Lending data
Who actually lends to finance and insurance businesses in Mississippi?
33 SBA 7(a) loans went to finance and insurance businesses in Mississippi recently, at a median of $150,000. Here are the lenders that made them, ranked.
33 SBA 7(a) loans went to finance and insurance businesses in Mississippi in the most recent fiscal years. The median was $150,000 over 10 years. The most active lender was Newtek Bank, with 7 loans.
What lending to finance and insurance businesses in Mississippi actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Finance and insurance, Mississippi | All 7(a) borrowers |
|---|---|---|
| Loans approved | 33 | 214,102 |
| Median loan | $150,000 | $150,000 |
| 25th - 75th percentile | $83,750 - $447,200 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 11.00% | 10.25% |
| Share to startups | 18.2% | 33.6% |
| Charge-off rate, FY2010-19 cohort | not enough history | 7.1% |
Which lenders actually funded them
Ranked by loans approved to finance and insurance businesses in Mississippi. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Newtek Bank | 7 | $300,000 | 0% | 11.25% |
| Readycap Lending, LLC | 4 | $50,000 | 0% | 14.25% |
| Byline Bank | 3 | $643,000 | 0% | 10.25% |
| BayFirst National Bank | 3 | $130,900 | 0% | 13.25% |
| Patriot Bank | 2 | $425,250 | 100% | 9.00% |
| United Midwest Savings Bank | 2 | $615,000 | 50% | 11.12% |
| The Huntington National Bank | 2 | $308,500 | 0% | 9.88% |
| The Citizens National Bank of Meridian | 2 | $87,400 | 100% | 9.50% |
| Northeast Bank | 2 | $166,950 | 0% | 10.12% |
What stands out in this market
Reading the figures above against the national picture:
- Loan sizes are typical. The median of $150,000 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- This is a hard market for new businesses. Only 18% of these loans went to startups, against 34% nationally. If you are pre-revenue, work from the startup table below rather than the main list.
- No single lender dominates, but the top three made 42% of these loans, so the shortlist below covers most of the active market.
- Rates run higher here. The median initial rate of 11.00% is 0.75 points above the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Which of them lend to new businesses
Of those loans, 18.2% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Patriot Bank | 2 | $425,250 | 100% | 9.00% |
| The Citizens National Bank of Meridian | 2 | $87,400 | 100% | 9.50% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in Mississippi: agriculture, restaurants and hotels, retail, healthcare, trucking, personal services
- Finance in comparable states: Kansas, Kentucky, Virginia, Wisconsin, Louisiana, Nebraska