Saturday, January 17, 2009
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State Bank of Lincoln receives top USDA award

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[January 17, 2009]  JACKSONVILLE -- State Bank of Lincoln was awarded top honors by the U.S. Department of Agriculture Rural Development as a "Million Dollar Lender" in Illinois. The recognition is made annually to lenders that excel in using the federal agency's guaranteed loan program to increase home ownership.

Restaurant"The State Bank of Lincoln has demonstrated its commitment to helping borrowers afford their first home or upgrade to a better home," said Kim Allen, a Rural Development specialist in the agency's Jacksonville office. "We are extremely pleased with State Bank of Lincoln's achievement. Their commitment to helping borrowers get a loan they can afford for a house they really want is not only good for the borrowers; it's good for the local economy, too."

State Bank of Lincoln used Rural Development's guarantee to generate more than $10.5 million in affordable home loans this year. With the Rural Development guarantee, State Bank of Lincoln can offer 100 percent loans with no required down payment, no private monthly mortgage insurance, no maximum purchase price, competitive fixed market rate interest and 30-year terms. The program includes flexible credit guidelines and generous income limits.

Information on eligibility for guaranteed home loan financing is available by contacting State Bank of Lincoln at 217-735-5551. State Bank of Lincoln has been originating Rural Development loans since 1991 and was the first approved lender in Illinois when the program started.

[Text from USDA Rural Development in Illinois file received from State Bank of Lincoln]


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