A loan program that partners the State of Illinois Treasurer’s office and private banks is getting a refreshed look in 2016.

The state’s Ag Invest Program seeks to provide farmers with below market rate loans to invest in farming operations or start up new ones. New for this year is an increase in loan amounts to $400,000 per farmer and $800,000 per operation with below market options for interest rates. Treasurer Mike Frerichs says that they are striving to make real world improvements to the program.

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Frerichs says the relationship with banks means that farmers don’t need to work through a government office to use the program.

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The changes went into effect on January 1 and since 2008 Ag Invest has loaned out more than $1 billion dollars.