St./P.O. Box 490 GREENVILLE AREA CoC
institutional investors from inside and
outside of the state. Companies seeking Mississippi Chamber Cleveland, MS 38732 P.O. Drawer 933
662-843-2712 Greenville, MS 38701
funding via the Network must either be Resource Centers 662-378-3141
headquartered in Mississippi or have CLINTON CoC
substantial operations within the state. AREA DEVELOPMENT PARTNERSHIP
P.O. Box 143 GREENWOOD-LEFLORE COUNTY CoC
THE MISSISSIPPI ANGEL NETWORK P.O. Box 751
Clinton, MS 39060-0143 P.O. Box 848
134 Market Ridge Dr. Hattiesburg, MS 39403
601-924-5912 Greenwood, MS 38935-0848
Ridgeland, MS 39157 601-296-7500
601-960-3610 COAHOMA COUNTY CoC AND
www.technologyalliance.ms ARKANSAS/MISSISSIPPI MINORITY
INDUSTRIAL FOUNDATION GRENADA COUNTY CoC
BUSINESS COUNCIL (AMMBC)
P.O. Box 160 P.O. Box 628
MyBiz.am 1230 Raymond Rd./P.O. Box 600
Clarksdale, MS 38614 Grenada, MS 38902-0628
Connects Alabama and Mississippi Jackson, MS 39204
entrepreneurs to people and organizations 601-826-6527 • 601-965-0371 Fax
that provide helpful services. MyBiz.am email@example.com
COLUMBUS-LOWNDES CoC GULF COAST CoC
also connects to Internet resources and www.ammbc.org
P.O. Box 1016 11975 E. Seaway Rd.
communities that value entrepreneurs. Columbus, MS 39703 Gulfport, MS 39503
THE MONTGOMERY INSTITUTE BALDWYN CoC
200 24th Ave. S./P.O. Box 1889 202 S. Second St./P.O. Box 40
Meridian, MS 39301 Baldwyn, MS 38824
CORINTH CoC HANCOCK COUNTY CoC
601-483-2661 • 601-483-2641 Fax 662-365-1050
The Alliance 111 Court St.
firstname.lastname@example.org 810 Tate St./P.O. Box 1089 Bay St. Louis, MS 39520
Corinth, MS 38834 228-467-9048
111 Magnolia St./P.O. Box 145
Business Bureau Belzoni, MS 39038
The Better Business Bureau serves as the COVINGTON COUNTY CoC P.O. Box 446
preeminent source of information relating 104 Fir Ave./P.O. Box 1595 Hazlehurst, MS 39083
to ethical business and advertising practices Collins, MS 39428 601-894-3752
and is a major provider of marketplace 601-765-6012
11975 E. Seaway Rd.
dispute resolution services. HERNANDO CoC
Gulfport, MS 39503
THE BETTER BUSINESS BUREAU CRYSTAL SPRINGS CoC 2440 Hwy. 51 S.
OF MISSISSIPPI, INC. 210 E. Railroad Ave./P.O. Box 519 Hernando, MS 38632
P.O. Box 12745 Crystal Springs, MS 39059 662-429-9055
BILOXI BAY CoC
Jackson, MS 39236-2745 601-892-2711
1050 Beach Blvd.
601-987-8282 HOLLY SPRINGS CoC
Biloxi, MS 39530
www.bbbmississippi.org D’IBERVILLE-ST. MARTIN CoC 148 E. College Ave.
10491 Lemoyne Blvd. Holly Springs, MS 38635
Credit Bureaus BOONEVILLE CoC
D’Iberville, MS 39540 662-252-2943
The Fair Credit Reporting Act (FCRA) 228-392-2293
100 W. Church St./P.O. Box 927
requires credit reporting agencies (CRA’s) to HOLMES COUNTY CoC
Booneville, MS 38829
furnish correct and complete information DREW CoC 103 W. China St.
for businesses to use when evaluating 129 Shaw Ave. Lexington, MS 39645
your application for loans, insurance, Drew, MS 38737 662-834-3372
BROOKHAVEN-LINCOLN COUNTY CoC
employment, leases, etc. You have the 662-745-8975
P.O. Box 978
right to know all the information in your HORN LAKE CoC
Brookhaven, MS 39602
credit report, including the source of the EAST MISSISSIPPI BUSINESS 3010 Goodman Rd. W., Ste. B
information in most cases, and the right DEVELOPMENT CORPORATION Horn Lake, MS 38637
to a free copy of your credit report when P.O. Box 790 662-393-9897
your application is denied because of Meridian, MS 39302
P.O. Box 1013
information supplied by the CRA. Your 601-693-1306 HOUSTON CoC
North Side of Square
request must be made within 30 days of Chickasaw Development Foundation
Bruce, MS 38915
receiving your denial notice. FOREST CoC P.O. Box 505
EXPERIAN 120 S. Davis St./P.O. Box 266 Houston, MS 38851
P.O. Box 9600 Forest, MS 39074 662-456-2321
CALHOUN CITY CoC
Allen, TX 75013 601-469-4332
102 S. Monroe St./P.O. Box 161
888-397-3742 INDIANOLA CoC
Calhoun City, MS 38916
www.experian.com 315 Main St.
