NYSBD Small Business Public/Non-Profit Financing

Public/Nonprofit Financing

Linked Deposit Program
A Public/Private Economic Development Partnership

State of New York
George E. Pataki, Governor

Department of Economic Development
Charles A. Gargano, Commissioner

State of New York
Department of Economic Development
Banking Department
Office of the State Comptroller
Department of Taxation and Finance

Background

A vibrant business sector is essential to sustain the state's economic growth and its ability to generate jobs, increase export trade, and maintain New York State's position as the tenth largest economy in the world.

Purpose

The Linked Deposit Program (LDP) was created to assist eligible businesses within the state with low-rate loans to modernize facilities and operations, access new markets, develop new products and improve overall competitiveness.

The LDP "linked loan" provides businesses with affordable capital by allowing them to obtain loans from commercial and saving banks, loan associations and farm credit institutions, to save two to three percentage points on prevailing interest rates, and to borrow up to $1,000,000 for up to two years.

Eligible Businesses	Maximum Number of Employees	Prerequisites
Manufacturing	500 or fewer full-time NYS based employees	None
Service	100 or fewer full-time NYS based employees	Must be independently owned and operated and not dominant in their field. Personal and Professional service businesses are not eligible.
Businesses in an Economic Development Zone(EDZ)	100 or fewer full-time NYS based employees	None
Minority / women-owned businesses	None	Must be NYS-certified minority-and women-owned businesses
Defense industry manufacturers	None	Projects must diversify production to take advantage of non-military markets
Other businesses	100 or fewer full-time NYS based employees	Projects must incrase the business's export activities

Further Information

For additional information, visit the Linked Deposit Program website at http://www.empire.state.ny.us/, call the Linked Deposit Program office at 518-292-5261 or email Linkeddeposit@empire.state.ny.us.

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