Please note, The State Treasurer has rolled back some changes made to the Program in 2019 in an effort to return to normal operations. STO staff have implemented updates to the website to incorporate the following changes:
- The new maximum size will increase from $2 million to $10 million
- The discount rate to the banks will move from 55% back to the maximum 60%
- We will allow refinancing of existing bank loans (but NOT those tied to an existing linked deposit)
- We will maintain the maximum percentage participation from any one financial institution at 20% of total program authorization