USDA offers farm loans for underserved, beginning farmers

U.S. Department of Agriculture

WASHINGTON, D.C. — The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation earlier this month announced interest rates for January 2018. The Commodity Credit Corporation borrowing rate-based charge for January is 1.625 percent, up from 1.500 percent in December.

The interest rate for crop year commodity loans less than one year disbursed during January is 2.625 percent, up from 2.500 percent in December.

Interest rates for Farm Storage Facility Loans approved for January are as follows:

1.875 percent with three-year loan terms, up from 1.750 percent in December; 2.125 percent with five-year loan terms, up from 2.000 percent in December; 2.250 percent with seven-year loan terms, unchanged from 2.250 percent in December; 2.375 percent with 10-year loan terms, unchanged from 2.375 percent in December and; 2.375 percent with 12-year loan terms, unchanged from 2.375 percent in December. The interest rate for 15-year Sugar Storage Facility Loans for January is 2.500 percent, unchanged from 2.500 percent in December.

Further program information is available from USDA Farm Service Agency’s Financial Management Division at 202-772-6041.

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