Alcorn County and the City of Corinth offer a pleasant climate and a beautiful natural setting in the foothills of the Appalachian Mountains; combined with a robust, diverse business environment and a progressive outlook on the future.
Fillmore Street, located in downtown Corinth, Mississippi, is a charming blend of everything old and new. The small town’s main street is flush with historic buildings turned boutiques and art galleries that reportedly “always keep their doors propped open.” Fillmore’s hungry visitors will also find a wide range of locally owned restaurants and coffee houses. One particular Corinth gem is the Generals’ Quarters Inn, an old Victorian home now operating as a bed and breakfast. Take a leisurely stroll along Fillmore Street, and you’ll understand why Parade Magazine called Corinth one of “America’s Best Small Towns.”
Northeast Mississippi Business Incubation System is located in Corinth, Mississippi. This organization primarily operates in the Business Planning and Organizing Services business / industry within the Engineering, Accounting, Research, and Management Services sector. This organization has been operating for approximately 24 years. Northeast Mississippi Business Incubation System is estimated to generate $117,478 in annual revenues, and employs approximately 2 people at this single location.
Economic Development:Easy Rail, Highway, and Air Transportation -
- Two state and two U.S. highways converge in Corinth, making truck travel easy and accessible.
- Three railroads/rail lines pass through the city of Corinth, which has a marshalling yard.
- Air transportation is quick and easy with three airports – one international, one regional, and one private – within 100 miles.
- Port access to the Tennessee-Tombigbee Waterway is within 25 miles of Corinth.
Experienced Work Force -
- Alcorn County has a labor force of 15,630 workers.
- The average manufacturing wage is $44,360.
State and Local Incentives and Tax Breaks -
- Workforce training programs are available through community colleges, WIN Job Centers, and the local career and technology center.
- Financial incentives for infrastructure development, tax breaks, and more are available through TVA, the state of Mississippi, and local government.
- University outreach programs to support business and industry are available.
Specialized Industry -
Alcorn County has the infrastructure, skilled workers, economic incentives, and proximity to suppliers that specifically support the industries of:
- Automobile parts producers
- Health care providers
- Plastic manufacturers
- Wholesale trade and distribution providers
- Tourism industry
Fillmore Street in Downtown Corinth, Mississippi
MAIN STREET CORINTH - Main Street Corinth is an association of businesses, industries, and individuals working together to preserve and invigorate Corinth’s historic downtown. In doing so, Main Street Corinth members strive to:
- Preserve the historical qualities of the downtown area
- Help existing businesses remain successful
- Attract appropriate new businesses to ensure a suitable retail mix
- Enhance the appearance of the area
- Increase awareness of the pleasures of shopping downtown
- Plan and conduct events that will draw people to Downtown Corinth
Whether it’s to survive shortfalls or accelerate growth, access to capital can be critical to small business success. Access to capital can help small businesses grow by giving them the means to purchase new equipment or supplies, upgrade technology and expand facilities, all of which can also lead to increased hiring. And managing that business capital in a positive way impacts the terms and availability of the financing available to fund that growth.
Securing capital is something that comes in time with virtually every business, whether it's in the initial exhilarating stages of transforming an idea into a company or later on, once operations begin to normalize. Generating the amount of liquid cash necessary to scale appropriately, build inventory, or expand marketing efforts can be a challenge for businesses of any size, making additional cash flow a significant benefit.
Access to capital can help small businesses ensure a positive cash flow by securing financing at better terms and getting that financing when it's needed to take advantage of immediate business opportunities. Conversely, businesses with poor credit ratings may face higher credit card and interest rates from lenders. Indeed, insufficient or delayed financing is the second-most-common reason for business failure, reports the SBA.
Access to capital can also help small businesses avoid cash shortfalls, whether they’re due to slow business, natural disasters or daily operations and to stay afloat when times are tough. Enough income to sustain a company on a day to day basis is an important part of keeping a business going, but in many cases, it's not enough. Appropriate cash flow goes beyond the bare minimum; there's significant value in having the funds available to take advantage of special opportunities, whether that means purchasing additional inventory for a special purchase order, or getting in on the ground floor of a profitable investment. With capital, every opportunity is available.
Whether it’s to help a small business weather tough economic situations or to take advantage of growth opportunities when times are good, access to capital can be a critical component of any small-business success.
When handled correctly, a business loan can be a very personalized, carefully crafted undertaking. An all-purpose, one size fits all loan is only an asset in very particular circumstances, but a customized lending process has the ability to create a solution that is very specific to your needs. With the ability to evaluate specific requirements, from loan terms to principal amount, interest rate to repayment schedules, a business loan can open doors for you that were previously closed and locked.
In some cases, access to capital is a great way to take advantage of new opportunities. In others, however, it can be a good way to pull a struggling company out of a pit of poor circumstances. Despite the potential for risk, capital can be the saving grace when trouble comes to call, providing the means to bridge the gap between failure and success. A few extra dollars today may mean an empire tomorrow, and can be the necessary protection against closing up for good.
A business loan, whether for a few thousand dollars or a few million, can make previously unavailable opportunities obtainable, providing a customized solution in a time of need and keeping the lights on even when the going gets rough. With ready access to business capital, the possibilities are literally limitless, offering the assets you need to promote a positive trajectory and inspire healthy growth.
