Please call our office for more information about the loan possibilities for your farm by emailing Cultivate Illinois at cultivateillinois@treasurer.state.il.us or calling (217) 557-6436.

Uses of Cultivate Long-Term loans can include:

• New or used farm equipment
• Construction
• Purchase of livestock
• Seed, feed, fertilizer, plants, chemicals, cash rent, crop insurance

Uses of Cultivate Long-Term loans cannot include:

• Expenses that are part of typical annual operating budget
• Loan fees
• Land acquisition
• Moving or landscaping equipment
• Two wheel drive or four wheel drive (full ton or lighter) trucks

Amounts and Terms:

• Applicants can receive loans up to $200,000.
• The below-market interest rate is available for two years with the possibility of a three-year extension.
• The Treasurer's Office may require a site visit prior to approval.

Interest Rates:

Interest rates are quoted daily here or you may call the Treasurer’s Office at (217) 782-2072. The listed rates are posted to give potential borrowers an indication of current rate figures. The final deposit rate is determined on the business day prior to issuing the loan. Lenders may charge up to 3 percentage points over the Treasurer's rate of deposit.

Program Eligibility:

• The applicant must demonstrate that a Cultivate Illinois loan can help him/her enhance farm operations and/or crop production.
• If the loan is intended for vehicles or machinery, the applicant must provide a brief explanation as to why conventional loan financing is not adequate and why the deposit made by the Treasurer's Office is necessary.
• A participating Illinois financial institution must approve each borrower’s application.
• The applicant’s property must be located entirely in Illinois.

Evaluation Criteria:

The Treasurer's Office evaluates each application based on a variety of factors, including the availability of state funds. Other considerations include:

• Need
• Loan amount
• Expected savings
• Down payment or trade as part of transaction
• Percent of income from farm operation
• Previous use of Cultivate Illinois programs

How to Apply:

If you have any questions or need more information, please email cultivateillinois@treasurer.state.il.us or call (217) 557-6436.

Program History:

The Treasurer’s Cultivate Illinois loan program is the nation’s most expansive agriculture deposit program. More than 1,000 financial institutions throughout the state have loaned more than $1 billion in annual and long-term loans since 1983.

The Treasurer’s Office began the long-term loan program in 2000. More than $38 million is currently invested in our long-term and alternative agricultural programs, providing low interest financing to nearly 2,500 borrowers through participation with financial institutions.