Long-Term Agriculture Loan

Overview

Agriculture Operating Line of Credit

Long-Term Ag and Value-Added

Daily Rates

Frequently Asked Questions

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Long-Term Agricultural Loans for Farm Expansion and Major Investments

The Ag Invest Long-Term Agriculture Loan Program helps Illinois farmers and agricultural businesses finance major purchases and long-term investments at lower costs.

Loans can cover eligible expenses such as farm machinery and equipment, land purchases up to $600,000, building construction, irrigation systems, milling and processing, transportation costs, fees, payroll, and other qualified agricultural expenses.

After a participating lender approves the loan, the Illinois Treasurer’s Office works with the lender to provide a reduced interest rate. This helps lower borrowing costs for farmers and agricultural businesses investing in the expansion, improvement, or long-term growth of their operations.

Items Eligible for Ag Invest Long-Term Loans

• Purchasing new or used farm equipment
• Construction/Renovation
• Refinance
• Milling
• Processing
• Transitioning
• Land acquisition up to $600,000
• Transportation
• Salaries
• Irrigation Systems
• Hoop Houses
• Implement soil and water conservation practices
• Purchase of livestock
• Qualified agribusinesses, including vineyards, fish farms, and pick-your-own orchards

Amounts and Terms

• Applicants can receive multiple loans per calendar year, up to $800,000 per borrower
• The below-market interest rate is available for three years, with the possibility of a two-year extension
• Loan terms for up to nine years for expenses greater than $800,000; contact the office for more details
• The Treasurer’s Office may require a site visit prior to approval

Interest Rates

Interest rates are quoted on the Access to Capital and Invest In Illinois Daily Rates website, updated on the first day of every month. The listed rates are posted to give potential borrowers an indication of current rate figures. We will confirm the final deposit rate on the business day before the loan is issued. Effective January 1, 2026 – December 31, 2026, the maximum interest rate on the loan may not exceed the associated deposit rate by more than 2.75 percent during the term of the treasurer’s participation.

Program Eligibility

• The applicant must provide supporting documentation of proposed expenses
• A participating Illinois financial institution must approve each borrower’s application
• The applicant’s property must be located entirely in Illinois

Applications must be received by noon on the Thursday before an upcoming meeting to be considered for funding at that meeting. Meetings are typically held on the first and third Wednesdays of each month.

Applications received after the deadline will be considered at a later meeting or at the discretion of the Illinois Treasurer’s Office. The Treasurer’s Office reserves the right to change the meeting schedule without notice.

Lending Institutions

If you represent a lending institution, please review the documents below:

Step 1:

Ag Invest Long-Term Loan Program Application

Step 2:

Ag Invest Agriculture Linked Deposit Loan Program Letter of Agreement