Wait List Information
Wait List Currently In Effect.
RCW 43.86A authorizes the Office of State Treasurer (OST) to make up to $175 million available for the Linked Deposit Program. See 2008 Legislative Changes for increased fund amount for minority and women business enterprises and new funding for veteran-owned businesses. When the program operates at its authorized capacity, a wait list is in place. Contact The Office of State Treasurer for up to date information on any wait list. Currently, the LDP can fund interest rate reductions on a maximum of $175 million of loans at any given time.
When a wait list exists, financial institutions wishing to enroll loans to the program should continue to submit the Loan Enrollment form to The Office of Minority and Women’s Business Enterprises OMWBE) for certification verification and loan eligibility. However, verification of certification and loan eligibility does not mean the loan will receive funding through the Linked Deposit Program on any specific date. Participating banks should not automatically add new loan amounts to their monthly reports unless contacted by OST.
Wait List Funding Prioritization
WAC 326-70-050 |
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Funding priority — Established. |
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Funding shall occur on a monthly basis as funds are available. First-time enrollments must be first to receive funding in the month they are approved. If available funds are insufficient to cover the remaining enrollments in a given month, the unfunded enrollments must be first to receive funding in the subsequent month. First-time enrollments in that month will be funded following the funding of enrollments brought forward from the previous month(s). See illustration below.
Loan Application |
Funded? |
||||
Loan |
First Loan? |
Dec. |
Jan. |
Feb. |
Mar. |
D-1 |
Y |
Y |
|
|
|
D-2 |
Y |
Y |
|
|
|
D-3 |
N |
Y |
|
|
|
D-4 |
N |
N |
Y |
|
|
D-5 |
N |
N |
N |
Y |
|
D-6 |
N |
N |
N |
N |
Y |
J-1 |
Y |
-- |
N |
N |
Y |
J-2 |
N |
-- |
N |
N |
N |
J-3 |
N |
-- |
N |
N |
N |
F-1 |
Y |
-- |
-- |
N |
Y |
F-2 |
Y |
-- |
-- |
N |
Y |
F-3 |
N |
-- |
-- |
N |
N |
F-4 |
N |
-- |
-- |
N |
N |
M-1 |
Y |
-- |
-- |
-- |
N |
M-2 |
N |
-- |
-- |
-- |
N |
Note: In the Loan ID column, the alpha character identifies the month in which the enrollment was approved. After three months on the list, unfunded enrollments (other than first-timers) will be funded in alternating order with first-time enrollments. First-timers that are unfunded after six months will be given priority and not subjected to alternating. (See WAC 326-70-060)
WAC 326-70-060 |
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Funding priority — Adjusted. |
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(a) Approved but unfunded enrollments on the effective date of these rules shall be funded prior to enrollments approved after the effective date of these rules.
(b) The funding list will be reviewed and updated each month in a manner that maintains the priority of first-time enrollments for the current month while providing funding for others that have been unfunded for at least three months.
(c) When a first-time enrollment remains unfunded after six months due to lack of available funds, it must be funded with available funds before all other enrollments.