Opportunity Illinois Bank Development Program


  • Office of the State Treasurer
  • 300 West Jefferson St., 2nd Floor,
  • Springfield, IL 62702
  • Phone: (217) 782-2072 or (312) 814-1244
  • Fax:
  • TDD:
  • Email: opportunityillinois@treasurer.state.il.us
  • Website: treasurer.il.gov/

Purpose of the Program

The Banking Development Program is intended to encourage banking institutions to open or expand a branch in a low or moderate income community so that the community’s credit and development needs are met.

Who is Eligible

Program Eligibility:

The prospective financial institution must be approved as a state depository and have a CRA rating of satisfactory or better.

Application Process

How to Apply:

  1. Contact the Treasurer’s Office for an overview of the program; 2. Apply for a loan at a participating financial institution; 3. Complete the Opportunity Illinois program application and forward your application package, including all required documentation, to the Treasurer’s Office; 4. Submit a completed application for deposit; 5. The Treasurer’s Loan Committee will review the application for approval. The committee meets twice monthly.

Availability of Funds

Amounts and Terms:

Borrowers can receive up to $10 million; the deposit for hard construction costs is capped at $5 million; The deposit for financing, programs and services can be up to, but not over, the deposit for hard costs. The maximum is $5 million; the loan duration is two years with the possibility of a three-year extension; a site visit may be required for approval.

How Funds are to be used

Types of Assistance

Loans

Year Program was established