Indianola, MS 38751
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 45
O T H E R A SSISTANCE
ITAWAMBA COUNTY CoC MAGEE CoC
107 W. Wiygul St./P.O. Box 577 117 N.W. 1st Ave.
Fulton, MS 38843 Magee, MS 39111
JACKSON COUNTY AREA CoC MARION COUNTY CoC
720 Krebs Ave. 200 Second St.
Pascagoula, MS 39587 Columbia, MS 39429
JEFFERSON DAVIS COUNTY CoC MENDENHALL CoC
P.O. Box 1797 P.O. Box 635
Prentiss, MS 39474 Mendenhall, MS 39114
JONES COUNTY CoC MONROE COUNTY CoC
153 Base Dr. 124 W. Commerce St./P.O. Box 72 ORANGE GROVE CoC PORT GIBSON-CLAIBORNE COUNTY CoC
Laurel, MS 39440-5849 Aberdeen, MS 39730 13470 Hwy. 49 U.S. Hwy. 61 S./P.O. Box 491
601-428-0574 662-369-6488 Gulfport, MS 39503 Port Gibson, MS 39150
KEMPER COUNTY CoC MONROE COUNTY CoC
102 Industrial Park Dr./P.O. Box 518 1619 Hwy. 25 N./P.O. Box 128 OXFORD-LAFAYETTE COUNTY CoC RANKIN COUNTY CoC
DeKalb, MS 39328 Amory, MS 38821 299 W. Jackson/P.O. Box 147 101 Service Dr./P.O. Box 428
601-743-2754 662-256-7194 Oxford, MS 38655 Brandon, MS 39043
KOSCIUSKO-ATTALA CoC MOORHEAD CoC
124 N. Jackson P.O. Box 396 PANOLA PARTNERSHIP RIDGELAND CoC
P.O. Box 696 Moorhead, MS 38761 107 Public Sq. P.O. Box 194
Kosciusko, MS 39090 662-246-5461 Batesville, MS 38606 Ridgeland, MS 39158-0194
662-289-2981 662-563-3126 601-991-9996
LAMAR COUNTY CoC P.O. Box 530 PASS CHRISTIAN CoC RULEVILLE CoC
P.O. Box 598 Morton, MS 39117 11975 E. Seaway Rd. 110 E. Floyce St./P.O. Box 552
Purvis, MS 39475 601-732-6135 Gulfport, MS 39503 Ruleville, MS 38771
601-794-1011 228-604-0014 662-756-2997
NATCHEZ-ADAMS COUNTY CoC
LAWRENCE COUNTY CoC 211 Main St./P.O. Box 1403 PEARL CoC SARDIS-SARDIS LAKE CoC
P.O. Box 996 Natchez, MS 39121 P.O. Box 54125 114 W. Lee St./P.O. Box 377
Monticello, MS 39654 601-445-4611 Pearl, MS 39288 Sardis, MS 38666
601-587-3007 601-939-3338 662-487-3451
NEW ALBANY/UNION COUNTY CoC
LEAKE COUNTY CoC AND P.O. Box 125 PETAL CoC SOUTHAVEN CoC
INDUSTRIAL DEVELOPMENT New Albany, MS 38652 712-B S. Main St. 8700 Northwest Dr.
P.O. Box 209 662-534-4354 Petal, MS 39465 Southaven, MS 38671
Carthage, MS 39051 601-583-3306 662-342-6114
601-267-9231 NEWTON CoC
P.O. Box 301 PHILADELPHIA-NESHOBA COUNTY CoC SOUTH PIKE AREA CoC
LELAND CoC Newton, MS 39345 410 Poplar Ave., Ste. 101/P.O. Box 51 180 S. Cherry St.
P.O. Box 67 601-683-2201 Philadelphia, MS 39350 Magnolia, MS 39652
Leland, MS 38756 601-656-1742 601-783-5267
662-686-2687 NOXUBEE COUNTY CoC
503 S. Washington St./P.O. Box 308 PICAYUNE CoC STARKVILLE CoC
LONG BEACH CoC Macon, MS 39341 201 Hwy. 11 N. 322 University Dr.
