The U.S. Department of Agriculture’s Commodity Credit Corporation released a report on Tuesday, Dec. 1, noting interest rates for December.
The Commodity Credit Corporation borrowing rate-based charge for December is 0.125%, the same as in November, according to the report. The interest rate for crop year commodity loans less than one year disbursed during December is 1.125%, also the same as in November.
Interest rates for Farm Storage Facility Loans approved for December are as follows:
· 0.250% with three-year loan terms, up from 0.125 in November
· 0.375% with five-year loan terms, up from 0.250 in November
· 0.625% with seven-year loan terms, up from 0.500 in November
· 0.875% with 10-year loan terms, up from 0.750 in November; and
· 1.000% with 12-year loan terms, up from 0.875 in November.
The interest rate for 15-year Sugar Storage Facility Loans for December is 1.125%, up from 1.000% in November. The loan programs administered by the Farm Service Agency help stabilize the incomes of America’s farmers and ranchers.
For more information about loan eligibility, the application process or to find your local service center, visit https://www.farmers.gov