NATCHEZ &045; In one of their first moves outside the Jackson area, staff members of MinCap are coming to Natchez Wednesday, bringing their sizable resources with them.

With a goal of assisting businesses owned by minorities or women, MinCap has in the past 10 years provided 89 loans totaling more than $8 million to help businesses get started or expand, said Kim McMillan, director.

&uot;We’ve identified additional funding and have added to the staff,&uot; McMillan said. &uot;We’re expanding our primary service area, and Adams County is one of those areas.&uot;

The Minority Capital Fund of Mississippi is a nonprofit organization founded in 1994. &uot;We provide loans to those who can’t go to the bank for loans,&uot; McMillan said. &uot;Most of the time they can’t get bank loans because of derogatory credit, insufficient management skills, inadequate collateral or a lack of personal networks.&uot;

At the Natchez meeting, 10 a.m. at the Natchez Convention Center, potential MinCap clients will receive information about the program and about the application process.

&uot;Loans range from $5,000 to $150,000,&uot; McMillan said. &uot;The maximum loan for a business start-up is $100,000.&uot; Interest rates at MinCap are comparable with or lower than bank rates, she said. &uot;What we’re doing is taking high-risk clients and providing them loans at market rate.&uot;

As MinCap expands, more money will become available to help more clients, McMillan said. That is the goal of the organization as it tries to &uot;bridge the gap between majority-owned and minority-owned businesses, to ensure they are afforded the same opportunities.&uot;

Differences between MinCap and traditional financing are, for example:

Allows clients to explain reasons for their derogatory credit and thereby possibly to receive favorable recommendation.

Equity investment is 5 percent rather than the 20 percent usually required by banks.

High-risk clients receive market-rate loans.

Collateral requirements are less stringent.

&uot;We hope to have lots of people come to learn what we can do,&uot; McMillan said. &uot;This is our first effort to let people in that area know about our services.&uot;