SBA loans in Mississippi: who lends, what gets bought, how it performs
Since FY2018, SBA lenders have approved 354 7(a) loans to buy an existing business in Mississippi, totaling $348M. The median loan was $658,500, in line with the $645,250 national median for SBA-financed acquisitions.
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SBA lenders in Mississippi
The lenders that made the most SBA 7(a) acquisition loans in Mississippi, FY2018 to FY2026.
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Trustmark Bank | 38 | 10.7% | $24.9M | |
| 2 | Community Bank of Mississippi | 33 | 9.3% | $13.1M | |
| 3 | BankFirst Financial Services | 32 | 9.0% | $16.4M | |
| 4 | Live Oak Banking Company | 27 | 7.6% | $31.2M | |
| 5 | First Financial Bank | 23 | 6.5% | $24.4M | |
| 6 | BankPlus | 22 | 6.2% | $15M | |
| 7 | GBank | 15 | 4.2% | $37.2M | |
| 8 | Peoples Bank | 15 | 4.2% | $23.1M | |
| 9 | Hancock Whitney Bank | 13 | 3.7% | $5.4M | |
| 10 | The Huntington National Bank | 9 | 2.5% | $12.3M |
What this tells a buyer
- Deal size band. Half of Mississippi acquisition loans fell between $283,725 and $1,300,000. The nationwide band is $283,000 to $1,465,000.
- Share of national volume. Mississippi accounts for 0.7% of all SBA acquisition loans and ranks number 35 of 54 states and territories by count.
- Industry concentration. Hotels (except Casino Hotels) and Motels is the most financed business type here (39 loans, 11% of the state). The top three industries together are 26%.
- Lender concentration. Trustmark Bank made 11% of the state's acquisition loans. No single lender dominates, so there are several lenders with local acquisition experience.
- Franchise resales. 24% of acquisition loans in Mississippi involved a franchised brand; the most frequent is Super 8 (6 loans).
Mississippi acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 25 | $20M | $640,000 | |
| FY2019 | 36 | $37.8M | $626,150 | |
| FY2020 | 51 | $43.3M | $545,000 | |
| FY2021 | 43 | $41.3M | $680,000 | |
| FY2022 | 32 | $33.9M | $837,350 | |
| FY2023 | 55 | $47.3M | $500,000 | |
| FY2024 | 35 | $42.8M | $930,000 | |
| FY2025 | 40 | $40.1M | $616,600 | |
| FY2026 | 37 | $41.7M | $629,000 |
How often do these acquisition loans fail?
Of the 155 Mississippi acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 4 have been charged off by the SBA, a rate of 2.6% by loan count and 0.7% by dollars. 88 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so Mississippi is 27% lower than the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Top industries in Mississippi
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 39 | 11.0% | $102M | |
| 2 | Broilers and Other Meat Type Chicken Production | 37 | 10.5% | $42.6M | |
| 3 | Insurance Agencies and Brokerages | 17 | 4.8% | $8.8M | |
| 4 | Pharmacies and Drug Retailers | 14 | 4.0% | $20.8M | |
| 5 | Limited-Service Restaurants | 14 | 4.0% | $7.7M | |
| 6 | Full-Service Restaurants | 14 | 4.0% | $5.9M | |
| 7 | Child Care Services | 11 | 3.1% | $2.6M | |
| 8 | Chicken Egg Production | 10 | 2.8% | $7.1M | |
| 9 | Beer, Wine, and Liquor Retailers | 8 | 2.3% | $7.4M | |
| 10 | Other Poultry Production | 8 | 2.3% | $6.8M |
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Franchise brands bought in Mississippi
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Super 8 | 6 | 1.7% | $15.4M | |
| 2 | Days Inn | 6 | 1.7% | $12.7M | |
| 3 | Health Mart Pharmacy | 5 | 1.4% | $7.7M | |
| 4 | Studio 6 | 4 | 1.1% | $10.1M | |
| 5 | Holiday Inn Express | 3 | 0.8% | $13.3M | |
| 6 | Domino's Pizza | 3 | 0.8% | $5M | |
| 7 | Smoothie King | 3 | 0.8% | $3M | |
| 8 | Sleep Inn | 2 | 0.6% | $8.1M | |
| 9 | La Quinta | 2 | 0.6% | $7M | |
| 10 | Best Western | 2 | 0.6% | $5.2M | |
| 11 | Motel 6 | 2 | 0.6% | $3.1M | |
| 12 | Servpro | 2 | 0.6% | $2.7M | |
| 13 | Jackson Hewitt Tax Service | 2 | 0.6% | $1.2M | |
| 14 | Anytime Fitness | 2 | 0.6% | $870K | |
| 15 | Smartstyle | 2 | 0.6% | $615K |
Acquisitions by industry in Mississippi
The 8 industries with the most acquisition loans in Mississippi (minimum ten). Charge-off rates appear where at least 20 loans are old enough to measure.
| Industry | Loans | Median loan | Charge-off |
|---|---|---|---|
| Hotels and Motels | 39 | $2,138,700 | 0.0% |
| Broilers and Other Meat Type Chicken Production | 37 | $1,126,600 | n/a |
| Insurance Agencies and Brokerages | 17 | $400,000 | n/a |
| Full-Service Restaurants | 14 | $293,650 | n/a |
| Limited-Service Restaurants | 14 | $261,000 | n/a |
| Pharmacies and Drug Retailers | 14 | $1,347,500 | n/a |
| Child Care Services | 11 | $139,800 | n/a |
| Chicken Egg Production | 10 | $562,650 | n/a |
Questions buyers ask
How much do buyers borrow to buy a business in Mississippi?
The median SBA 7(a) acquisition loan in Mississippi was $658,500 across 354 loans (FY2018 to FY2026), in line with the $645,250 national median. The middle half of loans ran from $283,725 to $1,300,000. A loan is not the purchase price: it is net of the buyer's equity injection and usually includes some working capital.
Which banks make the most SBA acquisition loans in Mississippi?
Trustmark Bank (38), Community Bank of Mississippi (33), BankFirst Financial Services (32), Live Oak Banking Company (27), First Financial Bank (23). Trustmark Bank alone accounts for 11% of Mississippi acquisition loans. See each lender page for industries and states served.
What kinds of businesses are bought with SBA loans in Mississippi?
Hotels (except Casino Hotels) and Motels (39), Broilers and Other Meat Type Chicken Production (37), Insurance Agencies and Brokerages (17), Pharmacies and Drug Retailers (14), Limited-Service Restaurants (14). The top three industries make up 26% of the state's acquisition loans.
How often do SBA acquisition loans fail in Mississippi?
In the seasoned cohort (FY2018 to FY2021), among 155 Mississippi acquisition loans: 2.6% charged off, 27% lower than the 3.5% national acquisition average.
How does Mississippi compare with other states?
Mississippi ranks number 35 of 54 states and territories by acquisition loan count, with 0.7% of national volume (354 of 48,902 loans) and $348M approved. Browse the full state ranking.
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Related
- Hotels (except Casino Hotels) and Motels nationally
- Broilers and Other Meat Type Chicken Production nationally
- Insurance Agencies and Brokerages nationally
- Trustmark Bank
- Community Bank of Mississippi
- BankFirst Financial Services
- All states
- Buyer's guide to the data
State is the project state recorded by the lender (where the acquired business operates), not the borrower's mailing state.