Mississippi SBA Names BizCapital Top Business Lender
MISSISSIPPI SBA NAMES BIZCAPITAL TOP BUSINESS LENDER
More than 500 new jobs created in 2012
JACKSON, MS, September 9th, 2013 – BizCapital, the small-business lending division of Advantage Capital Partners, was recently named a “Top Lender” of 2012 for dollar volume by the Mississippi District Office of the U.S. Small Business Administration (SBA). BizCapital provided six loans totaling $11.9 million to Mississippi small businesses in 2012, creating 517 jobs. The investments were made in connection with the federal New Markets Tax Credit program and the Mississippi New Markets Development program. Both programs are designed to stimulate economic growth in communities that historically have been underserved by traditional sources of capital.
“The Mississippi New Markets Development program is a crucial tool that enables small businesses in our state to obtain financing despite the challenging financial climate,” said Tommy Titus, vice president of business development, who accepted the award on behalf of BizCapital. “We are very proud of the work BizCapital has done in Mississippi, and are excited to watch these businesses continue to grow and prosper in our state.”
BizCapital and Advantage Capital Partners have been providing loans to small businesses in Mississippi since 2007. To date, more than $68 million has been invested in the state and over 1,000 jobs have been created and retained.
About BizCapital and Advantage Capital Partners
BizCapital (www.biz-capital.com) is Advantage Capital’s non-depository financial institution offering competitive loans to small and medium-sized companies. BizCapital is recognized as a leading government-guaranteed lender, helping small-to-mid-sized businesses grow and prosper, while fostering stronger economic growth in local communities. With offices in Jackson, St. Louis and New Orleans, BizCapital provides funding from $750,000 to $5 million in the form of SBA 7(a) guaranty loans, SBA 504 loans and USDA B&I loans that are used for working capital, business or asset acquisitions and facility expansions, as well as equipment and business real estate purchases.
About the Mississippi New Markets Development program
Enacted in 2007, the Mississippi New Markets Development program encourages investment in promising small businesses located in distressed communities throughout the state. Modeled after the federal New Markets Tax Credit program, the goal of the state program is to attract large, long-term investors to Mississippi’s low-income communities, promoting new expansion, creating new job opportunities and building on existing growth in the state.