Capital Improvements Revolving Loan Program (CAP)
Capital Improvements Revolving Loan Program (CAP) lends to Mississippi counties and municipalities for infrastructure, facilities and site improvements that support jobs, business growth or community needs.
Funder: Mississippi Development Authority
Due Dates: No application deadline stated
Funding Amounts: Loans up to $2.5 million for economic development or $1.25 million for community development; terms up to 20 years
Summary: CAP lends to Mississippi counties and municipalities for capital improvements supporting economic development or community needs.
Key Information: The governing authority of a county or incorporated municipality must apply; CAP provides loans, not grants.
Description
The Mississippi Development Authority (MDA) administers the Capital Improvements Revolving Loan Program to finance capital improvements in Mississippi counties and municipalities. Loan funds can support business location and expansion projects or community-based projects. Economic development projects promote full-time private-sector job creation or retention; community development projects address a community need without creating jobs.
Eligible work includes water and sewer facilities; industrial drainage, access roads and railroad spurs; fire protection; buildings for economic development; specified publicly owned health care, auditorium, convention and tourism facilities; recreational facilities; and remediation of brownfield agreement sites. The CAP guidelines define the eligible uses and their conditions.
