7.00% effective April 1, 2024
Young & Beginning Farmer Loans
Farmers 40 years of age or younger or in their first 10 years of farming can start smart with assistance from Farm Credit Illinois.
Lending Assistance
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Pricing Discount
Receive an interest rate reduction for the first five years of each loan. You can leverage FreshRoots pricing on up to $1 million of farm real estate loans and $500,000 of operating loans.
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Relaxed Lending Standards
Your finances look a lot different than an established farmer. FCI uses minimum underwriting standards when reviewing young and beginning farmer applications, helping more loans get approved.
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Subsidized FSA Guaranteed Fees
Eligible farm real estate loans have the 1.5% FSA guarantee fee paid for by FCI. Plus the cooperative doesn’t charge lender fees at closings.
How to Apply
Prepare the following documents before submitting a FreshRoots financing application using FCI’s free, downloadable templates linked below or your own.
- Fiscal Year-end Balance Sheet
- Business Plan
- Cash Flow Projection – review this article for a cash flow breakdown
Participants must provide a fiscal year-end balance sheet annually during the five-year discount period.
Other Financial Templates
Tools & Features Working For You
- No pre-payment penalties means you can pay off your loan at any time
- FCI proactively reprices loans when the market provides opportunities, for free
- Annual cash patronage retroactively reduces your interest rates
- Align your payment schedule with your seasonal cash flow, selecting from annual, semi-annual, or monthly options
Additional FreshRoots Features
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Learning IncentivesUp to $2,000 in stipends are available to individual and married-couple borrower-members who attend three learning workshops within two years.Learn More
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Directors Cup AwardFCI celebrates young and beginning farmers committed to continuous learning and intentional living for a brighter future for their farm family business and community with the Directors Cup Award.Learn More
