The U.S. Department of Agriculture’s Commodity Credit Corporation today announced interest rates for May 2020, which are effective May 1-May 31, 2020.
The Commodity Credit Corporation borrowing rate-based charge for May is 0.125 percent, down from 0.625 percent in April.
The interest rate for crop year commodity loans less than one year disbursed during May is 1.125 percent, down from 1.625 in April.
Interest rates for Farm Storage Facility Loans approved for May are as follows:
- 0.250 percent with three-year loan terms, down from 0.750 percent in April;
- 0.375 percent with five-year loan terms, down from 0.750 percent in April;
- 0.625 percent with seven-year loan terms, down from 1.000 percent in April;
- 0.750 percent with 10-year loan terms down from 1.000 percent in April; and
- 0.750 percent with 12-year loan terms, down from 1.125 percent in April.
The interest rate for 15-year Sugar Storage Facility Loans for May is 0.875 percent, down from 1.250 percent in April.
The loan programs administered by the Farm Service Agency help stabilize the incomes of America’s farmers and ranchers.
Visit here for more information on loan eligibility, the application process or to find your local service center.