USDA announces CCC lending rates for July | TheFencePost.com

USDA announces CCC lending rates for July

-USDA

WASHINGTON – The U.S. Department of Agriculture's Commodity Credit Corporation, today, announced interest rates for July 2018. The Commodity Credit Corporation borrowing rate-based charge for July is 2.250 percent, the same as 2.250 percent in June.

The interest rate for crop year commodity loans less than one year disbursed during July is 3.250 percent, the same as 3.250 percent in June.

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

The loan rates set forth by the CCC 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