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