States › Mississippi › FY2024
FY20241 Oct 2023 – 30 Sep 2024
SBA loans in Mississippi, FY2024
That fiscal year's approvals by lender and by county.
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.
In FY2024 (1 October 2023 to 30 September 2024) SBA approved 368 loans in Mississippi: 358 under 7(a) and 10 under 504, worth $185M.
That is up 10% on FY2023, when there were 336 approvals worth $223M.
Mississippi accounted for 0.5% of the 76,235 approvals nationwide that year. 59 lenders had at least one approval in the state; Peoples Bank had the most, 55.
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.
Approvals by lender
The 40 lenders with the most approvals to Mississippi businesses in FY2024, of 59 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Peoples Bank | 7(a) | 55 | $12.4M | 14.9% | 61 | -6 |
| 2 | Trustmark Bank | 7(a) | 27 | $3.7M | 7.3% | 21 | +6 |
| 3 | Community Bank of Mississippi | 7(a) | 24 | $9.3M | 6.5% | 34 | -10 |
| 4 | BankFirst Financial Services | 7(a) | 24 | $7.0M | 6.5% | 26 | -2 |
| 5 | Newtek Bank, National Association | 7(a) | 22 | $7.3M | 6.0% | 8 | +14 |
| 6 | Readycap Lending, LLC | 7(a) | 21 | $7.4M | 5.7% | 2 | +19 |
| 7 | Northeast Bank | 7(a) | 20 | $1.8M | 5.4% | 4 | +16 |
| 8 | The Huntington National Bank | 7(a) | 14 | $4.7M | 3.8% | 8 | +6 |
| 9 | Wells Fargo Bank National Association | 7(a) | 12 | $2.0M | 3.3% | 10 | +2 |
| 10 | Covington County Bank | 7(a) | 11 | $1.4M | 3.0% | 15 | -4 |
| 11 | Hancock Whitney Bank | 7(a) | 10 | $3.8M | 2.7% | 10 | 0 |
| 12 | BayFirst National Bank | 7(a) | 10 | $1.3M | 2.7% | 17 | -7 |
| 13 | Merchants & Marine Bank | 7(a) | 9 | $2.2M | 2.4% | 3 | +6 |
| 14 | Southern Bancorp Bank | 7(a) | 7 | $7.8M | 1.9% | 2 | +5 |
| 15 | Three Rivers Local Development Company, Inc. | 504 | 6 | $10.4M | 1.6% | 4 | +2 |
| 16 | First Financial Bank | 7(a) | 6 | $4.4M | 1.6% | 14 | -8 |
| 17 | BankPlus | 7(a) | 6 | $4.2M | 1.6% | 17 | -11 |
| 18 | GBank | 7(a) | 5 | $11.3M | 1.4% | 1 | +4 |
| 19 | Celtic Bank Corporation | 7(a) | 5 | $6.4M | 1.4% | 3 | +2 |
| 20 | First State Bank | 7(a) | 5 | $2.3M | 1.4% | 1 | +4 |
| 21 | PriorityOne Bank | 7(a) | 5 | $250K | 1.4% | 0 | new |
| 22 | American Bank | 7(a) | 4 | $3.9M | 1.1% | 0 | new |
| 23 | Live Oak Banking Company | 7(a) | 3 | $9.7M | 0.8% | 7 | -4 |
| 24 | Byline Bank | 7(a) | 3 | $6.0M | 0.8% | 5 | -2 |
| 25 | Renasant Bank | 7(a) | 3 | $2.7M | 0.8% | 8 | -5 |
| 26 | Heritage Bank Inc | 7(a) | 3 | $1.9M | 0.8% | 0 | new |
| 27 | The Commercial Bank | 7(a) | 3 | $1.6M | 0.8% | 0 | new |
| 28 | Regions Bank | 7(a) | 3 | $1.1M | 0.8% | 1 | +2 |
| 29 | United Midwest Savings Bank National Association | 7(a) | 3 | $450K | 0.8% | 6 | -3 |
| 30 | Central Mississippi Development Company, Inc. | 504 | 2 | — | 0.5% | 1 | +1 |
| 31 | Customers Bank | 7(a) | 2 | — | 0.5% | 0 | new |
| 32 | First Western SBLC, LLC | 7(a) | 2 | — | 0.5% | 0 | new |
| 33 | Southern AgCredit, FLCA | 7(a) | 2 | — | 0.5% | 5 | -3 |
| 34 | Bank Five Nine | 7(a) | 2 | — | 0.5% | 0 | new |
| 35 | Southern Development Council | 504 | 2 | — | 0.5% | 1 | +1 |
| 36 | Guaranty Bank and Trust Company | 7(a) | 2 | — | 0.5% | 0 | new |
| 37 | Colony Bank | 7(a) | 2 | — | 0.5% | 0 | new |
| 38 | First Bank of the Lake | 7(a) | 2 | — | 0.5% | 1 | +1 |
