Mississippi Administrative Code

Principal and interest payments will be due on a monthly basis, with a fixed amount to be paid over the life of the loan. Notes 6 Miss. Code. R. 1-3.6 Miss. Code Ann. § 57-93-1 (Rev. 2008)

Each loan will be secured by a lien to provide adequate security for MDA to recover its investment in case of default on the loan. Liens may be in the form of personal guarantees, liens on the equipment installed or a security interest in other assets. It should be noted MDA will…

The application to be submitted by a company must include: A. The purpose of the proposed loan including a list of eligible items and the cost of each; B. Documentation on how the financing of the Fixed Assets will improve productivity and competitiveness; C. The estimated cost o…

The applications submitted by a local government entity must include the same information for the company that would be submitted if the company applied plus the following: A. Certified proof of publication of the Resolution of Intention of the government entity to apply for an E…

The Agribusiness Enterprise Loan Program (ABE), to be administered by the Mississippi Development Authority (MDA), is a loan program designed to encourage the extension of conventional financing and the issuance of letters of credit, by private institutions, to agribusiness enter…

No loan proceeds shall be used to pay off any existing debt for loan consolidation purposes; to finance acquisition, construction, improvement, or operation of real property which is primarily for sale or investment; to provide or free funds for speculation in any kind of propert…

The amount of a loan to any single agribusiness shall not exceed twenty percent (20%) of the total cost of the project or $200,000, whichever is less. Upgrades for the retrofitting of poultry houses shall not exceed thirty percent (30%) of the total cost of the project or $200,00…

No interest will be charged on an ABE Loan. Only the amount actually loaned to an agribusiness shall be required to be repaid to the State. Notes 6 Miss. Code. R. 1-4.12 Miss. Code Ann. § 69-2-13 (Rev. 2005) (as amended in HB 1148).

The term of the ABE Loan shall match the term of the Lender's loan, up to the maximum maturity of fifteen (15) years. Notes 6 Miss. Code. R. 1-4.13 Miss. Code Ann. § 69-2-13 (Rev. 2005) (as amended in HB 1148).

Disbursements of ABE funds will be made to Lenders on behalf of borrowers after project construction is completed. Requests for payment must be submitted on the MDA Request for Payment Form, which will be provided by MDA. Notes 6 Miss. Code. R. 1-4.14 Miss. Code Ann. § 69-2-13 (R…

All repayments of ABE funds to MD A shall match the repayments of the borrower to the Lender and shall be submitted upon the terms stated in the Lender's Authorization forms. A. If a Lender collects payments on more than one ABE Loan, MDA will allow a lump sum payment on all outs…

ABE Loans are subject to an agreement, providing that any and all outstanding obligations may be accelerated and payments called for if, during the term of the loan, any change of ownership or control of the agribusiness concern occurs without the prior written consent of MDA, or…

The Lender shall notify MDA in writing of any prepayments of the Lender's loan. If the Lender's loan is to be paid in full, the MDA portion of the loan must be paid off first. MDA and the Lender must determine the application of partial payments. Notes 6 Miss. Code. R. 1-4.17 Mis…

The Lender's Loan and Note is prohibited from being sold, assigned, conveyed, subparticipated, subdivided, encumbered or otherwise transferred. Notes 6 Miss. Code. R. 1-4.18 Miss. Code Ann. § 69-2-13 (Rev. 2005) (as amended in HB 1148).

MDA will consider any loan that has become delinquent, in amount equal to the required annual payment, to be in default. Notes 6 Miss. Code. R. 1-4.19 Miss. Code Ann. § 69-2-13 (Rev. 2005) (as amended in HB 1148).

A. Agribusiness means any aqua cultural, horticultural, greenhouse production or agricultural related industrial, manufacturing, research and development or processing enterprise located in the State and owned by a resident of the State. The agribusiness must be creditworthy and …

Each Agribusiness Enterprise Loan (ABE Loan) must be 100% guaranteed to MDA by an eligible Lender. Notes 6 Miss. Code. R. 1-4.3 Miss. Code Ann. § 69-2-13 (Rev. 2005) (as amended in HB 1148).

An eligible Lender must originate the ABE Loan application for an agribusiness. Notes 6 Miss. Code. R. 1-4.4 Miss. Code Ann. § 69-2-13 (Rev. 2005) (as amended in HB 1148).

The Lender must provide MDA with a Servicing Agreement Letter to be accepted upon approval of the ABE Loan. Notes 6 Miss. Code. R. 1-4.5 Miss. Code Ann. § 69-2-13 (Rev. 2005) (as amended in HB 1148).

The Lender must provide, in writing, all required information for the preparation of ABE Loan closing documents. All closing documents must be properly executed and returned to MDA immediately. All exhibits to the closing documents must be filed and copies sent to MDA no later th…

The Lender may charge an agribusiness a servicing fee, which may not exceed one percent (1%) of the ABE Loan amount. The fee will be a one time charge collected when the ABE Loan is closed. The fee may be paid directly by the agribusiness, deducted from the ABE Loan proceeds, or …

ABE Loan proceeds may be used to finance buildings and equipment and for costs associated with the purchase of land (appraisals, title searches, etc.). However, proceeds cannot be used to purchase land. ABE funds to new or existing poultry farms for the construction of new or add…

The following terms, conditions and requirements must be satisfied by the terms of each poultry farm loan for the construction of new or additional poultry houses for said loan to be eligible for participation in this ABE program: A. All live birds must be weighted by a bonded we…

