Helping farmers is a top priority of the Treasurer’s Office. We’re proud to offer these agricultural and environmental loans to the farmers of Illinois.

Please call our office for more information about the loan possibilities for your farm by emailing Cultivate Illinois at cultivateillinois@treasurer.state.il.us or calling (217) 557-6436.

Uses of Cultivate alternative agriculture loans can include:

• Land acquisition
• Inventory
• New and used farm equipment
• Specialty crops
• Construction
• Plant stock such as grapes for winemaking

Uses of Cultivate alternative agriculture loans cannot include:

• Feasibility, research or marketing studies
• Mowing or landscaping equipment
• Loan application fees
• Two wheel drive or four wheel drive (full ton or lighter) trucks
• Utility or all-terrain vehicles

Amounts and Terms:

• Applicants can receive loans up to $200,000.
• The below market interest rate is available for two years with the possibilty of a three-year extension. Sixth and seventh year renewal is available for grape and vineyard production.
• The Treasurer's Office may require a site visit prior to approval.

Interest Rates:

Interest rates are quoted daily here or you may call the Treasurer’s Office at (217) 782-2072. The listed rates are posted to give potential borrowers an indication of current rate figures. The final deposit rate is determined on the business day prior to issuing the loan. Lenders may charge up to 3 percentage points over our rate.

Program Eligibility:

• The applicant must demonstrate that a Cultivate Illinois loan can help him/her create or enhance farm operations and/or crop production.
• A participating Illinois financial institution must approve each borrower’s application.
• The applicant’s property must be located entirely in Illinois.

How to Apply:

1. Apply for a loan at a participating financial institution and agree to use the Cultivate Illinois program.
2. Complete the Cultivate Illinois Alternative Agriculture Loan program application and forward your application package, including all required documentation, to the Treasurer's Office. Often times, your financial institution will provide you with this application and forward it to our office on your behalf.
3. 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.
4. Our office may contact you by phone to further explore your situation.
5. The Treasurer's Loan Committee will review your application for approval. The committee
   meets twice monthly.

If you have any questions or need more information, please email
cultivateillinois@treasurer.state.il.us or call (217) 557-6436.

Program History:

The Treasurer’s Cultivate Illinois loan program is the nation’s most expansive agriculture deposit program. More than 1,000 financial institutions throughout the state have loaned more than $1 billion in annual and long-term loans since 1983.

The Treasurer’s Office began offering its alternative loan program in 1999. More than $32.4 million is currently invested in our long-term and alternative agricultural programs, providing low interest financing to more than 2,058 borrowers through participation with financial institutions and the Farm Credit Services.

Personal Experience:

Bruce Morgenstern

Bruce Morgenstern always tells people that the Pheasant Hollow Winery is his hobby run amok.

He started out as an amateur winemaker and now runs a rustic, five-acre winery and reception hall in the woods of Rend Lake. Pheasant Hollow produces fruit and grape wines year round and is a homey site for weddings, murder mysteries and festivals.

Morgenstern and his wife, Mary, and their business partners, Bill and Judy Needham, opened Pheasant Hollow’s doors on July 4, 1999. Morgenstern had a five-year plan to build a gazebo for musical acts and a storage facility for their products, plus a second log building and restaurant 10 years out. A $140,000 agriculture loan from the Treasurer’s Office sped up the expansion.

“The loans enabled us to put our five-year plan in place in the first two years,” he said. “It was very exciting and opened up a lot of opportunities for us.”