| 39 | SouthPoint Bank | 7(a) | 1 | — | 0.3% | 0 | new |
| 40 | OptimumBank | 7(a) | 1 | — | 0.3% | 0 | new |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2023 | Change |
|---|---|---|---|---|---|---|
| 1 | Harrison County | 30 | $14.7M | 8.2% | 26 | +4 |
| 2 | Hinds County | 27 | $21.9M | 7.3% | 22 | +5 |
| 3 | Rankin County | 25 | $6.8M | 6.8% | 25 | 0 |
| 4 | DeSoto County | 25 | $22.1M | 6.8% | 15 | +10 |
| 5 | Jackson County | 22 | $10.1M | 6.0% | 12 | +10 |
| 6 | Madison County | 20 | $4.0M | 5.4% | 32 | -12 |
| 7 | Covington County | 20 | $6.8M | 5.4% | 23 | -3 |
| 8 | Simpson County | 19 | $3.6M | 5.2% | 14 | +5 |
| 9 | Jones County | 11 | $13.9M | 3.0% | 5 | +6 |
| 10 | Forrest County | 11 | $2.0M | 3.0% | 10 | +1 |
| 11 | Lauderdale County | 11 | $9.6M | 3.0% | 5 | +6 |
| 12 | Lafayette County | 11 | $3.8M | 3.0% | 8 | +3 |
| 13 | Smith County | 9 | $1.6M | 2.4% | 14 | -5 |
| 14 | Lamar County | 7 | $5.1M | 1.9% | 3 | +4 |
| 15 | Hancock County | 7 | $7.4M | 1.9% | 4 | +3 |
| 16 | Copiah County | 7 | $3.1M | 1.9% | 3 | +4 |
| 17 | Tate County | 7 | $3.1M | 1.9% | 2 | +5 |
| 18 | Lee County | 6 | $1.9M | 1.6% | 8 | -2 |
| 19 | Scott County | 6 | $2.4M | 1.6% | 5 | +1 |
| 20 | Lowndes County | 6 | $1.4M | 1.6% | 5 | +1 |
| 21 | Wayne County | 5 | $2.2M | 1.4% | 3 | +2 |
| 22 | Lincoln County | 4 | $145K | 1.1% | 6 | -2 |
| 23 | Jefferson Davis County | 4 | $296K | 1.1% | 2 | +2 |
| 24 | Washington County | 4 | $5.2M | 1.1% | 5 | -1 |
| 25 | Neshoba County | 3 | $4.5M | 0.8% | 7 | -4 |
| 26 | Marion County | 3 | $204K | 0.8% | 5 | -2 |
| 27 | Newton County | 3 | $706K | 0.8% | 2 | +1 |
| 28 | Leflore County | 3 | $126K | 0.8% | 0 | new |
| 29 | Winston County | 3 | $3.4M | 0.8% | 2 | +1 |
| 30 | Stone County | 3 | $313K | 0.8% | 2 | +1 |
| 31 | Jasper County | 3 | $721K | 0.8% | 8 | -5 |
| 32 | Yazoo County | 3 | $870K | 0.8% | 0 | new |
| 33 | Leake County | 2 | — | 0.5% | 3 | -1 |
| 34 | Panola County | 2 | — | 0.5% | 4 | -2 |
| 35 | Oktibbeha County | 2 | — | 0.5% | 3 | -1 |
| 36 | Bolivar County | 2 | — | 0.5% | 1 | +1 |
| 37 | Lawrence County | 2 | — | 0.5% | 1 | +1 |
| 38 | Chickasaw County | 2 | — | 0.5% | 3 | -1 |
| 39 | Pike County | 2 | — | 0.5% | 7 | -5 |
| 40 | Walthall County | 2 | — | 0.5% | 5 | -3 |
The 40 counties with the most approvals; every county is on the Mississippi page.
FY2024 against FY2023
| Mississippi | FY2024 | FY2023 |
|---|---|---|
| 7(a) approvals | 358 | 329 |
| 7(a) dollars | $166M | $209M |
| Median 7(a) approval | $150K | $211K |
| 504 approvals | 10 | 7 |
| 504 dollars | $19.0M | $13.9M |
| Jobs supported, as reported | 3,519 | 3,276 |
Questions and answers
Which lenders made the most SBA loans in Mississippi in FY2024?
Peoples Bank (55), Trustmark Bank (27), Community Bank of Mississippi (24), BankFirst Financial Services (24), Newtek Bank, National Association (22). 59 lenders had at least one approval.
How many SBA loans were approved in Mississippi in FY2024?
368: 358 under 7(a) worth $166M and 10 under 504 worth $19.0M.
Which Mississippi counties had the most SBA approvals in FY2024?
Harrison County (30), Hinds County (27), Rankin County (25), DeSoto County (25), Jackson County (22).
When does FY2024 start and end?
The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error