This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

BancorpSouth Announces Creation Of "Grow Mississippi" 2013 Loan Pool Initiative

TUPELO, Miss., March 28, 2013 /PRNewswire/ -- BancorpSouth (NYSE: BXS) today announced the creation of the "Grow Mississippi" 2013 loan pool to help support the state's efforts in soliciting and encouraging business expansion and job creation for Mississippi.

In announcing the initiative, BancorpSouth CEO Dan Rollins said, "This initial commitment of $500 million is being allocated for the specific purpose of funding loans to businesses and entrepreneurs seeking to locate in our state, as well as for existing businesses looking to expand operations. Additional funding will be added to the loan pool during the year if needed, depending on our success in identifying qualified candidates."

"Attracting the best jobs to Mississippi requires teamwork," Governor Phil Bryant said in a statement from the Governor's office.  "Ensuring that businesses have access to capital is a critical element in positioning Mississippi as the top spot for economic development, and I applaud BancorpSouth for taking a leadership role in this new effort. We look forward to working with additional partners who want to show the world that 'Mississippi Works' and is open for business."

Potential candidates, including corporations, small businesses, and entrepreneurs, will be identified through collaborative efforts with the Mississippi Development Authority (MDA) and through BancorpSouth's local community bank lenders across the state.

Mississippi Development Authority Executive Director Brent Christensen said, in a statement from MDA headquarters in Jackson, "When the private and public sectors work together on initiatives such as BancorpSouth's new 'Grow Mississippi' loan pool, the state's growth opportunities in economic development become stronger. We are pleased to offer our full support to the 'Grow Mississippi' initiative, which assists with recruiting new business to Mississippi and offers valuable financial services to the state's existing industries.  MDA will work with BancorpSouth to provide the necessary resources and support to make this development initiative successful."

Underwriting criteria for the loans will include compliance with traditional BancorpSouth loan policies, procedures and credit standards with loan structure and terms designed to take advantage of existing state and local economic development programs and incentives, as well as SBA and other federal loan programs.

Stock quotes in this article: BXS 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,502.23 +0.58 0.00%
S&P 500 1,878.20 +2.81 0.15%
NASDAQ 4,147.3930 +20.4260 0.49%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs