Lending data
Who actually lends to personal service and repair businesses in Mississippi?
84 SBA 7(a) loans went to personal service and repair businesses in Mississippi recently, at a median of $167,650. Here are the lenders that made them, ranked.
84 SBA 7(a) loans went to personal service and repair businesses in Mississippi in the most recent fiscal years. The median was $167,650 over 10 years. The most active lender was Peoples Bank, with 8 loans.
What lending to personal service and repair 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 | Personal and repair services, Mississippi | All 7(a) borrowers |
|---|---|---|
| Loans approved | 84 | 214,102 |
| Median loan | $167,650 | $150,000 |
| 25th - 75th percentile | $77,650 - $348,050 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.75% | 10.25% |
| Share to startups | 53.6% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 6.3% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to personal service and repair 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 |
|---|---|---|---|---|
| Peoples Bank | 8 | $46,600 | 50% | 10.38% |
| Trustmark Bank | 7 | $123,600 | 71% | 7.30% |
| Newtek Bank | 7 | $175,000 | 29% | 10.75% |
| Northeast Bank | 7 | $72,300 | 29% | 10.25% |
| BankFirst Financial Services | 6 | $159,650 | 50% | 9.88% |
| Hancock Whitney Bank | 6 | $247,500 | 83% | 10.75% |
| Community Bank of Mississippi | 6 | $150,000 | 67% | 8.40% |
| Live Oak Banking Company | 4 | $2,055,000 | 25% | 8.00% |
| The Huntington National Bank | 4 | $618,000 | 50% | 9.88% |
| The Citizens National Bank of Meridian | 4 | $475,850 | 75% | 9.50% |
What stands out in this market
Reading the figures above against the national picture:
- Loan sizes are typical. The median of $167,650 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.
- New businesses do well here. 54% of these loans went to startups or businesses under two years old, against 34% nationally — an unusually open market if you have no trading history.
- No single lender dominates, but the top three made 26% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.75% is 0.50 points below 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, 53.6% 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 |
|---|---|---|---|---|
| Trustmark Bank | 5 | $123,600 | 71% | 7.30% |
| Hancock Whitney Bank | 5 | $247,500 | 83% | 10.75% |
| Peoples Bank | 4 | $46,600 | 50% | 10.38% |
| Community Bank of Mississippi | 4 | $150,000 | 67% | 8.40% |
| BankFirst Financial Services | 3 | $159,650 | 50% | 9.88% |
| The Citizens National Bank of Meridian | 3 | $475,850 | 75% | 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, construction
- Personal Services in comparable states: Delaware, New Mexico, West Virginia, Rhode Island, Montana, Arkansas