11975 E. Seaway Rd. 662-726-4456 Picayune, MS 39466 Starkville, MS 39759
Gulfport, MS 39503 601-798-3122 662-323-5783
228-604-0014 OCEAN SPRINGS CoC
1000 Washington Ave. PIKE COUNTY COC & ECONOMIC STONE COUNTY ECONOMIC
LOUISVILLE-WINSTON COUNTY CoC Ocean Springs, MS 39564 DEVELOPMENT DISTRICT DEVELOPMENT PARTNERSHIP
311 W. Park St./P.O. Box 551 228-875-4424 120 N. Railroad Blvd./P.O. Box 83 115 Hatten Ave. E.
Louisville, MS 39339 McComb, MS 39648 Wiggins, MS 39577
662-773-3921 OKOLONA CoC 601-684-2291 601-928-5418
219 Main St./P.O. Box 446
MADISON CITY CoC Okolona, MS 38860 PONTOTOC COUNTY CoC TATE COUNTY CoC
2023 Main St./P.O. Box 544 662-447-5913 81 S. Main/P.O. Box 530 105 B Center St.
Madison, MS 39130 Pontotoc, MS 38863 Senatobia, MS 38668
601-856-7060 OLIVE BRANCH CoC 662-489-5042 662-562-8715
6820 Cockrum St./P.O. Box 608
MADISON COUNTY CoC Olive Branch, MS 38654 POPLARVILLE CoC TUNICA COUNTY CHAMBER
618 Crescent Blvd., Ste. 101 662-895-2600 P.O. Box 367 1371 Main St./P.O. Box 2000
Ridgeland, MS 39157 Poplarville, MS 39470 Tunica, MS 38676
601-605-2554 601-795-0578 662-363-2865
46 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
O T H E R A SSISTANCE
EXPORT IMPORT BANK COUNCIL OF BETTER BUSINESS BUREAUS, DIVISION OF ENFORCEMENT
TUPELO COMMUNITY DEVELOPMENT 811 Vermont Ave. N.W. INC. Federal Trade Commission
FOUNDATION Washington, D.C. 20571 1411 K St., N.W., 10th Fl. 600 Pennsylvania Ave. N.W.
P.O. Box A 202-565-3200 • 202-565-3210 Fax Washington, DC 20005-3404 Washington, DC 20580
Tupelo, MS 38802 www.bbb.org 202-326-2222 • 202-326-3197 Fax
662-842-4521 FOREIGN TRADE ZONES www.ftc.gov/bcp/rn
www.foreign-trade-zone.com CHIEF POSTAL INSPECTOR To receive a 5-digit Registration Number
UNION CoC ISOSG (RN) for labels for textile manufacturing.
400 Bank St. MISSISSIPPI STATE PORT AUTHORITY 222 S. Riverdale Plaza, Ste. 1250
Union, MS 39365 2510 14th St., Ste. 1450/P.O. Box 40 Chicago, IL 60606 FOR COMPANIES TO QUALIFY TO ACCEPT
601-774-9586 Gulfport, MS 39501 www.usps.com/websites/depart/inspect CREDIT CARDS CONTACT:
228-865-4300 or 877-881-4367 Visa/Mastercard - Bank of Account
VERONA CoC www.shipmspa.com DRUG FREE WORKPLACE American Express
194 Main St./P.O. Box 416 www.drugfreeworkplace.com 800-445-2639
Verona, MS 38879 MISSISSIPPI TECHNOLOGY ALLIANCE Discover Card
662-566-2211 134 Market Ridge Dr. MISSISSIPPI CONTRACTOR LICENSING 800-347-6673
Ridgeland, MS 39157 BOARD
VICKSBURG-WARREN COUNTY CoC 601-960-3625 215 Woodline Dr., Ste. B FOR AMERICAN WITH DISABILITIES
P.O. Box 709 www.technologyalliance.ms Jackson, MS 39208 ACT DOCUMENTS AND GENERAL
Vicksburg, MS 39181 601-354-6161 INFORMATION
601-636-1012 Other Resources www.msboc.us/ 800-514-0301 or 800-514-0383
(or for TDD access, use your local relay
WALTHALL COUNTY CoC CONSUMER RESPONSE CENTER MISSISSIPPI STATE DEPARTMENT OF service)
P.O. Box 227 Federal Trade Commission HEALTH www.ada.gov
Tylertown, MS 39667 Consumer Response Center 570 E. Woodrow Wilson Dr.
601-876-2680 600 Pennsylvania Ave. N.W., Rm. H-130 Jackson, MS 39216
Washington, DC 20580 601-576-7400
WATER VALLEY CoC AND 202-382-4357 • 202-362-2012 Fax
206 Main/P.O. Box 726
Water Valley, MS 38965
WAYNE COUNTY CoC
P.O. Box 864
Waynesboro, MS 39367
YAZOO COUNTY CoC
P.O. Box 172
Yazoo City, MS 39194
Other Sources of
U.S. EXPORT ASSISTANCE CENTER
Sandro Murtas, Regional Manager
New Orleans U.S. Export Assistance
423 Canal St., Ste. 419
New Orleans, LA 70130
504-756-5353 • 202-481-2966 Fax
EXPORT LEGAL ASSISTANCE
Get the answers to your export legal
questions from the Export Legal
Assistance Network (ELAN). Exports
can mean big profits for a small
business. But when you’re just starting
out, tariffs, regulatory requirements,
distributorship agreements and
other legal matters can be a little
intimidating. The Export Legal
Assistance Network program can help
you over these first hurdles.
