Lending data
Who actually lends to trucking and transportation businesses in Mississippi?
94 SBA 7(a) loans went to trucking and transportation businesses in Mississippi recently, at a median of $124,500. Here are the lenders that made them, ranked.
94 SBA 7(a) loans went to trucking and transportation businesses in Mississippi in the most recent fiscal years. The median was $124,500 over 7 years. The most active lender was Peoples Bank, with 42 loans.
What lending to trucking and transportation 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 | Transportation and trucking, Mississippi | All 7(a) borrowers |
|---|---|---|
| Loans approved | 94 | 214,102 |
| Median loan | $124,500 | $150,000 |
| 25th - 75th percentile | $50,000 - $191,125 | $50,000 - $500,000 |
| Median term | 7 years | 10 years |
| Median initial rate | 10.25% | 10.25% |
| Share to startups | 30.9% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 10.3% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to trucking and transportation 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 | 42 | $130,900 | 19% | 9.75% |
| Trustmark Bank | 8 | $77,400 | 100% | 7.44% |
| Northeast Bank | 5 | $71,000 | 0% | 11.25% |
| Lendistry SBLC, LLC | 5 | $300,000 | 0% | 12.00% |
| BayFirst National Bank | 4 | $150,000 | 0% | 12.50% |
| Covington County Bank | 4 | $38,000 | 50% | 9.50% |
| Readycap Lending, LLC | 3 | $350,000 | 33% | 11.25% |
| Wells Fargo Bank | 2 | $17,500 | 100% | 14.50% |
| Merchants & Marine Bank | 2 | $325,750 | 0% | 10.75% |
| The Huntington National Bank | 2 | $400,000 | 0% | 11.25% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run smaller than average. The median of $124,500 is 17% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- Startup share is about average, at 31% against 34% nationally.
- One lender dominates. Peoples Bank alone made 45% of these loans, and the top three made 59%. That concentration usually means a lender with a dedicated program for this sector — worth starting there, but get a second quote so you know the terms are competitive.
- Lenders have been burned here before. 10.3% of loans to this market from the FY2010-2019 cohorts were charged off, against 7.1% overall. That history is why underwriting in this sector is tighter than the numbers alone would suggest — it is not personal.
- Terms are short, at a median of 7 years — shorter than the ten years typical of 7(a) lending, which points to equipment and working capital rather than property.
Which of them lend to new businesses
Of those loans, 30.9% 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 |
|---|---|---|---|---|
| Peoples Bank | 8 | $130,900 | 19% | 9.75% |
| Trustmark Bank | 8 | $77,400 | 100% | 7.44% |
| Covington County Bank | 2 | $38,000 | 50% | 9.50% |
| Wells Fargo Bank | 2 | $17,500 | 100% | 14.50% |
| BankPlus | 2 | $41,850 | 100% | 10.25% |
| Southern Bancorp Bank | 2 | $93,900 | 100% | 8.38% |
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, personal services, construction
- Trucking in comparable states: Idaho, Nevada, Connecticut, Alabama, Kentucky, Tennessee