Imagine how your business could grow when your money works for you.
With the Linked Deposit Program, you could receive an interest rate reduction of up to 2% on your business loan. The Linked Deposit Program provides affordable capital for businesses certified by the Washington State Office of Minority & Women’s Business Enterprises (OMWBE) or the Washington State Department of Veterans Affairs (WDVA).
Linked Deposit Program Eligibility
Northwest Bank is a participating lender with Washington State’s Linked Deposit Program. To be eligible for the program:
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A business must be actively certified by OMWBE as a Minority Business Enterprise (MBE), Women's Business Enterprise (WBE), Minority Women's Business Enterprise (MWBE), or Combination Business Enterprise (CBE) or the Department of Veterans Affairs (WDVA)
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Have a business loan or line of credit funded by Northwest Bank*
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Loan amounts may be up to $1 million and loan terms may be up to 10 years
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Lifetime maximum limit of $5 million per eligible individual
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No limit to the number of loans an individual may enroll in the program
*The Linked Deposit Program is not a loan or loan guarantee, and the State cannot help a business obtain a business loan. Loans eligible for enrollment must be funded by Northwest Bank or another participating lender.
Linked Deposit Program Process
Participating in the Washington State Linked Deposit Program is a simple three-step process. You can depend on your Northwest Bank Relationship Manager to guide you from start to finish.
Businesses must be state certified by OMWBE or WDVA
For more information, about becoming state-certified through the Office of Minority & Women's Business Enterprises, visit their website at omwbe.wa.gov.
For more information, about becoming state-certified through the Department of Veterans Affairs, visit their website at dva.wa.gov.
Qualify for and fund the loan with Northwest Bank
Our team will walk you through the Northwest Bank loan application process. Loans amounts of up to $1 million with a term of up to 10 years are eligible for enrollment in the Linked Deposit Program (Lifetime maximum limit of $5 million per eligible individual.)
Verification of Linked Deposit Program qualification
Together with our team, you’ll complete the Linked Deposit Program loan enrollment form. Once received by OMWBE or WDVA, they will verify qualification for program participation. Qualifying loans are enrolled beginning on the first business day of the following month.