Commissioner De’Keither Stamps, President of the Central Mississippi Development Company (CMDC), reports that CMDC continues to serve its SBA 504 loan portfolio.
CMDC is a commercial lender certified by the U.S. Small Business Administration. It works alongside local banks to provide long-term, fixed-rate, low-interest financing for small businesses’ fixed assets. A fixed rate means that if interest rates rise, the business’s payments don’t.
Recent SBA 504 rates (September 2026)
| Term | Interest rate |
|---|---|
| 10 years | 6.61% |
| 20 years | 6.54% |
| 25 years | 6.54% |
Minority Business Enterprise Loan Program
CMDC also serves as the loan review board for CMPDD’s Minority Business Enterprise Loan Program (MBELP), funded by the Mississippi Development Authority. Loans to minority-owned businesses currently carry a 5.50% annual rate, with terms up to 15 years depending on use: commercial buildings, equipment, inventory, working capital and more.
Bankers, loan officers, business owners, developers and contractors are invited to contact Dwayne Perkins at 601-981-1625 or visit the Small Business Loans section of cmpdd.org.
This story first appeared in the October 2026 issue of Central Update, CMPDD’s quarterly newsletter. Find this issue and past editions on our Publications page.