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Midwest Bank of Western Illinois

Agribusiness Banking

Midwest Bank prides itself on being the premier agriculture bank in West Central Illinois. With branches in Warren, Henderson, Knox, and Mercer Counties, Midwest Bank has not only claimed these counties as its trade area, but also surrounding counties such as McDonough, Fulton, and Henry can take advantage of the expertise Midwest Bank has to offer in Agribusiness Banking.

The expertise of Midwest Bank is reflected not only in our experienced lending staff, but also in the wide range of products and technical innovations used to bring these products to you, our customer. Please take a moment to familiarize yourself with our lending staff, and the products they offer.


Midwest Bank Loan Products

Operating Loans
Loans are available for general expenses during the operating cycle of your agribusiness. These funds can be borrowed as a single advance up front, or a revolving or non-revolving line of credit, giving you greater flexibility with the cash flow of your agribusiness.

Loans for Capital Purchases
Borrowed funds available for purchases such as equipment, inventory, or real estate that will be used over the term of numerous operating cycles.

All loans are offered at competitive rates and terms. Midwest Bank also takes advantage of available government funded programs, which allows some loan products to be offered at terms more advantageous than our regular loan programs. For further details on interest rates and terms of these loan products, please call one of our lender contacts today.

Midwest Bank works closely with the following government agencies. Each of these program options are initiated with your lender contact at Midwest Bank.


Farm Service Agency 

Guarantee Program
Allows qualified borrowers to advance more loan funds against available collateral than typical loan guidelines allow. When used in combination with capital purchases, it can provide the borrower with an option to make a reduced down payment on a purchase.

Interest Assistance Program
Provides a source of low interest financing for farming operations with narrow cash flow margins. FSA will pay up to 4% of the qualified borrower’s interest rate on their loan.


Illinois Finance Authority

Beginning Farmer Bond Program
This program uses federally tax exempt bonds to reduce a farmer’s interest rate for capital purchases. The program may be used between a borrower and MBWI for a loan to make a direct purchase. The tax exempt interest income to MBWI enables us to charge the borrower the lower interest rate.

Young Farmer Guarantee Program
Designed to help young farmers finance capital purchases with favorable terms. Loans are made by the bank, which will then receive an 85% guarantee of principal and interest from IFDA.

Specialized Livestock Guarantee Program
Designed to help family sized livestock operators gain access to capital needed to enter, upgrade, expand or improve their livestock production business. Loans are made by the bank, which will then receive an 85% guarantee of principal and interest from IFDA.

State Guarantee Program for Restructuring Agricultural Debt
Designed to consolidate and spread out a farmer’s existing debt over a longer term at a reduced interest rate. Loans are made by the bank, which will then receive an 85% guarantee of principal and interest.


Illinois State Treasurer

Agriculture Link Deposit Program
Bank provides funds for farmer’s operating expenses or equipment purchases. These funds are then matched by the State of Illinois in the form of a deposit to the bank. This allows MBWI to set these loans at lower interest rates as established by the State of Illinois.


Farmer Mac

Full Time Farm Loans
Loans for the purchase or refinancing of farm real estate.  Adjustable and fixed rate mortgages are available through this program.  Standard underwriting and loan to value considerations apply to this program.

Part Time Farm Loans
Loans for the purchase of refinancing of residential property that contains excess acreage or any form of agricultural production.  Borrower typically derives majority of their income from off-farm sources.  Adjustable and fixed rate mortgages are available through this program.  Underwriting and loan to value considerations are similar to FNMA and Freddie Mac guidelines.


Contact your Agribusiness Lenders

Any information sent to the bank via email is not encrypted and we caution anyone sending email not to send any confidential data.

Matt Gillen - Senior VP Lending, (309) 457-6221 mgillen@mbwi.com
Rex Johnson - VP and Mercer Co. Market President, (309) 582-5365 rjohnson@mbwi.com
Derrick Johnston - AVP Commercial and Ag Lending, (309) 457-6240 derrick@mbwi.com


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