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 47
S BA LEN D ER S
Participating BANK OF YAZOO CITY CHARTER BANK COMMUNITY BANK DESOTO COUNTY BANK
P.O. Box 600 1511 Jackson Ave. P.O. Box 250 6040 Hwy. 51
Lenders Yazoo City, MS 39194 Pascagoula, MS 39567 Ellisville, MS 39437 Horn Lake, MS 38637
SBA TOP LENDERS
662-746-5421 • 662-751-1057 F 228-762-3330 • 228-762-3337 F 601-477-9361 • 601-477-2656 F 662-393-3977 • 662-393-3177 F
AMERICAN EXPRESS CENTURION
BANK BANKPLUS CITIZENS BANK COMMUNITY BANK DRYADES SAVINGS BANK
4315 S. 2700 W. 202 East Jackson St. 102 W. Main St. P.O. Box 59 233 Carondelet St.
Salt Lake City, UT 84184 Belzoni, MS 39038 Seminary, MS 39479 Forest, MS 39074 New Orleans, LA 70130
801-945-6571 • 866-305-2042 F 662-247-1811 • 662-247-3313 F 601-722-6080 • 601-722-6083 F 601-469-1611 • 601-469-2201 F 504-598-7200 • 504-598-7293 F
BANCFIRST BANKPLUS CITIZENS BANK COMMUNITY BANK ENTERPRISE CORP. OF THE DELTA
101 N Broadway, Ste. 1050 1068 Highland Colony Pkwy. P.O. Box 667 1255 W. Government St. 222 N. President St., Ste. 200
Oklahoma City, OK 73102 400 Concourse, Ste. 100 Byhalia, MS 38611 Brandon, MS 39042 Jackson, MS 39201
405-270-4736 or 888-313-2722 Ridgeland, MS 39157 662-838-2146 • 662-838-5121 F 601-706-0130 • 601-825-3940 F 601-944-1100 • 601-944-0808 F
601-898-8300 • 601-898-2873 F
BANCO POPULAR, NORTH CITIZENS BANK COMMUNITY BANK EXCEL NATIONAL BANK
AMERICA BANKPLUS P.O. Box 232 P.O. Box 265 9701 Wilshire Blvd.
7 West 51st St. P.O. Box 1061 Columbia, MS 39429 Laurel, MS 39441 Beverly Hills, CA 90212
New York City, NY 10019 Picayune, MS 39466 601-736-2601 • 601-736-8529 F 601-649-5770 • 601-649-3215 F 310-550-0630
212-246-4900 601-798-8300 • 601-798-4955 F
CITIZENS BANK & SAVINGS COMMUNITY BANK, DESOTO FARM CREDIT BANK OF TEXAS
BANCORPSOUTH BANK BANKPLUS 110 Alcorn Dr. COUNTY P.O. Box 15919
P.O. Drawer 789 P.O. Box 512 Corinth, MS 38834 P.O. Box 129 Austin, TX 78761
Tupelo, MS 38802 Poplarville, MS 39740 662-287-1945 • 662-287-1505 F Southaven, MS 38671 512-465-0400 • 512-465-0234 F
662-680-2345 • 662-680-2317 F 601-795-2271 • 601-795-8710 F 662-280-9700 • 662-349-4770 F
CITIZENS BANK & SAVINGS FARMERS & MERCHANTS
BANKFIRST FINANCIAL SERVICES BIZ CAPITAL 10150 County Rd. 200 COMMUNITY BANK OF MS P.O. Box 847
P.O. Box 31 P.O. Box 3322 Faulkner, MS 38629 2441 Old Brandon Rd. Booneville, MS 38829
Macon, MS 39341 Jackson, MS 39207 662-837-9394 • 662-837-9397 F Pearl, MS 39208 662-720-4580 • 662-720-4577 F
662-726-5192 • 662-726-2449 F 800-537-5761 601-825-4323 • 601-825-3940 F
CITIZENS BANK TRI-CITIES FELICIANA BANK & TRUST
BANKFIRST FINANCIAL SERVICE BRANCH BANKING AND TRUST P.O. Box 1900 COMMUNITY BANK, MERIDIAN P.O. Box 247
P.O. Box 520 CO. Elizabethton, TN 37644 301 22nd Ave. Clinton, LA 70722
Kosciusko, MS 39090 200 W. 2nd St. 423-543-2265 • 423-547-8424 F Meridian, MS 39301 225-683-8568 • 225-683-8568 F
662-289-5121 • 662-289-7753 F Winston Salem, NC 27101 601-693-0200 • 601-693-6582 F
888-562-6228 CITIZENS BANK & TRUST FIRST CARTHAGE FINANCE
BANK OF AMERICA P.O. Box 948 COMMUNITY BANK, NORTH MS 107 S. Pearl St.
10850 White Rock Rd. BRITTON & KOONTZ Louisville, MS 39339 147 Hwy. 82 E. Carthage, MS 39051
Rancho Cordova, CA 95670 P.O. Box 1407 662-773-6261 • 662-773-4984 F Indianola, MS 38751 601-267-8355
916-861-6729 • 916-861-6779 F Natchez, MS 39120 662-887-4513 • 662-887-4894 F
601-445-5576 • 601-446-6124 F CITIZENS BANK, THE FIRST COMMERCIAL BANK
BANK OF FOREST P.O. Box 209 COMMUNITY SOUTH BANK 1300 Meadowbrook Rd.
