The loan program was established to provide debit capital to
small farmers who would otherwise be unable to obtain credit from traditional
financial institutions. The loan program is a supervised credit program
supported by technical assistance. It is structured in this manner in
order to reduce risk of failure and enhance success of the enterprises.
An added advantage is the zero-interest feature which in essence eliminated
the cost of borrowing capital.
Funds May Be Used For: Production, Livestock Enterprises, Equipment,
and Value-Added Agricultural Enterprises.
Criteria For Obtaining A Loan
All requested information below must be submitted before an application
will be reviewed by the committee.
1. Business Plan or Plan of Work
2. Legal Status (for profit, or non-profit)
3. Date of charter
4. Articles of Incorporation
5. List of your current Board of Directors and contact information
6. Copy of Bylaws
7. Financial records for last 3 years (Balance sheets, Income statements)
8. List current intermediate and long term assets.
9. Organization must be in the State of Mississippi
10. Legal Capacity to carry out conditions
11. Turned down by two or more institutional creditors
12. A list of current active members and contact information
13. Organization must provide legal adequate security to collateralize
the loan. All security used to support loans must be free and clear
of lien, and lien search must be provided.
If land is used, please provide legal description and copy of the deeds.
If equipment is used, please provide the following: Proof of Ownership,
Quantity, Kind, Manufacture, Size & Type, Condition, Year of manufacturer
& Serial Number.
If crops are used, provide direction to the field(s), exact number
of acres to be grown, crops booked for the amount requested.
14. No production applications will be accepted pass the optimum planting
date.
| Crop |
Begin |
Most Active |
End |
| Corn |
March 27 |
Mar 31-April 28 |
Jun 11 |
| Cotton |
April 14 |
April 28- May 28 |
Jun 9 |
| Soybean |
April 10 |
April 25- May 25 |
Jul 1 |
| Sweet potato |
April 6 |
April 15- Jun 1 |
Jun 15 |
NOTE: There are no charges on any services provided by Alcorn
State University Personnel
If you would like to apply for a loan through the Small Farm Development
Center, a copy of the loan application is available on this web page.
Before attempting to print out a copy of the application you must have
Adobe Acrobat Reader 4.0 installed on your system.
Click here to download Adobe Acrobat Reader 4.0.
Click the button below to view and print the entire or application,
or click on the click on the corresponding links to view and print separate
forms from the application.
