USDA announces Commodity Credit Corporation lending rates for April 2020
WASHINGTON, D.C. — On April 3, the U.S. Department of Agriculture’s Commodity Credit Corporation announced interest rates for April 2020, which are effective April 1-April 30, 2020. The Commodity Credit Corporation borrowing rate-based charge for April is 0.625 percent, down from 1.500 percent in March.
The interest rate for crop year commodity loans less than one year disbursed during April is 1.625 percent, down from 2.500 in March. Interest rates for Farm Storage Facility Loans approved for April are as follows:
• 0.750 percent with three-year loan terms, down from 1.375 percent in March.
• 0.750 percent with five-year loan terms, down from 1.375 percent in March.
• 1.000 percent with seven-year loan terms, down from 1.500 percent in March.
• 1.000 percent with 10-year loan terms down from 1.625 percent in March, and
• 1.125 percent with 12-year loan terms, down from 1.625 percent in March.
The interest rate for 15-year Sugar Storage Facility Loans for April is 1.250 percent, down from 1.750 percent in March.
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.