P.O. Box 60 BUSINESS LENDERS, LLC Philadelphia, MS 39350 51 W. Main St. Jackson, MS 39211
Forest, MS 39074 50 State House Square 601-656-4692 • 601-656-4183 F Parsons, TN 38363 601-709-7777 • 601-366-8733 F
601-469-3663 • 601-469-1432 F Hartford, CT 06103 731-847-6316
860-244-9202 CITIZENS NATIONAL BANK, THE FIRST COMMERCIAL BANK OF
BANK OF FRANKLIN P.O. Box 911 COMMUNITY WEST BANK, N.A. THE PINE BELT
P.O. Box 606 BUSINESS LENDERS, LLC Meridian, MS 39301 5827 Hollister Ave. 1945 Hwy. 15 N.
Meadville, MS 39653 15 Lewis St. 601-693-1331 • 601-482-5855 F Goleta, CA 93117 Laurel, MS 39440
601-384-2305 • 601-384-2300 F Hartford, CT 06103 805-683-4944 601-425-4000 • 601-426-6022 F
860-244-9202 • 860-241-6018 F CITIZENS STATE BANK
BANK OF KILMICHAEL P.O. Box 590 COMPASS BANK FIRST FEDERAL BANK
120 North Depot Ave. CARTHAGE BANK Morton, MS 39117 17218 Boston Rd. P.O. Box 268
Kilmichael, MS 39747 P.O. Box 437 601-732-6106 • 601-732-8802 F Dallas, TX 75252 Columbia, MS 39429
662-262-7844 • 662-262-7932 F Carthage, MS 39051 972-735-3540 • 972-735-3598 F 601-736-6378 • 601-736-2108 F
601-267-7311 • 601-267-5217 F COAST COMMUNITY BANK
BANK OF NEW ALBANY P.O. Box 1227 CONCORDIA BANK & TRUST FIRST FINANCIAL BANK
P.O. Drawer 811 CENTRAL MS DEVELOPMENT CO. Biloxi, MS 39533 P.O. Box 518 P.O. Box 597
New Albany, MS 38652 P.O. Box 4935 228-374-7755 • 228-374-7750 F Vidalia, LA 71373 Carthage, MS 39051
662-534-8171 • 662-534-6702 F Jackson, MS 39296 318-336-5258 • 318-336-7673 F 601-267-0095 • 601-267-0039 F
601-981-1625 • 601-981-1515 F COLONIAL BANK
BANK OF OKOLONA P.O. Box 1108 COPIAH BANK FIRST FINANCIAL BANK
227 West Main St. CENTURY BANK Montgomery, AL 36101 P.O. Box 31 P.O. Box 1754
Okolona, MS 38860 P.O. Box 647 334-578-1612 • 334-954-1291 F Hazlehurst, MS 39083 El Dorado, AK 71731
662-447-5403 • 662-447-5255 F Lucedale, MS 39452 601-894-2831 • 601-894-3934 F 870-863-7000 • 870-881-5394 F
601-947-7511 • 601-947-1762 F COMERICA BANK
BANK OF WIGGINS 1900 W. Loop S., Ste. 220 COVINGTON COUNTY BANK FIRST GULF BANK
109 W. Pine Ave. CHARTER BANK Houston, TX 77027 Drawer 1599 901 N. McKenzie St.
Wiggins, MS 39577 1721 Medical Park Dr., Ste. 103 713-888-2667 • 713-993-0498 F Collins, MS 39428 Foley, AL 36535
601-928-5233 • 601-928-9217 F Biloxi, MS 39532 601-765-6551 • 601-765-0312 F 334-943-3000 • 334-943-3149 F
228-392-2330 • 228-392-2740 F
48 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
S BA LEN D ER S
FIRST NATIONAL BANK OF GULF COAST BANK AND TRUST M&F BANK PEOPLES BANK SENATOBIA BANK
LUCEDALE COMPANY 411 Hwy. 80 P.O. Box 7 P.O. Box 96
5110 Main St. 200 St. Charles Ave. Clinton, MS 39056 Mendenhall, MS 39114 Senatobia, MS 38668
SBA TOP LENDERS
Lucedale, MS 39452 New Orleans, LA 70130 601-924-8389 • 662-289-5121 F 601-847-2210 • 601-847-1414 F 662-562-8201 • 662-562-9451 F
601-947-8111 • 601-947-8103 F 504-412-2029
M&F BANK PEOPLES BANK SINGING RIVER FEDERAL CREDIT
FIRST NATIONAL BANK OF HANCOCK BANK 6543 Goodman Rd. OF FRANKLIN COUNTY UNION
PICAYUNE 2510 14th St. Olive Branch, MS 38654 P.O. Box 70 6006 Hwy. 63
P.O. Box 848 Gulfport, MS 39502 662-890-1599 • 662-289-5121 F Bude, MS 39630 Moss Point, MS 39563
Picayune, MS 39466 228-868-4000 • 228-868-4675 F 601-384-4888 • 601-384-4889 F 228-457-9531
