Illinois pilot pairs private farm loans with IFA participation

The Illinois Finance Authority will participate in portions of private loans for farm facilities and related equipment under a statewide pilot Gov. JB Pritzker announced Oct. 7, 2026. The program covers agricultural facilities, including grain storage, and equipment for farmers seeking financing.

Private lenders will retain responsibility for underwriting and managing the loans. The governor’s announcement describes an anticipated 2% interest rate for IFA’s participation; it does not establish the rate borrowers will pay on the full loan. IFA says its participation is intended to reduce lenders’ capital commitment and share lending risk, with the aim of making financing more accessible and affordable.

IFA’s program page directs interested parties to contact Francisco Galliano for more information. It does not provide the pilot’s total funding, loan limits, eligibility or repayment terms, or formal application instructions. The announcement describes a pilot, not confirmation that loans have been approved or disbursed.