Community Development

Partners and Allies

SEMCIC’s unique collaboration with six banks throughout Greater Hattiesburg has created approximately 270 jobs in the region since the program’s inception in late 1993.  This non-traditional lending business model partners with BancorpSouth, Great Southern National, Hancock, The First-A National Banking Association, Trustmark National and Regions Banks to assist existing and prospective business owners create or expand their businesses.  This unique partnership is one of only two currently remaining in Mississippi originally formed as a bank-based Community Development Corporation (CDC).  Although the program is looked to for gap financing assistance, SEMCIC also has the capacity to provide direct Micro loans for those businesses needing $35,000 or less.  SEMCIC serves Forrest, Lamar and Perry Counties.

SEMCIC Lending Partners

BancorpSouthGreat Southern National Bank Hancock Bank

 Regions Bank The First Trustmark National Bank

Bank Commitment Requirements:

Before SEMCIC loans are presented for review, the participating bank must provide an official commitment letter that includes the following information:

  • The First Joins SEMCICLoan Amount
  • Interest Rate
  • Length of loan financing
  • Collateral
  • Bank’s position on collateral

Allies

Antonelli College
FDIC
JCJC Small Business Development Center
Mississippi Development Authority
Office of the Comptroller of Currency
SCORE
Small Business Administration
South MS Contract Procurement Center
Southern MS Planning & Development District
The University of Southern Mississippi
William Carey University