Amounts and Terms:

• Individual borrowers can receive a maximum amount of $100,000 through this program.
• The amount of the loan is based on cost of the project.
• The duration of the state’s deposit is two years with the possibility of a three-year extension.
• The Treasurer’s Office may request a site visit prior to approval of the project.

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:

• The applicant must provide a doctor’s letter describing the nature of the disability.
• The applicant must provide a brief explanation why conventional loan financing is not adequate and why an Opportunity Illinois loan is necessary incentive.
• The applicant must provide a price quote of the item or job from a vendor or contractor.
• The applicant’s gross annual household income may not exceed $100,000.
• The combined net worth of the applicant’s household may not exceed $500,000.
• A participating Illinois financial institution must approve the borrower’s 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.

Program History:

The Treasurer’s Office began offering loans to Illinoisans with disabilities in 1996. Since that time, 60 individuals have been assisted with almost $900,000 in deposits from the state.

Jack Thompson with wife Joan.

Personal Experience:

Jack Thompson was 70 years old when he got some devastating news. He was going to lose a leg to diabetes.

His daughter, who lives in California, searched the web to find a way to help her parents make their Glen Ellyn home wheelchair accessible. She discovered the Treasurer’s Office partnered with Illinois financial institutions to offer low-interest loans to people with disabilities.

In cooperation with Community Bank of Wheaton, the Thompsons qualified for a
$6,000 loan at a below-market interest rate.

They hired a carpenter to build a winding, wooden ramp up to the back door of their home. Now they can get out for doctor’s appointments, physical therapy and recreational appointments with ease.

“It was a tremendous help,” Jack Thompson's wife, Joan, said of the Opportunity Illinois loan. “The only way we would’ve been able to qualify for a home equity loan was at a much higher interest rate.”