The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation recently announced interest rates for July 2017. The Commodity Credit Corporation borrowing rate-based charge for July is 1.125 percent, unchanged from 1.125 percent in June.
The interest rate for crop year commodity loans less than one year disbursed during July is 2.125 percent, unchanged from 2.125 percent in June.
Interest rates for Farm Storage Facility Loans approved for July are as follows, 1.500 percent with three-year loan terms, unchanged from 1.500 percent in June; 1.750 percent with five-year loan terms, down from 1.875 percent in June; 2.000 percent with seven-year loan terms, down from 2.125 percent in June; 2.250 percent with 10-year loan terms, down from 2.375 percent in June and; 2.250 percent with 12-year loan terms, down from 2.375 percent in June. The interest rate for 15-year Sugar Storage Facility Loans for July is 2.375 percent, down from 2.500 percent in June.
Further program information is available from USDA Farm Service Agency’s Financial Management Division at 202-772-6041. USDA is an equal opportunity lender, provider and employer.
-Submitted by Jean Hazlegrove