Illinois launches low-interest grain storage loan program for farmers

(WAND) – Gov. JB Pritzker and the Illinois Finance Authority (IFA) have announced a grain storage loan program to help farmers build on-farm storage facilities.

The program will connect farmers with low-interest financing to build storage and to buy the equipment they need.

According to the Office of the Governor, the announcement comes as farmers struggle with high operating costs, tariffs and an unpredictable market.

“Through the Illinois Finance Authority, we are providing low-interest loans to finance grain storage facilities and the equipment needed to operate them, giving farmers the flexibility to navigate the market and compete on their own terms. Our farmers need all the support we can give, and we’re doing exactly that,” Pritzker said in a statement.

More information on the program is available online.