The U.S. Department of Agriculture’s Commodity Credit Corporation today announced interest rates for August 2020, which are effective August 1-August 31, 2020.
The Commodity Credit Corporation borrowing rate-based charge for August is 0.125%, same as in July.
The interest rate for crop year commodity loans less than one year disbursed during August is 1.125%, same as in July.
Interest rates for Farm Storage Facility Loans approved for August are as follows:
- 0.250% with three-year loan terms, same as in July;
- 0.250% with five-year loan terms, down from 0.375 in July;
- 0.500% with seven-year loan terms, same as in July;
- 0.625% with 10-year loan terms, down from 0.750% in July; and
- 0.750% with 12-year loan terms, down from 0.875 as in July.
The interest rate for 15-year Sugar Storage Facility Loans for August is 0.875%, down from 1.000% in July.
The loan programs administered by the Farm Service Agency help stabilize the incomes of America’s farmers and ranchers.
Visit https://www.farmers.gov for more information on loan eligibility, the application process or to find your local service center.
Source : usda.gov