“The State Treasurer’s Office helped us move forward in a fiscally responsible way. We had generous contributions from donors, but they didn’t cover the full cost. We owed it to them to get the best rate with our bank.”

Youth Farm President
and CEO, Matt George

 
   
 
 

Non-profit organizations use Opportunity Illinois loans to expand or improve their operations

for the public good.

Amounts and Terms:

  • Borrowers can receive up to $10 million.
  • The loan duration is two years with the possibility of a three-year extension.
  • A site visit may be required for approval.

Interest Rates:

  • Interest rates are indexed daily here or you may contact our 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.

Program Eligibility:

  • Non-profit organizations must provide their non-profit certification letter from the Illinois Secretary of State or tax-exempt letter from the IRS.
  • Faith-based organizations must submit a Secular Acknowledgement Form, certifying that no state funds will be used for non-secular purposes.
  • The applicant must show that with the help of the Opportunity Illinois loan, their business or organization will provide a benefit to their community.
  • The applicant must provide a brief explanation why conventional loan financing is not adequate and why an Opportunity Illinois loan is necessary incentive.
  • A participating Illinois financial institution must approve the application.

How to Apply:

  1. Contact the Treasurer’s Office for an overview of the program.
  2. Apply for a loan at a participating financial institution.
  3. Complete the Opportunity Illinois program application and forward your application package, including all required documentation, to the Treasurer’s Office. Often times, your financial institution will provide the application and forward it on your behalf.
  4. Your financial institution must submit a completed application for deposit.
  5. The Treasurer’s Loan Committee will review your application for approval. The committee meets twice monthly.

If you have questions, please e-mail opportunityillinois@treasurer.state.il.us or call (312) 814-1244.

Personal Experience:

Matt George, Youth Farm President and CEO

Youth Farm aims to teach at-risk youth to live independently in the real world.

But dormitory living at the Peoria transitional program just wasn’t cutting it.

Coordinators wanted to create households where their young men, ages 12 to 21, lived in family-sized groups and pulled their own weight when it came to chores and other duties.

As is the case with most non-profits, funding was a major issue.

Youth Farm turned to the State Treasurer’s Office and National City Bank to obtain a low-interest loan to build four cottages at the 22-acre facility.

“The State Treasurer’s Office helped us move forward in a fiscally responsible way,”
said Youth Farm President and CEO Matt George. “We had generous contributions from donors, but they didn’t cover the full cost. We owed it to them to get the best rate with our bank.”

  
   

Employ Illinois gives business owners access to capital to start or enhance their businesses with the help of low- interest rate loans.

Opportunity Illinois backs low-interest loans to consumers and community development agencies to improve the quality of life in Illinois.

Cultivate Illinois offers four financing options to help farmers secure low-interest loans to offset rising costs associated with farming.
Money Market and Prime Funds allow local government entities to pool their investments to gain a higher rate of return for their residents.
Online bill paying gives people with busy schedules a quick and convenient way to pay government bills and fees.