Bancorpsouth establishes $500m business loan fund - - Jackson, MS

Bancorpsouth establishes $500m business loan fund

JACKSON, MS (Mississippi News Now) -

Bancorpsouth is reaching out to the business community by creating a $500 million dollar loan fund to grow Mississippi. The announcement was made Friday morning by Bancorpsouth and Governor Phil Bryant.

The financial institution is putting up the loan pool in a private/public partnership with the state of Mississippi. The idea is to help grow more business opportunities and jobs by providing access to capital funding.

"It enables us to enlarge out ability to the types of banks we will be able to serve throughout the state and those that are looking at our state because we will have two different entities that will be looking for those opportunities," said Mississippi Development Authority Executive Director Brent Christensen.

Potential candidates for the loans will be identified through the Mississippi Development Authority and Bancorpsouth's community banks.

Businesses and entrepreneurs who want more information should go to the BancorpSouth website.

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