Washington State Department of Financial Institutions

Business Development Companies

The Department of Financial Institutions (DFI) is currently taking applications to charter a business development company (BDC).

Free Guide Available

DFI recently released a free guide (PDF: 5.79 MB) to chartering and operating business development companies.

What Is a BDC?

A BDC is a new financial institution charter that can be comprised of banks, thrifts, credit unions, venture capitalists, private entrepreneurs, and even government-sponsored entities (GSEs).

The purpose of a BDC is to lend or invest in small business, agriculture, community development and/or historical preservation throughout Washington State by:

The new approach encourages sustainability through flexibility and choice. You now have the option of participating as Founder (Promoter and/or Incorporator), Capital Equity Investor, Debt Financer, Lender, or Direct Co-Lender in Participation Loans Facilitated by a BDC. DFI believes that creative business plans may emerge that are market (need) driven.

What Are the Minimum Requirements?

Minimum requirements include:

How Can I Receive More Information?

If you or your group is interested in forming or participating in a BDC, or you would like more information on chartering and operating a BDC, please contact the DFI Division of Banks at (360) 902-8704 or via email banks@dfi.wa.gov.

Pre-application meetings and outreach presentations may be arranged through the Division of Banks.

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