A program that links the deposit of state funds to loans made by participating financial institutions to certified businesses
About the Linked Deposit Program
In 1993 the Legislature enacted the Minority and Women Owned Business Assistance Act to create the Linked Deposit Program (LDP). The legislation directs the Office of the State Treasurer and the Office of Minority and Women's Business Enterprises (OMWBE) to operate a program linking the deposit of state funds to loans made by participating financial institutions to qualified minority or women-owned businesses. The Department of Veteran's Affairs (DVA) was later added as a qualified partner for veteran-owned businesses. The deposit of state funds is made at below market rates. The savings are then passed on by the bank to the Linked Deposit borrowers in the form of an interest rate reduction of up to two percent.
For information regarding customer eligibility and certification please reach out to the applicable state agency whichever the participant would qualify under.
For information regarding a financial institution participating in the program, contact Staci Ashe at 360-902-9017 or by email at Staci.Ashe@tre.wa.gov.
Participating Financial Institutions:
- 1st Security Bank of Washington
- Heritage Bank
- Liberty Bank
- Mountain Pacific Bank
- RiverBank
- Timberland Bank
- UniBank
- Umpqua Bank
- US Bank
- Washington Trust Bank
- Whatcom Education Credit Union