Event Title

Information Technology with the Illinois State Treasurers Office

Session Number

Project ID: BizIN 08

Advisor(s)

Daniels Joseph, Chief Information Officer, Illinois State Treasurers Office

Discipline

Business

Start Date

20-4-2022 9:10 AM

End Date

20-4-2022 9:25 AM

Abstract

AgInvest is a program developed by the Illinois State Treasurers Office that streamlines the process that banks go through to request loans on behalf of farmers. It has been available for Illinois for over 39 years. It provided basic loans with a variety of approved financial institutions to start, expand, or addvalue to farm operations. It has loaned billions of dollars out to farms since it has been in existence. Thefast-track program that was introduced shortened the necessary time for a loan to be approved tremendously. A bank would be able to easily log onto the platform and fill out various fields which would then allow them to request loans much faster. The program automatically takes the responses given by the banks and proceeds to autofill various PDFs and send them off to be signed. After everything is signed, the program verifies it all and the money can be given on a loan to the banks. This program will be getting implemented within the coming year and is a huge benefit to farms and banking institutions across the state.

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Apr 20th, 9:10 AM Apr 20th, 9:25 AM

Information Technology with the Illinois State Treasurers Office

AgInvest is a program developed by the Illinois State Treasurers Office that streamlines the process that banks go through to request loans on behalf of farmers. It has been available for Illinois for over 39 years. It provided basic loans with a variety of approved financial institutions to start, expand, or addvalue to farm operations. It has loaned billions of dollars out to farms since it has been in existence. Thefast-track program that was introduced shortened the necessary time for a loan to be approved tremendously. A bank would be able to easily log onto the platform and fill out various fields which would then allow them to request loans much faster. The program automatically takes the responses given by the banks and proceeds to autofill various PDFs and send them off to be signed. After everything is signed, the program verifies it all and the money can be given on a loan to the banks. This program will be getting implemented within the coming year and is a huge benefit to farms and banking institutions across the state.