601-798-4726 • 601-798-4796 F MERCHANTS & MARINE BANK
HANCOCK BANK 2802 Bienville Blvd. PEOPLES BANK & TRUST, THE SOURCE CAPITAL
FIRST NATIONAL BANK OF 2007 Lincoln Rd. Ocean Springs, MS 39564 P.O. Box 389 P.O. Box 3435
WIGGINS Hattiesburg, MS 39401 228-872-2800 • 228-872-3788 F Louisville, MS 39339 Baton Rouge, LA 70821
P.O. Box 307 601-579-5841 662-773-3403 • 662-773-8163 F 225-922-7411 • 225-922-7418 F
Wiggins, MS 39577 MERCHANTS & MARINE BANK
601-928-5241 • 601-928-8300 F HERITAGE BANKING GROUP Hwy. 90 and Ladnier Rd. PIKE COUNTY NATIONAL BANK SOUTHERN BANCORP BANK
114 S. Pearl St. Gautier, MS 39553 P.O. Box 1666 117 W Floyce
FIRST SECURITY BANK Carthage, MS 39051 228-762-3311 • 228-497-5087 F McComb, MS 39648 Ruleville, MS 38771
P.O. Box 690 601-267-7311 • 601-267-5217 F 601-684-7575 • 601-684-7113 F 866-372-8080
Batesville, MS 38606 MERCHANTS & MARINE BANK
662-563-9311 • 662-563-9310 F HIBERNIA NATIONAL BANK P.O. Box 729 PLANTERS BANK & TRUST SOUTHERN NATIONAL BANK
P.O. Box 231 Pascagoula, MS 39568 P.O. Box 31 125 W. College Ave.
FIRST STATE BANK Tallulah, LA 71284 228-762-3311 • 228-762-3613 F Indianola, MS 38751 Wiggins, MS 39577
P.O. Box 10 318-329-2768 • 318-574-3940 F 662-887-3363 • 662-887-6789 F 601-928-7295 • 601-928-2387 F
Leakesville, MS 39451 MERCHANTS & PLANTERS
601-394-2321 • 601-394-2314 F HOLMES COUNTY BANK & 133 Hwy. 80 E. PRIORITYONE BANK STATE BANK AND TRUST
TRUST Clinton, MS 39056 P.O. Box 516 COMPANY
FIRST STATE BANK P.O. Box 642 601-924-9557 • 601-924-9377 F Magee, MS 39111 P.O. Box 8287
P.O. Box 506 Lexington, MS 39095 601-849-3311 • 601-849-6439 F Greenwood, MS 38935
Waynesboro, MS 39367 662-834-2311 • 662-834-2189 F MERCHANTS & PLANTERS 662-453-6811 • 662-453-4784 F
601-735-1752 • 601-671-0096 F P.O. Box 699 PROGRESSIVE BANK
HOPE COMMUNITY CREDIT Raymond, MS 39154 P.O. Box 1000 STATE BANK & TRUST
FIRST STATE BANK UNION 601-857-8044 • 601-857-8855 F Winnsboro, LA 71295 P.O. Box 54192
P.O. Box 148 4 Old River Place, Ste. A 318-435-7581 • 318-435-3922 F Jackson, MS 39288
Lucedale, MS 39452 Jackson, MS 39202 NATIONAL BANK OF 601-933-0044 • 601-420-0293 F
601-947-9381 • 601-766-9584 F 601-944-4178 • 601-944-0808 F COMMERCE REGIONS BANK
P.O. Box 1187 147 Jefferson St. STATE BANK & TRUST
FIRST UNION SMALL BUSINESS IMPERIAL BANK Starkville, MS 39759 Memphis, TN 38103 199 E. Sunflower Rd.
CAPITAL 920 Volunteer Landing Ln., 662-323-1341 • 662-324-4790 F 800-734-4667 • 901-526-8470 F Cleveland, MS 38732
707 3rd St. Ste. 201 662-843-8133 • 662-843-8135 F
W. Sacramento, CA 95605 Knoxville, TN 37915 NATIONAL BANK OF REGIONS BANK
800-523-0035 or 800-603-1861 865-329-5205 • 865-329-5253 F COMMERCE 660 Peachtree Dunwoody Rd., SUPERIOR FINANCIAL GROUP,
415 Main St. 400 Embassy Row, Ste. 210 LLC
FSB FIRST TENNESSEE BANK, INSOUTH BANK Brooksville, MS 39739 Atlanta, GA 30328 165 Lennon Ln., Ste. 101
N.A. 6141 Walnut Grove Rd. 662-738-5521 • 662-739-4169 F 770-392-6560 • 770-392-7062 F Walnut Creek, CA 94598
165 Madison Ave. Memphis, TN 38120 877-675-0500
Memphis, TN 38103 901-747-5555 • 901-747-5580 F NEWCOURT SMALL BUSINESS REGIONS BANK
888-382-8998 • 901-257-6062 F LENDING CORP. 250 River Chase Pkwy. E. THE FIRST
JEFFERSON BANK, THE 3710 Rue Mignon Birmingham, AL 35244 2702 Lincoln Rd.
