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.

* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.

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