Linked Deposit Program

Linked Deposit LoanWhat is a Linked Deposit program and how does it work? 

Lucas County Treasurer Lindsay M. Webb, the Lucas County Office of Economic Development, and local lending institutions have teamed up to offer area businesses, builders and developers a program that offers the financial help necessary to grow their organizations.

Participating financial institutions preapprove applicants for a two-to-four-year economic development loan at a competitive rate of interest. If the project meets linked deposit criteria, the County Treasurer will purchase a certificate of deposit from the financial institution and accept a lower rate of return. The financial institution in return is required, by law, to reduce the interest rate by up to three (3%) percent.

Thus, loans are linked between the County, the financial institution, and the participating business. In return for a slight loss of immediate investment dollars, the County is able to help provide quality jobs, which in turn will lead to an increased tax base in the long run. The Linked Deposit Program is not only helping area businesses and developers expand, but it is also helping to bring about future investments for our schools, Metro parks, libraries and other County programs that rely on tax dollars for survival.

Who is eligible?

In order to qualify for the Linked Deposit Program, the small business must meet the following requirements: Be organized for profit. Maintain offices and operating facilities exclusively in Lucas County. Employ fewer than 150 people at the time of application, the majority of whom must be Ohio residents.

Application, Guidelines, and Participating Lenders