Linked deposit programs

Through the program, the Office partners with qualified-lending institutions to provide low-interest loans to help grow and expand economic opportunity across Missouri. By reducing the interest rate on certain loans borrowers can use to improve their businesses, the program helps Missouri financial institutions better serve Missouri-based companies and agricultural operations.

The program also provides funds for local governments to serve the interests of their constituents. So if the state earns two percent or more in interest on a certificate of deposit, the business owner receives the full two percent reduction. However, if the state receives less than two percent interest, the loan may only be reduced by the amount the state earns.

Any qualified public depository that is signed up through the Automated Clearing House can participate in the Linked Deposit Program. Bank representatives can contact the state Treasurer to register as a Linked Deposit lender in order to offer the program to OMWBE certified firms and customers that are veteran or servicemember business owners.

See the list of participating financial institutions below. All Rights Reserved. Terms of Service Privacy Policy Accessibility.

Skip to main content. Office of Minority and Women's Business Enterprises. Linked Deposit Loan Program. In the session of the Maryland General Assembly, the law governing this loan program was amended to allow the Department to provide low interest loans to private entities for eligible, non-point source pollution control projects.

EPA is encouraging states to broaden the types of projects funded through the loan program, particularly for non-point source pollution control. In the session of the General Assembly the law was further amended to allow loans through the Linked Deposit program. In addition, it has been recognized in Maryland that private landowners, including farmers, play a major role in the reduction of nutrients reaching the Chesapeake Bay and its tributaries.

The loan program is a source of low cost financing to assist the private sector in these efforts. This Linked Deposit program will allow the Water Quality Financing Administration to enter into partnerships with community lending institutions, to provide an easy and convenient way for farmers and other private entities to take advantage of this affordable loan program for implementing eligible non-point source capital improvements.

Using the lending institutions that are in the community, where farmers and merchants and private citizens bank can provide capital for water quality improvement at reduced cost. MDE and the Maryland Department of Agriculture and Department of Natural Resources participate in a project qualification process that includes approval of project and procurement. The borrower shall obtain this "Certificate of Qualification" prior to applying for a loan, from the local approving authority i. The certificate will be required prior to applying for a loan.

Following a successful credit evaluation, the lender will send to MDE an investment request form identifying the landowner, loan terms, and a copy of the Certificate of Qualification. Upon approval of the financing terms by the Water Quality Financing Administration, and project eligibility by the Water and Science Administration both within MDE , funds from the WQRLF will be invested with the lender equal to the amount of the loan to the borrower, for a term equal to the loan, but in no case longer than 30 years.

The interest rate on the deposit will be discounted below the lenders normal cost of funds, and this interest saving will be passed on to the borrower. As construction funds are drawn, the borrower shall in-turn make payments on the loan to the lender. The lender will then make payments of principal and interest to WQFA, in direct proportion to the borrowers repayment of the amortized loan amount.

While grants from the Maryland Department of Agriculture will pay for much of the cost of these capital projects, farmers must pay at least The Linked Deposit loan mechanism can assist the farming community by lowering the rate on loans available from community-based commercial lending institutions, for eligible project costs.

The Linked Deposit Loan Program cannot be used to design and construct facilities to address point source pollution control problems. However, distributed infrastructure including non-point source pollution control projects on privately owned land are eligible. For Bank Use only:. Deposit Agreement. Linked Deposit Certificates of Qualification. These Qualification Forms are intended to determine project eligibility for participation and is not a funding commitment.

Funding is limited and subject to availability of funds on a first come first served basis. For general information on the Linked Deposit Program, please contact