There are numerous reasons a business owner might choose to borrow, but here are some situations where a short-term cash flow loan could make the most sense:
Overcoming a short-term seasonal cash flow bump: Many seasonal businesses require a little extra capital to meet expenses during a down time or before the busy season starts.
Unexpected expenses: It’s not uncommon for businesses to experience unexpected expenses like a major plumbing problem or other maintenance issue they might not have the cash flow to cover.
New project start-up costs: Ramping up for a new project or a new customer sometimes requires additional resources that might exceed a business’ ability to cover with cash flow, but will be recouped in 60 or 90 days.
An opportunity to purchase inventory at a steep discount: A temporary cash flow loan is a good way to take advantage of an opportunity to purchase inventory that has the potential to increase profits.
Emergency repairs to business-critical equipment: When equipment necessary to the operation of your business fails, it likely doesn’t make sense to wait several weeks to start repairs. A temporary cash flow loan can be a good way to access capital to start those repairs right away.
Although short-term, temporary cash flow financing is not appropriate for every business financing need, it may be a good fit for situations like those mentioned above. At these times, most business owners don’t have the luxury of weeks or months to find a business loan. Online lenders like LVRG are often able to provide fast approval (as quickly as a few minutes) and have money in your bank account as quickly as within 24 hours.
Here are 8 Small Business Loan Options for Every Stage of the Business Cycle:
Small Business Cash Flow Loan - Type of debt financing, generally for working capital, using the expected cash flows that a borrowing company generates as collateral for the loan. You’re essentially borrowing from cash that you expect to receive in the future by giving the lender the rights to a predetermined amount of these receivables. Get up to $2 Million in as little as 24 hours, regardless of credit! LEARN MORE
Small Business Expansion Loan - Designed for prime businesses with better risk profiles, our business expansion loan is an extended-term loan with rates ranging from 9.99% - 36%, terms of 18 to 24 months, multiple payment options, and loan sizes up to $250,000. It’s large-scale growth capital if you're looking to invest in bigger projects, with the same speed and simplicity LVRG is known for. GET STARTED
Small Business Line of Credit - A small business line of credit provides flexibility that a regular business loan doesn’t. With a small business line of credit, you can borrow up to $100,000 and pay interest only on the money borrowed. You then draw and repay funds as you wish, as long as you don’t exceed your credit limit. Need to manage cash flow? Buy inventory? Pay for a surprise expense? Then a business line of credit makes sense. LEARN MORE
Small Business Revenue Based Financing - Instead of a business being required to pay fixed interest payments like a typical bank loan, a revenue based loan is paid with a percentage of revenues. With loan amounts up to $2 Million dollars and funding in as little as 24 hours, it helps you grow your business and it does not saddle you down with long-term, highly encumbering debt. LEARN MORE
Small Business Term Loan - Small business term loans can get you the money you need to bridge cash flow gaps, handle emergencies and unexpected expenses or take advantage of a business opportunity. Funding amounts from $15,000 to $250,000 and terms of 3-24 months, a term loan from LVRG is small business capital for big business growth. LEARN MORE
Small Business Working Capital Loan - At any stage of growth, fast, flexible funding is essential to the continued success of your small business. Our working capital loans feature 6 to 18 month terms and fixed payment options to accommodate your specific needs, so you can focus on what you do best, running and building your business. LEARN MORE
Merchant Cash Advance - Unlike a loan, we provide you with business capital by purchasing a portion of your future receivables. Daily remittances are an agreed-upon percentage of your sales and are automatically deducted from your credit processor or bank account. Perfect for businesses with fluctuating revenue, the Merchant Cash Advance ensures that your remittances are always based on what you can afford, so you can grow, not just owe.
Small Business Administration Loans (SBA) - Generally the least expensive financing option for small business owners. The SBA 7(a) loan is the Small Business Administration’s most popular product and offers a flexible sum of cash that can be used for anything from managing daily operations to purchasing new products and refinancing high-interest loans. LVRG offers SBA 7(a) loans up to $350,000 in the most streamlined and efficient way possible. And, you can have funds in as fast as 7 days after the application is completed! *Typical funding time at a bank is 2-8 months. LEARN MORE
LVRG offers financing for all types of businesses throughout Corinth, including, but not limited to: Automotive • Barber Shops • Bars • Beauty Salons • Bike Shops • Bookstores • Breweries• Car Washes • Chiropractors • Clothing Stores • Construction • Craft Breweries • Day Spas • Dental Practices • Dentists • Electronics • Entertainment • Fast Food • Florist Shops • Franchises • Gift Shops • Grocers • Gyms • Hotels • Liquor Stores • Manufacturing Companies • Medical Practices • Microbreweries • Nail Salons • Pet Stores • Nightclubs • Pharmacies • Physicians • Pizza • Restaurants • Retail Businesses • Seasonal Businesses • Self Storage • Veterinary Practices and more...
Our financing alternatives may also be the ideal solution for businesses with less than perfect credit. Best of all, you could have your funds in as little as little as 24 hours. The process is quick and easy and begins with an easy to complete application from you. We’ll take care of the rest. Small Business Loans in Corinth Mississippi, One of the Top 50 Best Small Town Main Streets in America. Call (855) 998-LVRG or click below to get started!
Reference: The Alliance. City of Corinth & Alcorn County Mississippi. http://www.corinthalliance.com/economic-development/