NYS Linked Deposit Program
The Linked Deposit Program (LDP) helps existing New York State firms obtain reduced-rate financing so they can undertake additional investments in their business. GRB has completed a number of these loans successfully and it can be an option for qualifying organizations to lower their interest costs and move forward on business objectives.
Businesses commonly use LDP to:
How It Works
Eligible businesses obtain loans from their bank and the New York Business Development Corporation.
New York State places a deposit for the same amount as the loan at the bank and earns less interest on the deposit, allowing the lender to transfer the interest rate savings on to the borrower. At the end of the four year term of Linked Deposit assistance, the bank returns the deposit to New York State.
For lenders, LDP provides a number of advantages that makes lending to eligible businesses more favorable.
Program Limits
Who Qualifies?
If interest rates have been pushing off plans for expanding your business or adding a new product or service and you qualify, LDP can be a great way to secure the funding needed to meet your goals. Contact GRB’s Commercial Banking Team for more information.
Find more information on LDP on the Empire State Development website.
