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 here for more information on loan eligibility, the application process or to find your local service center.