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Tag Archives: loans

Legislation would drive up interest rates on some loans

JACKSON — Mississippi borrowers could soon pay more for some kinds of loans if lawmakers approve a bill to allow higher interest rates. House Bill 1396 would allow loan companies to charge 99 percent interest for loans up to $1,500. The current cap is 36 percent. It would also change amounts that could be charged for loans up to $4,000. ...

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Prospect Capital buying First Tower for $266M

FLOWOOD — Investment firm Prospect Capital Corp. said Tuesday it will pay about $266 million to acquire an 80.1 percent stake in First Tower, a specialty finance company. Prospect Capital said it will pay $110.2 million in cash for the Flowood-based company, and said First Tower shareholders will get 14.5 million shares of Prospect as part of the deal. That ...

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SBA disaster loan deadline approaching

ACROSS MISSISSIPPI — The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of all sizes that April 9 is the filing deadline for federal economic injury disaster loans. These working capital loans are available in the counties of Adams, Amite, Attala, Claiborne, Coahoma, Copiah, DeSoto, Franklin, Hinds, ...

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County looking to have FEMA disaster loan forgiven

JACKSON COUNTY — Jackson County supervisors are hoping that by changing the way the county assessed its Hurricane Katrina financial damage, it will succeed in having its FEMA loan forgiven. FEMA offered the county up to $14 million after the storm as part of a special Community Disaster Loan. The county borrowed closer to $10 million. Board president John McKay ...

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Britton & Koontz sees drop in net income in 2011

NATCHEZ — Britton & Koontz Capital Corporation reports net income for the year ended Dec. 31, 2011, of $394,000, or $.18 per basic and diluted share, compared to $1.9 million, or $.90 per basic and diluted share, for 2010. Net income for the quarter ended Dec. 31, 2011, was $311,000, or $.15 per basic and diluted share, compared to $665,000, ...

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Six counties eligible for SBA disaster recovery loans

NORTH MISSISSIPPI — The U.S. Small Business Administration is reminding small businesses that Feb. 24 is the filing deadline for federal economic injury disaster loans available in Alcom, Benton, DeSoto, Marshall, Tippah and Tishomingo counties in Mississippi.  The SBA declared a disaster because of severe storms, tornadoes, straight-line winds and flooding that began April 23, 2011. “These counties are eligible ...

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KiOR closes on $75M loan to support first biofuels plant

COLUMBUS — KiOR Inc., a next-generation renewable fuels company based in Pasadena, Texas, has closed a $75 million, four-year term loan with a lender group comprised of an affiliate of Vinod Khosla and two Canadian corporations owned by certain pension fund clients of Alberta Investment Management Corporation (AIMCo). “This follow-on investment in KiOR reaffirms the continued long-term commitment of two ...

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Trustmark sees jump in earnings in 2011

JACKSON — Trustmark Corporation reports net income available to common shareholders of $106.8 million for the year ended Dec. 31, 2011, which represented diluted earnings per common share of $1.66, an increase of 5.7 percent compared to figures one year earlier. Trustmark during 2011 produced a return on average tangible common equity of 12.25 percent and a return on average ...

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Renasant sees better quarter, but yearly earnings down

TUPELO — Renasant Corporation, for the fourth quarter of 2011, saw net income of $5.79 million, compared to $4.721 million for the fourth quarter of 2010. Basic and diluted earnings per share (EPS) were $0.23 for the fourth quarter of 2011 as compared to basic and diluted EPS of $0.19 for the fourth quarter of 2010. Net income for 2011 ...

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Report: Mississippi has lowest average home loan

ACROSS MISSISSIPPI — LendingTree.com has released data highlighting the average loan amount on residential real estate purchases for all 50 states and Washington D.C. for the year. Hawaii, by far, leads the nation with an average home loan amount of $677,299, followed by Washington, D.C., at $393,453, New Jersey at $344,240 and New York at $340,124. The states with the ...

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