Opportunity Illinois Hospital Development Program


  • Office of the State Treasurer
  • 300 West Jefferson St., 2nd Floor,
  • Springfield, IL 67202
  • Phone: (217) 782-2072 or (312) 814-1244
  • Fax:
  • TDD:
  • Email: opportunityillinois@treasurer.state.il.us
  • Website: treasurer.il.gov/

Purpose of the Program

Hospital Development loans provide low-interest loans to hospitals to help cover the costs of improvements, including construction expansion or new equipment.

Who is Eligible

Program Eligibility:

Applicants must provide the following:

A copy of the hospital’s last audited financial statement; the percentage of the hospital’s patients each year who are Medicaid patients; the percentage of the hospital’s patients each year who are Medicare patients; the percentage of the hospital’s patients each year who are uninsured; the percentage of services provided by the hospital each year that no payment was received.

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. Your financial institution will often provide the application and forward it on your behalf; 4. Your financial institution must submit a completed application for deposit; 5. The Treasurer’s Loan Committee will review your application for approval. The committee meets twice monthly.

If you have questions, please e-mail opportunityillinois@treasurer.state.il.us or call (312) 814-1244.

Availability of Funds

Amounts and Terms:

Borrowers can receive up to $10 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