USDA Announces Commodity Credit Corporation Lending Rates for October 2020

Oct 02, 2020

The U.S. Department of Agriculture’s Commodity Credit Corporation (CCC) today announced interest rates for October 2020, which are effective October 1 - October 31, 2020.

The CCC borrowing rate-based charge for October is 0.125%, same as in September.

The interest rate for crop year commodity loans less than one year disbursed during October is 1.125%, same as in September.

Interest rates for Farm Storage Facility Loans approved for October, all of which were unchanged from September, are as follows:

0.125% with three-year loan terms;
0.250% with five-year loan terms;
0.500% with seven-year loan terms;
0.625% with 10-year loan terms; and
0.750% with 12-year loan terms.

The interest rate for 15-year Sugar Storage Facility Loans for October is 1.000%, up from 0.875% in September.

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

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