State approves small business loans

State approves small business loans

Loans totaling $7.64 million have been approved for seven small businesses in Mississippi, including two in Northeast Mississippi, by the Mississippi Business Finance Corp.’s Small Enterprise Development finance program.

The SED program, a part of the Mississippi Department of Economic and Community Development, provides tax-exempt loans to manufacturing and processing companies for fixed assets that will increase employment and investment in communities.

The loans announced this week by Gov. Kirk Fordice are expected to create about 307 jobs.

Those receiving loans in Northeast Mississippi were Albany Industries of New Albany and Franklin Development Co. LLC of Houston.

-Marty Russell

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