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Tag Archives: loans

SBA loans available to victims of drought

BENTON COUNTY and MARSHALL COUNTY — The U.S. Small Business Administration’s economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Benton and Marshall counties in Mississippi as a result of drought and excessive heat that occurred from May 1-Oct. 31, 2011. “These ...

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Report: State's foreclosure rate fell in 2011

ACROSS MISSISSIPPI — The pace of home foreclosures in Mississippi slowed substantially in 2011, following a national trend that may soon be reversed, a national foreclosure tracking firm said yesterday. Irvine, Calif.-based RealtyTrac said that in 2011, 3,172 homes in the state were hit by some sort of foreclosure action. Those range from an initial notice of default to repossession ...

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City borrows money to cover payroll expenses

NATCHEZ — The city of Natchez has borrowed $350,000 of its $400,000 tax-anticipation loan since December to help cover payroll expenses. City Clerk Donnie Holloway tells The Natchez Democrat the city originally budgeted for the $400,000 tax-anticipation loan, but he said the city would not need the additional $50,000. The Natchez Board of Aldermen approved taking out the loan for ...

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Two counties declared disaster areas by SBA

ITAWAMBA COUNTY and MONROE COUNTY — The U.S. Small Business Administration announces today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Itawamba and Monroe counties in Mississippi as a result of the excessive rain, flooding, flash flooding, hail, high ...

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Homeowners eligible for FHA loan program

BILOXI — Biloxi residents learned this week about an FHA loan program that will let them borrow up to $271,050 to buy, refinance or improve their homes. The Sun Herald reports the Federal Housing Administration 203(k) loan program is designed to rehabilitate the nation’s older homes. Bo Smith, a mortgage financing expert from Jackson, says many of the homes in ...

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HOPE approved as first Community Advantage lender

JACKSON — The U.S. Small Business Administration (SBA) has approved Hope Enterprise Corporation (HOPE) as its first lender in the Community Advantage Loan program in Mississippi. HOPE CEO Bill Bynum said, “For small, rural and minority entrepreneurs, financing can be the most elusive resource. With the Community Advantage program, we can help even more companies stabilize, grow and contribute to ...

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Two sentenced for role in mortgage fraud scheme

JACKSON — Former mortgage brokers Jason Ellis and Michael Persac will forfeit more than $3 million and pay more than $781,000 in restitution for their part in a mortgage fraud scheme. Ellis and Persac, out on bond since they were charged in 2005 in a mortgage fraud case, also are going to prison after their sentencings Wednesday in U.S. District ...

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Coast city borrowing to pay on two bond issues

WAVELAND — The City of Waveland has borrowed $486,000 to pay on two public works bond issues from 2004. Mayor David Garcia tells the Sea Coast Echo the city borrowed money against its anticipated 2012 property taxes. In 2004, Waveland took out two bonds totaling more than $6 million for public works projects such as drainage, street paving and general ...

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Magnolia opens new office, acquires Advantage

FLOWOOD — Magnolia State Bank has opened its new location in Flowood, and has completed the acquisition of Advantage Mortgage Corp. The new mortgage division is set to open Nov. 1 as Advantage Mortgage, A Division of Magnolia State Bank. The office is located at 437 Katherine Drive and will house seven employees. The location will have a night deposit ...

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SBA offering loans to drought-impacted businesses

ACROSS MISSISSIPPI — The U.S. Small Business Administration’s economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Mississippi as a result of drought and excessive heat that occurred from Jan. 1 – Aug. 30, 2011. “When the Secretary of Agriculture issues a ...

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