Cultivate Illinois Long-Term Loans (Agriculture)

  • Office of the State Treasurer
  • 300 West Jefferson St., 2nd floor,
  • Springfield, IL 62702
  • Phone: (217) 557-6436
  • Fax:
  • TDD:
  • Email:
  • Website:

Purpose of the Program

Through the Cultivate Illinois Long-Term loan program, the Treasurer’s Office helps farmers invest in major expenses like machinery, building construction and irrigation systems.

Who is Eligible

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, or previous use of Cultivate Illinois programs.

Application Process

How to Apply: Apply for a loan at a participating financial institution and agree to use the Cultivate Illinois program.  Complete the Cultivate Illinois Long-Term Loan program application and forward your application package, including all required documentation, to the Treasurer’s Office. Your financial institution will often provide you with this application and forward it to our office on your behalf.  Your financial institution must submit a completed application for deposit. Please contact the Treasurer’s Office before completing this application. The contact information is listed on the application.  The Treasurer’s Loan Committee will review your application for approval. The committee meets twice monthly.

Availability of Funds

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.

How Funds are to be used

Uses of Cultivate Long-Term loans can include: new or used farm equipment, construction, purchase of livestock, seed, feed, fertilizer, plants, chemicals, cash rent, and crop insurance

Types of Assistance


Year Program was established