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USDA Announces Commodity Credit Corporation Lending Rates for August 2018 | Rural Radio Network

USDA Announces Commodity Credit Corporation Lending Rates for August 2018

USDA Announces Commodity Credit Corporation Lending Rates for August 2018

WASHINGTON, August 1, 2018 – The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation, today, announced interest rates for August 2018. The Commodity Credit Corporation borrowing rate-based charge for August is 2.375 percent, up from 2.250 percent in July.

The interest rate for crop year commodity loans less than one year disbursed during August is 3.375 percent, up from 3.250 percent in July.

Interest rates for Farm Storage Facility Loans approved for August are as follows: 2.625 percent with three-year loan terms, the same as 2.625 percent in July; 2.750 percent with five-year loan terms, the same as 2.750 percent in July; 2.875 percent with seven-year loan terms, the same as 2.875 percent in July; 2.875 percent with 10-year loan terms, the same as 2.875 percent in July and; 2.875 percent with 12-year loan terms, down from 3.000 percent in July. The interest rate for 15-year Sugar Storage Facility Loans for August is 2.875, down from 3.000 percent in July.

The loan rates set forth by the Commodity Credit Corporation help to stabilize the incomes of America’s farmers and ranchers, and ensure their continued operations.

Visit https://www.farmers.gov for more information on loan eligibility, the application process or to find your local service center.

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