The U.S. Department of Agriculture’s Commodity Credit Corporation today announced interest rates for July 2020, which are effective July 1-July 31, 2020.
The Commodity Credit Corporation borrowing rate-based charge for July is 0.125 percent, same as in June.
The interest rate for crop year commodity loans of less than one year, disbursed during July, is 1.125 percent, same as in June.
Interest rates for Farm Storage Facility Loans approved for July are as follows:
- 0.250 percent with three-year loan terms, same as in June;
- 0.375 percent with five-year loan terms, same as in June;
- 0.625 percent with seven-year loan terms, same as in June;
- 0.750 percent with 10-year loan terms up from 0.625 percent in June; and
- 0.875 percent with 12-year loan terms up from 0.750 as in June.
- The interest rate for 15-year Sugar Storage Facility Loans for July is 1.000 percent, up from 0.875 in June.
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