Business_BusinessPlus

BusinessPlus

  • Improve your business, improve your community.

    Small business is the heart of our communities. At BankPlus, we understand that in order for our communities to grow, the small businesses within them must grow. For this reason, we are proud to offer the BusinessPlus program to help small business owners establish a more sound financial future.

    What is BusinessPlus?
    BusinessPlus is a loan product designed to encourage small business owners to develop a stable financial future for themselves and the communities they serve.

    Who it Helps
    The BusinessPlus program is designed to help small business owners in need of a loan to meet the needs of operating a successful business.

    How It Helps  

    • Business owners will participate in a four-hour BusinessPlus financial literacy class that will provide valuable information on running a successful business.
    • Business owners will be provided training and mentoring from BankPlus officers and BusinessPlus Partners including the Jackson State University Center for Business Development & Economic Research, The City of Jackson, Butler Snow, PLLC, Bruno & Tervalon LLP, CPA, and SBA.
    • The BusinessPlus program will help bridge the gap between small business owners, BankPlus, SBA, and other resource providers. The BusinessPlus program will also help assist with available grants for small business owners when available.

    How It Works
    Small business owners that wish to participate in BusinessPlus are required to attend a four-hour BusinessPlus financial literacy class conducted through the Jackson State University Center for Business Development & Economic Research. The class will cover topics on developing a business plan, handling tax responsibilities, creating a personal financial statement and managing personal credit history.

    Financial Education  

    • All borrowers are required to complete the BusinessPlus financial literacy class.
    • Upon completion of the class, small business owners will receive a certificate of completion, which allows them to begin the BusinessPlus application process and establish a ValuePlus Business checking account.

    Amount
    Minimum loan amount is $1,000
    Maximum loan amount without SBA guaranty is $25,000
    Term1
    Not to exceed 60 months for loans greater than $5,000
    Not to exceed 36 months for loans less than or equal to $5,000
    Interest Rate2
    Variable rate is set to New York Prime + 4.250%
    Fees
    No origination fee
    Document preparation fee will be based on BankPlus fee schedule
    SBA Loan fees are applicable
    1. Loan maturity may be determined on a case by case basis as determined to be best suited for the borrowing needs of the business.
    2. The rate is subject to change should New York Prime (NYP) change.


    Register Now


    For more information about the BusinessPlus program please call
    601-944-4622.

    BusinessPlus program terms and rate are subject to change without prior notice. Certain restrictions may apply.
    All loans subject to credit approval. All borrowers may not qualify.
    Funds may be used for business purposes ONLY but not for personal use.
    Loan may not be used to purchase rental property, repairs to rental property or raw land purchase.
     

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