G.E. CAPITAL SMALL BUS. P.O. Box 277 New Orleans, LA 70131 205-560-3344 • 205-560-5152 F Hattiesburg, MS 39402
FINANCE CORP. Fayette, MS 39069 504-398-0288 • 504-398-0255 F 601-264-9960 • 601-264-9557 F
635 Maryville Centre Dr., Ste. 120 601-786-3191 • 601-786-6380 F REGIONS BANK
St. Louis, MO 63141 NEWTEK SMALL BUSINESS 1015 Cowan Rd. THE PEOPLES BANK
314-205-3500 • 314-205-3691 F JPMORGAN CHASE BANK, FINANCE Gulfport, MS 39507 152 Lameuse St.
NATIONAL ASSOCIATION 462 7th Ave., 14th Fl. 228-897-7805 • 228-897-7820 F Biloxi, MS 39530
GREAT SOUTHERN NATIONAL 811 Rusk St., 16th Fl. New York, NY 10018 228-435-5511 • 228-435-8417 F
BANK Houston, TX 212-356-9510 • 212-643-0340 F RENASANT BANK
P.O. Box 1799 800-242-7338 796 W Poplar Ave. THE VINE STREET FINANCIAL
Hattiesburg, MS 39403 OMNIBANK Collierville, TN 38017 5901-C Peachtree Dunwoody Rd.
601-545-2700 • 601-545-5446 F LIBERTY BANK & TRUST P.O. Box 22624 901-850-2701 Atlanta, GA 30328
COMPANY Jackson, MS 39225 770-551-8822 • 770-551-8781 F
GREAT SOUTHERN NATIONAL
P.O. Box 23518 601-355-1000 • 601-949-5577 F RICHTON BANK & TRUST
BANK OF WAYNESBORO
Jackson, MS 39225 COMPANY THREE RIVERS LOCAL
P.O. Box 620
601-355-3300 • 601-949-7996 F PEOPLES BANK P.O. Box 527 DEVELOPMENT
Waynesboro, MS 39367
611 5th Ave. Richton, MS 39476 P.O. Box 690
601-735-4391 • 601-735-4393 F
MADISON COUNTY BANK Magee, MS 39111 601-788-6301 • 601-788-5822 F Pontotoc, MS 38863
171 Cobblestone Dr. 601-849-2210 • 601-849-2159 F 662-489-2435 • 662-489-6815 F
GUARANTY BANK & TRUST
Madison, MS 39110
210 Hayden St.
601-898-9890 • 601-607-3206 F
Belzoni, MS 39038
662-247-1454 • 662-247-3156 F
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 49
S BA LEN D ER S
TRUSTMARK NATIONAL BANK UNITED MISSISSIPPI BANK WELLS FARGO WELLS FARGO BANK, NATIONAL * Denotes PLP Lender
106 W. Government St. P.O. Box 670 696 Lake Crest Dr. ASSOCIATION
Brandon, MS 39211 Natchez, MS 39121 Hoover, AL 35226 101 N. Philips Ave.
SBA TOP LENDERS
601-825-1854 • 601-825-1837 F 601-445-7000 • 601-445-7136 F 205-733-7111 Sioux Falls, SD
TRUSTMARK NATIONAL BANK WACHOVIA SBA LENDING, INC. WELLS FARGO WHITNEY NATIONAL BANK
201 Country Place Dr., Ste. A 1620 E. Roseville Pkwy. 61 St. Joseph St. P.O. Box 1420
Pearl, MS 39208 Roseville, CA 95661 Mobile AL 36602 Gulfport, MS 39501
601-208-7391 • 601-208-7394 F 916-787-9301 • 916-787-9533 F 251-490-1730 228-864-7332 • 228-864-7974 F
Introduction to United States, including, but not limited to, trade and
Small Business Week professional associations and business organizations,
Each year since 1963, the President of the United may submit nominations for Small Business Person
States has designed a week as National Small of the Year, Champions of the Year and special Small
Business Week in recognition of the small business Business Week awards.
community’s contributions to the American economy For further information regarding nominations
and society. for Federal Government Small Business Prime
The U.S. Small Business Administration, in Contractor and Subcontractor of the Year contact
partnership with public- and private-sector small the nearest district office of the U.S. Small Business
business supporters, each year sponsors special Administration.
activities honoring the nation’s entrepreneurs at the Nominations must be typewritten on 8 1/2” x 11”
local, state and national levels. white paper on one side only. All materials must be
The presentation of the prestigious awards collated and secured in a 1 1/2” binder and submitted
highlights Small Business Week activities. At the to the nearest district office of the U.S. Small Business
district,* state and national levels, these awards Administration postmarked or hand-delivered no
spotlight the outstanding contributions of small later than Friday, November 9, 2012. From these
business persons, champions, ex-porters and young nominations, winners will be selected for the year
entrepreneurs, as well as those who have developed 2013.
