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UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders

by Published: September 18,2014

Tags: Business, Farish Street Entertainment District, Mississippi, NEWS

The City of Jackson has agreed to repay the federal government $503,603 a year over the next three years to settle violations claimed by the Department of Housing and Urban Development regarding the stalled Farish Street Entertainment District project. Further, HUD has suspended the Jackson Redevelopment Authority and Farish Street Group headed by developer David […] [...]

Fed’s Beige Book notes moderate economic growth in Mississippi’s 2 districts

by Published: September 15,2014

Tags: banking, Business, finance, Metropolitan Bank, Mississippi, Ridgeland

Federal Reserve banks in Atlanta and St. Louis, both of which have Mississippi jurisdictions, report modest gains in economic activity since mid July. Reporting in the Federal Reserve’s Sept. 4 Beige Book, the Atlanta Fed said business optimism for 2014 exceeds actual gains to this point. “Regardless of the outlook, most firms continue to be […] [...]

Bigger looks better for Mississippi’s banks

by Published: September 15,2014

Tags: banking, Business, finance, Mississippi

Mississippi’s banks netted profits of $369 million in the second quarter, but the state’s small banks with less than $100 in assets continued a two-year decline in profits, the Federal Deposit Insurance Corp. reports. While banks above $100 million in assets earned nearly $100 million more over the same quarter last year, going from $266 […] [...]

Court tosses challenge to Miss. Silicon’s clean air permit

by Published: September 15,2014

Tags: Business, Mississippi, technology

An Alabama competitor to Mississippi Silicon, which is building a $200 million  plant in Burnsville, came in too late with its challenge to an air quality permit for the plant, the Tishomingo County Chancery Court has ruled. In an Aug. 29 summary judgment, Chancery Judge Michael Malski said Globe Metallurgical of Selma let too much […] [...]

A Q&A with the SBA

by Published: September 15,2014

Tags: banking, Business, Mississippi, Q&A, SBA

(Q) Media reports and some surveys in the last six months say it seems business lending is resurgent in most parts of the country.  Would you say that is true for Mississippi small business lending? (A) Yes, there has been a resurgence for small business lending as a whole. Lending in Mississippi thus far this […] [...]

For SBA fixed-asset lending, think 504

by Published: September 15,2014

Tags: banking, Business, Mississippi, SBA

Mississippi’s small businesses looking to buy land, build a building, physically expand or buy new equipment often turn to the Small Business Administration’s 504 loans. The fixed-asset loans offer fixed rates of from 10 to 20 years in amounts up to $5.5 million. They are administered through a pair of subsidiaries of the state’s regional […] [...]

Community Bancshares still a top destination for borrowers seeking SBA loans

by Published: September 15,2014

Tags: banking and finance, Business, Mississippi

Brandon-based Community Bancshares continues to run far ahead of other Mississippi banks in the amount of money loaned to businesses through the Small Business Administration. Community Bancshares, the $2.5 billion parent of four separately chartered Community Bank companies based in Biloxi, Ellisville, Brandon and Amory, made slightly more than $47 million in SBA loans from […] [...]

CSpire offering 1Phone 6, IPhone 6 Plus on Sept. 19

by Published: September 10,2014

Tags: Apple, Business, iPhone 6, Mississippi, technology

Apples’ iPhone 6 and iPhone 6 Plus, proclaimed by the telecom industry as  the biggest advancements in iPhone history, will be available beginning Sept. 19 on its fast 4G+ LTE network. Customers can buy the phones at any of the dozens of CSpire retail stores across Mississippi, online at www.cspire.com/iphone6 and through CSpire’s Consumer Telesales group at 1-855-CSP-IRE4. […] [...]

Casual dining is an economic indicator

by Published: September 4,2014

Tags: Business, Dining, economy, flowed, Mississippi, Outback Steakhouse

How’s an area’s economy doing? Just check the traffic at casual dining restaurants such as Outback, Longhorn, Logan’s and Olive Garden. J&R Restaurant Group’s sales at its eight Mississippi and Tennessee Outback Steakhouses dropped along with the economy from 2007-2009. By 2010, with a degree of life returning to the economy and job insecurity lifting, […] [...]

Outback Steakhouse dream realized in Flowood

by Published: September 4,2014

Tags: australia, Business, Dining, Flowood, Mississippi, outback

A victory at the polls in 2006 after a pair of defeats in Flowood liquor-by-the-drink referendums positioned Steven Grantham Jr. to carry out his late father’s plans for a second Outback Steakhouse in Metro Jackson. Flowood finally would get an Outback restaurant where diners could enjoy their favorite spirits along with thick cut grilled steaks […] [...]

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