Linked Deposit Program

Empire State Development’s Linked Deposit Program can help eligible New York State small businesses reduce their cost of capital by 2-3%, making it possible to entrepreneurs to invest in and grow their businesses, become more competitive and create jobs in their local communities.

How Does Linked Deposit Work?

The Linked Deposit program can be added on to most loan programs administered by NYBDC. If you qualify for an NYBDC loan and are eligible for Linked Deposit, you will complete a supplemental application for the program that will be evaluated in parallel to your loan application. If you qualify for Linked Deposit, you will receive 2-3% interest rate subsidy on your loan, reducing your overall cost of capital and making it easier to borrow the money you need to grow. Learn more about Linked Deposit here.

Am I Eligible for Linked Deposit?

Your loan officer will discuss whether you are eligible for Linked Deposit with you. In general, the following for-profit, New York State-based businesses are good candidates for the program:

  • Manufacturing businesses with 500 or fewer full-time, New York State-based employees
  • Service businesses with 100 or fewer full-time New York State-based employees
  • Any firm with fewer than 100 full-time New York State-based employees undertaking a project designed to increase export activities
  • Businesses operating in Empire Zones or highly distressed areas
  • Certified M/WBEs
  • Defense industry manufacturers, agricultural firms, and technology businesses

In addition to the guidelines above, your business must meet certain project guidelines that your loan officer will discuss with you.

Interested in Applying?

If you are interested in applying for the Linked Deposit program, ask your loan officer if the program is right for you. If you do not yet have an NYBDC loan officer, contact Steve Willard, SVP, at