 Loan
Discounts
New York State can assist your business with
low-rate loans to modernize facilities and operations,
access new markets, develop new products and improve
overall competitiveness. Empire State Development
offers the Linked Deposit Program (LDP), a public-private
partnership that provides businesses with affordable
capital based on bank loans at reduced interest
rates. These bank loans are subsidized by corresponding
"linked" state deposits.
The Linked Deposit Program Provides:
- The ability for eligible businesses to obtain
loans from commercial banks, savings banks,
savings and loan associations,
farm credit
institutions and the New
York Business Development Corporation.
- A two to three percentage points savings on
the prevailing interest rate for "Linked
Loans," to make borrowing less expensive.
- A maximum loan amount of $500,000 for
four
years.
For additional information, click to
download
a
List of Participating Lenders,
Linked Deposit 2007
Annual Report and
Frequently Asked Questions.
Linked Deposit Program application
forms
are available below in both PDF and MS Word
formats. The version in
Word format is
best if you plan to print the form and then fill
it in by hand.
The PDF version is a protected file that has "fillable"
fields into which you can type using your computer.
To fill the fields, click on or tab to the line
and type in your entry; if you click on a yes/no box
a "checkmark" will appear in the box. To print,
click on the PRINT button at the end of the form.
We Can Assist:
- Manufacturing businesses with 500 or fewer
full-time New York State-based employees.
- Service businesses with 100 or fewer full-time
NYS-based employees. Service businesses must
be independently owned and operated and not
dominant in their field. Personal and professional
service businesses are not eligible for this
program.
- Businesses in an
Economic Development Zone/Empire Zone (EDZ)
with 100 or fewer full-time NYS-based employees.
- Businesses located in a highly distressed
area that have 100 or fewer full- time NYS-based
employees.
- NYS-certified
minority-and women-owned businesses.
- Defense industry manufacturers planning projects
to diversify production to take advantage of
non-military markets.
- Any business with 100 or fewer full-time NYS-based
employees undertaking a project to increase
the business's export activities.
For more information on New York State's Linked
Deposit program, contact LDP office at
518-292-5261 or email
Linkeddeposit@empire.state.ny.us.
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