Agriculture
“ IFA is here to help Illinois farmers and agri-businesses grow. ”
The Illinois Finance Authority provides expert, hands-on support to help Agri-businesses obtain the capital they need for growth. We have the flexibility to work with farmers to make deals happen. And, we bring the market expertise to match the right solution to your business.
Which of these describes your needs?
- Beginning farmer or long-time tenant making your first land purchase
- Experienced farmer seeking to diversify with a new enterprise
- Young farmer entering the family business
- Established farm seeking to expand, using the best source for capital
- Farm or agribusiness seeking to take advantage of market conditions to consolidate or restructure debt
Our new brochure outlines eligibility requirements to help you choose the IFA program that’s right for you. Or, check out details of all Ag lending programs here.
Latest News
IFA agriculture loans available soon for working capital
Governor Pat Quinn has signed legislation that will allow more family farms and agri-businesses to take advantage of lower interest rates and increased access to needed capital. Senate Bill 3719 expands the Illinois Finance Authority’s long-standing agriculture loan guarantee program by including financing for working capital.
For details, contact your local lender. More…
Hear details on WGN radio. Orion Samuelson recently featured this expanded financing program. Sponsoring Senator Mike Frerichs was Samuelson’s guest to discuss SB3719. Their conversation aired June 12 and begins at the 30:47 mark on this link.
FarmWeekNow, a radio production of the Illinois Farm Bureau, also interviewed Senator Frerichs and the IFA’s downstate Regional Manager Eric Reed about the expanded loan guarantees to cover farmers’ working capital needs. Listen to that interview on FarmWeekNow.com, (on the left side, look for Morning Programs, RFD Today, Wednesday, June 9th).
IFA's Program to help beginning farmers is getting a lot of new media attention. What's everyone talking about?
Veteran Ag broadcaster Orion Samuelson of WGN Radio highlighted the BFB Program during “The Morning Show” on Saturday, February 27, 2010. Listen to Orion’s interview with Eric.
Read IFA Regional Manager Eric Reed’s March 22, 2010 Perspective in FarmWeek about the 2010 new and improved Beginning Farmer Bond (BFB) Program is helping first-time farm owners throughout Illinois.
RFD Today, a radio production of leading Ag News publication FarmWeek, interviewed Eric Reed about BFB twice in early 2010. Listen to his two recent conversations with hosts Alan Durand and Julie Roote: January 26 and March 2, 2010.
More support than ever for Illinois Beginning Farmers
The most popular agriculture financing program offered by the Illinois Finance Authority is now even better. The IFA has announced the first-ever increase in the amount of money farmers can borrow through its Beginning Farmer Bond Program (BFB). Funds available to eligible first-time farmers in 2010 have nearly doubled, from $250,000 to $470,100 per borrower. Based on changes sought by IFA and similar state agencies as part of the 2008 Federal Farm Bill, the Finance Authority’s lending limit is now linked to an inflationary index, which allows for annual increases. And, Illinois has authorized a bigger pool than ever before, with a record $25 million in financing authority dedicated to the Beginning Farmer Bond program for 2010.
Click here to learn more.Another Banner Year for Agriculture
IFA's Agriculture sector approved 48 Beginning Farmer Bonds and Agriculture Guarantees in 2009 and has supported more than 410 businesses in 82 Illinois countines since 2004.
Ag programs
IFA Loan Guarantees: Provide value to borrowers and Lenders
Loan Guarantee Program Fits Many Needs
Access to capital is key to helping your farm or agribusiness thrive. Illinois Finance Authority backing helps lower your interest rate when you work with a participating lender to underwrite farmland purchases, building construction or repair, or improvements to promote soil and water conservation. In some cases, up to 50% of the loan may be used to refinance existing debt. Learn more
Meet Your IFA Ag Team
Our team builds on a history of service to Illinois farmers and agribusinesses, with the knowledge base to help find the best financing solutions for your needs. Meet the team
IFA Is Your Financing Partner
IFA programs are helping to keep Illinois a competitive state in agriculture and agri-industry. Our financing options focus on getting individual producers and industry partners started, and then supporting them through the good years as well as the tough ones. Learn more
Now is a good time to talk to your lender about securing your loans with an IFA guarantee. IFA offers loan guarantees to support young farmers, specialized livestock operations and agri-industries, to assist with value-added stock purchases, and to help restructure debt. These programs are there to help you succeed – and you don't need to wait. Shoring up credits in a good year – as well as a tough year – should be a best practice in agricultural finance … learn more
Participation Loan Program
When the IFA partners with your local lender, you’re the winner. IFA’s interest-rate reduction program is offered in conjunction with your lender, providing support for community bankers and farm operators by purchasing up to the lesser of $500,000, or a 50% participation in the loan, directly from the borrower’s lender. Borrowers' planning, closing and loan payments are all handled through their local lender.
Approved Ag Lenders
Work locally, live locally, and borrow locally. When you participate in an IFA program, you’ll be working with an established community banker who knows your town and county. These Approved Illinois Ag Lenders are valued partners of IFA and play an important role in implementing the financing programs that support agriculure. Find an IFA-approved Ag lender near you.
