The U.S. Department of Agriculture’s Commodity Credit Corporation today announced interest rates for June 2020, which are effective June 1-June 30, 2020.
The Commodity Credit Corporation borrowing rate-based charge for June is 0.125 percent, same as in May.
The interest rate for crop year commodity loans less than one year disbursed during June is 1.125 percent, same as in May.
Interest rates for Farm Storage Facility Loans approved for June are as follows:
- 0.250 percent with three-year loan terms, same as in May;
- 0.375 percent with five-year loan terms, same as in May;
- 0.500 percent with seven-year loan terms, down from 0.625 percent in May;
- 0.625 percent with 10-year loan terms down from .0750 percent in May; and
- 0.750 percent with 12-year loan terms, same as in May.
- The interest rate for 15-year Sugar Storage Facility Loans for June is 0.875 percent, same as in May.
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