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Mississippi-based banks were among the largest lenders to “The Magnolia State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a restaurant, auto repair, medical practice, funeral home, veterinary or hotel, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top 10 SBA Lenders in Mississippi:
Most active SBA lenders in Mississippi
| State Rank | Bank | Bank Headquarters | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | Peoples Bank | Mendenhall, MS | 36 | $475,407 | 7.7% |
| 2 | Covington County Bank | Collins, MS | 36 | $57,508 | 7.2% |
| 3 | Community Bank of Mississippi | Forest, MS | 35 | $154,571 | 6.2% |
| 4 | Trustmark National Bank | Jackson, MS | 26 | $241,938 | 6.9% |
| 5 | BankPlus | Belzoni, MS | 24 | $367,350 | 6.4% |
| 6 | BancorpSouth Bank | Tupelo, MS | 14 | $238,657 | 6.4% |
| 7 | State Bank & Trust Company | Greenwood, MS | 10 | $104,720 | 6.8% |
| 8 | Wells Fargo | Sioux Falls, SD | 10 | $8,000 | 10.8% |
| 9 | First Financial Bank | El Dorado, AR | 9 | $731,111 | 7.0% |
| 10 | The First | Hattiesburg, MS | 9 | $446,244 | 5.8% |
| 11 | Live Oak | Wilmington, NC | 6 | $1,920,000 | 7.0% |
| 12 | Byline Bank | Chicago, IL | 6 | $665,833 | 8.3% |
| 13 | United Midwest Savings Bank | De Graff, OH | 6 | $125,000 | 8.3% |
| 14 | Regions Bank | Birmingham, AL | 5 | $1,083,600 | 7.0% |
| 15 | First Home Bank | Saint Petersburg, FL | 5 | $577,000 | 8.1% |
| 16 | Celtic Bank | Salt Lake City, UT | 5 | $197,320 | 8.5% |
| 17 | The Citizens Bank of Philadelphia | Philadelphia, MS | 5 | $163,600 | 6.6% |
| 18 | PriorityOne Bank | Magee, MS | 4 | $390,674 | 6.5% |
| 19 | Independence Bank | East Greenwich, RI | 3 | $133,333 | 4.6% |
Top Mississippi PPP lenders (loans <$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | Community Bank of Mississippi | 4,483 |
| 2 | Trustmark National Bank | 3,679 |
| 3 | BancorpSouth Bank | 3,638 |
| 4 | BankPlus | 3,074 |
| 5 | Renasant Bank | 2,907 |
| 6 | Regions Bank | 2,080 |
| 7 | Kabbage | 1,796 |
| 8 | Hancock Whitney Bank | 1,246 |
| 9 | Planters Bank & Trust Company | 1,058 |
| 10 | Guaranty Bank & Trust Company | 1,017 |
Top Mississippi PPP lenders (loans >$150,000)
| Rank | Bank | # PPP Loans |
|---|---|---|
| 1 | Trustmark National Bank | 514 |
| 2 | Community Bank of Mississippi | 326 |
| 3 | Renasant Bank | 323 |
| 4 | BancorpSouth Bank | 301 |
| 5 | BankPlus | 272 |
| 6 | Hancock Whitney Bank | 217 |
| 7 | Regions Bank | 206 |
| 8 | The Citizens National Bank of Meridian | 130 |
| 9 | The First | 96 |
| 10 | Guaranty Bank & Trust Company | 88 |
Note: Mississippi PPP loan activity data from the CARES Act from March – August and does not include Heals/Heroes Act PPP loans.