The Illinois Finance Authority (IFA) is pleased to announce the launch of a pilot loan program to finance agricultural facilities, including grain storage facilities, and related equipment.
IFA will participate in portions of loans by private lenders. By reducing the lender’s capital commitment and sharing lending risk, the program can help make financing more accessible and affordable for farmers.
This program is designed to leverage private-sector lending capacity with IFA capital to support farmers across the State while maintaining the private lender’s role in underwriting and managing the loan.
“The Illinois Finance Authority and Climate Bank is proud to launch this pilot program and explore new ways to leverage private capital in support of Illinois farmers,” said Illinois Finance Authority Chair Will Hobert. “By helping to expand access to financing, we can support farmers as they invest in the long-term strength and resilience of their operations.”
To learn more about the program, please contact Francisco Galliano at fgalliano@il-fa.com.
View the press release here: Press Release