The Mississippi Development Authority (MDA) Workforce Training Fund was established by the State Legislature during the Second Extraordinary Session in 2010. The purpose of the MDA Workforce Training Funds is to provide workforce training through state institutions of higher lear…

A Grant Agreement will be executed between the Training Provider and MDA. The Grant Agreement cannot be executed until all required conditions in these guidelines of the application are met and all documentation is received. Notes 6 Miss. Code. R. 1-5.10 Miss. Code Ann. § 57-1-40…

MDA will release Workforce Training funds on a reimbursement basis for approved eligible costs of the project as incurred. Funds will be released upon receipt of the Workforce Training Reimbursement Requisition and supporting documentation from the Training Provider. Funds may no…

MDA may monitor all projects to ensure compliance with the original application and the Grant Agreement. Funds provided under MDA Workforce Training Funds are subject to audit by the State Department of Audit. Notes 6 Miss. Code. R. 1-5.12 Miss. Code Ann. § 57-1-401 (Rev. 2008)…

The State Workforce Investment Board (SWIB) has created a centralized location for workforce and economic information of the state. The SWIB Data Center provides access to high-quality, timely, and relevant information that supports everyday decision making and strategic planning…

These guidelines may be amended by MDA at any time. MDA, at its discretion, may waive any requirement of the guidelines to the extent that the result of such waiver is to promote the public purpose of the Act and is not prohibited by State law. Notes 6 Miss. Code. R. 1-5.14 Miss.…

Applications for assistance must be submitted by a state institution of higher learning, a public community or junior college, or the administrative entity for a Workforce Investment Area on behalf of a Workforce Investment Network (WIN) Job Center (Training Providers). Notes 6 M…

A. Existing - For-profit businesses that have been in operation for a minimum of one year prior to the application date, are current on all federal and state tax obligations, and are financially viable are eligible to apply. B. New - For-profit businesses that have been in operat…

Eligible projects must meet critical training needs of a specific business (Requesting Business) to train new or existing employees in skills necessary for the operation of the business. MDA Workforce Training funds should be used to maximize existing training resources available…

MDA Workforce Training Funds may not be used to provide the following: A. Proprietary management training packages such as DDI, VitalEdu, Achieveglobal, Plexus, ISO-9000, QS-9000, ISO-14000-01, Zig Ziglar, Phi Theat Kappa Leadership, and Stephen Covey; and B. Training to a gaming…

The following types of training may be funded: A. Occupational skills training designed to meet the special requirements of a business or a group of businesses and conducted with employer commitment to continue to retain all trained individuals upon successful completion of the t…

A. Any business or industry desiring additional training assistance from a state institution of higher learning, a public community or junior college, or the administrative entity for a Workforce Investment Area on behalf of a Workforce Investment Network (WIN) Job Center, hereaf…

The maximum amount for MDA Workforce Training Funds that may be provided for any one project is $100,000. Notes 6 Miss. Code. R. 1-5.8 Miss. Code Ann. § 57-1-401 (Rev. 2008)

A. Instructor or trainer salaries or tuition B. Curriculum development C. Textbooks/manuals D. Wage reimbursements: WIN Job Center, on-the-job training, and internships only. Notes 6 Miss. Code. R. 1-5.9 Miss. Code Ann. § 57-1-401 (Rev. 2008)

The Farish Street Historic District Loan Program ("FSLP"), administered by the Mississippi Development Authority ("MDA"), is designed to make grants available to the Central Mississippi Planning and Development District ("CMPDD") for the purpose of making low interest loans to pe…

After a loan closes, CMPDD shall provide evidence to MDA that all collateral and security documents have been filed and perfected, including, but not limited to, adequate hazard insurance, life insurance on the borrower(s) and other insurance such as general liability coverage. N…

CMPDD shall adopt and follow a prudent collection schedule. In the event of a default, CMPDD shall take all necessary and appropriate actions to recover the principal and interest due including enforcing personal guaranties. All defaulted loans shall be reported to appropriate cr…

CMPDD will be required to file a status report with MDA semiannually. These reports will reflect information as of the last day of each semiannual period and will be due by June 15 and December 15 of each year. Notes 6 Miss. Code. R. 1-6.12 Senate Bill 3194, 1999 Regular Session,…

These guidelines may be amended by MDA at any time. MDA, in its discretion, may temporarily waive any requirement of the guidelines to the extent that the result of such waiver is to promote the public c purpose of the Act and is not prohibited by State law. Notes 6 Miss. Code. R…

To be eligible for funding under the program, a person or entity must submit an application provided by the Mississippi Department of Archives and History ("MDAH") along with plans for the proposed project to MDAH for review. MDAH must determine that the proposed project conforms…

FSLP proceeds are limited to the development of commercial and culturally significant property located in the District, to include new building construction and/or the rehabilitation of historic buildings. The proceeds of the loan may be used to pay costs incurred by such person …

FSLP loans are not available under the following circumstances: A. To pay off existing debt for consolidation purposes; B. If the direct or indirect purpose or result would be to pay off creditors of applicants who are inadequately secured or in a position to sustain a loss; C. I…

An individual or business interested in applying for a loan should first contact the City of Jackson ("the City") Department of Planning and Development. The City will provide coordination between the applicant, MDAH, and the Foundation. An opinion regarding the Project shall be …

Upon notification of MDAH's approval, CMPDD shall meet with the prospective borrower to review the Project. If the Project meets the program guidelines and the proposal appears to be economically feasible, a Financial Application will be provided for completion. Notes 6 Miss. Cod…