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IL Offers Low Interest Loans to Farmers
SPRINGFIELD, Ill. (AP) -- Illinois farmers will be eligible for low-interest loans under a new state program.

The loans will not exceed 4.5 percent interest rates. The loans can be used to purchase equipment, livestock and construction materials as well as operational costs.

The state treasurer's office will run the Ag Invest program in conjunction with the Illinois Farm Bureau.

Single farmers will be capped at $120,000 in loans for the new program. Farming operations with more than one borrower may secure up to $240,000.

The program will also include less paperwork, potentially giving farmers fewer headaches when applying for loans.

People can find out more online at www.treasurer.il.gov by clicking the Invest in Illinois tab.

(Copyright 2011 by The Associated Press. All Rights Reserved.)
04 19 11 by Newsroom
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