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County13th of 75 in Mississippi by approvalsFIPS 28071
SBA loans in Lafayette 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 36 loans to businesses in Lafayette County, Mississippi, in FY2021 to FY2025, worth $15.1M: 35 under 7(a) and 1 under 504.
That is 25.1 approvals per 1,000 business establishments (1,435 establishments in 2023), close to the Mississippi figure of 28.6 and below the national 41.0.
It ranks 13th of 75 Mississippi counties with approvals. In FY2025 there were 13, up 18% on FY2024.
18 lenders had approvals here; the most active were BankFirst Financial Services (8), Regions Bank (4) and Readycap Lending, LLC (4). The most common industry was services to buildings and dwellings.
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 Lafayette County
By number of approvals to businesses in the county, FY2021–FY2025; 18 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | BankFirst Financial ServicesColumbus, MS | 8 | $3.6M | 22.2% | |
| 2 | Regions BankBirmingham, AL | 4 | $3.3M | 11.1% | |
| 3 | Readycap Lending, LLCBerkeley Heights, NJ | 4 | $200K | 11.1% | |
| 4 | Northeast BankLewiston, ME | 3 | $613K | 8.3% | |
| 5 | Byline BankChicago, IL | 2 | — | 5.6% | |
| 6 | Trustmark BankJackson, MS | 2 | — | 5.6% | |
| 7 | Newtek Bank, National AssociationMiami, FL | 2 | — | 5.6% | |
| 8 | GBankLas Vegas, NV | 1 | — | 2.8% | |
| 9 | Renasant BankTupelo, MS | 1 | — | 2.8% | |
| 10 | Great Plains National BankElk City, OK | 1 | — | 2.8% | |
| 11 | Three Rivers Local Development Company, Inc.Pontotoc, MS · CDC | 1 | — | 2.8% | |
| 12 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 2.8% | |
| 13 | Community Bank of MississippiFlowood, MS | 1 | — | 2.8% | |
| 14 | BNA BankNew Albany, MS | 1 | — | 2.8% | |
| 15 | BayFirst National BankSaint Petersburg, FL | 1 | — | 2.8% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Services to Buildings and DwellingsNAICS 5617 | 5 | 13.9% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 4 | 11.1% | |
| 3 | Building Equipment ContractorsNAICS 2382 | 3 | 8.3% | |
| 4 | Health and Personal Care RetailersNAICS 4561 | 2 | 5.6% | |
| 5 | General Freight TruckingNAICS 4841 | 2 | 5.6% | |
| 6 | Building Finishing ContractorsNAICS 2383 | 2 | 5.6% | |
| 7 | Office Supplies, Stationery, and Gift RetailersNAICS 4594 | 2 | 5.6% | |
| 8 | Beer, Wine, and Liquor StoresNAICS 4453 | 1 | 2.8% | |
| 9 | Offices of PhysiciansNAICS 6211 | 1 | 2.8% | |
| 10 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 1 | 2.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 9 | 25.0% | |
| 2 | Construction | 6 | 16.7% | |
| 3 | Administrative and Support and Waste Management and Remediation Services | 5 | 13.9% | |
| 4 | Accommodation and Food Services | 5 | 13.9% | |
| 5 | Professional, Scientific, and Technical Services | 3 | 8.3% | |
| 6 | Transportation and Warehousing | 2 | 5.6% | |
| 7 | Wholesale Trade | 2 | 5.6% | |
| 8 | Health Care and Social Assistance | 1 | 2.8% |
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* | 1 | — | — | 0 | — | 1 | 5 |
| FY2025 | 13 | $4.4M | $135K | 0 | — | 13 | 133 |
| FY2024 | 10 | $3.3M | $205K | 1 | — | 11 | 171 |
| FY2023 | 8 | $4.3M | $183K | 0 | — | 8 | 62 |
| FY2022 | 2 | — | — | 0 | — | 2 | 5 |
| FY2021 | 2 | — | — | 0 | — | 2 | 256 |
| FY2020 | 3 | $571K | $206K | 1 | — | 4 | 82 |
| FY2019 | 1 | — | — | 0 | — | 1 | 3 |
| FY2018 | 11 | $2.7M | $125K | 1 | — | 12 | 106 |
| FY2017 | 7 | $510K | $50K | 0 | — | 7 | 35 |
| FY2016 | 5 | $1.4M | $150K | 0 | — | 5 | 84 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 29 approvals.
Against Mississippi and the country
| FY2021–FY2025 | Lafayette County | Mississippi | United States |
|---|---|---|---|
| Approvals | 36 | 1,729 | 342,825 |
| Approvals per 1,000 establishments | 25.1 | 28.6 | 41.0 |
| Median 7(a) approval | $166K | $200K | $190K |
| Median 504 approval | — | $1.1M | $657K |
| Average approval | $419K | $561K | $573K |
| 504 share of approvals | 2.8% | 2.3% | 11.0% |
| Jobs supported per approval, as reported | 17.4 | 10.2 | 10.5 |
| Share of state approvals | 2.1% | 100.0% | — |
Approval sizes
- $50,000 or less11.1%4
- $50,001 to $150,00036.1%13
- $150,001 to $350,00027.8%10
- $350,001 to $1 million13.9%5
- $1 million to $2 million2.8%1
- Over $2 million8.3%3
Age of the businesses
- Existing, more than 2 years old61.1%22
- New business, 2 years or less13.9%5
- Startup, loan funds will open the business16.7%6
- Change of ownership8.3%3
Questions and answers
Which lenders make the most SBA loans in Lafayette County?
By approvals in FY2021 to FY2025: BankFirst Financial Services (8), Regions Bank (4), Readycap Lending, LLC (4), Northeast Bank (3), Byline Bank (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Lafayette County?
The median 7(a) approval was $166K; the Mississippi 7(a) median was $200K.
Which industries get the most SBA loans in Lafayette County?
Services to Buildings and Dwellings (5); Restaurants and Other Eating Places (4); Building Equipment Contractors (3); Health and Personal Care Retailers (2); General Freight Trucking (2).
Is SBA lending in Lafayette County rising?
Volumes are too small to compare periods.
How does Lafayette County compare with the rest of Mississippi?
25.1 approvals per 1,000 establishments against 28.6 statewide, and 36 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