USDA credit corporation announce increased borrowing rate
The U.S. Department of Agriculture’s Commodity Credit Corp. announced Jan. 3 interest rates for January 2017. The corporation borrowing rate-based charge for January is 0.875 percent, up from 0.750 percent in December.
The interest rate for crop year commodity loans less than one year disbursed during January is 1.875 percent, up from 1.750 percent in December.
Interest rates for Farm Storage Facility Loans approved for January are as follows, 1.500 percent with three-year loan terms, up from 1.125 percent in December; 1.875 percent with five-year loan terms, up from 1.375 percent in December; 2.250 percent with seven-year loan terms, up from 1.750 percent in December; 2.375 percent with 10-year loan terms, up from 2.000 percent in December and; 2.500 percent with 12-year loan terms, up from 2.000 percent in December. The interest rate for 15-year Sugar Storage Facility Loans for January is 2.625 percent, up from 2.125 percent in December.
Further program information is available from USDA Farm Service Agency’s Financial Management Division at (202) 772-6041. ❖
– Courtesy of U.S. Department of Agriculture