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County5th of 75 in Mississippi by approvalsFIPS 28031
SBA loans in Covington County, Mississippi
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA approved 101 loans to businesses in Covington County, Mississippi, in FY2021 to FY2025, worth $27.2M: 101 under 7(a) and 0 under 504.
That is 307.9 approvals per 1,000 business establishments (328 establishments in 2023), above the Mississippi figure of 28.6 and above the national 41.0.
It ranks 5th of 75 Mississippi counties with approvals. In FY2025 there were 6, down 70% on FY2024.
9 lenders had approvals here; the most active were Peoples Bank (56), Covington County Bank (33) and BankPlus (3). The most common industry was cattle ranching and farming.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Covington County
By number of approvals to businesses in the county, FY2021–FY2025; 9 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Peoples BankMendenhall, MS | 56 | $8.8M | 55.4% | |
| 2 | Covington County BankCollins, MS | 33 | $4.7M | 32.7% | |
| 3 | BankPlusBelzoni, MS | 3 | $3.9M | 3.0% | |
| 4 | Southern Bancorp BankArkadelphia, AR | 2 | — | 2.0% | |
| 5 | Renasant BankTupelo, MS | 2 | — | 2.0% | |
| 6 | PriorityOne BankMagee, MS | 2 | — | 2.0% | |
| 7 | BankFirst Financial ServicesColumbus, MS | 1 | — | 1.0% | |
| 8 | Community Bank of MississippiFlowood, MS | 1 | — | 1.0% | |
| 9 | Wells Fargo Bank National AssociationSioux Falls, SD | 1 | — | 1.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Cattle Ranching and FarmingNAICS 1121 | 18 | 17.8% | |
| 2 | Poultry and Egg ProductionNAICS 1123 | 17 | 16.8% | |
| 3 | LoggingNAICS 1133 | 9 | 8.9% | |
| 4 | General Freight TruckingNAICS 4841 | 9 | 8.9% | |
| 5 | Other Specialty Trade ContractorsNAICS 2389 | 6 | 5.9% | |
| 6 | Machinery, Equipment, and Supplies Merchant WholesalersNAICS 4238 | 5 | 5.0% | |
| 7 | Other Motor Vehicle DealersNAICS 4412 | 4 | 4.0% | |
| 8 | Gasoline StationsNAICS 4571 | 4 | 4.0% | |
| 9 | Automotive Parts, Accessories, and Tire StoresNAICS 4413 | 3 | 3.0% | |
| 10 | FloristsNAICS 4593 | 3 | 3.0% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Agriculture, Forestry, Fishing and Hunting | 45 | 44.6% | |
| 2 | Retail Trade | 17 | 16.8% | |
| 3 | Transportation and Warehousing | 10 | 9.9% | |
| 4 | Construction | 8 | 7.9% | |
| 5 | Wholesale Trade | 5 | 5.0% | |
| 6 | Manufacturing | 4 | 4.0% | |
| 7 | Other Services (except Public Administration) | 4 | 4.0% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 2 | 2.0% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 12 | $20.0M | $2.0M | 0 | — | 12 | 32 |
| FY2025 | 6 | $1.2M | $185K | 0 | — | 6 | 37 |
| FY2024 | 20 | $6.8M | $148K | 0 | — | 20 | 127 |
| FY2023 | 23 | $6.1M | $101K | 0 | — | 23 | 293 |
| FY2022 | 24 | $7.6M | $66K | 0 | — | 24 | 168 |
| FY2021 | 28 | $5.5M | $133K | 0 | — | 28 | 269 |
| FY2020 | 50 | $6.4M | $57K | 0 | — | 50 | 348 |
| FY2019 | 50 | $3.3M | $30K | 0 | — | 50 | 175 |
| FY2018 | 48 | $3.2M | $25K | 0 | — | 48 | 191 |
| FY2017 | 45 | $5.9M | $22K | 0 | — | 45 | 129 |
| FY2016 | 72 | $10.7M | $35K | 0 | — | 72 | 259 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 265 approvals.
Against Mississippi and the country
| FY2021–FY2025 | Covington County | Mississippi | United States |
|---|---|---|---|
| Approvals | 101 | 1,729 | 342,825 |
| Approvals per 1,000 establishments | 307.9 | 28.6 | 41.0 |
| Median 7(a) approval | $109K | $200K | $190K |
| Median 504 approval | — | $1.1M | $657K |
| Average approval | $269K | $561K | $573K |
| 504 share of approvals | 0.0% | 2.3% | 11.0% |
| Jobs supported per approval, as reported | 8.9 | 10.2 | 10.5 |
| Share of state approvals | 5.8% | 100.0% | — |
Approval sizes
- $50,000 or less35.6%36
- $50,001 to $150,00021.8%22
- $150,001 to $350,00029.7%30
- $350,001 to $1 million5.9%6
- $1 million to $2 million5.9%6
- Over $2 million1.0%1
Age of the businesses
- Existing, more than 2 years old64.4%65
- New business, 2 years or less16.8%17
- Startup, loan funds will open the business17.8%18
- Change of ownership1.0%1
Questions and answers
Which lenders make the most SBA loans in Covington County?
By approvals in FY2021 to FY2025: Peoples Bank (56), Covington County Bank (33), BankPlus (3), Southern Bancorp Bank (2), Renasant Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Covington County?
The median 7(a) approval was $109K; the Mississippi 7(a) median was $200K.
Which industries get the most SBA loans in Covington County?
Cattle Ranching and Farming (18); Poultry and Egg Production (17); Logging (9); General Freight Trucking (9); Other Specialty Trade Contractors (6).
Is SBA lending in Covington County rising?
Approvals in the three latest complete fiscal years total 49, against 102 in the three before: falling (-52%).
How does Covington County compare with the rest of Mississippi?
307.9 approvals per 1,000 establishments against 28.6 statewide, and 101 of the state's 1,729 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error