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County9th of 75 in Mississippi by approvalsFIPS 28129
SBA loans in Smith 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 60 loans to businesses in Smith County, Mississippi, in FY2021 to FY2025, worth $16.8M: 60 under 7(a) and 0 under 504.
That is 377.4 approvals per 1,000 business establishments (159 establishments in 2023), above the Mississippi figure of 28.6 and above the national 41.0.
It ranks 9th of 75 Mississippi counties with approvals. In FY2025 there were 9.
11 lenders had approvals here; the most active were Peoples Bank (34), Community Bank of Mississippi (9) and Covington County Bank (4). The most common industry was general freight trucking.
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 Smith County
By number of approvals to businesses in the county, FY2021–FY2025; 11 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Peoples BankMendenhall, MS | 34 | $3.1M | 56.7% | |
| 2 | Community Bank of MississippiFlowood, MS | 9 | $5.6M | 15.0% | |
| 3 | Covington County BankCollins, MS | 4 | $284K | 6.7% | |
| 4 | BankFirst Financial ServicesColumbus, MS | 3 | $1.7M | 5.0% | |
| 5 | First Financial BankEl Dorado, AR | 3 | $1.4M | 5.0% | |
| 6 | Southern AgCredit, FLCAHattiesburg, MS | 2 | — | 3.3% | |
| 7 | BankPlusBelzoni, MS | 1 | — | 1.7% | |
| 8 | United Midwest Savings Bank National AssociationDe Graff, OH | 1 | — | 1.7% | |
| 9 | Readycap Lending, LLCBerkeley Heights, NJ | 1 | — | 1.7% | |
| 10 | Trustmark BankJackson, MS | 1 | — | 1.7% | |
| 11 | PriorityOne BankMagee, MS | 1 | — | 1.7% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | General Freight TruckingNAICS 4841 | 19 | 31.7% | |
| 2 | Poultry and Egg ProductionNAICS 1123 | 17 | 28.3% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 4 | 6.7% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 3 | 5.0% | |
| 5 | LoggingNAICS 1133 | 3 | 5.0% | |
| 6 | Cattle Ranching and FarmingNAICS 1121 | 2 | 3.3% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 3.3% | |
| 8 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 1 | 1.7% | |
| 9 | Nonmetallic Mineral Mining and QuarryingNAICS 2123 | 1 | 1.7% | |
| 10 | Support Activities for MiningNAICS 2131 | 1 | 1.7% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Agriculture, Forestry, Fishing and Hunting | 23 | 38.3% | |
| 2 | Transportation and Warehousing | 21 | 35.0% | |
| 3 | Accommodation and Food Services | 4 | 6.7% | |
| 4 | Other Services (except Public Administration) | 3 | 5.0% | |
| 5 | Arts, Entertainment, and Recreation | 2 | 3.3% | |
| 6 | Mining, Quarrying, and Oil and Gas Extraction | 2 | 3.3% | |
| 7 | Construction | 2 | 3.3% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 2 | 3.3% |
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* | 6 | $9.7M | $1.6M | 0 | — | 6 | 13 |
| FY2025 | 9 | $2.6M | $148K | 0 | — | 9 | 23 |
| FY2024 | 9 | $1.6M | $60K | 0 | — | 9 | 14 |
| FY2023 | 14 | $7.3M | $244K | 0 | — | 14 | 54 |
| FY2022 | 10 | $2.3M | $99K | 0 | — | 10 | 24 |
| FY2021 | 18 | $3.0M | $54K | 0 | — | 18 | 64 |
| FY2020 | 10 | $696K | $62K | 0 | — | 10 | 36 |
| FY2019 | 8 | $998K | $76K | 0 | — | 8 | 24 |
| FY2018 | 7 | $1.5M | $40K | 0 | — | 7 | 14 |
| FY2017 | 8 | $4.4M | $120K | 0 | — | 8 | 11 |
| FY2016 | 10 | $1.0M | $84K | 0 | — | 10 | 37 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 43 approvals.
Against Mississippi and the country
| FY2021–FY2025 | Smith County | Mississippi | United States |
|---|---|---|---|
| Approvals | 60 | 1,729 | 342,825 |
| Approvals per 1,000 establishments | 377.4 | 28.6 | 41.0 |
| Median 7(a) approval | $99K | $200K | $190K |
| Median 504 approval | — | $1.1M | $657K |
| Average approval | $280K | $561K | $573K |
| 504 share of approvals | 0.0% | 2.3% | 11.0% |
| Jobs supported per approval, as reported | 3.0 | 10.2 | 10.5 |
| Share of state approvals | 3.5% | 100.0% | — |
Approval sizes
- $50,000 or less23.3%14
- $50,001 to $150,00038.3%23
- $150,001 to $350,00016.7%10
- $350,001 to $1 million15.0%9
- $1 million to $2 million5.0%3
- Over $2 million1.7%1
Age of the businesses
- Existing, more than 2 years old58.3%35
- New business, 2 years or less20.0%12
- Startup, loan funds will open the business13.3%8
- Change of ownership8.3%5
Questions and answers
Which lenders make the most SBA loans in Smith County?
By approvals in FY2021 to FY2025: Peoples Bank (34), Community Bank of Mississippi (9), Covington County Bank (4), BankFirst Financial Services (3), First Financial Bank (3). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Smith County?
The median 7(a) approval was $99K; the Mississippi 7(a) median was $200K.
Which industries get the most SBA loans in Smith County?
General Freight Trucking (19); Poultry and Egg Production (17); Restaurants and Other Eating Places (4); Automotive Repair and Maintenance (3); Logging (3).
Is SBA lending in Smith County rising?
Approvals in the three latest complete fiscal years total 32, against 38 in the three before: falling (-16%).
How does Smith County compare with the rest of Mississippi?
377.4 approvals per 1,000 establishments against 28.6 statewide, and 60 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