their small businesses into large ones. At the
regional and national levels, awards also highlight Awards and Selection
the contributions of outstanding small business Small Business Persons of the Year, Champions of
prime contractors and subcontractors for the federal the Year and special award winners will be selected
government. at the state and national levels. In those states served
Small Business Person of the Year winners from by more than one SBA district office, awards will also
all 50 states, the District of Columbia, Puerto Rico, be presented at the district level. Winners at each
Guam and the U.S. Virgin Islands, as well as national level will be considered for awards at the next highest
winners in the advocate and special award categories level.
and regional and national government contracting Nomination packages for each state winner will
award winners, are invited to Washington, D.C., during be sent to regional SBA offices and prepared for
Small Business Week for a series of special events in transmittal to the SBA Office of Advisory Councils
their honor. A national Small Business Person of the for review. The National Small Business Person of the
Year is selected from among the state award winners Year will be selected by the SBA administrator based
and recognized during the celebration in the nation’s on the recommendations of the National Advisory
capital. Council, and will be announced during Small Business
*District-level awards are presented only in those Week.
states served by more than one SBA district office. For more information contact the Mississippi
District Office or the Gulfport Branch Office.
Any individual or organization dedicated to the
support of the small business community in the
50 — Small Business Resource MISSISSIPPI Visit us online: www.sba.gov/ms
2011 Small Business Week Award Winner
John Calhoun municipalities; and has acquired and executed contracts
throughout the United States. While participating in the
Recipient of Mississippi 8(a) program, IMS garnered several contracts, from an 8(a)
2011 Small Business Person Set-Aside IDIQ Construction Contract valued at $281K to
of the Year Award a $20 million Small Business Set-Aside Contract for Debris
Monitoring and Quality Assurance Services in the aftermath
JACKSON, MS – How does one go of Hurricane Katrina.
from meager beginnings to being
CEO of a multi-million dollar firm Calhoun is a product of the Jackson Public Schools and
and named as a Champion for received his Bachelor’s and Master’s degrees from Memphis
Change by the White House? State University. He received an MBA from Jackson State
University - and a Ph.D. from the University of Mississippi.
The story of John Calhoun, Chief Executive Officer of
Integrated Management Services (IMS) located in Jackson, Through his 8(a) certification, SBA sponsored his comple-
Mississippi, is that of the classic entrepreneur overcom- tion of post-doctoral executive education studies at the Tuck
ing hardship through intellect and a strong work ethic. His School of Business at Dartmouth, the Center for Closely Held
entrepreneurial drive began early when he, at the age of 12, Firms of the Sellinger School of Loyola University, and at the
mowed lawns with his older brothers for their business. University of Texas at El Paso.
In February 1996, he and partner Rod Hill founded IMS, a U. The Mississippi U.S. Small Business Administration selected
S. Small Business Administration 8(a) certified full-service Calhoun as its 2011 Small Business Person of the Year. He
consulting, engineering, emergency response, manage- received his award during the Mississippi SBA’s Small Busi-
ment and operations firm helping public and private clients ness Award Reception in Jackson, MS on June 14, 2011. He
improve the environment and infrastructure. was judged on his company’s staying power, growth in
number of employees, increase in sales and/or unit volume,
However, he was no overnight success story. Prior to starting current and past financial reports, innovations of product or
IMS, he and Rod had two businesses that – in their words service, response to adversity and contributions to aid the
– “failed miserably”. They learned from the obstacles and community.
stumbling blocks and successfully started IMS Engineers
Calhoun was also one of 11 individuals recognized in 2011 by
Since its inception, the firm has grown from a two person the White House as a “Champion of Change” for his efforts
staff to more than three hundred and the multi-million toward creating jobs in his community and using innova-
dollar operation is one of the largest minority-owned tive techniques to develop valuable projects that improve
engineering firms in the nation. “Our number one goal is to America’s infrastructure.
provide the best services possible - every opportunity they
get,” said Calhoun. For information regarding SBA’s 8(a) and other certification
programs, contact the Mississippi District Office at (601)
In 2006, IMS was named to the prestigious Inc. 500 list as 965-4378, Gulfport Branch Office at (228) 863-4449 or visit
one of America’s fastest growing companies for the fourth our website at www.sba.gov/ms.
straight year. That year, IMS ranked 449th in the nation with
a 3-year sales growth of 330.1%. IMS was also named to
Small Business Person
the 2007 Inc. 5000, the first ever list of the 5,000 fastest-
growing businesses in the country with a rank of 833rd and IMS Engineers
a three-year sales growth of 414.1%. Lastly, IMS was ranked John D. Calhoun, Ph.D, Chief Executive Officer
30th on the 2008 Inner City 100 Award for the fastest grow- 126 East Amite Street
ing inner-city businesses in the U.S. for the fourth straight Jackson, MS 39201
year. Ph.: (601) 968-9194
“IMS Engineers is a Small Business Program 8(a) graduate
and holds multiple MBE certifications with state and local
Visit us online: www.sba.gov/ms MISSISSIPPI Small Business Resource — 51