GARDNER – Gov. JB Pritzker and the Illinois Finance Authority announced a pilot loan program Wednesday to help Illinois farmers finance on site grain storage facilities and equipment. The program will provide access to lower cost financing, with the IFA expected to participate in portions of private loans at an anticipated interest rate of 2%. On site storage can help farmers reduce transportation and storage costs while giving them more flexibility over when they sell their grain. The program is designed to help farmers make long term investments in their operations while dealing with higher costs and uncertain market conditions.
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