Investing Back In Agriculture

Meghan Grebner

Illinois and fiscal responsibility aren’t exactly words that go hand in hand but Illinois State Treasurer Dan Rutherford is trying to change that.  Earlier this week Rutherford announced his Ag Invest program in conjunction with the Illinois Farm BureauAg Invest (formerly known as Cultivate Illinois) partners with eligible lenders to offer low-interest loans to Illinois farmers that can be used for operating costs, equipment purchases, construction related expenses and livestock purchases.

So why tweak Cultivate Illinois?  Rutherford says their goal is to give Illinois farmers the opportunity to pay less interest in operating expenses.  He adds along with increasing the amount producers can now borrow – the Illinois Treasurer’s office has made the loan process less cumbersome for lenders and farmers.  By reducing the paperwork and tedious questions they are able to streamline the lending process.

The changes made to Ag Invest are key for Illinois Farmers.  Illinois Farm Bureau President Philip Nelson says, “Farming is a capital intensive industry and having access to capital is important to farmers.” He adds this is a positive step the Illinois is taking to assist its largest industry.

Ag Invest
Agribusiness